Im a real estate agent on the gold coast and I can tell you that...

Im a real estate agent on the gold coast and I can tell you that the real picture is even worse than those stats.

Avge clearance rates are more like 5-6% here. The stats of 30% sold by a group auction of ray white properties is only a snapshot of a wider, worser market.

Time on the market is avge 90 days and over, and most of them retire hurt, withdrawn and unsold.

the gap between buyers expectations and sellers hopes is wideneing.Ive got properties that are priced 10% lower than this time last year and we just cant get inspections, let alone offers.

USA and UK markets have been falling for 2-3 years, so ours could go a lot lower yet.

Theres no relief from interest rates on the horizon, so buyers are saying 'why should I buy now, when it might be cheaper in a few months?'

Its coming to an area near you , if it hasnt already.

Yes, Im a cheery fellow, arent I? ;-)