.... Top end Perth market down 20% plus.... south western australia ... top end is down 30% plus.
Builders are offering.... free rent for a year.... lower interest rates.. free aircon... free holiday. A established home was advertised on the weekend giving away the family mercedes with the house.
The papers are saying its a great time to buy... get in now before its too late and you miss the next boom and the banks(sharks) are getting more aggresive in a shrinking mortgage pool trying to do business... but there is no quality there.
There is no picking the bottom.... this thing could drag on for years although I think the next two will be the years of the biggest falls going by other countries experiences...
This list I saw about 18mths ago describing the american market and even though it fell and plateau..... its starting to fall again. Funny how it is so similar to what has played out here... Apparantly Australia is different.
Our property market was always going to tank sooner or later... With whats going on in money markets at the moment it will just make the whole process a lot faster.
