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508 | Mid-Year Property Market Outlook 2024

By in Podcast, Property Investment

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🔮 We’re back with our mid-year property market outlook! 🔮

As we approach the end of 2024, staying informed is more important than ever.
That’s why we’re diving deep into the latest figures to provide you with a comprehensive analysis of the key trends driving the “markets within markets.”

So, where is the property market headed as we close out the year?

Here’s what we cover:

  • 2024 Market Predictions: What We Got Right and Wrong
  • Defying the Odds: Why Some Markets Are Showing Resilience
  • EXPLAINED: The Growing Crisis in Housing Supply
  • RBA Cash Rate Review and What’s Next?
  • Is a Hard Landing in Store with our Inflation Story?

Get a glimpse into the future (Thanks to Corelogic’s in-depth data) by listening in now! 😊

Free Stuff Mentioned…

 

Timestamps

  • 0:00 – Mid-Year Property Market Update 2024  
  • 3:41 – Watch this episode on YouTube! 
  • 4:11 – Moorr Webinar replay, PICA Sentiment Survey & Summer Series shoutout
  • 9:23 – Mindset Minute: Why don’t parents talk about money with their kids?  
  • 11:15 – Where are we today? Year-to-date growth 
  • 13:14 – Did we predict 2024 correctly?  
  • 17:38 – The base case: No recession incoming! Here’s why.  
  • 19:41 – RBA’s cash rate in review  
  • 20:34 – The summary of February’s supply: Surprising market resilience and overall stock  
  • 22:33 – New supply levels of property: Is Spring still the selling season with a 2.5% change? 
  • 26:32 – Total new listings: Is loss aversion creeping in?  
  • 31:27 – Building Approvals: A worsening undersupply and what caused the sharp upward spike?  
  • 35:36 – How much momentum can this positive story continue with?  
  • 37:07 – New financing: Reconciling THIS fascinating chart  
  • 39:31 – Where the market activity is based on total lending  
  • 41:16 – The Rental Story: Why are we seeing cooling markets across Sydney & Melbourne? 
  • 45:47 – Rental yields and average weekly costs  
  • 48:40 – February Recap: The Downside & Upside Story  
  • 50:04 – New August updates: Is a harder landing in store?  
  • 53:11 – Why we should be price takers, not price makers!  
  • 54:37 – Demand & Supply Ratio: Which state is sitting at a healthy 62%?  
  • 57:05 – Days on Market & Vendor Discounts (aka which markets are cooling?)  
  • 1:01:25 –  Market Sentiment: Why do most people expect house prices to continue going up?  
  • 1:05:21 – Where price activity is happening: “The seller has to meet the market”  
  • 1:09:04 – Rental demand and the yields story  
  • 1:11:24 – Recap 
  • 1:13:13 – Into the next 6 months: Rate rises, APRA’s buffer rate & which markets are finishing strong  
  • 1:22:51 – “Property is a big part of Australia’s DNA”    

And… 

  • 1:25:55 – Lifehack: Incentivise your kids…  

505 | Short-Term Rentals: The Complete Guide to 3X your Income – Chat with Hayley Mitchell

By in Podcast, Property Investment

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Investing in Short-Term Rentals: Why and how much does it really cost to succeed?   

In this week’s episode, we welcome back Hayley Mitchell, an award-winning full licensed Real Estate Agent who has worked across ALL facets of Property Management since 1999, including owning her own businesses!  

She has won several prestigious awards, including REIV’s Property Manager of the Year twice, and has been named Elite Agent’s Top 50 Industry Influencers in 2017, 2018, 2019 & 2022.  

After appearing on the couch way back in 2021, she’s returning to share her sharp insights and tried-and-true experiences in succeeding at short-term rentals.    

