1 00:00:01,720 --> 00:00:04,640 Speaker 1: Harry Kumer, Welcome to Property in Sites. Thanks for having 2 00:00:04,680 --> 00:00:05,920 Speaker 1: me all the way from Tasmania. 3 00:00:06,280 --> 00:00:07,560 Speaker 2: Yeah, two hours away. 4 00:00:07,680 --> 00:00:08,080 Speaker 1: Wow. 5 00:00:08,240 --> 00:00:08,560 Speaker 2: Yeah. 6 00:00:08,680 --> 00:00:11,719 Speaker 1: And you're a director and an agent obviously real estate 7 00:00:11,720 --> 00:00:14,680 Speaker 1: agent or an agent at Peter's Wald Hobart is now 8 00:00:14,720 --> 00:00:18,160 Speaker 1: I say Peters w Peterswald. Yeah, yeah, that Peter's World. 9 00:00:19,200 --> 00:00:20,599 Speaker 1: Or is that a surname for somebody? 10 00:00:20,640 --> 00:00:24,280 Speaker 2: It is a surname of somebody. I think the origin 11 00:00:24,320 --> 00:00:26,360 Speaker 2: is German. Yeah, it sounds like I could be wrong, 12 00:00:26,360 --> 00:00:27,200 Speaker 2: but yeah, Peter's Wold. 13 00:00:27,800 --> 00:00:31,280 Speaker 1: And is that a that's a residential agent and or 14 00:00:31,320 --> 00:00:31,920 Speaker 1: commercial agent. 15 00:00:32,120 --> 00:00:37,200 Speaker 2: I'm just residential in gob Yeah, twenty years, primary residential 16 00:00:37,240 --> 00:00:42,400 Speaker 2: real estate agency in the last twelve months now rentals as. 17 00:00:42,320 --> 00:00:43,959 Speaker 1: Well, right, it's Renabook. 18 00:00:44,120 --> 00:00:47,440 Speaker 2: Yeah, but that's fresh on the scene, so prominently known 19 00:00:47,479 --> 00:00:54,600 Speaker 2: for me middle to higher end sales throughout Hobart. I'd 20 00:00:54,640 --> 00:00:57,400 Speaker 2: like to think if you have a nice property in 21 00:00:57,440 --> 00:00:59,120 Speaker 2: the greater Hobart area that we would be on the 22 00:00:59,120 --> 00:00:59,760 Speaker 2: shopping list. 23 00:01:00,320 --> 00:01:01,920 Speaker 1: Yeah. I thought it's such a vendors. 24 00:01:02,000 --> 00:01:02,200 Speaker 2: Yeah. 25 00:01:02,200 --> 00:01:04,200 Speaker 1: Absolutely, Well that's what you had to talk about. So 26 00:01:04,440 --> 00:01:06,679 Speaker 1: what part of that is I can't I can't, I 27 00:01:06,680 --> 00:01:12,400 Speaker 1: can't believe this, but recognized you that as you recognized 28 00:01:12,440 --> 00:01:16,080 Speaker 1: last last year twenty twenty four by real estate dot 29 00:01:16,120 --> 00:01:21,560 Speaker 1: com dot Tasmanian in Tasmanian Agent of the Year. Yes, congratulations, 30 00:01:21,560 --> 00:01:26,720 Speaker 1: thank you named rate my agent's top sales Agent Tasmania 31 00:01:26,800 --> 00:01:29,760 Speaker 1: twenty two, twenty three, twenty four, Yes, twenty five. 32 00:01:29,880 --> 00:01:34,080 Speaker 2: Yeah, well who knows? When's that February next year? Okay? 33 00:01:34,160 --> 00:01:38,120 Speaker 1: Yes, it's a year in arrears, so to speak. That's 34 00:01:38,160 --> 00:01:41,520 Speaker 1: mad like gone off awards here, Like what does it 35 00:01:41,560 --> 00:01:43,640 Speaker 1: take to get those awards? Is it based on a 36 00:01:43,720 --> 00:01:48,600 Speaker 1: number of transactions or total volume dollars or or around? 37 00:01:48,600 --> 00:01:51,440 Speaker 2: Good guy, Well, there's a couple of different ones, and 38 00:01:51,440 --> 00:01:53,640 Speaker 2: they're probably a good thing to chat about and just 39 00:01:53,640 --> 00:01:58,400 Speaker 2: put on blast in a way that I smile today 40 00:01:58,400 --> 00:01:59,760 Speaker 2: when you know you get them all reeled off and 41 00:01:59,800 --> 00:02:02,200 Speaker 2: I think, here we go, all these awards and it's 42 00:02:02,240 --> 00:02:04,440 Speaker 2: just there was a moment in time where they were 43 00:02:04,480 --> 00:02:06,680 Speaker 2: really important to me and now in. 44 00:02:06,640 --> 00:02:09,880 Speaker 1: A way, now you've got them. 45 00:02:10,400 --> 00:02:12,880 Speaker 2: Yeah. I suppose, like most things, like once once you've 46 00:02:12,880 --> 00:02:15,080 Speaker 2: got them more or hunted or achieved them, then they 47 00:02:15,760 --> 00:02:19,680 Speaker 2: potentially mean less. I shouldn't equally take any acclaim away 48 00:02:19,680 --> 00:02:22,000 Speaker 2: from them, and that as as an agency in myself, 49 00:02:22,040 --> 00:02:24,200 Speaker 2: like I worked hard to achieve them. The wrote my 50 00:02:24,280 --> 00:02:28,200 Speaker 2: agent one is a good one because it is consumer based. 51 00:02:28,639 --> 00:02:31,040 Speaker 2: It's not about a proposal. It is, but it is 52 00:02:31,200 --> 00:02:33,760 Speaker 2: it is an algorithm that we don't know the back 53 00:02:33,840 --> 00:02:36,639 Speaker 2: end to, but it is a total number of sales 54 00:02:37,400 --> 00:02:41,200 Speaker 2: reviews achieved for the sales from the vendor point of view, 55 00:02:41,240 --> 00:02:44,920 Speaker 2: not the buyer yep. And then total total volume of 56 00:02:44,960 --> 00:02:48,760 Speaker 2: sales and lucky enough just to be on top for 57 00:02:48,919 --> 00:02:49,679 Speaker 2: a few years now. 58 00:02:49,720 --> 00:02:52,919 Speaker 1: And what about is that that's based. 59 00:02:52,680 --> 00:02:55,079 Speaker 2: On a newer award. I think it's been running now 60 00:02:55,120 --> 00:02:59,280 Speaker 2: for two years and that also seems to be its 61 00:02:59,280 --> 00:03:02,920 Speaker 2: own algorithm. But I'm not in touch enough to understand 62 00:03:02,960 --> 00:03:05,640 Speaker 2: how they do it, but it seems to be relatively fair, 63 00:03:05,680 --> 00:03:10,400 Speaker 2: Like when you look at the outcome, I've got a 64 00:03:10,440 --> 00:03:13,200 Speaker 2: lot of great colleagues back home, not not just at 65 00:03:13,200 --> 00:03:16,720 Speaker 2: our agency, but who art realist that agents, I'd argue 66 00:03:16,720 --> 00:03:19,440 Speaker 2: a relatively good people. And when you look at the list, 67 00:03:21,240 --> 00:03:24,239 Speaker 2: I suppose I feel fairly comfortable that the list feels 68 00:03:24,639 --> 00:03:28,280 Speaker 2: somewhat accurate in terms of like reasonable people and good operators. 69 00:03:28,320 --> 00:03:30,360 Speaker 1: Well, congratulations, I love to know what you think it 70 00:03:30,440 --> 00:03:34,520 Speaker 1: is that actually you do that works for you? 71 00:03:35,280 --> 00:03:39,080 Speaker 2: I was, I was thinking about this, and I don't 72 00:03:39,120 --> 00:03:41,680 Speaker 2: know if I've got the silver bullet in terms of 73 00:03:42,520 --> 00:03:47,080 Speaker 2: it's not necessarily just one thing in particular. I think 74 00:03:47,160 --> 00:03:51,160 Speaker 2: early on it was it was probably like work ethic. 75 00:03:51,520 --> 00:03:57,760 Speaker 2: I think watching my parents and how they how they 76 00:03:57,840 --> 00:04:00,720 Speaker 2: applied themselves every day in terms of like the effort 77 00:04:00,880 --> 00:04:03,640 Speaker 2: that they put in, and I think that translated well 78 00:04:03,640 --> 00:04:05,160 Speaker 2: to me for real estate, and that I didn't have 79 00:04:05,200 --> 00:04:06,760 Speaker 2: a plan. B. This was it for me. 80 00:04:08,480 --> 00:04:09,520 Speaker 1: Make that work. You've got it. 81 00:04:09,600 --> 00:04:13,920 Speaker 2: Yeah, I got to make and enjoyed it too. Every day. 82 00:04:14,240 --> 00:04:19,520 Speaker 2: Loved the hunt, the chase. It wasn't tiring, even though 83 00:04:19,560 --> 00:04:22,200 Speaker 2: the sort of the effort that was put in was significant. 