The Elephant In The Room Property Podcast | Inside Australian Real Estate

Is all this property wealth we talk about actually real—or is it just theoretical? That’s what we unpack in this episode with our guest Martin North, founder of Digital Finance Analytics and someone who’s been watching the numbers and the story behind them for years. We ask him: is Australia’s $11 trillion property market built on something solid, or are we clinging to an illusion that’s quietly reshaping the country?

Martin walks us through what he calls a “Python swallowing an elephant” moment; the massive bulge of intergenerational wealth that’s moving slowly through the system. We get into what’s really happening with downsizing, why reverse mortgages might not be the win they’re often sold as, and what happens when kids start relying too heavily on the Bank of Mum and Dad. Spoiler: it’s not as simple or as safe as people think.

We also look at what governments are doing, policies around death tax fears, proposed taxes on unrealized gains in super, and the broader impact of kicking the can down the road. Martin doesn’t hold back when it comes to calling out flawed thinking or dangerous policy decisions, and it makes for a really thoughtful, at times surprising, conversation.

If you’re trying to make sense of where the market’s heading or what might be brewing beneath all this apparent prosperity, you’ll want to sit with this one. It’s not about panic—it’s about facing the bigger picture and asking the harder questions most people still avoid.

Episode Highlights:

00:00 - Introduction

01:26 - Who is Martin North?

02:20 - Why is intergenerational wealth transfer such a big issue today?

07:38 - Are we double counting superannuation totals when comparing asset classes?

11:29 - Why can’t many older Australians downsize, even if they want to?

13:04 - Financial traps hidden in retirement villages and reverse mortgages

18:31 - How wealth and mortgage debt are distributed across generations, and why it matters

23:21 - Cultural shift in how families are handling financial support across generations?

28:05 - Are younger generations developing a sense of entitlement toward parental financial support?

33:52 - Martin's thoughts on the proposed policy to tax unrealized gains in superannuation

39:01 - Did tax reforms under Howard trigger Australia’s property boom?

41:57 - Why has Australia’s property market outpaced the UK since 2000?

45:00 - Will Australia’s $11 trillion in property wealth ever truly change hands?

48:48 - What happens when the property wealth wave finally hits the end of the line?

52:56 - Are Australians starting to see the deeper layers behind the housing crisis?

57:19 - Martin North’s property dumbo

About Our Guest:

Martin North is the founder of Digital Finance Analytics, a boutique research and analytics firm focused on the intersection of finance, property, and consumer behavior in Australia. With a background in banking, data science, and strategic consulting, Martin is known for his in-depth housing market surveys and independent commentary on financial systems. He regularly appears in media and podcasts to share insights grounded in data, particularly on topics like intergenerational wealth, mortgage stress, and housing affordability. His work combines macroeconomic analysis with real-world household data, making him a respected voice in Australian property and finance conversations.

Connect with Martin North:

• LinkedIn https://au.linkedin.com/in/martin-north-6a799182
• Website https://www.digitalfinanceanalytics.com/
• X (formerly Twitter) https://x.com/DFA_Analyst

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at:
• The Elephant in the Room Property Podcast - [email protected]


• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.alcove.au
• Work with Chris: [email protected]

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.

The building industry in Australia 2025 is still feeling the ripple effects of COVID, supply chain chaos, and builder collapses, and we wanted to know what it actually looks like to survive all that. So we brought in Brad Duggan, CEO of Metricon, to pull back the curtain on what went wrong, what they got right, and what others need to understand if they’re going to build homes (and stay afloat) in this market.

Brad doesn’t hold back. He talks about the grind; the fixed-price contracts, the cost blowouts, the tough calls they had to make just to finish the work they promised. We got into what shifted for buyers too: smaller homes, simpler choices, and a stronger demand for turnkey builds. There’s a reason Metricon pivoted in that direction, and it’s not just about profit, it’s about stability.

We also talked through some of the bigger picture issues shaping the building industry in Australia 2025. Delays in planning, lack of trades, materials tied up in tunnels and infrastructure jobs, councils dragging their feet. Brad’s got strong views on all of it, and some practical thoughts on what actually needs to change.

