Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

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

How Elon Musk’s Starlink is changing regional Australian real estate

By Juliet Helmke
29 April 2022 | 1 minute read
Phil Tarrant and Tom Panos

While everyone is watching to see how Elon Musk’s Twitter acquisition will impact the world of social media, Phil Tarrant and Tom Panos have tipped real estate professionals to keep a keen eye on how one of the billionaire’s ventures could change the property game.

Speaking on a recent episode of Real Estate Exposed, the Real Estate Gym founder and trainer and REB’s executive editor looked at how Starlink, a satellite internet constellation operated by Mr Musk’s SpaceX, could make regional Australian localities even more attractive in years to come.

Mr Tarrant opined that entrepreneurs who are aiming to shake up tech sectors are set to exert significant influence on how some of Australia’s markets perform in the future.

Advertisement
Advertisement

“One of the top five things that will shape real estate in Australia over the coming sort of three years is access to the internet,” Mr Tarrant predicted.

“People like Elon Musk, I believe, are going to have a fundamental impact on Australian property moving forward.

“Why, you ask. Well, he’s got this thing called Starlink, which is satellite internet. He’s got thousands of satellites whirling around the world he’s launching out of his SpaceX facility.”

Regional Australia, according to Mr Tarrant, has been embracing this new tech, even in its nascent stage.

“Once upon a time, up until now, at best, you had a shoddy satellite connection or some sort of a NBN service. At worst, you were operating on ADSL. And this was stifling people’s ability to work in these regional areas. The introduction of SpaceX’s Starlink — you’re getting download speeds up over 300 megabytes per second,” Mr Tarrant explained.

Mr Panos became aware of the tech’s utility during a recent trip to Byron Bay when locals commented that it had been a reliable source for the internet during the floods, even while NBN and 4G connections had been knocked out.

According to locals on the ground, the rates were even comparable to what they would be paying under different providers.

“Because of the floods and that Northern Rivers’ [internet] had been impacted, someone told me in Byron Bay, he said, ‘I know we’ve been using the Elon Musk one.’ I asked him,  ‘Is it expensive?’ He said, ‘No, about the same,’” Mr Panos reported.

The service was subsequently mobilised on a greater scale than it had been before to provide a crucial channel of communication for cut-off communities during the floods. Mr Musk has also sent Starlink terminals to Ukraine to assist during the country’s current, devastating conflict.

“It’s an absolute game changer,” Mr Tarrant remarked, noting that in Australia, regional areas are set to benefit most of all.

“This alone is going to change the ability for people to work on a more flexible basis.

“It will change real estate because the internet now is as important as power for the modern knowledge worker — or all workers. So if you’ve got [high-speed internet] and you’ve got control over it and stability, a lot more people are going to be looking at these lifestyle locations,” he said.

Mr Panos included himself in that cohort.

“That’s music to my ears. Because my business model now, apart from face-to-face auctions on a Saturday, if I’ve got just incredible wi-fi that allows video to be consumed at super fast speeds … I’ve got to tell you, I have every reason in the world not to be working out of Sydney,” he said.

How Elon Musk’s Starlink is changing regional Australian real estate
PT Tom Panos reb 1
lawyersweekly logo

Tags:

ABOUT THE AUTHOR


Juliet Helmke

Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to 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.