84 00:04:23,960 --> 00:04:26,400 Speaker 2: But then I suppose I reflect it, it's almost like 85 00:04:26,440 --> 00:04:28,680 Speaker 2: a marathon in that is just like when you look back, 86 00:04:28,720 --> 00:04:31,839 Speaker 2: it's like, oh wow, I've been chipping away client by client, 87 00:04:31,920 --> 00:04:35,520 Speaker 2: just focused on relationships and people and a transaction, and 88 00:04:35,520 --> 00:04:36,840 Speaker 2: then you look back it's like, oh wow, there's a 89 00:04:36,880 --> 00:04:41,400 Speaker 2: thousand of them now and a thousand relatively positive transactions. 90 00:04:41,760 --> 00:04:45,480 Speaker 2: I suppose accumulate to something at the end. But I 91 00:04:45,480 --> 00:04:48,520 Speaker 2: don't know if it's a particular particular element of sorts. 92 00:04:49,360 --> 00:04:52,080 Speaker 1: And you talk about vendors of course, yeah, a thousand 93 00:04:52,400 --> 00:04:55,080 Speaker 1: transactions for vendors who are your clients. Yes, but you 94 00:04:55,160 --> 00:04:58,000 Speaker 1: obviously make relationships with the purchaser to Becasultimately there's got 95 00:04:58,080 --> 00:05:03,159 Speaker 1: to be a purchaser. But those indoors when they as 96 00:05:03,279 --> 00:05:07,040 Speaker 1: part of your game, is getting repeat work. So many 97 00:05:07,080 --> 00:05:11,479 Speaker 1: of those thousands transactions coming from you know, people over 98 00:05:11,480 --> 00:05:12,080 Speaker 1: and over again. 99 00:05:12,200 --> 00:05:16,320 Speaker 2: Yeah, absolutely, yeah, and I think if you speak to 100 00:05:16,400 --> 00:05:21,160 Speaker 2: many agents, but to get easier over time, Yeah, the 101 00:05:21,400 --> 00:05:24,400 Speaker 2: longer that you play our game, the easy that it gets. 102 00:05:24,960 --> 00:05:27,280 Speaker 2: If you're a reasonable operator, yeah I should add that. 103 00:05:27,320 --> 00:05:29,440 Speaker 2: But if you're a reasonable person, the longer that you play, 104 00:05:29,520 --> 00:05:32,159 Speaker 2: the easier that it gets. That you've just built long lasting, 105 00:05:32,240 --> 00:05:36,160 Speaker 2: trusting connection and that's that's it's actually, I suppose more 106 00:05:36,240 --> 00:05:38,679 Speaker 2: enjoyable these days because you get phone calls from people 107 00:05:38,680 --> 00:05:41,760 Speaker 2: that you actually love. I think, oh, like, these are 108 00:05:41,800 --> 00:05:44,760 Speaker 2: beautiful people. I can't wait to help them again. And 109 00:05:45,000 --> 00:05:49,400 Speaker 2: it's not about commissions of dollar figures anymore. It's about 110 00:05:49,440 --> 00:05:52,360 Speaker 2: them and their journey and maybe there's some secrets in that. 111 00:05:52,839 --> 00:05:55,280 Speaker 1: Do you give in contact with everybody? I mean you can't. 112 00:05:55,320 --> 00:05:57,119 Speaker 1: There's thousand of people but you couldn't ring a thousand 113 00:05:57,120 --> 00:05:58,880 Speaker 1: in a week, but do. 114 00:05:58,800 --> 00:06:01,720 Speaker 2: You as best I can. Yeah, I've felt the strain 115 00:06:03,240 --> 00:06:07,000 Speaker 2: over the last three years, more so of trying to 116 00:06:07,080 --> 00:06:10,880 Speaker 2: keep on top of everything. But there would if you know, 117 00:06:11,160 --> 00:06:13,880 Speaker 2: three years ago, perhaps if you asked me about a 118 00:06:13,920 --> 00:06:18,679 Speaker 2: transaction or a person. I again, perhaps a bit element 119 00:06:18,720 --> 00:06:20,839 Speaker 2: of luck, but I just happened to just know I 120 00:06:20,880 --> 00:06:23,240 Speaker 2: could pick them on the street and introduce myself and 121 00:06:23,279 --> 00:06:25,359 Speaker 2: remember the connection, and just it would come to me. 122 00:06:25,400 --> 00:06:28,559 Speaker 2: And that's probably just time in the saddle fifteen years 123 00:06:28,600 --> 00:06:32,760 Speaker 2: of doing one thing. I suppose you, actually you keep 124 00:06:33,000 --> 00:06:35,040 Speaker 2: reasonable at something, you will. 125 00:06:34,960 --> 00:06:37,160 Speaker 1: Probably be able to use AI at some stage where 126 00:06:37,320 --> 00:06:39,920 Speaker 1: at the mcluander will say, you know, this is Mark 127 00:06:40,000 --> 00:06:43,160 Speaker 1: Boris's say, is one of your begers. It's his birthday 128 00:06:43,200 --> 00:06:46,279 Speaker 1: and would you like would you like me to write 129 00:06:46,640 --> 00:06:50,400 Speaker 1: a nice note to Mark? And we have a the 130 00:06:50,520 --> 00:06:53,440 Speaker 1: AI agent might review the notes in your file going 131 00:06:53,520 --> 00:06:57,200 Speaker 1: back ten years. It says Mark's got three kids, two 132 00:06:57,360 --> 00:07:01,000 Speaker 1: or just being born, his wife Mary lou, he loves this, that, 133 00:07:01,040 --> 00:07:04,960 Speaker 1: and the other football teams this, and then AI might 134 00:07:05,000 --> 00:07:07,800 Speaker 1: be able to write you a beautiful email and you 135 00:07:07,880 --> 00:07:09,040 Speaker 1: can just prove it and. 136 00:07:08,960 --> 00:07:12,640 Speaker 2: Send it off absolutely, and I think that's not far off. Well, 137 00:07:12,680 --> 00:07:15,640 Speaker 2: and is it even honest? I remember looking at it 138 00:07:15,680 --> 00:07:16,040 Speaker 2: is honest. 139 00:07:16,400 --> 00:07:19,360 Speaker 1: It's your information. If it's trained on your data. 140 00:07:19,960 --> 00:07:22,560 Speaker 2: Yeah, sure understood. Because there is there is a platform 141 00:07:22,600 --> 00:07:25,320 Speaker 2: that is out there. I think it's called Rita, and 142 00:07:25,560 --> 00:07:29,600 Speaker 2: Rita this is before even AI and they were it's 143 00:07:29,640 --> 00:07:32,160 Speaker 2: this theory and it's like, wow, how does that even work? 144 00:07:32,240 --> 00:07:35,280 Speaker 2: How does that happen? And now it's been I suppose 145 00:07:35,360 --> 00:07:37,640 Speaker 2: Rita was an early form of AIL as a product 146 00:07:37,720 --> 00:07:40,960 Speaker 2: that does something like this, but these days it would 147 00:07:41,000 --> 00:07:45,840 Speaker 2: be so much more refined. As in your voice, oh wow, 148 00:07:46,000 --> 00:07:47,640 Speaker 2: even that AO. 149 00:07:47,520 --> 00:07:50,560 Speaker 1: Can put in your voice. Again, we play remember Little 150 00:07:50,560 --> 00:07:52,559 Speaker 1: all the time, but AO can do it in your voice. 151 00:07:52,680 --> 00:07:55,960 Speaker 1: It'll use your language. It's going to learn your language. 152 00:07:55,960 --> 00:07:57,800 Speaker 1: I'll learn you from your notes and it'll see how 153 00:07:57,880 --> 00:08:00,640 Speaker 1: you how you write notes and scary, over time, it 154 00:08:00,760 --> 00:08:04,360 Speaker 1: might listen to a speech you've made and it can 155 00:08:04,560 --> 00:08:07,760 Speaker 1: it can train it on everything about you, and all 156 00:08:07,800 --> 00:08:11,720 Speaker 1: of a sudden, it's got Harry. It's Harry Koomber's voice. 