PHOTO: John McGrath

McGrath Estate Agents founder and executive director John McGrath has said that there is “zero chance” that the market is pregnant with a further 40 per cent drop in value, as some “purported” experts are claiming.

In the 2019 McGrath Report, Mr McGrath said that the theory that there would be another 40 per cent drop in values to go was both sensational and erroneous.

“There is zero chance we will see a collapse like this,” the founder said.

“There would have to be a global economic ice age to generate this sort of slump, and then it wouldn’t matter where your cash was tied up; we’d all be in trouble.”