WEBVTT - Domain Property with Alice Stolz

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<v Speaker 1>And now the Real Estate show thanks to Domain, Australia's

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<v Speaker 1>trusted property marketplace. Alice Stoles is a national property editor

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<v Speaker 1>at Domain. We have a chat each week and jeez

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<v Speaker 1>with us right now. Good day, Alice, Good morning, Luke.

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<v Speaker 2>Great to bear with you.

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<v Speaker 1>Thanks lovely to talk to you again. Let's kick off

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<v Speaker 1>with the latest auction numbers and clearance rates in Sydney

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<v Speaker 1>and Brisbane. What can you tell me?

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<v Speaker 2>Well, Sydney's got not doing not badly given we are

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<v Speaker 2>now well and trulli in winter, seven hundred and seventy

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<v Speaker 2>three auctions taking place around the city today. Brisbane has

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<v Speaker 2>seventy eight options now. Last week and of course long

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<v Speaker 2>weekend in Sydney last weekend clearance rates came in as

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<v Speaker 2>sixty six percent for Sydney and in Brisbane they came

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<v Speaker 2>in at thirty nine percent. So it's kind of we're

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<v Speaker 2>just slipping into that slower period, Luke. But let's see

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<v Speaker 2>what happens in the next couple of weeks, just to

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<v Speaker 2>see how kind of reactive I guess buyers are to

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<v Speaker 2>the economy and all this global uncertainty.

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<v Speaker 1>Indeed, right now our expensive and not so expensive buyers

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<v Speaker 1>from last week in Sydney and in Brisbane East Linfield

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<v Speaker 1>got the top figure. Did it In Sydney it.

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<v Speaker 2>Did indeed, and this was a three bedroom house. Now,

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<v Speaker 2>there were twelve bidders at this auction. Look it was

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<v Speaker 2>an aged three bedroom home on around just a bit

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<v Speaker 2>of a nine hundred square meter, so twelve bidters because

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<v Speaker 2>basically it had the appeal of being able to be

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<v Speaker 2>a knockdown house. But the bidding for this fun went

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<v Speaker 2>bananas and someone paid four point five million dollars. Will

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<v Speaker 2>essentially be a knockdown and then I'll rebuild their green

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<v Speaker 2>behind a local family from the area, and the vendor's

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<v Speaker 2>son apparently said to us that his parents were over

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<v Speaker 2>the moon. They'd been in the house for twenty six

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<v Speaker 2>years and clearly they were pragmatic about not to be

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<v Speaker 2>emotional about it, because I think I'd be a bit

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<v Speaker 2>of a wreck if that happened to me, knowing that

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<v Speaker 2>someone was going to knock out in the house. But

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<v Speaker 2>they obviously just could see the upside of the opportunity, yes,

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<v Speaker 2>to make a very tidy profit on it. So a

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<v Speaker 2>pretty incredible situation. That scene play out in different spots

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<v Speaker 2>of Sydney, particularly when Heritage and I guess the development

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<v Speaker 2>opportunities are there for some people in Brisbane. It was

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<v Speaker 2>in Tentan Reef we had a lovely, very big, traditional

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<v Speaker 2>kind of English style house with incredible views that sold

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<v Speaker 2>for four point two one million dollars a three bedroom

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<v Speaker 2>house there. And again we're just saying, if you're in

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<v Speaker 2>that right location with beautiful views, people will absolutely pay

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<v Speaker 2>for it if their pockets are deep enough.

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<v Speaker 1>Yes. Indeed, just back to what you were saying there

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<v Speaker 1>about the future of a person's property, and you hope

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<v Speaker 1>you get through the process thinking, you know what, that

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<v Speaker 1>was okay. But someone very close to me thought when

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<v Speaker 1>they were selling their house to a person that made

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<v Speaker 1>it clear that everything there was wonderful and they couldn't

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<v Speaker 1>wait to live in it and it was fantastic blah

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<v Speaker 1>blah blah, And they ended up doing a deal, only

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<v Speaker 1>to find it a week after moving out the place

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<v Speaker 1>was up for rent, and they thought, Wow, why wouldn't

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<v Speaker 1>they just straight talk? You know, I hear what you're saying.

