We moved from Sydney to Perth in 2017 as we were unable to escape the rental trap & absolutely love it. We built a 4-bedroom house with a theatre 20km from the city for only $430k with only 2% ($3k) deposit in 2018 thanks to the W.A Government financing the loan with no LMI via Keystart Loans. We felt very frustrated in Sydney & feel very fortunate that the state government here cares about its residents unlike NSW. There are no road tolls either here (unlike NSW thanks to massive corruption by their politicians) & electricity bills are less than a 1/4 of what we used to get in Sydney thanks to the 20 solar panels that only cost us an extra $1000 when we built the house. Our first investment property has been thru an SMSF with our 3-bedroom townhouse in Brisbane going up over $150k since December 2023. We also just bought a 510m2 block for only $289k in Mandurah so we can build our dream house & negatively gear our current house to reduce our taxable income. This was all only possible due to moving to Perth & is how Australia should be in my opinion.
Thanks guys. 18:00 in talk of first home buyers not buying even though rates are low. Due to smart phones and the Internet people are far more financially literate than they used to be and therefore they are aware of the fact that homes are predominantly a liability rather than an asset. We still have older generations that have not educated themselves on economics and finances but for the most part the younger generations are not interested in locking up 30 years of their producing time to an asset that when adjusted for inflation and associate costs will depreciate. Added to this we have a 15 year period. that has just begun with Boomers transitioning into assisted-living, aged care facilities, units and departments which means we will have a glut of property coming onto the market at prices lower than we have seen in the past and the younger generations are acutely aware of this, so they are in no rush to pile in to the housing market at the moment .
When you have such valuable guest on can you please ask about Tasmania and elaborate we are missed on every data point on main stream media it’s maddening 🤦♀️🤦♀️ It was GREAT to hear us actually mentioned in this one albeit a snippet
"Abolishing negative gearing, reforming capital gains tax, and banning foreign buyers from purchasing residential property while encouraging them to invest in commercial property could help balance the housing market. Providing tax incentives for first-home buyers on their mortgage interest payments for the first ten years (similar to the U.S. housing policy) would promote home ownership, reduce demand for rental properties, and lessen the burden on taxpayers in the form of rental assistance. Additionally, 80% of newly released land should be allocated to first-home buyers."
I'm renting, I have not been able to go on holidays or do anything enjoyable for a long time. All I do is work, cook my own food, and rarely go out. I think it is very arrogant saying that people aren't spending so much on property because they don't want to give up the life style of going on holidays. I haven't gone on a holiday for almost a decade, and I'm no where near able to afford a home. The only way I can downgrade my life style now is to stop eating and not turn on the lights on at home, or not use the heater when it's freezing. The ONLY people I know that can afford to go on holidays are those who already own their own home out right or are well along the way to pay of their mortgage. I'm just angry at how expensive the market is. I make 80k and that is literally getting me nowhere.
Agreed. Rents are chewing up most of people's wages. Housing affordability is affecting buyers and renters. I truly hope it gets more affordable and you can to go on a holiday some time soon.
The Idea of going on family holidays is just a thing of the Edwardian era. Your ancestors who lived in the Victorian era never went on Holidays. Thats because all the fruits of colonialism and imperialism from the Victorian era, their offsprings Edwardians got to enjoy. You will not have those luxuries in the Carolean era as Western economies shrink due to the significant loss of Manufacturing Capability and csh stuck in the property markets.
@@richardv9648 You are right. I am just angry at the current economics who's plans are in place (specifically the keynesians economics) that is supposed to improve peoples lives but are actually making it worse for most people. Yet they refuse to acknowledge it and keep it going. They are the flat earthers of economics and yet somehow manage to still be in charge.
Just make Negative Gearing and associated CGT discount only apply to new builds, but granted as a tradeable, consumable token that an investor can use against an existing property. That way FHBs can trade the rights to someone else. The net result is a new house was built as a result
The problem is house prices not the number of houses. Clever deflection of this site from the greed of speculators and investors who feed off the extremely generous tax breaks, concessions, grants provided by the taxpayer. The political establishment is too weak willed to pull the plug on the biggest rort in society. Hence an economic catastrophe would be most welcomed and fortunately is coming sooner rather than later. The big one where no amount of money printing will save their rotten and corrupt financial system.