157 00:08:11,760 --> 00:08:14,840 Speaker 1: And you know, you could even make a digital twin 158 00:08:14,880 --> 00:08:18,080 Speaker 1: of yourself and you you could set a message to 159 00:08:18,160 --> 00:08:21,720 Speaker 1: your digital twin. But that's still about Hobart. Now, it's 160 00:08:21,720 --> 00:08:24,520 Speaker 1: still about Tasmania House, Tasmani going as a state in 161 00:08:24,560 --> 00:08:26,800 Speaker 1: terms of because I have read some stats in Tasmani 162 00:08:27,040 --> 00:08:30,000 Speaker 1: prisive sort of not grown as much as the rest 163 00:08:30,000 --> 00:08:30,480 Speaker 1: of the country. 164 00:08:30,640 --> 00:08:34,920 Speaker 2: No, no, So we're we're obviously a huge COVID post 165 00:08:35,000 --> 00:08:38,440 Speaker 2: COVID boom. Yeah, we were from the graphs that I 166 00:08:38,480 --> 00:08:41,000 Speaker 2: look at and educate my clients on. But we were 167 00:08:41,040 --> 00:08:43,760 Speaker 2: the pretty estate. We were a safe state. We're a 168 00:08:43,760 --> 00:08:47,080 Speaker 2: happy state. Someone who escapes to absolutely, and we had 169 00:08:47,120 --> 00:08:49,800 Speaker 2: a lot of that, had a lot of people returning home, 170 00:08:49,880 --> 00:08:52,040 Speaker 2: like a lot of Tasmanians leave and then they return 171 00:08:52,120 --> 00:08:57,040 Speaker 2: home once they've found their feet, so it's a common path. 172 00:08:57,080 --> 00:08:58,320 Speaker 2: So we saw a lot of that, and then a 173 00:08:58,320 --> 00:09:01,160 Speaker 2: lot of people obviously feeling the past of what COVID 174 00:09:02,800 --> 00:09:05,200 Speaker 2: was doing and then naturally wanted to escape that. So 175 00:09:05,280 --> 00:09:09,400 Speaker 2: we were a safe haven, which obviously then prices boomed. 176 00:09:10,320 --> 00:09:13,320 Speaker 2: Perhaps we would due something to that degree, but nothing 177 00:09:13,320 --> 00:09:15,559 Speaker 2: that obviously we could predict to that magnitude. 178 00:09:15,640 --> 00:09:17,240 Speaker 1: And then it's flipped back the other way it. 179 00:09:17,200 --> 00:09:20,839 Speaker 2: Has and then equally the counter obviously reaction of that 180 00:09:20,960 --> 00:09:23,439 Speaker 2: is that the markets have been hit significant I think 181 00:09:23,480 --> 00:09:26,520 Speaker 2: one of the hardest. When you look at the annualized 182 00:09:26,920 --> 00:09:29,319 Speaker 2: property track graphs, you can see that we hit the 183 00:09:29,320 --> 00:09:33,000 Speaker 2: bottom and we didn't bounce that far either. A lot 184 00:09:33,080 --> 00:09:34,920 Speaker 2: of the other capital city seem to recover a bit 185 00:09:34,960 --> 00:09:37,640 Speaker 2: quicker than us, and we've been probably trying to get 186 00:09:37,679 --> 00:09:40,360 Speaker 2: our way out of that over the last eighteen months 187 00:09:40,400 --> 00:09:43,520 Speaker 2: to two years. What are we now, like seven point 188 00:09:43,760 --> 00:09:47,880 Speaker 2: three percent still behind our peak where other capital cities 189 00:09:47,920 --> 00:09:49,520 Speaker 2: are still chasing their peak. 190 00:09:49,640 --> 00:09:51,920 Speaker 1: Could I ask you this question, does that mean when 191 00:09:51,920 --> 00:09:56,080 Speaker 1: you say some point three percent behind your peak? Prices 192 00:09:56,200 --> 00:09:59,360 Speaker 1: on average in Tasmania are some point does that mean 193 00:09:59,600 --> 00:10:02,520 Speaker 1: there's point three percent cheaper than they were when during 194 00:10:02,559 --> 00:10:05,000 Speaker 1: the peak? Correct prices have gone down. 195 00:10:05,320 --> 00:10:08,079 Speaker 2: Prices are down by seven point three percent. 196 00:10:08,120 --> 00:10:10,320 Speaker 1: And if you you would know better than anybody. But 197 00:10:10,400 --> 00:10:12,520 Speaker 1: if you were just strate I mean, obviously seven with 198 00:10:12,600 --> 00:10:14,840 Speaker 1: three is an average. So if you were to stratify that, 199 00:10:14,960 --> 00:10:16,440 Speaker 1: is it at the top end or the bottom end, 200 00:10:16,520 --> 00:10:17,840 Speaker 1: or the middle end or everywhere? 201 00:10:17,880 --> 00:10:19,000 Speaker 2: I would say everywhere? 202 00:10:19,280 --> 00:10:21,599 Speaker 1: Yeah, But is it more prevalent? Say like, does it 203 00:10:21,720 --> 00:10:23,880 Speaker 1: mean that if it's average seventy three the bottoms two 204 00:10:23,920 --> 00:10:25,480 Speaker 1: point could be two point three, the top could be 205 00:10:25,480 --> 00:10:28,760 Speaker 1: twelve point three. Therefore the averages were three legs it 206 00:10:28,840 --> 00:10:30,719 Speaker 1: like that, or is that sort of seven point three 207 00:10:30,760 --> 00:10:34,400 Speaker 1: in every category. 208 00:10:32,760 --> 00:10:37,240 Speaker 2: It would be the the first of the equations that 209 00:10:37,320 --> 00:10:39,200 Speaker 2: you described, I would imagine. 210 00:10:38,880 --> 00:10:41,920 Speaker 1: Greater greater percentage of the top end. Yes, yeah, yeah, yeah, 211 00:10:42,400 --> 00:10:45,400 Speaker 1: So that's that's interesting. And so does it mean that 212 00:10:45,440 --> 00:10:49,240 Speaker 1: there would you consider there's bargains sort of in. 213 00:10:49,800 --> 00:10:53,800 Speaker 2: No, I don't think so. Perhaps it's all relative to 214 00:10:54,840 --> 00:10:58,480 Speaker 2: what we needed equally, as in like we were a 215 00:10:58,679 --> 00:11:00,400 Speaker 2: cheap state. I think that for that. 216 00:11:00,600 --> 00:11:02,800 Speaker 1: Yeah, and now coming off a load base. 217 00:11:02,760 --> 00:11:04,880 Speaker 2: Correct, so we've played a bit of a bit of 218 00:11:04,920 --> 00:11:07,040 Speaker 2: catch up. But then equally we've come back a bit. 219 00:11:07,080 --> 00:11:08,760 Speaker 2: But then if you look at the five year growth, 220 00:11:08,840 --> 00:11:12,760 Speaker 2: we're up thirty six percent. So when we talk about 221 00:11:12,800 --> 00:11:15,280 Speaker 2: like we cheap, no, we still had a great boom. 222 00:11:15,800 --> 00:11:19,120 Speaker 2: And the prices now what medium? So our prices is 223 00:11:20,120 --> 00:11:23,360 Speaker 2: this is for Hobart in general, but I think house 224 00:11:23,520 --> 00:11:27,959 Speaker 2: dwelling house six sixty five, I think it is. Our 225 00:11:28,000 --> 00:11:31,960 Speaker 2: agency's average is about nine fifty nine hundred nine fifty. 226 00:11:32,040 --> 00:11:34,360 Speaker 2: So it's a it's a touch different, and that's because 227 00:11:34,400 --> 00:11:38,319 Speaker 2: we're based in Hobart and naturally service the closest suburbs 228 00:11:38,320 --> 00:11:41,160 Speaker 2: to the city within a forty five minute drive essentially. 229 00:11:41,240 --> 00:11:44,240 Speaker 1: So there's not that many units in hobo tho the well. 230 00:11:44,120 --> 00:11:44,880 Speaker 2: Not high rises. 231 00:11:45,000 --> 00:11:46,160 Speaker 1: Yeah, yeah, certainly. 232 00:11:46,320 --> 00:11:48,240 Speaker 2: You know, obviously coming to Sydney today and you look up, 233 00:11:48,280 --> 00:11:51,920 Speaker 2: there's a lot to see. Hobarts are just a small 234 00:11:52,120 --> 00:11:55,560 Speaker 2: piece you've been, I'm sure. Yeah, there's not much there. 235 00:11:55,600 --> 00:11:59,640 Speaker 2: And in way of development too, there's there's not a 236 00:11:59,800 --> 00:12:03,920 Speaker 2: heat happening either in comparison to other capital cities. 