Property Hub - Investment Insights & Inspiration - Realty Talk: Future Property Hot Spots & Not Spots

Episode Date: September 2, 2022

Current news headlines are creating a false perception that property markets are crashing everywhere – but proven property analysts know that when the stampeding herd is fearful, the few smart contrarians get greedy!     To inform you on what is really happening with property conditions and to reveal where the best property opportunities are around the nation, Pete Wargent joins Bushy for a special feature show that unpacks the results of Buyers Buyers latest Investor Report. If you’re looking for all of the hot tips on what to buy and where in order to stay ahead of the pack, this show gives you all of the answers! RealtyTalk is part of the Property Hub podcast channel, your home for property investment insights, inspiration and stories from Australia’s top property experts, investors, leaders and analysts. Subscribe now to get every RealtyTalk episode delivered to you each week for free, and also get full access to Get Invested, the leading podcast for Australians who want to unlock their full ‘self, health and wealth’ potential and get inspired by the stories of investors, founders and entrepreneurs. 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.

Welcome to Realty Talk, the show that brings together the country's most authoritative and respected property experts. Follow us on all the socials and subscribe for updates and exclusive offers. Realty Talk is powered by realty.com.au, connecting buyers, sellers and agents differently. Greetings and welcome to Realty Talk, your trusted voice for all things property. I'm Bushy Martin from Know How Property Finance, and we've got another very special feature show for you again this week. Current nightly news headlines continue to create the false impression that property markets are crashing everywhere, but proven property analysts know

that when the stampeding herd are fearful, the few smart contrarians get greedy. Because it's never about when to buy property, it's always about where. So to inform you on what's really happening with property conditions and to reveal where the best property opportunities are around the nation moving forward, Pete Wargent joins us to unpack the results of Buyer's Buyer's latest annual investor report. So if you're looking for all of the hot tips on what to buy where in order to stay ahead of the pack, keep watching to get all the answers. And before we get into it, make sure that you stay on top of all the best property opportunities by jumping on channels.realty.com.au forward slash Realty Talk and hit the subscribe now

button so that you don't miss another episode and that you get every show in your inbox every week. And for making the effort, we'll give you a free copy of my award-winning book, Get Invested. We've got a treasure trove of property gold to share. So let's get on with the show. 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 KnowHow 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 world. 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. Greetings and welcome. Now, given the deluge of doom and gloom that's dominating mainstream media headlines on misleading stories claiming that rising interest rates are going to lead to a major property market crash, we thought it was timely to balance the fear fiction frenzy with some real facts. Because it's actually times like these, when you actually swim against the tide of popular but uneducated opinion, the greatest opportunities actually arrive. You see, it's never a question of when you should be buying or investing in property, because if you can, the best time is always now.

The real question needs to be where amongst the 10 million odd properties spread across more than 15,000 suburbs, captured in over 200 regions and about eight capital cities, is the best property to suit your strategy and your capacity. So to help you unpack what's really happening in property across the nation and where the best opportunities will be over the next year, we're joined by Realty Talk favourite and renowned property investor and analyst, Pete Wardgen, who's now actually spearheading the Buyers Buyers Group.

And they've just released their 2022-23 investor report that identifies the top suburb picks. So welcome back to the show, Pete. Pleasure. Thanks, Bushy. Always great to be on. Likewise, mate. Now, can you sort of kick things off by giving us a bit of an update on Buyers Buyers itself in terms of what it is, how you're different, what you actually do? How does and ultimately, how does this best position you to predict future property price movements and trends? We're a national marketplace or property marketplace for buyers agents. And so we offer fully independent advice.

So we've got no vested interest in where you should buy. We've got fully national coverage. We work with some of the best buyers agents in the business, every state and every territory, and we can cover all budgets and all briefs. So we also do property planning and strategy, and we come at it from a national perspective. So we don't focus on any particular state or any city.

