Frances Cook

things went a bit mad and all of those fundamentals were thrown out of the window and people were just trying to buy property, any property.

And so some things sold for prices that you look back now with clear eyes, it's so obvious what happened.

It didn't feel that way in the moment.

So I do feel sorry for people.

I think it's worth remembering though, the median loss here is more around the sort of the $50,000 mark.

And that is comforting where there are some big outliers here with some people that have taken...

really big falls in value of property, but there are sort of more manageable average figures.

So hopefully people don't panic too much when they look back at those average figures.

It is.

It is.

And I would say like those are coming from places that are really hot property markets.

You know, if you're looking at someone like Remy Rader, that is extremely high property values in the first place.

So I'd love to know.

I don't have the figures there on what percentage that is, but it is eye-watering no matter what.

Yeah, I think there'll be a lot of investors hit by this and that's sort of, nobody ever wants to lose money, but that's sort of part of the risk when you invest, right?

So I'm somewhat less concerned for the investors who might be choosing to sell.

I'm more concerned for if it was a first home buyer who maybe was quite a low deposit investor

mortgage they will be hit really hard by this and they could be very worried and they won't have much margin for error so that's more the cohort that i worry in a moment like this

Well, yeah, it's quite interesting because there was also some research that came out earlier this week as well, talking about older generation who usually look to downsize, but also are not that interested in townhouses.

And so I do think there's a bit of a crunch point and we're seeing that now in terms of how we envision where we want to live and what people can afford.