Latest / The Real Estate Show / Mix 106.3's Real Estate Show - 03/10/26

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Mix 106.3's Real Estate Show - 03/10/26 · The Real Estate Show

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  Speaker 1: Cam and Renee's Real Estate Show on Mix 106.3. Step
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  Speaker 1: into stylish, low-maintenance living in Canberra's inner north. Deberg by
• 0:10
  Speaker 1: JW Land. Cam, it's time for another Mix 106.3 Real
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  Speaker 1: Estate Show podcast.
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  Speaker 2: Yes, indeed.
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  Speaker 3: Thanks to JW Land. And one that came across the
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  Speaker 3: news desk where you work Monday to Friday at Mix
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  Speaker 3: 106.3 in the newsroom that we brought into the Real
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  Speaker 3: Estate Show. Because it went into the Legislative Assembly in
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  Speaker 3: one form and now it's gone away for a little while.
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  Speaker 1: Yes, this is the Portable Rental Bond Scheme. So we
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  Speaker 1: spoke to Maria Edwards from the Real Estate Institute of
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  Speaker 1: the ACT about what the scheme actually is. And some
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  Speaker 1: people are for it, some people aren't. And she talked
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  Speaker 1: us through all of that.
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  Speaker 3: We had the most incredible discussion with Gavin Smith. Gavin
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  Speaker 3: is the owner-operator of ACT Snake Removals.
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  Speaker 2: Yes.
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  Speaker 3: Because, well, not when we went to air with this show,
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  Speaker 3: it was absolutely pouring.
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  Speaker 4: It was bucketing down.
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  Speaker 5: Thundering all the things.
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  Speaker 2: But we know we're moving.
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  Speaker 3: Into the warmer months and so reptiles are becoming more active.
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  Speaker 3: And for people in Canberra and the Capital Region who
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  Speaker 3: back onto reserves or back onto bushland, snakes are there.
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  Speaker 4: Yeah.
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  Speaker 5: Yep, and they're going to be there over the coming
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  Speaker 5: weeks and months.
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  Speaker 1: He talked us through that, what kind of snakes we
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  Speaker 1: see and what you should do in those cases.
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  Speaker 3: Did a little bit of myth-busting as well, didn't we?
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  Speaker 5: Yes, yes, which was good as well.
• 1:21
  Speaker 1: And we spoke to Sam McGregor, Principal at Winrose Property,
• 1:23
  Speaker 1: about the latest Cotality Home Value Index.
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  Speaker 3: Yeah, one thing we discussed was vendors being on the
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  Speaker 3: market or in the market. So he gave us a
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  Speaker 3: really good definition of what that meant and why that's
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  Speaker 3: important at the moment.
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  Speaker 1: Yes, and he did that and broke down some of
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  Speaker 1: the figures for us and explained what they mean locally.
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  Speaker 5: So it's always a good chat with Sam.
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  Speaker 3: Okay, so that all went to air on Saturday on
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  Speaker 3: Mix 106.3. You get to enjoy it on the Mix
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  Speaker 3: 106.3 podcast. Before we get to it, though, let's take
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  Speaker 3: a listen to this.
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  Speaker 4: Mix 106.3's Property Tip of the Week brought to you
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  Speaker 4: by Lister.
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  Speaker 5: That dripping tap? That loose cupboard handle? Buyers notice them.
• 1:57
  Speaker 5: Small maintenance jobs tell buyers how well the whole home
• 2:00
  Speaker 5: has been looked after. This tip was brought to you
• 2:02
  Speaker 5: by Lister.
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  Speaker 1: Well, Cam, you may have heard a bit in the
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  Speaker 1: news recently about calls to bring in a portable rental
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  Speaker 1: bond scheme here in Canberra.
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  Speaker 3: Yeah, look, this idea has been around for a long,
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  Speaker 3: long time and there's been a number of different versions
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  Speaker 3: of it. But it's great having you working in the newsroom.
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  Speaker 5: Through the week here at the.
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  Speaker 3: Radio station because When these sorts of news releases come through,
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  Speaker 3: it's just like, okay, you forwarded on to me. And
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  Speaker 3: so this is really important. There's lots of elements to this,
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  Speaker 3: isn't there?
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  Speaker 5: There's lots of elements to it. It was in the
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  Speaker 5: Assembly recently.
