Mark, instead of interviewing people who only know and talk about benefiting from the current system settings… be a breath of fresh air and interview someone looking at the “first principles” reasons for property being such a “capital sink” in Australia. Ideally some who will explain how it can be unwound properly and not simply focussing on taxation and Capital Gains. Someone who looks at res property as a sector competing with National/State infrastructure, commercial, the immigration breakdown etc. Government SETS the rules so saying “stay out of it” is freaking stupid. Government makes the game and lays out the board. Every feeder into this mess is due to government setting the rules that encouraged Australian and international purchase of property as a speculative enterprise.
@@michaelrobinson9643 it’s all about alternatives … we have no real stock market and no breadth of industries to invest in here because we don’t make anything . So people have looked for the next thing to invest in and it’s only property . If you look in the US their citizens are all invested in stocks . So until we create industries that’s not digging dirt and selling fake courses to Asia then property remains the go to here.
@@HS-PGA I don't believe that is the case. Property has been turned into the biggest game in town and it's the only speculative market where discussion never seriously considers a decline. People see larger than stock market returns as likely with no risk. You are correct I think about the viable options but more so in the context of what makes headlines. I see no political will to genuinely alter the trajectory of our country to foster actual growth... not growth due to immigration. We have lost most value adding stages on resources and have not been growing new industry. Australia is stuck in a rut with no National path out and many jobs only service the moving of money not genuine productive outcomes. Think about covid and how many jobs were realised as having no real purpose.
This site is really something to behold. The contempt it has for people's intelligence. They truly believe they are doing something good and a service to the community. Trying to justify a parasitic system of exploiting people is truly the hall mark of narcissism and delusional.
Agree and then just blame immigrants for when things go bad. Reality is there are over 10,000 empty homes in Sydney itself. Reality is most immigrants can barely afford to rent let alone own a property.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1.25m in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
The solution is a handy cap system! How many houses does one person need for a basic necessity (shelter)? Invest in business and assist them to grow and hire and so on..
and watch the government take more in g.s.t, than you make in profit. And watch fiddling regulatory changes every year that waste time and money that are impossible to keep up with.from three levels of government Pay more for your wheelie bin to be emptied, even though a private contractor collects the bulk of the rubbish. Watch more half witted lawyers and "activists"get elected to parliaments.
Walk around any of Gold Coast high rise areas at early to mid-evening - unbelievable amount of high rise buildings with no lights on in their apartments because no one lives in them - the majority are owned by non-residents
The developer's answer is to have to have the government let them do their thing... Right thanks chief... Because developer's have such a resounding reputation for philanthropy and making less money...
100% - this would be gold, barrie was my lecturer in uni back in the day and he was awesome teaching us engineers, he gave a lot of good advice to us on future career paths too. Now he is taking the new role of voicing what really is going on in Australia UNCENSORED. What makes barrie awesome is he is successful and has no incentive to say what he does, he doesn't need prices to fall to buy property he could buy many now and just live the life but he is voicing what really needs to be said, also he became successful due to building something from the ground up (as far as i know 2x) , not by holding 100 properties and renting them out like what has been preached over and over and leads many down the wrong path. I'd love to see him on this show to talk through his thoughts on where things are going
this is hard to listen to considering there are places like port stephens with around 65% of homes empty due to Airbnb.. im sure there are thousands on the gold coast and Sydney as well..
I know for a fact on the northern beaches of Sydney there are hundreds of homes I know of that are empty empty. Foreign money investment. Australia is f#@ked.
Good interview. ‘We hit hard times, we open up immigration’. Demographics, without immigration, the population would be relatively flat and declining in coming years. So supply would come if we let it. So it is entirely an immigration levels problem. Building more supply is treating a symptom of our immigration problem.
People expect wins and losses in shares and get wiped out with no media coverage. The unrealistic expectations that property always goes up yet must also have speculative high returns is broken and must change. Government needs to grow balls and acknowledge that a soft landing may not be possible. Changing trajectory to force Australia onto a genuine productive, value adding economic trajectory will require changing the rules of property too to bottom. This includes banking and other adjacent sectors.
Price is increasing because of population increases and building costs. That's all you need to know. Prices will go down in less desirable areas. Russia is most likely quite affordable right now.
@@hotspringbop was that sarcasm? I can’t tell sorry. That over simplistic view is exactly what is leading to a lack of any effective intervention. Pay attention to why supply side issues exist and what is driving demand to unreasonable and unsustainable and unreachable levels. It might be many investors don’t want to face the moral quandry of what you are engaged with and the generational harm being done to our entire industrial/productivity complex… not to mention people needing homes.
In the US, we have what is called MUDs & PUDs. Essentially, when a developer whats yo build a master plan community for example and there isn’t adequate utilities and the local council doesn’t or can’t afford to supply that utility. The developer raising a private bond and build the utilities that bond is eventually back by a local council taxes. Funny thing is often those utilities are the ones that don’t fail during a power outage etc
It’s incredible the tent cities starting to pop up around the country. I never saw that in Australia before. It’s only going to get worse too these tent cities will become enormous
Another 2 million immigrants should reduce the housing demand. We can put the immigrants in government funded housing, just like the government used to do for returned soldiers after World War Two.
@@richardv9648government intervention is what has caused this issue in the first place and more government intervention is just going to cause even more issues in my opinion.
You're absolutely correct except for one minor error (which I see a lot so I'm correcting it)...You meant "you both lose". It's lose as in the opposite of win. The word you spelled loose means the opposite of tight.
@@jezg084 It's not the sole cause however, not in any particular order it's about - land banking which is speculative and creating false scarcity, and often overlooked - none of investor guys want to pay taxes, and reduced taxes means the governments are constantly cutting supply of government built housing. Actually governments no longer do it, they just contract out and that's what is so hugely, massively expensive. In Menzie's day they accepted governments should supply affordable housing and they did just that. This is the founder of the Liberal Party. He did that and it was well understood. Now we have small time and big time investors blaming ordinary workers for not being able to afford housing which has been jacked up from a succession of events. One of which is the removal of government supplied housing to record low levels. Affordable housing was a major issue long before this round of interest rate hikes. - the cost of providing infrastructure, which was mostly previously suppled by councils and now is done by contractors at vastly inflated cost. - capital gains and tax avoidance schemes which favour big operators and cost a lot to ordinary people as the implications flow into house prices - shortages of certain supplies, like wood - ridiculously inefficient methods of building right out of the last few centuries rather than modular - massive interest rates which themselves fuel inflation and kill off demand for discretionary spending, causing brake on the economy in general and a lot of economic insecurity There are many causes, but apparently it's all immigration and unions? If people are dying on unsafe construction sites expect pushback from unions this is just logical. But not to these smug self-satisfied idiots and blame shifters.
