Current Market Insights
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Understanding the property market can be a challenging thing, with highs and lows, twists and turns. The media and agents tend to spread the news they want you to hear, with the advice they want you to follow.
Current Market Insights is an unbiased look into what is happening, what tips you can use to buy, sell, or rent, and that you wont find anywhere else.
Current Market Insights
Episode 95: Spring Stock Surge – Auctions, Rentals & Economic Headwinds
Hosts Ciaran O'Brien and Peter O'Malley break down Sydney’s spring property market as a surge of new listings puts pressure on clearance rates. With 1,115 auctions scheduled in a single week and clearance rates slipping to 51%, many vendors are choosing to sell prior rather than risk auction day.
We also discuss:
- Growing employment concerns with job losses in banking and the rise of AI/offshore outsourcing
- The looming stagflation threat as unemployment and inflation risk moving in opposite directions
- Sydney rental vacancy rates tightening to 1.4% (down from 1.6% last year) despite earlier “crisis” warnings
- Annual Sydney rental price growth at 4.2%, double the 2.1% inflation rate
- Even stronger rental growth in other cities: Hobart (10.6%), Darwin (8.9%), Brisbane (7.3%)
- NSW government’s Parramatta Road redevelopment plans — 3,000 new homes from Camperdown to Leichhardt
- Infrastructure bottlenecks raising doubts about realistic housing supply increases
- First home buyer incentives (commencing October 1st) influencing some buyers to delay purchases
As always if there is a specific topic you would like for us to cover, please reach out and let us know!
All down, all silent, going, going, going, gone. So congratulations.
Speaker 2:Welcome to the Current Market Insights podcast brought to you by Harris Partners Real Estate. Each episode we chat with real estate author and industry leader, peter O'Malley, to discuss the current property market conditions and provide insights to assist you on your property journey.
Speaker 3:Hello and welcome to another edition of Current Market Insights. I'm your host, kieran O'Brien, and with me is Mr Peter O'Malley. Peter Kieran, great to see you, great to see you, buddy. I just want to jump in today and kick off. We'd love to do an episode that just focuses on the market in Sydney. We've now entered spring officially, so I thought we would be a really good opportunity just to talk about how, last time we spoke, we gave a sense of what was happening in the market, but now we've had a little bit of time to get a feel for the buyers, get a feel for those vendors coming to market. So, if you can, why don't you take our listeners through what the Sydney market's looking like at the moment and do you feel there's been a dynamic shift at all in the last few weeks or so since spring really started in earnest?
Speaker 1:Thanks, Kieran, look, it's fair to say that the Sydney market is dealing with a deluge of stock, as happens in spring, yep. So the auction clearance rate, as our listeners would know from previous weeks, was sort of in the mid-50s, heading towards 60, suggestive of a really strong environment for vendors. The auction clearance rate last week, on SQM researchers' numbers, was 51%. So we have seen a pullback there and that has pulled back on the back of an increase in stock levels with 1,115 properties up for auction, which is a bit of a sharp jump on the norm, yep. So there's no doubt that the market is struggling to absorb extra stock levels.
Speaker 1:At the moment it's still above 50%. So that's a good story in and of its own right. So that's a good story in and of its own right. I think the next most interesting stat is that of the successful auction campaigns, 310 sold prior, meaning that the owners were more than happy to grab the money and run, and 263 sold under the hammer. So there's a very, very clear breakout where most weeks that's at a 50-50, those two numbers, as you know, it breaks 50-50. But there's a very clear preference last week of the successful sales to grab the money before auction day.
Speaker 3:Do you think that some of that reduction in the clearance rate is related to just the idea that people list in spring as a reflex, almost, as opposed to necessarily having those more desirable properties that may benefit from a sale period? Or you know, I just get the sense that the spring market and maybe the post-Australia Day market, people just list because that's the time to do it, so there's possibly a deluge of less or lesser desirable property coming to market. Would that be reasonable?
Speaker 1:Look. No, I wouldn't say so. I wouldn't say it comes back to the quality of the property. The listing numbers are up. Therefore the clearance rate is is is down by a few percentage points happens every year in spring. We, we spend all year saying to people don't, don't fall into the trap of thinking, you know, spring is this boom time where it'll go crazy. Yes, we know your garden look better, we know your house presents better in spring, but the problem is, so does everyone else's, and if everyone comes to the market at the same time, suddenly you've got the same amount of buyers dealing with a much broader base of supply. And that's what we're seeing at the moment.
