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Perth house prices worrying: RP Data

Property researcher RP Data says Perth's house prices are cause for concern as Armadale, Parmelia and Brookdale are found to be the cheapest suburbs in the metropolitan area.

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Perth
The penny is beginning to drop, finally

Perth
Maybe Stephen Keen [the so-called disgraced economist] might actually be right about house prices falling. He still maintains a 10 -20 per cent drop will come. He sold his house, & isn't buying. Probably more so when the interest rates are predicted to hit 10 per cent within two years. Keen says the only reason home prices didn't fall further during the recent GFC event, was due to Govt intervention & the lifting of 100 per cent foreign ownership of domestic housing.

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