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‘Worst in 30 years’: Housing panic is infecting the economy. Just ask Myer
More bad news from the property market is seeping into the broader economy, as shown by Myer’s recent trading performance. The RBA is stuck between a rock and a hard place.
We should always treat anecdotal evidence with a grain of salt, especially when the person delivering it is a self-described real estate influencer whose business relies on grabbing attention.
Nonetheless, there is something about the video posted on social media on Saturday evening by auctioneer and real estate industry trainer Tom Panos that captures the sense of panic that’s building in Australia’s property sector, in which he claims the environment is the worst he’s seen in 30 years.
Real estate agent sounds property alarm after ‘worst auction day in 30 years’
A prominent real estate agent has warned Aussies will continue to stay away from auctions even as property prices fall, saying he experienced his ‘worst auction day’ in his career last weekend.
Tom Panos, based in Sydney, took to social media to express his shock that not only did he fail to sell all six of the houses he had up for auction on Saturday, but that there were no bidders who registered.
Auctioneer Tom Panos said it was the worst single day he had experienced in 30 years of real estate. Instagram
“It’s very, very rare to go out there and sell no properties out of the list,” he told Today.
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