Buyers Are Walking Away. How Low Will Sellers Go?

Australia’s housing downturn is getting harder to ignore. National house prices have just recorded their steepest quarterly fall on record, every capital city fell over the quarter, and Morgan Stanley is forecasting a 15% national decline by the end of 2027. John breaks down what the latest property data means, why some Sydney suburbs are already down more than 20%, and why buyers appear to be shifting from fear of missing out to fear of overpaying. At the same time, inflation has come in hotter than expected and markets are pricing a high chance of another RBA rate rise. That comes as Roy Morgan estimates 1.75 million Australian mortgage holders are already at risk of mortgage stress, raising serious questions about how much more pressure households can absorb. John also looks at how the housing slowdown is beginning to spread into the wider economy. Furniture, electronics and home improvement retailers are starting to feel the impact as property transactions fall, while Fantastic Furniture has closed its final Australian manufacturing facility at Fairfield East, affecting around 100 jobs. The episode also covers the ATO’s backflip on credit card tax payments, the pressure facing small businesses, and why John disagrees with calls for a prolonged period of government austerity. His argument is simple: cut waste, but keep investing in the things that increase Australia’s productive capacity, including energy, housing, infrastructure, skills and manufacturing. Need an accountant? GET A FREE CONSULTATION FOR ALL ABN HOLDERS https://forms.zohopublic.com/john205/... OUR SERVICES https://latitudeaccountants.com.au/ac... Info@latitudeaccountants.com.au TikTok   / latitudeaccountants   Instagram   / latitudeaccountants   YouTube    / @latitudeaccountants   LinkedIn   / latitude-accountants   Facebook   / latitudeaccountants   Website https://latitudeaccountants.com.au/ This content is general information only and does not constitute financial, tax, accounting, legal, property or business advice. Speak with a qualified adviser about your own circumstances. Chapters 00:00 Australia’s Housing Downturn Gets Worse 03:09 Biggest House Price Plunge in 40 Years 08:42 Sydney Suburbs Fall Up to 22% 13:04 Melbourne Cup Day Rate Hike Coming? 16:32 1.75 Million Families in Mortgage Stress 21:06 Housing Slump Hits Bunnings and JB Hi Fi 24:49 Why John Says Austerity Would Make Things Worse 30:06 Fantastic Furniture Shuts Its Last Australian Factory 33:44 ATO Admits It Got Credit Card Payments Wrong 37:03 Should Australia Cut Government Spending? #AustralianProperty #HousePrices #MortgageStress #RBA #InterestRates #AustralianEconomy #Recession #SmallBusiness #CEOBreakdown #LatitudeAccountants