EP 029: June 2023 Property Round-Up with Goose McGrath

Recently, I’ve been attending a lot of open homes in my area.

Now, let me tell you…
I almost couldn’t believe how many people were there.

If I didn’t know differently, I’d think I was pulling up to a party! 🎉 😂

From what I’ve been noticing on the ground, property is looking to be back in form.

If you’ve been keeping up with the latest property news,
It’ll be no surprise that prices have increased again this month despite consecutive rate rises.

So, if interest rates aren’t pushing buyers out of the market,
What is actually driving these changes?

Well…

Of course, one of the factors is supply and demand.
But at this point, I’m sure we’ve all heard that there aren’t enough houses being built.

However…

Predicting price changes going forward is going to be far more sophisticated than it has been in recent years.

There has been a shift where markets are moving in a more hyper-localised way than ever before.

That means that there will be different market cycles in different areas…
As well as markets inside of markets.

It won’t be as easy as the country-wide price increases caused by money printing and inflation.

So, to give yourself the best advantage when analysing your next opportunity,
You should know that the three biggest contributors to prices are…
– Jobs
– Lifestyle
– And… affordability

Now, to give you an example of a scenario that would enable growth…

Imagine if you were to buy in an area with growing infrastructure, such as a new hospital or a new university.

In turn, these types of developments may attract more people to live in that area while also providing those same people with higher-paying jobs.

Then, those new jobs and opportunities cause the average incomes in that area to grow higher.

While at the same time, that area remains relatively affordable compared to the average income.

This gives those people the room and budget to outbid each other, driving prices up in that area.

Now, before I get ahead of myself and take the credit for this idea…
I must admit, in this week’s podcast episode, we’re joined by Goose McGrath…
He’s the real genius behind this.

Together with Grant, we dive into what’s really been happening.

You don’t want to miss this!

DISCLAIMER:

All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.