Speaker 3:So if the market is operating in a healthy way, would you expect that that clearance rate will just creep up over the coming weeks as the market adjusts to the extra stock on hand.
Speaker 1:Well, look, when we last caught up, we did say that we felt that stock levels were being held back artificially by the weather pattern, in Sydney specifically, and that the true spring market will start probably a month later. This year it's normally in full, you know raw, by mid-September, but it's looking like it'll be post-October long weekend now when you do see the big surge in listing numbers and that's driven by the fact that people were getting their properties ready for market through July, august and couldn't catch a break with the weather. So you know, we need to counter that with the fact that there was, you know, a lot of highly publicised job losses, mass job losses in the banking sector last week. Um, that would have rubbed on, but you know, by a sentiment a bit.
Speaker 1:Um, increasingly we're hearing um through channels that companies are looking to outsource jobs to ai and offshoring and um, that's uh, you know we've got some big employment data coming through, whether it shows up in the next you know employment reading or the one after, but that is something that we're also seeing out. There is that, um, lots of um, you know people are, you know, being spoken to about redundancy. So, both in my social network and professional network. Um, there there is uh, you know there's not the buoyant jobs environment that it has been.
Speaker 3:It's interesting. You mentioned jobs and we won't spend any real time on it today, but obviously the job figures are due to release tomorrow and they're a major factor of what may dictate or put pressure on the RBA to make their next rates decision, which is at the end of this month. Just based on what you've said, and based on your observations, conversations and your kind of read, what do you think the figures are likely to look like? Do you think that we're going to see an increase in unemployment? Do you think we're going to see it remain stable or drop? Do you know? You mentioned the the bank sector's cutting a lot. Could that potentially, you know, pave the way for other major banks or major corporations to do the same thing? I mean, are we entering a bit of a cycle now where the economic environment gets slightly tougher again, whilst the economy itself is actually performing pretty well?
Speaker 1:Yeah, look, I don't pretend to know what the next employment number is, because I don't know how it's calculated, whether these job losses that we've been hearing about in the last two weeks are captured in this reporting period or it's the one after. I do suspect that you might see some upward pressure on the unemployment rate in the next six to 12 months, because there's no doubt that corporations I won't just blame the banks, even though that's fun and easy to do- Please don't but there's no doubt that corporations um who are struggling to grow their top line revenue, um to to grow their profits, are seeing that they have to cut costs yeah
Speaker 1:and and the easiest way for a corporation to cut costs at the moment is to outsource, outsource offshore jobs, outsource to ai or send the job offshore, and that's what's happening and that's why we're feeling it in the employment market here. So you know just a couple of um. A couple of weeks ago, I asked one of the property managers in the company how's your day going? She said I'm not real well. And um, I said why? What's going on? And? And she just said straight out look, I just feels like everyone I ring at the moment's being made redundant. And then I've got to put a whole plan of action in place around that because the ability to complete their lease is not quite there. So we've got to go back to the landlords and renegotiate terms and an early exit and penalty free, and they've lost their job. Would you be gracious enough to let them find a new tenant without stinging them a penalty and all of that?
Speaker 1:So hopefully this is just a short-term blip and some of these corporations are just cleaning up. Um, you know some um, you know rough edges, if you like, in in in the end of the year. Uh, close, um, but we are seeing it more and more, there's no doubt. So I don't know if that plays a role in the auction clearance rate. Pulling back is the primary point, kieran, but um there, but there is some pressure out there.
Speaker 3:Oh look, definitely I wasn't actually going to talk about this, but I read an article and you haven't. So I'm not going to ask you specifics or to my knowledge you haven't but I only read something earlier that in Toowoomba, for example, there's something like 75% of households are now officially under mortgage stress and most of those are now missing mortgage repayments. Now, obviously that's one microcosm across the country, but in a period where the economy feels like rates are coming down, psychologically it feels like we're probably on the improve we do have these places where people are being made redundant, where there are certain sectors and industries that job security may not be guaranteed and we could very well see some mortgage stress creeping back. You know significant mortgage stress keeping creeping back into the property market, as you say, at a time where stocks coming on and we've got all these promises of government incentive. You know there's so much going on that sounds positive, but in fact that's really not necessarily what's happening on the ground.
Speaker 1:Yeah. So look, I guess what you're touching on there and I know before we started recording today, the big number you're looking to see drop is the Australian unemployment rate, which is great, yeah. But another big number that will drop by the time the audience is listening to this podcast is what does the US do overnight with their interest rates? And it is actually related to what you've just explained there in Toowoomba, because in America what they've got at the moment is an inflation rate that's going up. That suggests you shouldn't cut rates, but it's almost universally agreed that the US will cut their interest rates.
