Australian Property Podcast Rask

This is a cross-post from the Australian Finance Podcast. Owen Rask is hosting a Q&A with the founder of Blusk and mortage broker, Chris Bates.
Chris & Owen discuss what a 'good asset' in property looks like, what to do if you can't afford your dream house, deciding on fixed or variable, upgrading and property deposits.
Chris Bates was recently voted the #1 mortgage broker in Australia by The Adviser!
Australian Property Podcast resources:


Australian Property Podcast online - videos, notes & resources

Ask a question

Chris' mortgage broking

Amy's new property course

Amy's 100-point checklist (PDF)

Pete Wargent's property coaching

Join Owen's Rask Core  membership for $0.99


INFORMATION WARNING!
This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.
Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.
Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to this week's edition of 2 Sense on The Australian Property Podcast, where we take a look at the week's most interesting news headlines and break down what this means for you.
Mortgage Broker Chris Bates and Buyer's Agent Pete Wargent are discussing the population boom, labour market & reasons why rents could slow.
Story 1: Population boomed by a record +182,000 in Q1

Population growth accelerated to +182,000 in Q1 – highest ever – that’s 2,000 people per day. Catching up COVID and alleviating the labour shortage

Why we can’t build for this kind of growth

Where? Victoria, Queensland, and NSW all got massive growth

What next? A big debate about whether this is responsible policy given the housing shortage

Story 2: Slack increases in the labour market

The economy is still adding jobs, but measures of underemployment and underutilisation are now rising

Why? Record immigration and slowing economy

Where? Most states are slowing, mainly driven by slack in Sydney and Melbourne

What does it mean? Slower wage growth going forward, interest rates to peak

Story 3: 3 reasons rents will slow in 2024

Eliza Owen from CoreLogic identified 3 reasons why rents will slow in 2024

rents move with interest rates

softer incomes growth

rental affordability becoming stretched in some areas

What does it mean? Good news for inflation and renters


Australian Property Podcast resources:

Australian Unemployment

Core Logic Study

Pete's blog


Australian Property Podcast online - videos, notes & resources

Ask a question

Chris' mortgage broking

Amy's new property course

Amy's 100-point checklist (PDF)

Pete Wargent's property coaching

Join Owen's Rask Core  membership for $0.99


INFORMATION WARNING!
This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.
Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.
Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to this week's edition of 2 Sense on The Australian Property Podcast, where we take a look at the week's most interesting news headlines and break down what this means for you.
Mortgage Broker Chris Bates and Buyer's Agent Pete Wargent are discussing: business insolvencies hitting a 15-year high, why office towers are taking a major hit & Australian population surge driving rental vacancies to a new low.
Story 1: Business Insolvencies Hitting a 15-year High

Firms are starting to fail as the cost of capital rises


Why is this happening? The business cycle has been unusual, stimulus could have papered over the cracks

Big surge in small business failures, rising unemployment, and a fall in employment, particularly in the retail segment

What does it mean for property? 

Distressed sales are still low for now. The unemployment rate is still 3.7%


Story 2: Office towers to take a major hit (according to a recent Morgan Stanley report)


ABS value of dwelling stock rose $325bn in the June quarter to over $10 trillion, driven mainly by increases in the mean dwelling price in NSW (+$32k) and QLD (+$26k)


However, Morgan Stanley reports office tower valuations could fall another 10-15%


Why is this happening? Working from home phenomenon has persisted, at least for 3 days per week 

What does it mean? This could be interesting news for REITs and super funds

What does it mean for property? Commercial office prices to fall 


Story 3: Record low rental vacancies


Record high population growth, and record low rental vacancy rates.


International arrivals in January hit 1.7m, the highest since January 2020

Why is this happening? Temp visas are at a record high of 2.55m, including a record 650,000 international students, with population growth at 2.4%.

What does it mean? Despite this, the rental market seems to be a bit steadier and less panicked 

What does it mean for property? Ongoing rental shortages and pressures to continue for the next 2-3 years?



