Chapter 1: What are the challenges of attending multiple property auctions?
it's the real estate podcast brought to you by anz home loans for financial well-beings and welcome to another episode of the real estate podcast available on iheart radio every morning and also on spotify and apple and wherever you get your podcast from
Well, the weekend continues on our Sunday morning and it might be a property weekend where you have all of the open homes laid out across your breakfast table, figuring out which is the most economical way to approach multiple properties. And of course, it doesn't help if you're attending an auction and there are two auctions at the same time. It happens a lot.
That becomes a little bit tricky, of course, with phone bids or somebody else representing you at the auction. Tell you what.
doesn't matter whether you're on the phone or you've got somebody representing nothing can beat you being at the auction because if you are there you can read that room you can read the outside environment and look at the faces of people that are bidding but it's the next best thing isn't it if you're not there you've got to have somebody represent you or do the phone bid
So whatever the case might be today, good luck because you do need a little bit of good luck and fortune when it comes to buying and selling property.
It's your weekend real estate breakfast.
Well, today is the fourth day of September for 2022, and it's the first weekend of spring, so get out and enjoy it if you can.
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Chapter 2: How does the property market in Rockhampton compare to Brisbane?
And coming up next week, our road trip in Queensland continues. It's a virtual road trip, having pulled into Harvey Bay yesterday and finding out about the local area, and we are going to keep heading north. Our next stop is Rockhampton, Have you ever been to Rockhampton?
Well, we're going to find out what the property market is doing there and how much cheaper perhaps a house with a little bit of land for the kids compared to Brisbane is. Could this trip of ours into Rocky change your way of thinking? Well, we'll find out. On the way next, it's the Sunday Rewind. when we look back over the last seven days with some of the interviews and the real estate musings.
If you're celebrating your birthday today for the 4th of September, have a great Sunday.
Chapter 3: What insights can we gain from the Sunday Rewind segment?
You share it today with Beyonce. She is turning 40. Unfortunately, on this day back in 2006, Steve Irwin died. And in 1998, on this day, Google is founded. It was created by Larry Page and Sergey Brin. And it started out as a research project when Paige and Bryn were students at Stanford University. And the idea just took off from there.
So keep thinking about that next creative idea for the internet because you never know, it could happen for you.
And that's it.
Let's check on your weather around Australia.
Chapter 4: What trends are emerging in the Victorian housing market?
First, we go to Sydney. Good morning to you. Expect some wet stuff. The showers today and a high of 18 degrees. Melbourne, a little bit cloudy, but it should be mainly dry for your Sunday morning. 14 degrees. In Brisbane, expecting partly cloudy but dry conditions also with 21. And in Perth, expect the wet stuff also. Showers to increase in your high of 21 degrees.
Grab your coffee and switch on your real estate breakfast every weekday morning from 6.30.
Chapter 5: How do interest rates affect the housing market?
It's your real estate weekend podcast in review.
Well, we know that in Victoria, it's not exactly a subtropical winter, but try telling that to a bunch of determined, hardy souls who camped out overnight in cold conditions to be at the front of the line as the latest stage in a housing estate went on sale.
We've certainly sold the majority of them now. We've got a few more, and of course, at the next stage, it'll be interesting to see how that happens. That's the second time that we've had this over the last nine months. Just before Christmas, we had a release as well, and they were certainly camping out overnight that time.
We actually sold the whole stage out that morning before 11 o'clock on the Saturday morning, hence why there was such enthusiasm with some coming in this time around.
Wow. Wow. It's not a bad luck, is it, being a real estate agent where they're camping out just waiting to buy product from you, Laurie?
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Chapter 6: What factors beyond interest rates influence property prices?
Yeah, that's right. It does sound pretty good, doesn't it, hey?
Good morning, Craig. Look, thanks for having me back. Thrilled to be on.
Now, you did this analysis of almost three decades of Australia's combined capital house price cycles. How challenging was that to put that together?
Look, I think it's always challenging when you're picking apart data. You know, this is based upon our combined capital city house prices. It's a stratified median price.
Chapter 7: What makes a property walkable and why is it important?
And your report throws up this question. It's not timing the market that is important. It is the time spent in the market that really counts.
So our analysis really did support evidence for this argument. And what it really does showcase is you need to step back and look at property as a longer term investment. If you do that, you're really kind of viewing property as an asset that is that longer term investment. It's really hard to pick a trough. It's really hard to pick a peak. And when you take that step back and
Timing becomes much less important and picking that peak and picking that trough becomes much less important in your decision making.
Chapter 8: Which suburbs in Melbourne are considered the most walkable?
And the last significant downturn was during 2017 to 2019 when the combined capital house price fell by 7.9% from price peak to the trough.
That is correct. And look, I think that 2017-19 downturn is really fresh in all of our memories. And, you know, when you have a look across the different cities, we did see a more significant fall coming out of Sydney and Melbourne. So during that downturn, we saw Sydney house prices fall by 13.9%. And we saw Melbourne house prices fall by 10%.
And when you have a look across the declines in house price cycles over the last 30 years, one of the other things that this analysis revealed is that we are seeing the steepness. So the depth of that fall has become more significant as time has gone on. And that 2017 to 2019 downturn has been the steepest that we've seen to date through our house price cycles.
And it's always interesting for people to be aware and factor in that an upswing always trumps a downturn and the duration of an upswing tends to be longer than the subsequent downturn right?
That is absolutely correct. So over those eight price cycles across our combined capital cities, the length of an upswing tends to be longer than the downturn. We see a greater increase in price relative to the subsequent decline that follows. So historically, what that means is downturns have been shorter and less severe compared to the preceding upswing.
And although interest rates are on the minds of everybody at the moment and critically important, they are not the only factor influencing housing prices.
interest rates are really a hot topic at the moment. They are on all of our minds. And I think coupled with strong levels of inflation, you know, we are seeing us all kind of tighten our belts. You know, we are looking at how much we spend. It has damaged our borrowing capacity.
But I think, you know, this is about thinking about the big picture when it comes to property, that interest rates are not the sole factor driving and influencing housing prices. There are many other factors that influence it. Things like tax settings, banking regulation. And that's a great example because the last downturn was really constructed.
It was a structural downturn as a result of APRA changing lending conditions. Other things that influence house pricing is population and income growth, but also the responsiveness of new housing to supply to the growing demand overall. All of these things together influence property prices. It's not just solely interest rates. Enjoy your morning coffee.
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