1
00:00:05,640 --> 00:00:08,320
Speaker 1: Welcome to Fear and Greed, summer investing series brought to

2
00:00:08,360 --> 00:00:11,799
Speaker 1: you by Vanta, specialists in compliance led growth. I'm Sean

3
00:00:11,840 --> 00:00:15,360
Speaker 1: Aylmer telling property this year. It pays to keep across

4
00:00:15,400 --> 00:00:18,880
Speaker 1: the trends. Alice Salt is the national property editor at Domain.

5
00:00:19,280 --> 00:00:20,800
Speaker 1: Alice welcome back to Fear and Greed.

6
00:00:21,160 --> 00:00:22,439
Speaker 2: Thanks Sean. Great to be here.

7
00:00:22,880 --> 00:00:24,799
Speaker 1: What are we looking at for the next twelve months?

8
00:00:24,800 --> 00:00:26,960
Speaker 1: What are the trends we should be thinking about. I

9
00:00:27,000 --> 00:00:29,000
Speaker 1: don't want to talk about elections, but does the election,

10
00:00:29,080 --> 00:00:30,479
Speaker 1: the fact that we're going to have a federal election

11
00:00:30,520 --> 00:00:32,120
Speaker 1: in the next four or five months matter.

12
00:00:32,280 --> 00:00:34,879
Speaker 2: For the property market. I think it's a distraction. It's

13
00:00:34,920 --> 00:00:36,400
Speaker 2: going to be something that gets in the way of

14
00:00:36,440 --> 00:00:39,080
Speaker 2: people being able to buy and sell. Everybody will become

15
00:00:39,479 --> 00:00:43,360
Speaker 2: monumentally fatigued by it, but it's something that has to happen. Thankfully,

16
00:00:43,400 --> 00:00:46,440
Speaker 2: we need this in a democracy. But I do think

17
00:00:46,560 --> 00:00:49,680
Speaker 2: though it often holds people back from making a decision.

18
00:00:50,120 --> 00:00:51,839
Speaker 2: And I think also if there is a change of

19
00:00:51,840 --> 00:00:55,040
Speaker 2: government that also makes people think differently and perhaps a

20
00:00:55,120 --> 00:00:59,000
Speaker 2: little bit more philosophically optimistically about what's ahead. We've seen

21
00:00:59,040 --> 00:01:02,200
Speaker 2: in the US as this idea about the Trump bump,

22
00:01:02,400 --> 00:01:05,160
Speaker 2: this idea that areas like Palm Beach in Florida and

23
00:01:05,200 --> 00:01:07,080
Speaker 2: that are kind of having a bit of a renaissance

24
00:01:07,120 --> 00:01:10,840
Speaker 2: because obviously that's heartland for Trump. And there's also talk

25
00:01:10,840 --> 00:01:13,960
Speaker 2: about tax reform and housing becoming cheaper in the US.

26
00:01:14,000 --> 00:01:16,240
Speaker 2: We haven't seen, obviously yet any meat on the bone

27
00:01:16,240 --> 00:01:19,080
Speaker 2: of how that's actually going to play out, but there

28
00:01:19,200 --> 00:01:21,800
Speaker 2: is that sort of, I guess, halo effect of when

29
00:01:21,800 --> 00:01:24,000
Speaker 2: a new government comes in a bit of excitement and

30
00:01:24,040 --> 00:01:27,160
Speaker 2: curiosity about what might happen. So we'll have to get

31
00:01:27,200 --> 00:01:30,640
Speaker 2: through that. We also hopefully, hopefully will very soon have

32
00:01:30,840 --> 00:01:32,960
Speaker 2: rate cuts, and that was something very much to look

33
00:01:33,000 --> 00:01:36,959
Speaker 2: forward to. I also think markets such as the Sunshine Coasts,

34
00:01:36,959 --> 00:01:39,600
Speaker 2: the Gold Coast, that sort of Golden Arc people are

35
00:01:39,600 --> 00:01:42,600
Speaker 2: calling it now is just going to likely just keep

36
00:01:43,040 --> 00:01:46,440
Speaker 2: getting bigger, fatter, and more expensive. Now that's kind of

37
00:01:46,440 --> 00:01:48,640
Speaker 2: incredible when you think about an area that used to

38
00:01:48,640 --> 00:01:51,880
Speaker 2: be a bit sort of daggy and where where grain

39
00:01:51,960 --> 00:01:58,400
Speaker 2: nomads respectfully went to schoolies schoolies exactly both ends of

40
00:01:58,400 --> 00:02:01,720
Speaker 2: the spectrum. But now you know, the property prices there

41
00:02:01,760 --> 00:02:04,360
Speaker 2: have just exploded over the past years. It's a lot

42
00:02:04,360 --> 00:02:07,800
Speaker 2: of international investment coming there. There's a lot of migration

43
00:02:07,880 --> 00:02:10,200
Speaker 2: into state, migration coming there, a lot of Brisbane Nites

44
00:02:10,280 --> 00:02:13,560
Speaker 2: moving there. So I think we're really seeing a shake

45
00:02:13,639 --> 00:02:17,560
Speaker 2: up of the prestige markets in Australia and that's moving around.