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  Speaker 1: So we're going to dig down and kind of find
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  Speaker 1: out a bit more about what it means and what
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  Speaker 1: happened in the Assembly there. And Maria Edwards is CEO
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  Speaker 1: at the Real Estate Institute of the ACT.
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  Speaker 5: Maria, good morning.
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  Speaker 6: Good morning, Renee, again.
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  Speaker 5: Now, look, for those who.
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  Speaker 1: Haven't heard about this, can you briefly explain the Portable
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  Speaker 1: Rental Bond Scheme and what it's aiming to achieve?
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  Speaker 7: Sure.
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  Speaker 6: So, So the Portable Rental Bonds, it's supposed to reduce
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  Speaker 6: the double bond problem when a renter moves before their
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  Speaker 6: existing bonds release. So you pay your bond when you
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  Speaker 6: move into a property, then you move out, but you've
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  Speaker 6: got to pay another bond before your other one's released.
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  Speaker 6: So it's supposed to save tenants from actually having to
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  Speaker 6: pay two bonds.
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  Speaker 2: Okay, gotcha.
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  Speaker 1: And so this was put forward in the ACT Legislative
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  Speaker 1: Assembly recently.
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  Speaker 2: Yes.
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  Speaker 5: What actually happened then?
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  Speaker 6: Yeah, so the motion was supported unanimously. So it's not actually,
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  Speaker 6: the scheme hasn't been approved. It's been approved to actually
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  Speaker 6: be investigated. So they definitely want to introduce it, but
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  Speaker 6: they want to make sure that they do it properly
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  Speaker 6: and investigate the options. And they've got nine months to
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  Speaker 6: report back on the costs and the benefits and the
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  Speaker 6: risks and the possible unintended consequences of.
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  Speaker 3: Okay, and so unintended consequences are to be avoided at
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  Speaker 3: all time with anything that you do, right? So why, Marie,
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  Speaker 3: why are people saying this is a good idea?
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  Speaker 7: Yeah, well, definitely.
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  Speaker 6: I mean, cash flow, especially in the cost of living
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  Speaker 6: at the moment, and it costs thousands of dollars to
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  Speaker 6: move home when you're a renter.
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  Speaker 7: And so coming up with thousands of dollars worth of.
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  Speaker 6: Bond as well as, you know, potential cleaning fees and
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  Speaker 6: advanced rent and all that sort of thing, if there's
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  Speaker 6: a way to minimise that expense on tenants and make
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  Speaker 6: the process straightforward, then, you know, that's obviously a win
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  Speaker 6: for tenants.
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  Speaker 5: Yeah, for sure.
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  Speaker 1: And as well, there's people in that basket, but then
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  Speaker 1: also others who are saying maybe it's not a great idea.
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  Speaker 5: What's the thought behind that?
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  Speaker 6: I guess just around the administration. So often when you've
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  Speaker 6: got a bond, not.
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  Speaker 7: Often, occasionally when you've got a bond, they're not necessarily.
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  Speaker 6: The tenant and the landlord agree that it should all
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  Speaker 6: be refunded to the tenant at the end of the
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  Speaker 6: lease if there's some damage or there's cleaning that needs
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  Speaker 6: done or some rent that's owing perhaps. So there's kind
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  Speaker 6: of questions around if there is damage or there's arrears
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  Speaker 6: at the old property, what the administration process would be
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  Speaker 6: and if there's any eligibility and also recovering any debt
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  Speaker 6: because the government would actually be underwriting the debt for
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  Speaker 6: the bond on the old place if there was actually
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  Speaker 6: anything owing. So just understanding what the complexity around those
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  Speaker 6: things would be important.
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  Speaker 3: And there's a number of levels to it, like we've said.
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  Speaker 3: And so when this sort of first came back into
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  Speaker 3: the news, because as I said, it's been around for
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  Speaker 3: a while, And there's different versions in the states and
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  Speaker 3: territories as well. When it came back into the news,
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  Speaker 3: what were some of the conversations that you're having with
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  Speaker 3: property managers or anyone else that came to you to
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  Speaker 3: speak to about this?
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  Speaker 7: Yeah.
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  Speaker 6: So, I mean, most people are generally in favour as
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  Speaker 6: long as the administration, it's very clear that the back end,
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  Speaker 6: so the bonds, rental bonds office has got some really
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  Speaker 6: straightforward processes and information about how it's supposed to roll out.
