Property Hub - Investment Insights & Inspiration - Realty Talk: “BIG Opportunity For Investors” - Ryder

Episode Date: March 2, 2024

Terry Ryder makes a bold prediction about the landscape for property investment this year and he backs it up with his Hotspotting metrics.  Hear Terry share his thoughts with Bushy Martin this week.�� Also, Melinda Jennison from Brisbane Buyers Agency - Streamline - shares her thoughts on the market.  Melinda - by the way - is the new president of the Real Estate Buyers Association of Australia so her thoughts will be gold. NEW – join our Facebook group, The Property Hub Collective: https://www.facebook.com/groups/1857513011165686 Join the Property Hub community on Substack! Sign up to get Australian property news, opinion, and episodes in your inbox: https://propertyhubau.substack.com/ Subscribe to RealtyTalk on the Property Hub channel: Apple Podcasts | Spotify | Google Podcasts | Email Property Hub is a collaboration between Bushy Martin from KnowHow Property, Kevin Turner from Realty, Andrew Montesi from Apiro Marketing and Apiro Media, and Australia’s largest independent podcast network DM Media. Business and partnership enquiries: [e-mail] omnystudio.com/listener for privacy information.

Hello once again and welcome to this week's Realty Talk show. Well, following on from our last show where we introduced Bricks and Mortar Media's 2024 Property Market Report, Terry Ryder has been featured in the report with his forecast for this year. We talked to Terry about his predictions. Also this week, Melinda Jennison from Brisbane Buyers Agency Streamline shares her thoughts on the market. Melinda, by the way, is the new president of the Real Estate Buyers Association of Australia.

So her thoughts are going to be gold. Bushy and Melinda will kick off this week's show in just a moment. Hi, if this is your first time with us, welcome. You're going to find us on all podcast players and through the Southern Cross Austereo Network. If you like the show, please hit the subscribe button and help us to continue to bring you the best guests every week. You can join the conversation too anytime on Facebook at The Property Hub Collective. We'll be back in just a moment as Bushy kicks off this week's show. Australia-wide. BMT guarantee to find double your fee in the first full financial year deductions. Call BMT on 1300 728 726 today for an obligation free quote.

Realty Talk and your host Bushy Martin. Now at the forefront of protecting the interests of property buyers nationally and increasing the professionalism and standards of buyers across the country is REVA, the Real Estate Buyers Association of Australia. And the president, Melinda Jennison, is also the co-founder of award-winning Brisbane Buyers Agency Streamlined Property Buyers, joins us again to share her insights from the latest BMM property market report on what's in store at 24. So welcome back to Realty Talk, Melinda. Thanks for having me, Bushy. I'm glad to be back and look forward to having the chat today. Absolutely. I really enjoyed your contribution to the recent BMM report. But before we sort of jump into the year ahead, I'd love to sort of step back a year and look at how did property perform against your expectations last year and what, if anything, varied and why?

It's a really good question. And I think, you know, just for some context, I'm actually based in Brisbane. So a lot of my observations will be based on what we're seeing throughout southeast Queensland. But of course, in my role as the president of Rebar, it's very important that I understand what's happening at a national perspective as well. And I think as we headed into the early months of 2023, there was generally a lot of what I would describe as doom and gloom. And I think largely it was driven by a lack of buyer confidence more than anything else.

So what we found was there was a lot of pent up demand, but it was all sitting in the sidelines And people were waiting for something that was more positive around the sentiment. And I think that came when we saw rates pause. Of course, we come off the back of a very aggressive interest rate hike cycle. So people had lost a lot of confidence. Costs were increasing. Inflation was high. But the turning point across a lot of the markets was when consumer confidence started to improve.

