Dr Sam Wylie

You know, I was going to move from Carlton in Melbourne to Noosa in Queensland, but now I'm not.

because my house price has gone down.

When the house prices go down, people pull back from the market.

Supply goes down.

What meets a fall in demand in the housing market is a fall in supply.

Now I'm not making this up.

This has happened over and over again in Australia and around the world.

This is just a very well-known thing.

That reductions in demand, which will come if interest rates go up a lot, won't be as much as people think by a fall in price because it'll be met by a fall in supply.

People will withdraw from the market.

So I don't think people should worry about increases in prices tanking the real estate market as much as they have been worrying about it.

Yeah, and it's hard to time it, isn't it?

Look, I think the main thing, Kate, is that you shouldn't be worried.

You shouldn't have a fear of missing out at the moment.

You shouldn't be worried that prices are going to zoom up.

So you should take your time.

That's what I would do if I was you.

And the other thing that I would do is I spend a lot of, I know you didn't ask me for your advice on this, but I'll just give you some- I'm happy for your advice.

The other thing you should do is if you don't know where the bottom of the market is, you should put in low ball offers.

This is sort of a general idea.