Welcome to this week’s 2-Sense on The Australian Property Podcast, where the team takes a look into the top 3 property news stories and breaks down what this means for you and your property.
Buyer’s Agent Pete Wargent and Mortgage Broker Chris Bates
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are discussing the regional market, underuse of dwellings & lending buffers in this week’s episode.
This week’s stories:
Story 1 – Regional Markets Under Pressure
- Migration patterns are now normalising post COVID
- Capital city prices up 1% in August, closing in on previous highs, but some regional markets are under pressure and are now seeing price declines
- CoreLogic’s latest regional market analysis shows interest rates are impacting regional Australia more than in the big cities
- On the plus side inflation figures did ease – and building costs and building approvals are slowing
- Pre-retirees selling homes to fund retirement
Story 2 – 1.3% of dwellings unused
- Only 1.3% of dwellings appear to be unused according to electricity use
- It’s a lot different from the 10% talked about on Census night when people are often travelling or overseas
- What does this mean for holiday homes and Airbnb? Some Airbnb properties are doing 10% yields
- How is this impacting rental markets? Thoughts on regulations and whether they are a good investment?
Story 3 – Lending buffers – non-banks pushing the envelope
- Pepper is now using a 1% buffer for some investors
- Is 3% too tight?
- Shayne Elliott of ANZ says the settings are wrong
- Peter Tulip also says it’s paternalistic and unnecessary
- What happens next and when? What do we think will happen with interest rates and borrowing capacity in the future?
- What we think could occur for first home buyers who want to enter the market
