Chapter 1: What insights does Julie Gauci provide about the Southern NSW property market?
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, I don't know about you, but the season is certainly changing and we're not far away from heading into June. Today is the 19th of May for 2022 and a Thursday morning with another weekend fast approaching.
And if you're looking this weekend for something to watch, I see that one of my favourite films back on this day in 2007 was premiered at the Cannes Film Festival and went on to win Best Film at the Oscars that year. And the film is No Country for Old Men. I can totally recommend that if you haven't already seen it. Even if you've seen it, it is worth a second watch.
And if you like a romantic comedy, a feel-good, heartwarming and fuzzy movie, then this movie isn't for you.
Chapter 2: How has COVID-19 impacted property buying trends in Southern NSW?
It's the main centre forecast with propertybuyer.com.au.
Okay, let's have a look at weather around Australia. First, we go to Sydney expecting a mostly fine and sunny day with a high of 19 degrees. Melbourne expecting mainly dry with cloudy periods and 15 degrees is your high. Brisbane, a cloudy but rain-free day, a high of 24 degrees, and in Perth expecting one or two showers, so pack up the brolly, and 22 degrees is your high.
And coming up in just a moment, we are talking to a real estate agent in New South Wales to see what the market is doing there since we last spoke to her. Also coming up this weekend, Aussie Daniel Ricciardo will make Formula One history at the Spanish Grand Prix in Barcelona.
It is going to be his 216th F1 race, surpassing the record held by Mark Webber for the most Grand Prix starts by an Australian driver. And let's hope that he goes well because Ricardo has been struggling with his second season with McLaren, among some rumours that his seat in the car could be in danger unless he turns things around.
Well, I guess if he ended up leaving F1, he'd make a great real estate agent with that positivity.
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Chapter 3: What changes have occurred in rental availability since the pandemic?
And just imagine that smile welcoming you at every open home.
Enjoy your morning coffee. Wake up every morning to the Real Estate Podcast.
And I saw yesterday an interesting piece from realestate.com.au. It seems that the Australian politicians love property ownership, probably something we already knew, but they looked into the numbers and it revealed that 205 politicians in the federal parliament own a total of 421 homes between them. And that's an average of 2.05 homes each.
And of those 421 homes, 254 are declared as either primary or secondary owner-occupied residents, while a further 167 are declared as investments. And also, only seven politicians declared no real estate ownership, meaning that nearly 97% of politicians are homeowners. And that's compared with the average Australian homeownership, which sits around 67%.
And politicians, as it turns out, are aggressive investors as well.
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Chapter 4: How do cash rate rises affect buyer behavior in real estate?
the report revealed that 103 federal politicians declared ownership of at least one investment property, which means a little over 50% of them are active landlords.
Informing you on real estate. It's the Real Estate Podcast.
Well, one of the best barometers for how the market is travelling is to talk to different real estate agents in different states around the country. You can generally get a pretty good feedback feel and idea on what is going on.
Of course, it's not scientific exactly, but it's pretty accurate, I think, because the interactions that these agents are having with their vendors really does paint a picture. So with that in mind, let's travel to the South Coast in New South Wales and talk to Julie Gorsey from Ray White. Good morning, Julie. Welcome back to the Real Estate Podcast.
Chapter 5: What is the current state of premium properties in the area?
How have you been?
Good morning, Craig. Thanks for having me. Yeah, I've been really well, thank you.
I think the last time that we talked about that great spot that you are in, there was a bit of a problem with the locals not wanting outsiders to invade their town, buying up the coastal property. So what's been happening in that space?
Yeah, well, it's certainly calmed down. COVID just made everything crazy, really, didn't it? From buying toilet paper to buying a beach house or something outside of Sydney or even renting a property outside of Sydney. If you're in lockdown, you weren't sort of stuck.
Chapter 6: What factors are motivating sellers in the current market?
You know, this is where everyone wanted to be if they were going to be in lockdown. So things have certainly changed. We're definitely feeling that. Like this is typically a quiet time of year for us. So now that you take, and I'm talking about the town in general, now that you take COVID out of the equation, it's like we're back to our normal rhythms of high season, low season.
So if you're out on the streets at the moment, there's no one around. It's quite peaceful and it's very quiet, which is sort of what we're used to. So it was sort of towards the back end of last year that our open home numbers, you know, almost halved or more the number of registered bidders on property and the level of buyer inquiry on each property.
We really saw that shift back end of last year when we sort of got back to work after the January holiday period. You know, that's when we really started to say, okay, well, this market's actually looking like it's coming off now.
Chapter 7: How do political trends influence property ownership in Australia?
And we've talked a lot on the Real Estate Podcast about premium properties, which are still selling well. And of course, where you are, there are a lot of premium properties. So what is happening in that space?
Well, it's still a supply-demand scenario, as it always was there. You know, when it comes to your beachfront property, which would be your premium properties for our area, you know, we sold one in April for a record price of $4.55. So that was a record for the marina in Coldborough Beach, which is the beachfront strip there.
And there's still only ever one or two beachfront properties available at any one time. In fact, we've got one going to auction tonight, which we've got some good interest in.
And Julie, what are the vendors saying to you at this time? For instance, have some who were not quite ready to sell suddenly are ready?
People who were thinking of selling could kind of already see prior to now and they are on the market now. They've already come to market. People that I'm dealing with now that are coming to market aren't sort of looking to just capitalize on the fact that the market is about to peak. Because I think generally in our area, people can see that it has peaked.
So basically, anyone that's coming to market now is absolutely a motivated seller for reasons other than simply cashing in on a really hot market.
And yesterday on the show, we had Karen asking the question. There's a lot of talk around trying to pick the next cash rate rise. She wanted to know because she wanted to get closer to narrow down that guesswork on the date because she's got a $750,000 mortgage.
Buyers are nervous. Everyone's always asking the question and speculating when the next rate rise will be. It's a question that, you know, I can't answer. I don't pretend to be an expert in economics or anything like that. Really for me to help people make purchasing decisions, I can only sort of comment on the facts of what we're seeing. And
If you were one of the buyers, this is what I sort of say to people who may have given up during that really crazy period that we experienced, now is a great time. You know, we're averaging between one and three bidders at each of our auctions as opposed to previously, you know, we'd have at least eight or 10 bidders per property. So much less buyer competition.
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