Chapter 1: What is the main topic discussed in this episode?
We connect you to the best real estate information across Australia, The Real Estate Podcast. And last week was another busy one, and this upcoming week is going to be just as busy. And tomorrow, we have a podcast not to miss out on.
Chapter 2: What are the implications of mortgage discrimination by postcode?
We're going to be talking about mortgage discrimination by postcodes. If you haven't caught up on this, the data points and criteria that people go through to get approval for their home mortgages, in some cases... are including postcodes to determine whether or not they're a good bet to loan money to. In other words, if you are living in a poor postcode, you can be penalised for it.
And we have Jeannie Patterson, who is a professor of law at the University of Melbourne, and she's also a co-director for the Centre of AI and Digital Ethics, and she's going to join me to discuss this very issue.
Chapter 3: How is the Sunshine Coast property market currently performing?
It's only by having some transparency in the weighting of different factors that the banks who are making the lending decisions and the people who are subject to those lending decisions can say, hey, wait a minute, I understand that my credit card debt and the loans I've had in the past might be relevant to whether I'm given a loan to buy a house, but postcode is either irrelevant or positively discriminatory.
Also coming up this week, we're going to have a look at the latest medium price for the Sunshine Coast. What is happening with the Sunshine Coast? It's going off.
Chapter 4: What challenges are affecting home ownership and land availability?
And we talked to Dan Soden from Maroochydore to find out the desirability of the market.
Yeah, look, we're certainly enjoying an extraordinary time here on the Sunshine Coast. I've been in the industry 18 years, but lived on the coast for pretty much all my life. And I felt like many times over the course of my career so far, I've seen my colleagues in Brisbane or Sydney or Melbourne enjoying significant market runs while the Sunshine Coast market was very much dormant.
But it very much feels like right now where we're certainly catching up and may even be even leading the trend in many ways.
Also coming up this week, we talk to Peter Tulip, the chief economist for the Centre for Independent Studies, and we take a look at home ownership, which is shrinking and is a real problem, along with the lack of land.
Chapter 5: How can sellers avoid costly mistakes in a competitive market?
Our sense is that the key problem with housing affordability is, as I say, planning restrictions. We need to be building more housing, and that means we need to get the planning restrictions that prevent that out of the way to allow apartment buildings to go up and to allow detached houses to be converted into medium and high density.
Unfortunately, those restrictions are largely the responsibility of state governments, or in some states, local governments. We also think the federal government should be channeling more money into easing planning restrictions. So it should be creating incentives for state and local governments to build more.
We also talked to Tom Greve from Carnegie in Melbourne to talk about how to be prepared and how to minimise costly mistakes when selling your home.
Well, I think in a marketplace where it's always growing in terms of the amount of properties available, there's always new development happening. The reality is, as a vendor, there's more and more competition that you're competing with week in, week out. So if you're not ready, if you find that buyer in week one or two and you don't have a contract to sale or you don't have a section 32,
it's very easy for buyers to go on the path of least resistance. And if another agent is more prepared, it's not uncommon for them to sort of get caught up and make an offer on something else and you potentially lose a buyer.
Now, you know, if that happens two or three times over the course of the campaign, well, you know, losing two or three bidders at auction day can have a monumental impact on the outcome of the other auction.
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Chapter 6: What insights does the latest market data reveal about property trends?
And of course, to round off the week, on Friday, Rich Harvey is back with the podcast series of Let's Talk Property. So it's another busy week coming up. We connect you to the best real estate information across Australia, The Real Estate Podcast.