237 00:12:04,000 --> 00:12:07,680 Speaker 1: What about if someone is buying some of from the mainland, 238 00:12:07,720 --> 00:12:10,600 Speaker 1: for example, is buyers a place in Hobart, what are 239 00:12:10,600 --> 00:12:13,360 Speaker 1: the chances of rent renting and Hobart legas Hobart a 240 00:12:13,400 --> 00:12:15,240 Speaker 1: good rental place for an investor. 241 00:12:15,360 --> 00:12:20,840 Speaker 2: Yeah, rental demand is reasonable at the moment, so if 242 00:12:20,880 --> 00:12:23,400 Speaker 2: you within reason. But if you've bought a property anywhere 243 00:12:23,400 --> 00:12:26,640 Speaker 2: around Hoe But if if you're if you're asking price 244 00:12:26,720 --> 00:12:29,120 Speaker 2: is fair for rent, it will it will be rentable. 245 00:12:29,320 --> 00:12:32,040 Speaker 1: But do you say it's like a five percent a year? 246 00:12:32,240 --> 00:12:33,559 Speaker 1: What sort of fair. 247 00:12:34,640 --> 00:12:37,439 Speaker 2: Let's say start in the city perhaps four to four 248 00:12:37,480 --> 00:12:40,400 Speaker 2: and a half and then work as far out as 249 00:12:40,720 --> 00:12:43,400 Speaker 2: perhaps Glenorky and then what is that maybe like six 250 00:12:43,520 --> 00:12:44,160 Speaker 2: six and a half. 251 00:12:44,440 --> 00:12:46,320 Speaker 1: Oh, you get a better yield further out. 252 00:12:46,200 --> 00:12:51,920 Speaker 2: Further out you go. Yeah, prices are cheaper, but rents 253 00:12:51,480 --> 00:12:52,400 Speaker 2: a hold. 254 00:12:52,240 --> 00:12:56,000 Speaker 1: Up ye a bit? Yeah, okay. So and because if 255 00:12:56,040 --> 00:12:58,920 Speaker 1: you go to Adelaida's Legs zero percent vacancy rate has 256 00:12:59,000 --> 00:13:01,320 Speaker 1: been for years for a whole lot of reasons. City 257 00:13:01,400 --> 00:13:02,280 Speaker 1: is too probably. 258 00:13:02,160 --> 00:13:03,880 Speaker 2: The most one point eight. 259 00:13:04,160 --> 00:13:07,600 Speaker 1: Yeah, it's close enough. It was Hobart at one point. Yeah, 260 00:13:07,600 --> 00:13:10,240 Speaker 1: it was still very low. Yeah. So land tax in 261 00:13:10,600 --> 00:13:11,040 Speaker 1: does Meania? 262 00:13:11,080 --> 00:13:11,520 Speaker 2: Absolutely? 263 00:13:11,880 --> 00:13:16,040 Speaker 1: Yeah? Is it as bad as Victoria? I'm Victoria's fifty 264 00:13:16,080 --> 00:13:19,160 Speaker 1: thousand dollars. After the first fifty thousand dollars on improved 265 00:13:19,200 --> 00:13:21,320 Speaker 1: value of the land, you started paying land tax. 266 00:13:21,440 --> 00:13:24,240 Speaker 2: Sure, I would hate to comment. I'm not sure of, 267 00:13:24,440 --> 00:13:27,040 Speaker 2: but I know we've got land tax and it's not pretty. Yeah, 268 00:13:27,160 --> 00:13:30,720 Speaker 2: people aren't comfortable with land tax. In Hobart there's uproar and. 269 00:13:31,200 --> 00:13:33,200 Speaker 1: You get an exemption if it's you're if you're on 270 00:13:33,200 --> 00:13:36,680 Speaker 1: an occupier. Absolutely, yeah, no land what's stamp duty? Which 271 00:13:36,720 --> 00:13:39,199 Speaker 1: is stamp duty? You pay stamped it's about four percent 272 00:13:39,800 --> 00:13:42,280 Speaker 1: a little bit higher than New South Wales. Sure mind 273 00:13:42,320 --> 00:13:43,520 Speaker 1: you your purchabos lower. 274 00:13:44,080 --> 00:13:47,360 Speaker 2: Yeah. Yeah, and then we've got concessions. Of course, first 275 00:13:47,400 --> 00:13:51,880 Speaker 2: home buyers can avoid stamp duty by buying under seven fifty, right, Yeah, 276 00:13:51,960 --> 00:13:53,640 Speaker 2: it's a key in the market, which. 277 00:13:53,520 --> 00:13:55,120 Speaker 1: Would be quite a lot of property. 278 00:13:55,200 --> 00:13:57,440 Speaker 2: Yeah, yeah, would be. Yeah, I'm not not in the 279 00:13:57,559 --> 00:14:01,000 Speaker 2: likes of Sandy Bay, Battery Point Meetings, our price there 280 00:14:01,080 --> 00:14:03,600 Speaker 2: is beyond that. You're not buying your first time there, 281 00:14:04,080 --> 00:14:09,960 Speaker 2: but a good suburb Linda's Varnhauer. You're certainly buying under 282 00:14:09,960 --> 00:14:12,280 Speaker 2: seven fifty or three bedroom, one bathroom brick home. 283 00:14:12,600 --> 00:14:14,959 Speaker 1: Wow. Yeah, there's not been place in Australia that you 284 00:14:15,000 --> 00:14:15,440 Speaker 1: can do that. 285 00:14:15,760 --> 00:14:17,400 Speaker 2: No, I think we're still very lucky. 286 00:14:17,600 --> 00:14:24,720 Speaker 1: Yeah. Yeah. And in terms of employment unemployment like just 287 00:14:24,800 --> 00:14:28,560 Speaker 1: generally speaking, is is Tasmania generally or maybe let's just 288 00:14:28,600 --> 00:14:32,320 Speaker 1: look at Hobart, just Hobart doing well, like is economically 289 00:14:32,640 --> 00:14:37,000 Speaker 1: do you think Philla's doing well? What's the vibe? 290 00:14:37,720 --> 00:14:44,120 Speaker 2: What do people the vibe feels you try to I've 291 00:14:44,160 --> 00:14:47,320 Speaker 2: been a round doing what I'm doing for fifteen odd years. 292 00:14:47,320 --> 00:14:51,600 Speaker 2: Has it watched a few things? I would say that 293 00:14:51,640 --> 00:14:59,240 Speaker 2: the hope, Yeah, the Hobart vibe is is good. It's 294 00:14:59,240 --> 00:15:02,080 Speaker 2: not We're not. There's a lot of talk about this stadium. 295 00:15:02,560 --> 00:15:03,480 Speaker 2: Everyone wants to talk about. 296 00:15:03,520 --> 00:15:06,440 Speaker 1: So that was an election promise. So so did the one 297 00:15:06,440 --> 00:15:10,640 Speaker 1: who made the election promise about the stadium win? So 298 00:15:10,680 --> 00:15:12,000 Speaker 1: you're going to get the stadium. 299 00:15:12,280 --> 00:15:14,880 Speaker 2: It's still on everyone's lips. I'm not sure. Yeah, it 300 00:15:14,960 --> 00:15:19,800 Speaker 2: changes important, do you it feels important? It depends for 301 00:15:19,840 --> 00:15:22,440 Speaker 2: real estateum to about Oh, I think it feels good 302 00:15:22,440 --> 00:15:25,080 Speaker 2: for real estate. Yeah, I think from a real estate 303 00:15:25,120 --> 00:15:25,920 Speaker 2: point of view, it's good. 304 00:15:25,920 --> 00:15:28,920 Speaker 1: And it was with the state. You get a team absolutely, yeah. Yeah, 305 00:15:29,040 --> 00:15:31,200 Speaker 1: without a really without a esteem, you don't get a team. 306 00:15:31,560 --> 00:15:32,400 Speaker 1: I understand it. 307 00:15:32,480 --> 00:15:34,160 Speaker 2: There was comments to say though that we could have 308 00:15:34,160 --> 00:15:35,920 Speaker 2: a team without a stadium as well. And there's there's 309 00:15:35,960 --> 00:15:39,200 Speaker 2: people in that boat too, that one team with no stadium. 310 00:15:39,200 --> 00:15:41,600 Speaker 2: I don't want to their words, but waste the money 311 00:15:41,600 --> 00:15:44,560 Speaker 2: on that. But yeah, yeah, yeah, I'll stay on the fence. 