There have been some interesting property headlines recently, haven’t there?
- Australia’s house prices are seeing the fastest quarterly decline on record.
- An Australian property market crash is coming.
- The chances of a crash in house prices just jumped.
- A Freedom of Information report revealed internal research by the RBA found property prices could fall by as much as 20%.
Is a property crash really likely?
That’s what I was recently asked by Nathan Veccio, Mortgage Coach and Brisbane-based Mortgage Broker at Hunter Galloway, in an interview for his YouTube Channel.
And considering that thousands of people watched the interview and over 90 commented on this interview, I asked Nathan permission to replay the audio version for you as a listener of my podcast.
I think you’ll find the questions Nathan asked me insightful, and even though you may have already heard some of my views on what’s ahead for our property markets, considering all the changes in the few weeks since we recorded this interview, I think my comments are even more relevant.
Rather than being overly worried about inflation, rising interest rates, and all economic woes, please take the time to listen to my thoughts, and I hope at the end of today’s show, you’ll have a bit more clarity of watch ahead.
Highlights of my chat with Nathan Veccio:
- What’s actually happening with the property market?
- There’s not actually one property market in Australia
- The property market has never dropped as much as most negative commenters are predicting
- Consumer confidence is what’s currently missing
- Which segments of the property market are hurting the most
- Whether the market will bounce back over the next 12-24 months
- Why there may be a more fragmented property market moving forward
- What to look for in terms of government schemes going forward
- How people are going to afford increased rents
- What’s happening in the rental markets
- Over the last decade, rents went up 11% while inflation went up 25%
- Where the interest rates are going to go next
- Why there’s a window of opportunity for those with long-term views right now
- The fundamentals of our economy won’t change
- We can buy better now than we could six months ago and probably better than we will in 6-12 months
- Good investments over the next five years
- The value of a long-term perspective
Links and Resources:
Nathan Veccio, Mortgage Coach and Brisbane-based Mortgage Broker at Hunter Galloway
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“Overall, the Australian property markets have only fallen around 4% over this year, but in certain segments of Sydney and Melbourne, they’ve dropped in value up to 10%.” – Michael Yardney
“When consumer confidence comes back, we’ll get to the bottom of the property cycle where buyers will return and vendors will start putting their properties on the market.” – Michael Yardney
“It’s possible that in 6-12 months’ time, we’re not going to buy as well as we can today.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.