46
00:02:17,600 --> 00:02:20,440
Speaker 2: They're not the traditional sort of eastern suburbs or north

47
00:02:20,440 --> 00:02:22,680
Speaker 2: Shore of Sydney or just the Tuak areas of Melbourne.

48
00:02:22,720 --> 00:02:26,120
Speaker 2: That's really evolving where we're seeing that prestige part of

49
00:02:26,120 --> 00:02:26,560
Speaker 2: the market.

50
00:02:27,120 --> 00:02:29,400
Speaker 1: What about population growth, We've had plenty of it in

51
00:02:29,480 --> 00:02:32,440
Speaker 1: the past couple of years. What does that mean for

52
00:02:32,480 --> 00:02:34,280
Speaker 1: the market and what do you think will happen in

53
00:02:34,320 --> 00:02:36,000
Speaker 1: the next twelve months or so.

54
00:02:36,280 --> 00:02:40,840
Speaker 2: I think population wise, when we see that growth come

55
00:02:40,880 --> 00:02:45,520
Speaker 2: in and those people go to regional areas such as Geelong, Newcastle, Wollongong,

56
00:02:45,720 --> 00:02:49,000
Speaker 2: we will definitely keep seeing prices rising there and many

57
00:02:49,040 --> 00:02:51,880
Speaker 2: of them will become million dollar areas and that process,

58
00:02:52,480 --> 00:02:56,720
Speaker 2: I think also we will hopefully begin to see brave

59
00:02:56,800 --> 00:03:00,800
Speaker 2: governments actually get the infrastructure ticking along there to supporting

60
00:03:00,800 --> 00:03:03,280
Speaker 2: that growth in those areas. But I do also think

61
00:03:03,320 --> 00:03:06,400
Speaker 2: we'll see cities such as Melbourne that really have to

62
00:03:06,560 --> 00:03:10,320
Speaker 2: be stretching out further because of the affordability thing there.

63
00:03:10,320 --> 00:03:12,839
Speaker 2: We know Melbourn's medians around a million dollars a lot

64
00:03:12,880 --> 00:03:14,799
Speaker 2: more one point six million in Sydney at the moment,

65
00:03:14,919 --> 00:03:18,040
Speaker 2: So particularly newly arrived people will find it very hard

66
00:03:18,080 --> 00:03:20,160
Speaker 2: to set up camp in Sydney, and they're more likely

67
00:03:20,200 --> 00:03:22,600
Speaker 2: to choose cities such as Melbourne, Adelaide, Brisbane. And I

68
00:03:22,600 --> 00:03:25,480
Speaker 2: think Melbourne is more interesting for them because jobs wise,

69
00:03:25,480 --> 00:03:29,120
Speaker 2: employment wise, salary wise, it's kind of like Sydney. Having

70
00:03:29,160 --> 00:03:30,799
Speaker 2: said that, just a lot cheaper.

71
00:03:31,360 --> 00:03:33,400
Speaker 1: What about first home buys? I think, you know, in

72
00:03:33,400 --> 00:03:34,720
Speaker 1: the right up to the election, we're going to get

73
00:03:34,720 --> 00:03:37,320
Speaker 1: lots of policies. We know the government as it stands

74
00:03:37,320 --> 00:03:39,840
Speaker 1: at the moment wants to build about two hundred and

75
00:03:39,920 --> 00:03:43,360
Speaker 1: forty thousand homes a year when no we need that.

76
00:03:43,840 --> 00:03:48,200
Speaker 1: Do you think that we will get infrastructure spending government

77
00:03:48,280 --> 00:03:50,640
Speaker 1: spending to help particularly first home buys.

78
00:03:51,120 --> 00:03:53,320
Speaker 2: I hope so, because I do think things like that

79
00:03:53,360 --> 00:03:56,040
Speaker 2: are actually what's going to sort of fundamentally shift the

80
00:03:56,040 --> 00:03:58,560
Speaker 2: way we think about it. I think we are definitely

81
00:03:58,560 --> 00:04:01,640
Speaker 2: seeing a trend though in and you know, the sort

82
00:04:01,680 --> 00:04:04,200
Speaker 2: of the way that first home buyers are approaching that

83
00:04:04,280 --> 00:04:06,280
Speaker 2: idea of the great Australian dream, and I'm sort of

84
00:04:06,320 --> 00:04:09,560
Speaker 2: personally quite grateful that they are finally sort of smelling

85
00:04:09,600 --> 00:04:11,960
Speaker 2: the coffee and going with it, because they're now evolving

86
00:04:12,040 --> 00:04:13,920
Speaker 2: what they want from a property. Once upon a time,

87
00:04:13,920 --> 00:04:15,400
Speaker 2: you know, even a couple of years ago, they wanted

88
00:04:15,440 --> 00:04:17,720
Speaker 2: a quarterac a block, pick at fence, et cetera. And