I think people are forgetting what property is supposed to be exactly? It is supposed to be for dwelling by Aussies in their own country. It is not for every tom,dick and harry from around the world...The main purpose is to maintain the SOVEREIGNTY of the Australian citizen...
The government should introduce more attractive savings products to encourage investment beyond negative gearing. For example, infrastructure bonds could offer incentives such as a 10% tax offset on investments of $10,000 (providing a $1,000 tax benefit), with the investment locked in for the first ten years and tradable thereafter. These bonds should also provide a competitive dividend yield to attract investors. Funds raised through these bonds could then be used to finance infrastructure development.
Low interest rates relative to long term average interest rates but interest rates compared to house prices/income ratio is off the chart! That’s why first home buyers can’t buy and are renting.
For those with a 400-500k budget. North Queensland is the clear winner. Yes, it's behind with infrastructure, health care and employment, however, with the continued spread of our population, the government will have no choice but to invest more and more into our regional centres. The biggest pro is obviously lifestyle but other big pro for southerners, is their work ethic. If your CV shows you've migrated North, you're already in the box seat with most employers in North Queensland. The simple fact is, Southerners have better work ethic.
Moved to the Goldie in 1993, I have seen it all. Booms busts, Raptis going bankrupt 4 times, vaccancy rates over 10%. Since covid it has now become a lifestyle city. The cost of living is through the roof and those with deep pockets are dropping huge overs for property. As Bernard salt said about 10 years ago. The GC will become a "ghetto for the rich". Well its the best ghetto in the world. My advice if you want to live on the GC, buy now, as prices will only go up.
Too busy now for my liking, however, relative to Sydney and Melbourne, the GC still looks like a sleepy coastal town. You're right, it definitely hasn't peaked just yet.
The Federal Gov told the people for decades there wont be a pension for you, so people have to look after their own retirement. The pension is crap so what do people do they are buying investmebt property to fund their own retirement.
@mr_jdes china had a huge speculative property market like Australia, only difference is a negative birthrate like Australia and no Migration. Causing the market to crash
All of these measures have been tried numerous times around the world and none have even remotely worked. More supply is one of the answers but the government needs to reduce the taxes charged on new properties (greenfield sites it’s more than 30% of total investment)
Lerlt me ask a simple question, why can't I subdivide a R5 zoned block into 1/4 acre Lots? You guys all have "mates" on Macquarie street, so i think its about time that you lobby them to completely rework planning/zoning rules for exisiting blocks in regional NSW. Sydney is ridiculously expensive and with so much land available West of Lithgow, its about time Councils streamline rezoning of already serviced blocks for at least 1/4 acre blocks. Families DONT want apartments, they want good AFFORDABLE housing in economic corridors with simple access to roads and public transport. It goes for all regional areas right across Australia. Shoving bodies into the Sydney bowl, betweens Penrith Bondi, Mona Vale and Cronulla is planning insanity. #thinkoutsidethebowl
It’s interesting watching interview where people have a vested interest in the market. When they mean bad, they mean prices cooling and supply increase….but that is great for the buyer. The Aussie market is so grossly overpriced it’s kinda unbelievable. Artificially kept high by the government and the market itself. Totally ruin it for up coming generations. Unless maybe there’ll be a correction.
We moved from Sydney to Perth in 2017 as we were unable to escape the rental trap & absolutely love it. We built a 4-bedroom house with a theatre 20km from the city for only $430k with only 2% ($3k) deposit in 2018 thanks to the W.A Government financing the loan with no LMI via Keystart Loans. We felt very frustrated in Sydney & feel very fortunate that the state government here cares about its residents unlike NSW. There are no road tolls either here (unlike NSW thanks to massive corruption by their politicians) & electricity bills are less than a 1/4 of what we used to get in Sydney thanks to the 20 solar panels that only cost us an extra $1000 when we built the house. Our first investment property has been thru an SMSF with our 3-bedroom townhouse in Brisbane going up over $150k since December 2023. We also just bought a 510m2 block for only $289k in Mandurah so we can build our dream house & negatively gear our current house to reduce our taxable income. This was all only possible due to moving to Perth & is how Australia should be in my opinion.
