Metricon Homes chief executive Brad Duggan says widely repeated housing claims are keeping many would-be buyers on the sidelines despite underlying demand.
Speaking in the latest episode of Metricon’s Home Truths podcast, Duggan said hesitancy rather than a lack of demand is holding the market back.
“The commentary we’re hearing is eroding confidence and making some buyers question whether owning a home is even possible anymore,” he said.
His comments coincided with the release of the Westpac–Melbourne Institute Consumer Sentiment Index, which fell 4.7% to 80.4, with the mood dropping sharply after the Reserve Bank’s latest rate hike. Housing was a rare bright spot, with buyers’ assessments of whether it is a good time to buy a dwelling edging higher.
Duggan said confidence in Victoria had fallen to a very low level.
“We have almost lost our mojo here,” he said.
Regional Victoria is a different story. There, Duggan said, buyers are exploring their options and recognising there is still scope to secure affordable land and build a new home at a good price.
That regional optimism has some support in the data. According to realestate.com.au’s Housing Affordability Report 2026, Victoria has become Australia’s most affordable state for the first time on record, even as a median-income household nationally can afford just 12% of homes sold in the 2026 financial year.
Hosted by Samantha Riches, the episode pairs Duggan with independent property economist Cameron Kusher to test five common assumptions about the housing market.
The pair tackle claims about timing – that buyers should wait for the market to bottom, and that building new stops stacking up when established prices soften – alongside assumptions about first-home buyers, including that young Australians have given up on ownership and that parental help is essential. They also challenge the idea of a single national property market.
Kusher urged buyers to rely on evidence rather than sweeping forecasts when judging the market.
“The data tells the real story,” he said.
Duggan added: “Having the right information allows people to make better decisions regardless of where the market sits.”
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