Sydney homeowners rush to sell, page-26

Mate way too hard to call or even speculate on.

The UK went through a pretty ugly correction - up to 40% in some places.

Refer to my last post - taking the froth out of the market. I live in Manly; areas like this will always have buyers, but they're very educated buyers (generally), so will pull back as soon as sentiment changes and it flips back to a buyers market.

Other areas of the market, once supply steps back in, might see a round of panic selling - if you have a suburb where there are plenty of similar houses (say a basic 3 bed for $900k, which is the "standard" price) - and you see a glut of supply enter, you will always have a handful of vendors / agents who will drop the price to be the first out the door.

This then prompts the market to see a slight capitulation from vendors, so the buyers see the supply coming back, prices being dropped (albiet a small degree), and that starts a small chain reaction.