Latest / The Real Estate Show / Mix 106.3's Real Estate Show - 04/07/26

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Mix 106.3's Real Estate Show - 04/07/26 · The Real Estate Show

0:01
Speaker 1: Cameron Renee's real Estate show on Mix one O six
0:04
Speaker 1: point three Step into Stylish, low maintenance living in Canberra's
0:08
Speaker 1: Inner North to burk by JW.
0:10
Speaker 2: Land.
0:11
Speaker 3: Well can We had another awesome show for the Mix
0:13
Speaker 3: one six point three Real Estate Show and now it's
0:15
Speaker 3: time for another podcast.
0:16
Speaker 4: And one of the conversations that we had yes, sort
0:19
Speaker 4: of centered around an incident at your place, didn't it
0:22
Speaker 4: a bit.
0:22
Speaker 5: Of a dramatic incident.
0:24
Speaker 3: Indeed, last week we had a bit of a flooding
0:27
Speaker 3: situation because of a burst water pipe in the kitchen
0:29
Speaker 3: and you know it's not an unfamiliar tale, especially in
0:32
Speaker 3: older properties in Canberra.
0:33
Speaker 4: It happened to us a couple of years ago as
0:34
Speaker 4: well while we were away, and luckily youngest daughter Matilda
0:37
Speaker 4: was there, who I then had to talk on over
0:39
Speaker 4: the phone to try and get it to the point
0:41
Speaker 4: where we could get a plumber over, which is exactly
0:44
Speaker 4: what we did in the show.
0:45
Speaker 3: Yes, so we spoke to Lawrence Miller from Level Canberra
0:48
Speaker 3: about these exact situations and some things that you can
0:51
Speaker 3: do to try and prevent disaster from hitting your home.
0:54
Speaker 3: We also spoke to Alec Brown, our sales director and
0:57
Speaker 3: auctioneer at Ray White about auctions in the aret in
1:00
Speaker 3: market because things have changed and it continued to be changed.
1:03
Speaker 4: Yeah, and some of the strategies that you can use
1:05
Speaker 4: as either a buyer or a seller. So I mean
1:08
Speaker 4: he's just has a wealth of knowledge, doesn't he.
1:10
Speaker 3: Yes, indeed, So we spoke to him about that, and
1:12
Speaker 3: we also spoke to Sam Ragregor as we like to
1:14
Speaker 3: each month from Windrow's Property about the latest totality report
1:18
Speaker 3: and what that shows for camera.
1:19
Speaker 4: And I sort of felt, and I mentioned this in
1:21
Speaker 4: the show that so we get to hear about this
1:23
Speaker 4: when it's published every month, but.
1:25
Speaker 6: This month they just seemed to be way more about it.
1:28
Speaker 6: This week.
1:28
Speaker 3: There was a lot more stories published, a lot more
1:30
Speaker 3: chatter about it. And Sam agreed, but I mean, it's
1:34
Speaker 3: such a hot topic in households at the moment.
1:37
Speaker 4: Okay, That's what's all ahead in the podcast, And we
1:40
Speaker 4: say thanks to JW. Land once again and also you
1:43
Speaker 4: for listening Mix one and six one three.
1:46
Speaker 3: Well can it doesn't feel like that long ago you
1:48
Speaker 3: and I were talking on this show about, you know,
1:52
Speaker 3: all the COVID craziness that was happening with the property market,
1:54
Speaker 3: all the dozens of people that were rocking up to
1:57
Speaker 3: open homes. That's right, auctions just selling at auction clearance
2:01
Speaker 3: rates being through the roof.
2:03
Speaker 5: And boy have things changed.
2:04
Speaker 4: Oh, they certainly haven't looked. I mean, the market is
2:07
Speaker 4: just so unstable at the moment, and you know, you
2:10
Speaker 4: speak to different agents and they've all got a different
2:12
Speaker 4: take on it. But what about what about like you say,
2:15
Speaker 4: auctions And yes, so because we've been seeing and you
2:17
Speaker 4: would have been reporting about this or on this through
2:20
Speaker 4: the weekend, the news about the sort of you know,
2:24
Speaker 4: auction clearance rates percentages down, down, down down down.
2:27
Speaker 5: Yes, and so we're going to find out what's behind
2:29
Speaker 5: all that.