Speaker 3:The Federal Reserve will cut overnight and deliver the market a 0.25% rate cut and I think for reference they're still at 4.5, I think cash rate they're quite high cut and I think, for reference they're they're still at 4.5, I think, cash rate.
Speaker 1:They're quite high. Um, I'm pretty sure I'm not. I'm not, I'm not. I don't pretend to know where their cash rates at, but what's happened is that we've often spoken about and we've asked people that are smarter than you and I on this what happens when a central bank has to choose between jobs or inflation. Yeah, because they say, our job is a dual mandate between the Federal Reserve and the RBA. For that matter, we have a dual mandate it's to manage price stability and employment. But what about when they're at odds, which is where we're headed to now, which is You're talking about the stagflation.
Speaker 1:Stagflation. Well done, exactly right. We're heading towards this stagflation environment where unemployment is creeping up, but so is inflation. So if you cut rates to get the jobs going, you send inflation higher, and this is why you've got gold. That's running. You know, we, we spoke, you know, two weeks ago, about the gold price and how strong it was. Well, I can tell you it's only gone one way since it's just gone straight up. Yeah, um, it's because the us federal reserve is threatening to be pressured by trump and cut rates at a time that inflation's going up. Now that will fuel inflation further and that inflation will find its way to australia. And then the rba will have the same dilemma that the us federal reserve have got now, which is do we cut rates to keep people employed but fuel inflation again, or do we keep rates on hold, fighting inflation but driving our unemployment rate up?
Speaker 3:Yeah, it's a tough decision, right? I mean, the only advantage we have potentially is, I think the current inflation rate in Australia is 2.1. So the RBA has a little bit of room, but obviously not a huge amount of room, and they've got to be careful. But we have mentioned stagflation so many times over the past few months and it is interesting to see it play out maybe slower than expected, but it is certainly all. The dominoes are moving into place for this event to occur and and potentially cause a catastrophe, absolutely.
Speaker 1:And if people are wondering why stagflation is so bad because we're always told that deflation is bad and inflation you know, strong inflation is bad well, um, the thing about um, deflation is the uh. Antidote is obvious. You cut interest rates to stimulate spending and bring confidence in. As we have seen in the last four years, controlling inflation is easy. You put interest rates up to take the excess economy, excess confidence, out of the economy.
Speaker 2:Yeah.
Speaker 1:But stagflation, where you've got jobs and inflation going in different directions, meaning that they need different solutions, but you've only got one lever to pull. That's a horrible scenario that no central bank or government wants to find itself in and, as you said, in America and in Australia and other developed economies, that is the next phase of this battle.
Speaker 3:Yeah, it's an interesting time ahead. And before we move on then to talk a little bit about the rental market, just one question about um. Going back to your uh, your take on the sales market at the moment have you, have you found buyer sentiment on the ground over the last couple of weeks, so since spring has started? I I often found myself when I was talking to buyers in years gone by around spring there was always this kind of renewed energy that there'd be all this amazing new stock for them to look at. It was a almost like a sense of boy. You know they're being buoyed forward and there's a confidence that comes with that. Have you found that this year there is the same sentiment or is there still just a little bit of hesitancy on the buyer front, waiting around a little bit, because I feel like that's the message out there but I'm not obviously on the ground seeing it.
Speaker 1:Yeah, look, anyone that's got a stable housing arrangement is kind of just happy to let that ride at the moment.
Speaker 1:Yeah, so what we're seeing is the people that are acting in the marketplace have a need to purchase, whether they're a new entrant into the city, whether they're sold and they need to buy, whether they're a tenant who's been moved out of their property and decided now's the time to buy. We're seeing the people who are doing the buying is they've got a definitive need. There's not a whole heap of discretionary or speculative buying, if that makes sense. Now, where that becomes tricky as an estate agent is that activity levels are very high. So we've got more people coming through inspections, partly because of the weather, partly because people are always interested in quality real estate coming to market. So inspection numbers, inquiry levels are high, um, but people are, you know, on the whole walking in and out of open houses without much purpose. As an estate agent, you need that discernment and experience to spot the person who's not here just to have a little sticky beak, but the person that's here to perform.
Speaker 3:Yeah, so yeah, it makes sense. I mean, there's always a bit more optimism from people in the warmer months and I think, particularly as we approach October, with the government's big incentives coming in, there are going to be a lot more floaters until they're ready.
