Chapter 1: What is the main topic discussed in this episode?
It's The Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia. And welcome to another episode of The Real Estate Podcast, available on iHeartRadio and also Spotify and Apple Podcasts, or wherever you get your podcast from. Well, it's a Thursday already and the 12th of May for 2022.
In a moment, Scott O'Neill is here from Rethink Investing and we are looking at how the impending election might affect commercial investing. Hey, if you're celebrating a birthday today, happy birthday, you're celebrating it with Rami Malek, the actor who played Freddie Mercury in the movie Bohemian Rhapsody, and I was surprised by his age. He's turning 40 today, 4-0. That genuinely surprised me.
I didn't think he was any older than, what, 28, 29 years of age, but clearly he's inherited some great family genes. It's the main centre forecast with propertybuyer.com.au. Okay, let's have a look at your weather today. And it's a good morning to Sydney, where you can expect some rainy bits during the day and a high of 23 degrees. Melbourne, one or two showers and a coolish 19 degrees.
Brisbane expecting some rain with 24. And in Perth, also some rain and possibly some of it heavy and just 18 degrees today. Enjoy your morning coffee. Wake up every morning to the Real Estate Podcast.
Well, if you're wondering what is happening with that all-important metric of views per listing, which helps to measure the supply and demand in the real estate industry, the steepest monthly declines in views per listing was seen in Hobart, down 16%. Canberra was down to 13.2% and Sydney down to 12.4%.
And when it comes to the median number of days a property was listed on realestate.com.au in April, it increased two days month on month to 35%. And properties sold more slowly last month in every state and territory except for South Australia and the ACT. So not all states are equal. Informing you on real estate. Let's Talk Commercial, a podcast series with Scott O'Neill.
Yes, it is that Thursday time and we're going to be having a look at the election and how the election affects commercial investing. But first, let's get to Scott from Rethink Investing.
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Chapter 2: How might the upcoming election impact commercial property investing?
Good morning, Scott. Good morning, Craig. Good to be back. Great to have you back on the podcast. It is a Thursday. So, yeah, it's a really good, interesting question, this, how the election is going to affect the commercial investing. Yeah, look, every election is slightly different.
Like the big theme at the moment is the interest rate increase talk has already resulted in some of the housing markets declining. you know, 5%, 6%, 7% type numbers. There's different growth drivers in that supply and demand ratios as well. But election results in one thing and it results in uncertainty. And that uncertainty means people tend to not want to list them as many properties.
Like it's a good excuse to delay a listing. So that's one of the big themes we're seeing currently at the moment. There's less stock and particularly in the commercial market. And what's likely, do you think, once we get this post-federal election behind us? Because there's just all this uncertainty that you're talking about.
And I guess from your point of view, particularly Rethink Investing, you'd like to sort of get back to business as usual. Yeah, exactly. Look, once that uncertainty of the election passes and there's a bit of a back to business mentality, we see listings will increase. People have made the decision to sell. They want to sell before winter. That's sort of a bit of a selling season.
We're getting pretty close to that. This election is sort of a funny one because there's no great fear with the property market versus, you know, you may remember the negative gearing scrap Labor was proposing to introduce a few years ago. There was a lot more uncertainty back then versus this time around.
So to answer your question, Craig, I don't see there's going to be a great deal of change before or after. But look, it's just getting back to business. And that's sort of what everyone really wants after, you know, two and a bit years of COVID as well.
And I guess, you know, the investors that are out there, because of that uncertainty from the commercial investor's point of view, they will sort of pick up on different things that each party are saying. And I guess we could highlight now whether there is any one particular party that would actually assist the commercial investor. Yeah, interesting question.
There's virtually no real difference between the two parties this time. As you know, Labor scrapped the abolishment of negative gearing. That would have made a big difference to the market. This year, besides the fact they're both trying to help first-time investors or home buyers, should I say, into the market, That's obviously nothing to do with commercial.
And we're not going to see any sort of policies directed to this in this time around. So I don't think Labor or Liberal is going to make any material difference to us commercial investors. And no parties dealing with the supply issues. You know, we're finding there's still, you know, that's going to be a major problem. issue in the residential markets as well.
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