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

At the end of 2021, the media ran many stories on a market downturn. The problem is, there never seems to be any middle ground with property headlines. It's always either boom or doom.  What sparked these gloomy headlines? Is the property market really experiencing a downturn? And what does this mean for sellers and buyers in 2022?  To gain clarity, we’re joined by Meighan Wells of Property Pursuit and Jarrod McCabe of Wakelin Property Advisory. We discuss our outlook on the Melbourne and Queensland property markets, if we should focus on the right time to buy or the asset, and how to best prepare for buying in 2022. If you enjoy 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 Melbourne property market after its sixth lockdown [2:19] Clearance rates in Melbourne at the tail end of 2021 [6:27] Seasonality, short auction campaigns and the COVID-factor in the Brisbane property market [8:10] The Queensland relocation trend and its effect on property prices [12:13] Why are rental values in Queensland increasing? [17:22] The best time to run auction campaigns in Melbourne in 2022 [24:49] The best time to buy and sell in Queensland in 2022 [29:47]  Outlook for Australian property markets in 2022 [37:54]  Should you focus on buying at the right time over the right asset? [42:59] How to get ready for buying property [47:52]   Link from the Show: Your First Home Buyer Guide Episode 40: How Can You Identify A, B, and C Grade Properties?   About Jarrod: Jarrod McCabe is the Director of Wakelin Property Advisory. With more than two decades of valuations and investment experience under his belt, Jarrod never fails to deliver for his clients. He is also a passionate property investment educator who actively delivers webinars and seminars and contributes to media sources.    About Meighan: Meighan Wells is the Principal of Property Pursuit and co-founder of the Home Buyer Academy. She is also the co-presenter of Your First Home Buyer Guide Podcast. Her excellence, hard work and ethics have earned her multiple awards and a growing list of satisfied clients over the years.    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/211 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 COVID-19 pandemic brought ten years of changes in just one year, and there’s no doubt that 2021 has been a wild ride. That being said, how can buyers, investors, agents, and sellers best prepare for the differences in market trends for the years to come?  In this episode, we have Cameron Kusher of REA Group to share unique and valuable insights about the property market and what people can learn from 2021, the potential use of AI in the market, the impact on property of working from home, and more!  If you enjoy 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’s been happening at REA Group in the last two years [02:06] Signs at the beginning of 2020 that pointed to the property market boom [03:02] Is the ‘second home phenomenon’ sustainable? [05:15] How many people in the search data will actually buy a property? [07:29] The potential use of AI in property market data [15:10]  What is going on in the Australian property market in terms of inquiry data? [16:58] The affordability drive [21:39] Will there be abatement in the rising of property prices? [22:51] Common filters people use when searching for properties [25:38] Factors that are holding investors back [31:46]  Rentals in Australia [34:07] Looking into the changes in regional search activity [38:41] Measuring the popularity of a listing [40:31] The impact of working from home in the property market [44:09] What buyers and sellers need to look into in 2022 [45:49]  Cameron’s Property dumbo [50:49]   Link from the Show: Locked Down But Not Out: Investors stage 2021 market comeback   About Cameron: Cameron Kusher is the Executive Director of Economic Research at REA Group. He has worked in several areas of the property sector throughout his career and has more than 15 years’ experience working as a property market analyst in both the residential and commercial fields.   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/210   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Not every suburb is worth buying property in. Sure, sometimes data may suggest otherwise, but those “top 10” lists don’t really tell you everything. Aside from the market trends and forecasts in the real estate industry, you also have to check crime statistics - no one wants to live in an area where people live in fear! So, how can you evaluate and analyze data (including crime statistics) so you’ll know which suburbs to avoid? Today, we have Suburb Trolls’ Kent Lardner & Mike Mortlock for a lighter chat about what impacts property prices. We also talk about identifying the suburbs to avoid just by looking at the news, crime statistics, and real data. If you enjoy 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: Taking a look at the crime statistics [02:58] What constitutes a crime? [05:34] Measuring the underquoting index of a suburb [09:10] Kent and Mike’s learnings about suburbs, which they didn’t know before [12:05] Sh*t towns of Australia [14:14] The bogan-ometer and the