Weekend Real Estate In Review
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What is the main topic discussed in this episode?
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 and also Spotify and Apple Podcasts or wherever you get your podcasts from. Well, it's Sunday the 24th of April for 2022 on this long weekend. Remembering the Anzacs and the Fallen tomorrow on what is the most important day, I think, of the year, Anzac Day. Good luck if you're having breakfast this morning, getting ready to either view property around Australia or attending that all-important auction, wherever that might be. It's the main centre forecast with propertybuyer.com.au. Alright, let's have a look at the weather forecast.
Firstly, in Sydney, expecting one or two showers today and a high of 23 degrees. Melbourne, mostly fine with 19. Brisbane, also one or two showers with 25 degrees.
What are the latest trends in Australia's rental market?
And in Perth, possible morning smoke again. It will then clear to a mainly fine day and expecting a high of 29 degrees. We feature market updates, interviews and trends. It's your real estate podcast for breakfast. Well, demand for rental properties in capital cities across Australia is nationally rising at their fastest pace in seven years as supply is squeezed. That is according to the new PropTrack rental report, which shows the first three months of 2022 shows severe shortages of stock. The report also shows the high increases in the rental demand per listing metric, which measures how many would-be tenants are viewing properties on realestate.com.au. Melbourne and Sydney have seen the steepest year-on-year increases in demand per listing, which is up to 59.6% and 52.2% respectively to new highs.
And demand is also up in Brisbane to 32.2% in the 12 months to March, while Adelaide's measure is 29% higher year-on-year. So rental demand per listing nationally combined across Australia has increased by 37.1% year-on-year, and that demand is putting upward pressure on price growth. It's your real estate weekend podcast in review. Well, earlier this week, we looked at the concept of sharing the cost of a mortgage with somebody that you know or potentially somebody that you don't to buy a property and share the cost of a mortgage. And I spoke to Rate City Research Director Sally Tindall. Well, it's all about thinking outside of the box. And so for starters, the obvious choice is to potentially, well, to buy with a partner.
But if you're not married or if you don't have that special someone in your life, that's not often possible. And so... Looking to a family member can be an option. Looking even to friends can be an option. However, it doesn't matter who you buy with. It's really important to sit down and make sure you're both on the same page. You've got to think through the short-term strategy, the medium-term strategy, but also the long-term strategy for that property and for your plans. Otherwise, it could get quite messy quite quickly. You know, I'm just thinking the first question is probably, how much do you earn? Absolutely. You've got to go and sit down and work out how much you as a combined force can borrow from the bank.
And that's really important. But it's also really important... not just to accept what the bank says you can borrow, but to really map out your finances and have a buffer in there to plan for uncertainties. Like if you're buying with someone that's a friend, you've got to work out who's paying for what when the roof breaks, when the roof leaks, sorry, or the hot water system blows up or strata decide to put up the levees.
How can sharing mortgage costs help first-time buyers?
You know, there are all sorts of costs that come with a house. It's not just the mortgage. Yeah that is true and the other thing about this is not to look at this as a radical thing but rather a necessary thing for the times that we live in and Aussies are pretty good at thinking outside the norms. In fact if there was a gold medal on offer for that Australia would win it every time hands down. So I wonder Sally how much of this has a little bit of a
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:02–1:04
2
What are the latest trends in Australia's rental market?
1:04–4:13
3
How can sharing mortgage costs help first-time buyers?
4:13–6:09
4
What are the risks associated with flipping houses now?
6:09–8:27
5
How has the property market changed in recent years?
8:27–10:34
6
What should buyers consider when entering the property market?
10:34–11:01
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