Chris Bates
speaker
1,659 appearances
5 recordings
1 series
first heard Jun 2021
last heard Dec 2022
Chris Bates’s voice in public audio — every appearance, attributed to the second.
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Appearances
Look, I think it's probably around the risks after booms in prices that they do increase.
The chance of fall increases, the chance of a gain decreases, right?
And so we all know that how the markets have moved over the last, you know, 12, not just the last 12 months, even since, you know,
um mid 2019 really um after the election so um you've got to be careful right at the moment because people are getting more uh picky you know buyers um in terms of what they're willing to compromise on and they're not got the FOMO they had in the market last year so they're not willing to pay the same amount of money as they were last year in the height of the boom just to get in for things that are compromised okay so things that are on busy roads things that are dark got privacy issues um
things that are noisy, things that are surrounded by other houses or could have development potential, et cetera.
So things that are compromised are at high prices because of the FOMO in the market last year.
And a real danger right now is to potentially look at being opportunist and say, oh, I could get this cheaper than it was last year and not focus on quality.
Because as interest rates increase, there's two things that will happen.
People's ability to take on more debt will increase, borrowing capacities fall.
And secondly, their willingness to take on debt also decreases because they're going, I'm going to have to pay more for the mortgage.
And so they're going to become even less, more picky and less desire to take on big debts for compromised assets.
Whereas if a property ticks all the boxes, you know, it's on a great street, it's got great aspect, it's a great place to, you know, live long term.
A, there's very few of those because stocks are always really low on those properties.
And B, people are like, well, I'm willing to take on this debt even though interest rates are 3% or even though the interest rates are 4% because I need a family home and I want to live there long-term, et cetera.
So you've got to stick to quality right now, just after booms, because...
If there is a tightening or a global credit crisis or something like that, the compromised properties get smashed.
This is what we saw in the 2018 downturn is they might fall a lot more than the quality assets.
So the other question we get is at the moment is, oh, I can't buy that because that's what went up a lot last year.
So I'm not going to buy a quality asset.
I'm going to because they went up so much last year.
Showing 541–560 of 1,659 · page 28 of 83
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