I dont want to rain on anyone’s parade but looking at historical prices may not be all that relevant.

Before launching into why, it might be instructive to look at a few examples in other countries

Finland 1987. Real estate prices fell 50% in two years and still not have reached those boom levels

Japan 1989. Property market fell spectacularly (at the time Tokyo was worth more than the whole USA) and continues downwards 15 years later.

Early 1990s – Southern England house prices fall by 50%.

So why doesn’t it happen in Australia? Simple – immigration keeps pressure on housing markets so they never fall very far.

However with birth rates headed below replacement since 1991, in the manner of Europe and Japan, it is only a matter of time before we start to see stock market – type crashes in property markets.

In the meantime – house prices are pumped up by baby boomers seeking retirement nest egs. Possibly 10 good year left in it – so make hay!