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<v Speaker 1>People need to be honest about this stuff. And I guess,

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<v Speaker 1>you know, you should be aware that people are trying

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<v Speaker 1>to get an advantage or something. But that I think

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<v Speaker 1>that is about heroe.

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<v Speaker 2>People can see, yeah, some of them can sort of

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<v Speaker 2>see what sort of an emotional vendor potentially how they

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<v Speaker 2>react to. We've also seen situations in the market all

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<v Speaker 2>around the country actually where where sometimes a very sort

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<v Speaker 2>of plucky, particularly first home buyer, we'll go out and

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<v Speaker 2>a limit often write a letter to a vendor and say,

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<v Speaker 2>I absolutely love your house, here's my story about my

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<v Speaker 2>proper ownership. And often if the vendor is that way inclined,

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<v Speaker 2>they react very positively, taught and having some instance taken

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<v Speaker 2>a lower offer from that first time buy purely for

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<v Speaker 2>the emotional appeal of giving it to someone who is

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<v Speaker 2>going to do the right thing with it. Now, in

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<v Speaker 2>cases I'm talking about, there's been complete sincerityene honesty there.

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<v Speaker 2>But I'm wonder if we're going to start seeing more

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<v Speaker 2>of people kind of shaping their own narrative just to

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<v Speaker 2>get a good deal. Probably unfortunately, is the answer to

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<v Speaker 2>that one.

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<v Speaker 1>Yeah, fascinating. Now the best buy is Sydney Harris Park.

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<v Speaker 2>Yeah, look there was a place in Harris Park, two

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<v Speaker 2>bedroom place, five hundred and eighty five thousand dollars. This

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<v Speaker 2>one soulful and to me, you know what, Luke, This

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<v Speaker 2>shows me that going out that little bit further or

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<v Speaker 2>to sort of areas like this. Look, I mean two bath,

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<v Speaker 2>one parking spot five hundred and eighty five thousand, pretty

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<v Speaker 2>good buying in Sydney at the moment, knowing is our

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<v Speaker 2>country's most expensive market and we rarely see anything with

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<v Speaker 2>at least two bedrooms going under sort of seven hundred

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<v Speaker 2>thousand at the moment, So a slight encouraging way of

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<v Speaker 2>light for buyers there. Increstmead in Brisbane there was a

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<v Speaker 2>home that for five bedrooms sold for six hundred and

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<v Speaker 2>twenty five thousand dollars and needs a bit of love

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<v Speaker 2>this place, But I'm hoping again that someone kind of

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<v Speaker 2>makes the most of it and can do something quite

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<v Speaker 2>clever there.

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<v Speaker 1>Tell me about this new research from Domain looking at

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<v Speaker 1>buyer search data and linking it with actual property listings

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<v Speaker 1>and showcases are growing divide, doesn't Yeah?

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<v Speaker 2>Look, this is what I sort of think about. Is

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<v Speaker 2>that disconnect to what sellers expect when it comes to

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<v Speaker 2>selling and what buyers are willing to pay Now it

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<v Speaker 2>says to me a lot also about the fact that

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<v Speaker 2>many buyers aren't really educating themselves enough about how quickly

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<v Speaker 2>prices can move in certain parts, So I think the

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<v Speaker 2>message means that buyers really need to go in with

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<v Speaker 2>this with their eyes wide open and ensure they're really

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<v Speaker 2>sort of o FA with what prices are at this

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<v Speaker 2>current point in time, because the biggest mismatch, particularly in

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<v Speaker 2>the Brisbane area, is that in those inner city suburbs

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<v Speaker 2>and areas also like Sherwood, Interrapilli Candale, are also showing

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<v Speaker 2>gaps of what buyers are willing to pay and what

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<v Speaker 2>sellers are expecting to sell for. And I guess the

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<v Speaker 2>reality is that we sort of see this imbalance in

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<v Speaker 2>the market when we're just seeing a disconnection. People I

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<v Speaker 2>guess aren't being realistic enough at what they have to pay,

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<v Speaker 2>and sellers are also being overly bolshy about what they

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<v Speaker 2>expect to get for the house, particularly I guess, giving

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<v Speaker 2>the affordability constraints that we're seeing, especially in Brisbane in

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<v Speaker 2>a growing way at the moment.

