Scott O'Neill

And we've seen a huge slump up in demand for residential, mostly in

investors and owner occupiers due to their lending capacities being reduced.

That's causing price falls in all these cities.

But that's not been seen to the same level in the office or retail markets because the demand is so much higher versus the supply on the ground.

So there's just not many properties for sale.

And residential,

We're seeing stock levels increase a lot.

So that's contributing to giving the remaining investors and home buyers a lot of options to choose from.

And they're going to be more negotiable when they're to get a buyer.

That's not the trend in commercial.

Industrial, the one that's improving, that's just going from strength to strength.

There is an actual massive shortage of these properties.

CBRE rates the vacancy rate for industrial properties is 0.8% in Australia, which makes it the tightest leasing market in the world for industrial.

So you can see there's a lot of strength in certain subsectors of the market.

Well, it's coming off a low base, Craig.

So there's good deals out there.

But at the end of the day, a lot of the sellers are very cashed up super funds and people with hundreds of millions of dollars.

They don't just sell assets because there's a slight bump in the vacancy.

And the vacancies are dropping right now.

They roughly doubled.