We cover the full gamut. Yeah, no, it's certainly a unique platform in the space. And given you've got people on the ground, as well as that sort of central overview, it really does give buyers an opportunity to get the best of both worlds. So that's awesome, mate. Well, look, sort of start digging into it then

at a macro and mid-pro level, as I would call it. Where are property prices heading around the country in the short to medium term? And most importantly, why, as you read it? Yeah, so as you mentioned, the property market overall is in a downturn, far fewer transactions happening at the moment as compared to last year. A lot of consumers are worried about rising interest rates and there have been some price declines, particularly in Sydney and to some extent Melbourne. And it's being driven especially by what they call the top quartile of the market, so the premium end of the market. I think elsewhere price growth has been slowing and in some cases falling I think it's worth

remembering though that in 2021 capital city prices were up 24 percent so a slowdown is not unusual in that context and I think at the moment there's just a lot of caution around because a lot of borrowers have never seen an interest rate hike before particularly the younger ones and there's probably the prospect of more interest rate hikes to come over the rest of this year um so that's driving some price declines and especially at the top end of the market yeah and that's an important distinction because the old medium values sort of can paint a little bit of a misleading picture when there's actually opportunities amongst different price packets in different locations that that might sort of give a slightly different picture but tell me tell me

pete uh how are the supply and demand drivers looking in the foreseeable future and and what impacts is this going to have geographically, do you think? Well, on the demand side, we've been through a very unusual couple of years. I think unprecedented is an overused term, but it kind of is really. We've had border closures. We effectively had no immigration for a couple of years. In fact, we lost an awful lot of temporary visa holders, about half a million of them disappeared over the period uh looking forward though um population growth is going to go from a very low level effectively just the natural growth in the population now we've got the borders reopening there's a huge backlog of visa applications about 900 000 and over half a million of those are

people outside australia so you can expect to see population growth going back to around 350 000 maybe 400 000 by next year and so we've got the demand side picking up again on the supply side of the equation well we've had a record amount of detached house construction recently uh driven really by the home builder stimulus that the previous government put in place but now construction is starting to slow we're seeing a lot of insolvencies in the sector uh the cost of building houses up about 30 percent so we can expect to see the supply side of the equation slowing so there's lots happening that is sort of positive for the rental market there's just one factor that's pulling in the other direction and that's interest rates which is causing all of the caution

at the moment yeah now it's always interesting so in that context then pete you think that rising interest rates are going to have as much impact on softening property values as the hysterical headlines in the mainstream maybe you would like to have us believe uh in a word no i think if you if you actually look at what's happening with mortgage stress mortgage arrears most borrowers are coping pretty comfortably with interest rate hikes it's worth remembering that although the cash rate target went to zero for a short period of time it was only there really through the covid period as an exceptional circumstance it's quite normal to have interest rates um a bit higher than zero of course uh so look today there hasn't been much in the way of

actual stress um households built up about half a trillion dollars of savings through uh through the covid period most mortgages are ahead of schedule about 70 percent or so um there will be some impact no no question on the housing market but i think some of the sort of the hysterical headlines about massive price declines well we're not really seeing that at the moment in fact today across the market relatively modest downturn yeah and i agreed so do you think there's a direct correlation between interest rates and property values or are there other dynamic factors that collectively affect residential prices and if so what are some of these other key value drivers well every cycle is different i think um you know all things being

equal higher interest rates will reduce demand uh in the housing market but of course the reason interest rates are going up is because um demand in the economy has been so strong so um what that does reflect is we're starting to see incomes rising uh so nab's labor nab's quarterly survey showed labor costs surging so um households are earning more cost of building of course is going up the other thing that's really changing in the housing market for the first time in a long time we've got very tight rental markets. So rents are up at a double digit pace as well. So there's not a direct correlation between interest rates and property prices. I guess the one thing that is unusual is that this will be the fastest tightening cycle since 1994.

So in the short term, there's going to be a hit to confidence. But the terminal rate or the highest rate that the cash rate target will likely reach in this cycle will be about 3 percent. So it's still relatively low in historic and absolute terms. Yeah, totally agree. And the average retail rates, if you look at it over the last 40 years or so, has been around the 5% mark. So we're really just getting back to normal in that context. Now, that's been great, Pete.

Well, look, that really does put things in perspective. I now want to take a short break before we jump into where the property opportunities in the market are going to be. So stay with us for more here on Realty Talk. Property deductions can save you thousands of dollars each year. To make sure you maximise deductions, you need to work with the most experienced quantity surveyor in the country.

