Rich Harvey

speaker

1,863 appearances 17 recordings 1 series first heard Jan 2022 last heard Oct 2022

Rich Harvey’s voice in public audio — every appearance, attributed to the second.

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Aussie Real Estate Podcast · Property Buying Expats · 7 Jul 2022 podcast

A lot of them upgraded their homes and

But what we're seeing is that both long-term and permanent arrivals is having a significant impact on demand for property.

At the moment, the processing of migration is really slow.

So the Home Affairs Office has got to get their act together and start processing applications.

Once we really ramp back up to where we were, it's going to be significant.

So I'll

So I think the XPAC numbers will start to stabilise again, and then we'll start to see that migration figure really, really ramp up.

But we've got a problem though, Craig, and that is that some recent research by Charterkick Kramer identified that we're not building enough apartments.

Building approvals is falling.

And so we are now entering another phase of property undersupply.

We've already got a rental crisis in Australia.

Rents are jumping up to around 10% and they'll probably go a total of 10 or 15% rise this year.

And we're just not building enough properties.

And also the students that are coming in, obviously the student tap was turned off during COVID, but that's now starting to ramp back up again too.

So we've got to start building enough student accommodation and also enough accommodation for all the other expats that are going to be staying here.

Well, look, if you're trying to buy property and get your bolt hole back here in Australia, it's just too much pressure to put that requirement on your family or friends to go searching for you.

So it is really important to get professional advice.

But the key thing is don't trust the images and the photos and videos that you see from the selling agent.

The photos can be photoshopped and doctored to show a much better angle of the room, look much bigger than it really is in reality.

You need eyes and ears on the ground to go and view the property, complete the due diligence

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