Speaker 1:We are seeing, on that point, the first homebuyers incentives that kick in on October 1. We are seeing more and more, or hearing more and more, people use that as a reference point. That'll help my son, that'll help my nephew, that'll help us get into the property market. That's a big point for us.
Speaker 3:So we do feel Until October 1 hits and prices jump 10%. To factor that in.
Speaker 1:Well, I think it'll be a little bit more gradual and I think it will heat up the bottom end of the market. It won't be like a straight out cash incentive that here's $10,000 incentive if you buy a house, so the market goes up $30,000. I don't think what this incentive is will do that, but at the end of the day, as we've previously discussed, the incentive will ultimately cause the market to push up at a higher rate than the incentive on offer meaning that the incentives the governments are putting in place is not really a first home buyer incentive.
Speaker 1:It's a vendor reward because they want developers to have the confidence to build and know that there's a ready-made market at the other end looking to buy the product from them.
Speaker 3:Yeah, look as we move forward. Peter, you mentioned that one of the segments in the market you've seen at the moment is tenants looking to buy who may have been shuffled out of a property. We haven't actually had a good chat about the rental market in Sydney for a little while and I know there's been some national vacancy data coming out. So I thought if you could maybe take our listeners through what's actually happening in the rental space and how does it compare with you know, the year gone by, for example?
Speaker 1:Yeah, okay, so these are the August vacancy rates from SQM Research and they show that, uh, in august 2024, the vacancy rate in sydney which, keeping in mind 12 months ago, kieran, um, it was widely accepted that we were in a rental crisis- is that a fair yeah, fair point. So this time, 12 months ago, um, the vacancy rate was 1.6 percent. Um fast forward to august 2025 and the numbers have come in at 1.4 percent.
Speaker 3:So that tells you that. So that's, we were ina crisis because we didn't have enough rentals. That was one of the the arms, and now we're at a lower vacancy rate. Yet it's not even talked about at the moment. Yeah, that's right.
Speaker 1:Yeah, yeah so call it a bit over 10 percent. What's that? 12 and a half percent, yeah, um less properties on the market at the moment, um than than than what? What there was this time 12 months ago, at a time where the population is significantly higher. So what's the adjunct of that? Well, prices go up. Prices go up.
Speaker 3:So are you noticing, then, through your agency, through your team, are you noticing? You know we often talk about numbers at rental opens and how? You know, obviously they somewhat fluctuate around seasonality and university schedules and all those kinds of things in Sydney, but have you guys noticed a kind of concurrent shift in the numbers of people coming to opens trying to get a rental?
Speaker 1:Well, I think we discussed this during winter. What we saw during winter, for example, um, we were experienced higher highs and higher lows. What I mean by that is that, um, properties are continuing to get record prices for rent but when we had a seasonal dip, a low period being winter, yeah, we, we felt, we felt that seasonally, but even still it was still higher than what it was the previous winter and winter's gone by. So higher highs and higher lows is how you describe the trend in the rental market at the moment. We are seeing tenants prepared to pay more rent on renegotiations. They readily accept when you put a rental increase to them that the rent is going up and they make no mistake, as they should.
Speaker 1:Tenants will go on domain and cross-reference the broader market with the proposed rental increase that the agent's given them and, on the whole, if tenants can find better value in the open market than with their existing landlord, they will move. They will say I'll decline the rental increase and I found something else and I'm and I'm moving on. But we're finding we're not encouraging our landlords to overdo it on rental increases and create vacancy on themselves. We're moving rents in line with the market and and tenants are prepared to pay that because they know there's no real escape at the moment. And this comes to this point that we are not. You know, I won't even say we're not building enough, we're not building anything.
Speaker 2:Yeah, yeah.
Speaker 3:I always make the joke about the like seven 3D printed homes or something that was announced. I haven't seen anything else other than just words, right?
Speaker 1:Correct, that's exactly right. So we're not building anything, but you can just feel it by the week, more and more people pouring into the country and the government seemed to think they have a mandate to do this, so it will continue. So to give people. I've given you my personal opinion and read on the market from the view that we have. Sqm Research, to use broad data, said that they have experienced a price increase for the month of August of 0.5% in the rental market and on a year-on-year basis it's up 4.2%. You said earlier that the inflation rate's down to 2.1%, which it is, but rents have gone up 4.2%, so that's a clean doubling of the rental growth.
