Property Hub - Investment Insights & Inspiration - Realty Talk: We fact check the ‘experts’

Episode Date: December 16, 2023

It is the time of year when the predictions about what the market will do in the new year ahead start to dominate the news cycle.  This year we will take a different approach and reflect on the predictions about 2023 that were made this time last year - by the banks - and fact check against what actually happened.  Bushy does that with the help of Simon Pressley in this week's show.  Then we introduce you to Eddie Tchigique - the man behind the Property Hub Collective - our Facebook community that is growing very strongly because so many people feel totally confused and overwhelmed by conflicting property information.  The Collective offers unbiased and balanced advice based on experience.   To close out today’s offering, Bushy has penned, and delivers in true Bushy style, his ‘Hypothetical’ where he challenges you to imagine an ideal Australia.    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 and welcome to this week's Realty Talks show. Well, it's that time of year when the predictions about what the market will do next year, the year ahead, they start to dominate the news cycle. Now this year, we're going to take a bit of a different approach and we're going to reflect on the predictions about 2023 that were made this time last year by the banks. and we're actually going to fact check those against what actually did happen and Bushy does that in this week's show with the help of Simon Presley and then we introduce you to Eddie. Eddie's the man behind the Property Up Collective that's

our Facebook community and it's going to say it's growing very very strongly because so many people feel totally confused and overwhelmed by the conflicting property information that exists the collective offers unbiased and balanced advice based on experience and then to close out today's offering bushy has penned and he delivers in true bushy style his hypothetical where he challenges you to imagine an ideal australia hi if this is your first time with this welcome, you're going to find us on all podcast players and through the Southern Cross Oz Stereo Network. If you like the show, make sure you hit that subscribe button and help us to continue to bring you the best guests every week. Join the conversation anytime on Facebook

at the Property Hub Collective. We'll be back in just a moment as Bushy kicks off this week's show. Property deductions can save you thousands of dollars each year. To make sure you maximize deductions, you need to work with the most experienced quantity surveyor in the country. BMT Tax Depreciation is the leading specialist in the industry. They've completed over 700,000 tax deduction schedules for residential investment and commercial properties Australia-wide. BMT guarantee to find double your fee in the first full financial year deductions. Call BMT on 1-300-728-726 today for an obligation free quote. Realty Talk and your host Bushy Martin. At the end of every year always marks the beginning of forecasting season when an array

of bank economists and other self-proclaimed property experts roll out their doom and gloom property predictions and in typical fashion it's fair to say that they've successfully managed to predict nine out of the last two property downturns. So to balance the books based on all of the facts, rather than the indicator of the hour fiction, we always love to share the insights of Australia's number one thought leading property analyst, Simon Presley from National Buyers Agents Propertyology, who's actually anticipating that a super boom may be just around the corner. I can't wait to hear more on this. So welcome back to the Property Hub's Realty Talk Show, Simon.

G'day Bushy, always good to have a chat mate, you keeping well? Absolutely well, mate. And I've been sort of waiting with eager anticipation to catch up with you because this time of the year is always the time when everyone comes out of the woodwork to talk about what's next in property. And you've always been on the money as far as that goes. So, Simon, to kick things off, let's review the track record of those who typically dominate forecasting season each year. And I want to sort of start off with your boom and bust driver summary that's going to help to put things in context with the slide that we'll bring up shortly. Yeah, I mean, look, to be brutally honest, the banks and economists have never once got it right when it comes to forecasting property markets. And I'll say that, honestly, they have never once got it right and are very rarely remotely close when you compare their forecasting to what actually unfolds.

A big part of a pushy is emotion, and we've all got emotions, including you and I, not just the banks and the economists. But to make intelligent assessments when we're talking about the future, it's critically important that we focus on the evidence. So if there's a major change to a tax policy, a negative gearing or a land tax, because that's not going to have a positive impact on a property market, the less intelligent forecast will go, well, property markets can't perform well. On the positive side, an infrastructure project, or just a couple of years ago when it was announced that South East Queensland is going to be hosting the Brisbane Olympic Games, the 2032 Brisbane Games. So for two months there, we had that Brisbane's going

to have a property boom. And then two months later, there was some negative material release. I think it was interest rate increasing at the time. And they'd flipped and gone, there's going to be a property market crash. And I'm like, well, is it going to be a boom or is it going to be a crash? Which one is it?