312 00:15:44,920 --> 00:15:48,480 Speaker 1: Yeah. So if Tasmania to me, every time I go 313 00:15:48,480 --> 00:15:52,120 Speaker 1: there always is busy, my money hanging out hobud. But 314 00:15:52,120 --> 00:15:55,480 Speaker 1: there's always a lot of tourists, like tourism still, especially 315 00:15:55,480 --> 00:15:57,800 Speaker 1: this time of Yeah. I think it's the events though, 316 00:15:58,280 --> 00:15:59,520 Speaker 1: the events event driven here. 317 00:16:00,040 --> 00:16:02,960 Speaker 2: Yeah, like you come down at when dark Mofo is 318 00:16:03,000 --> 00:16:06,360 Speaker 2: on at the winter face, it is noticeably different. There 319 00:16:06,400 --> 00:16:09,000 Speaker 2: is a harm and a vibe to Salamanca and the city. 320 00:16:09,440 --> 00:16:12,720 Speaker 2: There is just things happening that that we're not accustomed to. 321 00:16:13,680 --> 00:16:16,640 Speaker 2: And then I think of summer periods as well, with 322 00:16:16,720 --> 00:16:20,240 Speaker 2: cruise ships. Our office were blessed. We're in Salamanca, like 323 00:16:20,320 --> 00:16:23,760 Speaker 2: right in the heart. Yeah, where ships dock and you 324 00:16:23,920 --> 00:16:25,920 Speaker 2: walk out for coffee and you go, okay, there's a 325 00:16:25,920 --> 00:16:26,240 Speaker 2: boat in. 326 00:16:26,280 --> 00:16:26,880 Speaker 1: It's pretty good. 327 00:16:26,920 --> 00:16:29,200 Speaker 2: It's heaving, Yeah, yeah it is. It is cool. Yeah, 328 00:16:29,280 --> 00:16:33,720 Speaker 2: yeah it is. But you feel it season seasonally, you could. 329 00:16:34,440 --> 00:16:36,400 Speaker 2: I don't think there's any current events on in Hobe, 330 00:16:36,440 --> 00:16:38,400 Speaker 2: but you go down to Salamanca today and it almost 331 00:16:38,800 --> 00:16:39,520 Speaker 2: might feel. 332 00:16:39,320 --> 00:16:43,080 Speaker 1: A little differences. There's always We've held a few down 333 00:16:43,120 --> 00:16:46,000 Speaker 1: there actually about my business, the al Gro. We've been 334 00:16:46,000 --> 00:16:48,360 Speaker 1: down the three times, at least three big events. We 335 00:16:48,600 --> 00:16:53,560 Speaker 1: saw the hotel down I don't know what direction is, 336 00:16:53,560 --> 00:16:57,240 Speaker 1: but towards the bridge. So the hotel down there. 337 00:16:56,880 --> 00:16:58,440 Speaker 2: Our Grand Grand Chancellor. 338 00:16:58,600 --> 00:17:01,440 Speaker 1: Yeah, yeah, it's in the heart of three four hundred 339 00:17:01,480 --> 00:17:05,600 Speaker 1: people up there. Sometimes because my gut feeling is that 340 00:17:05,680 --> 00:17:09,760 Speaker 1: Tasmania is quite a vibrant place. Like economically, it just 341 00:17:09,800 --> 00:17:12,120 Speaker 1: seems to be busy. Things seem to be humming along 342 00:17:12,200 --> 00:17:15,040 Speaker 1: quite well. I mean, you're obviously doing quite well in 343 00:17:15,119 --> 00:17:17,800 Speaker 1: terms of real estate prices. Where do you see real 344 00:17:17,880 --> 00:17:21,400 Speaker 1: estate continuing to grow and demand growing? 345 00:17:22,520 --> 00:17:26,600 Speaker 2: Yeah? I like our populations part of that conversation too, 346 00:17:26,640 --> 00:17:29,080 Speaker 2: And there isn't much growth happening there. 347 00:17:29,320 --> 00:17:31,080 Speaker 1: Really, people aren't moving to Tasmania live. 348 00:17:31,240 --> 00:17:31,480 Speaker 2: No. 349 00:17:31,720 --> 00:17:31,880 Speaker 1: No. 350 00:17:31,960 --> 00:17:34,560 Speaker 2: I was looking up some of the some of the 351 00:17:34,680 --> 00:17:38,399 Speaker 2: data supporting it, but it's like, it's awful. Really, we've hovered, 352 00:17:38,480 --> 00:17:41,720 Speaker 2: we've hovered out five hundred and fifty odd thousand for 353 00:17:41,800 --> 00:17:45,520 Speaker 2: the last like five six years. But it hasn't changed 354 00:17:45,520 --> 00:17:50,119 Speaker 2: a great deal. That's certainly not supporting the notion of 355 00:17:50,680 --> 00:17:51,560 Speaker 2: much more growth. 356 00:17:51,600 --> 00:17:51,840 Speaker 1: I think. 357 00:17:51,840 --> 00:17:55,639 Speaker 2: I think interest rates seem to move the needle a 358 00:17:55,760 --> 00:17:57,560 Speaker 2: touch you do to that, yeah, yeah, and you can 359 00:17:57,560 --> 00:18:00,800 Speaker 2: see that in the thirteen rate rises. It didn't stop 360 00:18:00,840 --> 00:18:03,320 Speaker 2: our market, but it hurt our market and there was 361 00:18:03,359 --> 00:18:07,200 Speaker 2: that adjustment period to recover. And then since we've seen 362 00:18:08,560 --> 00:18:14,280 Speaker 2: or is it now reductions three rate reductions yesterday, yes, 363 00:18:16,400 --> 00:18:19,040 Speaker 2: the two previous you could you could see a little 364 00:18:19,080 --> 00:18:24,280 Speaker 2: bit more by confidence showing. And again it depends on 365 00:18:24,320 --> 00:18:26,440 Speaker 2: how you speak to I'm I'm sure you're more in 366 00:18:26,480 --> 00:18:30,240 Speaker 2: the know than I. But perhaps it's more the feeling 367 00:18:31,000 --> 00:18:34,080 Speaker 2: of the interest rate reduction than it is actually the 368 00:18:34,119 --> 00:18:36,640 Speaker 2: outcome of sorts of as to what does that change 369 00:18:36,680 --> 00:18:39,320 Speaker 2: to their borrowing capacity? Perhaps not a great deal. 370 00:18:39,400 --> 00:18:41,960 Speaker 1: Do you have much supply of new stuff? We have 371 00:18:42,040 --> 00:18:42,359 Speaker 1: lots of. 372 00:18:42,960 --> 00:18:46,800 Speaker 2: New products, new development? No, No, I think in a word, 373 00:18:47,880 --> 00:18:54,960 Speaker 2: we get the odd development. But no, yeah, there's not 374 00:18:55,000 --> 00:18:57,439 Speaker 2: a heap of new development happening all the time when 375 00:18:57,480 --> 00:18:59,440 Speaker 2: you think of high rises and that side of things 376 00:18:59,440 --> 00:19:02,400 Speaker 2: that there are there are buildings and that are undergone 377 00:19:02,400 --> 00:19:05,240 Speaker 2: construction as we speak. But it's not a common path. 378 00:19:05,960 --> 00:19:10,200 Speaker 1: So if you own property yourself in doesn't So if 379 00:19:10,200 --> 00:19:13,040 Speaker 1: you're going to invest, where would you invest in as many? 380 00:19:13,160 --> 00:19:14,720 Speaker 1: You know you're in the know, so where would you 381 00:19:14,760 --> 00:19:15,600 Speaker 1: invest in many? 382 00:19:17,320 --> 00:19:21,560 Speaker 2: Well, part of some of the questions that I've I 383 00:19:21,640 --> 00:19:24,639 Speaker 2: was preparing for today, I was I was noting that 384 00:19:24,880 --> 00:19:28,280 Speaker 2: the And it was interesting because you sort of you 385 00:19:28,359 --> 00:19:31,280 Speaker 2: go through the motions of not necessarily understood reading the 386 00:19:31,359 --> 00:19:35,639 Speaker 2: data daily just to feel and perhaps my gut feel 387 00:19:35,680 --> 00:19:38,240 Speaker 2: to where the market was. There was even a little 388 00:19:38,240 --> 00:19:40,840 Speaker 2: adjusting in my own mind as to how things are 389 00:19:40,840 --> 00:19:45,480 Speaker 2: traveling talking about regional versus inner city, and that it 390 00:19:45,560 --> 00:19:54,280 Speaker 2: appears to be that regional regional towns like Brighton, which 391 00:19:54,320 --> 00:19:57,040 Speaker 2: is what like a thirty thirty five minute drive from 392 00:19:57,040 --> 00:20:00,280 Speaker 2: the Hobart CD. Yeah, like it's not. 393 00:20:00,280 --> 00:20:01,840 Speaker 1: Origional from here is like six hours. 