Million dollar houses in Mosman, Palm Beach & eastern suburbs are seeing a reduction of 15% or more ie you can get a bargain as there are a lot of distressed sellers.
Or buy in the western suburbs - this is where the property bubble has burst. more value when Unemployment hits 7% or more.
Below $600,000 there is intense competition. the equation of rent v mortgage favours purchase. Landlords are not reducing their rents.
inner city suburbs units are expected to see capital growth, even in a recession.
