But REA Group chief executive Owen Wilson warned some of the reactions to the new rules were "over-stated", and auctions were a minority of property sales, while he expected prices might reduce slightly rather than crash.
"I think anything that gets in the way and causes friction to any marketplace ... is going to have an impact," he said, although he said the property market had proved "resilient" over time, including bouncing back quickly after SARS. "There is a natural pent-up demand for people who have sold and need to buy a new home and there will be a rebound when this is over."
McGrath Estate Agents founder John McGrath said for those not fearful of unemployment it was still "business as usual".
Good. Reality coming back into this rediculous property market.
Good time to buy! And with the viral spanner thrown at foreign sponsored international students rorting foreign ownership laws, we may also see local supply having to balance itself with local demand instead artificial foreign demand.
Got told from a banker that she wouldn’t lend to anyone .... cash sales only
You did mean inspection? We have enough infections already.
Because there's no Chinese coming in with bags of cash.
That’s the governments intention to stagnate the economy .
auspropertyscam Only 50%?