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<v Speaker 1>Yes, well, that is that's really worth a look at.

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<v Speaker 1>Go to the domain website to get all that information.

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<v Speaker 1>Are you telling me that there's a two bedroom cottage

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<v Speaker 1>in Wales that you can get for a couple of bucks?

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<v Speaker 2>It's what I mean that these stories you can't you

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<v Speaker 2>couldn't make them up. A two bedroom cottage is on

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<v Speaker 2>the sale for two dollars. Now, Luke, brace yourself that

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<v Speaker 2>this is completely in a derelict state. But it's in

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<v Speaker 2>Pembroke Dock, a town in the rural countryside of South Wales.

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<v Speaker 2>It overlooks a beautiful river, but basically there is so

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<v Speaker 2>much work that needs to be done here. Now the

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<v Speaker 2>cottage will be sold on an online auction and it's

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<v Speaker 2>part of a collection of eighty properties being sold during

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<v Speaker 2>a two day auction event. Now, of course people in

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<v Speaker 2>Brisbane are all across the fact that they often have

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<v Speaker 2>these super action events take place, a collection and properties

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<v Speaker 2>listed at the same time. We don't see them very

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<v Speaker 2>much in Australia except for in that Brizze market. But

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<v Speaker 2>this place in the in Wales is absolutely having it.

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<v Speaker 2>The lease hold goes for nine hundred and ninety nine years,

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<v Speaker 2>but I just cannot imagine the work needs to be done.

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<v Speaker 2>And look, my advice is also this, if it seems

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<v Speaker 2>too good to be true, it normally is who knows

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<v Speaker 2>what's going on here? In terms of development or in

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<v Speaker 2>a particularly around the waterways. There can also be obstacles there,

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<v Speaker 2>but certainly worth having a look a look at. If

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<v Speaker 2>you've got a bit of an EU passport and potentially

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<v Speaker 2>live over there, check it out.

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<v Speaker 1>Yeah too, Bucks, goodness me, I'll be there in a

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<v Speaker 1>few weeks. Actually I might just no, I won't back

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<v Speaker 1>in a second Alic Stoles from the Domains were there's

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<v Speaker 1>properties of the week. The first one in New South

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<v Speaker 1>Wales to Barrel Award winning renovation architecturally designed place, five bed,

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<v Speaker 1>three bar, three car. But what about in Brisbane We've

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<v Speaker 1>got the home of a stuntman to the stars, is

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<v Speaker 1>that right?

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<v Speaker 2>That's right Jimmy Christian and who is like these stuntman

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<v Speaker 2>in Australia and has looked after everybody from George Colony

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<v Speaker 2>to Ryan Gossip. A beautiful house on Oak Beach. I

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<v Speaker 2>mean that's the Port Douglas region, beautiful beachside sanctuary, six bed,

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<v Speaker 2>four bath, two car. And I just think what a

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<v Speaker 2>wonderful example of those little bolt holes you can go to,

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<v Speaker 2>particularly if you're in a stressful job like being a stuntman.

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<v Speaker 2>I can't imagine what that would be like Luke, So

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<v Speaker 2>opportunity for somebody to kind of make their own little

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<v Speaker 2>beautiful spot with someone who's been you know, touched the

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<v Speaker 2>Hollywood stars.

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<v Speaker 1>Yeah, that's fantastic. Hey, have a terrific weekend, Alex. I'll

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<v Speaker 1>talk to in a week's time.

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<v Speaker 2>Thanks so much, Thanks Luke.

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<v Speaker 1>Everything we talk about. Go to domain dot com, dot

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<v Speaker 1>a you and you can see the properties have interested

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<v Speaker 1>in everything. That's all the research. They're really important information.

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<v Speaker 1>If you're buying a home like I went through, you

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<v Speaker 1>need domain