Do first home buyer incentives actually help make housing more affordable, or do they unintentionally worsen affordability issues?

As the debate surrounding first home buyer incentives continues, we seek to understand their true effect on property prices and overall housing affordability. Governmental interventions, such as lending to first home buyers, raise questions about the source of funding and who ultimately benefits from these policies.

Today, we are joined by property valuer, Will Phillips — whose extensive research and expertise in property valuation brings valuable insights into how first home buyer incentives are affecting the housing market.

Tune in to this episode as we explore the complexities of first home buyer incentives and gain a deeper understanding of how these policies are affecting housing affordability and the broader socio-economic landscape.

Episode Highlights:

00:00 - Introduction

01:04 - Who is Will Philips?

03:25 - Why does Perth exhibit higher rates of homeownership in contrast to other areas?

09:34 - How Will separated macro-environmental factors from incentives in his research

14:24 - Do Perth residents benefit from simplified housing access?

16:46 - What's the impact of keystart loans on suburban financial trends?

19:39 - Do incentives create imbalance between new and established markets?

22:17 - What challenges do homeowners in suburbs face amid recent price changes?

26:45 - Examining the correlation between mortgage rates and long-term unemployment

30:44 - Additional questions arising in the discussion about homeownership and employment

37:20 - What's Will's take on Perth's investor appeal amid changing market factors

39:54 - Will's philosophy on assessing risk and return in property investment

42:48 - How does owner-occupier appeal differ between Perth and Southeast Queensland?

47:01 - Exploring the relationship between market dynamics and build quality

49:05 - Will Phillips’ property dumbo

About Our Guest:

Will Phillips is a property valuer with a 15-year career spanning Australia's diverse landscape. Beginning in South-East Queensland, he assessed properties in urban and remote areas before gaining unique insights in Outback NSW, Outback QLD, Coastal QLD, and Western Australia. Coupled with a Master of Economics (2023), Will dedicated his "spare time" to a 20,000-word dissertation investigating the impact of the mining industry, first home buyer grants and low deposit home loans on Western Australia's property market over the past 20 years. His extensive experience equips him with unparalleled insights into regional dynamics and market cycles across Australia.

Connect with Will Phillips:
LinkedIn https://www.linkedin.com/in/will-phillips-cbre/

Resources:
Visit our website https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast questions@theelephantintheroom.com.au
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? https://www.blusk.au
Work with Chris: hello@blusk.au

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

Do first home buyer incentives actually help make housing more affordable, or do they unintentionally worsen affordability issues?
As the debate surrounding first home buyer incentives continues, we seek to understand their true effect on property prices and overall housing affordability. Governmental interventions, such as lending to first home buyers, raise questions about the source of funding and who ultimately benefits from these policies.
Today, we are joined by property valuer, Will Phillips — whose extensive research and expertise in property valuation brings valuable insights into how first home buyer incentives are affecting the housing market.
Tune in to this episode as we explore the complexities of first home buyer incentives and gain a deeper understanding of how these policies are affecting housing affordability and the broader socio-economic landscape.
Episode Highlights:
00:00 - Introduction
01:04 - Who is Will Philips?
03:25 - Why does Perth exhibit higher rates of homeownership in contrast to other areas?
09:34 - How Will separated macro-environmental factors from incentives in his research
14:24 - Do Perth residents benefit from simplified housing access?
16:46 - What's the impact of keystart loans on suburban financial trends?
19:39 - Do incentives create imbalance between new and established markets?
22:17 - What challenges do homeowners in suburbs face amid recent price changes?
26:45 - Examining the correlation between mortgage rates and long-term unemployment
30:44 - Additional questions arising in the discussion about homeownership and employment
37:20 - What's Will's take on Perth's investor appeal amid changing market factors
39:54 - Will's philosophy on assessing risk and return in property investment
42:48 - How does owner-occupier appeal differ between Perth and Southeast Queensland?
47:01 - Exploring the relationship between market dynamics and build quality
49:05 - Will Phillips’ property dumbo
About Our Guest:
Will Phillips is a property valuer with a 15-year career spanning Australia's diverse landscape. Beginning in South-East Queensland, he assessed properties in urban and remote areas before gaining unique insights in Outback NSW, Outback QLD, Coastal QLD, and Western Australia. Coupled with a Master of Economics (2023), Will dedicated his "spare time" to a 20,000-word dissertation investigating the impact of the mining industry, first home buyer grants and low deposit home loans on Western Australia's property market over the past 20 years. His extensive experience equips him with unparalleled insights into regional dynamics and market cycles across Australia.
Connect with Will Phillips:
<ul>
<li aria-level="1">LinkedIn <a href="https://www.linkedin.com/in/will-phillips-cbre/">https://www.linkedin.com/in/will-phillips-cbre/</a></li>
</ul>
Resources:
<ul>
<li aria-level="1">Visit our website <a href="https://www.theelephantintheroom.com.au">https://www.theelephantintheroom.com.au</a></li>
<li aria-level="1">If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a></li>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au/">https://www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="http://www.veronicamorgan.com.au">https://www.veronicamorgan.com.au</a></li>
<li aria-level="1">Looking for a Mortgage Broker? <a href="http://www.blusk.au">https://www.blusk.au</a></li>
<li aria-level="1">Work with Chris: <a href="mailto:hello@blusk.au">hello@blusk.au</a></li>
</ul>
Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
<ul>
<li aria-level="1">Subscribe on YouTube: <a href="https://www.youtube.com/@theelephantintheroom-podcast">https://www.youtube.com/@theelephantintheroom-podcast</a></li>
<li aria-level="1">Subscribe on Apple Podcasts: <a href="https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719">https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719</a></li>
<li aria-level="1">Subscribe on Spotify: <a href="https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765">https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765</a></li>
</ul>

Who's really in control when you buy a property?

The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.  

Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.

Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.

In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.

The plan? This property podcast has been created to help us all make better property decisions!

We talk about the things no one wants to talk about in the Property Market

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