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  Speaker 6: Often with these processes, like the ideas are really good,
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  Speaker 6: but not necessarily the back end is ready to go
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  Speaker 6: as soon as the legislation is announced. So I guess
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  Speaker 6: it's one of those things to make sure that the
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  Speaker 6: processes are in place, it's really clear, and that it
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  Speaker 6: doesn't hold up a landlord if they are owed money
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  Speaker 6: because the property is damaged or there's rent owing. It
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  Speaker 6: doesn't get held up because of administration on the back end.
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  Speaker 4: Yeah, sure.
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  Speaker 1: And okay, so nine months to look into.
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  Speaker 5: The feasibility of it.
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  Speaker 1: We'll see kind of, I guess, what comes out of
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  Speaker 1: that and probably touch base with you then as well, Maria.
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  Speaker 5: Thank you so much for explaining that for us.
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  Speaker 2: No problem.
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  Speaker 7: Thanks for having me. Cheers.
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  Speaker 1: I'm Maria Edwards, CEO at the Real Estate Institute of
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  Speaker 1: the ACT. Well, Cam, with the exception of today and yesterday,
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  Speaker 1: it's a bit funny timing we're doing this interview today,
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  Speaker 1: but we have had some beautiful, warm, sunny days in
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  Speaker 1: Canberra already.
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  Speaker 2: Yeah, absolutely.
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  Speaker 3: And of course, we know at this time of the year,
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  Speaker 3: reptiles become much more active.
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  Speaker 7: Yes.
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  Speaker 3: And so we tagged this weekend. to speak about snakes
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  Speaker 3: in Canberra in the Capital Region. Absolutely.
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  Speaker 1: And it's particularly relevant for people in your position because
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  Speaker 1: you've recently moved.
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  Speaker 3: Yeah, absolutely. In June, we settled and did all that.
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  Speaker 3: So we've had that whole process and there were some
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  Speaker 3: interesting experiences gained through that, which we'll make their way
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  Speaker 3: into the show over the coming months and into early
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  Speaker 3: next year but yeah so we've moved uh relocated from
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  Speaker 3: Canberra we've doubled down on the south side Renee yes.
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  Speaker 5: You've gone even further south yes.
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  Speaker 3: We're now in Upper Tharwa yes or Banks the suburb of.
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  Speaker 5: Banks yeah gotcha gotcha gotcha.
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  Speaker 3: And so we back onto bushland right so now this
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  Speaker 3: is a thing for us to be thinking about snakes
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  Speaker 3: and of course uh You know, eastern brown snakes are beautiful,
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  Speaker 3: beautiful creatures, but they're also highly venomous and deadly.
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  Speaker 1: And so people like you are wondering what do we do,
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  Speaker 1: I guess, if we see one in our backyard, if
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  Speaker 1: we've got pets, young kids, all of that.
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  Speaker 2: That's it.
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  Speaker 5: Lots to consider.
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  Speaker 4: Yep.
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  Speaker 5: The man, the man to.
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  Speaker 1: Speak to, Gavin Smith, owner-operator at Snake Removals. You would
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  Speaker 1: have seen him active on socials. He gets around everywhere. Gavin,
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  Speaker 1: good morning.
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  Speaker 2: Good morning.
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  Speaker 4: Hi, morning, Renee. Good to be on the show.
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  Speaker 1: Yeah, thanks for coming on. Now, look, what are the
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  Speaker 1: most common snakes found in Canberra, Gavin? And are we
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  Speaker 1: expecting to see more of them, you know, over the
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  Speaker 1: coming sort of weeks and months?
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  Speaker 4: Yeah, so look, very clear sort of winner here is
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  Speaker 4: the eastern brown snake is 80% of call outs I do. 80%
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  Speaker 4: of snakes I catch in and around the Canberra region,
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  Speaker 4: and that includes New South Wales, are the eastern brown snake.
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  Speaker 4: And then followed by the red-bellied black snake. And actually,
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  Speaker 4: funnily enough, I'm just literally in Royala as we speak,
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  Speaker 4: a way to collect a red-bellied black snake from a shed.
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  Speaker 7: So that's number two.
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  Speaker 4: And then you get the odd tiger snake appearing in
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  Speaker 4: different parts of Canberra surrounds. But really, the eastern brown
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  Speaker 4: is the key guy you're going to mainly encounter with
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  Speaker 4: the red-bellied number two.
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  Speaker 7: Yeah, okay.
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  Speaker 3: And so is there anything that you can do to
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  Speaker 3: keep snakes out of it, particularly backyards?
