The housing affordability crisis in Australia is putting immense pressure not only on home buyers and owner-occupiers but now on renters as well...

Is the solution to Australia's property woes really just to build build build?

In this episode, Chris Leishman, professor of Property and Housing Economics, joins us to talk about the current housing and rent affordability crisis… How should our policymakers address this worsening issue in the housing market?

We also discuss the state of declining economic productivity, possible policies and plans for social and public housing, and what millennials think of owning housing assets.

If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au!

See you in the episode!



Episode Highlights:
The worsening rental affordability crisis [02:37]
The future of working from home [06:46]
How to model housing need [11:50]
Is the supply shortage the main problem behind the affordability crisis? [14:08]
The practicality of implementing the vacancy tax [21:24]
Will a reverse mortgage be helpful? [23:55]
The dispensability of properties in Australia [27:05]
The state of Australian productivity [31:24]
How to move forward with public housing [38:45]
Long-term solutions for the housing crisis [43:23]
Will higher interest rates slow down inflation? [52:22]
Chris’ property Dumbo [56:02]



About our Guest:

Chris Leishman is a professor of Property and Housing Economics at the University of South Australia. He is also a non-executive director of Housing Choices Australia – a not for profit community housing provider active in South Australia, Western Australia, Victoria, New South Wales and Tasmania. 



Links from the show:
Chris Leishman https://people.unisa.edu.au/christian.leishman#Outputs
Housing Choices https://www.housingchoices.org.au/about-us/



Connect with Us:
Looking for a Sydney Buyers Agent? www.gooddeeds.com.au
Work with Veronica: https://linktr.ee/veronicamorgan
Looking for a Mortgage Broker? www.wealthful.com.au
Work with Chris: hello@wealthful.com.au
Send in your questions to: questions@theelephantintheroom.com.au



Find this episode on our website:

https://www.theelephantintheroom.com.au/podcasts/248



If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!

The housing affordability crisis in Australia is putting immense pressure not only on home buyers and owner-occupiers but now on renters as well...
Is the solution to Australia's property woes really just to build build build?
In this episode, Chris Leishman, professor of Property and Housing Economics, joins us to talk about the current housing and rent affordability crisis… How should our policymakers address this worsening issue in the housing market?
We also discuss the state of declining economic productivity, possible policies and plans for social and public housing, and what millennials think of owning housing assets.
If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au!
See you in the episode!
 
Episode Highlights:
<ol>
<li aria-level="1">The worsening rental affordability crisis [02:37]</li>
<li aria-level="1">The future of working from home [06:46]</li>
<li aria-level="1">How to model housing need [11:50]</li>
<li aria-level="1">Is the supply shortage the main problem behind the affordability crisis? [14:08]</li>
<li aria-level="1">The practicality of implementing the vacancy tax [21:24]</li>
<li aria-level="1">Will a reverse mortgage be helpful? [23:55]</li>
<li aria-level="1">The dispensability of properties in Australia [27:05]</li>
<li aria-level="1">The state of Australian productivity [31:24]</li>
<li aria-level="1">How to move forward with public housing [38:45]</li>
<li aria-level="1">Long-term solutions for the housing crisis [43:23]</li>
<li aria-level="1">Will higher interest rates slow down inflation? [52:22]</li>
<li aria-level="1">Chris’ property Dumbo [56:02]</li>
</ol>
 
About our Guest:
Chris Leishman is a professor of Property and Housing Economics at the University of South Australia. He is also a non-executive director of Housing Choices Australia – a not for profit community housing provider active in South Australia, Western Australia, Victoria, New South Wales and Tasmania. 
 
