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

As we delve into the deepening housing affordability crisis in Australia, and the conversation starts to shift from the struggles of first-time home buyers to the escalating rental crisis, it's time to examine whether the proposed solutions from our government are truly effective or mere band-aids to a larger problem. In this episode, we delve deep into the housing crisis and explore the obstacles preventing meaningful change. Is it a lack of political will that prevents decisive action? Or are there other roadblocks, such as complex regulatory frameworks or community resistance, that impede progress? Joining us as we attempt to gain insights into the current state of the Australian housing market is Peter Tulip — Chief Economist at the Centre for Independent Studies, whose extensive experience, including his research at the Reserve Bank of Australia and the Federal Reserve Board of Governors, makes him an invaluable resource in understanding the complexities of housing and monetary policy. If you're passionate about understanding the intricate dynamics of the Australian housing market and eager to explore potential avenues for change, this episode is a must-listen. Gain valuable insights from our expert guest as we unlock the mysteries of why housing solutions remain elusive in the Australian housing landscape and discover potential pathways towards affordable housing solutions. Episode Highlights: 00:00 - Welcome 01:47 - Peter’s thoughts on the NIMBY and YIMBY movement 05:12 - What are the solutions to the supply problem? 07:34 - What factors influence builders' willingness to provide housing? 08:55 - Challenges faced by builders and developers in the current market 12:57 - The impact of land tax on the property prices in Australia 21:00 - Factors that contribute to the limited growth of the build-to-rent sector in Australia 27:29 - Is there a lack of accountability among certain councils regarding housing shortages? 28:36 - Successful examples of councils changing their stance on housing development 32:01 - What are the challenges and opportunities of industrial land redevelopment? 38:49 - Are land values and density considerations affecting housing targets in Sydney? 47:37 - What are the shortcomings of the current monetary policy process in the RBA? 51:57 - How has the property market shown resilience despite interest rate hikes? 56:30 - The cause behind the significant shortfall of dwellings in Sydney 58:02 - Peter Tulip’s property dumbo About Our Guest: Peter Tulip has been Chief Economist at the Centre for Independent Studies since 2020. From 2011 to 2020 he was Senior Research Manager at the Reserve Bank of Australia. Before that he worked at the US Federal Reserve Board, the OECD and the Commonwealth Treasury. His research has been published in numerous international academic journals. His recent work focuses on Australian housing policy.  He has a PhD from the University of Pennsylvania. Connect with Peter Tulip: Visit their website: www.cis.org.au/experts/research-scholars/peter-tulip Follow Peter on Twitter: https://twitter.com/peter_tulip Send an email to ptulip@cis.org.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.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.

How closely are our homes tied to our overall sense of wellbeing? Is it true that homeowners experience greater happiness compared to renters? We're about to uncover the truth behind this common assumption. While owning a home can offer stability and a sense of control over our living environment, it is not without its challenges. Financial stress and the responsibility of property maintenance can dampen the initial excitement. So, how long does the satisfaction of homeownership last before we yearn for something more? In today's episode, we are honored to have Dr. Peggy Kern, an esteemed associate professor at the Centre for Wellbeing Science within the University of Melbourne's Graduate School of Education to help us uncover the complexities beyond the simplistic notion that homeowners are content and renters are dissatisfied. Tune in to gain valuable insights into the connection between homeownership and happiness and have a deeper understanding of how our living arrangements can impact our overall well being. Episode Highlights: 00:00 - Is homeownership connected to our sense of wellbeing? 01:24 - Who is Dr. Peggy Kern? 02:16 - How do we measure our well being or happiness?  04:14 - Explaining the hedonic treadmill and how it relates to homeownership 11:53 - Factors that contribute to the emotional rollercoaster of homeownership 15:08 - The pros and cons of short-term vs long-term thinking 19:13 - Tips for getting into a long-term thinking mindset 23:32 - Common factors found among centenarians that could be contributory to their long life 25:37 - Fact or myth? It takes longer to bounce back from negative experiences 30:56 - How pursuing a dopamine hit impacts decision-making when it comes to property 37:17 - Does one's affluence paradoxically coexist with unhappiness? 39:39 - How important is financial stability to one’s well being? 42:10 - Factors that influence one's perspective on downsizing 43:45 - How can housing choices impact overall happiness and satisfaction? 50:41 - Peggy Kern’s property dumbo About Our Guest: Dr. Peggy Kern is an associate professor at the Centre for Wellbeing Science within the University of Melbourne's Graduate School of Education. Originally trained in social, personality, and developmental psychology, Peggy received her undergraduate degree in psychology from Arizona State University, a Masters and Ph.D. in social/personality psychology from the University of California and postdoctoral training in positive psychology at the University of Pennsylvania. Her research focuses on understanding, measuring, and supporting wellbeing across the lifespan. She works with schools and workplaces to examine strategies for supporting wellbeing, and bridging gaps between research and practice. She has published 3 books, over 100 peer-reviewed articles and chapters, and the freely available Palgrave Handbook of Positive Education. Connect with Peggy Kern: Get free and unlimited access to the Palgrave Handbook of Positive Education https://link.springer.com/book/10.1007%2F978-3-030-64537-3 Find out more about Peggy’s work at: http://www.peggykern.org/ Connect with Peggy on LinkedIn: https://www.linkedin.com/in/peggy-kern-b1955223/ Resources: Buying a new house: Will it actually make you happy? https://bit.ly/3pQuLgn 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.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.

