Property Expert WARNS: Australian House Prices Already Down 10–15% In Some Areas

Tom Panos is telling his own daughters they have three to nine months to buy a home. Here's why. Prices in the areas he's buying in have already dropped 10 to 15%, interest rates are back to GFC levels, and he says it's going to get uglier before it gets better. He's buying anyway. Tom Panos is one of Australia's most recognised real estate coaches. He spent 21 years at News Corp, founded the Real Estate Gym, coaches some of the country's top agents, and has spent 21 years fighting cancer. In this episode, he explains: ▪ Why he's telling first home buyers "don't waste this crisis", and the three to nine month window he sees ▪ Why prices in the areas he's buying in have already dropped 10 to 15% ▪ Why, for the first time, cheaper prices don't mean homes are more affordable ▪ How today's interest rates compare to the GFC, on far higher house prices ▪ Why first home buyers are down 21% year on year, even with the 5% deposit scheme ▪ Why "it's going to get uglier before it gets better, but it's going to get better" ▪ What he told the country's top 100 agents to do while sales volumes fall Tom's advice is not to wait for things to get better. If you're buying in this market, the free guide shows the four points Dan uses to pick a property that makes money without relying on the market: https://go.bothsides.au/score Follow Tom: ◼️ Instagram - https://www.instagram.com/tom_panos/ Bothsides: ◼️ The weekly email - https://bothsides.au ◼️ Dan - https://www.instagram.com/daniel_beardall/ General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider. 0:00 Intro: Tom Panos is back 3:27 Australia is a $3 trillion company 7:20 Why they only need you at election time 9:53 First home buyers now in negative equity 16:03 Why Australians are so angry 22:17 "We haven't done that modelling" 24:46 "Don't waste this crisis": 3 to 9 months to buy 26:35 Cheaper isn't affordable: GFC-level rates 37:09 Why business owners are moving overseas 41:58 "It's a speed hump": what you can control 45:28 What Tom told the top 100 agents 52:25 Faith, family, friends: what actually matters 57:39 How Tom handles four cancers 1:04:40 Tom's message to Australians, and to the government