In this insightful episode Veronica Morgan and Chris Bates chat with Dr. Nicole Johnston, socio-legal researcher and senior lecturer at Deakin University. Nicole has spearheaded the development industry, shining the spotlight on defective developments in her university published report “An Examination of Building Defects in Residential Multi-owned Properties”. The report highlights the severity of the development industry, analysing 3227 defects across 212 buildings in NSW, Victoria and Queensland.

In today’s episode our hosts discuss the problems plaguing the development industry and how they can redeem themselves in the coming years when truth surrounding their dodgy dealings spills.

Here’s what we covered:


The risks of buying brand new.


Why NSW is the riskiest state to buy a new apartment.


Why is there very little research on new buildings?


What happens to tenants with defects and the red tape involved?


Water related defects are the most costly and common defect.


Why does home and contents insurance not protect you from defects?


Why you should always invest more into a specialised property lawyer


How do we make quality builds and also solve the housing affordability crisis


Will developers make the first stand and take ownership for defects?


Rectification costs never capitalised when you go to sell.


Cheap apartment = Costly endeavour.

MENTIONED EPISODES:Episode 87 | Kerry HuntEpisode 91 | Rod FehringEpisode 106 |  Dodgy Developers

GUEST LINKS:Deakin University: Nicole JohnstonDeakin University: Home Research HubHome Buyer Academy

HOST LINKS: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: info@gooddeeds.com.au 

Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au

Buy the book - AUCTION READY How to buy property at auction even though you’re scared s#!tless: www.getauctionready.com.au Use the coupon ELEPHANT for your 30% listener discount.

EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness… This episode was recorded on 26 February, 2020.

https://www.theelephantintheroom.com.au/podcasts/112

In this insightful episode Veronica Morgan and Chris Bates chat with Dr. Nicole Johnston, socio-legal researcher and senior lecturer at Deakin University. Nicole has spearheaded the development industry, shining the spotlight on defective developments in her university published report “An Examination of Building Defects in Residential Multi-owned Properties”. The report highlights the severity of the development industry, analysing 3227 defects across 212 buildings in NSW, Victoria and Queensland. In today’s episode our hosts discuss the problems plaguing the development industry and how they can redeem themselves in the coming years when truth surrounding their dodgy dealings spills. Here’s what we covered: <ul> <li> The risks of buying brand new. </li> <li> Why NSW is the riskiest state to buy a new apartment. </li> <li> Why is there very little research on new buildings? </li> <li> What happens to tenants with defects and the red tape involved? </li> <li> Water related defects are the most costly and common defect. </li> <li> Why does home and contents insurance not protect you from defects? </li> <li> Why you should always invest more into a specialised property lawyer </li> <li> How do we make quality builds and also solve the housing affordability crisis </li> <li> Will developers make the first stand and take ownership for defects? </li> <li> Rectification costs never capitalised when you go to sell. </li> <li> Cheap apartment = Costly endeavour. </li> </ul> MENTIONED EPISODES:<a href="https://www.theelephantintheroom.com.au/podcasts/087" target="_blank" rel="noopener">Episode 87 | Kerry Hunt</a> <a href="https://www.theelephantintheroom.com.au/podcasts/091" target="_blank" rel="noopener">Episode 91 | Rod Fehring</a> <a href="https://www.theelephantintheroom.com.au/podcasts/106" target="_blank" rel="noopener">Episode 106 |  Dodgy Developers</a> GUEST LINKS:<a href="https://www.deakin.edu.au/about-deakin/people/nicole-johnston" target="_blank" rel="noopener">Deakin University: Nicole Johnston</a> <a href="http://deakinhomeresearchhub.com/" target="_blank" rel="noopener">Deakin University: Home Research Hub</a> <a href="https://homebuyeracademy.com.au/search-prop/why-you-should-never-buy-off-the-plan" target="_blank" rel="noopener">Home Buyer Academy</a> HOST LINKS: Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au" target="_blank" rel="noopener">www.gooddeeds.com.au</a> Work with Veronica: <a href="mailto:info@gooddeeds.com.au" target="_blank" rel="noopener">info@gooddeeds.com.au </a> Looking for a Mortgage Broker? <a href="https://www.wealthful.com.au/" target="_blank" rel="noopener">www.wealthful.com.au</a> Work with Chris: <a href="mailto:hello@wealthful.com.au" target="_blank" rel="noopener">hello@wealthful.com.au</a> Buy the book - AUCTION READY How to buy property at auction even though you’re scared s#!tless: <a href="http://www.getauctionready.com.au" target="_blank" rel="noopener">www.getauctionready.com.au</a> Use the coupon ELEPHANT for your 30% listener discount. EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness… This episode was recorded on 26 February, 2020. <a href="https://www.theelephantintheroom.com.au/podcasts/106" target="_blank" rel="noopener">https://www.theelephantintheroom.com.au/podcasts/112</a>

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

Our hosts chat with Dr. Nicole Johnston and her report on building defects in the residential sector.

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