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

Are you curious about what Lenders Mortgage Insurance (LMI) is and how it actually works? Do you wonder if it's necessary and worth considering when purchasing a property, or do you think it's just an additional cost you can avoid? In this episode, we sit down with Strachan Taylor from Helia, Australia’s leading provider of LMI, to delve into the details. We aim to clarify how often claims are made and why, despite its additional cost, LMI can be a beneficial safeguard rather than something to avoid. By breaking down these aspects, we help you make better decisions about LMI in your home buying journey. Tune in to gain a comprehensive understanding of LMI and discover why it might just be the safety net you need. Episode Highlights: 00:00 - Introduction 01:01 - Who is Strachan Taylor? 01:33 - The history and evolution of Lenders Mortgage Insurance (LMI) in Australia 05:56 - Who else are the competitors of Helia in the LMI space? 06:27 - How has the federal government's 2019 first homebuyer guarantee impacted Helia? 08:43 - Could future regulatory changes potentially blindside your business operations? 10:06 - Do lenders evaluate the potential for property appreciation or depreciation? 12:14 - Is there industry-wide pressure for insurance companies to offer cheaper prices? 14:39 - Is the bank of relatives another competitor in the LMI space? 18:24 - The role and perception of LMI in the home buying process 21:29 - Strachan’s thoughts on new policies where banks are more willing to self-insure 24:19 - How are the LMI premiums calculated? 27:18 - What’s the riskiest type of property for first home buyers? 30:42 - Thoughts on Fintech, Proptech, and etc… 36:54 - Strategies and initiatives by Helia to address the housing affordability crisis 40:15 - How has Helia's share price evolved from its lows to its current levels? 43:30 - How does Helia view customer behaviour regarding home insurance and refinancing? 45:27 - Do borrowers continue paying LMI after refinancing their mortgages? 46:51 - Considering various options including reusing LMI benefits before refinancing 51:15 - Stop looking at LMI as just and additional cost 56:33 - Strachan Taylor’s property dumbo About Our Guest: Strachan Taylor serves as Helia's Strategic Partnership Leader, where he spearheads a dynamic partnership team dedicated to collaborating closely with lender customers in pursuit of helping more Australians achieve financial security through home ownership, expedited by LMI solutions. With a comprehensive skill set encompassing team leadership, communication, and business development, Strachan brings tertiary-level qualifications and extensive expertise in sales, marketing, distribution, and risk management to the helm, constantly striving to enhance risk and capital management solutions and provide valuable market insights for Helia's customers to bolster their risk-writing capabilities. Connect with Strachan Taylor: Visit their company website: https://helia.com.au/ Follow Strachan on LinkedIn: https://www.linkedin.com/in/strachantaylor/ 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 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.

Are you curious about the hidden forces driving Brisbane’s property boom? What impact is the upcoming Olympics having on the property market, and is the construction for the games draining resources from other sectors? Beyond these questions, what else could be behind this sustained period of rapidly rising property prices, and is there any sign of a slowdown on the horizon? Today, we delve into the dynamics at play with Meighan Wells from Property Pursuit. With over 20 years of experience, Meighan offers unparalleled insights into what’s happening on the ground in the Queensland capital. We explore the impact of the upcoming Olympics on Brisbane’s real estate and ask whether the hype around the games is really pushing property prices up? Meighan sheds light on how these dynamics are shaping the current market and what prospective buyers should be aware of. Beyond the Olympic effect, we examine other factors contributing to Brisbane’s rapid property price growth. Are there deeper, less obvious influences at play? Tune in to gain a comprehensive understanding of Brisbane’s property landscape and get expert advice from one of the city’s most seasoned professionals. Let's get started! Episode Highlights: 00:00 - Introduction 01:07 - Who is Meighan Wells? 01:48 - What are the latest trends in Brisbane’s real estate market? 05:18 - How has Brisbane’s real estate market changed since 2020 09:32 - What are the reasons behind the shift towards unit living in Brisbane? 13:54 - How is the tightening of borrowing capacity affecting buyer behaviour in Brisbane? 17:33 - Are buyers' desirability of suburbs shifting due to return-to-work changes? 25:45 - What is the current situation regarding rental availability and demand in Brisbane? 30:50 - How does the trend of multi-generational living affect property ownership patterns? 34:38 - What strategies are first-time home buyers employing to enter the market? 36:33 - What differences exist in buyer behaviour in Brisbane? 41:14 - Data on the nature of property transactions in Brisbane, 42:35 - Is the Olympics truly affecting Brisbane’s property market? 47:58 - How does Brisbane's cultural scene stack up against other cities for expatriates? 