"When and if the property market takes a dive, the holiday house...

"When and if the property market takes a dive, the holiday house is the first to go, then the investment property together with the multi million dollar ranch and then the family home, all occuring probably simultaneously to be honest!"


If the recent NZ property dive is a good example of what might happen to Oz, the NZ sequence has gone like this:

First: High-priced, land/property on holiday destinations (especially waterfront). This was clearly the beginning of the slump.

Second: Cheap, low quality downtown apartments (mainly for overseas students). This was the target of mom and pop 'investors'

Third: Good quality apartments

Fourth: Upmarket family homes

Fifth: Mid/low-priced family homes (not a significant price decrease but a significantly longer days-to-sell)