Latest / The Real Estate Show / Mix 106.3's Real Estate Show - 25/07/26

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Mix 106.3's Real Estate Show - 25/07/26 · The Real Estate Show

0:00
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 work by JW.
0:10
Speaker 2: Land.
0:11
Speaker 3: Well, Cam, We're ready and excited for another Mixed one
0:13
Speaker 3: o six point three real estate show podcast.
0:15
Speaker 4: Yes Indeed or thanks to JW.
0:16
Speaker 5: Land I loved I really loved our conversation with Steve Low,
0:20
Speaker 5: director and agent Team cambre in and around deposits and
0:23
Speaker 5: we asked a question if you go to a negotiation
0:26
Speaker 5: in a private tender situation with a bigger deposit, does
0:29
Speaker 5: that give you.
0:30
Speaker 4: More power if you put it down?
0:32
Speaker 5: Is there more sort of chance that they're going to
0:34
Speaker 5: say yes to your offer?
0:36
Speaker 3: And we asked that question as well as what other
0:38
Speaker 3: things can you do to you know, strengthen your chances
0:41
Speaker 3: of locking it in?
0:42
Speaker 4: And he had a really good range of tips, didn't he.
0:43
Speaker 3: He sure did. And we also spoke to doctor Nicola
0:46
Speaker 3: Powell from Domain about the latest house price report and
0:49
Speaker 3: what that shows for Canberra a downturn it seems around
0:51
Speaker 3: the country and hearing Canberra too.
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Speaker 4: Yeah, what was a big surprise for her?
0:54
Speaker 5: Because there was there was a surprise in this report's
0:57
Speaker 5: figures that absolutely popped off the stage.
1:00
Speaker 4: So she talked about that as well.
1:01
Speaker 3: Yeah, absolutely, and we love we always getting her insights
1:04
Speaker 3: and perspective. And we also checked in with Hannah gil
1:07
Speaker 3: director at Podium Property Management. We extended on a recent
1:10
Speaker 3: conversation we had about selling an investment property with tenants
1:13
Speaker 3: in place, so we flesh that out a bit more
1:15
Speaker 3: with her because it's a tricky situation for everyone.
1:18
Speaker 5: It's so right and I think the word that came
1:20
Speaker 5: out of the whole interview lindness be.
1:23
Speaker 3: Kind and put yourself in someone else's shit.
1:26
Speaker 4: Yes, yes, indeed.
1:27
Speaker 5: All right, So that's the podcast right now. Just before
1:29
Speaker 5: we get to it all, we have a property tip
1:31
Speaker 5: all thanks to LISTA.
1:32
Speaker 6: I think it's a tough market it can be, but
1:35
Speaker 6: the home selling fastest aren't always the cheapest, they're often
1:38
Speaker 6: the best presented. A little effort before you list can
1:42
Speaker 6: make a massive difference. This tip was brought to you
1:45
Speaker 6: by LISTA.
1:46
Speaker 3: Well, can imagine you've found a place You've been searching
1:49
Speaker 3: high and low, you know, for a place you really want.
1:51
Speaker 3: You've found one that you absolutely love. You want to
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Speaker 3: put your best foot forward, you want to throw everything
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Speaker 3: at it right to lock it in, lock it down
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Speaker 3: yep is one of the ways you could do that
2:00
Speaker 3: putting in a higher deposit than what's required. We're wondering
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Speaker 3: this morning and Steve Lowe is director at Agent Team Canberra.
2:09
Speaker 3: Good morning, Steve, good morning. Now, firstly, before we get
2:13
Speaker 3: into that, when you're putting a deposit down on a property,
2:15
Speaker 3: what are the requirements?
2:16
Speaker 4: Does it a bit different in the Act to New
2:18
Speaker 4: South Wales?
2:19
Speaker 3: Right right?
2:20
Speaker 7: Or no, it's a bit more different in Queensland Act
2:25
Speaker 7: in New South Wales are very.
2:26
Speaker 3: Similar, okay, and so what are the requirements there?
2:30
Speaker 7: All right? So we'll talk about private treaties are not
2:32
Speaker 7: an option. So private treaty when you make it off
2:35
Speaker 7: on the property before it can exchange, you need to
2:37
Speaker 7: have the deposit cleared in the stakeholder's trust account. Stakeholder
2:41
Speaker 7: could be the agent or it could be the solicitor.
