hawkers, most home buyers are owner occupiers. They buy property primarily to have a roof over their head and not be trapped into renting. What they would otherwise pay in rent pays down their mortgage, Capital gains is just a bonus.
For investors, they know pretty well what rental return they will get and what they have to payout to hold. Capital gains is not realised until they sell and again that would be well down the track.
Property is not like the stock market where you can buy and sell at the drop of a hat and share prices can fluctuate huge amounts.
I also point out that demand for housing doesn't change much with fluctuations in interest rates or employment, people have to have some where to live, either they own their home or they rent
