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

There IS a housing affordability crisis in Australia.  In this episode, we’re taking a look at and debriefing the Falinski report: a Federal Government Inquiry into housing affordability and supply in Australia, conducted in the second half of 2021.  What’s causing the drop in housing affordability? What does the Falinski report recommend to ease the crisis? Are there gaps in the report? We cover these and more in the show! 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: Our views on housing affordability [02:01] Declining homeownership rates in Australia [04:26]  The correlation between interest rates and housing affordability [08:16] On taxes, levies, and construction costs [10:41] The government’s role in delivering and funding housing services [14:32]  Falinski Report recommendations on housing affordability [18:04] Halting top-down impositions & loosening planning restrictions [18:09]  Holding accountability in certain areas [24:18] Addressing homelessness, critical housing, and rent-to-buy schemes [28:29] Using super to assist first home buyers in securing deposit [32:08] Will keeping negative gearing help housing affordability? [35:16] Replacing stamp duty with land tax to increase supply [38:51] Acknowledging transitional costs [41:34] Ensuring developer contributions are used on infrastructure [42:03]  Evaluating the build-to-rent sector, APRA & non-bank lenders [43:55] Monetary policies, information flow, and government support for housing [46:06] What the Falinski report does not cover [47:48] Is the lack of luxury housing causing a domino effect? [51:05] Links from the Show: Inquiry into housing affordability and supply in 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/224   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Building materials have soared in the past few months due to the COVID pandemic. What major implications did the pandemic have on the building industry? How are builders and developers addressing material and labour shortages? Will prices eventually normalise? Today we’re joined by data geek Mike Mortlock of MCG Quantity Surveying to discuss the construction materials cost crisis, the current building price index, the effect of COVID on the property market, the rental loss index, 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 workforce and supply issues brought by the pandemic [01:24] How the material and labor shortage affected builders [05:23] What are builders and developers doing to calm down the cost crisis effect? [10:08] The current building price index [15:27] How local and world issues are affecting construction costs [18:14] The price differences when building in different locations [22:25] Will prices normalise after the COVID pandemic? [25:20] COVID’s role in business restructures and livelihood [32:06] Mike’s work on the rental loss index [36:55] Rental loss index findings on vacancy rates [41:40] Good asset vs vacancy [50:05] Vacancy rates in the commercial market [54:16] Mike’s property dumbo [57:28] Links from the Show: Ep 60: Are property investors paying more tax than they need to?  Ep 128: Trends in property investment: What does the data say?  The MCG Quantity Surveyors Rental Loss Index 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/223   If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Another year, another fool or forecaster report. In this episode, we’ve gathered data and put together a bank scorecard - which banks did a good (or foolish) job of forecasting the property market? Which ones are the most reliable? Is 2022 the year to make a property move?  Listen in on our discussion on authority bias, world events that affected the property market forecasts, holding bank economists accountable, and heaps 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: Looking back at bank records [01:35] Authority bias: Why we assume “experts” are right [06:52]  World events and factors that affected market forecasts in 2022 [10:34] Which “experts” should you rely on? [13:04] The correlation between house prices and interest rates [16:48] The dangers of making forecasts on a macro level [19:47] Is it possible to predict risk? [23:54] How COVID changed the real estate market [26:02] Is 2022 the time to make a property move? [28:32] Are apartment investments compromised? [33:32]  Holding bank economists accountable [35:58]  Should you base your property buying decisions on forecasts? [39:26]   Links from the Show: Fool or Forecaster Report 2022 Finder RBA Cash Survey CoreLogic Home Value Index Scope Economic Survey Will Higher Interest Rates Cause Property Prices To Fall?    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/222  If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

As digital platforms and online portals become more sophisticated, the relationship between sellers, agents, and buyers have shifted as well… But to what degree?  How are buyers’ data and information being treated in the online space? Is your privacy as a buyer compromised? Should you consider buying property in an online portal?  Today, we are joined by Simon Hope, General Manager of Product for Residential at REA Group, to help us understand the nuts and bolts of search engines, online property portals, data collection, and loads 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: REA’s grand vision [02:10]  Are real estate agents creating friction between buyers and sellers? [05:35] The property pricing problem with agents [08:11]  How REA is addressing real estate pricing and trust issues [11:30] What information do online platforms collect from buyers? [14:07] How REA helps agents and buyers [18:06] The shifting conditions of online privacy and behaviour [21:23] Who owns the data buyers enter in online portals?  [23:52] REA’s answer to cybercrime and off market sales [26:44] Buying property on vs off portal [32:00] Will online portals replace real estate agents in the future? [37:27] REA’s plans on domestic market expansion [38:49] Navigating and embracing innovative property solutions [43:37] Should there be concerns over the amount of data online portals hold? [47:01]   Links from the Show: REA News: Vendors selling their homes off-market could be costing themselves plenty REA Website   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/221  If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Today, we’re answering real estate questions our awesome listeners sent in!What are entry level prices for the Sydney property market? How do you price property in a volatile market? How much are you losing when you overcapitalise?We’re diving into these questions and more as we talk about market research, the ripple effect, bridesmaid suburbs, and heaps 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: Is the Sydney market unachievable? [01:02] When should you sell property and reinvest? [08:58] Factors to consider before selling your property [12:39] How Veronica researches property prices [19:45] Will the current premium markets plateau any time soon? [25:31] Are ‘bridesmaid’ suburbs worth it? [31:20] Characteristics of good-performing properties [36:31] The problem with overcapitalising on your property [42:39] How to avoid overcapitalising [46:01]  Links from the Show: Home Buyer Academy’s FREE Course Suburb Trends July 2021 | Best metrics to measure growth? 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/220  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 Australian property market has faced many unexpected changes during the end of last year up to the first quarter of 2022. So, how is it holding up? What global events are affecting the market? Is the rental market improving this year? Is the Australian social class gap slowing down the market?  In today’s Suburb Trends episode, our resident geek Kent Lardner joins us as we take a look at the statistics and discuss the changing market conditions in the country, property inventory, areas going strong, areas showing signs of softening, 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: Data gathering methods used [01:04] The status of property inventory and sales volume [02:30] How government grants are affecting the market [04:58] A summary of market conditions [08:33] Strong areas and Melbourne’s surprising comeback [12:58] Global issues challenging the property market  [15:19] The rental crisis and the problem with homelessness [18:42] The effect of reopening borders to the rental market [22:00] Rental price delays and the “Landlord Pride” theory [26:03] On indexing and the mentality behind determining property value [28:41] Is buying a unit or apartment (finally) a good idea? [34:43] How the Australian social class gap affects buyer options [41:09] A list of robust property markets [46:28] The price data anomaly [52:22] Links from the Show: Suburb Trends July 2020 | Micro vs Macro Markets w/ Kent Lardner 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/219  If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Did you know that statistically, over 4,000 people die each year due to asbestos exposure? Not only that - one out of three properties in Australia contain asbestos, and most occupants aren’t even aware of it!  Knowing this, why is this issue yet to be addressed properly? How serious is this problem, and how can you make sure that you’re safe from it? Martin North of Asbestos Awareness Australia will walk us through everything we need to know about asbestos and how to deal with it, and the dangerous consequences its presence poses in property. We’ll also discuss myths about asbestos, the lack of action most people have, accreditation for asbestos removal, 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: A warning for property owners [01:38] The problem with asbestos [03:53] Are Australians aware of this asbestos issue? [08:50] The dangers of not knowing if there’s asbestos in your property [11:56] Is asbestos fine on your property as long as it’s not disturbed? [16:59] The lack of action towards asbestos [20:34] More women are being diagnosed with mesothelioma due to DIYs [25:39] Driving political change that addresses the issue [28:23] The urgency when dealing with asbestos [34:54]  Debunking the myths about asbestos [37:25] Checking a service provider’s accreditation for asbestos removal [39:36] How the UK deals with the dangers of asbestos [42:10] Don’t just leave it to the government [45:00] Remember to wear a mask and other protective equipment [49:17]   Links from the Show: Visit Asbestos Awareness Australia About Martin: Martin North is the founder of Digital Finance Analytics and curates the YouTube Channel Walk The World, where he covers finance and property news with a distinctively Australian flavour. In addition, he is a founding director of Asbestos Awareness Australia, a registered charity which was established with his wife Gill, last year. Gill was a Professor of Law and diagnosed with mesothelioma, an aggressive cancer which is caused by random exposure to asbestos. Before her death in December last year, she had spent the past 3 years researching the story of asbestos. 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/218  If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Getting property advice is one of the most important steps to take when investing in real estate. However, there is no guarantee that every property advisor in the industry has received the right level of education, which can be pretty risky, especially for investors. What are the dangers inherent in the unregulated nature of real estate? How does this low barrier to entry for buyer’s agents affect consumers?  