How would you feel if your dream of building a new home on a suburban property suddenly turns into a nightmarish ordeal? Imagine the shock and dismay when a family's hopes got crushed after demolishing their existing house, only to discover that they couldn't build on the site due to unforeseen zoning regulations. It raises a pressing question: How could such assumptions about property improvements lead to devastating consequences? To shed light on this topic, we've invited Eli Gescheit, an esteemed urban planner with over 15 years of experience and Director of Navon Planning. With his profound understanding of local councils and the needs of property owners, Eli is uniquely positioned to guide us through the intricate process of gaining approval for property enhancements. Prepare to be enlightened as we embark on a journey alongside an urban planner who has witnessed firsthand the impact of misguided assumptions. Learn how to navigate the terrain of property improvements with greater confidence and avoid potential pitfalls that could jeopardise your dreams. Episode Highlights: 00:00 - Introduction 02:11 - Understanding the basics of the planning process in its entirety 04:10 - Two types of town planners and their roles in the context of councils and government 06:25 - Demolishing a brick home without approval from a town planner’s perspective 09:45 - Due diligence that goes beyond just the zoning certificate 12:52 - Property risks: Floods, bushfires, and their impact on property evaluation 16:17 - Overland flooding and flooding in Brisbane 20:06 - Various misconceptions and mistakes people make regarding their own properties 24:33 - What home improvements can you do without the need of a development approval? 31:27 - Repercussions of non-compliance in property transactions 36:16 - Roles and boundaries for illegal property work in Sydney 38:39 - Getting approvals for large property developments 43:23 - The impact of your relationship with neighbours on your property development plans 45:38 - What happens if your application gets disapproved? 48:09 - The difference between going to court vs consulting with a local agent 51:49 - The process involved in court cases and negotiations related to legal matters 57:49 - The importance of having a relationship with counsel in your pre-DA 1:00:16 - Eli Gescheit’s property dumbo About Our Guest: Eli Gescheit — Director of Navon Planning, is an experienced urban planner with over 15 years’ working in various Councils and consultancies, including Waverley Council and Hurstville Council (Now known as Georges River Council), at leading planning consultancy, Urbis and at Neustein Urban. Eli knows the ins and outs of Councils while also understanding client’s requirements. He possesses negotiating skills and regularly appears as an expert witness before the NSW Land and Environment Court. Connect with Eli Gescheit: Connect with Eli on LinkedIn https://www.linkedin.com/in/eligescheit/ Join Eli’s Masterclass https://www.navonsolutions.com.au/masterclass/ 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.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.