Speaker 3:As to inflation, yeah, yeah, which is really interesting because, again, you know, for people that have been following the market in Sydney for any period of time, we had massive increases. For COVID there was some very subtle correction, but it's still really just increasing from those highs. We're not, you know, the rental market's not going back. There's no more supply. There's still more people coming in. There's always, you know, there's all these arms that are competing, yeah, but it's actually a really perfect segue, I think, into the last bit I wanted to talk about in today's episode, which relates to your friends in the New South Wales Labor Party, particularly the Premier, chris Means, and he's announced we talked recently about his announcement to completely transform Woollahra and revitalise the unfinished train station, build 10,000 homes, et cetera, et cetera, and make it a hub.
Speaker 3:He's come out this week and said that he wants to. Well, he has, or he's going to, greenlight 3,000 homes, or let's just say, residences, along the Parramatta Road corridor from Camperdown through to the Tavernous Hill end of Leichhardt. Given that, you know outwardly, the government is trying to address the supply issue, whether they're supplying or not. That's not the discussion. I want to get your take on what you think of this proposal. How do you think it compares to Willara in terms of location and utility, and do you think that this is the kind of messaging that is being well received by people you talk to who are actively looking for property?
Speaker 1:Yeah, thanks, kieran. Look, I'll address that. I'll just go back to one point, though, about price growth, because there's some other interesting numbers here. I just wanted to go on if you didn't mind sure. So, as we've just said, price rental, price growth in sydney's 4.2 percent, which is double the inflation rate yeah yep.
Speaker 1:So just grab, grab hold of some of these numbers. In brisbane, rental price growth in brisbane for year on year is 7.3 percent wow. So what are we talking there? You know, nearly four times, three and a half times, the inflation rate, darwin. The price growth year on year is 8.9%. So we're talking four and a half times.
Speaker 2:That's quite a bit.
Speaker 1:Yeah yeah, hobart rental price growth is 10.6%.
Speaker 3:Yeah, that's wild.
Speaker 1:Now, rents are a major component of the CPI basket. That comes to determine the inflation rate. So, just to round that out, adelaide's at 2.4%, that's flat. Canberra's at 1.2% annual price growth, which is below inflation, and Perth is at five point six percent um, which is, you know, well above the inflation rate as well.
Speaker 1:So if the governments continue to push people um into australia and into these major cities before they do the developments that you've just started, the sort of developments that you've just asked about on Parramatta Road, inflation will have upward pressure on it, not just because of rents, but in part because of rents, and then we're going to get another inflationary outbreak. Yeah, there's no doubt. Yeah, so in regards to Parramatta Road, it's a logical place. Parramatta Road has been an eyesore for a long time. It's not logical place. Parramatta Road has been an eyesore for a long time. It's not the first time. This is, you know, directly related to a lot of the people that listen to our podcast, because it's here in the inner west. The thing about Parramatta Road camper down. When they put apartments up and down there, it felt like about 20 years ago 2004,.
Speaker 1:I think yeah, they developed those. Aside from the fact that a lot of them were unfortunately shoddy builds and I don't say that at the time, but that's how it's transpired they're pretty disappointing builds and have not performed well over those 20 years, which is a warning for anyone that's rushing out to buy one of these apartments. How will this apartment look in 20 years' time? But it was the right location to put those because it was close to the hospital, it was close to sydney cbd, buses running up paramatta road, close to the universities, etc. So in terms of localities, paramatta road is a is a good locality to do that. Leichhardt the precinct that they've drawn on the map here, that they have scheduled in Leichhardt to do this it's probably not quite as appealing as the Camperdown section because it's not as close to the CBD, it's not as well supported by immediate infrastructure. Like I don't think too many university students want to live in Leichhardt and walk up Parramatta Road to university in Camperdown.
Speaker 3:yeah, no, no and look, they would jump on the bus. But even you know this is at a time where bus services are consistently being cut back in Sydney.
Speaker 1:At a time that traffic's tripled.
Speaker 3:Exactly, I drive Parramatta Road many mornings it's horrible.
Speaker 1:We were in Bali at Christmas and we said to the cab driver hey, mate, we'll fix you up here. Thanks, we're just going to two kilometres up the road and we turned around. The cab driver was driving next to us, and that's what Parramatta Road's turning into. Is that, yeah, you can say I'll get on the bus. The bus is going nowhere either. You're better off, it's quicker to walk.
