This is a request for feedback, rather than information or analysis from me: if you wanted to see where the Australian property market is fragile now, where would you go?
Obvious places to check in general are Perth and Gold Coast, but I’d like some more specifics (suburbs and, if possible, streets) that only local knowledge can provide.
In the Australian context, foreclosures won’t provide the data–as a subscriber recently pointed out, there are only about 400 mortgagee sales listed countrywide on realestate.com.au. But there are about 4,000 “motivated vendors” out there, which is often a sign that vendors are under lender pressure to sell. Other useful indicators are areas where there have been substantial price drops.
Also, are there any spots where the property lobby might be able to argue that “the worst is over”?
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Thanks in advance, Steve