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
will probably be different.
We won't see much more in the way of interest rate hikes, but there's a lot of caution.
I think until people get comfortable, although we've seen the terminal cash rate for the cycle, a lot of people sitting on the sidelines just looking for some validation, I guess, that interest rates aren't going to go too much higher.
Yeah, usually when it comes to making such a big decision, because it's not just a real estate decision, it's a life decision to buy your first place.
I think we'll see a lot of people doing it in New South Wales because the deposit hurdle has effectively come down.
Previously, you had to save not only the deposit, but
on a million-dollar purchase, another $40,000 of stamp duty.
Well, people can opt not to pay the stamp duty now.
So I think we'll see a lot of people, first-time buyers coming into the market in New South Wales because people often sort of, we're quite mimetic.
We do what our
our friends and other people in our cohort are doing.
And I think anyone with access to the bank of mum and dad will be looking to buy.
Usually it makes sense though, just to take a step back.
Buying because everyone else is, isn't necessarily the best way to go.
Usually we'd say, try and begin with the end in mind and work out, well, what's the strategy?
Do you want to buy somewhere where you realistically, they're going to be living for the next five, 10 years, say?
Or if that's not the case, would you not be better off potentially renting and maybe getting a foot on the ladder elsewhere?
So I think the number one thing is think about the strategy rather than just buying blindly because everyone else is.
Yeah.
And also, things change.
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