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I watch little things to spot trends. They can give you an indicator of what is happening faster than official statistics which take time to collect compile and publish.
There are some things which give early warning- for example a local chirporactor saw his business drop off sharply months before the last recession was declared. I see in Inner West Sydney more To Let signs for longer on commercial cottages than I have seen for a long while. But on the other hand I am almost beseiged by people wanting to BUY mine, which is commercially zoned, dilapidated and under repair. Hardly a week goes by without someone asking me if I want to sell it, even knocking on the door as I work.
Rental vacancy rates are rock bottom and rents are climbing high with a desperate shortage of residential rental property at least in part due to crippling Land Tax. I can get double what I got a few years ago in western sydney and almost that nearer the beaches. have to. The State govt takes so much. So its uneven. The place I am working in is crawling with accountants, financial planners, insurance people, building security consultants, building inspectors, lawyers, and loan operators and mortgage brokers. On top of this are ghetto-building new arrivals, hordes of them, mostly Indians.