Speaker 3:Oh, it is because you know partially and there's a whole other bug there. But you know, drivers don't respect the bus lanes but it is at a time where they're cutting. I think the location makes sense, but I also think they've made some pretty weird infrastructure in terms of public transport decisions in that corridor. Considering it's a major arterial road, it's still very poorly facilitated, I think, and there's so many choke points that just mean that. You know, I come in from Homebush Most days I drive down Parramatta Road and the bottleneck starts well and truly before you get anywhere near Lycan and it continues all the way through to Central station. It's a horrible drive yeah, yeah, totally.
Speaker 1:So if we go to um the quote by darcy burn, this is out of the herald, is it, kieran?
Speaker 1:I think this one's off the guardian actually, but yeah, similar story so the inner west mayor, darcy burn, said our inner west community wants to see more desperately needed homes delivered and local people are telling us that the Parramatta Road corridor is the right location for higher residential densities.
Speaker 1:By partnering with the government to build more homes on Parramatta Road, we can give more of our young people and essential workers a place to live in the inner west and make sure that increased density is distributed fairly across our whole community. Well, the people that I speak to much must be different to the people that darcy speaks to want to see lower immigration numbers. They don't want to see paramount road turned into a construction site, building more apartments for more people coming into the country and clogging up paramount road further over the next five years. So there will come a point where people absolutely have no tolerance for this plan. And again, we've said it before, I just don't know where state, federal, local government thought they had a mandate to flood Sydney with such high immigration numbers, have the place a choking point and then say now we're going to start building high-density property on top of high-density properties.
Speaker 3:Yeah, it's interesting. I mean Parramatta Road, particularly around Camperdown, has been a construction site on and off for the last decade anyway, given it was so heavily integrated into the WestConnex project. I mean there's been sections there that literally were under construction for most of the years I lived there and then when we moved even. But I wonder too I was reading it might have been yesterday or this morning about the tunnel boring machine that's just cut through the final bit of tunnel to connect Westmead to the Metro, which you know outstanding service, the Metro I have nothing but praise for. Westmead is probably, if not going to be, sydney's biggest hospital in the next few years. I mean, it's a perfect location. But they finished cutting through the tunnel yesterday, let's say, and the article suggested that the station won't open until the earliest 2032.
Speaker 3:Now it's 2025 right now. That's seven years away. I have to wonder, even with this announcement of Parramatta Road's great precinct and all these houses, if it takes them seven years from cutting a tunnel to opening a station. I wonder what hope in Buckley's they have of delivering any apartments on Parramatta Road before most of the people that have moved here are forced to go anyway. Look, my point is they might deliver apartments on Parramatta Road before most of the people that have moved here are forced to go anyway.
Speaker 1:Oh look, my point is they might deliver apartments on Parramatta Road, but they're not going to go to the young people of the inner west if they keep the immigration policy at what it is.
Speaker 3:Well, I said this about Ballara. I just don't see how anyone can afford them anyway Just because they're, you know, new and affordable under the Premier's kind of mandate. You know, inverted commas. It's such a highly popular and like preferred location to live that I just don't see why people that are already established who want to be a little bit closer, won't snap these up anyway, like it doesn't. Anyway. It doesn't seem like a good solution to me, but that's just, you know me venting.
Speaker 1:Who's your team playing this week in the footy? We don't talk about that, Peter. Okay.
Speaker 3:We don't talk about it.
Speaker 1:I take it you don't have a team running around this weekend?
Speaker 3:Look, the Bunnies aren't going to run around this week. They're not going to run around. I did see, for anyone who follows, jai Gray got the kind of, you know, south's Players' Player Award, which I think is an outstanding recognition. Yeah, yeah, yeah, look, I don't know. I actually think the finals are going to be super interesting. This year We've had, I reckon, four phases of dominance throughout the season. There's been, you know, the Bulldogs were really strong. We had a period where you could say the Broncos were on track, and then the Raiders were on track, and then Penrith looked strong, and now they all just keep stumbling at little blocks. I and now they all just keep stumbling at little blocks. I don't know. It's going to be a great finish.
Speaker 1:Well, let's just say that karma has bitten the dogs. Karma for stealing the Tigers' best player. That was a very dirty play and I couldn't be happy to see the way that's unfolding.
Speaker 3:I don't know who that is, mate, because it can't be Lockie Galvin. He's dreadful. On that note, let's wrap up for today, peter. Really great discussion, actually Some important topics, but as always, I really appreciate you taking the time. Thanks, kieran, and thanks to everyone for listening to Current Market Insights. We look forward to speaking with you next time.
Speaker 2:Thanks for joining us on the Current Market Insights podcast Brought to you by Harris Partners Real Estate, the podcast providing real estate insights you won't find anywhere else.