2:44
Speaker 7: It's always on the front page of the contract. The
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Speaker 7: deposit at risk is always ten percent. So there's a
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Speaker 7: box next to the deposit on the front page which
2:55
Speaker 7: there's the positive plan installments. Because if your two applies,
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Speaker 7: if that is picked, you can pay a five percent deposit.
3:00
Speaker 7: But if you pull outther deal. After exchange, you lose
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Speaker 7: your five percent and they pursue you for the other
3:06
Speaker 7: five percent.
3:07
Speaker 3: Wow, does that happen much?
3:09
Speaker 7: No, that's good.
3:13
Speaker 2: Yeah.
3:14
Speaker 7: Well yeah, when I said, it means we don't get
3:16
Speaker 7: paid twice.
3:17
Speaker 5: Yes, yes, yes, okay. So so it's the five percent
3:20
Speaker 5: or ten percent. So with those figures in mind, then
3:24
Speaker 5: to improve your chances, as Renee asked that question, can
3:28
Speaker 5: you put more down?
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Speaker 7: No, it makes no difference whatsoever because only ten percent
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Speaker 7: at risk. So let's just say you come to me
3:36
Speaker 7: with an offer and you go, oh, I've got a
3:37
Speaker 7: fifty percent deposit. It's like, good for you, we only
3:40
Speaker 7: need ten percent. If you pay me fifty percent, we'll
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Speaker 7: have to return you forty percent if it doesn't go through.
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Speaker 7: It makes no difference to the strength of the offer.
3:47
Speaker 7: What makes a big difference to the strength to the
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Speaker 7: offer is somebody that is proactive and follows the instructions
3:53
Speaker 7: when you make an offer, because a lot of people
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Speaker 7: hold off paint the deposit for a few days and
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Speaker 7: it takes another few days to and that can delay
4:01
Speaker 7: the exchange process, which means the property still remains in
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Speaker 7: the market and you could be consumped.
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Speaker 3: Okay, and literally, like in situations like that, a day
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Speaker 3: can make a big difference, can't.
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Speaker 7: It massive difference. We had one the other day and
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Speaker 7: she was a little bit slow in pain that it
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Speaker 7: posited another buyer came through and made a twenty thousand
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Speaker 7: dollars higher offer, which you know, we have to take
4:21
Speaker 7: to the seller, and so she then improved her offer
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Speaker 7: and yeah, that was a pretty costant mistake for it.
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Speaker 7: She got the property, but it cost her twenty one
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Speaker 7: thousand dollars extra.
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Speaker 4: Yeah.
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Speaker 5: Man, okay, so the size of all the amount of
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Speaker 5: the deposit, that doesn't worry. It's like you can come
4:32
Speaker 5: over the top with that big and you're not supposed
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Speaker 5: to do that.
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Speaker 4: Are you?
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Speaker 5: But it happens, right, But surely if you surely though,
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Speaker 5: if you roll up with a fifty percent deposit, that
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Speaker 5: just demonstrates to the vendor.
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Speaker 4: That that you do you mean business, well you want
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Speaker 4: the property right.
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Speaker 7: In some way. Yeah, but I guess it means that
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Speaker 7: they're like they're not relying on a ninety percent borrowing
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Speaker 7: from the bank or sometimes you can get ninety eight
5:00
Speaker 7: dissent boring from the bank at the moment, and so
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Speaker 7: it means that they're probably in a strong cash position,
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Speaker 7: so you're not going to be too worried about the
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Speaker 7: bank valuation coming in short or the finance not coming through.
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Speaker 7: So it's something that we consider, but it doesn't make
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Speaker 7: the offer stronger than person b.
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Speaker 3: Okay, that's good to know. And so what are one
5:18
Speaker 3: or two other ways, just quickly, how people can you
5:21
Speaker 3: improve their offer?
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Speaker 7: Good offers are made up of really three things. A
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Speaker 7: good price, you know, a five or ten percent deposit,
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Speaker 7: but you know, a provactive approach towards it, and terms
5:35
Speaker 7: that you feel suit the seller's situation. They might be
5:38
Speaker 7: selling because they're looking to upside, so they might require
5:40
Speaker 7: a long distillment and if you can back to that
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Speaker 7: in sometimes that's worth more than the actual sale price
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Speaker 7: to the sellers themselves.