The supply side is constrained in every direction as discussed, so reduce demand. The immigration tap has to be slowed to a trickle - it’s manufactured demand. The good news is, that it can be done with the stroke of a pen. Much easier than pursuing a pipe dream target of 1.2M houses in 5 years. I’m all for immigration, but not to the detriment of Australian citizens. Albo and his cronies have/are engineering a reduced standard of living for all of us, due to their reckless mismanagement. If you think that the abolition of negative gearing will solve the problem, you have no fundamental understanding of the property market in this country.
Spot on. So many people just focus on supply but don’t acknowledge the demand side of the equation other than saying demand is high. Ok demand is high - how do we go about reducing that demand? When you ask that question it then becomes impossible to ignore the impact of immigration but rhetoric good thing is it’s an easy fix as you say, reduce immigration down to net zero - ie only allow in what can be housed and no more.
@@jezg084exactly, but for the time being, expect more summits and talk fest’s, that go around in circles and offer no solutions. Furthermore, the Greens have hijacked the housing debate, and offer up preposterous policies that will disincentivise private investment, thereby further reducing rental supply. I’d suggest that the Labor party aren’t too far behind them. In turn, this will result in less dwellings and higher rents, further delaying/denying those people from home ownership aspirations. Ironically, the policies proposed by the left are at odds with their constituents. Who votes for these morons?
@@andrewkerr5296I don’t know about dobule, but it wasn’t even double. We had around one million immigrants per decade between 1950 & 1990, so average 100,000 per year.
As a renter, keeping a roof over you head has never been more unsettling. Your on the street if your landlord sell or jacks your rent up to get you out for a higher bidder We renters are at the mercy of Landlords. Surely its a human right to have a roof over your head.
I had a mortgage that was $4300 per month over a year ago, after 13 interest rate rises, I'm now paying $7800. Now can you understand why your rent has gone up. Landlord's have to pass on some of the pain, otherwise that house your in gets sold and your out. Blame this shit government and the greedy banks.
@@Bronson9822 Pass on some of the pain? Listen mate none of you guys want to pay taxes, and reduced taxes means the governments are constantly cutting supply of government built housing. Actually governments no longer do it, they just contract out and that's what is so hugely, massively expensive. In Menzie's day they accepted governments should supply affordable housing and they did just that. This is the founder of the Liberal Party. He did that and it was well understood. Now we have people like you blaming ordinary workers for not being able to afford housing which has been jacked up from a succession of event. Affordable housing was a major issue long before this round of interest rate hikes.
@@jezg084 If the government cuts immigration the large businesses will be the first ones to complain and pressure the government to take immediate reactionary action to maintain their entitlement to grow. Perhaps the right question is: Why are businesses blaming the government for not investing in diversifying the economy when they have greater resources and apparently such a great understanding of the problem? This podcast is just designed to manipulate to suit Bouris’ business objectives and PR narrative
It will solve the problem of ensuring house prices and rents don’t come down anytime soon while ensuring that future generations of Australians will be perpetual renters/forever living in their parents basements while record numbers of immigrants from third world countries continue live 20-30 people per 3 bedroom house 😂
If you “don’t want them to meddle” than you by definition would want negative gearing gone as it’s a subsidy (meddling by any other name). You can’t have your cake and eat it too…….
By the same token, get rid of capital gains tax then. Get rid of negative gearing (tax write offs) and get rid of tax on gains. After all, you can’t have your cake and eat it too.
We need more sweeping state edicts. The WA government made a drastic change to development approvals. Previously local councils made you go through development approval to build a granny flat and many were rejected. With the new DA laws as long as you can meet setback requirements you no longer need DA approval, only building approval. This paves the way for more infill without the red tape.
The market is not exciting, its grossly challenging and you don't know how to apply your "fundamentals" in a ponzi-scheme real estate market. $1.5 M in Punchbowl or Logan is NOT exciting, its ridiculous ! You'd be insane to borrow that volume of debt just to facilitate it for 30 years, simply put our real estate should not be an investment class, it should be for HOUSING all Australians ethically. Lobbyist will keep lobbying to get that one off shoebox development approved for their clients, but WON'T lobby Government for a state wide solution that creates, employment, new industry and infrastructure solutions that will benefit all Australian citizens, not just property developers and investors. Buy a property to LIVE in it, and invest your money in innovation and bespoke industries.
Artificial restrictions on land use/release, is the government property up the current values. You could probably say australia has a fair bit of room to build.
“We’re delivering 1.2 million tents.” Brisbane riverfront views. 1 million immigrants in the last 12 months. Foreigners buying our houses. We’re being bent over hard
I work for a National institutional developer, I can tell you in Sydney nothing stacks up. In the last 5 years regarding costs; - construction doubled - land prices tripled - Government contributions more than doubled. - Authority contributions water, power doubled. - approvals delayed for years. -holding costs through the roof with increased interest payments on top of increased land values therefore land tax and council rates to the moon. Result it’s stopped Personally I’m trying to build a duplex in Sydney’s west, with construction costs increased everything on hold. Result no additional Housing. It’s tough
Should add, the only way I can afford a home in Sydney is to build a duplex and sell one to reduce debt levels but still end up with sizeable debt to manage.
@MichaelRobinson-l8c nothing wrong with that model, its been done for years. Slow and steady wins the race. A 5% nett return on using a debit facilty, is better than just parking your own cash in the bank as a term deposit.
Wow, I couldn't disagree more with what this guy said. Did he read the birth-rate stats that where released yesterday too? Birth rates have crashed. In order to turn them around, the government needs to mandate that 25% of all apartments built from now on have 3 large bedrooms and adequate living and rumpus areas - and furthermore mandate that another 25% of new apartments contain 4 large bedrooms and extra space living areas. In terms of demand - immigration must be cut to 80K per year. No ifs, not buts. 80K max - that's it.
