Sydney property – what is the real trend in the lower north shore?

hi all

i 've read/heard that lower value properties <$800k are doing well because of low interest rates/FHOG but the top end of the market >$2mill is suffering.

How does this apply to the market in the lower north shore of Sydney?  pretty much all of the family homes here seem to cost between $1-2mill – so does this count as the 'top end' of the market which is suffering or not?  I suspect not, as most of the properties are in this price range so it reporesents the bottom end of the market for this region.

from my weekend inspections my impression is that there are increasingly large numbers of people at every open for inspection and prices do not really seem to be dropping significantly, especially in the $1-1.6mill range which i have been most interested in (frustrating for me). All of the last 4 properties I have been interested in have either sold b4 auction or  in excess of the asking price

I have been thinking about postponing buying a PPOR as many news articles predict further large falls (10-40%) to come over the next 24months, but i just can't see that happening in the lower north shore because there seems to be a shortage of stock for sale and plenty of buyers in the $1-1.6mill price range

do you think my impressions are correct and what do you think will happen to property prices in this price range/area?

thanks