Emma Brown Garrett

In Sydney, it's not just fewer properties selling, it's fewer homeowners are putting their properties on the market in the first place.

So for more on this, I'm joined by leading auctioneer Emma Brown-Garrett.

Emma, it's great to see you.

Thanks for having me back.

If nothing else, so if there is a recession or there is some sort of crisis point, they can cut rates because at the moment they haven't got much scope to cut rates if inflation continues to bubble away, even in the face of a recession.

So they've got to get on with it and really get that interest rate up towards 5% because it's just not the right level and it hasn't been for the last few years.

And Warren, you just briefly mentioned housing, and I did just have Emma Brown-Garrett on regarding this topic, but we didn't discuss around the cash rate and if it's lifted, what that's likely to do to the housing market.

What do you foresee happening? Because we saw a slight increase in auction clearance rates yesterday, but will this go the other way if the RBA lifts the cash rate?