I have a client who was offered $420K for his Balga property...

I have a client who was offered $420K for his Balga property that he bought for about $100K in 1998/99

BALGA - WHAT A JOKE

Anyone who thinks Perth property is not over priced as it is, is deluded

But 2 rules that apply to all investment booms

1. You can never over estimate how far people are prepared to push prices up in a boom regardless how ridiculous they get

2. All booms end and the bigger the boom the bigger the bust, and the property boom here has been big