I'm watching the prices in my area drop quite substantially over the last 6 months, from a terrace going for about $1.5mil to down to the $1mil mark. One in my street was on the market for a couple of months, I honestly thought a 4 bedroom, 2 bathroom, 2 car park terrace less than 5kms from the CBD would be snapped up quicker. The amount of time it was on the market is pretty unheard of according to the long time locals that I chat to.

I'm watching the market, would like to buy in the next 6-12 months but that is dependant on a few things.