Sector, I believe the correct term is "Oxygen thief"....
Blackstone, In every market there is a bargain, boom or bust, the trick is finding it. If it were easy there would be a hell of a lot more wealthy property tycoons.
Look for a blue chip area close to a city. If you look on the inner outskirts of Sydney property prices have barely gone down if at all, even pre GFC. Location is extremely important, if the unemployment rises and Australia goes through a bit of a tough time, assuming our dollar also declines when inflation goes up with rates, then the market will be flooded with overseas investors, primarily Chinese as we have seen in the past. Some examples around Sydney at the moment would include: North Sydney and Ryde, I believe Crown property are doing large scale luxury developments in those area whereby most of the investors are from overseas. Also check out St.Leonards and Chatswood - a heap of overseas investment.
