Chapter 1: What significant events have shaped the year so far?
It's The Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia. And welcome to another episode of The Real Estate Podcast, available on iHeartRadio, also on Spotify and Apple Podcasts, or wherever you get your podcast from. It's a Sunday, the 3rd of April, and considering it's only the beginning of April, it seems like a hell of a time.
Hell of a lot has happened already in 2022. And it makes me wonder that by the time we get to the end of the year, just how much will have happened in our lives. And there is no doubt that the Ukraine war is going to have a major effect on us this year. And the scary part is we just don't know how big that is all going to get.
Yesterday when I woke up for breakfast came the news of the bombing on Russian soil. And one part of me said, great, the Ukraine are knocking out their oil capacity for fueling their tanks. But then the other part of me worries about the repercussions and what they are likely to be by Putin.
Chapter 2: How is the real estate market reacting to current global events?
I mean, what an absolute insult for Putin, who has the biggest ego on the planet. So Ukraine is poking the bear, but that will have consequences on all of us. But yes, the year so far with floods, the instability, it's a bit to think about as we work our way through 2022. It's the main centre forecast with propertybuyer.com.au. All right, let's have a look at the weather.
And firstly, in Sydney, expecting a mainly fine day today, a high of 27 degrees. Melbourne, a few showers and 19.
Chapter 3: What should investors consider when choosing a property management company?
Brisbane, mostly fine with 29. And in Perth, expecting a high of 29 degrees and a few showers. We feature market updates, interviews and trends. It's your real estate podcast for breakfast.
And some borrowing news from the banks show that new authorised deposit-taking institution data from APRA has shown that total resident loans and finance leases grew by 0.7% over February to a total of $3 trillion, which has led to a jump in home lending. Total mortgage books across Australian banks had lifted to $1.9 trillion, with a 0.6% rise in
owner-occupier lending up to $1.2 trillion and a 0.2% climb for investor loans to $644 billion. APRA reported that there had been robust borrower demand bolstered by lower mortgage interest rates.
Chapter 4: What qualities make a great property manager?
And the other piece of news is that ANZ's total loans slipped by $226 million for the period. It's your weekend real estate podcast.
Well, coming up, we're going to have a look at part of a previous podcast around what makes a great property manager and also engaging tradies to work on your investment property and also look at some comments about the regional property push with people moving around the country.
Well, earlier in the year, I spoke to Lauren Robinson about just how important it is to get the whole property management for your property right. Because after all, when engaging a company, you owe it to yourself to do the due diligence, which presumably you have done when buying the property itself. But some people...
can be a little bit cavalier and skip on making sure that the company that you're employing is well qualified to look after your property. All investors should really look at interviewing property managers before appointing an agent and not assume that they're all the same.
So I see that that's a mistake that we see probably first time investors make quite often in assuming that, you know, they should base a decision based on fees as opposed to the qualities of that property manager or also the qualities of that agency, which comes down to their systems, their processes, their resources.
And I guess when it comes to qualities to look for in a property manager, it really is important to have really great communication. So you want that property manager to be able to give you regular updates on your property from rental payments to maintenance issues, but also ways to increase your rental return.
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Chapter 5: How do property managers engage tradespeople for maintenance?
They should also be really proactive. So if there's any minor details that relate to your investment, you need to be aware of those. And
making sure that they're on to maintenance and repairs that they're really communicating with the tenants that they're working with skilled and qualified trades people that are able to schedule repairs in a timely manner and that at the whole time that their property managers following up on all of this too and making sure things are moving along it's also the property manager's expertise so knowing the market understanding the legislation so we know we've got the rental reforms coming in queensland so or they've already occurred but we've got a lot of those changes occurring
in the future. So it's knowing what's happening in the market.
Chapter 6: What trends are emerging in regional property markets post-pandemic?
We've got smoke alarm legislation changing in January 2022, so this month. And it's also making sure that that property manager understands the market, the demographic of tenant that's likely to rent the investment property and also what that tenant is looking for an investment property.
Well, some great advice there from Lauren and something that can also happen in the background that you as the property owner might not be aware of is when a property manager engages a tradie to do any maintenance on your property, you should ask what the best practice is in this area. And whilst most have great business practices involved,
it doesn't necessarily mean that all are a level playing field and all have a level of transparency. So you really need to ask how a property manager operates in this area so that you are well informed. Oh yes, and I think that's really important to make sure, you know, is the agency that you're engaging affiliated with a tradesperson? Are they getting kickbacks?
Chapter 7: Are people moving back to urban areas after the regional shift?
You know, perhaps sometimes an agency may have an in-house tradesperson they use and then obviously that's a conflict of interest and they're not really working in your best interest as a landlord if they're you know, also receiving an income from that trades person doing the work.
So I think, you know, it's probably asking that question, do the trades people you use, like who are they, how are they vetted, you know, and have they got all their insurances in place? So, and also if it comes to larger work, so it might be larger renovations or really anything over a thousand dollars, you might want to ask for a couple of quotes to make sure you're getting the best solution.
Well, regional shifting around the country to buy property has become a phenomenon during the pandemic. I mean, right now, some of you, while eating your breakfast and looking at property in other states, might be saying to yourself, Geelong looks a bit of all right or Adelaide. I like the look of the median house price there. It's appealing.
And we spoke to Nerida Conisby about it earlier this year and she spoke about some of the areas that are and have continued to see people moving into those hot regions. The regional shift was one of the more fascinating parts or the fascinating things that happened during the pandemic.
We did see more people move to regional Australia than had ever been recorded and it was interesting because over decades we've seen government policy try to move people to regional areas but it did take the pandemic to do it. So lots of people moved to the regions. A lot of areas that had never seen much price growth did start to move.
So it was partly people moving there because they were working differently. But we also saw very good conditions in mining, in the mining sector that pushed up prices in A lot of mining towns and also agriculture did really well. So there were a lot of towns in the Western Australian wheat belt, for example, that pretty much hadn't moved for a very long time.
But then we had these amazing wheat growing conditions and prices started to take off. So it is an interesting trend. I guess the thing that people do tend to ask now is, are people going to move back? We don't know. I mean, the people are getting called back into the office and living in regional areas.
If you can't commute very easily back into that capital city, it does make it a little bit more tricky. But what I think we do need to keep in mind that even prior to the pandemic, places like Geelong were really starting to take off in terms of price growth. Getting to Geelong from Melbourne is, you know, it's about an hour's drive.
There has been an investment into a business study into getting a fast train, which would reduce the commute to half an hour. head down to the Illawarra and again there's a train which for some people it would be quicker going from Wollongong up to Sydney than it would be from travelling from some of Sydney's western suburbs.
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