It's well reported in the media that Sydney & Melbourne are likely to have a correction (Perth is still in the doldrums, and Adelaide is...well..it's Adelaide, barrels are still in demand)...
1. Federal government clamping down on Chinese property buyers (there are a lot of empty houses and apartments, some haven't even been fitted out with bathrooms or kitchens. Chinese have a long term view).
2. Banks have tightened lending criteria and even more so on investment property lending.
3. Over supply of apartments with a truckload still in construction.
4. Property developers who rely on rolling selling-off-the-plan to fund construction are going to the wall.
However, inner circle homes (near city) and top-end properties are still doing Ok.
It's cyclical.
General Comments & Banter, page-5670
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