For years, the Australian property market has felt completely untouchable. No matter what happened to the economy, house prices just kept climbing—until now. With auction clearance rates plummeting to their worst levels since the pandemic and prices in Sydney and Melbourne already sliding, top economic minds are warning that the great Aussie property boom is officially slamming on the brakes.

Brent sits down with HSBC Chief Economist Paul Bloxham to unpack a radical shift in the housing market. Paul breaks down his rogue forecast predicting a sharp 3 to 6% drop in property values next year, driven by consecutive RBA interest rate hikes and a brutal federal budget hammer that has completely overhauled negative gearing and capital gains tax rules for investors.

Hit play to find out if your property value is at risk, why global uncertainty is hitting local suburbs, and why this sudden downturn might actually be the ultimate silver lining for first-home buyers.