Powered by MOMENTUM MEDIA
realestatebusiness logo
Powered by MOMENTUM MEDIA
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

news image

Belle Property announces new arrival

May 25, 2020Cameron Micallef

A top 20 agent is moving to Belle Property’s Mosman office, according to an official statement. ...

REB_top100agents
top 10 agents

1

Alexander Phillips

Year of Experience: 20

Support Staff: 3

Residential Properties Sold: 215

Total Value of Residential Properties Sold:

$ 522,477,791

VIEW COMPLETE REPORT

Have you experienced sexual harassment or bullying in the workplace?

Yes, I've been the victim of sexual harassment (15.8%)
Yes, I've been the victim of workplace bullying (21.1%)
No (63.2%)

Total votes: 19
The voting for this poll has ended on: April 30, 2020
TECH MARKETING SALES BETTER BUSINESS PROPERTY MANAGEMENT
Neville Pozzi reb REIWA rolls out new ‘digital doorknock’ strate ...

The Real Estate Institute of Western Australia’s longstanding partnership with The Salvation Army is seeing the real e ...

Property technology app smartphone reb App aims to kickstart the real estate market

As the real estate industry continues to adjust to the new norms brought about by the COVID-19 pandemic, an app develop ...

Kul Singh reb New integration to provide better buyer experience

Openn Negotiation has confirmed a new integration with realestate.com.au which aims to provide a better experience for b ...

REA Group HQ office reb REA Group to take Prop20 digital

REA Group has confirmed its Prop20 series will be transformed into a digital experience. ...

Michael Johnson WEB How COVID-19 has been impacting real estate agents ...

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting t ...

Tom Panos 140520 What’s Making Headlines – 14 May 2020

What’s Making Headlines is your new source for all the latest in Australian real estate news. ...

Heath Williams WEB Selling Brisbane’s most luxurious properties dur ...

After an initial lull, things have started ramping back up in the Brisbane property market, but Heath Williams, lead age ...

Michael Clarke WEB How the best agents are continuing to thrive throu ...

According to Clarke & Humel's Michael Clarke, the challenging nature of the COVID-19 real estate market is actually ...

Michael Johnson WEB How COVID-19 has been impacting real estate agents ...

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting t ...

Tom Panos 140520 What’s Making Headlines – 14 May 2020

What’s Making Headlines is your new source for all the latest in Australian real estate news. ...

Heath Williams WEB Selling Brisbane’s most luxurious properties dur ...

After an initial lull, things have started ramping back up in the Brisbane property market, but Heath Williams, lead age ...

Michael Clarke WEB How the best agents are continuing to thrive throu ...

According to Clarke & Humel's Michael Clarke, the challenging nature of the COVID-19 real estate market is actually ...

Positive Mindset in Business reb The impact of a positive mindset in the business o ...

Let’s be real: running a business or an office is stressful. Here’s a quick rundown of some insights on keeping yo ...

Cameron Black reb Lies and statistics: Has the property market actua ...

It seems like there has been a huge change of sentiment in the last month as a confluence of factors has come together t ...

short 850x400 june2019 How to get that big win

Getting a big win is more than just sales. It involves strategic planning and setting goals, according to real estate bu ...

MeganSmith 050719 cropped Ray White’s Megan Smith sells $14m property in B ...

Ray White Balmain sales dynamo Megan Smith has sold one of the most expensive houses in Australia this year, with the pr ...

home owners reb Home owners given stern warning on upcoming regula ...

Property managers in Victoria should advise caution to home owners, after a stern warning was issued about regulations s ...

Rolf Howard reb Will recent changes to tenancy laws tip the scales ...

The Australian rental market has long been considered by many commentators to favour the landlord over the tenant. Unlik ...

aerial properties new reb ‘Large discrepancy’: Average state loan v medi ...

New research has highlighted the “large discrepancy” between the average state loan and median house price in capita ...

Perth aerial new reb WA government rolls out new service to combat tena ...

The Western Australian government has launched a new service that aims to help tenants and landlords resolve COVID-19 t ...