2:29
Speaker 3: And Alec Brown is sales director and award winning auctioneer
2:33
Speaker 3: Array White Alec Morning.
2:36
Speaker 7: Morning Cam, Morning Camera.
2:37
Speaker 5: How are we Yes, we're great. Thank you so much
2:39
Speaker 5: for coming on now.
2:40
Speaker 3: Look, Alec numbers are showing that, you know, clearance rates
2:42
Speaker 3: have fallen, right. What have you experienced and seen over
2:45
Speaker 3: the last few weeks.
2:47
Speaker 7: Yeah, Look, we've certainly seen a change. So for the
2:50
Speaker 7: start of the year as a business, we were sort
2:52
Speaker 7: of hovering around that sixty sixty five percent clearance rate.
2:56
Speaker 7: First time in a very long time it feels back
2:58
Speaker 7: kind of sort of fifty four odd percent for the
3:01
Speaker 7: month of June. Were also see average bitter numbers decline.
3:05
Speaker 7: So for me, that's indicating there's a little bit of
3:07
Speaker 7: hesitancy in the market. Buyers are just way to see
3:10
Speaker 7: where the dust settles, what there's changes from the budget,
3:12
Speaker 7: from the recent interest rate hikes are going to mean,
3:15
Speaker 7: and so there's a bit of a gap in the market.
3:17
Speaker 7: And in many ways that's an advantage for a buyer. Well,
3:21
Speaker 7: you know, if you're going to be turning up to
3:22
Speaker 7: an auction, there's a probability that you'll have less competition
3:26
Speaker 7: than perhaps in a red hot market. But as a seller,
3:29
Speaker 7: the important way of looking at an advantage of still
3:32
Speaker 7: selling auction is if you compared your average clearance rate
3:35
Speaker 7: in under thirty days of an auction versus private treaty,
3:39
Speaker 7: it is just so stark the difference. If you're looking
3:41
Speaker 7: for that security of sale and the knowledge that you've
3:44
Speaker 7: created competition and you can accept the best from the marketplace,
3:47
Speaker 7: auction is absolutely still the way to go.
3:49
Speaker 5: Okay, that's exactly what I was about to ask you.
3:52
Speaker 3: Do you find that with how things are going that
3:54
Speaker 3: that's leading more agents to advising people to sell via
3:58
Speaker 3: private treaty.
3:59
Speaker 5: But you're saying know, not necessarily.
4:02
Speaker 7: You'd absolutely if you speak to the host of different agents,
4:05
Speaker 7: I'll have different opinions. And there's always a concern that
4:07
Speaker 7: the idea of passing in a property is a staying
4:10
Speaker 7: as a mark against your name. But look, the reality
4:13
Speaker 7: is where if the conditions are slightly more tricky to navigate,
4:17
Speaker 7: I would absolutely lean into some more certainty and security
4:21
Speaker 7: than the sort of ambiguous just put it out there
4:24
Speaker 7: or with a hope and a wish and see if
4:26
Speaker 7: it works, you know. So having an action plan I
4:28
Speaker 7: think is proven more importantly from a bias perspective. You know,
4:32
Speaker 7: if you're able to secure the property on the day,
4:35
Speaker 7: then it's yours. You've been able to move forward with
4:37
Speaker 7: your plans and the sale is secure.
4:39
Speaker 4: And so speaking of passing in, what should the interest
4:42
Speaker 4: ad buyers do if a property does pass in, what's
4:44
Speaker 4: the process of air and is it different because of
4:48
Speaker 4: you know, the clearance rate percentages at the moment or
4:50
Speaker 4: just business as usual.
4:53
Speaker 7: Look, it probably means if we are passing in in fact,
4:55
Speaker 7: one step before I guess turning up to an auction.
4:58
Speaker 7: I guess be prepared. There's a problem ability or a
5:00
Speaker 7: potential chance now more than previously that you might actually
5:04
Speaker 7: be the only registered bidder. Now that doesn't mean that
5:07
Speaker 7: you know one bid will buy it. You've got to
5:09
Speaker 7: go in prepared to potentially negotiate. But you're in the
5:12
Speaker 7: box seat. More importantly, if it does pass in, don't delay,
5:15
Speaker 7: express your interest to the agent and be willing to
5:18
Speaker 7: sort of collaboratively work towards putting forward an offer that's
5:22
Speaker 7: going to get you moving forward to secure the property.
