you could relate the auction results to a share price RSI. anything over 70% RSI is considered overbought (+70% auction result). was at over 80%s for a long while. it's currently between 48-55% and in my opinion needs to drop to 30-35% for a long period to even out. prices have gone up 70% in 5 years. that's really between $300k upwards into the millions. that kind of uplift should never happen so quickly and the market is correcting. in my opinion, looking at core logic data, this will continue at least until mid to late next year with a 15-20% drop to come. can't get out quick enough. sold and happy to rent for a few years to get ahead. why would anyone buy now when you could literally put your kids through private school waiting or you don't have kids, knock 5 years off your mortgage by buying in 18-24 months