Nice thoughts but falls in land values would never happen. Just as negative gearing and capital gains tax and concession for the property investors would never be scrapped...We can but dream.. But the reality is nothing like our dreams..
Selfish viewpoint....what about the next generations????????? Hopeless & HOMELESS....try motivating them???? Any wonder our freedoms and liberties continue to decline with the escalating 'HOUSING CRISIS!!!' I'm all right JACK.
@@peterforsyth962 Peter you’ve been watching too much current affair.. the housing “crisis” is the government propping up GDP by bringing in over 1.25 million migrants, over 2.5 years, into a country that can’t support itself. You want to talk about future generations, unfortunately they’re stuffed mate. The old thing anyone can do is make as much money as possible and help your kids get on the property train. If you’re waiting for a government handout you’re a loser. Plain and simple.
So the next generation can get into homes, its not all about you. This society is so sick and corrupt everybody thinks about their own behinds. What about what the country needs, this type of ultra individualism is what's going to bring down the country.
There are many factors contributing to the current housing crisis, there is a lack of diversity in the economy e.g. high cost of energy this has made it virtually impossible for heavy industries to run ( makingnit hard for Australians to manufacture cheap steel for building), a heavy reliance on immigration to float the economy, reliance on the importation of building materials, councils not releasing enough land for subdivisions, high inflation rates, Fiat currency losing value, increase in energy costs and increase in council rates for the average householder not too mention the stagation of wage growth. 🤷
Thank John Howard for that energy prices. Australia is the world's biggest exporter of natural gas, yet we stupidly agreed to peg gas for domestic consumption at international prices. A real "D'oh!" moment that one. Electricity is expensive for a range of reasons but mainly due to privatisation, refusal to upgrade infrastructure, then gold plating infrastructure from one extreme to the other, then claiming it's from alternative energy. Nope it's from privatisation which has caused prices to quadruple or more for domestic users and even more for industry. It's a cluster f of a situation made worse by the oversimplifications given in social media and mainstream media. There are limits to the benefits of privatisation and Australia which went full bore on it, is finding out the hard way.
I am the one who are prepared to do a development, I mean at least one at a time but when I did the math I realised that I would end up making maybe 10% after deduct everything plus the cost of the money how would I lock myself and have all the headaches for that figure? Better wait which is annoying as well or get into the rentingvest buying PI.
I dream about an Australia where building a business is the driver over sinking $1.5m into non-productive assets like property. Government incentive is pathetic apart from startup, which is complex and barely unattainable for average Aussies. There’s this massive gap between starting a mowing biz and building an app nobody wants. WTF 😤
Did i just hear that guest say the solution is to get the Govt out of the way ? Does he mean, no more immigration, no more first home buyer grants, no more CGT discounts , no more forcing banks to lend to resi, no more tax free gains on your residence, no more foreign buyers ?
Relieve ALL Council's of their 'RESPONSIBILITY' to make any housing development decisions IMMEDIATELY!!!! Time to get serious before it is too late????? Next solution to 'housing crisis' will be to BUILD more jails...if you can find any BUILDERS . Business Council to publicize LOCAL COUNCIL scorecards regarding 'PLANNING DEVELOPMENT' approvals and timelines......about time!!!! Collusion, corruption and worse work BEST in a vacuum. Time to 'pop the seal' and expose the 'reality' that has hindered the pipeline of progress towards a solution to the 'HOUSING CRISIS' that will get worse before it gets better???????
The cost of building housing right now - which is a reflection of our poor productivity in this country, hollowing out of the manufacturing sector and import cost going up (due to falling dollar/weak economy), and over zealous government regulations, and taxes ( even GST) which is never "accounted for properly".. just passed down to the end purchaser, is absolutely underwriting the entire price of the secondary housing market. But you *never* get the government saying this is the cause of the "to expensive" housing in this country do you? "Oh - it's not the cost of building housing is it?.. it's all these bad bad greedy landlords and negative gearing etc.."
with ALL those issues, why not stop immigration for a few years until the supply side is fixed. It is such an obvious, easy to implement solution that one must assume some other motives at play.
It is, but it props up our GDP figures artificially. I dont believe Universities pay tax either, correct me if im wrong. That's a lot of housing and infrastructure needed just for the student side. The Universities make a lot of money and should be responsible for providing accommodation through taxes.
Simple, we have nothing else in this country we are solely reliant on mining (which is cooked) and real-estate which is now out of reach for most Australians growing up. We no longer manufacturer or make anything, builders are now from a foreign country without the skills. The only thing to fix real estate is a massive crash for governments and People to wake up, but it won't and the circle keeps on going. picture 10 to 15 years from now, with wages staying where they are those reliant on government assistance will be huge
@@kalencwil3924 at least 200k... Then the bank has to approve a loan big enough to cover the purchase price. I couldn't imagine having to borrow over a million for the average house
Because investors are all trying to get out. Landlords are being taxed to death there and renters rights are being prioritised and landlord property rights to control who lives in their property being torn up to favor renters. Who in their right mind would invest in such a market where property investors are not welcome and ripe to be fleeced? Especially when you can get 5% risk and hassle free from bank interest?
Brisbane City council is trash! I have a 8 unit complex with 2/3 of ot carpark and land (5000sqm) and they wont let me knockdown/rebuild more units. In Victoria a similar complex no problem.
The solution to the housing crisis is to cut height limits to high rise apartment buildings - make housing a national policy where councils approvals are over ruled by state and national government and flood the market with medium and high density apartments around every train station that is close to the city. Australia isn't the first country to experience this and we can follow other countries solutions - the end result is that property growth will slow as the high amount of supply will reduce the demand considerably.
I’m not disagreeing with your point but if they can’t get developers to build these the height limit isn’t even in the conversation? From what I gather from Jon Rivera is Developers won’t touch them due to the rising costs and associated risks involved simply aren’t worth the headaches. If you look at the statistics of construction apprenticeship drop out rates which are ever increasing and the government policy on trade migrants this only adds to the labour costs of developing. (Which is what is highlighted at one point) The amount of migration to South East QLD is such a crazy stat. I live in SE QLD (and have so my entire life) and just from driving my normal commute I swear has only increased significantly year on year since the spicy cough days.