Picture this: a country caught in the grips of an unprecedented rental crisis, where finding a place to call home has become an arduous battle for countless Australians. The very fabric of the real estate market is strained as supply dwindles and demand soars to staggering heights.  In the face of this dire situation, our resident data geek, Kent Lardner, takes on the monumental challenge of untangling this complex web and shedding light on potential remedies. Today, we plunge into the depths of the rental crisis, guided by Kent Lardner's tireless research and analytical expertise. We investigate the intricate interplay between supply, demand, and socioeconomic factors that contribute to this critical juncture. With a data-driven lens, we scrutinise potential solutions, daring to challenge the status quo and disrupt conventional thinking. Tune in to this month’s Suburb Trends report where we navigate the tumultuous landscape of Australia's rental crisis — is there a way out? Episode Highlights: 00:00 - This is our Suburbs Trends Report for May 2023 00:55 - How Kent tackled the challenge of solving the rental crisis 03:58 - Top 10 areas in terms of percentage of rentals 09:48 - National rate of vacancy is under 1% — it’s CRAZY! 12:11 - Why first home buyers are scared to go into the rental market again 16:53 - The disadvantages of the rent-to-share scheme we’re seeing in other cities 18:55 - Government incentives for boosting investment in multi-family residential properties 22:47 - Who’s to blame for the rental rates rising above CPI? 26:07 - Is this a viable solution for solving the current housing crisis? 27:43 - Another problem being caused by short-term rentals 30:38 - Various incentives and policies that could address the housing problem 32:18 - The political aspect of housing policies 36:08 - Investors are pulling out of the market because of the rental issues 40:11 - Can prefabrication and 3D printing address the problem of labour shortage? 42:07 - What’s starting to change in the rental market? 48:34 - What’s the impact of new developments in the rental markets? About Kent Lardner: Kent Lardner is an expert data science and business leader with 30+ years of experience at leading companies like JLL, CoreLogic, and General Electric. He has led teams of 5 to 200 people across Australia and China, driven by his passion for high-growth digital businesses. Kent is also the founder of Suburbtrends, a leading property research firm trusted by major names in Australian property and featured in mainstream media. Connect with Kent Lardner: Kent Lardner’s LinkedIn: https://au.linkedin.com/in/kentlardner Kent Lardner’s Website: Suburbtrends https://suburbtrends.com/ 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.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.

In this week's episode of the podcast, we tackle the thorny issue of Australia's population growth and how we plan to provide accommodation for the influx of people that are set to arrive on our shores. With immigration back on the table, the government has forecast a 60% increase in population by 2050, which raises a number of difficult questions. First and foremost, we simply don't have enough housing to accommodate our current population, let alone a larger one. Building companies are struggling, there's a labour shortage, and the cost of materials and capital is rising. This is going to make it extremely difficult to ramp up the supply of new housing, especially when there will be stiff competition for resources. But housing is just one piece of the puzzle. We will also need to consider where these people will work, shop, and go to school. This requires careful planning and reliable forecasting, something that Richard Temlett, our guest on the podcast, specialises in. As a director of Charter Keck Cramer's strategic research department, Richard helps industry players make development and investment decisions based on forward-looking, evidence-based outputs. In this episode, we dive into the specific challenges that Australia's population growth presents in the apartment space. With more people looking for smaller, more affordable homes, how will the market respond? And what impact will this have on  existing apartment buildings and the broader property market? Richard shares his insights and predictions for the future, painting a picture of what life might look like in Australia in 2050. Tune in to hear the full conversation and gain a deeper understanding of the challenges and opportunities that lie ahead. Episode Highlights: 00:00 - Introduction 01:28 - Who is Richard Temlett? 02:31 - Richard’s take on the development space in 2023 coming out of COVID 05:52 - What’s happening to the supply and demand in the Australian housing market? 12:30 - The mismatch between supply and demand 14:36 - How important are foreign buyers in the build-to-sell sector 19:12 - What’s going to solve the housing crisis in Australia? 23:11 - Are foreign investors becoming a problem in Australia? 28:36 - The challenges that developers face with labour shortages and building prices 32:05 - How will the Australian housing market respond to fluctuations in the cash rate? 36:27 - Let’s talk about the issues with price rises and settlement risks 39:52 - The problem with the current financing arrangements for developers 44:57 - How builders are getting around the fear of quality being a problem 50:59 - How does the Olympics impact the construction industry in Australia right now? 54:24 - The impact of labour shortage in Australia 55:25 - Richard’s property dumbo About Our Guest: Richard Temlett is a Director in Charter Keck Cramer's Strategic Research department. A former lawyer, Richard specialises in producing forward-looking evidence-based outputs which identify the target market(s), identify the property market risks as well as validate inputs for development and investment decisions. Richard has worked in both the private and public sectors, as well as in consulting and developer roles. He is a regular contributor and presenter at events and seminars in the property industry. Connect with Richard Temlett: Connect with Richard on LinkedIn https://www.linkedin.com/in/richard-temlett-9386054a/ 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.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.

