The Elephant In The Room Property Podcast | Inside Australian Real Estate

With Australia being prone to natural disasters, you’d think that most homeowners would be more proactive in building disaster resilience. Unfortunately, according to a Climate Council report, the country is facing an ‘insurability’ crisis with one in 25 homes on track to be uninsurable by 2030. 83% of Australian properties are also underinsured.  …And inflation and the rising costs of building and insurance aren’t making things any easier for property owners. Marty Sadlier, director of MCG Quantity Surveyors, joins us today to talk about Australia’s underinsurance problem–what are the factors that are worsening the situation and what is your responsibility as a property owner? If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au! See you in the episode!   Episode Highlights: Environmental factors that affect property insurance [02:09] How much should you insure your property for? [11:13] Ways you can be underinsured [15:01] A solution to Australia’s widespread underinsurance issue [23:36] Rising cost of building infrastructure [30:51] Problems in the building industry [37:38] Buyer’s borrowing capacity and responsible lending [41:16] Australians’ short-term memory [44:10] The real cost of mandatory inspections [45:52] The responsibility of the property owner [53:57] What are the things that people don’t realize are not covered by insurance? [56:56] Marty’s Property Dumbo [01:00:22]   About our Guest: Marty Sadlier has over 20 years experience in the building and construction industry, commencing his career as a shop fitter/carpenter. He is a RICS certified expert witness, a Certified Quantity Surveyor (CQS) and sits on the interviewing panel for Australian Institute of Quantity Surveyors (AIQS).   Links from the show: Episode 164 | Australia’s underinsurance epidemic: 83% underinsured!?(https://www.theelephantintheroom.com.au/podcasts/164)   Connect with Us: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au  Send in your questions to: questions@theelephantintheroom.com.au    Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/251   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

It is no surprise that the apartment lifestyle is gaining more popularity among many Australians nowadays. Amid the housing affordability crisis, a strata title property poses as a more convenient and affordable alternative to home ownership and property investment. The catch?  Prospective buyers often have no idea of the information they need prior to purchasing. Amanda Farmer, strata lawyer and the host of Your Strata Property podcast, joins us today to talk about what property buyers should expect from buying into a strata complex, from villa units to townhouses.  We discuss everything strata owners wish they knew prior to their purchase–the rules in a strata complex, building repairs and maintenance, the strata committee and their functions, and more! If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au! See you in the episode!   Episode Highlights: The number of owner occupiers and tenants in a strata complex [02:10] Repairs and maintenance of the common property [08:33] Rules strata owners need to comply with [14:43] The two stages in the conveyancing process [22:50] Strata committee: who are they and what power do they have? [26:17] The affordability of apartment living [31:25] What strata owners wish they knew before purchasing [35:21] The new New South Wales builder rating system  [34:45] Checking your unit entitlement [45:28] Sustainability infrastructure in apartments [48:25]   About our Guest: Amanda Farmer is a strata lawyer and the host of Your Strata Property. As a Fellow and Council Member of the Australian College of Strata Lawyers, Amanda advises and represents owners, buildings, developers, strata management companies and local councils.   Links from the show: Your Strata Property (https://yourstrataproperty.com.au/) Your Strata Property Podcast (https://apple.co/3elgPpo)  Episode 25 | What hidden dangers can lurk in brand new apartments?  (https://www.theelephantintheroom.com.au/podcasts/025) Episode 103 | Strata owners - rights & obligations (https://www.theelephantintheroom.com.au/podcasts/103) Episode 151 | The Supreme Court’s pet showdown on strata property by-laws (https://www.theelephantintheroom.com.au/podcasts/151)   Connect with Us: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au  Send in your questions to: questions@theelephantintheroom.com.au    Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/250   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Is there some truth to the recent ominous forecasts surrounding the Sydney property market? Or is it simply just fear-mongering? Today, Matt Hayson, real estate agent and co-founder of boutique agency CobdenHayson, joins us to discuss what is actually going on in the Sydney property market… Is it only apt for property investors to be alarmed?  We also talk about current issues with vendors as well as buyers, data lag issues, what dominates the market at the moment, and various principles that are not just limited to the Sydney property market. If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au! See you in the episode!   Episode Highlights: The recent data lag around pricing [02:42] How big has the shift gotten in housing pricing?  [05:08] The expectations on buyers versus vendors [10:48] Uncertainty and volatility of the housing market [13:05] Sentiment as a major driver of life decisions [17:59] Observations about open houses [19:16] What makes a property sell at auctions despite poor market conditions?  [23:46] Difficulties in both buying and selling property today [31:42] Comparing the property market in 2018 to today’s [35:08] Buyers who pay for overpriced property [39:18] The future of real estate agencies [44:23] Making the right decisions according to your timeline [50:51]   About our Guest: Matthew Hayson is the founder and co-director of CobdenHayson, a progressive independent real estate network with unprecedented knowledge of Sydney's inner urban property market. With almost three decades in local real estate, Matthew is one of the most experienced and consistent sales agents across Sydney.   Connect with Us: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au  Send in your questions to: questions@theelephantintheroom.com.au    Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/249   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

The housing affordability crisis in Australia is putting immense pressure not only on home buyers and owner-occupiers but now on renters as well... Is the solution to Australia's property woes really just to build build build? In this episode, Chris Leishman, professor of Property and Housing Economics, joins us to talk about the current housing and rent affordability crisis… How should our policymakers address this worsening issue in the housing market? We also discuss the state of declining economic productivity, possible policies and plans for social and public housing, and what millennials think of owning housing assets. If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au! See you in the episode!   Episode Highlights: The worsening rental affordability crisis [02:37] The future of working from home [06:46] How to model housing need [11:50] Is the supply shortage the main problem behind the affordability crisis? [14:08] The practicality of implementing the vacancy tax [21:24] Will a reverse mortgage be helpful? [23:55] The dispensability of properties in Australia [27:05] The state of Australian productivity [31:24] How to move forward with public housing [38:45] Long-term solutions for the housing crisis [43:23] Will higher interest rates slow down inflation? [52:22] Chris’ property Dumbo [56:02]   About our Guest: Chris Leishman is a professor of Property and Housing Economics at the University of South Australia. He is also a non-executive director of Housing Choices Australia – a not for profit community housing provider active in South Australia, Western Australia, Victoria, New South Wales and Tasmania.    Links from the show: Chris Leishman https://people.unisa.edu.au/christian.leishman#Outputs Housing Choices https://www.housingchoices.org.au/about-us/   Connect with Us: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au  Send in your questions to: questions@theelephantintheroom.com.au    Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/248   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Suburb Help is back and in today’s episode, we talk about the top ranked streets in the suburb! Whether you’re a prospective buyer or a home-owner thinking of selling, knowing the street’s value range can help you make informed decisions about your property investment.  Our resident data geek Kent Lardner has got you covered with his latest report on the top streets in the suburb for yield.  We look at both the best and worst streets in five suburbs–Newport, Newtown, New Lambton, Balmain, and Coogee. Aside from the methodology of Kent’s analysis, we also discuss its limitations and how human behaviour comes into play.  If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au! See you in the episode!   Episode Highlights: Top Streets Report: the methodology and limitations [01:04] The best streets’ turnover rates [04:33] Compositional bias in the suburb [10:52] The problem with machine learning in inventory forecasts [15:10] The value of the human element [19:13] Newport: The best and worst streets [22:19] Suburb report on Newtown [32:31] Understanding the zoning in New Lambton [39:04] Balmain: The best and worst streets [44:29] The challenge with investing in Coogee [50:55] Where to download the Top Streets report [50:26]   About our Guest: Kent Lardner is a data science and business leader with over 30 years experience working for companies such as JLL, CoreLogic and General Electric. He has a passion for digital high growth businesses and has led teams of 5 to 200 people in both Australia and China.   Links from the show: Suburb Help (www.suburbhelp.com) Suburb Trends www.suburbtrends.com.au   Connect with Us: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au  Send in your questions to: questions@theelephantintheroom.com.au    Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/247   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Although rarely proven to come true, predictions by big banks are not merely speculative, but forecasts backed up by research and data… But how exactly do bank economists come up with these property forecasts? Felicity Emmett, Senior Economist at ANZ, joins us today to reveal the process big banks use to create housing market predictions based on the Australian economy… What data and key inputs do bank economists use for forecasting and analysis?  