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.
Chapter 2: What trends are emerging for millennials in real estate?
There is a large number of millennials living in apartments, but one of the predictions for 2022 is that this age group will continue to move up into family-sized houses, which means moving out of dense urban cities and settling in suburbia. Yeah, so the millennial generation, of course, is by far the largest generation cohort that we have in Australia.
And they procrastinated for an awful long time to start their families. So they only start families at scale in their mid-30s. That means, you know, the millennial couple adds a first, a second child to their families. And all of a sudden, their inner city one to two bedroom dwelling becomes too small.
Chapter 3: How are family dynamics influencing housing choices?
You know, we talk about the water cooler conversation at work, but I think a lot of this is driven by over-the-fence conversations with neighbours. You know, they're getting together, they're having a bit of a chat. You know, one neighbour will say, well, I just bought this apartment in Brisbane.
One doesn't want to miss out on the other one outperforming, and I think a lot of it is just being driven in circles around the neighbourhood. 100%. And you know, the safest bet always, whenever we go through a crash in the market or COVID, bricks and mortar has always been the safest bet.
Chapter 4: What factors are driving suburban migration in Australia?
I think that average mom and dads are looking at it and saying, hey, what are you buying? Why can't I do this? Or you're borrowing, pulling equity of your house. I'll do the same. What are the good buys out there? So there's a lot that has been driven by that.
Chapter 5: How will interest rates affect the real estate market in 2022?
People talking about their purchases or what their investment plans are. But I think like any federal election, people will get a little bit nervous the closer we get. They usually sit on their hands for a bit. So I am predicting that there might be some buyer opportunity in April, May, maybe.
But all in all, I think that we've got still very low interest rates and we can talk about rising interest rates, but we're still in a very low interest rate environment. And we have a lot of pent up buyer interest. We have slower building starts and more expensive building projects because of our materials and builder shortage. We're about to open the gates to international migration.
Chapter 6: What predictions are being made for buyer and seller dynamics this year?
So I think in terms of buyer versus seller numbers, I think our ratio will remain strong in favour of sellers this year. I'm predicting that we'll have some pretty strong growth still. takes a pandemic to improve the reporting, Hayley. Sure does.
And some of the reports that the renters did, I've got a property in Geelong West and the report she sent back, I have to say, was more detailed than what my property manager was doing. So, you know, often you've got these renters that actually can take that detail because they live in the property every day. So, yeah, it was really interesting seeing the quality of reports that came back.
employ that renter i say she's fantastic she's been in my property now for i think four or five years she's just amazing we feature market updates interviews and trends the real estate podcast