Australian Property Podcast resources:


ABC - Insolvencies

REA Housing Crisis

International Students

Pete's blog


Australian Property Podcast online - videos, notes & resources

Ask a question

Chris' mortgage broking

Amy's new property course

Amy's 100-point checklist (PDF)

Pete Wargent's property coaching

Join Owen's Rask Core  membership for $0.99


INFORMATION WARNING!
This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.
Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.
Learn more about your ad choices. Visit megaphone.fm/adchoices

Property OR shares (or a bit of both)?!
In today's episode, we're opening the can of worms that many Australians can relate to: the great debate over investing in property or shares.
Kate Campbell moderates the debate between Owen Rask (team property) and Tom Wilson from InvestSMART (team shares).
Who won? Let us know via Instagram.
Australian Property Podcast resources:


Australian Property Podcast online - videos, notes & resources

Ask a question

Chris' mortgage broking

Amy's new property course

Amy's 100-point checklist (PDF)

Pete Wargent's property coaching

Join Owen's Rask Core  membership for $0.99


INFORMATION WARNING!
This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.
Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.
Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to this week's edition of 2 Sense on The Australian Property Podcast, where we break down the biggest news headlines of the week and tell you what this really means for you.
Mortgage Broker Chris Bates and Buyer's Agent Pete Wargent talk about pattern book housing, stronger market dynamics, and the future of Australia.
Story 1: Pattern book housing proposal for NSW

A new proposal launched by Housing Group Now to speed up the supply


The proposal: 375,000 dwellings in 5 years, building up 30 medium-density suburbs across the city


Benefits: Supply increases if it speeds up building approvals and projects


Risks: Quantity over quality, cutting of corners, defects, etc 

Story 2: Stronger market dynamics, could buyer FOMO explode?

With the rate on hold for the 3rd consecutive month and household consumption now slowing, buyer FOMO is set to explode


Listings rose in August in Sydney and Melbourne as vendor confidence grows


Westpac calling next move down in 2024 

Story 3: Intergenerational report reveals what Australia could look like in 2063

Population projections 43 million in 2063 (we usually overshoot the projections)

Estimate large ageing population and young migrants


The healthcare sector will require huge investment and employment (noteworthy for housing and commercial property too) 

The expectation is that there will be a large investment in renewables


Tax: Australia may need to shift the focus away from income taxes which are already very high, towards other forms of tax e.g. inheritance, land tax, higher GST etc


Australian Property Podcast resources:


Story 1 - Pattern Book Housing


Story 2 - Buyer FOMO


Story 3 - Intergenerational report

Pete's Blog


Australian Property Podcast online - videos, notes & resources

Ask a question

Chris' mortgage broking

Amy's new property course

Amy's 100-point checklist (PDF)

Pete Wargent's property coaching

Join Owen's Rask Core  membership for $0.99


INFORMATION WARNING!
This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.
Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.
Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of The Australian Property Podcast, Buyer's advocate Amy Lunardi and Rask founder, Owen Rask are discussing how to develop a property brief. They will talk you through what exactly is a property brief, where it should sit within the buying process, and how this differs from your strategy.
So, what is a property brief? A condensed idea (ideally written down) on exactly what you are willing to purchase, this includes budget, location & characteristics of the property. Amy and Owen are going to double-click on how to develop your property brief so that you can implement this in your own property journey.
On this episode:

What is a brief?

Brief vs strategy


Why do you need one?

Home vs investment brief

Breaking down each of the elements:

Budget

Locations

Non-negotiables & bonuses

Doing a reality check



Mistakes Amy often sees made (not doing it at all, not doing it thoroughly enough, maybe locations, bonuses vs non-negotiables, not being on the same page, not doing the reality check, saying “would consider if was…”)

Tradeoffs and compromises

Communicating your brief to agents

Changing the brief over time



Australian Property Podcast resources:


Australian Property Podcast online - videos, notes & resources

Ask a question

Chris' mortgage broking

Amy's new property course

Amy's 100-point checklist (PDF)

Pete Wargent's property coaching

Join Owen's Rask Core  membership for $0.99


INFORMATION WARNING!
This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.
Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.
Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg

Learn more about your ad choices. Visit megaphone.fm/adchoices