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  Speaker 2: Yeah.
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  Speaker 4: So, Cam, where you've moved to.
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  Speaker 7: Is a beautiful part of the world.
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  Speaker 4: I know it well. I used to live in Theodore.
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  Speaker 7: So, I know your area very, very well.
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  Speaker 4: I spent a lot of time in Rob Roy. And so, yeah,
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  Speaker 4: you are going to, you know, all folks have got
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  Speaker 4: properties back onto reserves. They've got to expect there's going
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  Speaker 4: to be snake activity and there's going to have... snake
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  Speaker 4: visitors at some point and so there really is no
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  Speaker 4: surefire panacea way of keeping them out of your yard
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  Speaker 4: um i mean that you know we've we've got to
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  Speaker 4: remember we have whether we like it or not whether
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  Speaker 4: we accept it or not we have built our properties
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  Speaker 4: onto naturally occurring landscapes and habitats these animals encroached on
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  Speaker 4: their on their homes so they they will return to
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  Speaker 4: you know we've seen this in our project they will
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  Speaker 4: return to places that they um They've always lived. They
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  Speaker 4: have a high fidelity, site fidelity. So what you can do,
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  Speaker 4: of course, is have, you know, really solid color bond
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  Speaker 4: fences on the perimeter. That's certainly one helpful mechanism because
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  Speaker 4: it's gaps and open spaces like, you know, little gaps
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  Speaker 4: and fences that get under over.
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  Speaker 7: But, you know, these guys can climb as well.
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  Speaker 4: So it's important to say that you can think about
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  Speaker 4: putting something like sunshade cloths. against your fence as well
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  Speaker 4: because that obviously acts as a nice little barrier that
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  Speaker 4: the snake can't get through and it sort of slides
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  Speaker 4: down if it tries to get over that. But really
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  Speaker 4: keeping a tidy yard, I think for everyone that's got dogs,
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  Speaker 4: I know about half of Canberrans probably have a dog.
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  Speaker 4: It really is. This is the peak period between now
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  Speaker 4: and the end of October for movement activity. That is
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  Speaker 4: the busiest part of the season because males are moving
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  Speaker 4: around the landscape looking for females to mate with. Okay,
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  Speaker 4: all right.
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  Speaker 3: So let's do some myth busting here because we've done
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  Speaker 3: a lot of reading about this as well. And so
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  Speaker 3: color bond fencing is going to be an extra expense
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  Speaker 3: that we're incurring very shortly. And we'll be on the
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  Speaker 3: phone to our good friends at WR Engineering to get
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  Speaker 3: that done. So number one, blue-tongued lizards. If you have
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  Speaker 3: some blue-tongued lizards in the backyard, big ones, Does that
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  Speaker 3: keep snakes away?
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  Speaker 4: Look, it doesn't. No, it definitely doesn't keep snakes away. So,
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  Speaker 4: I mean, the relationships between reptiles like in sort of
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  Speaker 4: interspecies is very complex. So sometimes blue tongue lizards are
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  Speaker 4: a pre-item for eastern brown snakes. So they will very
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  Speaker 4: happily eat a blue tongue lizard. If it's a large
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  Speaker 4: blue-tongued lizard, it's going to mean that the snake's got
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  Speaker 4: a lot of energy expenditure to try and overpower it
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  Speaker 4: and get it down, and it can't actually fit it
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  Speaker 4: in its mouth, then obviously it's not going to eat
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  Speaker 4: that prey item, and therefore it may be slightly deterred
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  Speaker 4: from hanging around there for long if the blue-tongued's too
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  Speaker 4: big to eat, and it'll keep looking for other food
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  Speaker 4: like frogs and mice or smaller blue-tongued. So just important
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  Speaker 4: for people to know that, yes, snakes love eating blue-tongued, tongues,
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  Speaker 4: particularly smaller ones, and also they might even take bearded
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  Speaker 4: dragons as well, if they're small enough. So that's one
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  Speaker 4: definitely myth to bust. If you have a blue tongue,
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  Speaker 4: it may mean that you have a snake coming along
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  Speaker 4: to eat it, but also we have seen in our
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  Speaker 4: project same borough site so it's complex oh.
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  Speaker 3: Okay okay now we have to be quick here because
• 11:24
  Speaker 3: we're running out of time so let's do the second
• 11:25
  Speaker 3: one so if you walk outside and stamp on the
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  Speaker 3: ground or fuck your hands or what.