bogan factor that’s good for property prices [19:00] Do buyers avoid housing commission areas (a.k.a. social housing) [26:29]  Where do the robbers come from? [28:35] The truth behind well-regarded publications and their “top 10 lists” [32:44] Will Suburb Trolls keep pushing forward? [36:23] Suburbs that have both the high & low end of the same data set [42:30]  Mike’s property dumbo [50:29]   Links from the Show: Sh*t Towns of Australia by Geoff Rissole and Rick Furphy   About Mike & Kent: Mike Mortlock is the Managing Director at MCG Quantity Surveyors, Australia's fastest growing QS firm and one of Australia's top 100 fastest growing companies (AFR Fast 100). He’s also a co-host of the Suburb Trolls podcast, and host of the Geared for Growth Property Investing Podcast. Australia's most poorly produced, unbiased, conversation based podcast. 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.   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/209   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 it comes to negotiating to buy a property, most people are at a disadvantage and sometimes, they’re not even aware of it. If you don’t know how to distinguish whether or not you have the upper hand, how will you know that you’re actually getting a mutually beneficial arrangement? Today, Todd Sloan of the Pizza & Property Podcast joins us to talk about the techniques and tricks of negotiating, knowing where to start a negotiation on pricing, seller’s tricks you should watch out for and heaps more! If you enjoy 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: Can a buyer outsmart an agent? [02:05] The effects of market conditions on a negotiation [04:12] What real estate agents know that buyers don’t [06:00] Should you change your negotiation techniques for each agent? [09:42]  How do real estate agents create urgency when selling property? [13:06] The auction reserve price [16:49] Knowing what and what not to say to buyers [20:53] Knowing where to start a negotiation when it comes to pricing [25:55] Digital options are getting some traction! [30:00] Does writing a personal letter help? [31:43]  What buyers do that don’t help them in making offers [36:21] Do agents care if the buyers are telling the truth? [40:22] Seller’s tricks that buyers should be on the lookout for [44:17] The competitive advantage of an agent [46:07] Why rapport building is important in real estate [49:32] Todd’s property dumbos [52:47] Setting limits to what the buyers can spend [57:49]   Links from the Show: Visit Pizza & Property Podcast Learn more about Todd Sloan on Timms Real Estate   About Todd: Todd Sloan is an award-winning real estate sales agent, professional renovator and host of one of Australia’s fastest growing property investment podcasts, Pizza & Property. He’s involved in more property transactions every month than most people see in a lifetime and uses his useful and unique perspective to bring home buyers quality property information in a fun and friendly way.   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/208   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

In the housing market, buyers have been taught that it’s essential to rely on data when making decisions. But the truth is, property data can be presented in ways that don’t exactly tell the full story.  Sure, the statistics presented to you by “experts” may be real, but are they used correctly or are they “spin” created just for profit? In this Suburb Trends episode, Kent Lardner and I talk about the proliferation of the use of misleading property data, the different ways to measure the housing market, the dangers of relying on numbers without knowing the context, and more! If you enjoy 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: Kent’s learnings about data and how it’s being used in some quarters [01:13] Using & misusing property data in a number of ways [03:01] Local specialists and data-driven buyer’s agents [04:15] A look at misleading data [05:04] What is the role of a buyer’s agent? [06:47] Misuse of data to support a “buy, buy, buy property” model [11:36]  Measuring the same factors four different ways in the housing market [14:05] How can data be manufactured to create a market that shouldn’t exist? [21:23]  Is it dangerous to outsource data-driven decisions? [26:13] What are the weaknesses of local buyer’s agents? [30:41] The truth about the rise of the property expert [37:46] How to value an individual property [40:12] The pros & cons of young people entering the housing market [42:19]  Creating fancy infographics with misleading data [47:36]    Links from the Show: How to Lie with Statistics   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/207   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Buying property can be difficult for a number of reasons, one of which is the partial disclosure of information or withholding of data from a strata report. But why is this prevalent and what barriers prevent buyers from being fully informed about a property before they purchase it? Who ultimately decides what information can be accessed before buying a strata property? Today, Dr. Nicole Johnston of Deakin University tackles the issue of inequity