I could not disagree with the sentiment of the original post more. The WA market is really on its knees. The huge disparity now between advertised for sale prices and rents of a similar location/sized property only highlight this. I am currently looking for 2x2 living in the inner city and you would have to be an absolute mug to buy at the moment. $475p/w in Subiaco in rent vs. prices around $550-575k for sale. If you went in with 20% deposit you'd still be better off to the tune of $1300 a month on a 25 year term with our historically low interest rates. Admitedly you can say rent is throwing money down the street but then so is paying 20-30% over the top on a property and then paying the interest on that amount too. All a gamble I guess but one I am willing to take at the moment.
That said I would be interested what price you could hammer them down to for apartments at the moment, as there is no way sane people can be paying those prices!?