And the reality is they get focused on the positive or the negative emotion associated with an individual thing. And it's always the combined sum of lots and lots of factors that influence property markets. If we have a look at, you know, I don't think any of us will forget the banks and the economists forecasting when we all went into that national lockdown with COVID or what the headlines were saying in that sort of first six months of COVID. And they ranged from the absolute best was a 10% annual decline in property prices. That was the absolute best, and some of them were forecasting 50%. Largely, that was emotion behind that. If they actually took the time, as we did, to look at the facts and the figures, and there's lots of those,

and to digest what's likely to happen, they would have been more able of coming to a much more sensible conclusion. Yeah, no, extremely well said. So if we sort of pull that all together then and look at some of those false predictions and inaccurate predictions. Simon, what's it all telling us? Well, they don't know.

That's the brutal truth. And it took me many years to realise and I guess accept that they don't know because I was a younger version of Simon, especially just like everybody else, guilty of being told that someone's an expert. So you accept that they are an expert because they're on the news or something. They've been told, you're told as a member of the public

that they are an expert. But genuine experts have tertiary qualifications in a subject topic. And let me tell you, there is no such thing as a degree in analysing property markets. I think the public assume that that's what economists do. Well, let me tell you that Propertyology's 2IC, a very skilled gentleman called Brian Luffin, has a property economics degree. and nothing in that four-year university degree is remotely useful for forecasting and analysing property markets. Nothing.

Banks, they sell debt. They don't buy assets. So why do we even bother listening to what they think the value of assets will do? They don't buy them. They mitigate the risk of the debt that they sell by things like making sure that there's good deposits and, you know, we can confirm the borrower's income.

But they actually have no experience, zero, in buying assets. The individuals, the individual economists or whoever is behind saying, we forecast this, we forecast that, most of those people, as nice people as what they are, most of them have never bought any more than their own family home. If they have bought an investment property, it's probably within five kilometres of where they live. so they've got very limited experience in buying assets and very limited experience in understanding

borrower behavior and debt so why do we assume that they're experts their track record proves they do not understand it's very very complicated beast called property markets yeah very well and sadly as soon as you get a guernsey on the mainstream media you're immediately assumed to be an expert and a guru which is which is part of its downfall so I want to dig into there a little bit and I'd really like you to talk us through sort of a range of some of the recent property predictions that you've seen across the board from some of the banks and others and to give us a bit of a sense of what they've been saying. Yeah well just finish up on what we started earlier with COVID so forecasts of the clients are between 10 percent and as much as 50 percent

The actual outcome from, let's call it the middle of 2020, three months into the national lockdown, two years from there onwards, property prices, I think the worst performed property market over that two-year window, enjoyed about 25% growth in just two years. I mean, crazy stuff. Some markets had as much as 60% growth in that period of time. Now, 60% growth compared to a 50% decline, I mean, it's emus and apples. Like, you just can't compare. And, you know, let's go back to why did they forecast such doom and gloom? Because this just proves that they don't understand property markets. Well, the consensus, according to the experts, was with the international border closing, there will be no population growth, so therefore property markets can't grow.

Well, for donkey's years before COVID, we produced all sorts of evidence to try to educate people that whilst it has some influence on property markets, population growth has very, very little influence on property markets. It's not babies that buy properties or overseas migrants that buy properties. It's not. 95% of the properties bought each and every year is the existing population. and the performance of property markets is determined by the things that influence their behavior and their finances um and supply i mean housing at the end of the day is probably second most important to all humans other than water we always need it whether whether there's a covid germ or whatever's happening in the world we always need it um there was an all-time

record shortage of housing directly before covid started and what we're talking about this super boom today that all-time record shortage from three years ago is even shorter again so yes there's lots of negative influences out there that influence property markets but the combined sum of the positive things are even greater um anz forecast a 10 decline for the combined average capital city in 2023 well cool logic just this week released the latest data so the first 10 months of the 2023 calendar year the combined capital city change and median house price was growth of nine percent yeah and they'd forecast a decline of 10 percent uh amp said they could decline this year by as much as 20 percent um realestate.com property track said that they

could decline by about 11 all the banks for this calendar year that we're talking about now all of them forecast a decline and what's actually happened is a nine percent growth in 10 months now that's already a boom bushy yes what might happen next year i think next year will be stronger again than this year but already we've had nine percent in 10 months so annualized at combined capital cities have had about 11 percent growth in one calendar year when when the banks shared again said it was going to be a double digit decline so but they never get it right i've taken a lot of time to look back at forecasts every single year and at best um the actual rate of growth the banks probably predict about one third of what actually happened so

this year banks are sort of saying um for 2024 there might be sort of five to six percent growth is that must have hurt them to forecast some growth um if they're true to form triple what they forecast now there is a lot more science than just doing that but um yeah that's that's history. Well, the interesting thing is, based on what you've just shared with us, if they're saying a 10% decline, that's almost, if you do the 180 degrees on that, you're probably going to be closer to the mark, given that recent experience. And on top of those examples, you issued a great tweet in January this year that really does summarise some of those predictions against to reality. Can you just talk us through that, Simon?