and that aligned with when interest rates went on pause. Certainly throughout the latter months of 2023 in some markets we saw that demand outstripped supply and that was more so in markets where we saw supply remain at or below long-term averages whereas other markets we started to see listing volumes increase throughout the second half of 2023 and of course that gives buyers a little bit more choice and it slows down that rate of growth because there's more balance between the properties that are available for sale and the buyers that are in the market to transact so i think a bit of a mixed bag um throughout 2023 and it was very market specific but it ended up being a lot more positive towards the the end of the year than what we were probably

expecting at the beginning yeah good call and i think you hit the nail on the head it was very much a supply story last year and those that had plenty of listings struggled a bit more than those that had limited listings and therefore there was stronger demand. So stepping now into the future then, Melinda, what's your overall view on how property is going to perform in 2024, both at the national level wearing your Reva hat as well as the Brisbane level given streamlined expertise in that market? I definitely think there's going to be more optimism in the market

and I think we've already seen that in the first few weeks coming into 2024 for because the story has changed, the headlines have changed and we're now starting to see the fact that buyers are becoming more confident through buyer volume on the ground and I think again that's driven by commentary around the fact that interest rates are at their peak and in fact more likely to come down and that's off the back of some positive news on inflation also coming down. Now it's incredible how much buyer confidence can impact on a market and you know some of that media messaging can really have a positive impact on on the demand side when we look at the supply side however i absolutely think that there's going to be some markets that will

be more constrained um moving into 24 2024 compared with other markets and we've seen that at a national level um throughout the latter months of 2023 so the markets of perth adelaide and brisbane as an example, are still providing or are still markets where we've got listing volumes that are between 30% and 40% below our long-term average. Now, when you combine that with a market that is a more affordable market, which these markets also represent, and also the overarching improvement in buyer confidence, which happens across all markets, it really does put price pressure on in those markets when there's more buyers than sellers it creates competition you've got less dilution so ultimately that's going to lead to higher prices being paid and of course

some of the larger markets and that includes Sydney Melbourne but also some capital cities such as Tasmania and Canberra where we've seen prices or price growth stagnate a lot of that is because supply has returned to long-term averages or more in line with long-term averages and buyers have more choice, so there's less urgency in the market. And we saw that come through in the latter months of 2023 when the rate of price growth in those markets

started to rapidly decline, or in fact, we started to see those markets stabilise on a month-by-month basis. Yeah, extremely well said. And it's clear the supply and the affordability exercises at ballast against demand and the sentiment factors having variable impacts are there any other key drivers that we need to watch out for that are likely to influence properties direction this year i do think that the proposed cuts in income taxes will have an impact of course any

individual that improves or increases their take-home income that can have an impact on the amount that they can borrow and of course that that rolls through to affordability um of course there is the conversation around interest rates and every time interest rates are you know come down that obviously also improves sentiment but it also improves affordability so you know again that can be a catalyst for improving demand across all markets around australia but you know i don't think it's all you know rosy i think we've definitely got headwinds that we're still up against. There is still international tension in some parts of the world. Any change or significant shift in that can obviously really impact on consumer confidence,

but it can also have other run-on effects like we saw post-COVID with the spike in inflation and the consequential increase in construction costs. That all plays out and can impact on demand and it can also impact on supply for new dwellings in a market over the long term as well. So international tensions, that's definitely something to watch out for as well. So markets where we've got strong economies, they're going to continue to provide a level of risk aversion throughout markets around Australia. But we've also got markets where there's a lot of infrastructure being spent where governments are pulling forward a lot of projects as well that creates jobs generally across most markets people are fairly confident we're not

losing jobs in fact unemployment is still very low so that's all positive and that all supports that continued demand across Australia as well so there's definitely some headwinds but I definitely think at this stage there's more optimism and more positive things to come yeah extremely well said and as we know that there's more dynamics and combinations in property than there is a rubix cube uh melinda in my experience but it's the fundamentals we need to focus on to ignore some of the noise so a very positive picture emerging what are some of the important areas and sectors both good and all bad, that we need to watch out for then this year? Look, I think that we're starting to see already throughout the latter months of 2023,

