The property decline is still in its first couple of months, syd down about 5%, melb 3%. Both predicted to be down 15%+ in a few months. What that does to new listings next year probably isnt going to be great. They are predicting declines in listing but they're being very sanguine about the market (for obvious reasons). As I mentioned in another post the boom in active listings is in part surely a blow out in time to sell.
However, interesting point on the call was that during the 21' boom lots of agents were getting a decent percentage of sales done off market, maybe upwards of 20%. So, maybe that acts as a bit of a cushion along with increased premium uptake.
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