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Now, in continuing our great discussion with Pete Wardgen from Buyers Buyers, now that we've got a better sense of what's really happening in property around the country, we're now deep dive into Buyers Buyers Investor Report. It's going to reveal where the opportunities are around the country and why. So Pete, to kick things off there, what and where are the best places to buy property in today's market on a pretty much a state by state basis and as you're going through them I'd like you to sort of unpack what drivers are likely to influence each state and region in the short to medium term so let's kick off with New

South Wales if we can. Well I think if you start from the the top down but for a range of reasons property the market demand is being pushed down from the premium end of the market towards The more affordable parts of the country, there's a range of reasons for that. It's partly lower borrowing capacity. It's largely driven by risk appetite. So the premium end of the market tends to be what they call pro-cyclical. So it does really well in booms, but less well when there's a downturn. There's also changes to tax legislation, tenancy laws and so on. so if we start with New South Wales well from January 2023 there's going to be quite a big

change in New South Wales in terms of stamp duty reform we've been talking about this for years of course but finally it's coming into place for first home buyers so for first home buyers up to 1.5 million dollars they'll be able to opt to not pay stamp duty going forward so that's going to bring a lot of demand into that part of the market sub 1.5 million dollars um so if you look at um some of the locations that that will drive demand towards well houses in newcastle central coast woolengong not so much for houses in sydney because 1.5 million dollars of course in most of the parts of sydney these days you're talking about units um so look it depends really on your budget but there's certainly parts of the Hunter Valley, Central Coast, Newcastle and Lake Macquarie

that are well worth a look and also down towards the Shoalhaven and Illawarra. Yeah spot on so there's still a pretty strong drive in the near regions around Sydney that I guess following on from that exit as to lifestyle and the infrastructure and technology support that's going around that. But let's now sort of shift south to Victoria. And Victoria, again, has copped a bit of a flogging in the press of recent times, given drops in values or perceived drops in values, even before interest rates were starting to rise. What's your read on where the opportunities are going to be in Victoria? Yeah, it's interesting. If you look at the 10 years between censuses Melbourne was by far and away the fastest growing city in Australia it's

just for the past two years we've had very little immigration into Australia and interstate migration has been away from Victoria so particularly to southeast Queensland so there's been an unusual dynamic for a couple of years that's had an impact on the housing market in some parts of market um and again i think the the demand is being pushed particularly for houses just into some of those more affordable areas so a lot of people would be looking at um parts of west melbourne and lots of demands still in the more affordable suburbs of mornington as you well know and likewise geelong and but um typically in melbourne the best results over the past 10 or 15 years have been for houses much more so than for units i think um some counter cyclical

buyers are looking at particularly three bedroom units in parts of parts of melbourne uh but similar to new south wales really the demand has been pushed down a notch into some of those more affordable suburbs like sort of the werribees hoppers crossing and frankston and so on yeah Any of the sort of regional areas in and around Victoria that are likely to be opportunities as well, Pete? Yeah, and just as you mentioned, as for New South Wales, it's a very similar dynamic. I think in the era where people don't have to work in the CBD all of the time, then some of those what they call peri-urban locations like Ballarat and Bendigo, lots of demand for housing there. And, of course, sort of median house prices around the 700,000 level in some of those key suburbs, much more affordable than, say, for example, in inner Melbourne. So, likewise, Geelong and Mornington has been heaps of demand over the past couple of years.

Yeah, absolutely. Let's now sort of complete our run down the eastern states and jump into the Sunshine State. What's your read on where the opportunities might be in that location? Yeah, so as we mentioned, southeast Queensland has seen the fastest population growth in the country over the past couple of years. A lot of people moving up, particularly from Victoria, also from New South Wales, a lot of people in the tech sector who don't need to be in the office all of the time. so I would look if I was looking in Brisbane today I'd probably be focusing on some of those north side suburbs but ideally some of the more affordable ones like Zilmere for example where you've still got a median house price in the 700,000s if you're looking a bit further afield

I guess the other popular places in southeast Queensland would be Sunshine Coast so places like Nambour for example still relatively quite affordable certainly when you compare to the sort of nooses and Parisian beaches of the world but also Ipswich and Gold Coast other places where you can still get in for sort of a median house price at around $700,000 which is a lot more affordable than if you go into Brisbane's inner suburbs or up to the Sunshine Coast. Yeah no good call. Now good old South Australia where I've spent a lot of my time over the years has been a bit of a contrarian in what's been happening in property in recent times at least what's your read on what's happening there and where the opportunities will be in