We also discuss the impact of property market forecasting on consumer confidence, the relationship between inflation and interest rates, and the current housing affordability crisis.  If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au! See you in the episode!   Episode Highlights: Why do big banks create property forecasts? [01:39] Challenges bank economists encounter with forecasting [03:46] Inputs into the forecasting process for the housing market [07:01] The impact on house prices on consumer confidence [13:35] The relationship between inflation and interest rates [19:29] Consumer confidence in the property market [24:17] The effect of capacity constraints in the economy [28:24] Why it’s important to keep inflation down [32:30] The current housing affordability crisis [34:20] The effects of regulatory changes [38:42] Who is the vulnerable sector in a possible recession? [44:00] Stimulus measures to stabilize prices [48:08] Why makes forecasting difficult to achieve accuracy? [50:36]   About our Guest: Felicity Emmett is Senior Economist in the Australian Economic team at ANZ. With more than 20 years of experience as an economist in financial markets, Felicity is responsible for analysis and forecasting of key Australian macroeconomic indicators, as well as thematic research on the Australian economy. She also provides specialist analysis on topical issues, including the housing sector and the policy outlook.   Connect with Us: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au  Send in your questions to: questions@theelephantintheroom.com.au    Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/246   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

When you’re looking for the “perfect” house, you also factor in the neighborhood it belongs to—the living environment, the people, the amenities… Your relationship with your urban environment significantly affects your life. …So what can you do to help contribute to creating a sense of community in these shared spaces? Kylie Legge, the founder and CEO of placemaking consultancy Place Partners and innovative data insights company Place Score, joins us today to discuss the role of the community in urban planning and design.  We talk about the diversity of communities and their needs, placemaking as a collaborative process, the role of smart cities in improving society, and whether urban renewal is the right approach going forward. If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au! See you in the episode!   Episode Highlights: How community builds the community [02:03] What is placemaking? [04:32] Densifying neighborhoods as an opportunity [13:20] Building an ideal neighborhood [16:18] The role of councilors in urban planning [22:31] Making your own environment more livable  [26:47] Building Place Score’s credibility [33:15] Kylie Legge’s journey into placemaking as a field of work [39:22] Exploring the diverse cultures of different communities [44:56] Managing rate increases to increase livability [48:41] Place Score’s 2022 Liveability Census [54:44]   About our Guest: Kylie Legge is the founder and CEO of placemaking consultancy Place Partners and innovative data insights company Place Score. She is passionate about fostering the connection between people and their urban environments and finding better ways to work together in improving shared spaces.   Links from the show: Place Score https://placescore.org/elephant    Connect with Us: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au  Send in your questions to: questions@theelephantintheroom.com.au    Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/245   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Due to rising property prices, rent hikes, plummeting vacancy rates, many Aussies are now at risk of being homeless. Homeowners and investors may think they're immune, but are we really safe from the ripple effect? Michele Adair, CEO of Housing Trust, joins us today to discuss the worsening housing affordability crisis... What long-term impact does this issue have on our society and how will this affect our lives–regardless if you’re a homeowner? We also look into the pressure of rising rent on lower income households, the current situation in the Illawarra, COVID-19’s impact on homelessness as well as its correlation to our current labour crisis.  If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au! See you in the episode!   Episode Highlights: The real situation in the Illawarra [02:07] How has the profile of people facing homelessness changed? [07:44] The effect of rising interest rates on investors [09:43] Finding a win-win solution to the housing crisis [17:39] The role of community housing providers [20:34] Why has the government failed to address the housing problem? [24:55] How can the build to rent sector alleviate the housing crisis? [34:03] The need for change in social attitudes [42:32] The REAL cost of the housing affordability crisis [44:31]  What role do councilors play? [51:16]   About our Guest: Michele Adair is the CEO of Housing Trust, an organization that builds and manages affordable rental housing for people on very low to moderate incomes. Michele has Master’s degrees in Management and in Public Advocacy & Action, and is a Graduate of the Australian Institute of Company Directors. She was also recognised as the Outstanding Business Leader in the 2021 Business Illawarra awards.   