89
00:04:17,760 --> 00:04:21,039
Speaker 2: now there are actually many are compromising and saying a

90
00:04:21,040 --> 00:04:23,280
Speaker 2: one or two bedroom apartment in the location that I

91
00:04:23,440 --> 00:04:26,120
Speaker 2: like is better than nothing, and we're seeing them make

92
00:04:26,160 --> 00:04:29,400
Speaker 2: that compromise those who want to, you know, but it

93
00:04:29,480 --> 00:04:31,840
Speaker 2: still remains an incredibly tough time to be a first

94
00:04:31,880 --> 00:04:34,080
Speaker 2: home buy and the hardest it's ever been to buy

95
00:04:34,120 --> 00:04:36,000
Speaker 2: property in Australia at the moment.

96
00:04:36,560 --> 00:04:38,480
Speaker 1: I've got to pick you up on being a property person.

97
00:04:38,720 --> 00:04:41,000
Speaker 1: Smell the coffee. Most of us smell the rasores. You

98
00:04:41,040 --> 00:04:44,080
Speaker 1: smell the coffee. That's because of your job, so absolutely.

99
00:04:44,480 --> 00:04:48,320
Speaker 1: What's the top tip for a buyer wanting to get

100
00:04:48,360 --> 00:04:51,080
Speaker 1: into the market, or maybe it's someone who's downsizing, maybe

101
00:04:51,120 --> 00:04:53,640
Speaker 1: it's someone who's suddenly got an extra couple of kids

102
00:04:53,680 --> 00:04:56,320
Speaker 1: and need a new house. What's the top tip for

103
00:04:56,360 --> 00:04:59,520
Speaker 1: twenty twenty five from Alis Stolts from domain.

104
00:05:00,360 --> 00:05:02,279
Speaker 2: Look, it sounds really boring, but I think you have

105
00:05:02,360 --> 00:05:05,080
Speaker 2: to do your research and due diligence. I'm talking your

106
00:05:05,120 --> 00:05:09,000
Speaker 2: own crazy, pimped up, amped up spreadsheet which has got

107
00:05:09,040 --> 00:05:11,719
Speaker 2: your own data about what's happening in auction wise, clearance

108
00:05:11,800 --> 00:05:14,760
Speaker 2: rate wise track those properties yourself. I think you really

109
00:05:14,800 --> 00:05:18,119
Speaker 2: need to rely on that to see what that market's doing. Also,

110
00:05:18,160 --> 00:05:20,000
Speaker 2: have your rode up for your five year plan. Where

111
00:05:20,000 --> 00:05:21,400
Speaker 2: do you want to be in five years and how

112
00:05:21,440 --> 00:05:23,640
Speaker 2: are you going to get there? I guess and Sean

113
00:05:23,760 --> 00:05:26,080
Speaker 2: sounds a bit superficial here, but also get on board

114
00:05:26,080 --> 00:05:28,720
Speaker 2: with this new trend that's hitting property in twenty twenty five.

115
00:05:28,920 --> 00:05:31,039
Speaker 2: It's the cozy trend. And this is not about lots

116
00:05:31,040 --> 00:05:33,560
Speaker 2: of cushions and throws and everything. It's about creating this

117
00:05:33,760 --> 00:05:38,600
Speaker 2: unique cocooning environment in your own house and embracing that individuality.

118
00:05:38,880 --> 00:05:41,000
Speaker 2: So I think we're going to definitely see more of that,

119
00:05:41,040 --> 00:05:43,080
Speaker 2: and I kind of like it because I think you

120
00:05:43,120 --> 00:05:45,680
Speaker 2: do you and I think that's a better thing than fomo,

121
00:05:45,720 --> 00:05:49,120
Speaker 2: which has been fueling our markets for way too many years.

122
00:05:49,600 --> 00:05:52,760
Speaker 1: Fantastic, Alice, Thanks for your time, Thank you, Sean. That

123
00:05:52,839 --> 00:05:56,520
Speaker 1: was Alice Stultz's National Property editor at Domain. Remember to

124
00:05:56,520 --> 00:05:59,440
Speaker 1: get your own independent advice before making decisions. This is

125
00:05:59,480 --> 00:06:02,440
Speaker 1: Fear and Greed Summer Investing series brought to you by Vanta.

126
00:06:02,560 --> 00:06:07,000
Speaker 1: Vanta automates compliance for frameworks like ISO twenty seven one,

127
00:06:07,400 --> 00:06:09,960
Speaker 1: SoC two, CPS two three four in essentially eate saving

128
00:06:10,000 --> 00:06:12,880
Speaker 1: time and money while building trust. Join over eight thousand

129
00:06:12,880 --> 00:06:15,839
Speaker 1: companies like at Lassian, Dovetail and fire Ant managing real

130
00:06:15,880 --> 00:06:18,960
Speaker 1: time risk in one thousand dollars off at vanter dot com.

131
00:06:19,120 --> 00:06:23,560
Speaker 1: Slash Fear and Greed. I'm Sean Elmer. Enjoy your day