If you’re buying, building, or even just trying to wrap your head around the future of housing in Australia, this chat cuts through the noise. So let's dive in and get started.

Episode Highlights:

00:00 - Introduction

01:11 - Who is Brad Duggan?

01:33 - How bad has it really been for builders in the last few years?

04:14 - The toughest truths Brad had to face in stepping in as CEO

05:56 - How much building capacity did the industry lose due to insolvencies?

07:26 - If builders went under, why is there still a skilled labor shortage?

09:05 - What’s driving the increase in home building costs today?

11:45 - How much of the 50% cost increase is due to materials vs labour?

14:48 - Is outsourcing builds to China a practical solution to supply shortages?

16:05 - What makes modular construction so expensive and hard to scale?

18:29 - Are Australians too picky about customisation for mass-market housing to work?

20:31 - Why aren’t apartments a good entry point for young buyers?

21:21 - What types of builds make up Metricon’s current portfolio?

22:41 - What are the cost and risk differences between custom builds and volume builders?

25:19 - The risk of cookie-cutter suburbs in affordable housing

29:38 - Has construction productivity actually improved in Australia or not?

32:43 - Should buyers focus more on land content for better capital growth?

36:38 - Have all affected customers from collapsed builders been helped?

37:45 - What role should regulators play in builder accountability?

39:05 - Are investors finally returning to the market?

40:07 - What’s wrong with how some investment properties are sold?

47:14 - Does protecting the ‘neighbourhood feel’ stall progress?

51:39 - Brad Duggan’s property dumbo

About Our Guest:

Brad Duggan is the Chief Executive Officer of Metricon, Australia’s largest home builder. He stepped into the CEO role in July 2023 after serving as the company’s Chief Financial and Operating Officer. With over two decades of experience in finance and construction, Brad has held senior leadership positions at Probuild, WBHO Infrastructure, Australian Unity, and PwC. He holds a Bachelor of Commerce in Accounting and Finance from the University of Tasmania and is a Chartered Accountant. Brad is known for his pragmatic leadership during one of the most challenging periods in the construction industry, guiding Metricon through a successful financial turnaround while maintaining its position as the country’s top residential builder.

Connect with Brad Duggan:

• LinkedIn https://au.linkedin.com/in/brad-duggan-96160818
• Website https://www.metricon.com.au/

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast [email protected]
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.alcove.au
• Work with Chris: [email protected]

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.

What do zoning shakeups mean for your suburb, your street, and your property’s value? In this Q&A episode, we answer real questions from listeners and unpack the property market trends that are shaping the way people buy, build, and invest right now.

We talk about what makes a home “A-grade” beyond land size and location, how to avoid overcapitalising, and why things like natural light and flexible layouts matter more than fancy finishes. We also break down the reality of rentvesting with a family and whether that under-$600K “positively geared” investment still exists.

Here’s what we break down in this episode:

• Zoning changes are reshaping Sydney’s character suburbs—some areas will win, others could lose.
• Future-proofing your build matters: think layout, street appeal, and long-term resale.
• High rental yield doesn’t always mean better—capital growth still does the heavy lifting.
• Rentvesting only works if it fits your long-term goals and lifestyle.
• Don’t chase trends. Understand why the property market is shifting before you buy.

If these are the questions keeping you up at night, or at least making you pause, this episode’s worth a listen.

Episode Highlights:

00:00 - Introduction

01:49 - How will zoning and development changes affect Sydney’s heritage suburbs?

11:44 - What should I consider when building a home to maximise resale or rental value?

18:50 - Are three-bedroom apartments really being bought by first home buyers?

22:41 - Should I focus on capital growth or rental yield while building my portfolio?

34:03 - Is it still possible to buy a positively geared property under $600K?

43:56 - Should we rentvest or try to buy in an area we’ve been priced out of?

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - [email protected]
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.alcove.au
• Work with Chris: [email protected]

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.