Links from the show:
<ul>
<li aria-level="1">Chris Leishman <a href="https://people.unisa.edu.au/christian.leishman#Outputs">https://people.unisa.edu.au/christian.leishman#Outputs</a><a href="https://people.unisa.edu.au/christian.leishman#Outputs"></a></li>
<li aria-level="1">Housing Choices <a href="https://www.housingchoices.org.au/about-us/">https://www.housingchoices.org.au/about-us/</a><a href="https://www.housingchoices.org.au/about-us/"></a></li>
</ul>
 
Connect with Us:
<ul>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au/">www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="https://linktr.ee/veronicamorgan">https://linktr.ee/veronicamorgan</a></li>
<li aria-level="1">Looking for a Mortgage Broker? <a href="https://www.wealthful.com.au/">www.wealthful.com.au</a></li>
<li aria-level="1">Work with Chris: <a href="mailto:hello@wealthful.com.au">hello@wealthful.com.au</a> </li>
<li aria-level="1">Send in your questions to: <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a> </li>
</ul>
 
Find this episode on our website:
<a href="https://www.theelephantintheroom.com.au/podcasts/248">https://www.theelephantintheroom.com.au/podcasts/248</a>
 
If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!

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

The Elephant In The Room Property Podcast | Inside Australian Real Estate

Is Supply the Answer to Australia's Property Woes? | Chris Leishman, Professor of Property and Housing Economics

What is driving the relentless rise in Australia's property prices, and how are homeowners managing as the fixed mortgage rates from the COVID era expire? These are important questions as we deal with rising inflation and increasing living costs, so in this episode, we tackle these issues to see how they're affecting both the housing market and potential buyers.

Joining us to break down these complex topics is Carlos Cacho, Chief Economist at Jarden Australia. Carlos has a deep understanding of Australian economics, especially banking and housing markets, thanks to his previous roles at UBS Australia and Colonial First State Global Asset Management. He holds a Bachelor of Economics and a First Class Honours in Economics from the University of New South Wales, making him a highly credible voice on these matters.

Make sure to tune into this episode for a thorough analysis of the current economic pressures on Australia's property market and what they could mean for the future. Equip yourself with the insights needed to better understand these challenging economic times.

Episode Highlights:

00:00 - Introduction

01:08 - Who is Carlos Cacho?

01:30 - What led Carlos to oppose the common view on reducing serviceability buffers?

06:20 - Does lowering the serviceability buffer improve affordability or just increase prices?

08:48 - Will increasing urban density in Sydney truly improve housing affordability?

12:40 - What factors contribute to continued property price increases in most cities?

18:35 - Key differences in the apartment and house markets in major cities

20:36 - Do seasonal trends affect real estate listings?

26:43 - Will higher interest rates persist longer than anticipated?

32:05 - Could we see a return to the economic conditions similar to those before 2022?

36:27 - Is climate change becoming a big driver for investment around the world?

38:44 - The impact of high interest rates on economic stability over the next decade

44:15 - What are the anticipated migration trends for the upcoming years?

50:38 - Are we meeting our labor demands through skills migration?

52:05 - Carlos Cacho’s property dumbo

About Our Guest:

Carlos Cacho is Chief Economist and leads Australian bank research at Jarden in Australia. Carlos’ research covers all things Australian Economics and Banks, with the strong focus on the housing market. Prior to joining Jarden, Carlos spent three years as Australian Economist at UBS Australia, and previously five years at Colonial First State Global Asset Management. Carlos holds a Bachelor of Economics, as well as a First Class Honours in Economics from the University of New South Wales. 

Connect with Carlos Cacho:
LinkedIn https://www.linkedin.com/in/carlosscacho/
Website https://www.jardengroup.com.au/

