That's a very bold thing to claim, Australia is a very big place, cities such as Sydney and Melbourne were doing well last year, Sydney still reported positive growth for the last quarter.<p>Although the Jan/Feb lending figures were indeed indicative of a slowdown, for NSW(where Sydney is) at least, they have rebounded somewhat in the latest AFG figures:
<a href="http://corporate.afgonline.com.au/idc/groups/public/documents/web_content/mortgageindex-apr11-nsw.pdf" rel="nofollow">http://corporate.afgonline.com.au/idc/groups/public/document...</a><p>AFG is a mortgage broker responsible for 10% of lending in Australia, their figures are updated monthly and are a good leading indicator of the slower official government stats.