What if everything we’re told about fixing Australia’s housing crisis is just scratching the surface? That’s the starting point for our conversation with Michele Adair, Managing Director of the Housing Trust and a long-time advocate for meaningful housing reform. Michele brings decades of experience and doesn’t hold back when talking about what’s really broken in the system.

Throughout the episode, we cover key issues that are often ignored or oversimplified in the national conversation around Australia’s housing crisis, including:

• Why political promises rarely translate into real, on-the-ground housing outcomes
• The limitations of the private market and why it can’t deliver genuinely affordable homes
• How capital gains tax discounts cost the federal budget $23 billion a year – funds that could support social housing
• The gap between housing policy and delivery, and how that disconnect keeps communities in crisis
• Why the Housing Australia Future Fund is a step in the right direction, but severely underfunded and politically vulnerable
• The urgent need for a 20-year national housing strategy that includes all levels of government and addresses workforce shortages
• How community housing providers are being stretched to the limit, despite being more efficient and regulated than many think
• Why defining “affordable housing” matters, and how that definition has been lost at a federal level

If you care about what’s happening in housing, or you’re just tired of hearing the same old solutions that clearly aren’t working, this one’s worth a listen. Let's get started!

Episode Highlights:

00:00 - Introduction

01:21 - Who is Michele Adair?

01:59 - Could the election results have an impact on the ongoing rental crisis?

04:36 - What Michele believes the Labor Party still needs to address beyond supporting HAAF

07:06 - How Michele views the investment fund approach vs direct housing build

09:56 - What’s currently preventing good affordable housing proposals from moving forward

11:02 - Why Michele believes political messaging around “supply” misses the real issue

13:48 - Why housing affordability can’t be fixed by doing the same thing over and over

16:07 - Why housing policy shouldn't be a one-size-fits-all

27:17 - What’s changed, or hasn’t, in the rental crisis since the last conversation

29:49 - How having three levels of government makes fixing housing more difficult

36:50 - Michele’s views on how tax structures and hidden costs affect affordability

38:44 - How community housing is currently financed, and why it’s becoming harder

49:21 - How poorly designed rental laws are putting pressure on both renters and landlords

52:22 - Will regional oversupply outpace urban rental demand?

58:06 - Michele Adair’s property dumbo

59:34 - Thoughts on the 3D printed house

About Our Guest:

After seven years as CEO at Housing Trust, Michele Adair has now moved into the role of Managing Director to focus on portfolio growth. A courageous and pragmatic driving force in housing policy and advocacy, she was named one of the five most powerful people in property by the AFR in 2023 and won the UDIA’s national award for leadership excellence the same year. Michele was the inaugural Chair of Homes Tasmania and joined the Australian Urban Research Infrastructure Network as their housing industry expert in 2024.

Connect with Michele Adair:

• Website https://www.housingtrust.org.au/
• LinkedIn https://au.linkedin.com/in/michele-adair

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast [email protected]
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.alcove.au
• Work with Chris: [email protected]

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.

What really goes on in an auctioneer’s mind, and what do they see that most buyers and sellers don’t? In this episode, we chat with Emma Brown-Garrett, a seasoned auctioneer who’s been in the property world for over 20 years, to talk about everything most people misunderstand about auctions. Emma’s not just there to call numbers. She’s reading the room, guiding negotiations, and sometimes stepping in to rescue a sale when things aren’t going to plan.

We asked her what she notices that tells her a buyer has more money to give, and she was very clear: it’s in the increments, the confidence, the speed of the bids. She also shared why so many buyers get it wrong by waiting too long or hoping someone will say “it’s on the market.” If you’re holding back for that moment, you might just miss out. And when it comes to underquoting, Emma doesn’t shy away from the tricky parts. She opens up about what’s legal, what’s fair, and how agents handle the pressure of changing buyer interest during a campaign.

We also dive into the emotional side of auctions; those moments when people start bidding against each other out of ego, not strategy. Emma talks about how she handles it when it starts to feel more like a standoff than a sale, and why being involved from the start of a campaign makes a real difference. She’s not a “rock up on the day” kind of auctioneer, and that changes everything.