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  Speaker 2: Was the what was the thing what was the lager
• 11:32
  Speaker 2: the lager.
• 11:32
  Speaker 3: Phone you know the stick with the big.
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  Speaker 5: Bottle tops on the end of it would that come
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  Speaker 5: in handy.
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  Speaker 3: If you have a lager phone at home or is
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  Speaker 3: that not going to do anything Guys.
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  Speaker 4: So snakes have no external ears, so they don't hear
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  Speaker 4: in a conventional way like we do, but they do,
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  Speaker 4: we believe, pick up And they have kind of like
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  Speaker 4: an internal sort of sensory system that does pick up
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  Speaker 4: on some sound frequencies. So maybe, yes, some days stamping.
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  Speaker 7: Your feet on the ground, making a lot of noise
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  Speaker 7: might make.
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  Speaker 4: A snake move on. But other times the snake's just
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  Speaker 4: going to sit there, lie under the grass, use its camouflage,
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  Speaker 4: and what we call cryptosis, when it just stays completely
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  Speaker 4: still and blends in, and it's not going to do anything. sometimes,
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  Speaker 4: and they'll do nothing. So please don't feel that that's
• 12:20
  Speaker 4: always going to work. Sometimes it might work, and particularly
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  Speaker 4: if the snake's optimally heated and is alert and can
• 12:25
  Speaker 4: sort of sense your presence coming, then it might shoot off. Otherwise,
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  Speaker 4: it may just stay completely still and hope that you
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  Speaker 4: just move beyond it.
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  Speaker 5: Okay.
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  Speaker 1: And just quickly, Gavin, should people, if they have them
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  Speaker 1: in their backyard, should they just let them go or
• 12:37
  Speaker 1: call you?
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  Speaker 4: Yeah, look, guys, I'm always happy and I get thousands
• 12:43
  Speaker 4: of calls every season. I'm always happy to take calls
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  Speaker 4: and give information and reassurance and risk assess with you
• 12:49
  Speaker 4: about whether the snake needs to be moved. But I
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  Speaker 4: have to say, guys, for a lot of the time,
• 12:53
  Speaker 4: we can just leave these guys alone. Now, of course,
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  Speaker 4: the main thing we've just got to.
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  Speaker 7: Manage here is just the dogs, the dogs not getting
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  Speaker 7: to the snake.
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  Speaker 4: So that's... maybe a conversation we've got for a longer time,
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  Speaker 4: talking about some of the measures you can put in
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  Speaker 4: to try and reduce the incidence of dogs finding snakes
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  Speaker 4: and there being a bad and adverse interaction from the two.
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  Speaker 3: Next week, you're on again to talk about that.
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  Speaker 1: We're going to get you on because this is a
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  Speaker 1: topic many Canberrans are interested in for sure.
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  Speaker 5: Gavin, thank you so much for your time this morning.
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  Speaker 1: We will have to speak to you again soon to
• 13:22
  Speaker 1: dig down further on this, but thank you very much.
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  Speaker 7: Thanks, Renee.
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  Speaker 2: Thanks, Cam.
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  Speaker 7: Have a nice day. Cheers.
• 13:27
  Speaker 5: Gavin Smith from ACT Snake Removals there.
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  Speaker 4: Gosh, he's a clever man.
• 13:31
  Speaker 1: All right, Cam, well, the latest Cotality Home Value Index
• 13:34
  Speaker 1: is out. About once a month or so, we check
• 13:37
  Speaker 1: in with Sam McGregor from Windrose Property just to find
• 13:41
  Speaker 1: out what it all means for us here locally. And
• 13:44
  Speaker 1: he joins us now.
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  Speaker 5: Sam, good morning.
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  Speaker 2: Renee, good morning. How are you? Good.
• 13:47
  Speaker 5: Staying dry this morning out there?
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  Speaker 2: I'm trying my hardest to. I don't think I'll be
• 13:51
  Speaker 2: dry by the end of the day, though.
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  Speaker 5: Yeah, that's it.
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  Speaker 1: That's it, for sure. But like you said, you know,
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  Speaker 1: opens still happen, absolutely. Can you give us an overview
• 13:59
  Speaker 1: of this latest report and what it means for Canberra?
• 14:02
  Speaker 7: Oh, sure, Cam. This is an interesting one.