@@Tommy.d.mp4 100% - this plan will be implemented however, let’s see how the government manages the challenge of the construction. Also - just because they build it, doesn’t mean investors and renters will want to partake - strata and body corporate are notoriously corrupt :(
@@Tommy.d.mp4yep agree in Brisbane born and bred and can’t believe how congested it is up here these days. I thought it was bad 10 years ago but now it’s unbearable and supposedly it’s only going to get worse!😢
On point when it comes down to Local Council. The amount of outdated and out of touch LEPs are grinding ALL developments to a halt. You've got Councils now in Sydney wanting to challenge the Minns Government for wanting to enhance and expedite more housing. Cheers Kuringai Council, go and hug a tree, whilst you delay the inevitable. This is a capitalist country and lobbyist will see to it that planning laws are at least tweaked albeit completely changed in the developers favour, its only a matter of time. Alternatively, Government can only build infrastructure in regional NSW so that land can be developed, like the 5000 lot project old mates been working on in Northern NSW. Then change the planning regulations to accommodate modular homes without a DA, got straight to CDC and see what happens, housing shortage, sorted. But if we go on like this, you'll just have corporation owned assests that no one will ever be able to buy. Wake Up
always has been and always will be a product and an economic driver. The best cave, the best hilltop vantage point the best fertile river flats . Stop complaining and go buy a house in cloncury for $120k
He says the govt needs to stop interfering? Well its too late!. They already have interferred bigtime. What do u think tax policy is if its not interference? Stamp duty, cgt consessions, negative gearing, land zoning etc etc. U cant say no more interference when youve already interfered left, right and centre. The govt does need to interfere by fixing up all the things it has screwed up
So the fellow interviewed is complicit in unrestrained pursuit of higher sales/profit without ANY change in intrinsic value? That is after all what real estate businesses are doing with no apparent strategy to reign in pricing and facilitate National benefit and sustainable use of the finite capital in this nation. The property cycle is destroying capacity to establish actually productive, value adding industry.
Apartments are in affordable on the east coast because of migration, not slow building, you stop migration, there will be enough housing for Australians no worries
Almost better not selling off the plan . Price at completion. That project up in Sydney went bust and wants to get out of the contracts and sell now at higher value
How have prices continuing to increase through 12 interest rate rises not proved supply is abysmal relative to the artificial demand. They haven't done anything to reduce the record demand and can't succeed in raising the supply high enough.
lol we have the biggest tax bennefits on owning multiple properties is the most generous in the world, hence why we have such high property prices alongside supply constraints... but dont be ridiculose, tax benefits need to be pulled back, and watch more property on the market
Mark, instead of interviewing people who only know and talk about benefiting from the current system settings… be a breath of fresh air and interview someone looking at the “first principles” reasons for property being such a “capital sink” in Australia.
Ideally some who will explain how it can be unwound properly and not simply focussing on taxation and Capital Gains.
Someone who looks at res property as a sector competing with National/State infrastructure, commercial, the immigration breakdown etc.
Government SETS the rules so saying “stay out of it” is freaking stupid. Government makes the game and lays out the board. Every feeder into this mess is due to government setting the rules that encouraged Australian and international purchase of property as a speculative enterprise.
@@michaelrobinson9643 it’s all about alternatives … we have no real stock market and no breadth of industries to invest in here because we don’t make anything . So people have looked for the next thing to invest in and it’s only property . If you look in the US their citizens are all invested in stocks . So until we create industries that’s not digging dirt and selling fake courses to Asia then property remains the go to here.
You know instead of buying real-estate
If you bought Apple stock Amezon
Amazon Facebook Twitter Bitcoin
You would be 10x better off
@@HS-PGA I don't believe that is the case. Property has been turned into the biggest game in town and it's the only speculative market where discussion never seriously considers a decline. People see larger than stock market returns as likely with no risk.
You are correct I think about the viable options but more so in the context of what makes headlines. I see no political will to genuinely alter the trajectory of our country to foster actual growth... not growth due to immigration. We have lost most value adding stages on resources and have not been growing new industry. Australia is stuck in a rut with no National path out and many jobs only service the moving of money not genuine productive outcomes. Think about covid and how many jobs were realised as having no real purpose.
@@HS-PGAno it's gold
This site is really something to behold. The contempt it has for people's intelligence. They truly believe they are doing something good and a service to the community.
Trying to justify a parasitic system of exploiting people is truly the hall mark of narcissism and delusional.
why so pessimistic?
@@pug7053 Only a property investor would say that.
@@spartanconscience2693 don't worry be happy , more to life than money.
Agree and then just blame immigrants for when things go bad. Reality is there are over 10,000 empty homes in Sydney itself. Reality is most immigrants can barely afford to rent let alone own a property.
This video just goes to demonstrate how hard it is to see a bubble from inside it.
It good to hear what conversations around dinner tables in the eastern suburbs and northern beaches sound like.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1.25m in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Apartments in Sydney are heading towards tofu construction and strata management is like the mafia.
The solution is a handy cap system!
How many houses does one person need for a basic necessity (shelter)?
Invest in business and assist them to grow and hire and so on..
and watch the government take more in g.s.t, than you make in profit.
And watch fiddling regulatory changes every year that waste time and money that are impossible to keep up with.from three levels of government
Pay more for your wheelie bin to be emptied, even though a private contractor collects the bulk of the rubbish.
Watch more half witted lawyers and "activists"get elected to parliaments.
Sounds way too much like "You will own nothing and you will be happy " 😢😢😢
That's exactly what it is.
These guys are playing parts in a scammed market
Property Tax is the only solution.
Walk around any of Gold Coast high rise areas at early to mid-evening - unbelievable amount of high rise buildings with no lights on in their apartments because no one lives in them - the majority are owned by non-residents
The developer's answer is to have to have the government let them do their thing... Right thanks chief...
Because developer's have such a resounding reputation for philanthropy and making less money...
“Stop medaling with capital gains “ says the property developer, go figure 😂
"Stop medaling" means either keep it or get rid of it. So i'm not sure why you're laughing.
