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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So hence why what we have is a lot of people with a home, one rental property, their money in super because that way you're not getting killed by the land tax.
Well, this is the spring selling season that we're just going into.
So if you're going to sell a property, typically now is about the time there's enough of a lead up between now and Christmas to have a full sale.
uh sales or auction campaign so i guess no um depending on the market obviously but it's not too late to sell i think in terms of buying i mean it really goes back to that time horizon i think you know the market's certainly down from the highs might have a bit of a bit of a way to fall from here but um i guess you know how long are you thinking of owning the property for if you're thinking
time horizon of years, then it's probably not a bad time to get in.
You've just got to factor in that mortgage rates will go up a bit from here.
Does that answer your question or questions?
Yeah, I think, yeah, usually if you're a buyer, I mean, it's actually, it's a lot easier to buy now than it would have been in October last year.
You'd have had 100 people at the open home and 50 people bidding at the auction.
But there's a strange social proof in that that people think, well, everyone else is here bidding.
It must be a good idea.
Whereas when you're the only person turning up to bid at an auction, you can negotiate well, you can buy quality assets that are
a reasonable price, but people feel very uncomfortable with that because not least because property gets a lot of media headlines these days.
Even this morning, property prices to fall 20%.
Well, they might have already come off 10.
They all tend to go back to the same two or three experts.
Yeah.
Who predicted a crash two years ago and five years ago.
Yeah, there is a bit of that.
I think it's difficult to go against the grain, certainly.
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