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Spot on....Perth was fortunate to have self cooled. This time around prices have come off but not substantial decline....and still affrodable vs relative wages. Some markets like apartments are another story...it won't be pretty. The real bubble is Melbourne apartments, Melbourne inner/middle...

I just rented my Mandurah build on 284sqm with a 18.5 sqm home for $390 pw. Another guys on the forum also built and he got $380 pw...so not all bad. ;)