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Property Plunge in Australia?

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Australia Housing Market

Is there a property plunge happening here in Australia? Here is a Channel 7 Today Tonight’s video report documentary about the state of property in major Australian Cities. This clip provides an overview of those parts of the country where property prices are at real risk of collapse.

Today Tonight reported that “Every state is being hit by the property slump. If you’re trying to sell property in Moira in Victoria, it’s taking much longer. In Kempsey NSW properties aren’t moving for on average 140 days. Harvey in Western Australia – 137 days. The South Burnett and Scenic Rim in Queensland – 136 days.”