Melbourne needs a 10% drop to hit pre-Covid levels. Perth could fall 20% and still be at April 2025 prices. The buffer gap is wider than the headlines suggest.
Record apprenticeship commencements can't close a 126,000-worker gap widening faster than new entrants qualify, the supply constraint no zoning reform can fix.
Finance-approved buyers are forfeiting deposits and abandoning contracts in a gamble that prices will fall further, but the numbers suggest they may be wrong.
Investor loan commitments just posted their steepest dollar drop in a decade. The question isn't whether demand cooled, it's whether the mix coming back looks anything like the market that stalled.
Melbourne and Sydney clearance rates are falling, but top-end properties still attract multiple bidders while mid-tier stock sits. The gap tells you where price pressure lands next.
Loan sizes are climbing to new highs in states where investor activity remains firm, but the mechanics behind those numbers matter more than the headline.
Auction data shows 30.5% of sellers are landlords, but just 16% of buyers are investors, and first-home buyers are now on track to overtake investor lending by year's end.