Chapter 1: What is the current state of the commercial real estate market?
It's The Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia. Somebody could sort of throw up a negativity when it comes to offers. So of those three, how do you rate them in the commercial space? Look, I never like to generalize, but you do have to.
Industrial is right now from coast to coast across Australia, probably the strongest subsector of the commercial market because all these businesses that have been forced to close their doors with COVID, they buy and store and sell a lot of their products online now.
Chapter 2: How is FOMO influencing property buying decisions?
On top of that, build costs are going through the roof. So to build more of this stuff, it costs more. So there's actually quite rapid capital growth happening. They've encountered this hot market and the FOMO is just costing them and costing them more and more money. FOMO is a very, very dangerous thing.
Chapter 3: What challenges do buyers face on settlement day?
Our emotions guide so much of what we do. And FOMO is sort of like a part of social proof. And there's all these sort of behavioral biases that we respond to when we're buying property. How is the rental market looking?
regional is crazy and one of her property managers said that her rents have gone from 200 a week to 400 a week in the last 12 months some people can stumble at that final hurdle which is the whole settlement day a back-to-back settlement so a client might be selling and settling their purchase on the same day one must take place before the other you've got removalists to consider
Chapter 4: How has the pandemic changed our views on financial freedom and geography?
If one settlement fails, the other will fail. But it's having the confidence to know what's going to come next and what you've got to do to get your ducks lined up to be in a position to make a successful offer. So speed absolutely kills a deal. And if you can make sure you move really quickly, you'll be in pole position.
But it has taken a pandemic for people to sort of wake up about the financial freedom.
Chapter 5: Should individuals amend their tax returns after buying property?
But coupled with that is the freedom of geography. Yeah, we can live wherever we choose to at this point in time. You know, the pandemic has really opened our eyes to see that that is something that's very, very possible. And then because with the pandemic, the opportunity is there now. So it depends on how we want to take advantage of that opportunity that we have.
Should people go back and amend their tax returns? Yeah, I think they should go back and amend their tax returns because the catch is you've only got two years to amend. The ATO have only got two years to come back and whack you for it. We connect you to the best real estate information across Australia, The Real Estate Podcast.