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Speaker 3: Yes, one hundred percent matching and what they want to
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Speaker 3: do for settlement for sure. Well Steve, that's yeah, really
5:52
Speaker 3: interesting to learn from you this morning. Yeah, thank you
5:55
Speaker 3: so much.
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Speaker 7: That's all right, and don't worry like I will look
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Speaker 7: after the deposit and it's fully refined. Thank you. Exchange.
6:02
Speaker 3: Yes, good to know, Thank you, thanks so much, Steve Low,
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Speaker 3: who's a director at Agent Ty in Canberra. Then well,
6:09
Speaker 3: Cam domain's laterst House Price report came out through the
6:13
Speaker 3: week and it's got some pretty interesting findings, not just
6:15
Speaker 3: nationally but here in Canberra as well, and so as
6:18
Speaker 3: always we like to find out what does that mean
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Speaker 3: for us here in the nation's capital. And doctor Nicola
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Speaker 3: Powell is the head of Research and Economics at Domain.
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Speaker 3: She joins us Nicola, good morning, how are you.
6:28
Speaker 1: Good morning?
6:28
Speaker 2: I'm very well.
6:29
Speaker 3: That's good. Now, look tell us about this latest report
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Speaker 3: and what it says about the market broadly.
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Speaker 2: So what we have got is certainly a slowdown across
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Speaker 2: Australia's housing market, so that three years of uninterrupted growth
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Speaker 2: has now stopped and we have got prices declining and
6:44
Speaker 2: those declining of prices is really being led by Sydney,
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Speaker 2: Melbourne and also Canberra.
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Speaker 4: Okay, so that's what it looks like for Canbra.
6:51
Speaker 5: How does Canbra stack up against some of the other
6:54
Speaker 5: capital cities.
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Speaker 2: So Canberra saw a two point five percent decline in
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Speaker 2: house prices as well as unit prices, but when you
7:01
Speaker 2: look at that two and a half percent decline, it
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Speaker 2: was slightly less than what we were seeing in Sydney
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Speaker 2: and Melbourne. They're really leading the depths of decline. So
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Speaker 2: Sydney saw a three point three percent drop and Melbourne
7:12
Speaker 2: saw a three point one percent drop. But as you
7:14
Speaker 2: rightly said, there are other capital cities that they're still growing,
7:17
Speaker 2: most of them are not growing as fast as they
7:19
Speaker 2: once were. So think your Brisbane, think your Purse. But
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Speaker 2: the one market that did buck that trend was Adelaide,
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Speaker 2: you know, this quiet achiever that just continues to grow.
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Speaker 2: Adelaide saw a four point eight percent increase in house
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Speaker 2: prices in June, and that's an acceleration of growth.
7:34
Speaker 3: And so house in unit prices going down here in Canberra.
7:37
Speaker 3: What do you think of the main contributing factors there?
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Speaker 2: Yeah, so I think in camber Ian Canberra has really
7:44
Speaker 2: seen modest growth anyway, even when it was growing. Compared
7:47
Speaker 2: to the other capital cities, choice is much better, so
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Speaker 2: buyers do have more choice in Camera relative to what
7:53
Speaker 2: we've seen in other capital cities. I think as well,
7:56
Speaker 2: Canberra is sensitive to changes in the cacheert and we've
7:59
Speaker 2: seen rate hikes this year. I think we've all felt
8:03
Speaker 2: the pain of those rate hikes. I think we consumer
8:05
Speaker 2: confidence as well feeds into this and also pressures from
8:08
Speaker 2: cost of living. I think it's all factors into housing.
8:11
Speaker 2: And then obviously we can't disregard the fact that we
8:14
Speaker 2: have seen changes in the budget which means our property
8:17
Speaker 2: investments are taxed have changed and ultimately that has made
8:22
Speaker 2: investors extraordinarily nervous and they are just sitting on the
8:25
Speaker 2: sidelines now.
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Speaker 7: I think many of them have just tapped out.
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Speaker 5: Yeah, and just waiting to see how this is going
8:30
Speaker 5: to play out now, Nicola, I always ask you this
8:34
Speaker 5: every time you're good enough to join us. You're a
8:37
Speaker 5: numbers person, you're a data scientist, you collate the numbers,
8:40
Speaker 5: you crunch them together. What's the one thing that popped
8:44
Speaker 5: out for you in this reporters Friz acting the numbers
8:46
Speaker 5: are concerned.
