From the AFR:
Suburbs on the outer fringes of the nation’s capital cities are the next targets for nervous lenders tightening borrowing conditions for house buyers, according to confidential documents.
AMP, the nation’s largest diversified financial services group, is tightening lending limits and borrowing criteria for about 25 cities and outer suburbs, typically about one hours commute from the central business district, including Singleton, Morwell and Altona.
Cities include those hit hard by the mining downturn, such as Broken Hill, NSW; Gladstone and Emerald, in Qld, where dwelling construction started during the boom are being launched into flat markets.
That looks purely mining bust driven to me.