@@PradoKakadu just visited Perth it felt like a clean LA
road tolls are not supposed to exist anywhere in Australia. It's the Law as stated in Section 92 of the Constitution.
@HS-PGA have u been to l.a can u explain
@@kelvinjames6344 big wide freeways , very dry arid like , ocean , sun sets in the west over the ocean , quite sprawled out
Interest rates might be at long term averages, but house price to income ratios are through the roof
Thanks guys. 18:00 in talk of first home buyers not buying even though rates are low. Due to smart phones and the Internet people are far more financially literate than they used to be and therefore they are aware of the fact that homes are predominantly a liability rather than an asset. We still have older generations that have not educated themselves on economics and finances but for the most part the younger generations are not interested in locking up 30 years of their producing time to an asset that when adjusted for inflation and associate costs will depreciate. Added to this we have a 15 year period. that has just begun with Boomers transitioning into assisted-living, aged care facilities, units and departments which means we will have a glut of property coming onto the market at prices lower than we have seen in the past and the younger generations are acutely aware of this, so they are in no rush to pile in to the housing market at the moment .
When you have such valuable guest on can you please ask about Tasmania and elaborate we are missed on every data point on main stream media it’s maddening 🤦♀️🤦♀️
It was GREAT to hear us actually mentioned in this one albeit a snippet
"Abolishing negative gearing, reforming capital gains tax, and banning foreign buyers from purchasing residential property while encouraging them to invest in commercial property could help balance the housing market. Providing tax incentives for first-home buyers on their mortgage interest payments for the first ten years (similar to the U.S. housing policy) would promote home ownership, reduce demand for rental properties, and lessen the burden on taxpayers in the form of rental assistance. Additionally, 80% of newly released land should be allocated to first-home buyers."
Genius 🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉
@@satwindersaini4522 absolutely, some good ideas there.
Labor did abolish negative gearing. The same government reintroduced it 2 yrs later when the result of that decision hit home.
I'll second that
The new land being allocated for first-home owners would have a massive effect!
I'm renting, I have not been able to go on holidays or do anything enjoyable for a long time. All I do is work, cook my own food, and rarely go out. I think it is very arrogant saying that people aren't spending so much on property because they don't want to give up the life style of going on holidays. I haven't gone on a holiday for almost a decade, and I'm no where near able to afford a home. The only way I can downgrade my life style now is to stop eating and not turn on the lights on at home, or not use the heater when it's freezing. The ONLY people I know that can afford to go on holidays are those who already own their own home out right or are well along the way to pay of their mortgage. I'm just angry at how expensive the market is. I make 80k and that is literally getting me nowhere.
Agreed. Rents are chewing up most of people's wages. Housing affordability is affecting buyers and renters. I truly hope it gets more affordable and you can to go on a holiday some time soon.
The Idea of going on family holidays is just a thing of the Edwardian era. Your ancestors who lived in the Victorian era never went on Holidays. Thats because all the fruits of colonialism and imperialism from the Victorian era, their offsprings Edwardians got to enjoy. You will not have those luxuries in the Carolean era as Western economies shrink due to the significant loss of Manufacturing Capability and csh stuck in the property markets.
@@richardv9648 You are right. I am just angry at the current economics who's plans are in place (specifically the keynesians economics) that is supposed to improve peoples lives but are actually making it worse for most people. Yet they refuse to acknowledge it and keep it going. They are the flat earthers of economics and yet somehow manage to still be in charge.
Just make Negative Gearing and associated CGT discount only apply to new builds, but granted as a tradeable, consumable token that an investor can use against an existing property. That way FHBs can trade the rights to someone else. The net result is a new house was built as a result
I really enjoyed you talk tonight. Thanks very much!!
Check out the interview with Matt Barrie on Equity Mates podcast for real truth on property in Australia
Zero respect for real estate agents
Great guests. Thanks Mark.
Great questions, nice interview mate!
Great honest Aussies...great insight! Thank you
How does anyone build a business this quick? It's not like it wasn't in a very well established sector. Amazing.
The problem is house prices not the number of houses. Clever deflection of this site from the greed of speculators and investors who feed off the extremely generous tax breaks, concessions, grants provided by the taxpayer.
The political establishment is too weak willed to pull the plug on the biggest rort in society. Hence an economic catastrophe would be most welcomed and fortunately is coming sooner rather than later.
