Rich OZ suburbs could be hit by defaults at property owners over stretch themselves, it is claimed

[Nicholas Wallwork]

Property owners in some of the top suburbs in Australia are in danger of suffering financial distress as interest rates are expected to rise and the government's first home owner's grants comes to an end.

A staggering a third of the country has entered the danger zone for financial distress, despite signs that economic conditions are improving, according to research from Dunn & Bradstreet.

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[Nick Brian]

I didn't know about the suburban but Sydney and other major cities are gaining price of properties there. Santa Cruz California also a better place to do real estate business.