Commercial Property Rise
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What is the focus of this episode on commercial property?
It's the Real Estate Podcast, brought to you by ANZ Home Loans for financial well-beings.
And welcome to another episode of the Real Estate Breakfast, available on iHeartRadio every morning and also on Spotify and Apple and wherever you get your podcasts from. Thursday morning, tomorrow Friday, where's the week gone, eh? The 13th day for October for 2022. Coming up in just a moment, we're going to have a look at commercial property and why commercial property seems to be defying the real estate market. Scott O'Neill, fresh back from Greece, is here from Rethink Investing, and he's going to be talking all of that through. Well, last week we were talking about the affordability report that was released by Demographia International and just how bad the housing affordability in Australia is, which is amongst the worst in the world, with Sydney ranked the second least affordable city.
Not a flattering look. Melbourne, Adelaide, Brisbane and Perth, they're not far behind for affordability. And the numbers get a little bit worse when you look at the latest census data, which tells us that 67% of Australians own their home in 2021. And for people between the ages of 30 to 34, the numbers are getting worse with just 50% of people owning their home in 2021. Now, if you compare that back from 1971, it was much better, right? with 64% in that age bracket owning their home. So the Aussie dream of home ownership is getting more and more difficult. We know that, but that's not to say give up.
How does commercial property defy current market trends?
Keep striving, keep saving, and guts it out. You'll get there in the end. Stats can be for somebody else, but not you.
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What insights does Scott O'Neill provide about the commercial property market?
Well, what is happening with the commercial property space? It's been a few weeks since we checked in and took the pulse on this. We know that there's a lot of trading that is going on. How is the market going in October? Well, let's find out with Scott O'Neill from Rethink Investing. And good morning, Scott. Welcome back to the Real Estate Podcast. G'day, Craig. Good to be back. You are back in the office today in Sydney there. Nice little breakaway in Greece, feeling re-energised?
Yeah, back to reality. It was a good three and a half months off, but it was a working holiday. Still do the mornings over there in Greek time, but good to be back. It's pretty rubbish weather though in Sydney, so adjusting, that's for sure.
Which asset classes are performing well in commercial property?
Yeah, well, it's not as if you've got a long, long way to go before your next break. I mean, this is quite cunning, isn't it? Arriving back in October, a few more months and you're off again.
Yeah, it's a good time to lock some stuff in and get some good deals if they're out there.
Now, we're going to check in on the commercial property space in just a moment. But before we get there, I wanted to ask you what the general feel was when you were in Greece regarding this whole Ukraine war.
Look, interestingly, they didn't. It is in the background, but like there's more talk of things like the energy crisis coming out of Germany and that because there's a lot of German tourists that come into Greece.
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Chapters
8 chapters
1
What is the focus of this episode on commercial property?
0:02–1:56
2
How does commercial property defy current market trends?
1:56–3:18
3
What insights does Scott O'Neill provide about the commercial property market?
3:18–4:03
4
Which asset classes are performing well in commercial property?
4:03–5:17
5
What factors contribute to the current demand for commercial properties?
5:17–6:19
6
How has the pandemic influenced office space demand?
6:19–7:21
7
What advice does Scott O'Neill give to potential investors?
7:21–8:23
8
Why is now a good time to invest in commercial property?
8:23–11:29
Speakers
3 identifiedMore from Aussie Real Estate Podcast
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