Mr. Donnelly, whose firm has sold residential property in Australia worth more than A$1.2 billion to mostly overseas investors, says the market in Sydney and Brisbane could sidestep some of the weakness, largely because both fell behind in the recent development push.
Brisbane has also been weak, with prices off more than 6% this year, but much of the drop stems from the devastation to the capital of Queensland state earlier in the year from a series of floods."
Extract from WSJ report on decline in Australian property market