50:21 - Meighan Wells’ property dumbo About Our Guest: Meighan Wells is the Principal of Property Pursuit, co-founder of the Home Buyer Academy, and co-presenter of Your First Home Buyer Guide Podcast. She developed the REIQ course Acting as a Buyer’s Agent and was the Chairman of the REIQ Buyers’ Agent Chapter. In 2010, she was named REIQ Buyers Agent of the Year for the third consecutive year. A recognized expert on the Queensland property market, Meighan is frequently featured in major media outlets like The Financial Review and Realestate.com.au. Connect with Meighan Wells: LinkedIn https://www.linkedin.com/in/meighanwells/ Property Pursuit Website https://propertypursuit.com.au/ Home Buyer Academy https://homebuyeracademy.com.au/ Facebook https://www.facebook.com/MeighanPropertyPursuit/ 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 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 increasing housing supply alone effectively address our current affordability challenges, or is the housing crisis more accurately characterised as just a recurring issue with a new label? In this episode, we sit down with Dr. Cameron Murray, Chief Economist at Fresh Economic Thinking who specialises in property and urban development. We dive into the question of whether the term "crisis" accurately captures the challenges of the housing market, or if it's a situation we've already faced before under different names. Dr. Murray's new book, "The Great Housing Hijack," takes a critical look at the misconceptions driving up prices for both renters and buyers. We discuss whether simply building more houses is the key to solving the problem, or if there are deeper issues at play that need to be addressed. We've included a lot of relevant topics in this conversation including zoning changes and alternative solutions to the housing crisis, so tune in to get a clearer picture of the complex issues surrounding these property market issues. Episode Highlights: 00:00 - Introduction 01:14 - Who is Dr. Cameron Murray? 02:03 - What motivated Cameron to write the book “The Great Housing Hijack”? 06:06 - How do market equilibria affect the perception of a housing crisis? 14:32 - Why zoning changes won’t immediately create a development boom 17:14 - Who can assist with funding for housing development? 23:24 - Why Cameron disagrees with those who cite Auckland as proof that rezoning works 28:23 - Analysing the interplay between human behaviour and housing market trends 34:36 - Cameron shares his thoughts around NIMBY-ism 38:52 - Assessing factors that could stall long-term housing trends 46:24 - Why is the assumption that supply alone can solve the housing crisis flawed? 51:13 - Should public housing be considered as a potential solution for affordability issues? 55:57 - The importance of government action in ensuring access to affordable housing for all 59:29 - Potential strategies for government intervention to address housing affordability issues 1:01:13 - Cameron Murray’s property dumbo About Our Guest: Dr. Cameron Murray - Chief Economist at Fresh Economic Thinking who is a leading voice in Australia's housing conversations. He recently authored the book "The Great Housing Hijack." With experience as both a renter, homeowner, and landlord, as well as in property development, Dr. Murray brings a practical understanding to his analysis of housing issues. Connect with Cameron Murray: Website https://www.fresheconomicthinking.com/ LinkedIn https://www.linkedin.com/in/cameron-murray-39b63017/ Facebook https://www.facebook.com/fresheconomicthinking/ Resources mentioned in this episode: The Great Housing Hijack: The Hoaxes and Myths Keeping Prices High for Renters and Buyers in Australia https://www.amazon.com.au/Great-Housing-Hijack-keeping-Australia/dp/176147085X 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 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 month's Suburb Trends report for May 2024, we're diving deep into the world of property investment, exploring a critical issue that every investor should be aware of: false positives in property data. With the property market experiencing upward pressure on prices due to low supply, investors risk being misled by appearances, just like the allure of a dimly lit nightclub before the lights come on. Without the ability to distinguish between promising investments and pitfalls, investors may find themselves making pretty costly decisions based on misleading data. To shed light on this topic, Kent Lardner joins us to discuss strategies that will help in discerning between genuine opportunities and false positives. Together, we'll explore strategies for evaluating property data, spotting red flags, and making better investment decisions even in the midst of inflated markets. This is the beer goggles and property episode! Tune in to learn how to spot false positives in property data. Episode Highlights: 00:00 - Introduction 00:56 - How the "lights-on" moment aims to reveal hidden truths in property investments 03:49 - How can one mitigate the impact of external factors on property market analysis? 05:33 - What core factors should owner-occupiers prioritise when assessing property options? 09:35 - Is the current trend of investors targeting affordable properties sustainable? 14:18 - How can market players anticipate and respond to potential downturn scenarios? 19:01 - What are the real factors behind the increase in housing costs 21:03 - How are affordability ratios and wealth interconnected in suburban markets? 25:01 - The importance of macro and micro-level data when considering property investments 29:24 - Key factors influencing investment decisions in the real estate market 31:57 - Is there a risk of social unrest due to housing inequality? 37:26 - What are the current rental housing challenges in Melbourne and Sydney? 47:34 - What are the implications of the Docklands case study for urban development? 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: 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.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.

