Over the past three months investor credit has grown at an annualised pace of just 5.3 per cent.
There will likely be worse to come for resources regions in 2016.
It is important to note that the mining towns crash was not caused by the government, the since-repealed mining tax (MRRT), or by mining companies, as is sometimes inferred - export volumes have ramped up just fine.
No, mining town property speculation was simply a flakey idea for long term investors, as was warned all along. No apologies here for sticking with a recommended strategy of long term buy and hold hold in capital cities throughout. Slow and steady wins the race.