The big one where no amount of money printing will save their rotten and corrupt financial system.
Be a stoic not a victim.
@@pug7053 I think what you are trying to say is, be stoic while being a victim?
I think people are forgetting what property is supposed to be exactly? It is supposed to be for dwelling by Aussies in their own country. It is not for every tom,dick and harry from around the world...The main purpose is to maintain the SOVEREIGNTY of the Australian citizen...
What a great interview Mark, by the way I’m going on November to the event in Sydney.
The government should introduce more attractive savings products to encourage investment beyond negative gearing. For example, infrastructure bonds could offer incentives such as a 10% tax offset on investments of $10,000 (providing a $1,000 tax benefit), with the investment locked in for the first ten years and tradable thereafter. These bonds should also provide a competitive dividend yield to attract investors. Funds raised through these bonds could then be used to finance infrastructure development.
Low interest rates relative to long term average interest rates but interest rates compared to house prices/income ratio is off the chart! That’s why first home buyers can’t buy and are renting.
What a great interview.
For those with a 400-500k budget. North Queensland is the clear winner. Yes, it's behind with infrastructure, health care and employment, however, with the continued spread of our population, the government will have no choice but to invest more and more into our regional centres. The biggest pro is obviously lifestyle but other big pro for southerners, is their work ethic. If your CV shows you've migrated North, you're already in the box seat with most employers in North Queensland. The simple fact is, Southerners have better work ethic.
I wonder what the 3rd thing was... Clearly Mark doesn't want us to learn Matt's secrets!! lol
People aren’t willing to change lifestyle or a huge bubble?
Moved to the Goldie in 1993, I have seen it all. Booms busts, Raptis going bankrupt 4 times, vaccancy rates over 10%. Since covid it has now become a lifestyle city. The cost of living is through the roof and those with deep pockets are dropping huge overs for property. As Bernard salt said about 10 years ago. The GC will become a "ghetto for the rich". Well its the best ghetto in the world. My advice if you want to live on the GC, buy now, as prices will only go up.
Too busy now for my liking, however, relative to Sydney and Melbourne, the GC still looks like a sleepy coastal town. You're right, it definitely hasn't peaked just yet.
The Federal Gov told the people for decades there wont be a pension for you, so people have to look after their own retirement. The pension is crap so what do people do they are buying investmebt property to fund their own retirement.
Ban Airbnb and short term rentals. Tax empty secondary properties. Abolish negative gearing. Implement rent controls.
Move to China 🇨🇳
Yooohoooo! Ban immigration
@mr_jdes china had a huge speculative property market like Australia, only difference is a negative birthrate like Australia and no Migration. Causing the market to crash
All of these measures have been tried numerous times around the world and none have even remotely worked. More supply is one of the answers but the government needs to reduce the taxes charged on new properties (greenfield sites it’s more than 30% of total investment)
@@joshuajackett6371 maybe reduce immigration too, it might have some effect 😉
Nonsense .
More like not enough money for the poor .
Sorry I meant the middle class , which is a bumma for the loan businesses
Lerlt me ask a simple question, why can't I subdivide a R5 zoned block into 1/4 acre Lots?
You guys all have "mates" on Macquarie street, so i think its about time that you lobby them to completely rework planning/zoning rules for exisiting blocks in regional NSW.
Sydney is ridiculously expensive and with so much land available West of Lithgow, its about time Councils streamline rezoning of already serviced blocks for at least 1/4 acre blocks.
Families DONT want apartments, they want good AFFORDABLE housing in economic corridors with simple access to roads and public transport.
It goes for all regional areas right across Australia.
Shoving bodies into the Sydney bowl, betweens Penrith Bondi, Mona Vale and Cronulla is planning insanity.
#thinkoutsidethebowl
It’s interesting watching interview where people have a vested interest in the market. When they mean bad, they mean prices cooling and supply increase….but that is great for the buyer. The Aussie market is so grossly overpriced it’s kinda unbelievable. Artificially kept high by the government and the market itself. Totally ruin it for up coming generations. Unless maybe there’ll be a correction.
Lithgow and penrith and whalan and bidwill and emerton and shalvey and mt druitt need immigrants to improve the place
❤