in the property buying process, specifically around multi-owned property, whether or not the law helps protect consumers in this area, what a good strata report looks like, levies, and heaps more! If you enjoy 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 are you actually buying into when purchasing an apartment? [02:38] The concept of “buyer beware” & vendor disclosure [05:37] Is the legislation descriptive enough for buyers to make good decisions? [12:21]  Understand what a good strata report is from a bad one! [19:57] Why do owners corporation managers withhold information? [20:46]  How can you decide if you don’t understand the information presented? [24:27] Are low strata levies actually a good thing? [27:01] Do strata managers have standards for record-keeping? [30:21] The importance of having records to peruse before buying [35:29] Sellers are obligated to verify their own property’s data report [38:52] When owners corporations DON’T list down property issues & decisions [41:21]  Common questionable practices off-the-plan buyers can fall into [46:26] Not all contracts or agreements protect the buyer [53:08] Nicole’s property dumbo [54:36]   About Nicole: Dr. Nicole Johnston is a Senior Lecturer in the Department of Finance in Deakin Business School and a socio-legal researcher focusing on multiple aspects of multi-owned properties (strata title, condominium, apartments) including governance, conflicts of interest and legal relationships.    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/206 If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

A property boom is great for those who are already in the market - but is it really?  Today, we’re joined by Eliza Owen, Head of Residential Research Australia at CoreLogic. We explore the answer to questions like, “What risks are rising prices masking?” and talk about F.O.M.O., whether or not having two homes is immoral, the wealth effect, the highlights of the recent Pain and Gain Report, and more! If you enjoy 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 is happening across the country in terms of property prices? [02:07] Hobart: Defying common knowledge on population & wages [05:53] Displacement by sea & tree changers & investors in regional areas [08:56] Is it immoral to have two homes & practice borderless investing? [10:20] What will happen once the mass exodus to regional areas ends? [14:01] It is somewhat intentional that house prices are rising! [18:54] Exploring the “wealth effect” [19:39] Is the Australian property market too big to make it affordable? [22:34]  The issue with demand and buying assets that will decrease in value [25:52] What the ABS report says about the property most first home buyers go for [27:21] Some interesting highlights from the recent Pain and Gain Report [28:35] Factors that contribute to an extreme win (profit) [35:04] Eliza’s take on making housing more equitable in Australia [38:26] The local initiative to provide housing solutions [43:52] Eliza’s property dumbo [45:53]   Link/s from the Show: CoreLogic: Australian Rents Increase at Fastest Annual Rate Since 2008 CoreLogic: Australian Vendors in the Auction Box Seat Despite Lockdowns   About Eliza: Eliza Owen is the Head of Residential Research Australia at CoreLogic. She has a wealth of experience in property data analysis and reporting. Eliza worked as an economist at Residex, a research analyst at Domain Group and previously as the commercial real estate and construction analyst at CoreLogic. Eliza is passionate about economics, and is a popular keynote speaker, having presented to thousands across the real estate, finance and construction sectors.   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/205   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Property prices rise more rapidly in some suburbs than others and it makes one wonder - what could be behind this movement? Is it purely due to established properties in the area being in high demand, or do building projects & renovations have a hidden impact on price growth? Today, we’re joined by our resident geek Kent Lardner for this month’s Suburb Trends episode! He takes us through his research on the impact renovations have on price growth data, where the ABS renovation values come from, the Gold Coast hinterland’s growth anomaly and more! If you enjoy 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: Kent’s approach on researching the impact renovations have on price growth [01:09] What else drives median prices? [02:59] Renovation costs go beyond the renovation itself [04:31] Where do the ABS renovation values come from? [06:24]  A deeper look at the growth data in certain areas [10:32] Renovating big houses to live in versus renting them out [19:35] The unexpected stand-out in growth [23:22] There’s not a lot of building going on in Sydney versus Melbourne [25:39] Comparing the price growth of Newcastle and Wollongong [27:04] The desirability of Fig Tree Pocket, Byron Bay, and Lake Macquarie [29:48] Why the South and Gold Coast areas are worth looking into [33:18] The big price growth anomaly that is the Gold Coast hinterland [34:29] What can we expect on the next Suburb Trends episode? [39:23]   Links from the Show: Visit Suburb Trends Suburb Trends Building Activity Map   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/204   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

