I imagine this property to be close to the on/off ramp of the motorway so not a great location for housing. This was the problem in my opinion, values rose for undesirable properties stupidly. I saw some dumps in Sydney for over 1 million, very ordinary indeed. If someone has a million usually they can afford a nice house, quiet street, good neighbourhood, etc etc, there was no logic behind many valuations. Now we will see the quality locations/homes hold better value so do not see across the board falls like this...yet anyways.
