Property Investment & Wealth Creation Australia | The Michael Yardney Podcast

In today's episode, Alastair Lias, a seasoned property strategist shares his insights into the often-intimidating world of real estate, providing a guide on how to avoid common pitfalls and succeed in property investing. We dive into why a significant number of Australians abandon property investment within the first five years, and how savvy investors can break this pattern. We also discuss the roles of various property advisors and reveal who genuinely has your best interests at heart. Join us as we debunk property investment myths, emphasize the significance of quality over quantity, and explore the impact of confirmation bias on decision-making. Alastair Lias Unpacks the Biggest Mistakes Property Investors Make What are the most common mistakes property investors make? We'll explore that question, as well as how to choose a reliable property strategist and the importance of understanding the long-term nature of property investment in today's conversation. We also debunk the myth of 'get-rich-quick' schemes and stress the importance of making informed decisions. ● The importance of seeking advice from the right people who truly have your best interests at heart o Remembering whose side estate agents and property marketers are really on o What property strategists do ▪ A good property strategist doesn't predict the future, they help navigate it ● Separating what you can control from what you can't control ● Debunking the myth of the 'get-rich-quick' scheme in property investment ● The importance of understanding how advisors get paid to reveal their true intentions ● The critical role of unbiased advice in property investment ● Understanding the impact of confirmation bias on decision-making ● Importance of quality over quantity when it comes to property investments ● Different people at different stages of their property investment journey need different advice o Property investment is a long-term game, and it's smoother with the right team by your side ● The concept of confirmation bias and how it can lead to costly mistakes in property investment ● The importance of having the right people on your side when aiming to achieve wealth through property Investors must remember the importance of staying informed, considering personal circumstances before making decisions, and remembering that property investment is a long-term process, not a get-rich-quick scheme. With the right advice and understanding that property investment is a long-term commitment, investors can journey towards wealth through property with confidence. Links and Resources: Michael Yardney Alastair Lias – Senior Property Strategist Metropole Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get a bundle of eBooks and reports = www.PodcastBonus.com.au Some of our favorite quotes from the show: "There are no shortcuts, so free advice could cost you a fortune." – Michael Yardney "It's the quality of your properties, the return you get, and how hard your money works for you that's more important than how many properties you won." – Michael Yardney "Now I know there are a lot of challenges going on in the world and probably in your life personally, but you have the opportunity to decide your destiny." – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

Today I'm going to share 5 ways I'm going to ensure my property investments outperform in this new property cycle. As we work our way through the second half of this year and the recovery phase of the property cycle, it's typical to take a moment to reflect on the roller coaster ride of the past few years, digging deep into the treasure trove of lessons we've mined along the way. However, in this episode, I will take a somewhat different route. The episode delves into the crucial role of preparation for inevitable disappointments and property downturns. I'll explain the difference between expectations and forecasts. I'll be discussing strategies that have always worked, standing the test of time and outperforming fleeting trends. We'll prioritize sustainability over sensation and longevity over the limelight. Ensuring property investment outperformance My approach to achieving long term property investment success is rooted in time-tested principles, as well as having a long-term focus and a thorough understanding of the market. Take a look at the five key strategies that I employ to ensure the success of my property investments. Maintaining faith in the future, the real estate market, and our capitalist society, despite uncertainties and downturns It may seem easier to be pessimistic, but optimism is actually more realistic in the long-term Exercising patience, understanding that growing wealth through property investment is a long-term process that requires time and discipline The concept of delayed gratification will help keep you on track toward your goals. Upholding discipline, sticking to my strategic plan, even when the fruits of those decisions are not immediately visible Discipline means not making decisions based on your reactions to the most recent news. You're playing a long game, so stick to your plan Building a reliable team around me and acknowledging that property investment is a process not an event Remember that free advice is not necessarily good advice. Surround yourself with professionals you can trust I avoid making forecasts, but I have expectations based on past experiences, and of course, I don't tie them to a specific time frame These five strategies reflect an investment philosophy that emphasizes long-term growth, strategic planning, and continuous learning. Understanding these principles can significantly increase your chances of success in property investment. Links and Resources: Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us. We're much more than just another buyer's agent. Get a bundle of eBooks and reports – www.PodcastBonus.com.au Some of our favorite quotes from the show: "I confidently believe in the ability of our capitalist society to prosper on the back of our collective ingenuity." – Michael Yardney "I expect the property market is going to boom over the next couple of years and then prices will slump again – but I don't know when that will happen." – Michael Yardney "New habits will allow you to reach high levels of performance and achievement that enable you to get there." – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

