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It was on the market for a while... With steady decreases over 18 months. From what I understand, the buyer threw in a low ball offer, and was surprised when it was accepted. The big drop was only a small dent in comparison to his pay package though!

I think as more baby boomers move into retirement, there will be more of those high end properties coming onto the market. With salary growth suppressing, demand from the upcoming younger generation won't keep up with the supply. Another exec I know had his property on the market for 5.5m. He...

There are a few bargains around, if you have an appetite for it. There's a few mansions on the canals in mandurah, priced at about 50% discount to what the owners paid at the peak of the gfc. Not sure if there is a rental market for them though...

Really? The high end market in Perth is pretty stagnant. I know of a house owned by a mining exec, sold for 30% discount from what he paid for it about 3 years ago.