Commercial Property Investing Now
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It's the Real Estate Podcast across every state, city and town of Australia. And welcome to another episode of the Real Estate Podcast available on iHeartRadio every morning and on Spotify and Apple and wherever you get your podcasts from. It's a Thursday morning. Yes, the first of the month. Yay for September. Love September. The seasons are a-changing. Got to be good. We can get out more, exercise more, eat less of that winter food, trim down for summer. Hallelujah. 1st of September for 2022. Coming up this morning, we are talking commercial property with Scott O'Neill. He's the resident expert, especially on what is happening around the residential versus the commercial properties. And if you are online,
eyeing some commercial properties at the moment, thinking about entering this space. Scott is going to share what is going on. Well, the last 12 months, as far as rents are concerned, have seen rent prices nationally growing by 7%. It's a pretty serious sort of a situation, putting a lot of strain and stress on people trying to keep a roof over their heads. But PropTrack yesterday said over the last two decades, the homeless in Australia has changed little. And this is a sobering statistic. Around one in every 200 Australians... are homeless. And as a country, we have got to be doing a whole lot better than that. Now, if you're celebrating your birthday today on a brighter note for the 1st of September, have a great Thursday.
You share it with Gloria Estefan, the Cuban-American singer. My goodness, she is, can you believe it? She's turning 65. And also on this day from the history books, from 1985, the wreck of the Titanic is found in the North Atlantic Ocean. A French-American expedition group found the wreck, which sunk on the 14th of April, 1912. And a few years later, James Cameron came up with a money-making venture. Let's make a movie about the Titanic. Grab your coffee and switch on your real estate breakfast every weekday morning from 6.30. It's the main centre forecast with propertybuyer.com.au. All right, let's check on your weather around Australia. First, we go to Sydney. Good morning to you for the 1st of September.
Expecting a possible shower or two today and a high of 21 degrees. Melbourne expecting some late showers, 17 is your forecast high. In Brisbane, should be mainly fine, partly cloudy and a high of 23.
What is the current state of the commercial property market?
And in Perth, expecting a warm, sunny day and your high expecting 24 degrees. From first home buyers to property investors and everything in between, every morning on The Real Estate Podcast. Let's Talk Commercial, a podcast series with Scott O'Neill. All right. Yes, it is that time to catch up with Scott from Rethink Investing. And I guess we're a little bit jealous of you there, Scott, because you are still in Greece. Tell us a little bit about what's happening over there.
Yeah, we've been here for about two and a half months. So we're back in, my wife and I and child are back in mid, sorry, October rather. And yeah, we've sort of got a house here. And before COVID, this is something we did every year. We just made sure we sort of escaped the Sydney winter and been really good. So weather's good and yeah, but looking forward to getting back into it. Puts the fire in the belly to full-time business thing when we get back in October.
And what about the economy in Greece? And together with the pandemic itself, is there anything that's sort of quite different to Australia?
Yeah, believe it or not, I've never seen Greece so strong at the moment. In terms of the islands where a lot of the wealth is created through tourist dollar, they've got their busiest season that of all time right now. Talking to people that sort of own hotels and that over here, they're saying next year is going to be even bigger by about sort of 20% larger. So like I've even noticed it on the ground in Greece, like there's people who got newer cars all of a sudden, there's prices of property over here are going up. So this is coming off like a very low base though. Like the GFC totaled the economy over here.
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Chapters
3 chaptersSpeakers
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