@@tim3062 you are medaling
But they want the other meddling which has occurred to create the conditions where prices continue to sky rocket 😂
Would love to hear you Interview Matt Barrie! 🙏
100% - this would be gold, barrie was my lecturer in uni back in the day and he was awesome teaching us engineers, he gave a lot of good advice to us on future career paths too. Now he is taking the new role of voicing what really is going on in Australia UNCENSORED. What makes barrie awesome is he is successful and has no incentive to say what he does, he doesn't need prices to fall to buy property he could buy many now and just live the life but he is voicing what really needs to be said, also he became successful due to building something from the ground up (as far as i know 2x) , not by holding 100 properties and renting them out like what has been preached over and over and leads many down the wrong path. I'd love to see him on this show to talk through his thoughts on where things are going
Do it
Just came to say the same. Straight shooter
Do it. Barrie cares about Australias future.
Would also like to see him on here!
this is hard to listen to considering there are places like port stephens with around 65% of homes empty due to Airbnb.. im sure there are thousands on the gold coast and Sydney as well..
Presumably air B.N.B. attracts tourists, which provides local jobs unrelated to drug dealing.
I know for a fact on the northern beaches of Sydney there are hundreds of homes I know of that are empty empty. Foreign money investment. Australia is f#@ked.
You’ve hit the nail on the head there. It’s air bnb that is at the heart of the problem. Should have tighter regulations.
Mark can u get Matt Barrie on, he will explain why we have a housing shortage. You will love him
Haha no he won’t because he’ll be calling out the ponzi and the easy solution that these guys don’t want to talk about!
Good interview. ‘We hit hard times, we open up immigration’. Demographics, without immigration, the population would be relatively flat and declining in coming years. So supply would come if we let it. So it is entirely an immigration levels problem. Building more supply is treating a symptom of our immigration problem.
As garbage as this podcast is, this is the episode with the purest level of propaganda. Expecting altruistic wisdom from Colliers??
These people benefit most from immigration and then have the odacisty to blame the immigrants for the woes.
People expect wins and losses in shares and get wiped out with no media coverage.
The unrealistic expectations that property always goes up yet must also have speculative high returns is broken and must change. Government needs to grow balls and acknowledge that a soft landing may not be possible. Changing trajectory to force Australia onto a genuine productive, value adding economic trajectory will require changing the rules of property too to bottom. This includes banking and other adjacent sectors.
Price is increasing because of population increases and building costs. That's all you need to know. Prices will go down in less desirable areas. Russia is most likely quite affordable right now.
@@hotspringbop was that sarcasm? I can’t tell sorry. That over simplistic view is exactly what is leading to a lack of any effective intervention. Pay attention to why supply side issues exist and what is driving demand to unreasonable and unsustainable and unreachable levels. It might be many investors don’t want to face the moral quandry of what you are engaged with and the generational harm being done to our entire industrial/productivity complex… not to mention people needing homes.
@@hotspringbopbeen to Russia lately?
dont comment until you do you will
be very surprised...
We have a lower level of economic complexity than a lot of 3rd African economies 😂
In the US, we have what is called MUDs & PUDs. Essentially, when a developer whats yo build a master plan community for example and there isn’t adequate utilities and the local council doesn’t or can’t afford to supply that utility. The developer raising a private bond and build the utilities that bond is eventually back by a local council taxes. Funny thing is often those utilities are the ones that don’t fail during a power outage etc
It’s incredible the tent cities starting to pop up around the country. I never saw that in Australia before. It’s only going to get worse too these tent cities will become enormous
Another 2 million immigrants should reduce the housing demand. We can put the immigrants in government funded housing, just like the government used to do for returned soldiers after World War Two.
It's BS talking about supply. The two of you have vested interests and don't want to see affordable housing. Cut immigration and you both loose.
Immigration is the elephant in the room.
Also apply propert gain tax. And 60% tax on anyone who ones more than 2 homes. That will fix the problem.
@@richardv9648government intervention is what has caused this issue in the first place and more government intervention is just going to cause even more issues in my opinion.
You're absolutely correct except for one minor error (which I see a lot so I'm correcting it)...You meant "you both lose". It's lose as in the opposite of win.
The word you spelled loose means the opposite of tight.
@@jezg084 It's not the sole cause however, not in any particular order it's about
- land banking which is speculative and creating false scarcity, and often overlooked
- none of investor guys want to pay taxes, and reduced taxes means the governments are constantly cutting supply of government built housing. Actually governments no longer do it, they just contract out and that's what is so hugely, massively expensive. In Menzie's day they accepted governments should supply affordable housing and they did just that. This is the founder of the Liberal Party. He did that and it was well understood. Now we have small time and big time investors blaming ordinary workers for not being able to afford housing which has been jacked up from a succession of events.
One of which is the removal of government supplied housing to record low levels. Affordable housing was a major issue long before this round of interest rate hikes.
- the cost of providing infrastructure, which was mostly previously suppled by councils and now is done by contractors at vastly inflated cost.
- capital gains and tax avoidance schemes which favour big operators and cost a lot to ordinary people as the implications flow into house prices
- shortages of certain supplies, like wood
- ridiculously inefficient methods of building right out of the last few centuries rather than modular
- massive interest rates which themselves fuel inflation and kill off demand for discretionary spending, causing brake on the economy in general and a lot of economic insecurity
There are many causes, but apparently it's all immigration and unions? If people are dying on unsafe construction sites expect pushback from unions this is just logical. But not to these smug self-satisfied idiots and blame shifters.
The supply side is constrained in every direction as discussed, so reduce demand.
The immigration tap has to be slowed to a trickle - it’s manufactured demand.
The good news is, that it can be done with the stroke of a pen.
Much easier than pursuing a pipe dream target of 1.2M houses in 5 years.
I’m all for immigration, but not to the detriment of Australian citizens. Albo and his cronies have/are engineering a reduced standard of living for all of us, due to their reckless mismanagement.
If you think that the abolition of negative gearing will solve the problem, you have no fundamental understanding of the property market in this country.
just need a politician with the plums to use that pen...
Spot on. So many people just focus on supply but don’t acknowledge the demand side of the equation other than saying demand is high. Ok demand is high - how do we go about reducing that demand? When you ask that question it then becomes impossible to ignore the impact of immigration but rhetoric good thing is it’s an easy fix as you say, reduce immigration down to net zero - ie only allow in what can be housed and no more.
@@markettrader7112Unfortunately, the plums have turned into prunes, on the left of politics.
@@jezg084exactly, but for the time being, expect more summits and talk fest’s, that go around in circles and offer no solutions.
Furthermore, the Greens have hijacked the housing debate, and offer up preposterous policies that will disincentivise private investment, thereby further reducing rental supply. I’d suggest that the Labor party aren’t too far behind them.