I believe demographics are going to drive our property markets moving forward and that demographic changes, how many of us there are, how we want to live, and where we want to live are going to be more important over the long term than the short-term fluctuations caused by rising interest rates or government interference. That's why I enjoy my monthly chats with leading demographer Simon Kuenstenmacher. Today we're going to spend some time navigating the new normal as we talk about emerging property trends in the age of remote work. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Simon Kuestenmacher - Director of The Demographics Group Shownotes plus more here: Navigating the New Normal: Property Trends in the Age of Remote Work, with Simon Kuestenmacher

Today wealth-creation expert Tom Corley joins me to share valuable insights into the habits and strategies that distinguish wealthy people. We'll debunk common misconceptions about the rich, such as they don't pay their fair share of taxes or they are uncharitable. We're going to dive deep into his findings about these seven common money myths and discuss what truly sets the rich apart. Get ready to challenge your preconceptions about wealth, success, and the habits that foster them. Links and Resources: Metropole's Strategic Property Plan – to help both beginning and experienced investors Tom Corley's blog Get your copy of Rich Habits, Poor Habits here- www.RichHabitsPoorHabits.com Get your bundle of eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: Top 7 money myths about rich people, with Tom Corley

As we pass the midpoint of 2023, it's a good time to take a look at what's happened in the housing market so far this year and consider what could happen in the second half of the year. And joining me today is Dr. Nicola Powell, Domain's Chief of Research and Economics to discuss Domain's latest House Price Report uncovering the latest developments in property prices, demand/supply dynamics, regional disparities, and much more. Whether you're a prospective homebuyer looking for valuable insights, a seasoned investor seeking to navigate the market confidently, or simply curious about the current state of Australian real estate. Whether you're a prospective homebuyer looking for valuable insights, a seasoned investor seeking to navigate the market confidently, or simply curious about the current state of Australian real estate, I'm sure you'll get some great insights from my chat with Nicola. My conversation with Dr. Nicola Powell about the Domain House Price Report Today, Dr. Nicola Powell and I discuss the resilience and future of the housing market. We delve into property prices, supply and demand dynamics, regional disparities, and the influence of government policies. During our chat, we also address concerns about distressed listings and a potential property market crash, as well as share our predictions for 2023. ● The importance of perspective when reading the housing market data. o It's important to pair the data with other economic factors and other data sets to come to conclusions ● An overview of Domain's key findings o We've recouped about half of the $60,000 in median house price that was lost during the downturn ● Key drivers of housing market resilience ● Understanding why Adelaide and Perth avoid major downturns in house prices ● Analysis of the rise of distressed sellers and the risk of a property market crash ● Insight into Sydney's role in price recovery and the impact of job stability and wage growth on the market ● Evaluation of Southeast Queensland's latest house price report and Melbourne's housing market recovery ● Examination of Brisbane's unit prices hitting a record high ● The challenges that Hobart has faced ● Discussion on the influence of government policies on the property market, including land use reform and policies promoting affordability ● Prediction of the challenges for the property market in 2023 and advice on how to navigate it Links and Resources: Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Dr. Nicola Powell, Domain's Chief of Research and Economics Domain's latest House Price Report Get a bundle of eBooks and reports – www.PodcastBonus.com.au Some of our favorite quotes from the show: "Sellers are buyers and buyers are sellers, so if more sellers put their homes on the market, they're also going to be buyers out there as well." – Michael Yardney "The right time to buy is when you're ready, when your finances are ready, when it suits your family." – Michael Yardney "Calculated risks are risks you decide to take after doing your homework, after checking everything out." – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