• 14:03
  Speaker 2: Prices in Canberra, or the average median is there.
• 14:08
  Speaker 7: That's the right word.
• 14:09
  Speaker 2: 1.1% drop over the last quarter, which is probably the
• 14:12
  Speaker 2: most significant that we've seen since we've been having these conversations,
• 14:15
  Speaker 2: and we must have been doing it for three or
• 14:16
  Speaker 2: four years now. Yes, we have.
• 14:18
  Speaker 1: Yep.
• 14:19
  Speaker 2: The median dwelling value on Canberra was a nudge over 860,
• 14:23
  Speaker 2: which from its peak was about 895, and I think
• 14:26
  Speaker 2: that was probably in November-ish last year. So we've started
• 14:29
  Speaker 2: to see some significant drops, and it's probably the first
• 14:31
  Speaker 2: time it's really been reflected in these numbers.
• 14:33
  Speaker 3: Okay. And so, of course, you know, leading up to
• 14:35
  Speaker 3: 2 o'clock or 2.30 on Tuesday afternoon through the week,
• 14:37
  Speaker 3: we were holding our breaths. We sort of knew what
• 14:39
  Speaker 3: was going to happen anyway. And so was there anything
• 14:44
  Speaker 3: that sort of surprised you once that figure was announced
• 14:47
  Speaker 3: and then it all sort of plays into the report
• 14:49
  Speaker 3: and everything? What popped for you out of the report
• 14:52
  Speaker 3: as you read through it?
• 14:54
  Speaker 2: Well, the thing that really surprised me is that it
• 14:58
  Speaker 2: does conflict with what we're seeing on the ground.
• 15:01
  Speaker 7: Like, it's quite a significant drop.
• 15:04
  Speaker 2: To see 1.1% over the last month. But I think
• 15:08
  Speaker 2: what you've got to remember, of course, is that that's
• 15:10
  Speaker 2: kind of the month of, it's really the first month
• 15:12
  Speaker 2: of spring or last month of winter period. And so
• 15:16
  Speaker 2: these numbers are kind of trickling in a little bit behind.
• 15:18
  Speaker 2: And what we're seeing on the ground at the moment,
• 15:20
  Speaker 2: or what I'm personally seeing is quite a lot of
• 15:22
  Speaker 2: really engaged buyers who are thinking, well, the general conversation
• 15:27
  Speaker 2: or the, you know, the rhetoric across the media is
• 15:29
  Speaker 2: that it's everything's in the toilet, if I could use
• 15:32
  Speaker 2: that colloquially, but it's kind of not because people realise
• 15:35
  Speaker 2: maybe this is a great time to buy. And they're
• 15:37
  Speaker 2: probably not wrong either because the houses that I'm selling,
• 15:40
  Speaker 2: the people that I'm working with at the moment, they're
• 15:42
  Speaker 2: on the market because they're there to sell, as in
• 15:44
  Speaker 2: the vendors are.
• 15:45
  Speaker 7: And so they don't have their expectations.
• 15:47
  Speaker 2: Where they would have even 12 months ago. They're really saying, well,
• 15:50
  Speaker 2: we're here to sell, we're here to make a move
• 15:52
  Speaker 2: for our lifestyle, whatever the case is. So we'll make
• 15:54
  Speaker 2: the market today. So So what I think is interesting
• 15:57
  Speaker 2: about it is kind of the balance between the rhetoric
• 16:01
  Speaker 2: that the market set down and what we're seeing on
• 16:02
  Speaker 2: the ground, which is that quality homes are actually selling
• 16:05
  Speaker 2: pretty well. Yeah, yeah, yeah.
• 16:06
  Speaker 3: And so just reading through your comments on your website
• 16:10
  Speaker 3: that you published as well after this report, I read
• 16:13
  Speaker 3: that you're telling vendors that they can be on the
• 16:16
  Speaker 3: market or in the market.
• 16:19
  Speaker 5: Yeah, so what does that mean?
• 16:22
  Speaker 7: Mate, it's a good one. Look, it's quite simple.
• 16:24
  Speaker 2: You can be on the market or you can be
• 16:26
  Speaker 2: in it and they're ready to sell.
• 16:27
  Speaker 7: That's the way I'm seeing it. Just because your house
• 16:29
  Speaker 7: has a for.
• 16:29
  Speaker 2: Sale sign at the front doesn't mean that it's actually
• 16:31
  Speaker 2: in the market. It's there and it's able to be purchased.