5:24
Speaker 7: And you know, I can promise you in ten years
5:26
Speaker 7: from now you don't sort of look back on the
5:29
Speaker 7: price that you paid or the consideration that at the
5:32
Speaker 7: time was the value of the market will certainly have
5:35
Speaker 7: changed by then. And so to the enjoyment of having
5:38
Speaker 7: that home for such a period of time, yeah for sure.
5:40
Speaker 3: And Alec, look at how many options are you doing today?
5:43
Speaker 3: And which is one that you can't wait to be
5:46
Speaker 3: part of?
5:47
Speaker 7: Well, unusually how to bunch sell prior, which is also
5:51
Speaker 7: something that we're starting to see the metrics move up
5:53
Speaker 7: a little bit more as well, sort of you know,
5:55
Speaker 7: can be anywhere up to fifteen twenty percent week on
5:58
Speaker 7: week across the market that properties actually saw before the
6:01
Speaker 7: auction day, so well with mind selling prior as well
6:04
Speaker 7: as during the week. I'm a clean slate, but as
6:07
Speaker 7: a business fifty six Michella Creson in Cork eleven am.
6:11
Speaker 7: Check that one out. That is a gorgeous sign. But
6:13
Speaker 7: otherwise you'll just see me at the open homes like
6:15
Speaker 7: a regular agent.
6:16
Speaker 5: Okay, well we don't get to see you in action
6:18
Speaker 5: for the people of Canberra.
6:20
Speaker 6: Nothing regular about you, my friend.
6:22
Speaker 7: Yes, I'm going to give camera a break for twenty
6:25
Speaker 7: four hours or so.
6:27
Speaker 6: All right.
6:27
Speaker 3: Well, Alec, Yeah, thank you so much for Shane that
6:29
Speaker 3: we love having you on the show.
6:30
Speaker 5: So thank you so much for your time this morning.
6:33
Speaker 7: Really appreciate your time. Guys, Thank you so much. Enjoy
6:35
Speaker 7: hopefully a blue sky day.
6:37
Speaker 5: Yes, fingers crossed, Thank you so much.
6:39
Speaker 3: Alex Brown, who's sales director and award winning auctioneer at
6:42
Speaker 3: ray By.
6:43
Speaker 6: Let's hear this sorry tale. Renee.
6:45
Speaker 3: Hey, Well, well I came into work last week and
6:50
Speaker 3: you and I, you know, have a catch up about
6:52
Speaker 3: how our week's being, what's been happening.
6:53
Speaker 5: And one of the things I said to you our
6:55
Speaker 5: living room was underwalketup.
6:57
Speaker 3: So on Wednesday last week, my mum was at home
7:01
Speaker 3: looking after our two Litley's and one of the pipes
7:04
Speaker 3: burst under the kitchen sink and the.
7:06
Speaker 5: Water was going everywhere.
7:08
Speaker 3: Thankfully, we have awesome neighbors, a bunch of them, you know,
7:11
Speaker 3: kind of came over. The neighbor's son in law's a
7:14
Speaker 3: plumb us, so he came over and fixed it.
7:16
Speaker 4: So it was all hands on deck because the water
7:18
Speaker 4: was gushing.
7:19
Speaker 5: It was gushing. Mum's ringing me.
7:20
Speaker 3: I'm here at the radio station and she's getting dad
7:23
Speaker 3: to come over, and the neighbors and any it was
7:24
Speaker 3: a whole whole thing. I get home, there's mops in hand.
7:27
Speaker 3: I'll go and grab another one from another neighbor. It's
7:30
Speaker 3: a whole whole sun of the girls are locked in
7:31
Speaker 3: the rumpus room, you know. And we are lucky that
7:35
Speaker 3: we were actually home, because this happens to people who
7:37
Speaker 3: aren't home.
7:37
Speaker 5: And I know that you've had this happen before as well.
7:39
Speaker 4: Yes, and did only a couple of years ago, same thing.
7:41
Speaker 4: We're actually out of camera and Matilda, youngest daughter, was
7:44
Speaker 4: at home looking after the house and.
7:46
Speaker 5: She wouldn't have known what to do well.
