Jun 12, 2026 – 4.00pmWhen Jamie Durie listed his eco-friendly mansion on Sydney’s northern beaches in October last year with a $33 million price guide, the RBA’s cash rate was 3.60 per cent, most people had never heard of the Strait of Hormuz and the Albanese government was expected to maintain the status quo when it came to negative gearing and the 50 per cent CGT discount.Eight months on, the cash rate has risen to 4.35 per cent, the US has waged a fresh round of strikes on Iran, and Labor’s proposed property tax changes have spooked investors – a confluence of factors that has chilled the property market.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Bonnie CampbellLuxury property reporterBonnie Campbell is the luxury property reporter at The Australian Financial ReviewFetching latest articles