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We've reached the bottom: Satterley

Property developer Nigel Satterley believes the Perth residential property market is virtually at the bottom of its downward cycle, with increases to the first home owners grant and the drop in interest rates injecting some stimulus into the market.

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Comments

Murdoch
Utter rubbish. First you real estate agents said that the boom will go on for 20 years sparking a huge buy-off while putting many families in hardship buying out of desperation in order to get into the market. Now you say that we have hit bottom, most obviously to kick-start the market and fill your pockets again. Have you no shame? I hope you sleep well at nights.

Perth
You can't be serious, a bottom in the the market before a major economic slow down in Australia. The housing bubble is a long way from being deflated. Buyers don't be sucked in by this shameless spruiking.

Vancouver
Is this guy serious? His comments are almost laughable, at the bottom when its been three months into the downturn. Commodities bubble torn to shreds and will be several years to gain some momentum. US heading into their third year of decline and still no bottom. Mmmm, what is Nig's occupation again? That explains alot. Remind me to never buy in one of this guys projects. Please follow up with this guy in 12 months to see how his projections have panned out.

Derby
We might not be quite rock bottom yet, but when this thing turns around Perth prices will sky rocket. India and China will be itching to tear into our resources. Our population will increase as workers pour into the state and rents will be astronomical. It might take 2 or 3 years but it will happen. Once the sub prime problems in the US have been cleaned up I predict the DOW to hit 20,000 by 2011 and the ASX 12,000.

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