Here’s a sneak peek of what we’re uncovering…  

  • The 2 factors to determine if short-term rentals are for you    
  • A complete breakdown of the costs required to start up a short-term rental
  • The NEWEST changes to regulations that impact investors who use the short-term rental strategy 
  • Is there a location “sweet spot” for short-term rentals?
  • Real-life case studies on how different short-term property investors found their success, and more!  

 

Free Stuff Mentioned

  • Give property investors a voice! Become a PICA member for just $5 and help give property investors across Australia a voice against unjust changes to state regulations.  
  • PIPA Annual Investor Sentiment Survey 2024: We want to hear your thoughts on government regulation and tenancy relationships in PIPA’s annual survey!  This data is critical to accurately representing the views of property investors and protecting them in ongoing legislative changes. We just need 3,000 responses, folks. Share your thoughts here now! 

 

Timestamps

  • 0:00 – Short-Term Rentals: The Complete Guide to 3X your Income – Chat with Hayley Mitchell  
  • 2:46 –  Mindset Minute: The #1 secret that separates winners and losers  
  • 5:00 – Welcome Hayley!  
  • 5:53 – 20 years in the game: Why short-term rentals?  
  • 7:56 – Money Story: How a horse saddle taught her an invaluable money lesson  
  • 14:23 – Accidental accumulation and her first property  
  • 16:05 – Why choose short-term rentals?  
  • 17:44 – A $38G land tax bill: When should an investor walk away from short-term rentals?  
  • 20:43 – The most asked short-term rental questions  
  • 23:00 – How much upfront capital does it take to furnish a short-term rental?  
  • 26:11 – When can investors start to expect to see a return? 
  • 27:21 – The golden rule of thumb for platform fees  
  • 28:30 – The big problem with Victoria’s incoming 7.5% levy tax  
  • 30:39 – Do people really take the forks?!  
  • 32:34 – How much does insurance cost?  
  • 33:21 – Professional vs. Private hosts  
  • 35:00 – The Hidden Tax: How much do Property Managers cost?  
  • 39:19 – “A good manager should pay for themselves” 
  • 39:59 – The sweet spot for short-term rentals  
  • 44:07 – How do you make your short-term rental stand out?  
  • 46:16 – How can property investors stay on top of regulation changes  
  • 49:55 – An 89-day stay?! 😮  
  • 51:26 – Are short-term rentals adding to the housing affordability crisis?!    
  • 53:08 – The carrot vs. the stick approach  
  • 56:21 – Best & worst results from an industry-winning property manager 
  • 1:01:28 – How to understand short-term supply and demand  

And… 

  • 1:02:27 – What an amazing guest!  
  • 1:04:58 – Lifehack: Packing Cubes: Yay or Nay?  
  • 1:07:53 – WMPN: NSW’s No Grounds Evictions  
  • 1:12:09 – Become a PICA member for just $5 and help us give property investors a voice!  
  • 1:13:00 – Share your thoughts in PIPA’s Annual Investor Sentiment Survey 2024 
  • 1:17:10 – Thank you, Tom!  

 

Free Report: Year-end considerations for Rental Property Owners

By in Case Study, Free Resources

As the year draws to a close, we begin reflecting on the changes we’ve made over the past year…

Wait – we’re not talking about Christmas or the end of 2022!

We’re talking about the end of the financial year for property investors!!

This time is all about recording those new changes to your homes – be it repairs, renovations or improvements – and submitting them in your 2022 tax return!

This report covers what you can claim when doing either of these three (plus what isn’t tax-deductible) and what general deductions you can make.

Simply put, we’re trying to share some tax tips to maximise your return this tax season!! 

So what are you waiting for?

Let’s get started! Simply fill in the form below and we’ll email the PDF to your inbox 😊

 


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p.s. Tune in to the full Bonusisode on Tax Planning Tips to Maximise your Returns (Part One) to hear Property Tax Guru Julia Hartman and our own Ben Kingsley unpacking this report. Start playing from 32 minutes 56 seconds folks!

p.s.s On the hunt for a good Tax Accountant? Well, look no further! Book in a free and no-obligation initial consultation with one our Tax Experts here!

