Have you ever wondered why, despite the widely recognised affordability crisis in Australia, housing prices continue to soar? This puzzling situation raises questions about how the housing market works and what it means for those trying to buy a home or invest in property.

In today's episode, we talk to senior economist Paul Ryan from REA Group’s PropTrack. Paul's been digging into real estate trends for quite a while, and he's got a practical grasp of the subject. His straightforward insights into what's driving housing prices gives us a clear picture of the current market.

If you'd like to understand why homes are becoming more expensive even in the face of affordability concerns, or maybe you're curious about the disconnect between affordability and rising prices, this episode is for you.

Episode Highlights:

00:00 - Introduction

01:06 - Who is Paul Ryan?

01:56 - Paul’s take on the 2023 property market coming into 2024

03:57 - Factors behind the decline in housing turnover over the past decade

06:09 - How are economic factors affecting the downsizing phase of homeownership?

08:49 - What role does Australia's economic well-being play in housing affordability?

10:39 - Metrics used to assess affordability and which one labels Australia as highly-priced

16:24 - How will intergenerational wealth transfer impact future housing affordability?

19:02 - Strategies on the government's roadmap for housing challenges in the next decade

22:08 - How Paul thinks the shortage of homes in desirable locations should be tackled

30:23 - Is the COVID-driven home builder initiative really causing a profitless boom for builders?

33:12 - Should heritage preservation take precedence over urban densification?

36:27 - Explain the inconsistency of crowded living and spare bedrooms near the CBD

39:29 - How can the real estate industry make downsizing more appealing for empty nesters?

43:05 - What factors contribute to the surprising affordability of buying versus renting?

45:26 - Exploring the RBA's mindset during periods of slowing inflation

50:47 - What’s the disconnect: 40% negative cash flows, but no widespread property sales?

54:45 - Paul Ryan’s property dumbo

About Our Guest:

Paul Ryan is an economist at REA, specialising in housing finance, market forecasting and big data analysis. Before joining REA in December 2020, Paul spent a decade at the Reserve Bank of Australia conducting research on the Australian economy, focusing on housing markets, lending risks and regulatory effects on property markets. Paul is based in Sydney.

Connect with Paul Ryan:
LinkedIn https://www.linkedin.com/in/paul-ryan-524ba456/
Read Paul’s articles here https://www.realestate.com.au/news/author/paul.ryan/
Visit PropTrack’s Website https://www.proptrack.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

Have you ever wondered why, despite the widely recognised affordability crisis in Australia, housing prices continue to soar? This puzzling situation raises questions about how the housing market works and what it means for those trying to buy a home or invest in property.
In today's episode, we talk to senior economist Paul Ryan from REA Group’s PropTrack. Paul's been digging into real estate trends for quite a while, and he's got a practical grasp of the subject. His straightforward insights into what's driving housing prices gives us a clear picture of the current market.
If you'd like to understand why homes are becoming more expensive even in the face of affordability concerns, or maybe you're curious about the disconnect between affordability and rising prices, this episode is for you.
Episode Highlights:
00:00 - Introduction
01:06 - Who is Paul Ryan?
01:56 - Paul’s take on the 2023 property market coming into 2024
03:57 - Factors behind the decline in housing turnover over the past decade
06:09 - How are economic factors affecting the downsizing phase of homeownership?
08:49 - What role does Australia's economic well-being play in housing affordability?
10:39 - Metrics used to assess affordability and which one labels Australia as highly-priced
16:24 - How will intergenerational wealth transfer impact future housing affordability?
19:02 - Strategies on the government's roadmap for housing challenges in the next decade
22:08 - How Paul thinks the shortage of homes in desirable locations should be tackled
30:23 - Is the COVID-driven home builder initiative really causing a profitless boom for builders?
33:12 - Should heritage preservation take precedence over urban densification?
36:27 - Explain the inconsistency of crowded living and spare bedrooms near the CBD
39:29 - How can the real estate industry make downsizing more appealing for empty nesters?
43:05 - What factors contribute to the surprising affordability of buying versus renting?
45:26 - Exploring the RBA's mindset during periods of slowing inflation
50:47 - What’s the disconnect: 40% negative cash flows, but no widespread property sales?
54:45 - Paul Ryan’s property dumbo
About Our Guest:
Paul Ryan is an economist at REA, specialising in housing finance, market forecasting and big data analysis. Before joining REA in December 2020, Paul spent a decade at the Reserve Bank of Australia conducting research on the Australian economy, focusing on housing markets, lending risks and regulatory effects on property markets. Paul is based in Sydney.
Connect with Paul Ryan:
<ul>
<li aria-level="1">LinkedIn <a href="https://www.linkedin.com/in/paul-ryan-524ba456/">https://www.linkedin.com/in/paul-ryan-524ba456/</a></li>
<li aria-level="1">Read Paul’s articles here <a href="https://www.realestate.com.au/news/author/paul.ryan/">https://www.realestate.com.au/news/author/paul.ryan/</a></li>
<li aria-level="1">Visit PropTrack’s Website <a href="https://www.proptrack.com.au/">https://www.proptrack.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>

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

Advertisement