Weekend Real Estate In Review
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What insights were shared about the current real estate market trends?
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 iheart radio and also spotify and apple podcasts or wherever you get your podcast from Well, I hope that you're enjoying your weekend on this Sunday, the 8th of May for 2022. You might be enjoying your breakfast about now. Coming up, we've got the weekend review. It's been a busy week for the real estate reports and statistics. And what's interesting from some of our guests over the last week is that it's very clear that it's a market correction and not a slump in some of the metro cities like Melbourne or Sydney.
It's the main centre forecast with propertybuyer.com.au.
Looking at weather around Australia for Sydney first and mainly fine and sunny with 21 degrees. Melbourne a few cloudy bits but mainly dry and a high of 15. Brisbane expecting some showers with 23 degrees and in Perth some cloud cover but mainly dry with 25 degrees.
How is Brisbane's real estate market performing compared to Sydney and Melbourne?
We feature market updates, interviews and trends. It's your real estate podcast for breakfast.
And as I mentioned earlier in the week, Bill Gates singled out some countries, including Australia, who did really well in the pandemic early on. And as a result, the death rate was so much lower.
Well, there weren't many countries, but a few responded very quickly to scale up the level of diagnostics. And then they had quarantine policies that were well adhered to. So Australia stands out and their death rate is about 10% of other rich countries. So pretty dramatic benefit.
And Bill Gates has also made a prediction that we might see another virus that could be more transmissible with more fatalities.
It's very likely to be a respiratory virus.
What factors are contributing to the rise in Brisbane property prices?
You know, when I did the 2015 TED talk and articles around that, you know, it was about respiratory because that can get out so quickly. You're still healthy and you're on a plane or a bus and it could be bacterial infection. Most of those bacterial diseases aren't as difficult as the viral ones, but we need tools there as well. Scary thing is that the fatality rate could be 10 times higher than it was this time. In that sense, we got lucky.
If you've got a question that needs answering, you can email us at myrealestatepodcast at gmail.com. It's your real estate weekend podcast in review.
The darling city we've mentioned before on the podcast is Brisbane, which is the fastest growing capital city market in Australia over the past year with median house prices and unit prices hitting new records and resulting in an annual increase. by 32.1% and 9.3% respectively. Brisbane, really, it has waited a long, long time for this boom.
Is there a noticeable buyer hesitancy in the current market?
And when it came, it really arrived and made up for lost time, didn't it?
Look, absolutely. It really has been the property price boom Brisbane has been waiting for. It's actually the steepest upswing for Brisbane house prices in about 18 years and the steepest upswing in 14 years for units. We're seeing a similar trend in Brisbane in terms of houses outperforming units. So that's what we're seeing in many of our capital cities. But we are still seeing really strong selling conditions in Brisbane. And when you have a look at population growth, Queensland has got the highest annual rate of population growth. It's been really driven by
How does the upcoming election impact buyer behavior in real estate?
bolstered by interstate migration. And we're seeing lots of interest from interstate buyers into Queensland. When you have a look overall at inquiries from prospective buyers, over the March quarter, they were 37% higher compared to the same time last year. And 24, so almost a quarter of those inquiries came from interstate. So strong interest still in Brisbane. It's your Real Estate Weekend podcast in review.
Is it unusual then for, let's say, a Sydney to be slowing down and a Brisbane to still be marching on? I mean, you've been doing this for such a long time. Have you seen that in the past?
Look, it's very rare to see Sydney pull back and Brisbane go ahead.
What is the current mortgage stress level affecting the housing market?
But it's the migration towards Brisbane that's going to help it buck the trend.
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Chapters
7 chapters
1
What insights were shared about the current real estate market trends?
0:02–1:16
2
How is Brisbane's real estate market performing compared to Sydney and Melbourne?
1:16–2:06
3
What factors are contributing to the rise in Brisbane property prices?
2:06–3:12
4
Is there a noticeable buyer hesitancy in the current market?
3:12–3:51
5
How does the upcoming election impact buyer behavior in real estate?
3:51–4:36
6
What is the current mortgage stress level affecting the housing market?
4:36–5:10
7
What are the overall predictions for the future of the housing market?
5:10–9:32
Speakers
3 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