As Australia grapples with the ambitious challenge of constructing 1.2 million new dwellings in the next five years, we aim to answer the pressing question: Is this target attainable? We talk about the implications of this challenge, including the need to address housing pressure and determine suitable locations for new developments. Moreover, we discuss the potential impacts of immigration policies on housing demand and supply dynamics. Today's guest is Peter Tulip, Chief Economist at the Centre for Independent Studies whose expertise in housing and monetary policies, coupled with his advocacy for high-density living, underscores his credibility as a leading voice in the field, earning him the distinction of Australia’s oldest YIMBY. Join us in this episode as we dissect these complex issues and brainstorm innovative solutions. Don’t miss out on the opportunity to be a part of the conversation shaping Australia’s housing future and urban development. Episode Highlights: 00:00 - Introduction 00:58 - Who is Peter Tulip? 01:31 - What is the goal of the National Cabinet's housing initiative? 07:18 - What are the challenges associated with this housing initiative? 12:41 - Peter's insights on the heritage aspect of rezoning 16:09 - Primary challenges faced by developers in densely populated urban areas 20:24 - How rezoning and redevelopment could potentially affect property values 27:17 - Peter’s thoughts on RBA's current stance on inflation 35:58 - Considerations to take into account in determining sustainable immigration levels 40:53 - Is reducing student immigration an effective strategy to alleviate housing pressure? 42:50 - Are there tax policies that can be leveraged to incentivise increased housing supply? 46:35 - What are the potential impacts of increased housing supply on property values? 50:07 - Is there a need for an upzoning tax to fund public services and infrastructure upgrades? 55:33 - 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.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.

With property values stagnant amidst a backdrop of soaring prices in other cities, we explore the factors contributing to Melbourne's unique market behaviour. Could the city's prolonged lockdowns have played a significant role in shaping its property landscape? What does the future hold for buyers and sellers? Meanwhile, rising rents beg the question: how does this affect the apartment market? Today, Jarrod McCabe from Wakelin Property Advisory joins us to unpack these pressing questions. With more than two decades in the property industry – across valuations and investment advisory – Jarrod's expert analysis and insights aim to offer clarity on Melbourne's current property landscape. What could be the culprit behind Melbourne’s unusual property market behaviour? Tune in to learn all about Melbourne's property market and discover what's coming up next. This episode gives you helpful info you wouldn't want to miss. So hit that play button and let's dive in! Episode Highlights: 00:00 - Introduction 01:04 - Who is Jarrod McCabe? 01:22 - Trends observed in Melbourne's property market since the onset of COVID-19 02:44 - The recent trends in Melbourne's property market according to CoreLogic data 04:27 - How has the return to work influenced residential preferences in Melbourne? 06:14 - The shift in investor behaviour amidst rising rents and the rental crisis 10:57 - How does Melbourne's urban lifestyle impact property demand and rental dynamics? 14:25 - The impact of recent changes in land tax legislation on property investment behaviour 21:38 - Key factors contributing to Melbourne's resilience as a property investment destination 23:37 - What is happening with the population of Melbourne? 28:30 - Factors contributing to the disparity in property values between Melbourne and Sydney 30:44 - Can investors still find property investments in Melbourne with a budget of $1M? 35:22 - How Melbourne's property market responds to changing dynamics in house prices 39:08 - Planning controls evolving in suburban areas surrounding Melbourne's city center 42:45 - Jarrod McCabe’s property dumbo 45:33 - What's the impact of super Saturdays on Melbourne's clearance rate? About Our Guest: Jarrod McCabe, a property industry veteran with over two decades of experience, excels in valuations and investment advisory. His expertise in Melbourne's inner suburban market, combined with sharp negotiation skills, ensures successful outcomes for clients. As property team manager, Jarrod prioritizes understanding client needs while mentoring colleagues. Since completing his Bachelor of Business (Property) in 2000, he has risen to the role of Director at Wakelin Property Advisory, also serving as an active property educator through webinars, seminars, and media contributions. Connect with Jarrod McCabe: LinkedIn https://linkedin.com/in/jarrod-mccabe-81333034/ Website https://wakelin.com.au/ Podcast https://wakelin.com.au/education/podcasts/ 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 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.