In turn, this will result in less dwellings and higher rents, further delaying/denying those people from home ownership aspirations.
Ironically, the policies proposed by the left are at odds with their constituents. Who votes for these morons?
@@andrewkerr5296I don’t know about dobule, but it wasn’t even double. We had around one million immigrants per decade between 1950 & 1990, so average 100,000 per year.
Mark, fung choy is possibly a food(ish) thing, Feng shui not served on a plate.
Lol
Never trust real estate salesmen ,pair of snakes
As a renter, keeping a roof over you head has never been more unsettling.
Your on the street if your landlord sell or jacks your rent up to get you out for a higher bidder
We renters are at the mercy of Landlords.
Surely its a human right to have a roof over your head.
I had a mortgage that was $4300 per month over a year ago, after 13 interest rate rises, I'm now paying $7800. Now can you understand why your rent has gone up. Landlord's have to pass on some of the pain, otherwise that house your in gets sold and your out. Blame this shit government and the greedy banks.
@@Bronson9822 Pass on some of the pain? Listen mate none of you guys want to pay taxes, and reduced taxes means the governments are constantly cutting supply of government built housing. Actually governments no longer do it, they just contract out and that's what is so hugely, massively expensive. In Menzie's day they accepted governments should supply affordable housing and they did just that. This is the founder of the Liberal Party. He did that and it was well understood. Now we have people like you blaming ordinary workers for not being able to afford housing which has been jacked up from a succession of event. Affordable housing was a major issue long before this round of interest rate hikes.
The main challenge in this country is finding a government that will lower the immigration to a level that doesn't create these problems.
That is pure stand up material in a country with negative gearing. Great wind-up mate
One Nation
@@jhykobz1yq so immigration is playing no part in the current property market?
@@jezg084 If the government cuts immigration the large businesses will be the first ones to complain and pressure the government to take immediate reactionary action to maintain their entitlement to grow. Perhaps the right question is: Why are businesses blaming the government for not investing in diversifying the economy when they have greater resources and apparently such a great understanding of the problem? This podcast is just designed to manipulate to suit Bouris’ business objectives and PR narrative
This guy Is a goose
I think brining in another 1.2 million migrants over the next 2-3 years should solve all our problems 🤪😅🤪😅🤦🏻♂️🤦🏻♂️
solve THEIR problems
It will solve the problem of ensuring house prices and rents don’t come down anytime soon while ensuring that future generations of Australians will be perpetual renters/forever living in their parents basements while record numbers of immigrants from third world countries continue live 20-30 people per 3 bedroom house 😂
lol and what do you do about labor shortage then?
No idea
@@Vgallowhat labour shortage?
If you “don’t want them to meddle” than you by definition would want negative gearing gone as it’s a subsidy (meddling by any other name).
You can’t have your cake and eat it too…….
Can we also get rid of the first home buyer grant, reduce stamp duty, etc.
@@michaelramage73 ALL of the subsidies so we know what things actually cost 🤷♂️
Well said. Subsidies are socialist and look at the fruit it bares
By the same token, get rid of capital gains tax then. Get rid of negative gearing (tax write offs) and get rid of tax on gains.
After all, you can’t have your cake and eat it too.
No they want the type of meddling to continue which has created and perpetuated the conditions to blow this bubble into the stratosphere.
We need more sweeping state edicts. The WA government made a drastic change to development approvals. Previously local councils made you go through development approval to build a granny flat and many were rejected. With the new DA laws as long as you can meet setback requirements you no longer need DA approval, only building approval. This paves the way for more infill without the red tape.
The market is not exciting, its grossly challenging and you don't know how to apply your "fundamentals" in a ponzi-scheme real estate market.
$1.5 M in Punchbowl or Logan is NOT exciting, its ridiculous !
You'd be insane to borrow that volume of debt just to facilitate it for 30 years, simply put our real estate should not be an investment class, it should be for HOUSING all Australians ethically.
Lobbyist will keep lobbying to get that one off shoebox development approved for their clients, but WON'T lobby Government for a state wide solution that creates, employment, new industry and infrastructure solutions that will benefit all Australian citizens, not just property developers and investors.
Buy a property to LIVE in it, and invest your money in innovation and bespoke industries.
Artificial restrictions on land use/release, is the government property up the current values. You could probably say australia has a fair bit of room to build.
“We’re delivering 1.2 million tents.” Brisbane riverfront views. 1 million immigrants in the last 12 months. Foreigners buying our houses. We’re being bent over hard
Yep being 🤜 . Leaving when I can. The greed disgusts.
Bent over by locals at the top end with multiple properties
We are being bent over, 🤜, then we are thanking them and they are walking away with our wallet and gf. Planning my exit strategy. Joke of a country.
@@joshuak8009where you going Asia ?
Yep I’m out and going to France picked up a house for $275k AUD I’ll be saying goodbye to Australia forever
Invite Matt Berrie to clean up the BS
Debt does up, artificial housing prices goes up, inflation keeps going up, yep this is going to end great.
My solution would be to look at how Singapore solved housing.
Did they solve it by bringing in 1.25 million migrants in 2.5 years……?????????????????? 🤪🤣
Wow awesome podcast Mark and Jon thanks for the insight very informative
Gold Coast would be a premium location in Australia
I work for a National institutional developer, I can tell you in Sydney nothing stacks up. In the last 5 years regarding costs;
- construction doubled
- land prices tripled
- Government contributions more than doubled.
- Authority contributions water, power doubled.
- approvals delayed for years.
-holding costs through the roof with increased interest payments on top of increased land values therefore land tax and council rates to the moon.
Result it’s stopped
Personally I’m trying to build a duplex in Sydney’s west, with construction costs increased everything on hold.
Result no additional
Housing.
It’s tough
Should add, the only way I can afford a home in Sydney is to build a duplex and sell one to reduce debt levels but still end up with sizeable debt to manage.
@MichaelRobinson-l8c nothing wrong with that model, its been done for years. Slow and steady wins the race.
A 5% nett return on using a debit facilty, is better than just parking your own cash in the bank as a term deposit.
Have you looked at “build buddy” to progress your duplex?
Wow, I couldn't disagree more with what this guy said.