394 00:20:01,840 --> 00:20:04,040 Speaker 2: I know, right, it's it is so different, it's so 395 00:20:04,119 --> 00:20:09,639 Speaker 2: different the concept. But a regional suburb like that that 396 00:20:09,720 --> 00:20:12,520 Speaker 2: has a relatively low medium sururprice, like you buy a 397 00:20:12,600 --> 00:20:15,160 Speaker 2: unit there for four hundred, perhaps a house for five 398 00:20:15,160 --> 00:20:20,280 Speaker 2: point fifty, that feels like a safer bet in terms 399 00:20:20,320 --> 00:20:23,080 Speaker 2: if you wanted something affordable for somebody to jump into 400 00:20:23,840 --> 00:20:26,600 Speaker 2: near enough guarantee rent, because it'd be affordable rent to 401 00:20:27,880 --> 00:20:31,280 Speaker 2: somewhere like Brighton would be a good option out of 402 00:20:31,320 --> 00:20:35,840 Speaker 2: lying something's even like like Rogby Surreal. There are just 403 00:20:35,920 --> 00:20:38,800 Speaker 2: suburbs on the outskirts that are still quite affordable. 404 00:20:38,880 --> 00:20:41,560 Speaker 1: And would you would you say to somebody look in 405 00:20:41,600 --> 00:20:45,320 Speaker 1: Tasmania at least if you want to like a safer 406 00:20:45,520 --> 00:20:49,320 Speaker 1: or more assured resale, you're better buying a house, better 407 00:20:49,400 --> 00:20:51,880 Speaker 1: buying a juber house than buying a same brain new apartment. 408 00:20:52,440 --> 00:20:55,880 Speaker 2: Absolutely, yeah, yeah, I'd find I'd say that the more 409 00:20:55,920 --> 00:20:58,080 Speaker 2: common correlation with us, maybe due to the lack of 410 00:20:58,119 --> 00:21:01,280 Speaker 2: apartment purchases. Might be though, do you buy a little 411 00:21:01,280 --> 00:21:04,159 Speaker 2: bit closer in there's both houses house in Brighton or 412 00:21:04,200 --> 00:21:06,480 Speaker 2: a house in Glenorchy, and the house in Glenorky is 413 00:21:06,480 --> 00:21:09,680 Speaker 2: going to have a slightly lesser yield, but is probably 414 00:21:09,720 --> 00:21:10,520 Speaker 2: easier to sell. 415 00:21:10,760 --> 00:21:13,800 Speaker 1: Why because it's closer in right, closer to Hoey. 416 00:21:13,840 --> 00:21:19,040 Speaker 2: Yeah, I'm not sure what the relative suburbs are for 417 00:21:19,400 --> 00:21:21,200 Speaker 2: you here. How far out do you have. 418 00:21:21,200 --> 00:21:24,640 Speaker 1: To go there? General thumb here that value is used 419 00:21:24,640 --> 00:21:26,800 Speaker 1: a bit of If it's more than forty minutes from 420 00:21:26,800 --> 00:21:31,200 Speaker 1: the CBD in Sydney, it's it's going to have it's 421 00:21:31,200 --> 00:21:34,600 Speaker 1: going to have like a marginally more trouble selling it. Sure, 422 00:21:35,040 --> 00:21:38,280 Speaker 1: So forty minutes seems to be the limit, Yes, okay, 423 00:21:38,320 --> 00:21:41,840 Speaker 1: so that'll take it probably the paramount past Paramatta closer 424 00:21:41,880 --> 00:21:44,320 Speaker 1: to Campbelltown, getting close to Campbelltown. 425 00:21:43,880 --> 00:21:44,840 Speaker 2: Place on that journey. 426 00:21:45,000 --> 00:21:48,200 Speaker 1: Yeah, okay, So it's a distance thing here, it's travel 427 00:21:48,240 --> 00:21:51,560 Speaker 1: time and travel distance. Yes, yeah, so forty minutes is 428 00:21:51,560 --> 00:21:53,960 Speaker 1: probably the distance now, forty minutes and as many as 429 00:21:54,160 --> 00:21:55,760 Speaker 1: from Hope, it's quite a while way. 430 00:21:55,720 --> 00:21:58,600 Speaker 2: Oh it is, And I think, but probably a good 431 00:21:58,600 --> 00:22:03,280 Speaker 2: segue into a conversation piece around that distance. So it's 432 00:22:03,320 --> 00:22:05,560 Speaker 2: really common for us to have somebody from interstate call 433 00:22:06,280 --> 00:22:10,800 Speaker 2: and their boundaries are so open, which is unusually. I 434 00:22:10,840 --> 00:22:13,560 Speaker 2: know instantly that you're not from not from around here, 435 00:22:14,600 --> 00:22:19,080 Speaker 2: and then there's just way too many options at that point. 436 00:22:19,240 --> 00:22:22,359 Speaker 2: There's seventy five thousand homes in the areas that we 437 00:22:22,400 --> 00:22:24,320 Speaker 2: sell and if they say, oh, we want to be 438 00:22:24,359 --> 00:22:27,359 Speaker 2: within forty minutes, like, well, that's everything, when I need 439 00:22:27,400 --> 00:22:30,720 Speaker 2: to like, we need to tighten this up a bit. Yeah, 440 00:22:30,760 --> 00:22:32,760 Speaker 2: So it's just it's just different from that point of view. 441 00:22:32,800 --> 00:22:36,280 Speaker 1: And what are you experiencing terms of inquiry from in 442 00:22:36,320 --> 00:22:37,840 Speaker 1: the state. Did you get as much a growth in 443 00:22:37,880 --> 00:22:40,280 Speaker 1: the state as you would locally? I'm not too bad 444 00:22:40,280 --> 00:22:41,720 Speaker 1: to see vendors, but I'm too a bad bias. 445 00:22:42,000 --> 00:22:44,159 Speaker 2: Sure, Well, the stat that supports that, I think it 446 00:22:44,200 --> 00:22:46,719 Speaker 2: is somewhere between nineteen and twenty percent is interstate purchase 447 00:22:46,720 --> 00:22:47,200 Speaker 2: at the moment. 448 00:22:48,160 --> 00:22:49,800 Speaker 1: Does it come out in New South Wales? Can you 449 00:22:49,840 --> 00:22:50,760 Speaker 1: see where it's coming from? 450 00:22:50,920 --> 00:22:53,720 Speaker 2: No, we can't see in the data where it's coming from. 451 00:22:54,320 --> 00:22:57,800 Speaker 2: Off my head, though it doesn't come from one state 452 00:22:57,840 --> 00:23:00,680 Speaker 2: in particular. Right, like I've sold property to everyone from 453 00:23:00,720 --> 00:23:06,440 Speaker 2: every state. Yes, absolutely, inquiry comes. 454 00:23:06,200 --> 00:23:08,080 Speaker 1: From all over, whether it be investors or a. 455 00:23:09,720 --> 00:23:13,919 Speaker 2: Variety, predominantly though on occupy, So people moving there, people 456 00:23:13,920 --> 00:23:16,600 Speaker 2: moving here. Yes, that's interesting that. 457 00:23:16,920 --> 00:23:18,800 Speaker 1: Because I know a lot of people doing that for 458 00:23:18,800 --> 00:23:22,000 Speaker 1: South Australia or Adelaide. Yes, I didn't realize that that 459 00:23:22,080 --> 00:23:24,760 Speaker 1: was a similar thing for Hobart, and it is this 460 00:23:24,840 --> 00:23:27,159 Speaker 1: happening in all the other parts of herb like Lawnchestern, 461 00:23:28,440 --> 00:23:31,159 Speaker 1: like lawn Cestern, et cetera. It's just just particular what 462 00:23:31,200 --> 00:23:32,320 Speaker 1: you're talking about to Hobart. 463 00:23:32,400 --> 00:23:35,800 Speaker 2: No, the data supports that lawn system has even a 464 00:23:35,840 --> 00:23:39,440 Speaker 2: stronger desire for mainland interest. 465 00:23:39,880 --> 00:23:41,119 Speaker 1: People are more interested in launches. 466 00:23:42,240 --> 00:23:44,960 Speaker 2: I would have thought yields because the from from what 467 00:23:45,080 --> 00:23:47,640 Speaker 2: I don't work in that market, but from what I understand, 468 00:23:47,680 --> 00:23:49,960 Speaker 2: the purchase price is less again, but you're in the 469 00:23:50,000 --> 00:23:53,360 Speaker 2: city and the return is stronger. 470 00:23:52,920 --> 00:23:54,879 Speaker 1: Again, like greater than five percent. 471 00:23:55,040 --> 00:23:57,000 Speaker 2: Yeah, that's what I'm reading. 472 00:23:57,480 --> 00:24:00,119 Speaker 1: And whatever the compbal gains I mean is these a 473 00:24:00,119 --> 00:24:02,080 Speaker 1: lot of times there's sort of an inverse relationship between 474 00:24:02,680 --> 00:24:05,080 Speaker 1: high yield yes and capital gains. In other words, the 475 00:24:05,119 --> 00:24:08,400 Speaker 1: higher the year, the lower the capital gain, and likewise. 