FrankGrimes said:I think the slump will be alot less visible in the lower end priced properties because they appeal to first home buyers etc. I personally know of 3 families trying to sell their PPOR in Illawong, Bonnet Bay and Barden Ridge. (Middle class Sydney suburbs, 25km from CBD) All houses were/are worth around 700-750K in 2003-2004. But none have had offers over 620K, and the house in Illawong sold for 570K, it is a 4 bedroom house, 3 bathroom, pool, quiet street etc.. Absolute steal!
These are the types of places where you will see a difference and can submit low ball offers etc..
A sign how much 2003 was out of kilter.
Peter 147