One of the most influential books I read in the 1990's was Stephen Covey's 'The Seven Habits of Highly Effective People." It's a classic and a classic for a reason. The seven habits are really powerful things to build into your life. In a way, they're just common sense. Like "begin with the end in mind" or "put first things first" But the thing about common sense is it's just not that common. Not in practice anyway. So in today's episode, I delve into Stephen Covey's renowned Seven Habits of Highly Effective People with Mark Creedon, founder of Mastermind Business Accelerator. If you want to become more successful as a property investor or business person, or just in life in general I'm sure you got to get some gems from my chat with Mark Creedon today as we unpack the this personal development classic. What we learned from Stephen Covey's Seven Habits of Highly Effective People Proactivity and its relevance to property investors and business people. Learning to take responsibility for one's reaction to one's own experiences and take the initiative to respond positively and work for improvement. Beginning with the end in mind: setting clear goals for your future. Determining what you want is necessary in order to work and plan toward it. Prioritizing: putting first things first. Learning to distinguish between what's important and what's urgent. Building successful relationships by thinking in terms of win-win. Valuing and respecting others will lead to better outcomes. Understand others to be understood. Empathetic listening to others not only ensures that you'll understand them better but also prompts them to do the same for you. Understanding synergy to create a whole greater than the sum of its parts People are stronger together, and through positive teamwork, you can unlock improved outcomes Devoting regular time to self-renewal Putting in the time to renew yourself physically, spiritually, mentally, and socially makes you a more well-rounded individual. Links and Resources: Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Why not join Metropole's Mastermind Business Accelerator Learn more about Mark Creedon – Business Coach to some of Australia's leading entrepreneurs Get a copy of Mark's new book here – Have a Business, not a Job Subscribe to Mark's Mastermind for Business Podcast here Get a bundle of eBooks and reports – www.PodcastBonus.com.au Some of our favorite quotes from the show: "If other people have achieved success, there's no reason why you can't, and why not look for a shortcut about the way they think, about the way they do things, about how they go about their lives?" – Michael Yardney "I think in many conversations people don't really listen. They're waiting for a break in the conversation so they can continue on with their discussion, their argument." – Michael Yardney "What I'm trying to say is fear does have some uses because it actually lets you know that you're alive." – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

Today's discussion revolves around a topic that's creating shockwaves throughout Australia – the rental market crisis. With rental vacancy rates at historic lows and the costs of renting a property skyrocketing, many Australians are finding it difficult to secure stable, affordable housing. The consequences of this situation are far-reaching, affecting everything from mental health to workforce stability, from family stability to the broader economy. To help dissect these complex issues, I'm joined by Brett Warren, National Director of Metropole Property Strategists, who brings a wealth of experience and insight to our discussion. Overview of my chat about the rental market crisis in Australia with Brett Warren ● What the Australian Bureau of Statistics data says about how many houses there are in Australia and the composition of them. ● The effects of the rental crisis on tenants ● Examination of the impact of the crisis on the economy, mental health, and workforce stability ● Analysis of the challenges in the housing and rental market due to rising population and falling accommodation ● Discussion on the role of rising interest rates, over-regulation, and media influence in the property market ● Government interference in the market and the need for strategic investment planning ● The importance of long-term expectations, rather than forecasts, in shaping success in property investment ● Analysis of challenges in the housing and rental market, including overseas migration and lack of accommodation While the current property market might not be attractive for investors right now, it's important to remember that property investment is a long-term game. Don't try to time the market or hunt down bargains. Instead, focus all your efforts on buying an investment-grade property in an A-grade location that will hold its value in the long term. Remember, the rental crisis is only worsening further, with no end in sight. Now would be a great time to buy an investment property and enjoy high demand while trying to be a part of the rental crisis solution. You may even inspire others to do the same. Links and Resources: Michael Yardney Brett Warren – National Director Metropole Property Strategists Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get a bundle of eBooks and reports = www.PodcastBonus.com.au Some of our favorite quotes from the show: "In other words, the government isn't even trying to help tenants." Michael Yardney "But in fact, a lot of Australians rent just because they choose to. It's the stage of their life." Michael Yardney "Successful people have this empowering belief that they're responsible for what they make of any given situation." Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

In these regular Big Picture podcasts, Pete Wargent and I discuss the macroeconomic factors affecting your economy and our property markets, and a lot has happened since our last show a month ago. As one of Australia's most respected financial analysts and commentators, Pete brings his invaluable expertise to help us navigate the ever-changing landscape of the Australian property market. ● A lot of economists have changed their predictions since the last rate hike ● The impact of the Reserve Bank's interest rate decision and new Governor Michelle Bullock's appointment ● Discussion on the surge in property listings, especially in Perth, Adelaide, and Queensland, and speculation on whether this is due to investors capitalizing on market shifts or facing financial troubles ● Analysis of the sluggish property price growth despite the rise in rent prices, and the effects of borrowing capacity and housing stock efficiency ● Exploration of urban redevelopment and housing construction issues, including the price gap between houses and units, potential pitfalls of new developments, and merits of older apartments ● Examination of the role of population growth on infrastructure and the economy, covering immigration's influence, changing demographic pyramid, and future challenges like lack of infrastructure and transport access ● Detailed discussion on the changes at the Reserve Bank, exploring the Bank's interest rate decision, increase in property listings, slowing growth of rentals, and widening gap between houses and apartments ● Deep dive into the fragmented Australian property market, analyzing the surge in listings, slow property price growth despite the rise in rent prices, and impact of borrowing capacity ● Discussion on urban redevelopment and housing construction issues, touching on aspirational suburbs, widening price gap between houses and units, and potential issues with new and existing developments ● Exploration of population growth's impact on infrastructure and economy, discussing immigration's role, changing demographic pyramid, and potential future challenges. Links and Resources: Metropole's Strategic Property Plan – to help both beginning and experienced investors Get a bundle of free reports and eBooks – www.PodcastBonus.com.au Pete Wargent's blog Some of our favorite quotes from the show: "I'm happy that it's slowing a bit because if we do have boom time conditions, that means this particular cycle will be a lot shorter." Michael Yardney "Look where people are moving, look where the money is going, and that's a combination of the locals and the millennials in particular who are now moving out of apartments into family formation states." Michael Yardney "And, by the way, don't compare yourself with other people, because the things you see on Instagram and Facebook aren't real." Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

