My understanding is that the over $1m to $1.4 is still going ok. but that doesn't really buy you much here.
Its the over $1.5m that is really struggling.
Rentals are definitely hanging around. One agent we talked to stated: "you used to able to slap $1,500 a week on anything that was decent and it would be gone, but now things have to compete."
I believe we have traditionally suffered from weak $AU and a lot of local expats driving prices up. Expats are now struggling with rental prices and many seem to have gone home too....
A lot of folk around here still spend a lot of money trying to look rich. If we do have a fall, it will hurt pride and lifestyle in a big way.