this emerged. Affordability does actually become an issue for many buyers when they're looking to purchase, whether they're home buyers or investors, even first home buyers getting into the market. So when we're seeing prices escalate rapidly, there's going to be a limit upon which people you know can transact there's going to be people are going to reach capacity so I don't think we're going to see prices grow equally across all regions and even when we're looking at for example a capital city market that might have great fundamentals I certainly don't think we're going to see uniform growth across all parts of that market so people really have to consider

where in these locations people have the capacity to continue to pay more for property but we can't underestimate the the story around the rental prices if that's what you want to call it not only do we have a situation in many markets where there's not a lot to buy but in some of those same markets we've got very very little to rent and in fact that's a trend that is Australia wide so when we've got very little to rent and also very little to buy you know it creates a situation where tenants are trying to get out of market as a tenant and get into the market as a home buyer. Home buyers that are wanting to upgrade need to do that in a way that's efficient without having to rely on renting for six months. So it causes a bit of a backlog in the entire

market. So people, I know in the work that we do, we're looking for creative solutions to help people make that transition more smoothly to ensure that they're not having to rely on accommodation that's really hard to find at the moment. So I think that 2024 will be really interesting because all of the decisions in the past that have led to our current situation have made it really tough, really tough for tenants, really tough for property buyers, but also tough for those looking to downsize or upsize because there's a lot of obstacles in the way. It's not easy for people to do that at the moment and it's also very expensive for people to do that and that's potentially why people are sitting on their hand they're not transacting and um you know it's

a bit of a standoff between you know those that are wanting to sell but ultimately um there's nothing to buy or there's nothing to rent so they hold off on that decision i think you've made some really good points there which again taking a helicopter viewable and it's actually pointing in the right direction in terms of price growth because wherever you've got scarcity then as you and i know that puts pressure on the right areas but i i think the the other key here in what i'm reading between the lines is i think we're actually seeing yeah probably conditions return to what i would more classify as a long-term normal where from once over to the next you're going to get variable conditions and in different parts of the cycle and you know right down to the precinct

level which is exactly how properties operated long term so I think it means that people are going to have to look a bit harder to look at the right drivers they're going to give them ongoing growth if they've got the affordable ability to get in but it's a very positive size and and the real need for people to be very diligent about what they buy where in the in the coming months so word that's some some great thoughts there you've touched on some of these already are there any uh other surprising end or wild card elements that may have a lasting impact on property generally and and given your expertise on the Brisbane market in particular look I always think that people must be aware of where the future supply pockets are coming and

when I talk about that I mean new supply and um specifically speaking to Brisbane Brisbane's such a low density city comparatively speaking when we sit it next to the likes of Sydney and Melbourne so there is a lot of land in Brisbane that may already be zoned for much higher density development buyers have to be aware of where that is located and what that future supply pipeline might look like but more so than that even getting an understanding of what is the state government planning where are they planning to accommodate this increasing population that continues to migrate to southeast Queensland. I mean, we've got overseas migration, but we've also got interstate migrants. We have to house these people. So not just understanding what's already

in place, but also what government strategically is planning and where that future land is likely to be released for freestanding homes, but also that higher density land, which is likely to come from those locations which are more closely located to the CBD but in areas around some of the business hubs. So of course that the level of expertise that people get when they partner with professionals because that can have a huge impact on long-term returns when it comes to property because it's all about the balance between supply and demand and when we know that there's going to be future supply coming we really have to account for that whether that supply comes next year or in the next 10 years that becomes irrelevant because in most cases property investing

is a long-term strategy and people need to think beyond next year or next month they've got to think about the the 15 20 or 30 year time frame absolutely you make a really good point i've often said that when you're buying property you've got to put on your uh forward and vision 3d glasses to be able to assess what is this area and it's probably going to look like given everything else that's likely to happen over that 10 to 15 year period don't judge it on where it is right here right now so when the only way to do that is as you say is to seek good independent professional help from professionals who are doing this each and every day of the week so excuse me so uh to bring this all to a head then uh belinda that to sort of sum things up

