"Western Australia is looming as this year’s distressed property hot spot, according to insolvency practitioners. They also warn Queensland will experience no relief from its wave of receiver appointments, after it represented more than half of distressed property listings last year.
PPB Advisory head of real estate Brett Lord said WA had an oversupply of residential subdivisions, particularly on the city fringes and in southern regional areas such as Busselton.
“The short answer is there’s a lot of pain to come,” he said."
