New South Wales, Wayne, Paypal discussed on The Property Couch
Have guys always say it's on what's really going on behind. The scenes highlight yet highly social media. I I have to create some of the social media stuff by safe from agents I absolutely cringe and settling in New South Wales. Wayne trying to push for pushing for education and training reforms which had finally happened but we're also pushy towards becoming recognized profession. Which would actually add a liar on top of those reforms because it is such an important. It's such an important role that we play in people's lives whether we're managing their assets away buying and selling the assets. Oldham and and I think we need to be held to a much higher standard and I get infuriated when I say items be hiding because there are some terrible real estate agents. That will do whatever they have to do to get a deal done and I don't want them in our industry Saw I think on the way out at the end of this we will have less people in the industry. They'll be less businesses they'll be less sales people But the people who are there is I talked to realize that identity day and they're in two camps. There are a technical of all night spin of the kids. Nothing wrong with that. That's That that nothing wrong with that but days others that I really trying to be of service in their community. They're communicating with paypal not trying to buy and sell property but just communicating saying okay. This is what's going on in the world for us. What's going on so you can. I help I'm here tonight. Me and it's really interesting to say the different ways that people approach but certainly where we sit today much more positive feeling out there in the market has been in recent wakes which is a a real life what about as the asset class in particular. You Talk to bet we we as invested earlier. So you're invest yourself. How do you feel about the underlying asset in in New South Wales? Would you buy now and importantly what are you saying? Once once the restrictions are relaxed in the room starts going back to the movie while probably a little premature but when when normal lifestyle society come back what what what would be your observations. And what would you be signed? Bikes were thinking of questions. Should Invest Nail? Should we white view? But it'll be interested in your. I'll be interested in your favorite Sorry Mike you is that I had confirmation from mine will strike. Yes tonight that I'm in a position to buy an investment property and sigh. Yes I'm actively looking right now. Will I be sensitive absolutely will and so on? I want jumping nate jump because I'm buying an investment but yes I'm I'm actively looking. I am hearing from agents across the state that I have a lot of stock blonde up September. Now obviously we always not as spring is a popular time to be buying And and to be selling Cy I you know I don't know but I think there's a chance that we're kind of come out this hard and fast way in New South Wales. Were in a in a really strong market right up until a few weeks ago we had clearance rights in the mid seventies even either eighty percent most of the Shia Certainly that's backed off now and as you would expect. There are people that are just not consumer sentiment uncertainty. When when things onset people die make big decisions and telling his decision But just based on what I'm hearing there are still a lot of underlying demand out F- to buy to move so I think that we're going to say quite a lot of activity coming and I think if we manage to get that change to the Sandy That's GonNa have a really positive impact on me. What do you guys think we tend to agree? I mean we've got thing is blind real estate across the country. Rod So we're actually seeing Opportunistic price point as you said. But we feel that the it'll come back to equilibrium create pre covered would come back pretty quickly lodge the only backup lowliest things pent up the mind and the fact that we aren't doing enough has to cater for the for the amount of people that are coming here. But we've said a couple of times on the PODCAST and bought a interested in your feedback on the analogy but Khanna describing it like a car with the engine. Excuse me the engines. Fully cheering cash ride points befogged. Lockheed going Competitive Interest rates. You can get so the engines been oil and grease up fully trained ready to guy. Got The government at the back of the car with Baz pumping the castle fuel. Because you know seems package job. Capers pay-as-you-go lock this money being line into the economy. The problem is the drive account getting the COP and Because if the drive could get in the car that's plenty of fuel and the engines. Prompt READY DOT com. We we feel up on the other side. Wants the dry but can get becky. And we're not we're not necessarily saying property is gone to fly But we we are of the view that it's very hard to make a case that in the rot In the Rock Lake I ride stock not cigarette stock stock. How is it? How is it not reasonable to suggest that once we're on the other saw that will at the very least returned back to where we were pre covet and then if you've got listless things more demand and will people want it? Had that doesn't put a little bit of a nudge on upward pressure on prices in the right areas on the flip side of that