Pete Wargent
speaker
553 appearances
2 recordings
1 series
first heard Oct 2022
last heard Jan 2023
Pete Wargent’s voice in public audio — every appearance, attributed to the second.
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Appearances
And then thirdly, it actually takes a bit of time for people to see that impact.
So that's why an interest rate hike today, the full impact might not be seen for 12 or 18 months.
So yes, it's a significant increase when you take a cash rate from the zero lower bound up to 2.6.
That's the fastest tightening we've seen since 1994.
Pretty much anyone under our age group and below hasn't seen that before and it can be scary.
I think you'd be surprised.
I think it's interesting that a lot of the indexes you see, they do lag a little bit.
It takes a while for properties to actually sell and then settle and then be recorded.
I think in a lot of cases, we have seen prices down 10 or 15%.
If you look in, say, Sydney northern beaches or some of the premium suburbs in Sydney's eastern suburbs, prices might well be off 15% from the highs.
But
I suppose that does come in the context of a 50% or 60% boom just in a couple of years prior.
So certainly you're saying in Noosa, prices have come off the highs a little bit.
I think the thing I've always felt about real estate because of the transaction costs involved, it works much better as a 20 or 30-year investment.
As a home buyer, it's different because it has to fit around your life plans and you might look to trade up
But if you're going to buy as an investor, you really need to be taking a 10 or 20 year view.
So in that context, you'll get interest rates going up and down through that period.
You'll probably have a recession.
You've got to expect those things because that is what happens over time.
So no, I don't think things have changed too much.
Showing 301–320 of 553 · page 16 of 28
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