The analysis ranks all of the postcodes of the capital cities according to how susceptible there are to further price falls. “Property crashes can be long and drawn-out and downturns may last several years before levelling out," says Bessie Hassan, a spokeswoman for Finder. In September, Finder’s panel of 30 economists and experts had an average prediction that the property downturn could last 20 months and up to 24 months in Sydney and Melbourne. “This property downturn is being experienced far and wide and doesn’t appear to be slowing down – many regions across the nation have been affected," Hassan says.

The analysis takes into account price rises and falls over the past 12 months to June 30, the average time taken to sell a property, as well as the vendor discounts on properties. The data is sourced from property researcher CoreLogic. Finder has included figures from the Australian Bureau of Statistics on the proportion of properties in each postcode with a mortgage to produce its Boom and Doom Property index. The higher the proportion of properties owned outright, the less vulnerable the postcode is to further price falls. Each postcode is given a score out of 100. A score of more than 80 is deemed to be "safe" from further significant price falls and those with scores of less than 40 are "very vulnerable" to further significant price falls. Heritage apartment should hold value

Rhonda Hirst is renting an apartment in South Yarra until her off-the-plan apartment in Windsor is completed next year. Rhonda Hirst bought an off-the-plan apartment in Windsor, Melbourne that will complete next year Credit:Fairfax Media The 41-year- old communications manager bought the two-bedroom apartment two years ago. On Finder's Boom and Doom Property index, apartments in Windsor are classified as "vulnerable" to further price falls, but Hirst is not worried. "I don't take too much notice of what's happening with prices: I did my research and I feel I paid a really good price," she says.

It is a long-term investment and Hirst is confident the valuation on the property will hold up when it comes time for her lender to value the property. Her new apartment has a heritage facade. "If I had bought a stock-standard, off-the-plan apartment, which was one of 300, I'd be concerned, but there's an element of uniqueness about my apartment and the building," she says. Best and worst The most worrisome postcode of any of our capital cities is in Perth postcode 6069.

The postcode takes in Ellenbrook, Aveley, Belhus and the Upper Swan and vendors of all properties (houses, units) are discounting properties by around 9 per cent. Loading “While price discounting is scary enough, homes in the Ellenbrook, Aveley, Belhus and Upper Swan regions are spending an average of almost four months on market prior to being sold, more than twice the national average of 1½ months,” Hassan says. “However above all, the most precarious issue may just be the proportion of homes that have a mortgage attached - almost two in three of homes in the 6069 Perth postcode are repaying a home loan, making it more susceptible to a downturn in prices", Hassan says. When it comes to regions that are most likely to "boom" – regions that are seeing property price rises, rapid sales and minimal discounting – Hobart tops the list.

The top three boom postcodes from all of the capital city postcodes, are all in Hobart – postcodes 7000, 7004 and 7053 are seeing homes sell in under 10 days, with price rises in the past year from of between 16 to almost 30 per cent. Suburbs in the central Hobart postcode of 7000 (Glebe, Mount Stuart, North Hobart, Hobart and Queens Domain) are deemed the safest on the index, having jumped 17 per cent in property value in the year to June 30. Battery Point and South Hobart (7004) are also in equal first place, while Bonnet Hill and Taroona are second (7053). Loading Replay Replay video Play video Play video Mortgage a “burden” for most

Most of those with a mortgage says they feel is it a burden and limiting their lifestyle. A survey by YouGov Galaxy of more than 1000 people, commissioned by customer-owned BankGateway in August this year, found almost six of out of ten consider their home loan to be a burden. Paul Thomas, the chief executive of Gateway Bank, says in order to get their foot on the property ladder some have become over-indebted. The ratio of household debt to annualised household disposable income tracked by the Reserve Bank of Australia reached a record high of just over 190 in the March 2018 quarter. It was almost 180 in the September 2016 quarter and almost 170 in March 2015. It was 100 in the September 1998 quarter.

“Add to this the steep decline in household savings, which is currently at 1 per cent and you have yourself a recipe for mortgage stress.” Thomas says. Looking at metropolitan hubs across the country, Adelaide residents topped the nation for mortgage stress, with 63 per cent of Adelaide residents considering their home loans to be a burden. Perhaps surprisingly, Sydneysiders recorded the lowest percentage of burdened homeowners with 54 per cent considering their home loans to be a burden. This was followed by Melbourne (58 per cent), Darwin (61 per cent), Brisbane (61 per cent) and Perth (62 per cent).