I'd suggest that Brisbane is by far the better choice if you are...

I'd suggest that Brisbane is by far the better choice if you are concerned about a drop in prices. Brisbane is not over inflated like other cities, and good deals can be done. Rental wise a $400,000 property will return $400 /week in rent., ie a 4% return on your money after costs. Investment wise a $400,000 2 bedroom unit with a 20% deposit and rented can be paid off with the earnings alone. Reduce Home Loans is currently offering 2.69% for investment loans, my daughter recently refinanced at 2.19% with Reduce Home Loans. She bought her first home at 23 years old and is currently paying the loan off at double the normal rate as she can't travel, can't go to the movies etc. I'd bet a lot of young executives are currently doing the same.
Its far better to buy a property than pay rent especially when interest rates are so low as 50% of the monthly repayment will go off the principal, whereas paying rent is just making the landlord richer.
If prices crash then you'll see more investors jump into the market as the rental returns already outweight bank interest.