what one word do you think is going to best describe and capture property conditions for 2024 the word i'd choose is buoyant if i was to choose one word because we are already seeing the market start to sizzle um on the ground in brisbane we're seeing buyers back we're seeing line up. We're seeing multiple registered bidders at auction and we are seeing multiple offers on a lot of private treaty sales. Now, that is not the case. As I pointed out earlier, it's not going to be the case across all types of properties or in all areas of the city, but it's certainly what we're seeing in pockets that our team are really active in. But we're specific about what we're buying and where we're buying. So, I think if you're looking at property as a property buyer

and there is a lack of demand from other buyers that's where sometimes you need to pull the brake on and ask why is that the case because if you have the opportunity to buy really cheaply because no one else is looking at that property is that the right type of property for your portfolio and I think a lot of investors think that buying cheaply is the strategy but in fact that can sent you back many years it's about buying quality and looking at the long-term drivers as to why that type of asset is going to remain in demand not just today when you buy it but you know in the future as you hold that asset over many many years so I would say for buyers just a word of warning you know have a look at what the demand levels are in any property that you're considering

because if there's no other buyers that are looking at that property ask the question why extremely well said because it's never about cost it's always about value as i've i often say melinda so very wise words and i really want to thank you for these very sage thoughts and we hope that politicians and policymakers actually heed the message to actually urgently start incentivizing investors instead of continuing to drive them away and worsen the housing dilemma in what i would call short-sighted moves that can only be classified as cutting off their property noses despite their housing faces so thanks for these insights that really sets us up for some buoyant conditions moving ahead and i really appreciate your time on the show today

thanks for having me again bushy it's been great to chat thank you melinda now if you want to get a full copy of bmm's 2024 property market report that includes forecasts in detail from melinda and a host of other property professional wedding lights just click on the link in the show notes and if you want to further the discussion and keep it going on this and other areas around what's going to happen in property in 2024, join us for more on the Property Hub Collective Facebook community again by clicking in the link below. So that's more food for thought and stay with us for more. Successful property investment is a game of finance. Do you have the right team and the right game plan? Realty Talk is brought to you by Know How Property. More than mortgage

brokers bushy martin and his team of investment architects set you up with a sustainable strategy structured to lower your costs tax risk and stress while increasing your capacity for growth know how has helped over 1900 homeowners and investors secure more than 800 million dollars in property wealth so get set to live more work less and live your legacy want to know how to invest in your freedom visit knowhowproperty.com.au realty talk exclusive to the property hub now this time last year very few were predicting that property prices would continue to rise across the country with the exception of our next special guest who's recently outlined his forecast for the year ahead in Brits and Mortar Media's 2024 Property Market Report and he's always important

to listen to. I'm talking of course about show favourite Terry Ryder who's a leading property industry researcher and writer who's been studying residential property now for over 35 years. He's published four books on the subject and he's the founder of well-respected property research house hotspotting.com.au. So if you're serious about property and the ability to identify the best opportunities in the year ahead he can't afford to miss his musings so welcome back to Realty Talk Terry. Always good to talk to you Bushy and always good to talk about real estate particularly you know you've laid the background by referring to you know the misinformation in the media which is where a lot of people get their information and you and I spend a lot of time and

energy trying to balance that with fact-based research-based information. Yeah absolutely and And it's the reason why, apart from your great sense of humour, that I love catching up with you, mate. But I guess just sort of starting there, from your perspective, how did property perform against your expectations last year? And what, if anything, varied or why? Look, it was pretty much on along with our expectations, which were very different to the forecasts of the big economists,

the ones who are always in the media, the ones who don't understand real estate, but media keeps going back to them because they love a screaming negative look um i think the difference is we're full-time real estate recently we're living and breathing at 24 7 i think the big bank economists they turn their attention to residential property only so often they have their theories about how it works it's all about interest rates and of course what 2023 proves is it simply isn't because if they were right prices would have fallen last year and they predicted they would fall a lot 15 20 most