If you’ve ever walked away from an auction feeling confused or frustrated, this conversation might just give you the clarity you’ve been missing.

Episode Highlights:

00:00 - Introduction

00:55 - Who is Emma Brown-Garrett?

01:49 - What adds the most value to a property sale?

02:36 - Can auctioneers fix a bad auction setup?

04:21 - Are auctioneers expected to do more than just call bids?

05:31 - What auctioneers need to know before auction day

10:07 - What are the ingredients of a good auction from a seller’s perspective?

11:56 - Emma’s thoughts on agents being the auctioneers themselves

13:50 - The hardest auction Emma’s ever had to call

16:33 - Why being involved before auction day gives auctioneers an edge

20:23 - How auctioneers tell if a buyer has more money to spend

24:48 - Can you spot a dummy bidder? What do they look like?

27:52 - An auctioneer’s responsibility in ensuring that phone bidders are legitimate

29:36 - The role of an auctioneer when buyers start overbidding emotionally

32:09 - Is underquoting still a problem? What auctioneers see on the ground

35:44 - Common mistakes buyers make at auction (and how to avoid them)

39:13 - How has changing market conditions affected the way Emma approaches auctions

43:03 - Mistakes buyer’s agents make on auction day

46:01 - Why bids over $1 million can confuse auctioneers and buyers alike

48:51 - Emma Brown-Garrett’s property dumbo

About Our Guest:

Emma Brown-Garrett is a seasoned real estate auctioneer with over 20 years of experience in the property industry, beginning her career in residential sales with some of Sydney’s most respected boutique agencies. Known for her dynamic energy, adaptability, and sharp communication skills, Emma brings a deep understanding of both sales and auctioneering to every campaign. She is highly regarded for her ability to read the auction floor, guide complex negotiations, and build trust with buyers and sellers alike. As a committed professional who often works closely with agents and vendors throughout the entire campaign—not just on auction day—Emma has earned a reputation for delivering results with integrity, insight, and a personal touch.

Connect with Emma Brown-Garrett:

• LinkedIn https://www.linkedin.com/in/menckwhite
• Instagram https://www.instagram.com/emma_brown_garrett
• Website https://www.menckwhite.com.au/

Resources mentioned in the episode:

• Auction Ready by Veronica Morgan https://gooddeeds.com.au/auction-ready/

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast [email protected]
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.alcove.au
• Work with Chris: [email protected]

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.

How much of what we hear about Australia’s housing crisis is actually true, and how much is just media hype?

In this episode, we’re joined by Cameron Kusher, a property economist who’s here to speak without corporate filters, and he doesn’t hold back. We talk about how the media often gets housing stories wrong, oversimplifying complex issues just to chase clicks. The real concern? That these headlines shape government policy, leading to short-sighted solutions that don’t actually fix anything.

Cameron walks us through what’s really driving the supply issue: rising construction costs, GST on new builds, financing hurdles, and why “just build more” isn’t as easy as it sounds. We also chat about the missing piece in most political conversations: renters. There’s been decades of underinvestment in social and affordable housing, but that rarely gets the spotlight.

We cover everything from tax reform to built-to-rent models, university responsibilities, and what role governments should be playing. If you’ve ever felt like the housing conversation is stuck or too focused on band-aid solutions, this one’s worth a listen.

Episode Highlights:

00:00 - Introduction

01:02 - Who is Cameron Kusher?

01:38 - What frustrates Cameron the most about how media covers the housing market

04:21 - How could governments better assist the housing market?

12:44 -  How biased is property media? Can we trust it?

15:26 - What do major networks get wrong about the property market?

17:30 - Why immigration is so hard to reduce and what does it means for housing

22:08 - Will falling inflation and interest rates increase housing approvals?

26:31 - Are planning reforms in NSW and VIC actually working?

33:35 - How much housing supply is considered enough? Can we sustain it?

42:14 - Could tax reform like land tax replace stamp duty?

46:14 - Do bold buyer incentives help or hurt the housing market?

48:37 - Are young people really locked out of the housing market?

