Australia’s housing market is cooling – but a Sydney flat with a broken shower still costs nearly $1m

‘Even with all the investors being scared off, we’re still being squeezed’: Lena and Linly outside the apartment block where they bought their first home. Photograph: Jessica Hromas/The Guardian

Lena and Linly just bought their first home at a $28,000 discount. Not one investor bid against them.

The couple, who asked that their last names not be published, were successful at the first auction they bid at, after six weeks of looking at properties.