EVENTS
REBAWARDS Listready
Real Estate Business Awards 2020

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

Learn more >
FROM THE WEB
Recommended by Spike Native Network

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of REB.

Read more
Do you have an industry update?
rpm logo latest

Aussie property market was never in doubt, says expert

02 June 2019 Sasha Karen

One high-profile buyer’s agent says the Australian property market is not in any danger of collapse, nor was it ever, despite significant uncertainty in the lead-up to the 2019 federal election.

Right Property Group’s Victor Kumar said the lead-up to the 2019 federal election saw property play a key role, prompting worry that negative gearing and capital gains tax changes might have driven substantial declines. 

But he said the market was never in any danger of reaching that point.

No chance of property Armageddon now

“There really is just the one fundamental that fully drives the property market, which is the availability of money. And [if] there isn’t liquid credit available, regardless of what fundamentals you have — whether it’s an oversupply, an undersupply, high yielding, massive infrastructure spend — if you can’t buy the property, its going to take a plunge,” Mr Kumar said.

Advertisement
Advertisement

As Australia has very liquid credit at the moment, property Armageddon is not likely to occur any time soon, Mr Kumar said.

Another factor that would contribute to a property Armageddon scenario would be an extremely large amount of an oversupply of properties, Mr Kumar said, and while there has been an excess of supply, it has not reached the levels necessary for large declines.

“We’ve got very strong fundamentals in our property market. We’ve got very strong fundamentals in our economy,” he said.

“We have one of the best economies available. Now, if you look at it from an inflation point of view, our inflation, whilst it is month-on-month on April was at zero, it isnt at a point where weve got runaway inflation.

“The last time we had a really major property decline, taking away the GFC, was in the [1988–89] market, which is the recession we had to have. And unemployment went into double digits at the time, and therefore, people lost the ability to hold onto property, they couldnt afford the loans because your interest rates started really tunnelling ahead and had several and immediate interest rate increases.”

Meanwhile, the opposite scenario is occurring at the moment, Mr Kumar said, where RBA governor Philip Lowe has flagged his intention to cut the interest rate sometime soon.

“So we’ve got all these factors that are pointing towards a property market thatll be a lot more buoyant rather than gluggy. Theres no doubt that the property market did reduce in its buoyancy because of the credit squeeze we had due to the APRA regulations,” he said.

“Weve got money thats been the cheapest its ever been since day dot, pretty much. And its likely that the cash rate will be reduced even more. Ive been investing for 20-off years, and I havent seen money this cheap for pretty much ever.”

While it may not be outnumbering or matching the oversupply, Australia’s solid population growth is yet another reason for Mr Kumar that the property market is not, or was not, in any danger of excessive declines.

“The population growth is increasing substantially because of one, the natural growth, but secondly, weve also got your migration, skilled migration that is certainly fuelling the demand, but it is highly unlikely that we will see any major declines in the property market,” he said.

No chance of property Armageddon before

Looking at the last four years, the government has spent billions of dollars on infrastructure, and plans to spend an extra $100 billion over the next 10 years, which for Mr Kumar is yet another factor that pointed to how Australia was never in fear of property Armageddon.

“If you look at Sydney, billions and billions of dollars being spent in terms of WestConnex, upgrade of hospitals, upgrade of freeways and all that sort of stuff, and weve got a new airport coming up,” he said.

“Look at Brisbane, same thing, weve got the harbourside development, weve got the rail network being worked on, and the airport being upgraded. You look at Melbourne, same thing, we got the rail network being upgraded, so that youve got the rail from the airport into the city, youve got a freeway upgraded, youve got the hospital upgrades happening in Melbourne as well, and these three markets are fairly big markets.

“Then you look at Perth, thats slowly starting to have a resurgence via the mining sector, and also, they have spent a huge amount of money in infrastructure to shore up the economy at the local economy there as well.”

Mr Kumar said that with the combination of these projects, and future projects to come, it would be “highly unlikely” that there will be a major slowdown in the property market, barring something unseen coming out of left field.

Aussie property market was never in doubt, says expert
aerial property reb
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of REB.

Read more
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.