7:48
Speaker 4: So it was the bathroom underneath the main vanity off
7:53
Speaker 4: it went bush, Yes, and so then I had to
7:56
Speaker 4: get on the phone and talk how to go out
7:58
Speaker 4: to the main water meter and turn it off.
8:00
Speaker 6: Yeah, anyway, so we got through it.
8:01
Speaker 4: But as a result of these sorts of life experiences, yes,
8:05
Speaker 4: it just makes for great content on the radio.
8:07
Speaker 3: Yes, we bring it to work and we share it
8:09
Speaker 3: with you guys, because we know this is not an
8:11
Speaker 3: unfamiliar tale, especially you know with older canbra properties and
8:15
Speaker 3: Lawrence Miller is one of the owners at local trade
8:18
Speaker 3: business level Camera.
8:19
Speaker 8: Good morning, get our guys, how are you yes.
8:22
Speaker 5: Good, Thank you so much for joining us.
8:24
Speaker 3: Now, look, why do older water pipes randomly burst at
8:29
Speaker 3: any given moment.
8:30
Speaker 9: Well, that's the question we get. We get asked all
8:33
Speaker 9: the time.
8:34
Speaker 6: Yeah, and the truth really is that they don't.
8:36
Speaker 8: Just randomly birth.
8:38
Speaker 9: So you know, most types have been slowly deteriorating over
8:43
Speaker 9: a long period of time, and there's usually some things
8:47
Speaker 9: you can see happening from the outside, but generally it's
8:50
Speaker 9: all on.
8:50
Speaker 8: The inside of the pipe.
8:52
Speaker 9: Right.
8:52
Speaker 7: But yeah, we're sort of you know, Camera.
8:55
Speaker 9: Having homes built between nineteen fifties and nineteen eighties and nineties,
9:00
Speaker 9: things are starting to age. And yeah, some of those
9:03
Speaker 9: warning signs, yeah, sometimes just can't be seen and they
9:07
Speaker 9: are they are unforeseen things that just do occur, Okay.
9:10
Speaker 4: And so if you do live in one of those
9:12
Speaker 4: older properties, like so the you know, our property was
9:14
Speaker 4: fifty years old, right, So is there any way that
9:17
Speaker 4: you can sort of maintain or check the water pipes
9:20
Speaker 4: as you go along?
9:22
Speaker 8: Yeah, Look, one of the key things to do if
9:25
Speaker 8: you've had it, if you've already had a leak before,
9:27
Speaker 8: you're likely to have a leak again. And then that's
9:30
Speaker 8: obviously where you align a licensed plumber to come in
9:34
Speaker 8: and have a look at the pipework and investigate and
9:37
Speaker 8: to see if there are things that can be upgraded.
9:39
Speaker 8: And traditionally, the more traditional bursts we're getting at the
9:43
Speaker 8: moment are usually under the synks with those those stainless
9:47
Speaker 8: steel braided hosers. Yeah yeah, yeah, but also too, heading
9:51
Speaker 8: into winter, obviously we're going to start to see the
9:54
Speaker 8: old frozen pipes starting to raise their head again.
9:58
Speaker 3: So yeah, and with my situation, Lawrence, we were lucky
10:04
Speaker 3: that our living room is a sunken living room, so
10:07
Speaker 3: the water cools.
10:09
Speaker 5: Our water kind of pooled in that area.
10:10
Speaker 3: But thankfully though it didn't spread to others area of
10:13
Speaker 3: the house, which of cause, would have caused more of
10:15
Speaker 3: a problem because we were different flooring in other areas
10:17
Speaker 3: of the house.
10:17
Speaker 5: But no doubt, you've.
10:18
Speaker 3: Seen, no doubt you've seen it all in your time.
10:21
Speaker 3: What's the worst example of this happening that you've been
10:23
Speaker 3: caught out to?
10:25
Speaker 10: Look?
10:26
Speaker 9: Last year, do you remember the cold snap? And it
10:28
Speaker 9: was so we were experiencing somewhere near minus five.
10:32
Speaker 8: Seven that winter.
