Chief Economist, Sambra, Bryce discussed on The Property Couch
Bryce hold way with another episode of the probably catch more recently caught up with narrative. Be Who's the chief economist at the Rei Group better known to most as real estate dot com dot a U and we had a really great chet lock we each and every month and we talked things Roy Navarre's how that would have an impact on property how that will have an impact on the tenants. What does it mean about the economy? What does it mean with all these stimulus packages? And how can people navigate through? What is a very very interesting to arm? So it was a great chat very insightful as always with all of narratives wisdom so let's cue up the interview that are recently had with narrative coningsby horror flicks. Sambra's huddle I am co host of the product. Tonight I have with may never be. Who is the chief economist at? Ruth's site they'll come by. Who we have on H. every month but Tim. Today's a little bit unique narrow in enact catch up to that first of all. Welcome back to the cash hangs having me. That's what a different school weeknights. Last time we caught up was Monday the second March Some four weeks ago and you and all we're talking about the fact that At the time the just vacation we have thirst corron of arse relied a disc and you and I had tied around. All you know a cautious. You know turnaround. What does that mean? But then what a difference. Four weeks thanks. Yeah I mean. Look at these changing. Today I think The the daughter and the information and the policy changes Fame to baby seems to be something you bang announced. Everything's I signed. It has been a very very difficult market to to work out. What's happening You know I'd be Steitz. We can clearly say that. There's a lot of distress Brenton's and a lot of ranches the young they're exposed to hospitality tourism entertainment They are also by Typically lower income by said that let's impact on then that that phone to people who I investment properties will be quite significant yesterday we need the announcement around banning of tenants from six month time period Beyond that you know we don't nine hell. Landlords Armas investment of these We will be Will HAVE INTENSIVE TECH SPIKES. Report is highly likely. There'll be some changes to the text bikes. Thera say but you know it'd be starting the government basically said wreck it out for yourself thousands and And Matt what's Your Best. Guess clearly the caveat that it is cristobal colon. You don't know what would be your biscuit on how they might respond around the incentives to the lands. Clearly the renter's will be doing top fraud and we want to be. I am an argument. All the rich grady investors versus the pull vulnerable tenants because at the end of the die for the majority of property investors vulnerable. Australians onside designing a very small percentage of the big fat cat suit having Whereas the majority you know self-funding sparring retirees. You are also on the challenges out what what is. What is your viscous of what that might be full services at of course the habit you KRISTA bowling him climbing we deny that I guess You're right on one hand. There there is sometimes conception that invested very wealthy and you know the realities of many invested one property. They may be paying themselves to top off the movie and enjoy themselves during an interview. Coding situation that can have caught significant flown impacts. I at least I guess what's available to landlords potentially won't be afraid we'll be payment phrase so at least you know that will heartfully tied some people over in terms of what the government will announce the two things that I've heard Some changes to negative gearing so there might be some text sent. You might to negative gearing Sending notes I land tax changes silent. Taxis in such Nishi for many investors of single on residential properties is a big deal for commercial property. Sorry they're treating. I'm hearing at the moment I thought by now. Even what's happening? The rental market is open out a little bit more clarity in what was announced yesterday but at this stage it's record at yourselves Bacanovic Some guy from the immediate just allow depreciation on all sorts of depreciation to be deducted again rather than The Chines might a couple of years ago. I think essentially a everyone. You know the fame of rolling this together on the Lam has to work it out of the tenant decide we'll at the other end of this the the property market and and those landlords they actually need an implied. That's part of the part of the biggest out of their exit route. If I can get that regular income side I think the number one suggestion is to communicate. Tokyo tenants. Don't treat them like less than just because they're having some challenges going to repayment plan like you said they. I guess you might have some further comments. But the Banking Association signed will allow out businesses to have some relief on On the pirates of the lawns as long as they pass that onto the commercial tenants arrangement. So I think it's important that we thought advise at landlord can have a repayment holiday. Therefore I have some relates to give the tenant some form of package that we can enter into so that I can never got through. The interesting thing is if you can't have addictions really does throw landlords protection insurance into a into a a different spice because I rely on you being out guy through the process of giving notice Giving the Ford is whatever state they're in and then at the end of that process that's when insurance keeps we'll nail the government's saying you can't do that so these insurance will be on in in modulus not necessarily covering him. Yeah I think this is right. I mean on one hand you talk. T- bank and Trauma Work Out. What's going on but also they need to look at your insurance and united Some In a very difficult situation I think so. Essentially the government can give some incentives to landlords like in We can all work collaboratively together to realize that we wanted to sell out and give give concessions on by as I think we can all navigate through it as long as as long as we don't have scenario with the poor landlord is asked to provide public housing because essentially you. We talked about it a lot of them. Just do not have the Mogae for that. I am what are some of the trends that you're saying on your sought women? I mentioned before that rental the rental market seems to be the mice challenge. We have seen a big decline in the number of people searching for parental properties out. We've also seen an increase in rental. Be Steaming send Partly.