Early data shows small declines in select Perth suburbs while agents dispute the scale, a test case for what happens when credit tightens in a supply-starved market.
Clearance rates dropped for the third straight week while auction volumes jumped 16%. Either vendors are testing stale price expectations or buyers are about to return.
Loan lodgements have fallen sharply since February, with investors pulling back hardest. The question now is whether this marks a turning point or just a pause.