Negotiation is a game of strategy, and those who master it can achieve great success in the property market. But how do you know if you're a good negotiator? Do you always aim for a win-win, or do you have a secret fallback position that you rely on? In this episode, we explore the art of negotiation with renowned property expert Michael Yardney, who has developed a range of tactics to influence and persuade others to do what he wants them to do. With his book "Negotiate, Influence, Persuade: How to Persuade Others to Do What You'd Like Them to Do," Michael delves into the psychology of deal making, exploring how to achieve your desired outcomes by understanding the other party's perspective. We also discuss whether commonly used negotiation strategies such as aiming for a win-win or meeting in the middle are still effective in today's market, or whether it's time to ditch them and study the psychology of deal making instead. While we'll be viewing negotiation through a real estate lens, Michael's book emphasises that negotiation is a life skill that can be applied to any situation. Whether you're negotiating a property deal or trying to do something otherwise, understanding the psychology of deal making will certainly help you achieve your desired outcome. So if you're looking to improve your negotiation skills and achieve success in the property market, be sure to tune in to this episode and learn from one of the best in the business. Episode Highlights: 00:00 - What is the art of negotiation? 02:41 - Michael’s inspiration behind his book "Negotiate, Influence, Persuade” 04:47 - Realising that all life is in negotiation 05:49 - What is the best negotiation? 08:31 - Let’s talk about the three key areas of power in negotiation 12:43 - Don’t go into a negotiation without knowing the end result 17:16 - Don’t be tricked into making another offer 20:47 - What are the two motivators of negotiation? 24:33 - What are the benefits of having a good buyer’s agent? 29:02 - How to negotiate in a buyer’s market? 35:55 - The key thing buyers need to know about negotiation 38:21 - The biggest negotiating mistake property owners make 40:18 - The pros and cons of having different levels of vendor disclosure in different states in Australia 42:54 - How to make an offer after doing your due diligence 45:39 - What are some of the biggest biases in real estate negotiation? 50:41 - What is anchoring bias and how is it used in the real estate market? 57:52 - Michael Yardney’s property dumbo About Our Guest: Michael Yardney is a highly respected and influential figure in Australia's property market, with an impressive list of credentials that includes being #1 bestselling author of 9 books and being voted one of Australia's 50 most influential thought leaders. He is also a trusted property commentator whose opinions are regularly quoted in the media, including major newspapers, finance and property magazines, and on Sky TV and commercial radio. What sets Michael apart is that he is not just a theorist but also a successful property investor and developer, and as a director of Metropole Group of Companies, he leads a team of professionals who help clients grow, preserve and pass on their wealth. Connect with Michael Yardney: Connect with Michael on LinkedIn: https://www.linkedin.com/in/michaelyardney/ Follow Michael on Instagram: https://www.linkedin.com/in/michaelyardney/ Follow Michael on Twitter: https://twitter.com/michaelyardney Discover Michael’s books on Amazon: https://amzn.to/40Dvtuj Visit Michael’s website: https://propertyupdate.com.au/ Resources: The Elephant in The Room Property Podcast Episode 029: Negotiation masterclass | Fiona McKenzie, Resolving Matters https://www.theelephantintheroom.com.au/podcasts/029 Negotiate, Influence, Persuade: How to Persuade Others to Do What You'd Like Them to Do by Michael Yardney https://www.amazon.com/Negotiate-Influence-Persuade/dp/1925927245 The Elephant in the Room Property Podcast Episode 001: Who is Really Making the Decisions When You Bid at Auction? https://www.theelephantintheroom.com.au/podcasts/1 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.wealthful.com.au Work with Chris: hello@wealthful.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.

