My Bui
speaker
229 appearances
2 recordings
1 series
first heard Jun 2026
last heard 7 Jul
My Bui’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.
Appearances
So a 7% decline, 7 to 10% decline is actually quite normal correction over the last 20, 30 years in terms of Australian housing market.
And also fun fact, we have never seen a more than 10% decline since World War II.
Yeah, I mean, overall, obviously, you know, if you're not in the market yet, you probably would be happy if price falls.
But of course, big price falls are not good.
And why is that?
Because two thirds of households in Australia actually own their homes either with or without a mortgage.
So when you see a massive decline in housing prices, you will see a decline in household wealth.
You will see a decline in consumer sentiment.
And the negative wealth impact can actually prevent people from spending more as well.
That means small businesses don't get customers.
That means people don't want to hire more because you see the value of the property goes down.
So I'm not really advocating for price falls here.
And I think it would be concerning if we see a 15% to 20% fall in the market.
Of course, it's a long way to go there.
No one has a crystal ball to see if we actually get there or not.
So people tend to look at things like auction clearance rates to see if it's depressed for a long time.
Right now, auction clearance rates are slightly below 50 for Sydney and Melbourne, but it's still around the low range that we have seen over the past 10 years or so.
So it's not really concerning yet.
The lows back in 2018-19 was actually 38%.
So I would say if we see it going down to that level and stay there for a while, for a few months or so, then I would be quite concerned about a bigger fall, a bigger downturn in the housing market.
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