the good old croater state well um you probably have a very good handle on it yourself bushy being a almost a local these days but look a lot of the demand in adelaide has been driven by relative affordability we've even had some clients who are from south australia now moving back to adelaide and that's a dynamic we haven't really seen much over the past decade been a slow and steady performer but the the suburbs that are getting the biggest amount of attention in adelaide seem to be those coastal suburbs um uh so um close to the beach uh reasonably close to the city sort of 10 to 20k radius and um compared to melbourne or sydney uh very affordable median house prices around the mid 600s and so it's not just locals buying there though we've got a lot of interstate

demand as well and the rental market in adelaide well it's probably one of the tightest we've ever seen for a capital city right up there with hobart from a couple of years ago so you can see why that's attracting the interest of investors as well as owner occupiers yeah totally now you mentioned the apple isle uh it's had a halcyon run in recent years uh what's your read in what's happening in in Tasmania and where the the hot opportunities are there well the Tasmania has had a spectacular run for the housing market unlike in many other parts of the country there wasn't a big surge in building of units and apartments in Hobart so despite the boom in demand there was never the overbuilding that we got in other parts of the country and the market has just kept going

on and on I think realistically the best time to buy in Hobart has passed but if you're looking in Tasmania you might look to some of the other towns and cities around the country which again is still relatively affordable as compared to the mainland just got to be a little bit careful about the price you pay particularly if you're looking at Hobart. Yeah totally great some of the northwestern coast west of Launceston there's still really good coastal communities with all the services and and the price points are considerably lower so opportunities there and now the the good old western australia's had a bit of a mixed run particularly over the last 10 years but there's some pretty green shoots that have been coming up there in recent times uh what are you uh seeing

in wa and and where are the locations there that are showing the the greatest opportunity yeah i don't think you need to reinvent the wheel too much when you're investing in western australia it's now actually the most affordable uh capital city in the country um in western australia incomes are relatively strong in wa and um housing prices since the peak of the previous boom around 2012-13 have really not done that much um so i guess look you're just basically sticking to the fundamentals of property investing when you're looking at perth depending on your budget um you know landlocked suburbs around the median price houses with potential to add value rental markets pretty tight lots of parts of the economy it's not the same as the mining boom years

there's not the big boom in resources construction these days but overall the economy's coming out of covid pretty well so plenty of opportunities there for people of the contrarian or counter cyclical nature yeah i think the uh wa's learns its lessons from the resource resources downturn and they really are diversifying uh the industry base and there's some really affordable locations in that sort of rockingham down to bunbury uh location where you know you're getting really good quality uh for bedroom homes for you know shy of half a million dollars so there's uh and really good rental yield. So definitely some opportunities in that neck of the woods

if you're taking a long-term view. Just to round it out, any thoughts on the Territory? It's a very small area with a very low population, so it can sort of react in different ways. Any thoughts on the Territory? Yeah, as a former resident of Darwin, I absolutely love the city. I think it's one of my favourite places that I've ever lived, not just in Australia, anywhere in the world.

um because you said it's a relatively much thinner market particularly for investors there was a huge boom during the mining boom years and then since then it's experienced the other side of that coin and so again like a lot of the demand is really for um properties with a good uh land to asset ratio where you're not just buying the high-rise units um but uh yeah the it's a patchier economy really is less diversified in the territory lots of public sector work and some mining and so that for investors if you've got the risk tolerance it might be worth the look but generally speaking most investors are looking elsewhere at the moment yeah it certainly doesn't have the growth drivers and like you i spent about over a decade in the territory spread between

darwin and alice springs uh back in the late 80s and the in the 90s uh it's some good cash flow yield opportunities in that neck of the woods but doesn't have the sort of sustainable growth that you might see because of that lack of critical mass. Now Pete I wouldn't mind just sort of flicking to the flip side now and looking at what and where are the danger zones and which suburbs you should avoid in each state and why? Yeah I think when it comes to danger zones I mean a lot of these are sort of issues that you would always sort of take note of particularly things like off the plan purchases I think but we do know that statistically buying off the plan is riskier than buying established property anyway but at this stage in the cycle we've got

construction insolvencies now the highest level we've seen in six or seven years and rising so I think you really need to do your research if you're thinking about buying off the plan you tend to pay a premium anyway to buy brand new but there's a lot of stuff happening in the sector that can create additional tiers of risk even on top of what there already is um at the moment i'll be a bit wary about flood zones um as you would be anyway but uh just with the way things are going in terms of regularity of events and media reporting i think areas that are susceptible to flooding you want to be really careful about what you buy because insurance premium are only really going up um and the other things you've kind of already sort of touched on things like

one industry towns they can do well in a boom period but you really want to buy in areas that are well diversified in terms of their economy so you're not just relying on one driver for growth so um some of the smaller or one industry towns are obviously riskier areas as well um so like no specifics there as such it's more just uh being careful about where and what you buy and sticking to the fundamentals or the basics of good property investing. Yeah, no, always very good timeless advice there, mate.

