So has the slumping property market still got a way to go you may ask. It depends on a lot of factors, and of course what location you are talking about. As I am in Australia, I will comment on that market in this article.

Most capital cities have seen falling property prices, and at the time of writing, Perth has seen the biggest drop. Let us remember though, that Perth has just come out of the biggest property boom that it has ever seen, and the property prices of eighteen months ago were quite inflated. In all capital cities we are seeing a correction.

In the inner ring of suburbs, property prices will be faring better than those in the mortgage belt. There are a lot more houses in the outer suburbs, and there is some pain out there. If anything, most areas will now stay flat, possibly for twelve or more months.

There are always exceptions to the rule, and there are still excellent properties that are appreciating in value. In order to find these properties, you must be doing focused research and really know a certain area of a city.

This is now a time to be doing that research, and getting ready to purchase investment property. Interest rates are coming down, rents are going up, and the crowd mentality is in a state of fear. This provides the informed and astute property investor an excellent opportunity to bargain hard for outstanding properties that may have been out of reach for the last few years.

There are lots of excellent property research tool available both on and off line to help you in your research, and they are a small price to pay for accurate data. Use of these tool will ensure that you are getting an excellent property in the right location, that will begin to appreciate quickly once the housing market begins to recover.

In conclusion, although the media screams doom and gloom about the property market, this is often the best time to take advantage of some fantastic opportunities and secure investment property that is now at it's proper, or undervalued market price. Through astute research, you can start or add to your investment property portfolio and put yourself in a position to generate fantastic returns when the market turns around in the near future.