Anna Porter

And it's actually the opposite, that properties may not achieve those premium prices they did three months ago.

So it's about knowing what's happening in real time and having a finger on the pulse.

Yeah, so every state has slightly different rules and processes around this.

For example, Adelaide and Brisbane, you do get 10 to 15 days often for your due diligence to do that valuation and get the finance approved.

That's pretty standard in the contract, so buyers have a lot of protection.

But in markets like Sydney and Melbourne and some of the other ones as well, it is very hard for buyers to have the time to do that when the market's so hot and a lot of contracts are unconditional.

So it does put a lot of pressure on buyers and we have seen over the last few years that has been skipped in the process by a lot of buyers and sometimes to their detriment.

So now it does give buyers that power back and it helps them have the time to make really good decisions and go through the process in an appropriate and a robust way, which every buyer should be doing.

Look, there certainly is.

And as a valuer, it's kind of hard to say that because we're very analytical and mathematical.

But buyers often say to me, you know, this house, I just love the feel of it or the neighbourhood feels good.

And how can you value that?

How do you put a value on that?

But the reality is, as a valuer, our job is to interpret those feelings.

feelings those things that make a house feel good should be quantifiable so when that buyer uses that gut instinct that says you know my gut says this is just a nice neighborhood or a nice house the natural light is beautiful as it comes in in the morning i can sit and have my coffee on the veranda

All of that is quantifiable and that's our job is to turn those instincts into the dollars and cents that the market will pay for that.

So there is a link there.

And when people buy a house, it is important to go off their gut because that's what's telling them where the right property will be versus the wrong property to a great extent.

I think we'll see a two-speed market form.

So the big markets that are quite unaffordable will start to see a bit of downward pricing trends because of the inflation and interest rate rises putting some pressure on those markets.