of them said we said no we we expected moderate to strong growth and that's what we got yeah and only only a few of the specialist uh real estate researchers like ourselves got that right yeah absolutely spot on well uh that's a great segue into uh the year ahead so what's your market forecast of 2024 and i'd like to sort of jump into areas that are like rising steady weakening and struggling terry so let's let's start with areas that you think are likely to be rising what does that look like yeah and it's important to make that point that we don't have one property market in australia and um we have as we saw in 2023 not everywhere had a good year last year some better than others um and um originally i thought 2024 is going to be very

similar to 2023 is probably going to be about the same because the the forces that created the year we saw last year are still very much in play which is all about shortage a strong population growth against a lack of supply but i'm starting increasingly to think actually we're going to have a better year in 2024 generally speaking than last year because we've got additional factors um we're clearly at the end of the interest rate cycle and everyone's expectations the next move is down we've got tax cuts coming so we've got some reason for people to be more optimistic and we've seen actually people hit the ground running at the start of 2024 our business and others have found a really fast start to the year people have started the year with intent

now the places that we think are going to do better than average this year under our metrics would be Brisbane and regional Queensland definitely. Adelaide has been so consistently good for a number of years we think it's going to continue. Regional Western Australia is going to be pretty good. Second half of last year we saw Sydney and Melbourne come strong. Melbourne hasn't yet turned that into strong price growth like Sydney did last year but we think Melbourne is going to be better this year. So there's going to be a lot of places that are going to do pretty well in 2024 um the places that are going to be the exceptions the weakest markets are going to be canberra and darwin yeah and um sort of coincidence they also have the

weakest economies in the country um because there is a a relationship there hobart and regional tasmania are probably going to be fairly mediocre as well yeah yeah around the country going to be pretty well this year yeah it's good are there any sort of weakening markets that are sort of coming off off peaks as you read it looking around the country yes indeed um well i do want to talk about perth um perth has been one of the leaders depending on his figures you believe it has been the number one or number two uh last year for property price growth and and this is a piling into that market and we're starting to get really concerned about um the way people are buying they're grabbing anything they can in any location at any price under the theory

that um anything they grab in perth will make them money but what they need to understand is that you've still got to do your due diligence and make sure you're picking the right property in the right location playing the right price because bertha's been growing strongly for three years and we're starting to see indication that it's reached its peak or past its peak the sales volume figures started were beginning to fall away towards the end of last year the first sign the peak has been reached and after three years we would expect that anyway yep um so i i'm really think feel that um investors should maybe stay away from the perth market it's difficult to buy sensibly their properties are still selling very quickly um people are throwing um you know

the asking price might be 500 000 ends up selling for 600 000 um yeah it's starting to look a bit Yeah, but when we say Perth then, just sort of trying to put some shape around the net here, does that include areas like Mandurah and maybe as far down as Bunbury south of Perth? Or where are we talking there? Does it sort of apply to all that? We're talking about greater Perth and we tend to regard Mandurah as regional. It's just outside the greater Perth area. But, you know, it's debatable.

We still think, you know, Mandurah's got prospects because it's still very affordable and it's got a wonderful lifestyle location, well-connected to central Perth, but still in a pretty runny cheek, really. Bunree is further on. It's definitely regional.

It's a regional city in its own right and it's going very strongly. The other one in Western Australia we like is Geraldton, north of Perth, about four hours north, and it's very, very affordable with great rental yields and good prospects for growth.

So we're starting to see this to people. Maybe look at some of these regional markets. If you're interested in Western Australia, avoid the frenzy in Perth and go to some of these places like Geraldton where maybe you can buy a little bit more sensibly as well as affordably. Yeah, very good tips.