Yeah, and that tweet's probably what motivated us to have this conversation, isn't it? Because we've just started forecasting season at this time every year that the banks, you know, chase a bit of publicity and put them out. So to summarise them there, you know, Westpac predicted minus 8, ANZ

minus 9, AMP minus 10, CBA minus 9, NAB minus 9. I mean, it's unanimous. 10% is a pretty big decline in just this one period of time. But, as I said, When we annualise the first 10 months of the year, we'll end up exceeding double-digit growth.

So take every forecast from banks with a grain of salt is the moral of the story. Like every single year they've proven that they can't be relied upon. Yeah. Now you've touched on this already, but just to sort of bring that together, can you sort of summarise why there's such consistently poor and off-the-market predictions from the so-called property experts? Look, as someone who hand on heart has studied Australian real estate history, I'm confident in saying there is nothing more complicated on this planet, Bushy, than perhaps trying to find a cure for cancer than property markets.

But to have any chance of being intelligent and analysing property markets, you need to devote a lifetime, not just reading a few reports online. You need to devote a lifetime to see what has actually happened in every town and city across this huge country in the past and learn why it happens and not make generic comments like house prices can't keep growing at this rate because wages haven't grown at this rate. Well, wages have never grown anywhere near the rate of property prices. And it's not just properties that people use their wages for.

You can say the same for everything. Everything costs money, right? So you can't, there never has been a direct line between wage growth and population growth. Stop waffling on about overseas migration and its influence on property market performance because there's 100 years of evidence to prove it only has a little influence.

Start to properly understand housing supply. It's got nowhere near as much to do with construction like people think it does. It's a lot more to do with rental supply, which is investor behaviour, and resale supply, which is why we're going to have this super boom the coming year and stop freaking out when interest rates go up or there's high inflation interest rates always go up and they always go down and all inflation always exists

sometimes we like these metrics sometimes we don't but we need to look at the combined sum of all factors yeah beautifully said well that's the perfect segue then to now turn to the future and and look at what is likely to happen in 2024 so let's again kick off by what the bank economists and others are predicting and how this compares with your read of what's likely to happen next. The banks first, you know, different times in the last month or so, Bushy, they've all released their forecast for next year. That said, it seems like every month they'll change their mind

and issue a revised forecast, which just highlights, they realise, oh, we got that wrong, we'd better change our minds so that we can improve our digital footprint. But they reckon somewhere between 4% and 7% growth for the 2024 calendar year. So triple that and they're probably closer to what actually happened. I feel very confident that you'll probably see the rate of growth that banks are predicting for the whole of next year

in the first three months, January to March. Hence the term super boom. Why? Firstly, what's actually happened in 2023, this year is a lot stronger than what people thought. underpinning it mostly is the significant shortage of housing supply people will especially today because the rba have increased interest rates people say well house prices can't go up you know mortgage prices have gone up again well we've had that nine percent growth in the first

10 months of this year um for those months we had interest rate increases yeah so there is no there is no precedent that says when interest rates go up you know that that adverse effect property prices it's never been as simple as that at the end of the day there still is no sign of household stress of mortgage stress we still have an all-time record low number of mortgages in arrears that's not to say that people haven't had to tighten their belt or that some people aren't struggling we never ever have a perfect world we never ever um that that's one thing the number of properties listed to sale which is one metric for housing supply and when it's in regards to asset performance capital growth this is a lot more important than the number of homes we build

here and now today we have 240 000 properties available to purchase nationally 240 000 sounds like a lot not really when you live in a country with 26 million people this time five years ago we had 320 000 properties listed for sale i'll repeat those two figures 320 000 properties for sale five years ago today 240 000 properties for sale with 1.5 billion extra people now the covid boom with the border closure was underpinned by a record low volume of properties listed for sale it shrunk and it's going to shrink again every single year the months of december and january are the lowest for people who own property listing it for sale their attention quite rightly is focused on finishing major projects at work going on holidays enjoying

christmas yeah so the number of properties that's already low in the beginning of november while we're having this discussion will reduce by about 10 over the next two months what also happens every year. In January, a large percentage of the Australian workforce take leave. They disconnect from the negative stuff that's in their device. They recharge. They make New Year's resolutions. People

start talking about becoming a first-time buyer or upgrading the family home or becoming a property investor and all these things. Late January and February always becomes a big surge in buyer activity. They're energised. They've worked out their finances.

