Continuing with the pricing theme, the Perth land market provides a good example of what happens to land prices when the wider housing market stumbles. In mid 2014, Estimated land prices flat lined [ due to house prices stalling ]. Then in late 2015, the Estimated land price fell, once again following the downward trend for house prices. The local Developers over shot the Estimated price line from mid 2014 through to mid 2015. This coincided with land sale volumes falling [ grey area]. Late 2016, Actual pricing fell below Estimated. The Actual land price relative to current market setting is now solid. Perth land prices fall back into line.