So apart from the area exercise, let's move into the sectors to watch this year. Terry, what's your thoughts around that? Look, the one that really stands out for us is is apartments units and townhouses uh like it's we we feel that the dominant paradigm in real estate is really being challenged and changing and the dominant paradigm is that houses always show better capital growth in in units and we're seeing that change we're seeing more and more examples locations suburbs and towns where whether you look long term or short term

the capital growth performance of units are outperforming houses more and more and a lot people would be surprised to hear that because you know everyone's got it fixed in their brain that you're going to buy a house because it's the land content you know land appreciates dwelling depreciates i don't think that applies so much anymore because there are so many reasons why more and more cohorts are opting for apartments it's about lifestyle it's about location it's about affordability it's about lock up and leave low maintenance lifestyle people downsizing young people starting out they want to spend their weekends mowing lawns and all that there's lots of reasons why more and more people opting for apartments and we're seeing it we're seeing that

um some of the busiest markets in the country are the ones where there's lots of apartments and um we're starting to see outperformance on price more and more yeah very interesting and and i really want to thank you for sharing that because uh it is an area that is you know people that it's stuck in the in the old you've got to buy a house or a block of bird in a scarce suburb routine and you know to a certain degree i'm falling into that category yet a fair bit over the years but but the numbers do the talking so where and i want to get you back on the show where as soon as you're able and we'll do a deep dive on that that very subject itself because i think with the amount of you know qualitative and quality research that uh hot spotting does

you'll be able to share some numbers that will really validate the fact that there is a shift in that regard and that that that opens up a new world of opportunity from an investment perspective so that's awesome now you've touched on a fair bit of this already Terry in terms of the key drivers that we need to be watching out for in the year ahead or are there any of those that we haven't touched that you want to expand on? I think we've touched on most and we've talked about the expectation of what the market's going to do we've actually had a bit of a warning that the perth frenzy has got a bit dangerous and silly and maybe you'd better decide because there's so many other good places to buy in australia you don't need to take that kind of

risk um where you're going to buy in haste and repent at leisure um so that's and we've talked about the like i think that the learning is that a lot of people have fixed ideas about what works in real estate and what we believe is that things are always changing and what we're looking for is the change and trying to be the first one of the first to identify the change and this this shift to apartments is is a paradigm shift that's really important this is that the tree and dust a number of years ago people moving to the regions well before covid it wasn't was by covid as me told us it was and it's still happening you know that that that was a paradigm shift because because for as long as i've been around the population drift has been to the cities now we're seeing

it reverse because people are looking for lifestyle because they don't have to be in the big cities anymore because of technology well you're you and i are living examples of that terry that's right i mean i mean i can be anywhere doing what i do and you can and so we're doing it um you know we're living our version of the dream and i was talking to a guy who runs a very successful quite large um buyers advocacy business which everyone thinks is based in sydney well they're in asia um they're in a particular lifestyle of asia where they're living full-time and running their business from there because they don't need to actually be physically in sydney or run that business um yeah i love it i love it yeah so we are seeing some really big paradigm

shifts and people need to be aware of them if you want to do really well don't be stuck on the old ideas it's got to be a house on land close to the cbd um you know be aware that things do change and some of these changes are big yeah it's uh as you as you well pointed out where there's change there's always opportunity yeah and those who recognize that early enough and that then ride the wave of those who jump on and and you were i think the first to talk about the access to lifestyle and the ship to regional we've been talking for quite some years now i remember you mentioning a long time ago uh so my ears picked up when you started talking about apartments and that that's something that we'll we'll delve into are that are there any wild card elements that

that may surface this year that might have an impact on property conditions that you see look i'm not expecting any major surprises um i think it's it seems to me fairly clear the influences are going to play out this year it's going to be about um no more interest rate rises although the impact of interest rate rising has clearly been overrated by economists and the media yeah uh it's um the impact of um you know tax cuts it hasn't been talked about much as an impact on real estate markets but it means that um people have more money in their pockets they'll have stronger sentiment but their borrowing capacity will increase um because they'll have um just just the way the equations works in the mind of financiers so that will have an impact that