• 16:35
  Speaker 2: But what I mean by that is you're either here
• 16:37
  Speaker 2: to sell or you're here to sit and wait and
• 16:39
  Speaker 2: decide in six months maybe it's not the right time
• 16:41
  Speaker 2: for us. And that's really what I'm saying to a
• 16:43
  Speaker 2: lot of vendors at the moment is you've got to
• 16:44
  Speaker 2: make the decision, do I want to sell over the
• 16:47
  Speaker 2: next couple of months because, you know, what you said
• 16:49
  Speaker 2: about interest rates, it's not easy for people to borrow
• 16:52
  Speaker 2: money at the moment and it's not going to get
• 16:54
  Speaker 2: easier anytime soon, which means if you want to sell
• 16:56
  Speaker 2: your house, you're going to have to meet the market.
• 16:58
  Speaker 7: And so, yeah, it's quite simple. That's what I'm saying
• 17:01
  Speaker 7: to people at the moment.
• 17:02
  Speaker 2: I think it's probably the takeaway for the next couple
• 17:03
  Speaker 2: of months. You're either on the market or you're in it.
• 17:05
  Speaker 2: You make the choice.
• 17:06
  Speaker 4: Okay.
• 17:06
  Speaker 2: All right.
• 17:07
  Speaker 1: And so those drops that we're seeing that you spoke
• 17:10
  Speaker 1: about just before, are they kind of widespread across the
• 17:13
  Speaker 1: market or are they more isolated to people more expensive
• 17:17
  Speaker 1: homes or is that kind of happening across the board?
• 17:20
  Speaker 7: Look, that's an interesting one. There's two answers to that.
• 17:23
  Speaker 2: Locally, Canberra is outperforming the rest of the country. One
• 17:27
  Speaker 2: of the numbers in that report that I didn't touch
• 17:29
  Speaker 2: on is that the market is actually still up 2.5%
• 17:31
  Speaker 2: over the last 12 months in Canberra. Sydney's down about 6%
• 17:35
  Speaker 2: or something like that across that period. So Canberra is
• 17:38
  Speaker 2: significantly stronger as a market than the.
• 17:41
  Speaker 7: Rest of the country.
• 17:42
  Speaker 2: But from a price point perspective, it really is the
• 17:45
  Speaker 2: higher-end sort of luxury homes that are being impacted. I'm
• 17:47
  Speaker 2: seeing some of them down 10%, 15% where you would
• 17:49
  Speaker 2: have thought they would have been three, six months ago.
• 17:52
  Speaker 2: But again, the reality is that those homes, if you've
• 17:54
  Speaker 2: owned it for more than 12 months, you've probably.
• 17:57
  Speaker 7: Made 20% or 30% on it in the last 18
• 17:58
  Speaker 7: months anyway.
• 17:59
  Speaker 2: So... So that's kind of my point when I say
• 18:02
  Speaker 2: if you're on the market or you're in it, you're
• 18:04
  Speaker 2: either willing to make today's price or you're going to
• 18:05
  Speaker 2: own your house for another 12 or 18 months until
• 18:07
  Speaker 2: things start looking better.
• 18:08
  Speaker 4: Yep, yep. Gotcha.
• 18:09
  Speaker 5: Makes total sense. All right, Sam.
• 18:11
  Speaker 1: Well, thank you for your time this morning as always.
• 18:14
  Speaker 1: Stay as dry as you can and all the best
• 18:17
  Speaker 1: with no doubt. You've got a bunch of busy opens today.
• 18:20
  Speaker 2: Yeah, busy day. Thanks so much, Renee.
• 18:21
  Speaker 7: Thanks, Cam.
• 18:21
  Speaker 2: Have a great Saturday.
• 18:22
  Speaker 4: You too.
• 18:23
  Speaker 7: Cheers.
• 18:23
  Speaker 5: Sam McGregor, who's the principal at Winrose Property.
• 18:26
  Speaker 3: Well, those are the interviews we most enjoyed in last
• 18:29
  Speaker 3: week's Mix 106.3 Real Estate Show. If you love hearing
• 18:32
  Speaker 3: about the latest trends or you're just up for a
• 18:34
  Speaker 3: sticky beak, be sure to drop by for a listen
• 18:37
  Speaker 3: this Saturday between 9 and 10.
• 18:39
  Speaker 5: Cam and Renee's Real Estate Show on Mix 106.3.