"Until you see rental vacancies rise I would not expect house prices to fall by more than a few percent."
Copied from other people on the other thread because I'm lazy.
https://www.domain.com.au/news/vacancy-rates-jump-in-april-955234/Holiday hotspots and CBD locations have been hardest hit.
The vacancy rate in the Sydney CBD more than doubled from 5.7 per cent in March to 13.8 per cent in April – a record high on the SQM series – with the Brisbane CBD close behind with an increase from 5.7 to 11.3 per cent.
Melbourne’s CBD fared better with the vacancy rate increasing 2.6 percentage points to 7.6 per cent, however in Southbank the vacancy rate jumped from 5 per cent to a whopping 13 per cent.
