[Yellow_Festiva]

I'm casually observing the market and have a whole bunch of properties saved on my short list.

8-9 months ago price changes were + and most properties were selling at auction in a frenzy well above expectations.

The last few months have seen a drastic change. Prices are being reduced and many properties are being removed from sale.

8-9 months ago many agents didn't bother returning calls or replying to emails and properties were practically selling themselves.

Those same agents are now calling me and introducing me to properties on an almost weekly basis and making it clear the vendors are open to meeting the market.

I'm still semi-interested in buying something, however I'll wait till Jan of next year before I get serious.

By then, we would have had a few more rate rises and I will get a better gauge of what is happening in the market.

I agree that drops of 15-20% in Sydney in certain areas are on the cards. Places are getting listed now at prices that I would have considered a bargain several months ago.