Links from the show: The Elephant in the Room | Episode 66 https://www.theelephantintheroom.com.au/podcasts/066 The Elephant in the Room | Episode 191 https://www.theelephantintheroom.com.au/podcasts/191 Housing Trust (https://www.housingtrust.org.au/) Power Housing (https://www.powerhousingaustralia.com.au/about-us/) Community Housing Industry Association (https://www.communityhousing.com.au/) CHIA NSW (https://communityhousing.org.au/) CHIA Vic (https://chiavic.com.au/) CHIA Queensland (https://www.communityhousing.com.au/chia-queensland/)   Connect with Us: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au  Send in your questions to: questions@theelephantintheroom.com.au    Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/244   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

With interest rates, mortgage debt, and housing prices rapidly surging, many Australians wonder whether and when the bubble is going to burst… The question is: how can property remain affordable without causing a price crash, especially when two-thirds of the population are owner occupiers? Known critic of modern economic theory Steve Keen joins us today to reveal everything mainstream economists get wrong about the property industry. He shares his insights on the possibility of a property crash and how first-home owners might be vulnerable. We also discuss the rising level of household debt, what it can ultimately result in and how the government can intervene. If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au! See you in the episode!   Episode Highlights: What Economics professors get wrong [02:36] The determinant of change in property prices [06:16] On measuring household debt [09:01] Why first-home buyers are vulnerable to rising debt [14:09] What can trigger a price crash, aside from a debt crisis? [18:50] How the government can stimulate property demand [20:27] Getting inflation under control [23:56] The possibility of a property crash in Australia? [28:45] Steve’s Senate election pitch: money creation [32:59] The need for a modern debt jubilee [35:37] The current state of consumer confidence [38:14] The issue with government debt [40:44] Sustainable long-term solutions to housing [53:54] The economic impact of climate change [57:34]   About our Guest: Steve Keen is a heterodox economist and an author. His two most famous books, Debunking Economics and The New Economics, are both critiques of modern economic theory that discuss debt deflation and financial instability. Dr. Keen was a professor at the University of Western Sydney and Kingston University in London. Now, he is leading the development of Minsky, a software platform for visually modeling national economies.    Links from the show: Steve Keen TNL Housing Policy: https://bit.ly/3PvH1dn  House prices to fall 40%. Prof Keen says RBA is 'brain dead': https://bit.ly/3T4JHBY  Steve Keen's Debtwatch: https://bit.ly/3QS7gvz  Steve Keen’s Profile: https://www.keenforthesenate.com/    Connect with Us: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au  Send in your questions to: questions@theelephantintheroom.com.au    Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/243   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

What is a “trusted agent”? …And do they even exist in this age of readily accessible information?  Sean Scoffield, the host of The Trusted Agent Podcast and the National Sales Manager of RESO – a digital real estate sales platform – joins us today to talk about the evolving role of real estate agents… Are they getting better or worse?  We discuss the factors that make a real estate agent “trustworthy”, how AI does some things better than agents, buyers’ perceptions of agents, and whether or not agents are becoming obsolete.  If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au! See you in the episode!   Episode Highlights: Identifying a ‘trusted’ real estate agent [04:14] Agents’ edge against technology [07:19] Understanding the role of real estate agents [13:20] Why buyers don’t trust real estate agents [17:53] The problem with untrusting buyers [19:06] How AI provides buyers with transparent offers [22:47] Transparency isn’t always a good thing [28:44] Are people missing out on a good market? [34:45] 5 signs of an agent you can trust [39:04] How agents can beat the rise of AI in real estate [44:48] Sean’s property Dumbo [46:23] Avoiding settlement risks [50:26]   About our Guest: Sean Scoffield is the host of The Trusted Agent Podcast. He is also a Business Consultant, currently working with Real Estate Principals, Sales Agents and Property Managers helping them form stronger connections with their Team, their Clients and their overall Mission & Purpose.   Links from the show: The Trusted Agent Podcast (https://apple.co/3vWPU8T) Reso Website (https://reso.com.au/)    Connect with Us: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au  Send in your questions to: questions@theelephantintheroom.com.au    Find this episode on our website: https://www.theelephantintheroom.com.au/podcasts/242   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.