Veronica Morgan

Melbourne should have taken off in 2025 when rates started falling, you know.

So I think what we need to recognise is that Australia is more than just one property market.

Not all markets move in sync.

Even within a capital city, you've got different, you know, you've got micro markets and interest rates don't affect everybody equally.

If you really don't want rates to go up and your mortgage repayments to go up, then stop spending it as Christmas on bulk, you know.

That's such a good question.

You know, I go to auctions both to bid and also for sport effectively because I just find them fascinating.

And the amount of times you see people that are bidding really confidently and then I think, wow, they've just got it all going.

They've really got deadpan faces.

They're scaring everybody off.

But the minute they hit their limit, they really –

They show everything and they give the whole game away.

And then they keep bidding, you know.

So they haven't really set their limit.

They've just set a limit of what they'd like to pay, not what they would if they had to.

And that is an absolute critical difference with the way most buyers go to auction versus the way I would go to auction or the way I would encourage a client or one of our students in Homebuyer Academy.

In order to set your limit, I talk about four pillars, right?

First is you've got to understand what the property is worth in the current market.

So you do need to do your comparable sales analysis and work out really where does that property sit in relation to everything else and how unique and scarce is it?

How good is it as an asset and how hotly contested would that be versus something that might not be as good an asset?