Chapter 1: What is the focus of this week's Real Estate Podcast?
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. Well, it's another Sunday. Yes, your weekend continues around Australia. It's the 3rd of July for 2022. Coming up, we've got the Sunday Week in Review.
It's a look back on some of the news and interviews that we've done over the last seven days. Also, Amy is here with details about how you can now enter the Hunter Valley Prize that we're giving away. Now, you need those seven secret words to go into the drawer. If you didn't write them down, you can go back and find them in previous podcasts.
Let's have a look at who is celebrating a birthday today. It's Tom Cruise. He's got the big number of 60. And he's got the big movie out, of course. Anybody that I know that has seen the movie is raving about Top Gun. And if you are celebrating your birthday today, have a great Sunday. 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.
Grab your coffee and switch on your real estate breakfast every weekday morning from 6.30. It's the main centre forecast with propertybuyer.com.au. All right, looking at your Sunday weekend weather. First, we go to Sydney expecting more rain and a high of 17 degrees. In Melbourne, expect some more cloud around, but it should be mainly dry and 13 degrees.
Brisbane, also some cloudy bits but a mainly dry Sunday and 21. And in Perth, expecting blue skies and your high today is 20. From first home buyers to property investors and everything in between, every morning on The Real Estate Podcast. It's your real estate weekend podcast in review. What about the confidence?
Do you feel like that confidence with the buyers and I guess, you know, vendors is creeping back now into the marketplace?
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Chapter 2: What are the details about the Hunter Valley Prize giveaway?
I feel it was last week and moving forward. There's a bit more certainty around interest rates. There's good job security at the moment and people know where they're at. There's no mysterious what's going to happen in the future. Everybody knows where the interest rates are headed, that they're going to go up. So they're budgeting for that.
What are you making of people's budgets at this moment in time? Yes, everyone's being a bit more careful, but unlike last year when people were just low interest rates, don't care, I'm going to pay the most money I possibly can. Now everyone's a bit more measured and more sensible. It's more predictable now, I feel, moving forward.
And talking about being measured, I believe that when it comes to buffers, you like to have a bit of a conversation with regarding one price and then the buffer price. Tell us a little bit about that conversation. I always have that conversation with buyers.
I think it's important because you'll always have that price or a buyer will always have that price that they'll high five their mates at the pub. Yes, I bought this property yesterday, but I always say it's really important to have that buffer price as well. The push comes to shove price because you don't want to wake up the next day and go, I should have had another bid.
I should have had a buffer on that. So we always have that conversation just before auctions and sales. So people People don't walk away. Enjoy your morning coffee. It's your real estate weekend podcast in review. Okay, so phasing out stamp duty is going to reduce the deposit hurdle, which is a major barrier for first home buyers.
How much do you think of a bump in the number of people now getting into the market that you'll start to see benefiting from this move? Mate, we're already seeing that people calling in clients that we would have spoken to over the last six to 12 months who didn't have the deposit just yet. Now they are getting very excited. So we are hoping for a significant increase.
Ideally, it should double the number of first home buyers that we look at next year. And that's just a very conservative guess because... There are a lot of first home buyers in that boat with savings of just under 50,000. When they don't have to fork out an additional 20 or 30,000 in stamp duty, they're pretty much ready to buy a house. Wow, that's quite significant.
So doubling the amount of people that you're going to see. And another thing that I hadn't considered is that stamp duty has been deterring families from moving house when, for example, they might have got a job, a new job, perhaps in another city.
They wanted to take the job, but the whole move with the stamp duty had been a factor for them not moving, not moving to a better job, unaffordably able to move to another city. Absolutely. And that's a big one because I like the government's intention here because it's a bit of good news paired with all the other things that are happening in the market with interest rates and everything.
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Chapter 3: How is the weather affecting real estate this weekend?
All right. Well, look, thanks for jumping on the call with us and all the best of luck for the new home. I hope it all goes well. Yeah, thank you. A few days till we move now, but it's getting quite close. Enjoy your morning coffee. It's your real estate weekend podcast in review. And what was it that made you particularly want to become an auctioneer?
And how much of a challenge was that when you first started?
I absolutely got a kick out of the process, the whole campaign from start to finish, but in particular that pointy end bit at the property where you saw the auctioneer have to build quite a connection quite quickly with the vendors and of course the buyers as well, meeting them most of the time on that day. I loved how you have to think on your feet.
You know, it's a quick process, but you become quite close to the people and they trust you. So it's important that you are a trustworthy person and you work with the agent. You're really at that pointy end of the deal and afterwards, whether it sells or it doesn't sell, you've sort of gained trust from the vendor and the buyer and you can work towards a sale afterwards.
But of course, if it does sell under the hammer, the best feeling in the world is seeing the vendors and the buyers celebrate. I just absolutely love that. that feeling.
And Tara, I've seen a few female auctioneers in action and I've seen you as well. Women, it seems to me, they don't style the way they run an auction off the way the boys do. It's more, shall we say, quite calm, even subdued, which has that completely different style and vibe, which I think it's very contrasting between the two sexes.
Yeah, it definitely is. I think we're very used to seeing that block style auction where it's kind of bridging on the yelling thing. So I certainly have toned it down. I feel personally, and this is just a personal opinion, that people, if they're feeling comfortable at an auction, they will be more inclined to bid. That has worked for me in the three years I've been doing it.
I just work on making people feel comfortable. I entice them to bid. You know, I think that's just, that says something within the industry and especially how we're going. People really have to feel comfortable in an auction. And if they feel comfortable, they'll bid and often they'll pay more cheekily.
It's your Real Estate Weekend podcast in review.
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Chapter 4: What is the current buyer confidence in the real estate market?
So just explain that cap for our first home buyers that are listening in terms of that situation for you. Yeah, well, currently the cap is $650,000. And then in the new financial year, it will be even more, I believe it will be $800,000. And I reckon that a lot of first home buyers will be in the same position as me where they wouldn't be able to afford a property worth more than $800,000.
So in that regards, they wouldn't have to pay any stamp duty at all because they wouldn't be purchasing the property over $800,000. So the new land tax wouldn't affect them at all. So it would be kind of pointless for them. We connect you to the best real estate information across Australia. The Real Estate Podcast.