downright um and that's one of the reasons why i'm starting to think that actually 2024 is going to be even better than 2023 which i was sort of like seven or eight percent growth as an average across the country which is a i'm moderately strong here that's good let's do better well i think the yeah And talking about the tax cut regime, yes, everyone's going to have a bit more money in the hand, which will increase capacity and potentially demand. But I think the interesting thing that hasn't really been delved into yet, and I've sort of started to look at this, for those higher income earners who are expecting a much more healthy tax return and aren't going to get it, it's probably going to be more incentive for them to be investing in assets like property where they can still keep more of their hard earned in their pocket rather than giving

it to the tax office. So I think there's a dual pronged impact across the border systems, but also those who have the most capacity and probably I think it's going to look more attractive as a result of those adjustments to the tax scale. So I'm with you. I think we're in for a better year as a consequence of that when you tip in the impacts of potentially dropping rates, the scarcity of listings and supply, and there's still a very strong population and exercise happening in behind all this. The rental crisis that everyone keeps talking about and has been a long time in the making and it's not going to go away anytime soon is a firsthand indicator of how tight the rental markets are, which is a very fertile ground for investors. So, look, I always love talking to you, mate.

If we were to sum up in one word what you think is going to best describe and capture property conditions in 2024, what would that be? It would be opportunity. And you've just actually articulated some examples of that. There's always opportunities to be found at any time in real estate. But I think right now the opportunity is big for investors. As you've just described, we have the shortage. There are no solutions in sight. the solutions exist but of course the politicians aren't smart enough to see them or don't have the

the political will to implement them they just need to encourage people to become property investors that's all that's all they need to do and they're doing the opposite so for those people who do have the ability to think and act independently as investors not be herd animals with massive opportunities because we have such a shortage we've got rents rising we've got strong yields and interest rates are probably going to come down so the equation is going to get better this year all that means opportunity absolutely opportunity is a a great way to sum her up so i really want to thank you again for these very evidence-backed insights terry's as always and it's it's really clear that the housing shortages are again likely to underpin rental

and sales markets this year but i from my perspective a bit of a welcome return really to a more pre-pandemic normal if there even is such a thing these days where state-based performances are likely to differ again depending on local economic factors so and for those who want to find out more make sure you grab yourself a copy of the bmm 2024 property market forecast report by clicking the link in the show notes and if you want to take things to the next level make sure you're helping yourself to make much better informed property decisions by reaching out to Terry and the team at hotspotting.com.au. So thanks again for your time on the show today, Terry. Thanks, Bushy. Hi, just before we go back to the show, I want to spend a few seconds and

tell you about a book that was sent to me that's now become my go-to reference when I'm looking for inspiration about property investment. You know, sometimes it's not about knowing all the answers. It's certainly more important to know what questions to ask. This book by Rasti is called The Property Wealth Blueprint, and it's one that you don't read just once and then put it away. It stays out as a reference. It's a book that you go back to time and time again, as I do, because it's packed with personal experience and with great examples of how to get property investment right. It's very frank. It's to the point. And as you can see here, I've needed to bookmark several points. And I can tell you that it's a constant companion on my desk here.

The remarkable thing is that it's absolutely free on Rasty's website, getrare.com.au. Get Rare. It's a gateway to a richer life. The website there for you again, GetRare.com.au So get this book, get it for yourself. This is Realty Talk, powered by Realty.com.au And that brings us to the end of this week's show. A big thanks to Bushy and his guests, Terry Ryder and Belinda Jennison. Make sure you don't miss a single episode of Realty Talk

or Bushy's Get Invested podcast, which will be delivered to you each week. You can do that by subscribing to The Property Hub now on your favourite podcast player or wherever you are listening to or watching this show. Also, join the conversation anytime on Facebook at The Property Hub Collective. Thanks to our supporters and content partners, Realty, BMT Tax Depreciation, Know How Property Finance, Get Rare Property and DePiro Marketing. I'm Kevin Turner and on behalf of Bushy and The Property Hub team, we look forward to seeing you again next week. Thanks for watching!