Well, the doom and gloomers were right in my tiny little market segment... development sites in the City of Belmont. I have been to three auctions, three weeks in a row. 1) passed in, 2) sold for $20k less than the vendor wanted and 3) passed in, no genuine bids. If you look at Australia though, it is such a tiny, tiny piece of the market. Meanwhile, prices are increasing in lots of other segments.
