Hi everyone.
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”?
If you’d like to help out here and you haven’t previously posted on the blog, there’s an approval process that will get in the way of your post turning up immediately: I have to vet first posts as a spam-control measure. So don’t worry if it takes a day or so for your post to appear (I’m also in transit tomorrow from Argentina to Sydney).
If you’d prefer not to post on the blog, then please just drop me an email to my gmail address: debunking@gmail.com.
Thanks in advance, Steve