Could the mortgage cliff in 2023 be the start of a new era for the property market? Over the next few months many Australians will come off fixed rates and face higher mortgage repayments. But is this just a short-term blip, or could it have a lasting impact on the property market? To help us better understand the potential impact of the mortgage cliff, we're joined by Martin North, the founder of Digital Finance Analytics. Martin is an expert on mortgage stress in Australia, and he publishes a number of relevant indices on defaults, mortgage stress, and consumer confidence. In this episode, Martin shares his thoughts on the scale of the problem and who is most at risk. He discusses how the current interest rate hike cycle will impact different segments of the property market. Martin also shares his insights on how the market as a whole might respond to the mortgage cliff and whether we can expect to see a significant slowdown in property prices. So whether you're a homeowner, property investor, or mortgage broker, this is an episode you won't want to miss. Episode Highlights: 00:00 - Mortgage stress in Australia - what is the scale of the problem and who is most at risk? 01:03 - Who is Martin North? 02:15 - What’s coming up over the next six months for mortgage rates? 05:55 - Are fixed mortgage rates going to have an immediate effect on home sales? 08:48 - Percentage of loans in big banks' loan books written during low-interest-rate periods 11:32 - How are first-time homebuyers impacted by the current economic climate? 14:51 - What impact do price wars have on banks' net interest margins? 22:01 - What is currently going on in the housing market? 26:04 - Martin’s thoughts on the property market splitting 28:19 - Different trends in property prices across different regions in Australia 36:12 - How does property composition affect price dynamics? 38:31 - What is the most significant linkage to house price movement? 41:28 - Is borrowing capacity as important as buying capacity? 43:27 - Martin’s outlook for the interest rates in Australia and the global economy 45:20 - Boom or bust? A peek into the Australian property market for February to March 47:27 - The impact of the RBA lift on buying power and credit availability 48:47 - What are the dangers of waiting for the bottom to happen? 51:22 - More thoughts on the increased inequality in the society 54:45 - Martin North’s property dumbo 56:40 - Martin North’s anti-dumbo About Our Guest: Martin North is a prominent researcher who specialises in the mortgage lending, savings payments, and superannuation sectors. He is the founder of Digital Finance Analytics — a boutique research, analysis, and consulting firm. He has a long history of research in mortgage stress in Australia and publishes relevant indices on defaults, mortgage stress, and consumer confidence. In addition to his work in finance, he curates the YouTube channel "Walk the World," where he covers finance and property news with a distinctively Australian flavour and invites controversial guests. He is also a founding director of Asbestos Awareness Australia, a registered charity he established with his late wife, Jill, in 2021. Connect with Martin North: Subscribe to Martin’s YT Channel “Walk the World”: https://www.youtube.com/c/walktheworlddfa Connect with Martin North on LinkedIn: https://www.linkedin.com/in/martin-north-6a799182/ Visit Martin North’s website: https://www.digitalfinanceanalytics.com/ Resources: The Elephant in The Room Property Podcast Episode 218 https://www.theelephantintheroom.com.au/podcasts/218 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.wealthful.com.au Work with Chris: hello@wealthful.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.

Australia's economy once lauded for its stability and strong growth potential, is now facing extreme economic strain. Inflation has been steadily climbing in recent months with the Reserve Bank of Australia (RBA) yet to take decisive action. It begs the question: are interest rates enough to control inflation?  To shed some light on the current state of the economy, we have economist Warren Hogan joining our podcast. In today’s discussion, we cover a range of topics that are currently affecting the economy, such as the impact of the pandemic on the housing market, the rise of the working poor, and the lack of a cohesive approach from our governments. Warren also shares his insights on the effects of the super changes, the potential for a rental crisis, and the importance of understanding the risks associated with easy credit. Don't miss out on hearing keynote insights from one of Australia’s leading economists and dive in for a detailed exploration into how these issues are impacting us all! Episode Highlights: 00:00 - Introduction 02:19 - Warren's stance on the Australian economy and how it differs from the consensus 06:35 - The surprising truth about interest rate and property price forecasts in 2022 13:09 - Current state of the Australian housing market and how interest rates are affecting it 16:43 - What’s happening in the Sydney property market? 24:12 - Scenarios and potential outcomes of interest rate changes on the Australian economy 27:37 -What happens to the interest rates when inflation becomes entrenched in the economy? 32:13 - How is the Australian economy faring amid the pandemic? 39:37 - The cause of the housing shortfall in Australia and how it's impacting the economy 43:42 - What is causing the wage stagnation in the labor market? 48:31 - Factors to consider when buying a home as a long-term asset About Our Guest: Warren Hogan is a renowned Australian economist, macroeconomic policy expert, and a top-notch analyst of global markets. He advises political leaders, businesses, and money managers through his consulting company, EQ Economics. Warren has had an illustrious career in banking and financial markets where he served as an economist and financial market strategist at various firms, including ANZ bank, Credit Suisse, and Westpac Banking Corporation. With a focus on forecasting and prediction, Warren values critical thinking and plain speaking in his approach to economic problem-solving. He engages with the SME sector to gain perspective on what's happening now and what could happen next in the Australian economy. Currently, Warren is producing analysis and forecasts for Australia's residential property markets through HALO Technologies — an Australian listed equities analytics and execution platform. Connect with Warren Hogan: Warren Hogan’s LinkedIn https://www.linkedin.com/in/warren-hogan-835581116/ Warren Hogan on Twitter https://twitter.com/_warrenhogan If you’d like to book Warren Hogan for your event https://www.saxton.com.au/speakers/warren-hogan 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.wealthful.com.au Work with Chris: hello@wealthful.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.