They've disconnected from the negative and they asked. When they asked in 2024, in the months of January and March, there would never in our history have been a bigger shortage of properties for sale. That's why we're going to have a super boom. Beautifully said, mate. I really want to thank you for taking the time to research all of this.

And we can certainly see from the analysis when we compare it back to your boom and bust driver assessment that we started with. The country certainly appears poised for another property super boom, as you've called it, particularly in beneficial locations. So I want to thank you for joining us on Realty Talk and sharing all of your insights and all of the work that propertyology does to educate and inform the market moving forward. So thanks for your time, Simon. Absolute pleasure. Successful property investment is a game of finance.

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Now, with all of the fear and constant negative noise that you keep hearing in the media about the economy, the inflation, the cost of living, rising rates and just about everything else, is it any wonder that many feel totally confused and overwhelmed by the complexity and are left not knowing what to do with their money even if they've got the time to think about it get alone do something about it now if this sounds like you then you've landed in the right place at the right time because the new property hub collective facebook community may be just the solution you've been looking for and the safe place that you've been searching to get true answers. And the driver of this great new community and active part-time investor himself,

Eddie Tageek, or Eddie the Frenchman as he's better known, joins us now to talk about it and what it means to you. So welcome to the show, Eddie. Yeah, thanks Bushy. I've been looking for a good excuse to get you on for a while now, given the activity you're doing in the Property Hub Collective community. So to sort of set the scene for that though, mate, what are some of the common problems that you see hardworking aussies encountering when it comes to money and investing yeah look i mean it's the same same problems we had probably six to seven years ago now where you get to a point i think where you get around uh you know mid 30s to early 40s and and you realize that you need to do something with your money but you just don't know what to do you don't

know where to start you don't probably don't have the mindset here either in terms of because you're lacking education uh so i think i mean the main problem is really they don't know what to do they know they need to do something but they don't know where to start and and that's that's a big issue obviously yeah a massive hurdle because what people tend to do then is do nothing and year slips through their fingers before they get a chance and and often that makes it difficult so so what what are your thoughts on how we can fix that then eddie well i mean financial education is the first one. And when I say financial education,

look, most Aussies, they have limited interest in financial education in general. Obviously, they've got a vested interest because they want to better their life and at least be comfortable at retirement. So I think that financial education on the main bits and pieces is paramount.

And that's why we think that this community is going to be great for them to sort of learn the basics. and and that's going through examples that's bringing in experts that's bringing in you know the likes of myself i mean myself and my family we again we've been through this over the last you know six years or so and so we started not knowing knowing what to do and obviously educating ourselves and and a lot of light bulbs um uh you know went off in in the in the whole journey so really making them aware of the the concepts that are behind you know making your

life a bit more comfortable yeah sounds good and how do you see the property hub collective facebook community helping with that look we'll cover so i've got a obviously a plan with the likes of yourselves and a few others but obviously covering some various topics and a lot of them are actually current topics whether it's the rba rate or the property market and what it's doing and the you know the overseas migration and things like that uh the issue is a lot of the media and a lot of the people in the industry as well complicate things drastically whereas investing is fairly simple in uh you know in the core i guess and so we'll bring some experience as well to do a few deep dives on a few topics but really the the aim is to i'm very aware that again a lot of people

aren't that interesting in being expert and that's not what we're trying to do we're just trying to make them aware of a few concepts and the basics and then they can make better decisions for themselves yeah i love that so so taking that forward then what what's your vision for the property hub collective then eddie so we'll have um obviously there's going to be an education piece which is going to be some content that you know myself and a few others will be delivering on a regular basis obviously the it's a community so there's definitely a discussion between members and there's going to be a lot of members at different levels obviously some of them will have some investments some of them will won't even have started but they've got an interest if they've