51:53 - Is ‘giving while living’ the new Bank of Mum and Dad?

53:55 - Will downsizing boomers actually free up family homes?

57:46 - Are Australians becoming comfortable with lifelong mortgage debt?

1:00:06 - Cameron Kusher's property dumbo

About Our Guest:

Cameron Kusher is a seasoned property economist and one of Australia’s most respected housing market commentators. With more than 20 years of experience working in the Australian property sector., he has held senior research roles at CoreLogic and REA Group, where he served as Executive Manager of Economic Research. Cameron’s expertise spans residential and commercial property markets, focusing on data-driven insights into housing trends, affordability, and policy impacts. He is a sought-after speaker and writer, known for cutting through media noise to highlight the structural and economic forces shaping Australia’s housing landscape. 

Connect with Cameron Kusher:

• LinkedIn https://www.linkedin.com/in/cameron-kusher-bbb71b46/

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - [email protected]
•  Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.alcove.au
• Work with Chris: [email protected]

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.

What if the real driver behind Australia’s property obsession isn’t logic, but human behaviour?

In this episode, we’re joined by behavioural economist Evan Lucas, and let’s just say… this one’s a thinker. We talk about how our attitudes toward property have shifted since the pandemic; what’s stuck, what’s changed, and why the DIY mindset, generational habits, and even the Bunnings effect all feed into the way we view real estate. It’s not just about shelter. It’s about control. Identity. Security. And that deeply emotional idea of “home.”

Evan pulls back the curtain on how we’re wired to respond to urgency, pressure, and even shiny marketing tactics, and how those biases can lead us straight into the wrong property decisions (even when we think we’re being smart about it). We get into pain points like home bias, dopamine hits, and the big one: why losing money on property feels so personal, because for many of us, it is.

There’s so much in here for buyers, sellers, and anyone trying to make sense of today’s market. If you’ve ever wondered why the numbers don’t always add up to the decisions people make, this episode explains a lot.

Episode Highlights:

00:00 - Introduction

01:06 - Who is Evan Lucas?

02:44 - Why Australians are so obsessed with property

06:07 - The real consequences of a property-driven culture

09:17 - Why does behavioural economics matter so much when you’re investing?

13:31 - When did Evan realise behaviour was driving investment outcomes 

22:38 - The behavioural biases that quietly sabotage property buyers

29:31 - The big differences in beliefs and behaviours around property across generations

34:38 - Why housing has become a generational and cultural tug-of-war

38:28 - What COVID changed and what it didn’t

42:29 - Will the regional shift last now that offices are calling people back?

46:29 - Work-life tug-of-war: Who’s really in control now?

51:13 - Evan's thoughts on allowing first home buyers to access their super

57:12 - What Evan thinks about value and what it really means in the context of property

1:03:16 - Evan Lucas’ property dumbo

About Our Guest:

Evan Lucas is a leading behavioural economist, author, and financial commentator known for making complex money matters relatable and human. With a background in global finance and a passion for understanding how emotions and biases shape financial decisions, Evan helps Australians rethink the way they engage with money, investing, and property. He regularly appears in national media and is the author of Mind Over Money, where he explores why logic often takes a back seat when it comes to personal finance.

Connect with Evan Lucas:

• LinkedIn https://au.linkedin.com/in/evan-lucas-44a25316
• Website https://evanlucas.com.au/
• Listen to Evan’s podcast https://podcasts.apple.com/au/podcast/exchanges-with-evan-lucas/id1796919532

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast [email protected]
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.alcove.au
• Work with Chris: [email protected]

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.

Lately, it feels like everyone’s saying Australia is just a few steps behind the U.S. when it comes to real estate; especially with buyer’s agents. But I’ve always wondered… is that actually a good thing?

In this episode, we're joined again by David Sidoni, host of the How to Buy a Home podcast, and we pull back the curtain on how real estate really works in the U.S. We talk about agent commissions, who pays who, what the buyer’s agent actually does, and how a recent $5 billion lawsuit is turning the whole system on its head.

