Property Heightened Panic
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What is the main topic discussed in this episode?
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 and also Spotify and Apple Podcasts or wherever you get your podcasts from. And we are back into a brand new working week. Monday is here. I hope any transactions across the weekend in real estate went your way. And today is the 4th of July for 2022. Coming up, we're going to be talking about consumer confidence and public perception of any heightened panic in the market. Amy is here to tell you how you can enter the Hunter Valley prize package we're giving away. And entries close this coming Saturday, which is the 9th of July. So make sure that you get those entries in.
And happy birthday if you are celebrating today on the 4th of July. And I see in the history books that Casey Kasem's American Top Four 40 debuts on a Los Angeles radio station on this day back in 1970. And if you don't know who Casey Kasem is, here he is introducing Aussie band NXS from 1991 on the American Top 40 Charts. Jumping six notches are six Australian rockers taking a well-earned rest after a grueling year-long world tour. Taking it a bit easier these days are vocalist Michael Hutchence, guitar players Tim Ferriss and Kirk Pengilly, keyboard player Andrew Ferriss, bass player Gary Gary Beers, and drummer John Ferriss. In excess with Bitter Tears. In excess. It's the main centre forecast with propertybuyer.com.au.
It's a great way to start our Monday, a little bit of NXS.
How are rising interest rates affecting consumer sentiment?
Let's have a look at your weather around Australia. It's been hellish for New South Wales over the last 24 hours. And in Sydney, expecting some more rain and it's going to be windy. 17 is your forecast high. In Melbourne, expect some more cloud around, but it should be mainly dry. Your high of 14. And in Brisbane, expecting a possible shower today. 17 is your forecast top. And in Perth, a sunny Monday with blue skies and a high of 20 degrees. The competition is now open. You can enter the Hunter Valley Prize giveaway. Remember, you need seven secret words. If you are not a Breakfast Club member yet, you can put in the header, New Breakfast Club Member, and please include your phone number. We need to be able to contact you if you win.
You can email us at myrealestatepodcast at gmail.com. Entries close on the 10th of July. Good luck. We are just as addicted to property as you are. It's the Real Estate Podcast, across Australia, seven days a week. Well, we talked on Friday about the rising interest rates and about consumer sentiment taking a bit of a nosedive, but is it all bad news? Falling consumer confidence and increasing costs of living are the negative pieces in play with this, but do opportunities still exist in the property market right now? Every day, it's easy to wake up and hear the doom and gloom of 2022 heading in one predictable direction. So let's bring in this morning Nicola McDougall, who is the chair of the Property Investment Professionals of Australia.
Good morning, Nicola. Great to have you on the Breakfast podcast this morning. Good morning, and thank you so much for having me. So doom and gloom, it's on the lips of everybody out there. Is there too much, do you think, being made right now of the raising rates environment? This balance seems to be missing in a lot of the commentary out there. I think people have seemed to have forgotten that the reason why rates were at emergency lows was because it was an emergency and we had that cash rate of just 0.1%. So the reserve cut the cash rates, interest rates fell because of that to protect the economy and to protect homeowners, mortgage holders at the time. So it was always going to be a temporary point in time, I suppose.
And now that we're sort of starting to see those interest rates increasing back up to, well, they're still below what they were before COVID hit. In my personal opinion, there seems to be a lot of alarmist commentary out there when rates are actually moving off an emergency low, which is a good thing.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:02–1:57
2
How are rising interest rates affecting consumer sentiment?
1:57–6:51
3
What opportunities exist in the property market despite rising rates?
6:51–9:29
4
How important is financial stress-testing for new borrowers?
9:29–12:31
5
What factors contributed to the recent inflationary pressures?
12:31–13:41
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