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

What is driving the relentless rise in Australia's property prices, and how are homeowners managing as the fixed mortgage rates from the COVID era expire? These are important questions as we deal with rising inflation and increasing living costs, so in this episode, we tackle these issues to see how they're affecting both the housing market and potential buyers.
Joining us to break down these complex topics is Carlos Cacho, Chief Economist at Jarden Australia. Carlos has a deep understanding of Australian economics, especially banking and housing markets, thanks to his previous roles at UBS Australia and Colonial First State Global Asset Management. He holds a Bachelor of Economics and a First Class Honours in Economics from the University of New South Wales, making him a highly credible voice on these matters.
Make sure to tune into this episode for a thorough analysis of the current economic pressures on Australia's property market and what they could mean for the future. Equip yourself with the insights needed to better understand these challenging economic times.
Episode Highlights:
00:00 - Introduction
01:08 - Who is Carlos Cacho?
01:30 - What led Carlos to oppose the common view on reducing serviceability buffers?
06:20 - Does lowering the serviceability buffer improve affordability or just increase prices?
08:48 - Will increasing urban density in Sydney truly improve housing affordability?
12:40 - What factors contribute to continued property price increases in most cities?
18:35 - Key differences in the apartment and house markets in major cities
20:36 - Do seasonal trends affect real estate listings?
26:43 - Will higher interest rates persist longer than anticipated?
32:05 - Could we see a return to the economic conditions similar to those before 2022?
36:27 - Is climate change becoming a big driver for investment around the world?
38:44 - The impact of high interest rates on economic stability over the next decade
44:15 - What are the anticipated migration trends for the upcoming years?
50:38 - Are we meeting our labor demands through skills migration?
52:05 - Carlos Cacho’s property dumbo
About Our Guest:
Carlos Cacho is Chief Economist and leads Australian bank research at Jarden in Australia. Carlos’ research covers all things Australian Economics and Banks, with the strong focus on the housing market. Prior to joining Jarden, Carlos spent three years as Australian Economist at UBS Australia, and previously five years at Colonial First State Global Asset Management. Carlos holds a Bachelor of Economics, as well as a First Class Honours in Economics from the University of New South Wales. 
Connect with Carlos Cacho:
<ul>
<li aria-level="1">LinkedIn <a href="https://www.linkedin.com/in/carlosscacho/">https://www.linkedin.com/in/carlosscacho/</a></li>
<li aria-level="1">Website <a href="https://www.jardengroup.com.au/">https://www.jardengroup.com.au/</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>

What Economic Tensions Are Impacting Australia’s Property Market?

Ever wondered why people end up spending more than they planned at auctions? What about the missed opportunities for vendors due to ineffective auctioning practices? These common pitfalls not only impact individual transactions but also shape the broader dynamics of the auction process.

In this episode, we're joined by award-winning auctioneer Andy Reid to understand why these problems happen at auctions and how to solve them. We explore why people get caught up in bidding wars and what sellers can do to get better results, then break down the tricks of the trade and give you practical tips to do auctions smarter.

Tune in to gain a competitive edge in the fast-paced world of property auctions and learn how to avoid the common mistakes that can cost you money. Join us for a chat that could change the way you approach auctions.

Episode Highlights:

00:00 - Introduction

01:04 - Who is Andy Reid?

02:14 - Is it true that the buyer with the deepest pockets always wins the auction?

06:30 - Examples of auctions benefiting buyers more than sellers

09:51 - How does an auctioneer provide value with limited preparation time?

11:20 - What insights does an auctioneer gain from reviewing auction contracts?

17:27 - What briefing can buyers expect from agents before auctions?

22:45 - Auctioneer strategies in balancing silence and pace in auctions

25:46 - Why buyers should research the auctioneer before attending an auction

30:20 - Stories of shocking auctioneer mistakes

34:25 - Understanding vendor bids: their purpose and usage by auctioneers

39:44 - The legislative aspect of negotiating at the reserve price in Victoria

47:37 - Passing in a property at auction

50:19 - Declaring a property "on the market" during an auction

55:28 - Andy Reid’s property dumbo

57:43 - Final advice for auction bidders and one major mistake to steer clear of

About Our Guest:

Andy Reid is an award-winning sales coach and top auctioneer in Real Estate known for his emphasis on emotional intelligence and mental health advocacy. Recognized as the Australian Auctioneer of The Year in 2022, Andy owns a thriving auctioneering business serving over 130 agents/agencies in Metro Melbourne. With a 'human first, agent second' approach, he has helped thousands of homeowners navigate Real Estate transactions. Andy's commitment to community extends to raising over $3 million for charities since 2015, making a difference through public speaking, auctioneering, and networking. As an ambassador for mental health charity '100 Words - Mate To Mate,' Andy promotes professional success while highlighting the importance of emotional and intellectual intelligence.