Ever wondered why economists seem to favour land tax? What happens if we get rid of stamp duty on houses? And why do some people say negative gearing and capital gains tax discounts are bad? We're here to unpack these questions and more. Join us in this episode as we explore the often-debated topics of negative gearing and the capital gains tax discount with Chief Economist Michael Blythe, whose recent paper, "In Praise of Negative Gearing" has stirred up quite a buzz. We dive into the insights and arguments he presents and uncover the nexus between property taxes and housing market behaviour. Whether you own a home, rent, or just want to know more, this episode is for you. Hit play and let's get into the nitty-gritty of property taxes and the housing market! Episode Highlights: 00:00 - Introduction 01:06 - Who is Michael Blythe? 01:43 - What role does tax play in property market challenges? 03:49 - Historical context: Negative gearing and CGT discounts 10:03 - Did property prices really slow down without negative gearing? 17:06 - How has the ACT's taxation change affected property prices? 25:37 - The pros and cons of an expensive property market from a societal standpoint 29:46 - Is negative gearing detrimental to both home buyers and renters, as some argue? 34:36 - Where does the economy currently stand in terms of inflation control? 37:37 - Is the economy headed for higher prices and a cost-of-living crisis? 40:00 - The limitations of using interest rates as a tool to manage inflation 44:17 - The downsides of downsizing 50:29 - How does the aged care system impact housing availability? 52:04 - The interplay between property investing, negative gearing, and taxpayer costs 57:27 - Michael Blythe’s property dumbo About Our Guest: Michael Blythe is a respected Chief Economist and senior executive with extensive experience in economic policy and financial markets. He has worked across both Commonwealth Bank of Australia and Reserve Bank of Australia and brings great knowledge of, and insight into, the Australian and global economy, economic policy and markets. Connect with Michael Blythe: LinkedIn https://www.linkedin.com/in/michael-blythe-272a1688/ Website https://www.downsizer.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.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.

What is driving the relentless rise in Australia's property prices, and how are homeowners managing as the fixed mortgage rates from the COVID era expire? These are important questions as we deal with rising inflation and increasing living costs, so in this episode, we tackle these issues to see how they're affecting both the housing market and potential buyers. Joining us to break down these complex topics is Carlos Cacho, Chief Economist at Jarden Australia. Carlos has a deep understanding of Australian economics, especially banking and housing markets, thanks to his previous roles at UBS Australia and Colonial First State Global Asset Management. He holds a Bachelor of Economics and a First Class Honours in Economics from the University of New South Wales, making him a highly credible voice on these matters. Make sure to tune into this episode for a thorough analysis of the current economic pressures on Australia's property market and what they could mean for the future. Equip yourself with the insights needed to better understand these challenging economic times. Episode Highlights: 00:00 - Introduction 01:08 - Who is Carlos Cacho? 01:30 - What led Carlos to oppose the common view on reducing serviceability buffers? 06:20 - Does lowering the serviceability buffer improve affordability or just increase prices? 08:48 - Will increasing urban density in Sydney truly improve housing affordability? 12:40 - What factors contribute to continued property price increases in most cities? 18:35 - Key differences in the apartment and house markets in major cities 20:36 - Do seasonal trends affect real estate listings? 26:43 - Will higher interest rates persist longer than anticipated? 32:05 - Could we see a return to the economic conditions similar to those before 2022? 36:27 - Is climate change becoming a big driver for investment around the world? 38:44 - The impact of high interest rates on economic stability over the next decade 44:15 - What are the anticipated migration trends for the upcoming years? 50:38 - Are we meeting our labor demands through skills migration? 52:05 - Carlos Cacho’s property dumbo About Our Guest: Carlos Cacho is Chief Economist and leads Australian bank research at Jarden in Australia. Carlos’ research covers all things Australian Economics and Banks, with the strong focus on the housing market. Prior to joining Jarden, Carlos spent three years as Australian Economist at UBS Australia, and previously five years at Colonial First State Global Asset Management. Carlos holds a Bachelor of Economics, as well as a First Class Honours in Economics from the University of New South Wales.  Connect with Carlos Cacho: LinkedIn https://www.linkedin.com/in/carlosscacho/ Website https://www.jardengroup.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 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.

