Signs of impending recession that I have noticed in the last six months. According to the Australian Financial Review this week consumers in the last quarter are on a buying strike, so if next quarter shows negative spending too we are officially in trouble. In the meantime, I have noticed:
- This one is very recent, a massive up take in families walking together. Cheap recreation. Last two weeks this has noticably and dramatically increased.
- Easier to get parking and fewer shoppers in major shopping centres.
- Regional shops with national brands shutting down.
- Popular stores staying in area but downsizing store.
- For lease signs outside business premises.
- Reduction in housing prices.
- Bank sales increasing.
- Reduced spending in cafes.
- Land for sale in some areas, was $40 k, now "negotiatible".
- Rural property and outskirts getting cheaper, some markets have peaked. One area similar house sold for 270k six months ago, better house with waterview a couple of kms away now 190k.