The Changing Real Estate Market
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What is the main topic discussed in this episode?
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 every morning, also on Spotify and Apple and wherever you get your podcasts from. And the weekend continues. Hope it's going well at your place on this Sunday morning, the 17th day of July. for 2022. Coming up this morning, we are reflecting on some of the news, the analysis and the commentaries with some of the interviews last week on the Real Estate Podcast.
How are recent interest rate rises in New Zealand relevant to Australia’s housing outlook?
And while many households around Australia are coming to terms with the rate rises, across the ditch, New Zealand had its sixth straight interest rate rise a few days ago. And the Reserve Bank of New Zealand raised the official cash rate by 50 basis points to 2.5%. New Zealand, in fact, was a leader in withdrawing pandemic stimulus. And the Reserve Bank there have moved hawkishly to curb inflation there. which was at 6.9% in the first quarter. Now that's the highest rate in 30 years, and the cash rate is up tenfold from a record low of 0.25% back in October. So the debate in New Zealand is around how much is too much. and most economists expect the Reserve Bank of New Zealand to raise interest rates by a further 50 basis points in August, there is growing expectation that after that, the rises may start to slow down.
Why that's important to us, as you know, New Zealand is months ahead of Australia, and it is that time tunnel, that vision to look into the future just to see what is going to happen across the ditch in New Zealand.
From first home buyers to property investors and everything in between, every morning on The Real Estate Podcast.
And if you're celebrating your birthday today for the 17th day of July, happy birthday. You're in some mixed company. Camilla Parker-Bowles, she's turning 74 years old. David Hasselhoff, the Hoff, is turning 69 today. And Angela Merkel, retired from German politics, she is turning 67. And also on this day back in 2009, Walter Cronkite, the American journalist. I was very fortunate in meeting Walter Cronkite back in 1995. Walter Cronkite,
Why is Canberra’s land release ballot creating extreme competition and rising prices?
Walter was the television voice of America in the 60s and 70s especially, calling the big stories like JFK's assassination and Neil Armstrong, of course, walking on the moon, as well as the Vietnam War.
From Dallas, Texas, the flash, apparently official, President Kennedy died at 1pm Central Standard Time. 2 o'clock Eastern Standard Time, some 38 minutes ago.
Grab your coffee and switch on your real estate breakfast every weekday morning from 6.30.
How does the ACT government land-leasing model affect supply and affordability?
It's the main centre forecast with propertybuyer.com.au.
All right, let's check on your weather around Australia. First, we go to Sydney, expecting a sunny Sunday. That's the good news, a high of 20 degrees today. Melbourne, unfortunately, grabbed the raincoat and the brolly, the showers with the wind to ease during the day. Your top is 15. Brisbane, blue skies and 22. That's the pick today. And Perth, showers to increase and your high of 18 degrees. Coming up next, it's the Sunday weekend review.
What household risks arise if interest rates keep rising by 50 basis points?
Some of the interviews that we brought you over the last seven days.
It's your real estate weekend podcast in review.
Canberra has been growing strongly for many years, as you point out. So more than 57,000 people have moved to the ACT in the last five years. And that's really proving a strong driver for our housing market and for land sales unit and apartment sales. And our expectation is that this will continue for many years to come in Canberra.
Just how much of a problem is land in the ACT because there's a ballot system taking place already for land release and I understand that thousands of people are missing out. So tell us a little bit about what's happening with that and the general growth of the area.
If you're listening to this from outside of the ACT, you'll probably find Canberra's land release system and development system fairly unique compared to most Australian states and territories. For a start, the ACT government effectively owns the land and leases it on a long-term lease to residents.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:02–0:39
2
How are recent interest rate rises in New Zealand relevant to Australia’s housing outlook?
0:39–2:48
3
Why is Canberra’s land release ballot creating extreme competition and rising prices?
2:48–3:26
4
How does the ACT government land-leasing model affect supply and affordability?
3:26–4:03
5
What household risks arise if interest rates keep rising by 50 basis points?
4:03–5:50
6
How are clearance rates and buyer–vendor price expectations changing in Sydney?
5:50–7:44
7
Why are unconditional offers softening and what conditions are buyers reintroducing?
7:44–10:24
8
How should agents educate and support first-home buyers in a volatile market?
10:24–15:02
Speakers
2 identifiedMore from Aussie Real Estate Podcast
Josh Tesolin Banned for 10 Years: What It Means for Australia’s Real Estate Industry
Australia Property Market Slowing: Interest Rates Impact Sydney and Melbourne Growth
How Higher Interest Rates Are Changing Property Buying in Australia: First-Home Buyers and Investors Respond
Melbourne Property Market Distortion: First-Home Buyer Stamp Duty Cap Driving Price Pressure
Australia Housing Market Stability: Low Mortgage Arrears and Minimal Negative Equity Explained
Australia Property Prices Rising: Construction Costs, Materials and Fuel Driving the Market