And I really appreciate those insights, Pete. I want to now take another short break before we actually delve into a number of major state-based changes that a couple of you've touched on already that are likely to impact on property in the foreseeable future. So stay with us, mate,

and keep watching because you're here on Realty Talk, your trusted voice for all things property. Successful property investment it as a game of finance. Do you have the right team and the right game plan? Realty Talk is brought to you by KnowHow 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. KnowHow has helped over 1,900 home

owners, and investors secure more than $800 million 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. Welcome back. Now, Pete, you've given us a great rundown on what's really happening in property alongside clear indications on where the opportunities lie. But I'd like to take a few minutes now to dig deeper into some of the major upcoming state-based changes that may have a potentially significant impact on property movements in the medium term at least. Now, the first one of those I want to dig into, which you've touched on already, is I'd be interested in a few more thoughts on what impact New South Wales stamp duty changes

are going to have on the types and locations of property when that legislation comes into effect on the 1st of January next year? And I guess the flow on from that is, does this actually create a window of opportunity in some areas in New South Wales? Yeah, so I guess what the legislation will do is it effectively reduces the deposit requirement for the first home buyers. So it's only really for that cohort that the tax legislation takes effect. The irony is, of course, that investors in the market can see what's going to happen and therefore it does create an opportunity which will get arbitraged away by investors so um the sector of the market that will be impacted will be the sub 1.5 million dollar bracket um but people tend to be quite

mimetic we do what everyone else is doing what we'll likely see there'll be a big surge in first home buyers in 2023 especially once people can see that interest rates aren't going to keep rising I think they'll generally come into the market then people will start tapping the bank of mum and dad they won't need as much money to get into the market because they won't be paying the stamp duty so there'll be a big surge in activity for units in Sydney and houses in some of those sort of peri-urban locations around Sydney in that sub 1.5 bracket so I think a lot of investors will look to get into that sector of the market almost front running the opportunity So this is the irony of announcing these changes in legislation in advance, of course.

Yeah, totally agree. I did some calculations recently. Just by removing that stamp duty hurdle, it's effectively going to increase the purchase price capacity for buyers in that sector by about 30%. So, that's a fairly major jump, which, you know, at a time when things have been getting tight, will be revelational to some of those sort of surrounding regional hubs in and around Newcastle, the Hunter Valley and others that you spoke about previously. So, I'm glad your calculator agrees with mine, Bushy, because I was very much a back of the envelope calculation, but I was thinking, well, really, for a first home buy, you'll only need about two thirds of the amount that you needed previously. So that roughly, Tyler, is with your 30%. So it's good to sense check it. But, of course, what that does mean, of course,

is more activity and more purchasing capacity for the first home buy. Yeah, totally agree. Now, I want to shift states to Queensland now, Pete, because at a time when I think particularly southeast Queensland was poised to capitalise on all the potential, but it's been incrementally enjoying, The Queensland government now, and I don't know whether it's a good or bad thing, but they're now looking to institute a change

to the land tax legislation where what they're looking to do is effectively tax interstate investors from the 1st of July next year based on their entire Australian nationwide portfolio's land value. What effect do you think this is going to have on property demand and values in particular in Queensland as you said? yes it's it's quite a a rapacious move for for a state government to tax investors from interstate simply because they own an investment property in queensland and then as you mentioned it's going to be looking at the uh the nationwide uh land value of the portfolio so i don't think this has been

well understood yet by people who own multiple investment properties i think the um the first thing that will happen and we already have a rental squeeze in many parts of southeast queensland there's been a big surge of people moving up to that part of the country driven by the ability to capitalize on flexible working arrangements or being in the office maybe two or three days a week instead of five a lot of people have chosen those lifestyle areas gold coast sunshine coast brisbane to some degree as well but this is going to create some forced sellers um some portfolio investors are just going to offload their queensland property as a result i think we might see more interest maybe in townhouses and units as well to try and avoid the land tax but i think