10:34
Speaker 9: So this this, we had over one hundred and thirty
10:38
Speaker 9: calls that weekend. But this and Lucky May I was
10:42
Speaker 9: on call there with the guys, and we've got to
10:44
Speaker 9: call that to this this lady on the Monday, right,
10:48
Speaker 9: So she'd returned home from her time away. Yeah, and
10:52
Speaker 9: the line, the water pipe to her evap cooler was
10:55
Speaker 9: hadn't been drained for the winter, and it had split
10:58
Speaker 9: and ran for two days down through the ceiling, then
11:02
Speaker 9: into a kitchen, destroyed a kitchen, and then obviously then
11:06
Speaker 9: the mold starts to set in. You know, by the
11:08
Speaker 9: time she got home and her heater was on, the
11:10
Speaker 9: house was warming up a little bit and it was
11:12
Speaker 9: an absolute disaster.
11:13
Speaker 2: I felt it absolutely terrible for her. But we're obviously
11:16
Speaker 2: able to fix it up, and we work fairly closely
11:19
Speaker 2: with a cleaning company, so we're able to, yeah to
11:22
Speaker 2: you know, get things clean up. But yeah, there was
11:24
Speaker 2: her endous.
11:25
Speaker 9: Damage there, like lots of a kitchen, flooring, roof, ceiling,
11:29
Speaker 9: you know, all those things, so really disaster it imagine
11:32
Speaker 9: home to that.
11:33
Speaker 3: Well, that's the thing, Like, we were just lucky that
11:35
Speaker 3: someone was there when it happened, and you know, your
11:37
Speaker 3: daughter was there in your case and my mum and mind,
11:39
Speaker 3: but so many cases people are away and things like that,
11:42
Speaker 3: and it's much worse.
11:43
Speaker 5: But all right, Lawrence, well that was really interesting.
11:46
Speaker 3: Thank you for letting me not only vent to you,
11:49
Speaker 3: but also learn a little bit about the work that
11:51
Speaker 3: you do there.
11:52
Speaker 5: So thank you so much.
11:54
Speaker 8: No dramas at all.
11:55
Speaker 3: All right, have a good weekend, Lawrence Miller, who's one
11:57
Speaker 3: of the owners of local Trade business Level Care. Well,
12:01
Speaker 3: Cam is that time again. About once a month or so,
12:03
Speaker 3: we love to learn about the latest catality Home Value Index,
12:07
Speaker 3: which is a national report, but we find out what's
12:09
Speaker 3: in it locally.
12:10
Speaker 4: I sort of feeled this month and so when they
12:13
Speaker 4: publish it.
12:14
Speaker 6: It gets plenty of exposure in the news across all mediums.
12:19
Speaker 6: I sort of feel this week though it was more.
12:22
Speaker 5: It definitely was more.
12:23
Speaker 3: I completely agree with you, and let's perhaps find out
12:27
Speaker 3: why and say good morning to Sam McGregor, principal at
12:29
Speaker 3: Windrows Property.
12:30
Speaker 5: Sam, good morning, good morning, How are you good?
12:33
Speaker 3: Do you agree that it's been around a bit more
12:36
Speaker 3: this time around?
12:37
Speaker 5: Like talk about it?
12:38
Speaker 10: I absolutely do. I think it's the hottest topic at
12:41
Speaker 10: the dinner table and on the radio.
12:43
Speaker 7: I suppose these property values.
12:45
Speaker 3: Yeah, and tell us what that looks like for Canberra
12:47
Speaker 3: in the latest report.
12:49
Speaker 10: Well, there reports to me an interesting one.
12:51
Speaker 7: For the month of June.
12:53
Speaker 10: Values fell in Canbra by zero point six of a percent,
12:56
Speaker 10: which takes us to one point three percent down. For
12:59
Speaker 10: the court average or medium house price is eight eighty five,
13:04
Speaker 10: which is probably down from about just under nine hundred
13:06
Speaker 10: out its peak when we were talking a little while ago,
13:08
Speaker 10: and for units is about six hundred thousand.
13:10
Speaker 4: Okay, And so I'm sure that would have when you
13:13
Speaker 4: open the report and you read it, that's pretty surprising.
13:15
Speaker 6: What else sort of popped out for you this month round?
13:19
Speaker 10: Cam? Well, I think like the numbers of what I'm
13:22
Speaker 10: there to look at, But the thing that pops out
13:23
Speaker 10: at me is the maybe conflation between what you hear
13:27
Speaker 10: on the streets quote and what's actually represented in the numbers.