David explains why the traditional model of sellers paying both agents’ fees is being challenged, and what that means now that buyers might have to start footing the bill themselves. We also get into the wild west of agent licensing, what it takes (or doesn’t take) to become an agent in the States, and how portals like Zillow are trying to grab their piece of the pie, often at the buyer’s expense.

It’s a fascinating look at a system that’s often pitched to us as “better,” when in reality… it’s a bit of a mess. If you’ve ever been told that Australia should follow the U.S. model, this conversation might have you rethinking that entirely.

Episode Highlights:

00:00 - Introduction

01:13 - Who is David Sidoni?

02:00 - The basics: How real estate deals actually work in the U.S.

05:37 - Do you really need a buyer’s agent in America?

06:51 - Can one agent represent both buyer and seller?

07:37 - If you skip a buyer’s agent, should you get a discount?

10:01 - Are buyer’s agents steering clients based on commission?

14:05 - Are buyer’s agents advocates or just dealmakers?

16:14 - Why are there so many real estate agents in the U.S.?

19:16 - Are U.S. buyer’s agents door openers or true advisors?

22:26 - Zillow exposed: Are you really talking to the right agent?

23:55 - How to find a genuine buyer’s agent in a new city

24:03 - What’s the difference between a listing agent and a buyer’s agent?

27:21 - The lawsuit that shook U.S. Real estate: What really happened

44:58 - How mortgage approvals and property valuations work in the U.S.

49:03 - Does America really do property auctions?

53:12 - Interest rates, refinancing, and the ‘locked-in’ homeowner crisis

58:05 - Are first-time buyers stuck on the first rung of the property ladder?

58:34 - David Sidoni's property dumbo

About Our Guest:

David Sidoni is a real estate expert and host of the How to Buy a Home podcast, where he helps first-time buyers navigate the confusing world of property with clear, practical advice. With nearly two decades of experience and over 1.7 million podcast downloads, David is known for breaking down complex real estate concepts and advocating for buyers who often feel overwhelmed or overlooked. His mission is to empower everyday people with the knowledge and confidence to make smart home-buying decisions without the industry jargon or pressure.

Connect with David Sidoni:

• LinkedIn https://www.linkedin.com/in/davidsidoni
• Instagram https://www.instagram.com/howtobuyahomepodcast/
• Website https://howtobuyahome.com/

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - [email protected]
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.alcove.au
• Work with Chris: [email protected]

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.

Buying a property is one of the biggest financial commitments most people will ever make, and yet, so many buyers are forced to make that decision with barely any reliable information about who’s building their home. In this episode, we sit down with Brad Walters from Equifax to unpack the trust crisis in the Australian construction industry, and more importantly, what’s being done to fix it.

We talk about the lack of transparency in building quality, the rise in insolvencies, and those so-called phoenix companies that keep reappearing under new names. Brad walks us through iCIRT, a national rating system designed to help buyers, insurers, and lenders assess the trustworthiness of builders and developers. It’s based on six core criteria: everything from conduct and character to financial capacity; and honestly, as someone who’s big on due diligence, I found it incredibly encouraging to know this kind of tool exists.

What’s particularly eye-opening is that, according to the data, around 75% of the industry is actually doing the right thing. But it’s that 20 to 25% who cut corners, take shortcuts, or just don’t stick around when things go wrong, that’s where the damage happens. And unfortunately, they drag down the whole industry with them.

If you’re thinking about buying something off the plan, or even just a property built in the last decade, this conversation is a must. We dig into how iCIRT works, the limitations of current protections across different states, and the role of government in holding the industry to higher standards. Tune in and let's get started!

Episode Highlights:

00:00 - Introduction

01:08 - Who is Brad Walters?

02:14 - Understanding the iCIRT tool and why it matters

07:11 - Can buyers rely on builder info outside of NSW?

13:24 - How iCIRT gathers data you can trust

19:33 - Is the rating system voluntary? Who’s avoiding it?

25:12 - When things go wrong: Judging a builder by their response

30:14 - What’s behind the data? Gathering and verifying builder info

34:51 - Protecting yourself from builder insolvency

38:21 - Does more regulation mean higher construction costs?

