Chapter 1: What is the focus of this week's property review?
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 iHeartRadio every morning and also on Spotify and Apple and wherever you get your podcasts from. It's a Sunday, Sunday morning, yes, the 11th day for September for 2022. And our road trip in Queensland, yes, it's still continuing. It's going to continue next week. We've nearly arrived in Cairns.
So if you're wondering what's happening in the Cairns market there, we're going to be talking with Kyle and he is going to give us the lowdown. And coming up shortly, we have the Sunday Rewind where we take a look back over the last seven days with the interviews. Also, a little bit of a spotlight on a couple of our destinations with our road trip.
And if you want to feel some fantastic nostalgia... I can thoroughly recommend a doco that I watched on Netflix last night all about the David and Goliath showdown on the water between Australia and the New York Yacht Club and Dennis Connor.
It happened a long time ago but that won't stop you from recounting the memories back in 1983 when John Bertrand and Alan Bond had the weight of a nation on their shoulders. In fact I'd forgotten
that they were 3-1 down best out of four races so everyone had written the Aussies off and man did they come back to win in style the first time the Americans had lost the America's Cup and they lost it to the Aussies
We talk with leading property commentators with analysis, predictions, forecasts, and what's trending every morning from 6.30.
Hey, if you're celebrating your birthday for the 11th day of September for 2022, have yourself a fantastic Sunday. Moby, the American singer, songwriter, and DJ, he's on the birthday calls. He is turning 57. Harry Connick Jr., he is turning 54. And, of course, September the 11th, if you do the maths, it's an infamous day back in 2001.
Two passenger planes hijacked by al-Qaeda crash into the New York's World Trade Center towers. Of course, both of the towers came down and caused the deaths of 2,606 people.
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Chapter 2: What insights does Kyle provide about the Cairns property market?
We've been here in Harvey Bay ourselves now, myself, my wife, Katrina, for 17 years this year. And the town has steadily grown throughout that period. But ironically, since COVID, we've seen a dramatic increase in our buyer population and the demand for housing.
So our demographic is changing with that because with that, we're seeing significant construction projects going ahead, new estates growing. tradies. You can't get a tradie at the moment if you try to get a tradie. Also, because of the age demographic, the medical services have expanded significantly over the last three years.
I'll jokingly say we've got a medical centre on just about on every second corner now. And those medical professionals are Usually that middle-aged demographic, they've got kids, they're on obviously higher incomes, and they're changing the face of Harvey Bay. We're getting more retail outlets, more cafes, restaurants. So yeah, we're definitely seeing a change in our demographic.
Harvey Bay in the last six months has experienced the largest real estate boom in its history to date.
All right, so let's have a look at some of these stats because last year, the stats reflected that Harvey Bay saw an 18.3% increase in house prices. What is happening right now in 2022 in terms of the median house price?
Yeah, my feel has been that we've seen since January 2022, we've seen an increase across the board for predominantly houses, whilst we still have seen an increase in demand and sales on units and townhouses. The majority of the purchases have definitely been residential homes, freestanding homes. Our expectation is we've seen a 33% increase in values this year alone.
So it has been a significant increase. But in saying that, We came off a very low base, like Harvey Bay, the cycle over the last, say, 15 years. We sort of peaked back in 2008 after the second largest growth spurt in Harvey Bay's history between sort of 2002 and 2007. And then we lost really nearly all that growth after the GFC. Enjoy your morning coffee.
It's your real estate weekend podcast in review.
The tale that you've got almost sounds like somebody that's been in property for about 15 to 20 years, but you've only been going three years. So tell us that initial thinking of getting in and how excited you were to get into the property market.
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