Connect with Andy Reid:
Website https://andyreid.com.au/
LinkedIn https://www.linkedin.com/in/andyreidcoaching/
Instagram https://www.instagram.com/andyreidcoaching/
Facebook https://www.facebook.com/andyreidcoaching

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

Ever wondered why people end up spending more than they planned at auctions? What about the missed opportunities for vendors due to ineffective auctioning practices? These common pitfalls not only impact individual transactions but also shape the broader dynamics of the auction process.
In this episode, we're joined by award-winning auctioneer Andy Reid to understand why these problems happen at auctions and how to solve them. We explore why people get caught up in bidding wars and what sellers can do to get better results, then break down the tricks of the trade and give you practical tips to do auctions smarter.
Tune in to gain a competitive edge in the fast-paced world of property auctions and learn how to avoid the common mistakes that can cost you money. Join us for a chat that could change the way you approach auctions.
Episode Highlights:
00:00 - Introduction
01:04 - Who is Andy Reid?
02:14 - Is it true that the buyer with the deepest pockets always wins the auction?
06:30 - Examples of auctions benefiting buyers more than sellers
09:51 - How does an auctioneer provide value with limited preparation time?
11:20 - What insights does an auctioneer gain from reviewing auction contracts?
17:27 - What briefing can buyers expect from agents before auctions?
22:45 - Auctioneer strategies in balancing silence and pace in auctions
25:46 - Why buyers should research the auctioneer before attending an auction
30:20 - Stories of shocking auctioneer mistakes
34:25 - Understanding vendor bids: their purpose and usage by auctioneers
39:44 - The legislative aspect of negotiating at the reserve price in Victoria
47:37 - Passing in a property at auction
50:19 - Declaring a property "on the market" during an auction
55:28 - Andy Reid’s property dumbo
57:43 - Final advice for auction bidders and one major mistake to steer clear of
About Our Guest:
Andy Reid is an award-winning sales coach and top auctioneer in Real Estate known for his emphasis on emotional intelligence and mental health advocacy. Recognized as the Australian Auctioneer of The Year in 2022, Andy owns a thriving auctioneering business serving over 130 agents/agencies in Metro Melbourne. With a 'human first, agent second' approach, he has helped thousands of homeowners navigate Real Estate transactions. Andy's commitment to community extends to raising over $3 million for charities since 2015, making a difference through public speaking, auctioneering, and networking. As an ambassador for mental health charity '100 Words - Mate To Mate,' Andy promotes professional success while highlighting the importance of emotional and intellectual intelligence.
Connect with Andy Reid:
<ul>
<li aria-level="1">Website <a href="https://andyreid.com.au/">https://andyreid.com.au/</a></li>
<li aria-level="1">LinkedIn <a href="https://www.linkedin.com/in/andyreidcoaching/">https://www.linkedin.com/in/andyreidcoaching/</a></li>
<li aria-level="1">Instagram <a href="https://www.instagram.com/andyreidcoaching/">https://www.instagram.com/andyreidcoaching/</a></li>
<li aria-level="1">Facebook <a href="https://www.facebook.com/andyreidcoaching">https://www.facebook.com/andyreidcoaching</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>

Auctions: Common Mistakes Made by Buyers, Vendors & Auctioneers

Depending on a potentially biased strata report could lead to problems later on, like unexpected costs or hidden issues with the property.  Without clarity on what might be omitted or misrepresented in these reports, buyers risk making decisions based on incomplete or biased information, therefore jeopardising their investment.

Today, we are joined by Michael Ferrier, the founder and MD of EYEON Property Inspections — who has been in the property business for more than 15 years now. With a decade and a half dedicated to perfecting property inspections, Michael's here to help us decipher the characteristics of a reliable report and whether or not it's smart to trust them from the seller's side.

Michael explains what needs to be seen in these reports and how they can help you decide if you want to buy a place. He talks about looking for missing info and warning signs that could mean trouble later on.

So, if you're thinking about buying a place—whether it's your first time or not—this episode is for you. Tune in as we break down strata reports and learn how to make smarter choices when it comes to buying property.

Episode Highlights:

00:00 - Introduction

01:03 - Who is Michael Ferrier?

01:57 - Thoughts on the issues surrounding strata companies about potential misconduct

04:50 - Strata managers’ fees haven’t gone up in 15 years

07:27 - Do undisclosed commissions have an impact on strata reporting?

13:15 - Statutory regulations regarding strata management in NSW

14:35 - Who writes a strata report? Do they need to be qualified?

