Is the sky falling?

Good stuff, hope you did well out of it.
How long did you have it for?

 

Yes, good price. Not top dollar but good. We have owned since 2007.

 

Well done taking profit in Melbourne - but buying is good in other locations, just perhaps not Sydney and Melbourne. The opportunities are in other locations. I don't see that there is one property cycle but many.

 

Agreed, just not for me. My next purchase will be in Perth and the market is still overpriced. I think we are still looking at 12 to 18 months of price corrections. It will be interesting to watch the perth market during this time.

 

True, I think the current falls will create a good buying opportunity but I wouldn't want to enter until the drop has finished. Hard to say how long it will be exactly but you might be about right around the timing - we will see when we get there! The good thing about Aus is so many markets and so many drivers so the options abound in most climates if you are prepared to look far enough.

 

For sure, it's only starting to spread out to some of the coastal areas too.
Still having a bit of a looksie further South and up North.