41:44 - How new builders can still earn trust

45:14 - Is iCIRT a national standard or just a NSW initiative?

48:21 - Can iCIRT ratings actually help off-the-plan buyers?

49:43 - What about suppliers? Expanding accountability beyond builders

51:42 - Contract clauses that can give buyers more protection

52:34 - Beyond trust: What else needs fixing in construction?

55:32 - Brad Walters’ property dumbo

About Our Guest:

Brad Walters is the Head of Product and Rating Services at Equifax Australia, where he leads initiatives to enhance transparency and trust in the construction industry. He oversees the development of tools like the Independent Construction Industry Rating Tool (iCIRT), which assesses the reliability of builders and developers. Brad has advised major banks, insurers, corporations, and government departments on corporate strategy, finance, and risk management. He also serves as a board-appointed director for several Equifax-related entities, contributing to industry-wide innovation and improved business outcomes.

Connect with Brad Walters:

• LinkedIn https://au.linkedin.com/in/brad-walters-775b221
• Find trustworthy building professionals https://www.equifax.com.au/personal/products/iCIRT-ratings
• Get your iCIRT rating and report https://www.equifax.com.au/business-enterprise/products/icirt-construction-industry-ratings

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast [email protected]
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.alcove.au
• Work with Chris: [email protected]

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.

What role does property truly play in shaping Australia’s economic story? In today's episode, we sit down with Diana Mousina, Senior Economist at AMP, to unpack why property plays such a central role in Australia’s economic landscape. Diana brings a sharp, accessible take on the macro forces at play, both locally and globally, and helps us make sense of how the housing market ended up where it is today.

We explore the persistent housing undersupply across the country, how population growth and household formation trends feed into demand, and why supply still hasn’t kept pace. Diana talks us through the long-term structural issues: from planning and regulation to developer incentives, and explains why there’s no single lever that can fix affordability on its own.

We also touch on broader economic dynamics: what slower productivity growth means for Australia, how inflation is likely to behave in the coming years, and why the push for government intervention has fundamentally changed post-pandemic.

If you’ve been trying to make sense of property prices, population pressures, or policy decisions and how they all connect, this conversation offers clarity and context. It’s a grounded look at what’s really driving the housing market and what might shape its future, so tune in and let's get started!

Episode Highlights:

00:00 - Welcome

00:57 - Who is Diana Mousina?

01:34 - Why Diana’s economic content resonates

02:43 - Will the Trump administration really impact the Australian property market?

04:52 - What’s behind the housing supply crisis?

06:20 - The demand dilemma and oversupply myth

10:49 - What’s the economic fallout of Australia's housing problem?

14:24 - How instrumental is Victoria’s oversupply to their current state of affairs?

16:13 - When is it useful to consider Australia as one market versus dozens?

18:11 - Can we just cut migration to fix the housing problem?

21:09 - Why does Australia obsess over economic growth? Is it really that necessary?

27:03 -  Australia’s long-term economic outlook

30:01 - Do you think recession is a real risk for Australia?

32:19 - What’s really happening with inflation?

37:05 - Has the post-pandemic economy outgrown old benchmarks like the RBA's inflation target?

39:12 - Will the upcoming election shift housing policy?

41:21 - Diana Mousina’s property dumbo

About Our Guest:

Diana Mousina is the Deputy Chief Economist at AMP, where she leads macroeconomic research and market analysis to guide investment strategy. With a Bachelor of Commerce and a Master of Finance from the University of New South Wales, she brings over a decade of experience in economic forecasting, funds management, and public commentary. Diana is known for her clear, engaging approach to complex topics, often using pop culture references and social media—especially TikTok and LinkedIn—to make economics accessible and relatable. Her work has made her a recognizable voice in Australia’s economic landscape, particularly around housing, inflation, and policy trends.

Connect with Diana Mousina:

• LinkedIn https://www.linkedin.com/in/diana-mousina-5a22442b/?originalSubdomain=au

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast [email protected]
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.alcove.au
• Work with Chris: [email protected]

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.