pretty gloomy scenario---reality many o/s investors have bought aus property as a hedge play,if property dropped 50% unilaterally ,we would be traveling at prices of 10-12 years ago,in my area ,your area must have had a raging ride----just cannot see the RBA behaving irresponsibly,and should wages remain the same, along with goods and material thenh all the value would come out of the land---might happen in some resource boom affected areas but the greater metropolis i think not---and should it happen the swagman would have a rebirth in australian culture.
nsw is fine so far,some settling,prices in new areas are down from 2004 and actually if you do not object to a small block they are good value