Whether you’re a property investor with tenants, or you’re currently renting, you will be effected in some way shape or form with the current rental market conditions.  In today's unstable housing prices, tenants are struggling to stay afloat. With sky-high rent increases and plummeting vacancy rates, it can feel like an uphill battle! Renters need solutions NOW! From the diminishing availability of housing units and poor living conditions; Leo Patterson Ross - CEO of Tenants Union of NSW - discusses how this current situation affects people renting a home as well as sharing his knowledge on creating a fairer system for all occupants in order to make it more accessible.  So don't just survive this crisis, thrive by learning what solutions are available.  Don't resign yourself to dead-end leases; join us as we uncover solutions that can create a brighter future for renters. Learn how together, we can counteract the difficulties of today's rental market and ensure tenants are given greater equity in their living situations! Episode Highlights: 00:00 - What will happen to tenants’ rights now that we have a chronic rental shortage? 02:11 - Leo explains what the Tenants Union does 04:06 - What are the most common reasons why people get evicted from a rental property? 07:11 - What’s going on in the rental market and why isn’t it working? 18:13 - How do you address the challenges of the current housing market? 22:15 - What’s happening in Sydney’s inner city? 27:45 - What’s going to be required to change the current rental market situation? 34:16 - What’s going on in the real estate market? 39:50 - When a property becomes vacant, why isn’t it being incentivised? 45:47 - Leo’s mission statement is to change one thing 48:57 - What is the impact of rent regulation on the market? 55:45 - The temptation to look at ways to streamline the business About Our Guest: Leo Patterson Ross has worked in housing justice and community development for 15 years with over a decade in various roles at the Tenants' Union, stepping up as CEO the day COVID eviction moratoriums were announced in NSW. Bringing together social work training, front-line advocacy experience and a pragmatic approach to seeking solutions that work, Leo is committed to assisting renters, to and speaking about the experience of renters in NSW. Connect with Leo Patterson Ross: Leo Patterson Ross’ LinkedIn https://www.linkedin.com/in/leopattersonross/ Leo Patterson Ross’ Facebook Page https://www.facebook.com/leopattersonross/ Leo Patterson Ross’ Twitter https://twitter.com/LeoPatRoss 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.wealthful.com.au Work with Chris: hello@wealthful.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.

The real estate sector in Australia has come under scrutiny lately after a Four Corners report uncovered certain questionable practices employed by real estate agents. While this exposé has sparked a series of discussions and raised important ethical and regulatory questions about the industry, there remain many uncertainties about what will happen next. In today’s episode, we closely examine the aftermath of the Four Corners exposé and its implications on the Australian real estate market. We also talk about our views on what regulators can do to tackle poor real estate practices, presenting a nuanced perspective on the state of the industry and exploring possible solutions moving forward. If you want to keep abreast of the latest developments in the Australian real estate industry, we invite you to join us for an insightful and informative conversation on the real estate industry's response to the Four Corners exposé. Episode Highlights: 00:00 - Introduction 01:39 - Chris and Veronica's initial reactions to the Four Corners Exposé 03:17 - Uncovering the flaws and challenges in Australia's real estate industry 07:40 - Can the real estate industry overcome its sales-focused past? 13:47 - Is the CBD system failing the real estate industry? 18:59 - What buyers SHOULD do to minimise risk when purchasing properties 22:30 - The most common ethical issues in real estate and how to avoid them 26:14 - Uncovering the truth: Real estate agents and undisclosed kickbacks 31:41 - The real culprit behind under-quoting: Poor legislation or unscrupulous agents? 38:03 - How to protect yourself from the impact of underquoting in the real estate industry 45:48 - How real estate agents manipulate buyers with underquoting 52:19 - How can the real estate industry shift its culture towards being trusted advisers? 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.wealthful.com.au Work with Chris: hello@wealthful.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.