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Speaker 2: It was almost like textbook really in terms of this
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Speaker 2: is what we normally see when Canberra in particular goes
8:54
Speaker 2: into a downturn, and when we see prices fall is
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Speaker 2: led by the more premium end of Canberra's housing market.
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Speaker 2: In that is exactly what we are seeing when you
9:03
Speaker 2: drill down into those different areas of Canberra. In a
9:07
Speaker 2: South saw the biggest quarterly decline in house price is
9:11
Speaker 2: six point three percent shade from its median house price.
9:14
Speaker 2: Then it was Woden Valley a two point two percent
9:17
Speaker 2: decline and even house prices in a North almost a
9:21
Speaker 2: two percent decline. So it's this concept that the upper
9:24
Speaker 2: end is leading and this is traditionally what we normally
9:28
Speaker 2: see when a downturn unravels across Canberra.
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Speaker 3: Okay, well, Nicola, thank you so much for breaking all
9:32
Speaker 3: that down for us. We love to chat to you
9:34
Speaker 3: and figure out what all that means with Canberra and
9:36
Speaker 3: have a great weekend. Thank you. Now, can we spoke
9:40
Speaker 3: to our next guest recently about selling an investment property
9:43
Speaker 3: with tenants in place. I've got friends who are going
9:46
Speaker 3: through this at the moment. It's a tricky situation to
9:48
Speaker 3: navigate and I feel like, you know, with lots of
9:51
Speaker 3: things that are happening in the world, there'll be you know,
9:53
Speaker 3: more and more people who are selling their investment properties
9:55
Speaker 3: and we'll find themselves in this situation if they haven't already.
9:59
Speaker 3: And so we want to to extend on that conversation
10:01
Speaker 3: in the Real Estate Show today. And Hannah gill is
10:04
Speaker 3: director at Podium Property Management and REACT board member.
10:07
Speaker 8: Hannah good morning, Good morning guys, thanks having me back
10:10
Speaker 8: on the show.
10:11
Speaker 3: Yeah, thanks for coming back on. Look, it is a
10:13
Speaker 3: tricky situation, isn't it, And like I said, one, then
10:15
Speaker 3: I think lots of people are in at the moment,
10:18
Speaker 3: or if not, we'll find themselves in, you know, over
10:20
Speaker 3: the coming months. What are some of the things you
10:22
Speaker 3: can do to sort of manage that tricky situation.
10:26
Speaker 8: Yeah, definitely, it is a tricky situation. But I think
10:28
Speaker 8: the best way to manage it is probably just applying
10:30
Speaker 8: a bit of common sense to the process. You know,
10:32
Speaker 8: if you want the best outcome, the agent needs to
10:34
Speaker 8: be respectful and consider it at the tenants with things
10:37
Speaker 8: like open home frequency and scheduling like don't schedule an
10:39
Speaker 8: evening open home if you've got little kids, for example.
10:43
Speaker 8: But also a tenant can actually make it quite difficult
10:45
Speaker 8: to get access and typically that will stem off the
10:47
Speaker 8: back of an agent who is being inconsiderate or unorganized.
10:50
Speaker 8: And so the best way to get around it is
10:52
Speaker 8: to be respectful of one another. And I'd encourage both
10:55
Speaker 8: parties took themselves in each other's shoes.
10:57
Speaker 3: Yes, one hundred percent, And that that's a general sort
10:59
Speaker 3: of life rule that lots of people could apply everything
11:05
Speaker 3: kind of Look, do you think in situations like this,
11:08
Speaker 3: it could pay, and it won't be possible for everyone,
11:11
Speaker 3: but it could pay, you know, to give the tenant
11:13
Speaker 3: whatever notice is required based on where you live, and
11:16
Speaker 3: then try and do the open homes and everything once
11:20
Speaker 3: they're out of there to save everyone the hassle. Again,
11:22
Speaker 3: I know that's tricky because then you don't have the
11:24
Speaker 3: rent covering the mortgage and things like that. But is
11:26
Speaker 3: that a better option?
11:27
Speaker 8: Well, definitely, when the property is vacant and styled, it
11:30
Speaker 8: is easy to sell because the agent has free range two.
11:32
Speaker 8: The property styling obviously makes it look amazing. But equally,
11:36
Speaker 8: there are investors still in the market looking at buy
11:38
Speaker 8: and they want the security of you know, the same
11:40
Speaker 8: thing as the outgoing investor. They want the security of
11:42
Speaker 8: rent from day one and having a stable tenant in place.
