Tony Alexander

If people don't have confidence about retaining their job or getting a replacement if they get laid off,

then they're going to hold back from making a property purchase.

And the survey there shows that about 51% of the agents believe that people are worried about their jobs.

Late last year, or in fact early this year, that was only 33%.

So that has also turned around and can have a big impact.

Yeah, that'll just be for the sale price that comes about.

It's just a general question to the agents.

Do you reckon they're going up?

Do you reckon they're going down?

And they have so many say they reckon they're going down.

Like I say, it puts the power on the part of the buyers.

And the vendors, if you want to sell your property and move on with your life, you've got to get realistic.

No, a lot of them are dreaming.

There's a good number of people paid top prices in 2021 and hope they're going to get back the price.

But on average, we're down 15%, 20% from the prices there.

And if they're hanging out for that, they could be waiting another three or four years, quite frankly.

And my recommendation is, if you can, bite the bullet and get on with other aspects of your life.

It's going to take a while to get back to where we were.

Like I say, the interest rates were already going up.

The monetary policy cycle is now into the tightening phase from maybe late this year through 2027, 2028.