While we’re not fans of buying stock built by most developers, we do understand that more housing does need to be constructed. Most people see builders and developers in quite a negative light, so is it possible for them to be driven by purpose rather than profit?  Shannon Peach, Director and Head of Development at Milieu, joins us as we explore the possibility of architecture as a tool to effect positive social change. We talk about advocating for densified middle-ring suburbs, what buyers look for most in a property, and heaps more!  If you enjoy 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: Is the industry already making a change, or is Milieu doing most of the work? [01:43] The hope for favourable change in development 10 years down the track [06:04] Advocating for densified middle-ring suburbs [08:46] What is the world doing that we can apply to Australian buildings? [17:39] What Milieu does differently to protect their buyers [23:06] Transparency about who the developers & builders are [25:24]  What can developers do to stand by their product better? [26:26]  Preventing mixed-use developments from becoming ‘white elephants’ [30:29] MIlieu’s target market & expanding their customer base [33:59] Do one-beds and two-beds make developers more money? [39:57]  Is there a higher price per m2 for two-bedders vs one or three-bedders? [43:30] - 45:05  What are buyers asking most for in a property? [46:54] Resales performance of Milieu apartments compared to others [52:06] Shannon’s property dumbo [57:09]   Links from the Show: Check out Milieu Property  Shannon’s interview with Australian Design Review   About Shannon Shannon Peach joined Michael McCormack and Ross Troon in 2014 to help lead the Milieu development business. With a commitment to continue to learn, influence and educate, Shannon’s business and design approach draws on more than 15 years’ experience working in private and public development, construction and finance organisations across Australia.   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/203   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Since the latter half of 2020, the prestige property market has seen amazing growth.  This segment is so exclusive that to qualify for the label, the property’s sale price needs to be over $10M in Sydney and Melbourne or $7M elsewhere, and this got us thinking, “Well, what is driving the incredible price growth we’ve been hearing about across this segment?” Michelle Ciesielski of Frank Knight shares insights on why and how this growth in the prestige market is happening, what the ultra-wealthy think about when choosing property to invest in, the concept of “branded residences” and much, much more. If you enjoy 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: Where else in the world are property markets booming? [02:35] What is driving the growth in value in prestige market properties? [05:12]  Buying residential property purely for investment not lifestyle benefits [09:42] Where did the 11% increase of prestige market buyers come from? [13:58] An insight on the mindset of the ultra-wealthy [16:25] Will more incredibly wealthy people come to Australia post-pandemic? [19:12] How do global investors think about currency & ‘buying cheap’? [22:45] Tax awareness for expats & overseas investors with property in Australia [25:20] 2 important factors prestige market buyers need to focus on [27:06] The continuous cycle of worsening inequality & build-up of the wealthy [32:33] Considerations for building properties for prestige vs. standard markets [36:16] Is there a push for major developers to repurpose commercial spaces? [39:50] Can you entertain on the 81st floor? [43:24] Do wealthy investors invest in scarce buildings to resell them later? [45:03] The “branded residence” concept [47:07] Are compounding properties common with the ultra-wealthy? [51:43] Michelle’s property dumbo [55:49] Buying in multiple areas & F.O.M.O. [58:09]   Links from the Show: Links to recent Knight Frank reports: The Wealth Report 2021 Australian Prime Residential Review Q3 2021 Australian Prime Waterfront Index 2021 Australian Residential Tennis Court Premium 2021 Knight Frank on LinkedIn Knight Frank on Facebook   About Michelle Michelle Ciesielski is a Partner at Knight Frank Australia and leads the residential research team, providing a platform for clients to make strategic and well-informed investment decisions.  Industry-leading residential insights are shared via publications and presentations specialising in development sites, foreign investment, apartment projects and established property, covering both the prestige and mainstream residential markets across Australia. Michelle frequently appears in local and international print, online and broadcast media commenting on current issues relating to the residential property market. Connect with Michelle on LinkedIn Follow Michelle on Twitter   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/202 If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.