Ever wondered why people end up spending more than they planned at auctions? What about the missed opportunities for vendors due to ineffective auctioning practices? These common pitfalls not only impact individual transactions but also shape the broader dynamics of the auction process. In this episode, we're joined by award-winning auctioneer Andy Reid to understand why these problems happen at auctions and how to solve them. We explore why people get caught up in bidding wars and what sellers can do to get better results, then break down the tricks of the trade and give you practical tips to do auctions smarter. Tune in to gain a competitive edge in the fast-paced world of property auctions and learn how to avoid the common mistakes that can cost you money. Join us for a chat that could change the way you approach auctions. Episode Highlights: 00:00 - Introduction 01:04 - Who is Andy Reid? 02:14 - Is it true that the buyer with the deepest pockets always wins the auction? 06:30 - Examples of auctions benefiting buyers more than sellers 09:51 - How does an auctioneer provide value with limited preparation time? 11:20 - What insights does an auctioneer gain from reviewing auction contracts? 17:27 - What briefing can buyers expect from agents before auctions? 22:45 - Auctioneer strategies in balancing silence and pace in auctions 25:46 - Why buyers should research the auctioneer before attending an auction 30:20 - Stories of shocking auctioneer mistakes 34:25 - Understanding vendor bids: their purpose and usage by auctioneers 39:44 - The legislative aspect of negotiating at the reserve price in Victoria 47:37 - Passing in a property at auction 50:19 - Declaring a property "on the market" during an auction 55:28 - Andy Reid’s property dumbo 57:43 - Final advice for auction bidders and one major mistake to steer clear of About Our Guest: Andy Reid is an award-winning sales coach and top auctioneer in Real Estate known for his emphasis on emotional intelligence and mental health advocacy. Recognized as the Australian Auctioneer of The Year in 2022, Andy owns a thriving auctioneering business serving over 130 agents/agencies in Metro Melbourne. With a 'human first, agent second' approach, he has helped thousands of homeowners navigate Real Estate transactions. Andy's commitment to community extends to raising over $3 million for charities since 2015, making a difference through public speaking, auctioneering, and networking. As an ambassador for mental health charity '100 Words - Mate To Mate,' Andy promotes professional success while highlighting the importance of emotional and intellectual intelligence. Connect with Andy Reid: Website https://andyreid.com.au/ LinkedIn https://www.linkedin.com/in/andyreidcoaching/ Instagram https://www.instagram.com/andyreidcoaching/ Facebook https://www.facebook.com/andyreidcoaching 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 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.

Depending on a potentially biased strata report could lead to problems later on, like unexpected costs or hidden issues with the property.  Without clarity on what might be omitted or misrepresented in these reports, buyers risk making decisions based on incomplete or biased information, therefore jeopardising their investment. Today, we are joined by Michael Ferrier, the founder and MD of EYEON Property Inspections — who has been in the property business for more than 15 years now. With a decade and a half dedicated to perfecting property inspections, Michael's here to help us decipher the characteristics of a reliable report and whether or not it's smart to trust them from the seller's side. Michael explains what needs to be seen in these reports and how they can help you decide if you want to buy a place. He talks about looking for missing info and warning signs that could mean trouble later on. So, if you're thinking about buying a place—whether it's your first time or not—this episode is for you. Tune in as we break down strata reports and learn how to make smarter choices when it comes to buying property. Episode Highlights: 00:00 - Introduction 01:03 - Who is Michael Ferrier? 01:57 - Thoughts on the issues surrounding strata companies about potential misconduct 04:50 - Strata managers’ fees haven’t gone up in 15 years 07:27 - Do undisclosed commissions have an impact on strata reporting? 13:15 - Statutory regulations regarding strata management in NSW 14:35 - Who writes a strata report? Do they need to be qualified? 17:06 - What do buyers typically do once they get a strata report? 21:48 - What does a strata report look like? 25:13 - Red flags you need to spot in a strata report 30:05 - Will properties with clear strata info soon fetch higher prices? 32:23 - Determining a good, moderate, average strata report 36:13 - Key factors to focus on when assessing insurance details in strata reports 39:07 - What are the consequences of owners' reliance on underpaid strata managers? 41:46 - How are strata managers handling maintenance issues in aging buildings? 47:26 - Insights on urban development and zoning regulations 49:09 - Michael Ferrier’s property dumbo About Our Guest: Michael Ferrier is the founder and MD of EYEON Property Inspections. Michael founded EYEON because he saw the opportunity to turn a cottage industry into a professional level service, offering high quality reports and outstanding customer support to property buyers and sellers. Michael has over 35 years of experience across government policy, financial services, banking, franchising, building small businesses, and, of course, property. A keen golfer and rugby nut, Michael says that finding solutions to common problems is very rewarding. The challenge is that solutions often require a change in behaviour. Connect with Michael Ferrier: Website: https://www.eyeon.com.au/ LinkedIn: https://www.linkedin.com/in/mferrier/ 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 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.