13:31
Speaker 10: People are talking about the bottom falling out of the
13:33
Speaker 10: market and you know, a crash or impending or current,
13:38
Speaker 10: but you know, one point six percent across quarter is
13:42
Speaker 10: it's pretty negligible when it comes down to it. So
13:44
Speaker 10: I think that jumps out of me is the fact
13:45
Speaker 10: that you know, the bottom really isn't falling out of
13:47
Speaker 10: the market like people would like to think that it is.
13:50
Speaker 6: And so does that mean there's is there plenty of
13:53
Speaker 6: buyers around?
13:55
Speaker 10: But it's very interesting because what I'm seeing is that
13:57
Speaker 10: there are I actually think that there are more serious
14:00
Speaker 10: buyers now than there were six months ago in the market.
14:03
Speaker 10: We're doing a lot of deals out of our office
14:06
Speaker 10: and an average price point that is higher than we
14:10
Speaker 10: might normally do. I think that that's probably like it's
14:13
Speaker 10: a bit reading tea leaves to say this, of course,
14:15
Speaker 10: but the conversations that I'm having on the street with
14:18
Speaker 10: these buyers really is that they're going well, the market's
14:20
Speaker 10: definitely not going up at the moment, and the way
14:26
Speaker 10: that we're reading the starts at the moment, there's a lot.
14:27
Speaker 7: Of things that are causing prices to come.
14:29
Speaker 10: Down, which means it's probably not a bad time to buy.
14:33
Speaker 10: The market's not going to drop another ten percent. So
14:37
Speaker 10: I'm seeing a lot of people that are looking to
14:38
Speaker 10: buy really high quality homes just to move their family.
14:42
Speaker 3: And what do you think are those main factors that
14:43
Speaker 3: are driving prices to come down? Is it interest rate related?
14:46
Speaker 3: Is it what was in the budget or all of
14:48
Speaker 3: the above or something else.
14:49
Speaker 10: Oh, look at the trifector of the budget, the wars and.
14:52
Speaker 7: Fuel passes in inflation, and then.
14:53
Speaker 10: Obviously the interest rates that are coming into combat that.
14:58
Speaker 10: But I suppose you could also put the headline on
15:00
Speaker 10: that is that's what people are talking about. We're all
15:02
Speaker 10: talking about those things, and so that's what's actually you know,
15:05
Speaker 10: market sentiment is what's pushing prices down. But the impressive
15:09
Speaker 10: thing about those numbers is zero point six percent in
15:12
Speaker 10: the first month of winter in what is probably the
15:14
Speaker 10: toughest market we've seen. Quote is kind of nothing.
15:18
Speaker 4: And you for yourself today, I have you had a
15:20
Speaker 4: busy day?
15:20
Speaker 6: Is the one that you want to mention that you'll
15:22
Speaker 6: be out, you know, showing people.
15:24
Speaker 10: Yes, it's made outstandingly busy day today, but I'm so
15:28
Speaker 10: excited because the sun's out's going to beautiful.
15:30
Speaker 5: This is my favorite.
15:31
Speaker 10: Probably I'm showing at the moment is nineteen Government Drives
15:34
Speaker 10: in marn Bateman. Absolutely gorgeous executive home.
15:37
Speaker 7: And that's why I'm getting a.
15:38
Speaker 10: Lot of interesting again as well. And when you start
15:40
Speaker 10: talking one point nine million dollars for a house, it's
15:42
Speaker 10: kind of surprising to see many people around it. All
15:44
Speaker 10: that alone a lot, So I'm excited for what the
15:46
Speaker 10: head today.
15:47
Speaker 3: Okay, well you've got a very busy day as you
15:49
Speaker 3: always have. Sam, thank you. I'm so much for your
15:51
Speaker 3: time this morning. We'll speak to you again soon.
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Speaker 10: Thanks. Thanks, Cam, have a good day.
15:55
Speaker 3: Cheers Sam McGregor, who's the principal at Windrows Probably Well.
15:58
Speaker 4: Those are the interviews we host enjoyed in last week's
16:01
Speaker 4: Mix one O six point three real Estate Show. If
16:04
Speaker 4: you love hearing about the latest trends, or you're just
16:06
Speaker 4: up for a sticky beak, be sure to drop by
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Speaker 4: for a listen this Saturday between nine and ten Cam
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Speaker 1: And Rene's Real Estate Show on Mix one O six
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Speaker 1: point three