17:06 - What do buyers typically do once they get a strata report?

21:48 - What does a strata report look like?

25:13 - Red flags you need to spot in a strata report

30:05 - Will properties with clear strata info soon fetch higher prices?

32:23 - Determining a good, moderate, average strata report

36:13 - Key factors to focus on when assessing insurance details in strata reports

39:07 - What are the consequences of owners' reliance on underpaid strata managers?

41:46 - How are strata managers handling maintenance issues in aging buildings?

47:26 - Insights on urban development and zoning regulations

49:09 - Michael Ferrier’s property dumbo

About Our Guest:

Michael Ferrier is the founder and MD of EYEON Property Inspections. Michael founded EYEON because he saw the opportunity to turn a cottage industry into a professional level service, offering high quality reports and outstanding customer support to property buyers and sellers. Michael has over 35 years of experience across government policy, financial services, banking, franchising, building small businesses, and, of course, property. A keen golfer and rugby nut, Michael says that finding solutions to common problems is very rewarding. The challenge is that solutions often require a change in behaviour.

Connect with Michael Ferrier:
Website: https://www.eyeon.com.au/
LinkedIn: https://www.linkedin.com/in/mferrier/

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

Depending on a potentially biased strata report could lead to problems later on, like unexpected costs or hidden issues with the property.  Without clarity on what might be omitted or misrepresented in these reports, buyers risk making decisions based on incomplete or biased information, therefore jeopardising their investment.
Today, we are joined by Michael Ferrier, the founder and MD of EYEON Property Inspections — who has been in the property business for more than 15 years now. With a decade and a half dedicated to perfecting property inspections, Michael's here to help us decipher the characteristics of a reliable report and whether or not it's smart to trust them from the seller's side.
Michael explains what needs to be seen in these reports and how they can help you decide if you want to buy a place. He talks about looking for missing info and warning signs that could mean trouble later on.
So, if you're thinking about buying a place—whether it's your first time or not—this episode is for you. Tune in as we break down strata reports and learn how to make smarter choices when it comes to buying property.
Episode Highlights:
00:00 - Introduction
01:03 - Who is Michael Ferrier?
01:57 - Thoughts on the issues surrounding strata companies about potential misconduct
04:50 - Strata managers’ fees haven’t gone up in 15 years
07:27 - Do undisclosed commissions have an impact on strata reporting?
13:15 - Statutory regulations regarding strata management in NSW
14:35 - Who writes a strata report? Do they need to be qualified?
17:06 - What do buyers typically do once they get a strata report?
21:48 - What does a strata report look like?
25:13 - Red flags you need to spot in a strata report
30:05 - Will properties with clear strata info soon fetch higher prices?
32:23 - Determining a good, moderate, average strata report
36:13 - Key factors to focus on when assessing insurance details in strata reports
39:07 - What are the consequences of owners' reliance on underpaid strata managers?
41:46 - How are strata managers handling maintenance issues in aging buildings?
47:26 - Insights on urban development and zoning regulations
49:09 - Michael Ferrier’s property dumbo
About Our Guest:
Michael Ferrier is the founder and MD of EYEON Property Inspections. Michael founded EYEON because he saw the opportunity to turn a cottage industry into a professional level service, offering high quality reports and outstanding customer support to property buyers and sellers. Michael has over 35 years of experience across government policy, financial services, banking, franchising, building small businesses, and, of course, property. A keen golfer and rugby nut, Michael says that finding solutions to common problems is very rewarding. The challenge is that solutions often require a change in behaviour.
Connect with Michael Ferrier:
<ul>
<li aria-level="1">Website: <a href="https://www.eyeon.com.au/">https://www.eyeon.com.au/</a></li>
<li aria-level="1">LinkedIn: <a href="https://www.linkedin.com/in/mferrier/">https://www.linkedin.com/in/mferrier/</a></li>
</ul>
Resources:
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<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:</li>
<ul>
<li aria-level="2">The Elephant in the Room Property Podcast - <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a></li>
</ul>
<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>
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Is Supply the Answer to Australia's Property Woes? | Chris Leishman, Professor of Property and Housing Economics

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The Elephant In The Room Property Podcast | Inside Australian Real Estate

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