If you we've preached on this podcast for five years now that asset selection is critical so and we're talking about SS that. We would consider investment grade. I'd ride acids hierarchy bar. That's uniqueness about them but but on the other side I think Sieg rights definitely but some some be modernised stock We'll we'll be challenged as well because people are looking at their balance sheets now going which can liquidate and no one's liquidating the great stuff. They liquidating the junk stock. And therefore lots on the MAC and that'll put pressure on the process. Yeah we are hearing some some of our Landlords have taken a physically the self-funded guitarist of technically speaking on the stock market. All of a sitting based in in Shays have And of course we that's GONNA come back as well so we don't really want to Sell any of the shades right now. So some of landlords asset of in a position with two liquid I Properties which is unfortunate. But it's just the market is just a mockup wearing right now But yeah the clearance sites. We were experiencing Pray cottage were just really really strong. Side it's racing into belay as you said with a with a each strikes led by out it's not That's not gonNA come back relatively quickly so I I think the taste for us. Because ultimately we're saying demand and supply influenced processing all aspects of of this hybrid period. Medical supplies ridiculously Price Gouging and all that. So it's going going on because of supplying the Mon- issues so the question I have is around. Have you had any indication from the New South Wales government in terms of when we will be able to get back to open Arkan himes and potentially public auctions of the stage? Not No not at all. Yes certainly the premier indicated about a week ago that she would have an announcement at the end of April. I that's what makes next week About what what's happening with the shutdowns She's come out and said schools Third wake of term which is another couple of weeks away The kids can go back. One Guy Wakes they'll have about twenty percent of the kids at the school. Anyone die But that's about as far as we've had so we expect to hear from her next week on that But I think we're GONNA be back to times anytime Lila. That's GonNa be happening anytime soon. So I mean in terms of the predictions that I have about what's going to happen in the market. One of the assumptions that I do my because on. I'm a believer that the September stock supply will be high ass. I would. I would be thinking that we would have some type of I've been hyme posssibility and potentially even public auctions with Sasha distancing side but I suspect that they will be a very strict regime in terms of number of people inappropriate. Anyone on yet stops teams. Now if we get to that level they might confidence of I. Strong Rayban in process will be will be valid if we get to a stage where they still have a second. Sick IS OF SECOND WIFE. Ecorse. That's GonNa have a detrimental effect and that's obviously packed. the a`mobility fable enhance productivity enhance their incomes and unemployment and cycle aside. If all going well wait the next couple of months. We're going to get some results on treatments and also vaccinations zillion occasions on those those programs in at rolling up my understanding this sixty treatment in vaccinations going around the world so those types of things will be critical in terms of confidence for governments to gather people socialize and some mobility that is faithful as we improve the mortality right. And I think that will continue to happen so going well and on the fan on balling amendment as well So I'm good to guy for another property so I think from that point of view that's the that's the people who are in the industry bicycling signing that. We prefer to handle this competition. Yes exactly the buying when when there's a lot more competition because we now frost movement isn't necessarily the result of supply it's the result of strong demand And we know that they will be limited supplies. Are you still going to hand? Pick on his broth- sign united. Stick steer clear of the robby stock. That's after but I think what we will say in terms of results for that Robbie stock that's going to have any impact on median values. And that's going to be Great Media Fata in terms of the headlines but the fundamentals in speaking to you and listening to all gather industry people around the country and weight well network in that spice is that there is a clot optimism in Who's in terms of still go? Quality Ball is still got sellers wannacry. Dan Rydell do what if I'm sorry? I think that that's being lost in in the media noise because you know a guy to the source of the of the market which is the people on the ground. It's not an interesting story for the media is it. That's the problem. I liked drama. No well it's it's not easy to put into a sand. Bought Rock property process down to ten percent is good for. Osama bin Laden and we get a little bit of criticism from that from from the from the Fox. Santa people who guy this is the worst thing ever in the United States the worst time but a of the human psychology and behavioral economics always points to we. We normally arriver anxious in individual times though cyber optimistic win things assuming and you know we have. That's why we have.