Andrew Wheatley

Absolutely.

And I guess there's different categories of people here.

So I'll have some clients like I'm thinking of Peter and Lucy, a couple I've worked with that just bought a property.

They had the capacity to borrow about a million dollars from any bank in Australia and they only wanted to buy something for about 700.

So the issue we're talking about doesn't affect them at all because they were never going to get affected.

The people it applies to are people who want to borrow up around the maximum.

If you're trying to squeeze the most you can out of a bank, then every single time rates change, that changes for you.

Another example is a single mom that I'm working with, Scarlett.

The price she wants to buy for around sort of $500,000 is pretty much exactly what she can borrow.

So the very next rate rise that happens, she's got to reduce the price of the properties that she's looking at.

that constant changing of expectation for someone in that situation, you know, I think is really stressful.

And again, it's not something that we've had to deal with over the last few years.

It's just been because of all these rapid rate rises.

Oh, definitely.

Yeah.

A year ago, if I'm talking to clients, I would have been saying, when you find the property and it's the right price, don't mess around, get in and buy it.

And have your pre-approval lined up and be prepared to make an unconditional offer because if you won't, somebody else probably will and you're going to keep missing out on property.

And I had clients who...

It cost them a lot of money because they kept missing out, kept missing out while property was rising.

But over the last few months, it's certainly tipped more to the side of the people who are buying.