 

284 | Kyal & Kara from The Block – How To Renovate, Raise Kids, Run A Business & Not Lose Your Mind in the Process

By in Podcast

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“Kyal & Kara” Demmrich became household names after the humble chippy & physio joined The Block back in early 2014 for their Fan Vs Faves series. And when that popular reality program was over, the courageous renovation-lovers decided to do it ALL again – this time on Reno Rumble in April 2015!

And now, with their own successful Design & Construction business, Diverse Design & Build, and tackling their own Renovation Series, Kyal and Kara are a near-perfect example of what it’s like to renovate, raise kids, run a business and not lose your mind in the process!

In fact folks, we’ve ‘gotta hand it to them – this couple is remarkably positive, healthy and staying ahead of the game!!

And guess what’s even more surprising? We actually interviewed them during “The Week They Never Want to Repeat!!”

So. What’s their secret?

And what renovation tips could the rest of us benefit from?! (Maybe BEFORE you “do a Ben” and challenge your sanity be renovating the family home!)

 

Free Stuff Mentioned

 

What we cover in today’s episode…

  • Life “Before The Block”– What was Kyal & Kara’s first ever renovation?
  • Applying for The Block – the audition and interview process
  • What was it like to have a camera crew following you around for 3 months straight? (And how did it feel when it was all over?)
  • Kyal & Kara’s Backstories – What was money and the Property Story like growing up?
  • Why did they decide to do it all again so quickly?
  • What was the bad side of being in the spotlight?
  • What was the planning process like when turning around a room in one week? (Did they get help from the producers of The Block?!)
  • What’s the deal with Kyal nailing his hand to the wall? (ouch!)
  • How did the find their current renovation project?
  • Top 3 Tips to Survive a Reno!
  • Accidents & Mishaps and things NOT to do when renovating?
  • What’s the “rule of thumb” of renovation costs per metre?
  • Is the goal to Renovate & Sell or Renovate & Accumulate?
  • How do they keep their mindset in check?
  • How has COVID-19 impacted their current life? How have they pivoted?
  • Importantly: What’s the secret to renovating, raising kids, running a business and NOT losing one’s mind in the process?

 

P.S. Here’s a quick snippet of the nail accident! 👇

P.P.S. And here’s a behind the scenes view of our recording 👇

UPDATE: WA Residential Rent Relief Grant Scheme

By in Podcast, Q&A

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As each State Govt rushes to respond to this health crisis, we strive to update our community on the most recent changes relating to residential real estate as well. And this update is no different.

This time, we’ll be unpacking the New Residential Rent Relief Grant released by the WA Govt last week on the 23rd of April 2020! The WA State Government is making available $30 million for grants of up to $2,000 for Western Australian residential tenants who lost their jobs on or after 20 March 2020 and are facing financial hardship due to the COVID -19 pandemic.

Here to fill us in on the details is Damian Collins, President of REIWA, the Founder and Managing Director of Momentum Wealth and also the Chairman of commercial property funds management business, Mair Property Funds.

 

In this short update, we’ll be covering these questions:

  • How are WA landlords and renters affected by a moratorium on evictions?
  • If there is any Land Tax Relief for Property Owners?
  • Can rent be increased during the emergency period?
  • What is the emergency period?
  • What constitutes Financial Hardship and what documents are needed?
  • Can a renter ask to reduce their rent payments?

For more questions relating to WA Rent Relief Grant, please refer to this website: https://www.commerce.wa.gov.au/consumer-protection/residential-tenancies-covid-19-response

And of course, if you’re a tenant and are currently facing financial difficulties due to COVID-19, we strongly recommend you to check out the New Residential Rent Relief Grant by the WA Govt here to apply for the grant.

 

Free Resources

 

And of course… Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

And One Final Word…

If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.

Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.

 

 

 

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