Australian property in a dismal state

According to the Australian newspaper - note the level of distressed sales and big problems in the Sunshine state of Queensland.

...Nationally, most receiver sales were in regional areas, with the highest number of distressed listings during the quarter in the agricultural sector. Residential property was next highest.
LandMark White found that almost 23 per cent of properties advertised in Australia during the quarter were listed by a mortgagee, receiver or liquidator....(here).

The only bright spot is sales to enriched Chinese officials (alledgedly) noticeable at the top end of the market (here).