True ...i agree with you Dacata ...land prices are the key to what is going to happen in any property market.
When there is demand for land and supply of serviced is low ...prices go up ...and house/commercial prices go up.
When the supply of serviced land is high and there is not enough demand ...prices go south ...and house/commercial prices go south.
At present ...workers are being laid off in NSW and VIC and somewhat in SA. Hence, demand is weakening for land, even though supply of land is not great.
People are basically fear driven ...and hence workers suburbs in Sydney and Melbourne and Adelaide and some country areas are taking a dive south in prices.
In some places of growth area ...like where i live in Central Qld ...real estate is holding well, though some prices have flattened off a bit.
Nevertheless rents are going up and up here in Central Qld.
So, there is something good to be said for property, at the moment ...which can't be said for most of the ASX.
I will put the full version of my lingo interpretation of what is happening in property on the next posting.