Did he read the birth-rate stats that where released yesterday too? Birth rates have crashed. In order to turn them around, the government needs to mandate that 25% of all apartments built from now on have 3 large bedrooms and adequate living and rumpus areas - and furthermore mandate that another 25% of new apartments contain 4 large bedrooms and extra space living areas.
In terms of demand - immigration must be cut to 80K per year. No ifs, not buts. 80K max - that's it.
Land values have to come down to offset the inflation in construction costs.
Nice thoughts but falls in land values would never happen.
Just as negative gearing and capital gains tax and concession for the property investors would never be scrapped...We can but dream.. But the reality is nothing like our dreams..
Selfish viewpoint....what about the next generations????????? Hopeless & HOMELESS....try motivating them???? Any wonder our freedoms and liberties continue to decline with the escalating 'HOUSING CRISIS!!!'
I'm all right JACK.
@@peterforsyth962 Peter you’ve been watching too much current affair.. the housing “crisis” is the government propping up GDP by bringing in over 1.25 million migrants, over 2.5 years, into a country that can’t support itself. You want to talk about future generations, unfortunately they’re stuffed mate. The old thing anyone can do is make as much money as possible and help your kids get on the property train. If you’re waiting for a government handout you’re a loser. Plain and simple.
So the next generation can get into homes, its not all about you. This society is so sick and corrupt everybody thinks about their own behinds. What about what the country needs, this type of ultra individualism is what's going to bring down the country.
@@Whyunounderstand pumping in 1.2 million migrants over 2 years is what’s going to bring down the country and your children’s future.
There are many factors contributing to the current housing crisis, there is a lack of diversity in the economy e.g. high cost of energy this has made it virtually impossible for heavy industries to run ( makingnit hard for Australians to manufacture cheap steel for building), a heavy reliance on immigration to float the economy, reliance on the importation of building materials, councils not releasing enough land for subdivisions, high inflation rates, Fiat currency losing value, increase in energy costs and increase in council rates for the average householder not too mention the stagation of wage growth. 🤷
Thank John Howard for that energy prices. Australia is the world's biggest exporter of natural gas, yet we stupidly agreed to peg gas for domestic consumption at international prices. A real "D'oh!" moment that one. Electricity is expensive for a range of reasons but mainly due to privatisation, refusal to upgrade infrastructure, then gold plating infrastructure from one extreme to the other, then claiming it's from alternative energy. Nope it's from privatisation which has caused prices to quadruple or more for domestic users and even more for industry. It's a cluster f of a situation made worse by the oversimplifications given in social media and mainstream media. There are limits to the benefits of privatisation and Australia which went full bore on it, is finding out the hard way.
I am the one who are prepared to do a development, I mean at least one at a time but when I did the math I realised that I would end up making maybe 10% after deduct everything plus the cost of the money how would I lock myself and have all the headaches for that figure? Better wait which is annoying as well or get into the rentingvest buying PI.
Co Vid in real terms meant RBA money print . Which debased purchase power .
Excellent. Excellent interview. Excellent guest. Excellent hosting. Thank you. More please.
I dream about an Australia where building a business is the driver over sinking $1.5m into non-productive assets like property. Government incentive is pathetic apart from startup, which is complex and barely unattainable for average Aussies. There’s this massive gap between starting a mowing biz and building an app nobody wants. WTF 😤
Did i just hear that guest say the solution is to get the Govt out of the way ? Does he mean, no more immigration, no more first home buyer grants, no more CGT discounts , no more forcing banks to lend to resi, no more tax free gains on your residence, no more foreign buyers ?
You're right. He was very ambiguous. To achieve the things you've listed above, the govt will need to interfere in order to remove or change them.
lol it’s feng shui not feng Choi
So true local council always delaying projects ….. 68 days just for a DVA …. What a joke 🤷🏼♀️
Relieve ALL Council's of their 'RESPONSIBILITY' to make any housing development decisions IMMEDIATELY!!!!
Time to get serious before it is too late?????
Next solution to 'housing crisis' will be to BUILD more jails...if you can find any BUILDERS .
Business Council to publicize LOCAL COUNCIL scorecards regarding 'PLANNING DEVELOPMENT' approvals and timelines......about time!!!! Collusion, corruption and worse work BEST in a vacuum. Time to 'pop the seal' and expose the 'reality' that has hindered the pipeline of progress towards a solution to the 'HOUSING CRISIS' that will get worse before it gets better???????
Tweed hospital has one of the worst reputations in the country. Almost 50% of the staff left to GCUH.
The cost of building housing right now - which is a reflection of our poor productivity in this country, hollowing out of the manufacturing sector and import cost going up (due to falling dollar/weak economy), and over zealous government regulations, and taxes ( even GST) which is never "accounted for properly".. just passed down to the end purchaser, is absolutely underwriting the entire price of the secondary housing market. But you *never* get the government saying this is the cause of the "to expensive" housing in this country do you? "Oh - it's not the cost of building housing is it?.. it's all these bad bad greedy landlords and negative gearing etc.."
with ALL those issues, why not stop immigration for a few years until the supply side is fixed. It is such an obvious, easy to implement solution that one must assume some other motives at play.
Cuz education is the top service export that makes like 50 billion a year.
It is, but it props up our GDP figures artificially. I dont believe Universities pay tax either, correct me if im wrong. That's a lot of housing and infrastructure needed just for the student side. The Universities make a lot of money and should be responsible for providing accommodation through taxes.
because all these clowns are long real estate, they dont wanna shut the border
Simple, we have nothing else in this country we are solely reliant on mining (which is cooked) and real-estate which is now out of reach for most Australians growing up. We no longer manufacturer or make anything, builders are now from a foreign country without the skills. The only thing to fix real estate is a massive crash for governments and People to wake up, but it won't and the circle keeps on going. picture 10 to 15 years from now, with wages staying where they are those reliant on government assistance will be huge
It's a scary thought of what the future looks like, especially for people trying to buy their first place without the help of mum and dad
@@Mothy2014they would need 200k leg up
@@kalencwil3924 at least 200k... Then the bank has to approve a loan big enough to cover the purchase price.
I couldn't imagine having to borrow over a million for the average house
Take him back to 1989 when nothing was selling and interest rates were 18%
Sell all public housing houses to private and use the money to build apartments 300000 metres in the air like every other country does
fung Choi 😂
A type of Chinese cabbage mushroom.