obviously connected to the community uh this again you know we're going to have some experience in there's there's not going to be any hard sell or anything obviously clearly the experts are coming in and sure they will get some exposure out of it and and the the members in the community can use their services if they want to but it's really a safe place to ask any question along the the journey or whether it's at the start or at the end of it yeah yeah and i love that uh and i guess and you've touched on a real issue there and that a lot of these groups become sales portals basically for a lot of people who are pushing their own vested interests so what what excites me about what you're creating is that it really is creating a circle of safety where people can

ask any question and no question is a dumb question uh and and get the answers in language that people understand not sort of tied up in technical jargon that just goes over most people's head because as you say investing it's not rocket science it's actually pretty simple when you boil it down but a lot of people like to make it sound complex to justify their own existence at times so so in that context then how do you see uh this group being different from other facebook forums and groups that you see yeah social platforms okay i'm a member of quite a few groups on facebook and and outside of facebook and and i i found it very frustrating the fact that it would be good to get a for a community where you go from a to z in terms of the the property

journey the property the investment journey and it's not just property so property is a big part of it and we'll explain why and and you know bits and pieces but but really yeah the whole the whole concept the whole investment journey and i i can't find well i couldn't find any communities that we're going through through it so a lot of them obviously you know they either highly properly geared or they either highly shares uh share market geared or but there's nothing in between yeah and i think that there's really a point for you know both uh and investing in different asset types and and we'll explain why and we'll explain you know the the pros and cons and all that so that's that's really what i think is going to be different to the uh to the

rest as well yeah i love it uh it sounds very exciting so uh who's the group going to be best suited for then mate yeah look i mean age bracket i mean obviously i thought about the avatar with this community the age bracket i would see between 30 and 50 i think that's the bracket where at some point in between these two age brackets you're going to start realizing i got to do something with my money and make it work harder and whether it's because you know as you get towards your 40s you see people in your family or friends that are getting sick or i don't know there's something that makes you realize that you have to do something with it so i think most of the the members will have you know very decent income and when i say decent income i'm not

talking about you know 200 grand plus but they have you know jobs and and income and they can save money and therefore invest it a lot of them have kids a lot of them are busy and they don't feel like they have enough income and and again a lot of them are starting to realize they really need to do something with their money yeah beautifully said i've often said eddie that it's the start that stops most people so how do we get more involved look i mean obviously joining the property hub collective is the the first step uh for you know you again you'll get regular content you'll get other members you can have a chat to you you'll have expert guests on on different topics so that's uh you know the property hub collective on on facebook is really

the the main point uh and attached to that there's going to be other things obviously there's a property hub podcast which is a great source of um just for me as an investor i i listen to it religiously every week i you know i always learn things from it and so those are the the main two um the main two things really i would i would start with and then again as you get educated through these two forums, you know, you'll start getting some concept and you start looking at more specific avenues and more specific things. You'll just get more clarity out of it, put it that way.

Yeah, I think that's the point is that there's so much confusion and complexity and we're almost living in an age now where there's too much information. So trying to work out what's the good stuff and what's not is half the challenge. So, look, I really want to thank you for taking the time to share all of this with us, Eddie. Oh, thank you.

Yeah, which has been great. And for anyone looking to answer all of your money and investment questions in a very safe, trusted place that you'll never be sold to or BS'd in that respect, I'd really encourage everyone just to click on the link in the show notes now, which is facebook.com forward slash groups forward slash the Property Hub Collective to join.

And Eddie and other like-minded, hardworking Aussies and proven professionals who all actually walk their own talk will be there to help you learn God and support you on anything to do with money that matters. So thanks for joining the show, Eddie. Thank you, Rishi. 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 Rasty 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. Realty Talk exclusive to The Property Hub.

To set the scene for a continued bright and positive property future, let's start with a Geoffrey Robinson-style hypothetical where you'll imagine in your mind's eye an ideal Australia where inflation is better managed by a broad-based additional savings or super levy on everyone's income, which becomes a volume switch that can be turned up, down or off to suit economic conditions, rather than the current outdated reliance on ineffective interest rate movements that only

end up penalising the 30% of a population that can actually least afford it and it has the attendant unnecessary effects on our buying capacity, property values and our wealth. A nation where property regulations, practices, processes, costs and taxes are consistent right across the country, not different from one state to the next, where long-term strategic planning of housing supply is managed by a central national authority with approval processes that are fast-tracked. An age where government resumes responsibility for the provision of social, affordable and special needs housing, rather than continuing to use their Teflon gloves to point and prod their reactive short-term fingers at everyone else rather than taking