In this episode, Peter Koulizos of PIPA is going to help us understand the educational gap issue and its impact on the real estate market. We’ll talk about the absence of regulation governing property investment advisors, accessibility of good advice, the future of the property market in Australia when it comes to education, 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 “property advice”? [02:09] Difference between a property investment advisor and a buyer’s agent [04:28] What qualifications are needed to become a property investment advisor? [06:12] Why is there no need for regulation? [10:50] Regulations in property & becoming a property investment advisor [15:10] Overregulation for some professionals in real estate [18:25] Property investment hot-spotting [21:55] Resistance in the property industry [25:41] Paying for good property advice [27:59] Mistakes some people make when purchasing properties [34:10] Yield vs growth: What is more important when it comes to property? [35:46] Capital growth gives you a tax liability (for good) [38:01] Identifying if someone’s methodology works [41:01]   Links from the Show: For property investment advice, visit the PIPA website  Episode 207: Suburb Trends December 2021 | Exploring the Dark Side of Property Data Episode 213: Why Do Real Estate Agents Have Such a Bad Reputation? | John Cunningham, Cunninghams Real Estate About Peter: Known as “The Property Professor”, Peter Koulizos holds a teaching degree, Masters of Business (Property) and Master of Urban & Regional Planning. Peter is currently the Program Director of the Master of Property at Adelaide University. Peter has been teaching in real estate and investment for over 25 years. Peter also personally invests/develops property and currently holds several properties. He has published two books; “The Property Professor’s Top Australian Suburbs” and “Property vs Shares”. His third book will be out soon.   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/217    If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

Sometimes it takes a sensational event to bring attention to major problems. Take, for example, the evacuation of approximately 3,000 people in Sydney’s Opal Tower and Mascot Towers. Through these two stories dominating the headlines, Sydney's dysfunctional planning and development system has been highlighted. How big is this problem? How can both ordinary citizens and our governments address this issue? Laura Crommelin of UNSW shares with us her findings on the research she has conducted into building defects in strata, the truth about building defects, problems with design and construct contracts, and everything about the hazards that may be present in a building. 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: Why Laura decided to tackle Sydney’s building defects in her research [01:54] The challenge of finding out the truth [06:52] Coming up with a definition of a ‘defect’ [10:44] What are the most common building defects? [12:21] Design and construct contract and its issues in residential construction [14:39]  When does the government get involved in these building problems? [19:38] Is the government’s strata building bond inspection scheme a good move? [22:23] Data blindness when purchasing brand new properties [25:37] The star-rating system for developers [29:21] Do developers and builders care about the building defect issues? [32:57] Luxury and quality may go together, but what about affordability? [37:09] How can we get out of this mess in the property industry? [43:15]  The light at the end of the tunnel [47:02] Laura's property dumbo [49:35] Being aware of the defect issues before you suffer from them [53:11] Creating a standard for record-keeping in strata properties [56:06]   Links from the Show: Cracks in the Compact City: Defects in Strata Episode 188: Is your property fire safe? | Rob Broadhead, 2020 Fire Protection Episode 176: Developers are in the Government’s crosshairs | David Chandler, NSW Building Commissioner Episode 206: Buyers Beware: Who Controls Your Access to Information? | Dr. Nicole Johnston, Deakin University Episode 112: Pandemic Crisis, What Will Happen to the Market | Veronica Morgan & Chris Bates   About Laura: Laura Crommelin is a Senior Lecturer in the City Planning Program at UNSW Sydney, teaching planning law and governance and working on research related to urban and housing policy. She is also a Fellow at UNSW's City Futures Research Centre. Laura’s research interests cover a range of trends and issues in post-industrial cities, including urban renewal, urban governance, digital disruptions (e.g. Airbnb), place branding, and DIY urban revitalisation practices.   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/216    If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.

These days, the supply of build-to-rent properties, or “multi-family dwellings”  is steadily rising. But how much will it affect the market overall? Should we be concerned about the potential risks this growing segment poses? How about the opportunity costs and losses in today’s booming market? What do we make of that? Join today’s Suburb Trends episode, along with our resident data geek Kent Lardner, as we cover the rise of build-to-rent properties, how it might impact mum & dad high rise investors, Kent’s Win-Loss Ratio, 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: Approaching the rise of build-to-rent properties [1:21] Why are people making build-to-rent properties when there’s an oversupply? [03:08] Yield drives “corporate landlord” behaviour [05:22] Build-to-rent assets are a totally different product [09:02] How attractive are build-to-rent properties to long-term tenants? [12:20] Are there plenty of build-to-rent properties available today? [15:45] A theory about why they’re called “multi-family” properties [17:27] The high risk individual apartment holders face [19:12] Looking at the “boom” and what’s happened (& will happen) in the market [25:15] The danger of the housing affordability push [29:00] Opportunity costs (and losses) in a booming market [35:27] Kent’s Win-Loss Ratio [37:36] Price growth in properties along northern beaches due to COVID [43:17] Locations with the worst win-loss ratios [46:01] The gap between privileged investors versus those on a tight budget [53:21] What’s in the next Suburb Trends episode? [56:34]   Links from the Show: Episode 104: Build-To-Rent the new standard for renters | Adam Hirst, Mirvac   Connect with Us: Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? https://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/215 If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!See omnystudio.com/listener for privacy information.