the first impact is going to be on the rental market which is already chronically tight i think it's not really been thought through that well i think the one of the concerns for investors is whether other states and territories start getting similar ideas at this stage there's no sign of that but the rental market is already too tight and this is only going to accentuate that yeah totally agree and i agree with you i i hope the other states don't take note of that because i i know that from the queensland government's perspective they're looking after their voters by not imposing that tax on on the locals but it's certainly a significant disincentive particularly for property investors who have multiple properties around the country. It's certainly

going to be deterrent. And I guess that's a good segue into the next question, because we've seen in recent times that Victoria and Queensland have made fairly significant changes to their residential tenancy legislation. WA is now looking to tighten theirs quite significantly. Lee, what impacts do you see this having on the local and unit markets in those areas? Well, I think it's in some ways a similar potential impact. One of the interesting things in Australia is you have very few professional landlords, by which I mean sort of investors with large property portfolios. And two of the reasons, one of which we already mentioned, the land tax makes it quite difficult for people to grow very large property portfolios. If you look at countries like the United Kingdom, where I'm from, for example, you have far fewer mum and dad investors, but you do have professional landlords with huge portfolios in some cases.

Australia doesn't really have much of that, partly because of land tax. But also, if you're going to see tightening residential tenancy legislation as well, well, that's not going to encourage more professional landlords. So I think at the sort of macro level, it could lead to a tightening in the rental market. At the micro level, well, just increasing the tensions that sometimes exist, I guess, between landlords and tenants, most of whom are excellent. Yeah, that's true. I think the sort of invisible influence here is that for existing landlords who have older properties who now have to spend a lot of money to get them up to code from various areas. There'll

be landlords who offload those properties or just pretty much close the door and don't rent them, which was going to put further pressure on the rental squeeze. So it'll be interesting to see that pans out, mate. Look, mate, it's been a really great chat. You've been very generous with your time as always, and very enlightening with some of your comments. But before we close off uh where can uh listeners get a copy of your buyers buyers full investor report uh jump on the website buyersbuyers.com.au if you go to the reports section of the website and you can still get that report absolutely for free you can download it there so um plenty of other free information and guides and other goodies there for you as well but um yeah report section at

the website buyersbuyers.com.au yeah fantastic and for those interested in getting buyers buyers to assist them with either their next property purchase whether it be strategy finance property research selection and negotiation how do they go about it with buyers buyers and what's the best way for them to contact you pete uh same way go to the website buyersbuyers.com.au as i mentioned there's plenty of freebies there if you're interested in doing some market research or subscribe for our newsletter but if you're looking for some guidance on next steps or where and what to buy, you can just contact us by the website. Always more than happy to help.

Fantastic, Pete. I really appreciate your time, mate, and look forward to staying in touch and looking for the next innovative insights that are going to come out of yourself and the Buyers Buyers team. Always a pleasure. Thanks, Bushy.

Thanks, Pete. Well, as you can see, the reality of property is very different from the mainstream media rhetoric, and there's still a wealth of opportunities for smart property buyers who take advantage of the current window of opportunity to secure A-grade properties in A-grade locations before the fear-driven stampeding herd changes direction.

Stay with us for more here on Realty Talk. Property depreciation is the natural wear and tear of a building and its assets. Property investors can claim depreciation as a tax deduction each financial year. Depreciation is a non-cash deduction. This means you don't need to spend any money in order to claim it.

On average, BMT tax depreciation find residential investors almost $9,000 in first full financial year deductions. Call BMT on 1-300-728-726 today for an obligation free quote. Well, that's another wrap for this week's show. Another big thanks to Pete Warden and the entire Buyer's Team for generously sharing their very invaluable intel. And before we go, make sure you don't miss another episode of your trusted voice for all things property by subscribing to Realty Talk Now on Apple Podcasts, Google Podcasts, Spotify, YouTube, or wherever you listen. And make sure you jump on channels.realty.com.au forward slash Realty Talk

and click on the subscribe now button to get a free copy of my award-winning book, Get Invested. And while you're there, make sure that you check out one of Australia's most extensive range of properties for sale from over 7,000 agents nationally, where you'll even find properties that aren't listed anywhere else. Thanks again to realty.com.au and BMT Tax Appreciation for their ongoing support. I'm Bushy Martin from Know How Property Finance. Remember to always get invested

and I look forward to seeing you again next week. Miss something in this week's show or want to catch up on past shows? Do it anytime at realty.com.au where we connect buyers, sellers and agents differently. Thank you.