Then explain to me why the Melbourne market is decreasing and stagnating in price? 🤔
And it is not going to go up any time soon?
Because investors are all trying to get out. Landlords are being taxed to death there and renters rights are being prioritised and landlord property rights to control who lives in their property being torn up to favor renters. Who in their right mind would invest in such a market where property investors are not welcome and ripe to be fleeced? Especially when you can get 5% risk and hassle free from bank interest?
Look at the labor government, they’ve fcuked the whole state in the last decade. Hopefully it will bounce back in 2025/2026
And Melbourne is selling and buying in Brisbane which is over flated
can't believe how brainwashed Australians are with the most expensive property in the world
Hilarious, less government intervention, except for capital gains & negative gearing 😂
Brisbane City council is trash! I have a 8 unit complex with 2/3 of ot carpark and land (5000sqm) and they wont let me knockdown/rebuild more units. In Victoria a similar complex no problem.
The solution to the housing crisis is to cut height limits to high rise apartment buildings - make housing a national policy where councils approvals are over ruled by state and national government and flood the market with medium and high density apartments around every train station that is close to the city.
Australia isn't the first country to experience this and we can follow other countries solutions - the end result is that property growth will slow as the high amount of supply will reduce the demand considerably.
I’m not disagreeing with your point but if they can’t get developers to build these the height limit isn’t even in the conversation?
From what I gather from Jon Rivera is Developers won’t touch them due to the rising costs and associated risks involved simply aren’t worth the headaches.
If you look at the statistics of construction apprenticeship drop out rates which are ever increasing and the government policy on trade migrants this only adds to the labour costs of developing. (Which is what is highlighted at one point)
The amount of migration to South East QLD is such a crazy stat. I live in SE QLD (and have so my entire life) and just from driving my normal commute I swear has only increased significantly year on year since the spicy cough days.
Was hoping most would have been gone from the spicy cough remedy by now @@Tommy.d.mp4
@@Tommy.d.mp4 100% - this plan will be implemented however, let’s see how the government manages the challenge of the construction.
Also - just because they build it, doesn’t mean investors and renters will want to partake - strata and body corporate are notoriously corrupt :(
And watch the cracking foundations, flammable cladding, crappy neighbours and rip off body corporate. You are welcome to be a human battery hen
@@Tommy.d.mp4yep agree in Brisbane born and bred and can’t believe how congested it is up here these days. I thought it was bad 10 years ago but now it’s unbearable and supposedly it’s only going to get worse!😢
Great podcast Mark. Really valid market insights.
On point when it comes down to Local Council. The amount of outdated and out of touch LEPs are grinding ALL developments to a halt.
You've got Councils now in Sydney wanting to challenge the Minns Government for wanting to enhance and expedite more housing.
Cheers Kuringai Council, go and hug a tree, whilst you delay the inevitable.
This is a capitalist country and lobbyist will see to it that planning laws are at least tweaked albeit completely changed in the developers favour, its only a matter of time.
Alternatively, Government can only build infrastructure in regional NSW so that land can be developed, like the 5000 lot project old mates been working on in Northern NSW.
Then change the planning regulations to accommodate modular homes without a DA, got straight to CDC and see what happens, housing shortage, sorted.
But if we go on like this, you'll just have corporation owned assests that no one will ever be able to buy. Wake Up
Too much bereaucracy, councils are a nightmare to deal with. Development is completely rooted, housing crisis will get worse
Our shelter is just a product to this guy, yep ok, heard enough.
always has been and always will be a product and an economic driver.
The best cave, the best hilltop vantage point the best fertile river flats .
Stop complaining and go buy a house in cloncury for $120k
Great insights guys. Really appreciate the high level perspective 🙏
He says the govt needs to stop interfering? Well its too late!. They already have interferred bigtime. What do u think tax policy is if its not interference? Stamp duty, cgt consessions, negative gearing, land zoning etc etc. U cant say no more interference when youve already interfered left, right and centre. The govt does need to interfere by fixing up all the things it has screwed up
My thoughts exactly. Stop meddling in the ways that don’t suit us developers. lol , must live in a closed real estate bubble.
So the fellow interviewed is complicit in unrestrained pursuit of higher sales/profit without ANY change in intrinsic value? That is after all what real estate businesses are doing with no apparent strategy to reign in pricing and facilitate National benefit and sustainable use of the finite capital in this nation.
The property cycle is destroying capacity to establish actually productive, value adding industry.
Public housing tenants retired or long term unemployed relocate to area where no jobs because won't work anyway
Only immigrants can improve Lithgow and whalan and bidwill and emerton and shalvey and penrith
Super interesting conversation
Nothing like a crash to reset prices 😂
You won’t see a crash ever again
It’s feng shui
Apartments are in affordable on the east coast because of migration, not slow building, you stop migration, there will be enough housing for Australians no worries
Matt Barrie would have s great insight
Almost better not selling off the plan . Price at completion. That project up in Sydney went bust and wants to get out of the contracts and sell now at higher value
Cheaper to build infrastructure in existing cities over new cities is just factually misleading and wrong. Typical vertical builder take.
Out of work builder/developer in Melbourne…… lost money in 2024 Melbourne property. 💩
20-25% market correction is incoming… 3-4 years of going sideways and it will be 7 o’clock on the property clock again.
2026
@@tysonfinn1470 10-15% if were lucky
Have you got statistics or a data set to prove that?
BTW I’m not being belligerent or agreeing with it, it’s a genuine question.
How have prices continuing to increase through 12 interest rate rises not proved supply is abysmal relative to the artificial demand. They haven't done anything to reduce the record demand and can't succeed in raising the supply high enough.
NEVER!
We know the enemy. It is us.
GREED brought down the ROMAN EMPIRE....nothing new here!!!💰💰💰💰💰💰💰💰💰💰💰💰💰
GC has 10x since GFC
Not for the guys living on there yachts in bums bay (spit /broadwater) best location on the coast for free
One thought is to give relief to those who would like to down size .
Negative gearing, CGT concessions and immigration! Period!!!!!!!
These guys sound like they had few drinks before this discussion......
lol we have the biggest tax bennefits on owning multiple properties is the most generous in the world, hence why we have such high property prices alongside supply constraints... but dont be ridiculose, tax benefits need to be pulled back, and watch more property on the market