September 09, 2023

2-Sense: Pattern book housing proposal, buyer FOMO and what Australia will look like in 2063

38 minutes

Welcome to this week's edition of 2 Sense on The Australian Property Podcast, where we break down the biggest news headlines of the week and tell you what this really means for you.

Mortgage Broker Chris Bates and Buyer's Agent Pete Wargent talk about pattern book housing, stronger market dynamics, and the future of Australia.

Story 1: Pattern book housing proposal for NSW

A new proposal launched by Housing Group Now to speed up the supply

The proposal: 375,000 dwellings in 5 years, building up 30 medium-density suburbs across the city

Benefits: Supply increases if it speeds up building approvals and projects

Risks: Quantity over quality, cutting of corners, defects, etc

Story 2: Stronger market dynamics, could buyer FOMO explode?

With the rate on hold for the 3rd consecutive month and household consumption now slowing, buyer FOMO is set to explode

Listings rose in August in Sydney and Melbourne as vendor confidence grows

Westpac calling next move down in 2024

Story 3: Intergenerational report reveals what Australia could look like in 2063

Population projections 43 million in 2063 (we usually overshoot the projections)

Estimate large ageing population and young migrants

The healthcare sector will require huge investment and employment (noteworthy for housing and commercial property too)

The expectation is that there will be a large investment in renewables

Tax: Australia may need to shift the focus away from income taxes which are already very high, towards other forms of tax e.g. inheritance, land tax, higher GST etc

Australian Property Podcast resources:

Story 1 - Pattern Book Housing

Story 2 - Buyer FOMO

Story 3 - Intergenerational report

Pete's Blog

Australian Property Podcast online - videos, notes & resources

Ask a question

Chris' mortgage broking

Amy's new property course

Amy's 100-point checklist (PDF)

Pete Wargent's property coaching

Join Owen's Rask Core membership for $0.99

INFORMATION WARNING!

This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.

Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.

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