27/07/2026
A market correction is here. I've been speaking with Buyers' agent Justin Eslick from Investigate Property and the following are his observations and thoughts. Note that it does not constitute advice.
* ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐ ๐ฎ๐ฟ๐ฒ ๐ถ๐ป ๐ฟ๐ฒ๐น๐ฎ๐๐ถ๐ผ๐ป ๐๐ผ ๐๐ฟ๐ถ๐๐ฏ๐ฎ๐ป๐ฒ ๐ฟ๐ฒ๐๐ถ๐ฑ๐ฒ๐ป๐๐ถ๐ฎ๐น ๐ผ๐ป๐น๐
* Agents reporting lower enquiry numbers and lower groups through opens
* Buyers have gone from a fear of missing out to a fear of paying too much
* Offers are still coming through, but generally speaking you have to work with anything you've got within the first 2 weeks. Not much happening after that.
* I have had a couple of agents say they are shifting their cheaper stock (units, townhouses and average houses) still, but they are having a lot more trouble shifting anything mid priced or higher for a suburb
* I've noticed drops of around 5%. Some suburbs are possibly closer to 10%.
* But I am also hearing and seeing increased rents
We've gone from 4900 ads In Feb to 6700 ads now on realestate.com.au. BUT what I'm noticing is no increase in listings. In fact I am researching less properties now than I was 3 months ago. I think people don't want to sell, either because the market has slowed or the tax changes means they're best holding. I think what we're seeing to get us to 6700 ads is not an increase in listings but an increase in properties languishing on the market. ๐ ๐ ๐๐ต๐ผ๐๐ด๐ต๐๐ ๐ผ๐ป๐น๐ - ๐ ๐ฑ๐ผ๐ป'๐ ๐ต๐ฎ๐๐ฒ ๐๐ต๐ฒ ๐ฑ๐ฎ๐๐ฎ ๐๐ผ ๐ฐ๐ผ๐ป๐ณ๐ถ๐ฟ๐บ ๐๐ต๐ถ๐.
Every time the market slows we get this period where those already on the market have expectations too high so they sit there. We will see that start to change as they either drop their price or drop out. And anyone looking to come to the market from about now onwards are fully aware things have changed and will list prepared to meet the market.
As a result I believe now is a good time to buy. How long 'now' is I don't know. I maintain the slow market be short lived. Just how short I don't know. The fundamentals remain:
* Increasing rents
* Very much under supplied
* Net migration
* Olympics to build
* Tax changes affect most asset classes - if you aren't investing in property what are you investing in?
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For those Selling right now What feedback have you guys been getting?