476 00:24:08,520 --> 00:24:11,879 Speaker 2: That runs true, it runs through and that's that's I 477 00:24:11,880 --> 00:24:15,480 Speaker 2: think what we're getting up with that Brighton and hypothetical 478 00:24:16,160 --> 00:24:18,359 Speaker 2: is that if you go out to Brighten, you you 479 00:24:18,440 --> 00:24:21,560 Speaker 2: will get a better yield, but you'll have to watch 480 00:24:21,800 --> 00:24:24,359 Speaker 2: that capital gain. You're banking on it being one of 481 00:24:24,359 --> 00:24:28,080 Speaker 2: the cheaper properties, as in likes it doesn't get much 482 00:24:28,200 --> 00:24:32,000 Speaker 2: cheaper then than five hundred thousand dollars for a three 483 00:24:32,000 --> 00:24:32,600 Speaker 2: bedroom house. 484 00:24:33,000 --> 00:24:35,160 Speaker 1: I probably couldn't build one for five hundred thousand leagues 485 00:24:37,160 --> 00:24:41,879 Speaker 1: right now, Where would you say that is one of 486 00:24:41,920 --> 00:24:45,919 Speaker 1: the hottest places in real estate? Where's everybody sort of 487 00:24:45,920 --> 00:24:48,040 Speaker 1: flocking to at the moment in Hobart, Let's say, I 488 00:24:48,080 --> 00:24:51,400 Speaker 1: don't think it exists. There's no one place that really, 489 00:24:51,480 --> 00:24:52,159 Speaker 1: I don't think so. 490 00:24:52,240 --> 00:24:54,360 Speaker 2: I think I was trying to again, I was trying 491 00:24:54,400 --> 00:24:56,280 Speaker 2: to pick this, but I don't think I think I 492 00:24:56,280 --> 00:25:02,560 Speaker 2: could find you scenarios that exist for the right property. 493 00:25:02,600 --> 00:25:06,120 Speaker 2: But I think because of like just referencing the average 494 00:25:06,160 --> 00:25:10,679 Speaker 2: suburb size is fifteen hundred homes. That was a suburb 495 00:25:10,720 --> 00:25:13,480 Speaker 2: here like eight thousand homes. So I just think that 496 00:25:14,720 --> 00:25:17,000 Speaker 2: it doesn't like we could always say, like, oh, Battery 497 00:25:17,040 --> 00:25:20,200 Speaker 2: Point it's always very popular, but it's like it's right 498 00:25:20,400 --> 00:25:24,480 Speaker 2: in the heart. It's a it's a gorgeous historic village 499 00:25:25,160 --> 00:25:27,000 Speaker 2: on the on the water, but that's I think it 500 00:25:27,000 --> 00:25:29,280 Speaker 2: almost cliche. Not everyone can afford that. And then if 501 00:25:29,280 --> 00:25:33,120 Speaker 2: it's not battery point. I don't think there is this 502 00:25:33,760 --> 00:25:36,480 Speaker 2: in demand hot spot that everyone's talking about that's on 503 00:25:36,560 --> 00:25:39,080 Speaker 2: everyone's lips. I just don't think it. I don't think 504 00:25:39,080 --> 00:25:39,680 Speaker 2: it exists. 505 00:25:39,880 --> 00:25:42,639 Speaker 1: Yeah, where do your tradees live though, because we have 506 00:25:42,680 --> 00:25:45,560 Speaker 1: areas in syitneyre for example, a place called Leppington for example, 507 00:25:45,600 --> 00:25:49,080 Speaker 1: that's gone off in the last couple of years because 508 00:25:49,560 --> 00:25:51,360 Speaker 1: it's convenient. A lot of trade is there, because there's 509 00:25:51,359 --> 00:25:53,919 Speaker 1: a lot of work out that way for trades people 510 00:25:53,960 --> 00:25:57,359 Speaker 1: and people building huge hours that all got cities bends 511 00:25:57,600 --> 00:25:59,800 Speaker 1: and you know average house like one and a half 512 00:25:59,840 --> 00:26:02,960 Speaker 1: two million bucks that's at least forty minutes from the CBD. 513 00:26:03,440 --> 00:26:05,959 Speaker 1: They probably never come into the CBD, those individuals, they 514 00:26:05,960 --> 00:26:08,200 Speaker 1: probably will work out that area. A lot of development 515 00:26:08,200 --> 00:26:11,480 Speaker 1: going on out there, a lot of near the new airport, 516 00:26:11,680 --> 00:26:14,520 Speaker 1: et cetera. That's a really hot area for me, Like 517 00:26:15,080 --> 00:26:18,280 Speaker 1: it's always rendered. There's always tenants looking for somewhere to 518 00:26:18,320 --> 00:26:23,359 Speaker 1: go or somewhere to rent. So you were saying Hobart 519 00:26:23,359 --> 00:26:24,919 Speaker 1: at least doesn't sort of experience that. 520 00:26:25,359 --> 00:26:28,440 Speaker 2: I don't believe. So I've done this for fifteen years, 521 00:26:28,440 --> 00:26:31,200 Speaker 2: and I don't think that even I couldn't even tell 522 00:26:31,200 --> 00:26:32,959 Speaker 2: you at a moment in time that there was this 523 00:26:33,880 --> 00:26:36,720 Speaker 2: huge demand for one suburb in particular, And even speaking 524 00:26:36,720 --> 00:26:39,719 Speaker 2: to colleagues, I don't think that there's I don't think 525 00:26:39,760 --> 00:26:41,639 Speaker 2: there are those stories. I think I can think of 526 00:26:41,720 --> 00:26:44,800 Speaker 2: particular houses at moments in time in a buoyant market 527 00:26:44,800 --> 00:26:47,960 Speaker 2: that was incredibly popular. But that's not saying that it's 528 00:26:48,040 --> 00:26:54,440 Speaker 2: one suburb in particular, even with talk about like Glebe Hill, 529 00:26:54,480 --> 00:26:58,639 Speaker 2: how like a really robust suburb, one that I referenced 530 00:26:58,680 --> 00:27:00,520 Speaker 2: a moment ago. Three bitch and one bathroom house is 531 00:27:00,520 --> 00:27:03,359 Speaker 2: like seven to seven fifty, good first time buyers, good schools. 532 00:27:03,400 --> 00:27:07,760 Speaker 2: Like just a very vanilla but robust suburb, a great spot. 533 00:27:07,520 --> 00:27:08,840 Speaker 1: Good place to great place to live. 534 00:27:08,960 --> 00:27:11,480 Speaker 2: Absolutely yeah, lived not far from there, like it's an 535 00:27:11,480 --> 00:27:18,080 Speaker 2: awesome place. New shopping center went in no noticeable change 536 00:27:18,080 --> 00:27:20,479 Speaker 2: though in the graphs like it doesn't if anything like 537 00:27:20,520 --> 00:27:22,680 Speaker 2: some I remember some properties I was trying to sell 538 00:27:22,720 --> 00:27:25,160 Speaker 2: there were negatively impacted. 539 00:27:25,359 --> 00:27:26,719 Speaker 1: Shopping center traffic. 540 00:27:26,800 --> 00:27:28,919 Speaker 2: Yeah, this one in particular just bought it like it 541 00:27:28,960 --> 00:27:32,800 Speaker 2: was just a set of unfortunate circumstances. But it didn't. 542 00:27:33,160 --> 00:27:35,680 Speaker 2: It didn't change it. If anything, it's just it's kept 543 00:27:35,760 --> 00:27:40,679 Speaker 2: that particular pocket, just in a slow incline direction. But 544 00:27:40,760 --> 00:27:42,240 Speaker 2: when you look at those graphs, it's not like, oh, 545 00:27:42,320 --> 00:27:44,359 Speaker 2: my goodness, tell me what happened there, And that's a 546 00:27:44,400 --> 00:27:48,840 Speaker 2: whole new Coles McDonald's medical center. Yeah, fo all for Hoe, 547 00:27:48,880 --> 00:27:50,639 Speaker 2: But it's proper if you got your Westfields. 