There were some significant changes regarding the RBA recently. Philip Lowe's term as Reserve Bank governor was not renewed which means he's been effectively sacked as Reserve Bank governor's current Deputy Governor; Michele Bullock will become Governor starting 18 September. Regular listeners would know that I record a weekly video with Dr. Andrew Wilson, and this is the audio of last week's Property Insider video. So, let's hear what Andrew Wilson has to say about the sacking of Dr. Phillip Lowe. Andrew will also be discussing some of his latest data and if you are keen to see the charts, I will leave a link in the show notes so you can see them. Today Dr. Wilson,delves into the intricacies of housing markets, bank policies, and the effects of recent changes at the Reserve Bank. Topics discussed include data on property trends across capital cities, the impact of the Reserve Bank of New Zealand's macro-prudential policies on the housing market, the trend of no interest rate changes despite a weakened economy, and the potential implications of the post-COVID stimulus package on inflation. The episode also evaluates the performance of housing markets in specific regions, discusses current market trends, and provides an outlook on the property market and its likely trajectory. In today's show we discuss… ● Analysis of Reserve Bank Governor Philip Lowe's mistakes and lessons for Deputy Governor Michelle Bullock o There was a misplaced obsession with the housing markets o The RBA supported "experimental" macro prudential policies between 2015 and 2018 which led to the supply side challenges their property markets are currently experiencing as well as skyrocketing rents. o Interest rates were kept on hold in 2016 - 17 despite a weakening economy when many jobs were being lost as the RBA didn't lower rates as it was still concerned about our housing market. o However, interest rates will slash in the second half of 2019. o Under Dr Lowe's watch bank margins rose significantly with some suggesting they were gouging on the changing rates, even though this isn't really under the RBA control. o Who can forget the post-COVID message "There will be no rate rises until 2024", which led many homebuyers and investors to take on significant borrowings at artificially low interest rates. o Dr. Lowe has a poor record of delivering forecasts of house prices, wage growth, and our labor markets. o There have been a number of recent inconsistent policy determinations. o Critique of the Reserve Bank's consistent misses on house price forecasts and mysterious policy determinations ● Dr Wilson gives an overview of the housing markets in the various sub regions of Sydney and Melbourne and Brisbane ● We get a snapshot of the current winter market trends and auction results around Australia ● We discuss the property market outlook and why house prices won't fall despite increased stock and slower rent growth Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Dr. Andrew Wilson, Chief Economist My Housing Market Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info Get your bundle of eBooks and reports at www.PodcastBonus.com.au Some of our favorite quotes from the show: "So under Michelle Bullock's watch, inflation is going to come under control, interest rates are going to come under control and she'll probably be a little bit more popular." – Michael Yardney "Maybe agents are a little bit lazy in Brisbane because they're not used to the auction culture, and they can sell almost anything they list at the moment anyway." – Michael Yardney "So for most of us, morning is when your brain is charged and ready to make the tough decisions that require a lot of brain power." – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

Welcome to the Michael Yardney Podcast. Today I'm thrilled to have Nicola McDougall, chairperson of PIPA as my guest and we're going to discuss how our property markets have become a political play toy. There's a lot to unpack, and it's crucial for investors to understand the implications of the increased interference in the markets. We'll also discuss the latest ATO statistics showing how many property investors are in Australia and how many properties they own. And you'll hear how more and more investors are thinking of jumping ship. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Join us at Metropole Brisbane Charity Ball to support Hummingbird House - click here to reserve your spot Get your bundle of eBooks and reports at www.PodcastBonus.com.au Nicola McDougall – Chairperson PIPA Shownotes plus more here: Politics and Property Navigating the Changing Landscape of Investment