11:45
Speaker 8: So there's pros and cons to both scenarios.
11:47
Speaker 3: Yeah, of course. And what are some of the things
11:48
Speaker 3: that you should avoid doing in this situation?
11:52
Speaker 8: I think just sort of lumping multiple requests for access
11:55
Speaker 8: on tenants is pretty unfair. Yeah, being considered times a
11:59
Speaker 8: day and when might suit them, So working with them
12:01
Speaker 8: early on and establishing what makes sense to both parties
12:04
Speaker 8: and then just stop holding that and keeping communication really open.
12:07
Speaker 5: And so if you're selling a place, where's the best
12:09
Speaker 5: place to get the information about what you can and
12:11
Speaker 5: can't do?
12:13
Speaker 3: Well?
12:13
Speaker 8: Really you should be able to get back from your
12:14
Speaker 8: sales agent or your property manager. But if you feel
12:17
Speaker 8: like you're not getting the information you need access Canberra
12:19
Speaker 8: does have some general information and a support line you
12:21
Speaker 8: can call as well.
12:23
Speaker 3: Okay. And so if you're renting a place and this
12:25
Speaker 3: is happening to you, you know, if you've got the
12:27
Speaker 3: landlord calling you saying, oh guys, get out, we've got
12:30
Speaker 3: an open happening at five o'clock this afternoon or something
12:33
Speaker 3: like that, where can people go to get support in
12:36
Speaker 3: that space?
12:37
Speaker 8: Yeah, the Tendants is a free advice line in Canberra
12:40
Speaker 8: and that's the Tenancy Advice Service which is run by
12:42
Speaker 8: Legal Aid. So that's a great resource for tendants to
12:45
Speaker 8: call and get some advice from.
12:46
Speaker 5: Okay, And so Renee mentioned that you know this does happen,
12:50
Speaker 5: and you have been in and around property management for
12:53
Speaker 5: a long long time now when these sorts of situations arise,
12:57
Speaker 5: do do you quiver just a little bit.
12:59
Speaker 4: Or do you go right?
13:00
Speaker 5: Because we know and we spoke about this recently as
13:02
Speaker 5: well about the amazing sort of skills that property managers
13:06
Speaker 5: have and solving problems is essentially what you do.
13:10
Speaker 4: Do you quiver or do you go right, here's another
13:12
Speaker 4: one that I'm going to solve.
13:13
Speaker 5: I'm going to do this, this, this, and this, and
13:15
Speaker 5: just break it down methodically. It's a process and just
13:17
Speaker 5: get it done.
13:19
Speaker 2: Look at this process.
13:20
Speaker 8: But I think at the end of the day, regardless
13:22
Speaker 8: of a process, we have to remember we're dealing with people,
13:24
Speaker 8: and we're dealing with people in their homes. So regardless
13:26
Speaker 8: of how structured a process might be or how smooth
13:29
Speaker 8: sailing it might be, there's still that emotional aspect to it,
13:32
Speaker 8: and so I think it's just remembering that first and
13:34
Speaker 8: foremost and just trying to be human, being kind about
13:36
Speaker 8: that whole process.
13:37
Speaker 3: Yeah, totally. So it's property manager aka problem solver aka
13:41
Speaker 3: counselor you know, more like the amount of roles you
13:44
Speaker 3: guys have to take on is crazy.
13:47
Speaker 4: Aka manager of kindness.
13:49
Speaker 3: Yes, absolutely, manager of kindness and consideration. Hannah, Well, it
13:53
Speaker 3: was great that we could, you know, dig down a
13:55
Speaker 3: deep bit deeper on that conversation with you today, So
13:58
Speaker 3: thanks so much for joining us.
13:59
Speaker 2: Thank you cheers.
14:00
Speaker 3: Hannah gil who's director at Podium Property Management and REACT
14:04
Speaker 3: board member as well well.
14:05
Speaker 5: Those are the interviews we most enjoyed in last week's
14:08
Speaker 5: Mix one O six point three real Estate Show. If
14:11
Speaker 5: you love hearing about the latest trends, or you're just
14:13
Speaker 5: up for a sticky beak, be sure to drop by
14:15
Speaker 5: for a listen this Saturday between nine and ten Cam
14:19
Speaker 5: and Rene's
14:19
Speaker 1: Real Estate Show on Mix one O six point three