548 00:27:50,640 --> 00:27:53,760 Speaker 1: If you put a new shopping center in a suburb, 549 00:27:53,840 --> 00:27:56,800 Speaker 1: even a new suburb in New South Wales and I 550 00:27:56,800 --> 00:27:59,040 Speaker 1: can't talk about the other states and New South Wales, 551 00:27:59,320 --> 00:28:03,720 Speaker 1: prices go twenty percent change within a week or two. 552 00:28:04,119 --> 00:28:06,080 Speaker 1: They just go nuts because people take the view I 553 00:28:06,080 --> 00:28:07,280 Speaker 1: don't want to have to drive them. I'm happy to 554 00:28:07,280 --> 00:28:09,160 Speaker 1: walk to the shop center or drive straw a little bit. 555 00:28:09,359 --> 00:28:12,880 Speaker 1: There's usually car parking there. The convenience factor puts price 556 00:28:12,960 --> 00:28:13,720 Speaker 1: up by twenty percent. 557 00:28:13,840 --> 00:28:18,560 Speaker 2: It doesn't this then though, tail back into you're buying Hower. 558 00:28:18,760 --> 00:28:21,879 Speaker 2: It's fifteen minutes to the city, so then it's like 559 00:28:22,200 --> 00:28:25,240 Speaker 2: I don't get here and that's almost the thing. Then 560 00:28:25,359 --> 00:28:27,639 Speaker 2: for most suburbs that we're talking like, we're even on 561 00:28:29,000 --> 00:28:31,680 Speaker 2: out the back. You have thirty minutes from the city. 562 00:28:31,440 --> 00:28:33,359 Speaker 1: If I don't mind, Yeah, I don't care. Where this 563 00:28:33,440 --> 00:28:35,280 Speaker 1: oning against eighty five is get to get to the 564 00:28:35,320 --> 00:28:37,040 Speaker 1: new shopping center because there's only fifty minutes to get 565 00:28:37,080 --> 00:28:37,840 Speaker 1: the old shopping center. 566 00:28:37,880 --> 00:28:40,960 Speaker 2: And perhaps then that's insulating the prices because it actually 567 00:28:40,960 --> 00:28:41,800 Speaker 2: doesn't matter that much. 568 00:28:42,000 --> 00:28:43,200 Speaker 1: Yeah, yeah, yeah, that makes sense. 569 00:28:43,400 --> 00:28:46,000 Speaker 2: I think it's different. And then another point two is 570 00:28:46,480 --> 00:28:50,480 Speaker 2: you could talk to me about this, but the transport 571 00:28:51,080 --> 00:28:54,040 Speaker 2: when a new rail line gets put in in Sydney, 572 00:28:54,760 --> 00:28:57,640 Speaker 2: game change. Well, we don't have that rail We've got 573 00:28:57,640 --> 00:29:00,760 Speaker 2: metro buses. Yeah, but again I don't just don't think 574 00:29:00,760 --> 00:29:02,960 Speaker 2: that's a game changer for us. I don't know how 575 00:29:02,960 --> 00:29:08,760 Speaker 2: often metro update there runs or maps, but it's not. Again, 576 00:29:08,800 --> 00:29:12,480 Speaker 2: that's just not hot hot topic for buyers of where 577 00:29:12,920 --> 00:29:16,360 Speaker 2: if anything, you get Mainlanders calling and saying, hey, it 578 00:29:16,400 --> 00:29:18,760 Speaker 2: is an near a bus stop, but a local just 579 00:29:18,880 --> 00:29:20,200 Speaker 2: doesn't ask those questions. 580 00:29:20,400 --> 00:29:23,120 Speaker 1: Well, but it sounds like to me many from what 581 00:29:23,160 --> 00:29:25,120 Speaker 1: you're saying, because a lot of those things you're talking about, 582 00:29:25,120 --> 00:29:30,040 Speaker 1: shopping centers, you're talking about railway stations. A lot of 583 00:29:30,080 --> 00:29:36,320 Speaker 1: those things to me, high rise, all reek of business, noise, 584 00:29:37,240 --> 00:29:38,720 Speaker 1: things that a lot of people try and avoid. So 585 00:29:38,720 --> 00:29:40,000 Speaker 1: I would have thought there for her. But it's a 586 00:29:40,080 --> 00:29:42,640 Speaker 1: bit of a God's country in that regard for anybody's 587 00:29:42,640 --> 00:29:46,840 Speaker 1: looking for a sea change or a different type of environment. 588 00:29:47,000 --> 00:29:49,760 Speaker 1: By the way, has there been any impact of the 589 00:29:49,800 --> 00:29:52,080 Speaker 1: massive amounts of migration is my last question for the 590 00:29:52,080 --> 00:29:55,160 Speaker 1: massive amounts of migration that comes the last three years 591 00:29:55,680 --> 00:29:58,960 Speaker 1: and continuing to do so. Has that migration landed up 592 00:29:59,000 --> 00:30:00,000 Speaker 1: a Tasmania or hope? 593 00:30:00,040 --> 00:30:04,160 Speaker 2: But I think it did. I need I think there 594 00:30:04,200 --> 00:30:06,240 Speaker 2: is data to support this. But there was a moment 595 00:30:06,280 --> 00:30:09,400 Speaker 2: in time pre COVID, absolutely, because I think we were 596 00:30:09,400 --> 00:30:13,960 Speaker 2: considered regional so for something to do with a visa, 597 00:30:14,040 --> 00:30:16,600 Speaker 2: we were, we were on the short list and we 598 00:30:16,600 --> 00:30:20,040 Speaker 2: we qualify for absolutely yeah, and we felt something. But 599 00:30:20,680 --> 00:30:24,000 Speaker 2: was it post COVID when things started to then open 600 00:30:24,120 --> 00:30:28,440 Speaker 2: up again? You probably know this, but did Gold Coast 601 00:30:28,560 --> 00:30:31,800 Speaker 2: turn into an option or something changed? 602 00:30:32,960 --> 00:30:35,440 Speaker 1: Northern New South was and go, Well. 603 00:30:35,600 --> 00:30:38,840 Speaker 2: That felt we felt that right, because we don't get 604 00:30:38,920 --> 00:30:40,840 Speaker 2: much of that at all anymore. 605 00:30:41,040 --> 00:30:43,200 Speaker 1: Because like in Sydney, with like at four hundred and fifty 606 00:30:43,200 --> 00:30:46,360 Speaker 1: thousand extra people in the last two years. It's crazy, 607 00:30:46,400 --> 00:30:49,880 Speaker 1: and everyone's got a car and everybody's driving to work, 608 00:30:50,040 --> 00:30:53,600 Speaker 1: and everyone goes to the busy shop centers and everyone's 609 00:30:53,640 --> 00:30:58,200 Speaker 1: catching the trains and it's Whilst it sounds cool, house 610 00:30:58,200 --> 00:31:00,080 Speaker 1: proces going up because we just can't supply them. But 611 00:31:01,200 --> 00:31:03,040 Speaker 1: it is a sort of bit manic. 612 00:31:03,400 --> 00:31:05,280 Speaker 2: Sure, yeah, I know we didn't get. 613 00:31:05,200 --> 00:31:08,400 Speaker 1: And people still like to go to those nice, comfortable, 614 00:31:08,480 --> 00:31:10,760 Speaker 1: quiet places where you can get your kid educated and 615 00:31:10,760 --> 00:31:12,880 Speaker 1: you're not going to get stabbed or robbed on the 616 00:31:12,920 --> 00:31:16,840 Speaker 1: way out. And I guess crime. You'll have crime down 617 00:31:16,880 --> 00:31:18,440 Speaker 1: the best problem, not as bad as it is up here, 618 00:31:18,800 --> 00:31:21,800 Speaker 1: and just by virtual numbers. And I still think it 619 00:31:21,880 --> 00:31:26,200 Speaker 1: as many It's God's country and I have wating there 620 00:31:26,280 --> 00:31:28,280 Speaker 1: yet I've always toyed with everything. Again, I'm going to 621 00:31:28,320 --> 00:31:30,880 Speaker 1: buy something and I never do. But I will now 622 00:31:30,920 --> 00:31:33,760 Speaker 1: be looking at your website. So what is it? It's Petersworld? 623 00:31:33,760 --> 00:31:36,280 Speaker 1: What dot com? Dot com dot dot So it's Peter 624 00:31:36,440 --> 00:31:40,720 Speaker 1: Peters World. W A L. D. Yes, Peter's World. And 625 00:31:41,920 --> 00:31:44,840 Speaker 1: you being a director of that place for how many 626 00:31:44,880 --> 00:31:45,280 Speaker 1: years now? 627 00:31:46,000 --> 00:31:48,360 Speaker 2: The last I think it's four years of sorts 628 00:31:48,440 --> 00:31:51,960 Speaker 1: So look up Harry Komer Peterswold dot com dot you 629 00:31:52,040 --> 00:31:54,520 Speaker 1: Peter much, Harry, Thanks, I appreciate it.