833 is the way we buy & sell property about to change forever?

Yeah.

Well, I think I also probably alluded back then, uh, to the condition of the market, and we're seeing at the moment, as, uh, as the great Tom Panos recently described, I mean, I think on the weekend he was out saying it's the worst thing that he's seen in 30 years.

Um, probably skewed a little bit to the particular section of the market that he was experiencing there.

Pretty tough at the moment.

Um, however, you've got to look through that, and you've got to look back as well to see how hard markets have run, and, you know, we're talking probably a correction in annualized terms between the two biggest correcting markets, Sydney and Melbourne, somewhere in the vicinity of 10 to 12, maybe 13 to 14% annualized at the moment.

Um, [clears throat] expecting that to continue certainly for the next few months and probably for the balance of the calendar 2026 year.

Um, but there's little signs starting to come of stabilization, and you'll see that.

You'll see where the market starts to find its natural level.

Mm.

Um, it is a great upgraders market, of course, and you see that if there is a consistent fall in higher priced properties, say, 10% off a, say, a $5 million home is 500,000, but a 10% reduction off a 3 million home-

Mm

... is 300,000.

So the purchasing power of those dollars for the upgrader is greater.

But what we're seeing is an exacerbation of that at the moment, where the falls in the higher priced properties are actually greater by percentage terms as well.

Yes.

So for those that are in a position to take advantage of that, of course, human nature is to bunker down and wait, and maybe wait until the market bottoms and you're unsure.

But those that are successful over a long period of time are always taking some form of action.

So-

Mm

... that's the market that we're seeing at the moment.

Clearance rates, of course, again, a very small subsection of the market, because auctions are becoming less prevalent at the moment.

But some really, really low numbers there, and we were talking before.

You know, we saw Brisbane that's run so hard over the last couple of years, and they had a clearance rate of, wait for it, 11 and a half percent-

Mm

... last weekend.