483 | Housing is Undersupplied, So WHY are Home Values Falling? – Chat with Eliza Owen

Watch the episode on Youtube. Click here.

In this week’s episode, we’re welcoming back an incredibly passionate and eloquent data analysis and reporting expert who is ALSO a returning guest. Please welcome back…

Eliza Owen, Head of Residential Research Australia at CoreLogic!    

With her experience as a housing market researcher spanning nearly a decade, Eliza has reported on many of Australia’s critical housing issues, from affordability and credit conditions to the impact of the COVID-19 pandemic on market performance.

In this episode, we’ll use her brilliant insights to explore precisely WHY we see the numbers in today’s property market, like…

🏠 With Australia facing an undersupplied housing crisis, why are some market values still falling?!

📉 How is the housing market defying economic predictions?

🔄  And what’s going on with the inverse relationship between property values and interest rates?!

Listen now to find out!

P.S.  Stay tuned till the end for a sneak peek at CoreLogic’s webinar with Eliza & Effie Zahos, celebrating International Women’s Day and all the women in property. 🎉

Free Stuff Mentioned

• Our Birthday Present to You: Free Suburb Report
  Learn how your suburb has performed and its changing community and properties. ‘Cos it’s our birthday month, we’re also giving it away for $0 (Usually RRP $40)
• Listen to our other episode with Eliza Owen: Episode 308 | Pain & Gain: The Wealth Effect & The Housing Affordability Debate
• Read Eliza’s CoreLogic articles:
  • If housing is so undersupplied, why are some markets falling in value?
  • Relationship breakdown: how the housing market defied economic indicators

• Read PEXA’s article (Mentioned at 36:48) on Cash property purchases surge on the back of strong regional demand
• Read CoreLogic’s “Women & Property 2023” Report. (Keep your eyes peeled for the updated 2024 version: “Gender Equity in Property Ownership” report, releasing 8 March)
• Register for CoreLogic’s “The Property Ownership Insights & Financial Empowerment” Webinar held on 14 March featuring Effie Zahos and Eliza Owen.
• (Not Free) Watch the PICA Webinar replay! Become a member and watch The Property Investors Council of Australia’s recent webinar on 2024 property predictions and shed insight into Buyers Agents’ role.

Graphs mentioned

Timestamps

• 0:00 – Housing is Undersupplied, So WHY are Home Values Falling?
• 1:32 – Our 9th Birthday, can you help us + PICA Webinar Replay
• 4:09 – Mindset Minute: The Paradigm for Investors
• 9:17 – Welcome back Eliza Owen!
• 10:40 – Recap & Money Backstory
• 12:05 – Eliza has never used a credit card: Financial conversations & emotional responses to money
• 16:48 – Why she decided to buy a unit over a house!
• 21:56 – If housing is so undersupplied, why are some markets falling in value?
• 24:35 – How does changing family and renter demographics affect demand?
• 27:46 – The social problem with housing
• 30:18 – What is True Demand?
• 31:44 – If interest rates go down, will APRA’s 3% buffer rate go down
• 32:50 – How the housing market is defying economic indicators
• 33:43 – The inverse relationship of property values and interest rates
• 36:48 – 25.6% of properties purchased in cash?!
• 38:22 – The masterstroke in Western Australia’s market
• 41:24 – Are we seeing green shoots?
• 44:05 – How much of what we saw in 2023 is due to behavioural economics?
• 45:31 – If rates don’t pause, will more homeowners be forced to sell?
• 48:46 – The changing gap between housing and units
• 54:08 – The Substitution Effect: The Buyers of 2015/16
• 59:11 – Why CoreLogic’s “Women & Property” report matters

And…

• 1:05:09 – What a fantastic session, thank you Eliza!
• 1:07:44 – Lifehack: How to stop feeling overwhelmed when juggling life
• 1:10:52 – WMPN: Greens going to vote against Labor’s Home Deposit Scheme 😮