In my area of close RE scrutiny (NSW coastal properties south of Sydney between $1 and $2 million) are still selling like hotcakes, despite high interest rates and the plateauing of asking prices. I would posit that the majority of buyers are retiring Baby Boomers unfettered by mortgage requirements, many of whom are adding to their general wealth due to the acceleration of their parents reaching their 80's/90's and shrugging off their mortal coils - resulting in bequests. With the exception of Byron Bay where prices got ahead of the market, which has now retreated, the entirety of the NSW coast is still experiencing solid demand - probably due to the said aforementioned dynamic. I mention the above because it adds another arrow to the highly complex nature of this unprecedented RE market.
