Seems to be cheap areas get flooded with property investors as its a cheap way to get into the market, the more outer areas which are holiday homes and weekenders get picked up in boom time..
These areas boom hard on the way up, when the cycle turns these are also the first to be sold off.. Like how when a financial crisis hits you see lots of expensive sports cars up for sale.. people sell assetts they dont need to raise cash to look after their more important interests.
Sort of like how penny stocks boom hard in a bull market, but crash before blue chip when the sell off starts, as people axe the penny stocks to pay out their margin calls etc on the blue chips which they are more interested in protecting.. like seen in the GFC
