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Courtesy of RPData:
An interesting contrast between the two cities. Sydney is definitely in trouble in the West and South West with other markets booming. As MB has described before, this is precisely how the 2003 bust proceeded with the South West bust stalling the “move up ladder” and flattening out the high demand inner suburbs:
Of course, that soft landing was supported by the mining boom. No such luck this time. By contrast, Melbourne is undergoing a more generalised fade though why Gellong is so strong I have no idea!
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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