Real Estate Performance
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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 podcasts from. Well, it's the end of another working week. A short week makes the week go fast. Friday, the 22nd of April for 2022. Coming up in just a moment, Rich Harvey, of course, is here from Property Buyer. And we're going to be looking at past real estate performance and how that informs the present. And we'll also look at property cycles. But first, let's have a look at the weather. It's the main centre forecast with propertybuyer.com.au.
All right, and in Sydney, expecting a few showers with 22 degrees. Melbourne, partly cloudy. It's going to be cool there with just 18 degrees. Brisbane, expecting a shower or two with 27. And in Perth, some morning smoke again and then fine conditions and a high of 28 degrees. Across every state, city and town of Australia, The Real Estate Podcast. Well, earlier this week, we talked about a woman being punched in the face in a Perth nail salon after asking a woman next to her to wear a mask. One of the news stories this morning from Chicago has left me asking, why would you do that? A passenger on a flight continually baited the former world boxing champion Mike Tyson, who won 50 out of his 58 fights.
So the man continued to annoy Tyson with verbally continuing to have a crack at him until in the end, unlike the Will Smith slap, Tyson punched the man. I mean, this is a former world boxing champion who infamously bit part of Evander Holyfield's ear off in that world heavyweight fight in 1997. If you're a millennial and you might not have seen that fight, it is one to watch for sure. It's a bruising encounter of Mike Tyson out to win at all cost. But back to the man on the plane. He was seen left with blood on his head and soon after Tyson departed the flight. We feature market updates, interviews and trends. It's your real estate podcast for breakfast. Well, it's often said that the past performance is no guarantee of future performance in financial markets and in politics, for that matter, as we think about the general election.
But how does this statement measure up in the property market after a national property boom? And what might it mean for your property strategy in 2022 and beyond? Well, of course, it is a Friday and to help us unpack all of this, Rich Harvey, CEO and founder of propertybuyer.com.au is back this morning and a very good morning to you, Rich. Good morning, Craig.
What is the significance of past performance in real estate?
Great to be with you. Welcome back to the Real Estate Podcast. I understand that you had a pretty relaxing Easter. Yeah, it was a great Easter, thanks. Craig, it was really nice. Got out in the sunshine and caught up with some family and friends, got down to the beach and just enjoyed having a bit of a holiday at home this time. Absolutely. You cannot beat an Easter long weekend break for relaxation. So Rich, how does this statement, does past performances leave clues? And more importantly, does this measure up when thinking about the property market in 2022? Craig, that's a great question. And what I'd like to talk about is how we can use that past performance to your advantage. I mean, at its simplest level, we've got decades of figures available to show that as the population grows, as productivity improves, and as incomes rise over time, then we're going to see people's wealth rise in the economy.
And over time, because that happens, people tend to pay more for well-located residential land, and so we see property prices rise. So the theory goes that in popular, highly sought after landlocked locations, there's going to be increasing demand for housing, but only a limited supply available of land. And that's where you see property prices appreciate fastest of all, well above the rate of inflation. So that all makes logical sense, but do the numbers fit the narrative? So I'd like to just discuss a very brief example in the Brisbane market, if I may, just and talk about that sort of 10 kilometre ring around Brisbane.
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