The Price Belief Feedback for Investors During the Bust

According to the latest tax data, there are 1.3 million Australians who own at least one negatively geared investment property. That is, they're actively submitting to lose money in a property investment. So we had price falls beginning around mid 2017 and prices started rebounding around mid 2019. There's that price belief feedback for investors during the bust. And at the same time, owner occupiers think this is a rare mid cycle opportunity.