What’s in Store for the Property Market in Spring 2023?

Spring is traditionally a time of renewal and growth, and this year, the property market is no exception. Today, we dive deep into the heart of the property market, with our focus squarely set on the unfolding drama of Spring 2023. We explore the burning questions that homeowners, investors, and renters across the nation are eager to have answered. "What’s in Store for the Property Market in Spring 2023?"

In this episode, we're joined by a true expert in the field, Corelogic's Head of Australian Research, Eliza Owen who is not only the author of the acclaimed "Pain & Gain Report," but is also a master at deciphering the enigmatic language of property data. Our conversation begins with the ever-pressing question: Will Spring 2023 bring forth a surge in new property listings, and if so, what will it mean for the delicate balance between supply and demand? Will this finally be the turning point where prices stabilise or even dip? We examine the data, unpacking the potential consequences for buyers, sellers, and the broader market.

And, of course, we can't forget the rental market, where whispers of a slowdown in rental price growth have left many puzzled. Despite a lack of new supply, why are rental prices not following the usual upward trajectory? Eliza Owen will provide her insights into this intriguing phenomenon.

Join us for a riveting conversation as we unveil the trends, forecasts, and data-driven insights that will shape the property market's course throughout Spring 2023.

Episode Highlights:

00:00 - Introduction

01:40 - What’s the current state of the property market?

03:27 - Future outlook of the spring property market in terms of new property listings

06:16 - Factors contributing to the resilience of the property market despite challenges

08:58 - Complexities surrounding abnormal winter property listings

12:37 - Has there been a shift from the 2021 trend of regions outperforming cities?

17:29 - Factors driving a significant increase in purchasing activity in Perth

23:08 - How are interest rates and property prices holding up?

26:58 - The impact of the fixed rate cliff on the mortgage market

29:36 - Veronica’s theory on why investors sell pre-emptively

34:46 - How might the RBA respond to changing inflation?

36:22 - Do interest rates impact rents?

39:43 - Is it possible for all areas to eventually revert to the same mean property value?

44:39 - Key trends to watch for in the real estate market in the coming months

49:43 - How will increased public housing and build-to-rent sectors affect real estate investors?

52:32 - Eliza Owen’s property dumbo

About Our Guest:

Eliza Owen is an experienced property data analyst with a background in economics. She has worked for Residex, Domain Group, and CoreLogic, specialising in descriptive and inferential data analysis, data visualisation, and framing data trends with broader economic concepts. Eliza is also a passionate communicator who explains economic concepts to diverse audiences. She has presented on the TEDX stage, written for prominent publications, and been a regular commentator on commercial radio and television. Eliza is a popular keynote speaker, having presented to audiences in real estate, construction, banking and finance, property development, and consumer markets.

Connect with Eliza Owen:

• Follow Eliza on LinkedIn: https://www.linkedin.com/in/eliza-owen-2554ab65/
• Visit their website: https://www.corelogic.com.au/

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast questions@theelephantintheroom.com.au
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.blusk.au
• Work with Chris: hello@blusk.au

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