[Podcast] Stop picking on property investors with Mike Mortlock

In today’s show, I'll discuss the complexities of Australia's housing market with my guest Mike Mortlock, the director of MCG Quantity Surveys.

In our conversation today, we spoke about lots of interesting things that will give you some insights into our housing market.

In particular, we explore a disturbing “tall poppy syndrome” narrative that’s taken place over the last little while. It puts property investors in the role of villains who are against the Australian dream of home ownership, and we believe this is an unfair and inaccurate portrayal.

We explain why that’s inaccurate and tell politicians it’s time to stop picking on property investors.

We also talk about the rental crisis, what's ahead for our property markets, and Mike’s views on what will happen with AI and the property markets.

The Evolving Property Landscape: AI Innovation, Rental Crises, and Smart Investment Moves

We discuss:

• Mike reports on the hardest postcodes to find rentals in
• How investors have been battered throughout the last decade and into the current one
• The reasons people rent other than poverty
  • Stage of life
  • Migration status
  • A recent move into a state
• How people will adapt to a shortage of rentals and higher rental rates
• About a third of properties currently for sale were previously rental properties
  • Only a small percentage of those are going to investors most sell to home buyers
• Currently, investors are providing over 90% of rental accommodation
• Criticism against investors regarding negative gearing and capital gains tax exemptions
• The unfeasibility of the government suddenly stepping in and providing all the accommodations currently provided by investors
• The property market expectations gap in the Westpac Consumer Sentiment Measures
• The likelihood of more stock coming back to the market in 2024
• How artificial intelligence will affect the property markets going forward
  • The gap time in data collection probably won’t allow AI to change things drastically in the short term
  • However, AI does improve the ability of individuals to crunch data and hopefully make educated decisions
• The importance of relying on fundamentals that have always worked rather than short term trends

Links and Resources:

Michael Yardney

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Mike Mortlock – MCG Quantity Surveyors

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Join us at Wealth Retreat 2024 www.WealthRetreat.com.au

Some of our favorite quotes from the show:

“The tax department shows that 92% of investors own one or two properties and 72% earn $100,000 a year or less. So, they're not tycoons, they're not ultra-rich people. They're your neighbours, your friends, your family.” – Michael Yardney

“We don't act rationally when it comes to money. So, I think one of the things one's got to remember is invest in what's always worked.” – Michael Yardney

“So, remember the quality of your decisions affects the quality of your life. You're not the problem, your processes could be.” – Michael Yardney

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