It’s awwn. Last week was the pivot. It began with Gottiboff:
Significant parts of the Sydney apartment market and the associated apartment land markets have cracked and are now suffering serious falls.
The level of decline is much greater than most were predicting three to six months ago. The repercussions of what has happened in Sydney will quickly spread to Melbourne, although the blows may not be as severe in the southern capital because apartments are already much cheaper than Sydney. Brisbane is already in trouble so may be insulated from further big falls.