Jul 31, 2026 – 6.57pmThat real estate agents and auctioneers are having a tough time is unlikely to elicit much sympathy from people who have spent years watching homes seemingly sell themselves. But as property market sentiment tanks and auction clearance rates follow, those in the business of buying and selling homes are feeling the pinch – and in some cases getting their elbows out to close deals.Rising mortgage interest rates and federal budget changes to property taxes, including ending negative gearing for all but new builds, have led property analysts to forecast Sydney and Melbourne’s median home prices to drop 5 to 10 per cent from their peak, though agents in some areas claim prices have already fallen further than that.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles