Commercial Property Update
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What is the main topic discussed in this episode?
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 Podcast, available on iHeartRadio every morning and also on Spotify and Apple and wherever you get your podcasts from. Well, it's another Thursday morning back with us, the 22nd day for September of 2022. The weekend is going to be here before we know it. And coming up, we're talking to Scott O'Neill with our focus on the commercial property sector and the difference right now between commercial property and residential.
What is the focus of the episode on commercial property?
We'll also be looking at some of the areas that Scott is preferring to buy into because of the yield return attraction factor. And from Domain this morning, houses are taking longer to sell in every capital city in Australia except for Adelaide, with the average number of days on market for properties stretching up to 29 additional days. But while that's a byproduct of the market's steady slowdown, sales period for Adelaide is still far shorter than the time it took to sell a property in Adelaide before the pandemic. And that's the barometer, isn't it? We always have to come back to pre-pandemic to remind ourselves and I guess to adjust our expectations of where the true reality sits in the equation of days on market.
It's your weekday real estate breakfast with news, interviews and predictions every morning on The Real Estate Podcast. Billy Piper, she is on the birthday calls. She is turning 39, not too far away from 40 for Billy Piper. And Andrea Bocelli is on the birthday calls. He's turning 63. Well, it was a fairly big day on this day back in 1994. Friends debuts on NBC television. I have to say, I have never watched an episode on this day. Also in 1975, the assassination attempt on US President Gerald Ford is foiled. And on this day in 1980, bit of an infamous day, the Iran-Iraq war begins with Iraq invading Iran. Sounds a little bit familiar in 2022, doesn't it? It's your real estate podcast for breakfast. It's the main centre forecast with PRD, selling smarter every day.
And a bit of a mixed bag around the country as we look at weather for our Thursday. In Sydney, grab the raincoat expecting some rain and a high of 20 degrees. A different story for Melbourne this morning, expecting a mostly fine and sunny one, a high of 20 degrees. In Brisbane, showers with a possible storm, 23 is your forecast high.
How does commercial property differ from residential property?
And in Perth, expecting a partly cloudy Thursday and 19 degrees. We are just as addicted to property as you are. Let's Talk Commercial, a podcast series with Scott O'Neill. And it's time now to dive in and talk commercial property with Scott O'Neill from Rethink Investing. Scott is where we all really want to be this morning in Greece, soaking up the sunshine poolside with a refreshing pina colada perhaps. It's tough being Scott O'Neill these days.
G'day, Craig. No, it's pretty good. The summer's starting to wind down. So I've been over here for, I think, nearly 100 days last time I checked. So yeah, no complaints, but getting back into the real world pretty soon.
Yes, that is going to be a real shock to the system. Now, commercial property, people invest in, they have done since the time of property. And is it fair to describe commercial as steady as she goes right now in this continuing correcting market?
You know what? That's probably one of the better little summaries I've heard for a while because it is really steady as she goes at the moment. I'm seeing all these extreme headlines coming out of the residential space. There's always an article saying there's a 25% crash coming. It's quite severe and emotional, if anything. But commercial, it isn't emotional. It really just about the numbers and we're seeing everything just say like it's basically so consistent at the moment because the returns are the returns. Look, the growth rate has slowed up. That's probably the biggest difference you've seen, but we're not seeing price falls in any of these markets except for the lowest yielding ones, which I've mentioned a couple of times on your show.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:02–0:39
2
What is the focus of the episode on commercial property?
0:39–2:59
3
How does commercial property differ from residential property?
2:59–5:54
4
What factors are affecting the current commercial property market?
5:54–8:32
5
How are commercial property investments performing in 2022?
8:32–11:02
Speakers
2 identifiedMore from Aussie Real Estate Podcast
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