Did Sydney's Market Just Crash?

In this episode, we sit down with Belinda the valuer and Jack Harris from Fox Auctions to discuss what's actually happening at the auction block, how valuers are adjusting their numbers in real time, and what the May 12 budget really means for buyers and investors.We get into why vendor reserves are being slashed by $200,000 on the day, how the herd mentality is keeping buyers frozen on the sideline, and why the people waiting for the bottom will almost certainly miss it.The big question at the end: if you're a first-home buyer sitting on the fence right now do you wait, or do you go?https://www.foxauctions.com.au/https://addvaluer.com/🏠 This podcast is brought to you by Coposit, where $10k means you can buy a brand-new home. To learn more about how it works and browse properties, visit: www.coposit.com.au00:00:00 - Shift in Auction Clearance Rates00:00:15 - Buyer Activity and Market Confidence00:00:26 - Advice for First-Time Buyers00:01:14 - Buyer's Market Perspective00:01:33 - Impact of Global Events on Market00:02:12 - Auction Duration00:04:05 - Market Trends and Vendor Expectations00:05:28 - Shift from Auctions to Private Treaties00:05:59 - Importance of Auction Deadlines00:06:32 - Market Confidence and Stock Availability00:07:34 - Opportunities for Buyers00:07:52 - Market Dynamics00:08:10 - Valuation Perspective00:10:07 - Valuation Challenges00:13:15 - Market Predictions00:16:07 - Impact of Budget Changes on Market00:19:06 - Market Predictions and Uncertainty00:25:48 - Potential Market Strategies for Investors00:30:24 - Auction Dynamics in Different Regions00:31:42 - Changes in Real Estate Regulations and Compliance00:37:43 - Role of Independent Valuers in Property Pricing00:40:40 - Advice for First-Time Buyers in Current Market