some responsibility and some actual accountability for action. A time when property investors are once again incentivised, rewarded and applauded as everyone's friends to self-fund their future, to increase supply and alleviate rental shortages and are once again treated as the actual answer to our housing woes and embraced as friends rather than foes, who are, sadly, constantly penalised as the donkeys to pin the tail on for our politicians and bureaucrats. Where property spruikers and shonks are eliminated due to the regulation and enforcement of property professional standards, where every property transaction involves both a buyer's agent and a selling agent, along with accredited strategists, brokers, valuers, building inspectors,

property managers, quantity surveyors and conveyances. An era when housing affordability and accessibility deposit hurdles have been alleviated through the introduction of a dollar-for-dollar government-matched savings plan for kids from birth right up until they turn 18, as well as tax waivers for those that are entering the workforce on their first few hundred thousand dollars of earnings, where the equivalent amount is then deferred into a compulsory investment or property deposit account. and massive and prohibitive purchase stamp duty hurdles are actually abolished in favour of annual incremental levies. A time where interest rates remain within an affordable range can actually be fixed for the life of the loan like they are in the United States. Where investor loans and interest rates, taxes and treatment are no different to other borrowers. Where loan approvals and borrowing capacity assessment are actually based on common sense, rather than layer upon layer of risk protection that actually prevents many from buying properties when they actually

have the capacity to repay the loans. And finally, in Australia, where advanced AI captures all dynamic logical data, as well as the intangible psychological behavioural aspects of property analysis, forecasting and decision making, and is no longer based on limited and misleading simplified historic snapshot metrics. Now, this is a vision of our great nation and enviable lifestyle that's actually worth fighting for. And it's also a unifying catch cry for our collective property future that all investors and property professionals can actually help to create

by making some noise and taking action, by joining the likes of PICA or the Property Investment Council of Australia, if you're an investor, or by joining PIPA, the property investment professionals of Australia if you're a property professional because collectively we need to balance the books and bring our politicians and policy makers to account so that working together we can actually stop the whinge fest and finger pointing and draw on our pioneering heritage to make it happen rather than letting it happen. We've all got an enormous amount of work to do if we're actually serious about preserving the opportunity that

property has actually provided for every generations of Australians since the first fleet arrived over 230 years ago. Because property investors and our industry continue to be under attack and under threat from just about every quarter. As the last few years of the latest PIPA Investor Sentiment Survey results continue to demonstrate, nearly 13% of investors have actually signalled that they will never buy an investment property again. And hundreds of thousands of rental properties have been removed from the market as a result now this is a result of the relentless misguided villainization of investors by the media and most levels of government as the convenient cause of all of our property woes that's resulted in investors being

singled out to pay higher interest rates and higher taxes together with ever-increasing compliance costs and tenancy restrictions meaning that increasing numbers of investors are just selling up, reducing rental stock, and pulling the pin. At the same time, the all-consuming tsunami of AI presents a two-edged sword that will create opportunities for some of us and major threats for others. So we need to ensure that we're riding the crest of the wave and not end up dumped and drowned in its wake. As investors and or property professionals,

this means that we're all currently swimming in a shrinking and evaporating pond. But only dead fish float downstream. So I believe there's never been a greater need nor a better time for all of us to start swimming against the tide of mainstream myths and misconceptions. And as the flag flyers and torchbearers for the property investment industry, we all need to heed the call to action. As we've actually got an obligation to stop reacting to the never-ending barrage of naive negative news and ill-conceived band-aid solutions from the uneducated and the ill-informed, whose short-term actions, if implemented, are likely to have far-reaching unforeseen negative consequences. Instead, we all need to proactively and positively educate the powers that be, as well as all and sundry, by driving the agenda and the property narrative for the benefit of all, both

now and into the long-term future. Now, it's not just up to PICA and PIPA to do this, because each and every one of us have a duty of care to step up to the plate and share this make-or-break responsibility. As the old saying goes, all that's needed for evil to prevail is for good people to do nothing. So it's up to all of us to share this burden and work towards turning our bright property vision into an actual reality. This critical work won't be quick and it won't be easy, but we all need to continue to rise to the call, to challenge the status quo, to question outdated practices to test assumptions and through our collective consciousness create new and better solutions for the benefit of all and the property hub shows and the recently relaunched property

hub collective facebook community provide the perfect breeding ground creative catalyst and meeting of the minds to continue this very critical work so keep listening continue to renew your childlike sense of curiosity ask questions make suggestions meet and talk to others that you actually don't know. And let this segment today be another spark that will inspire us to make the time to keep these critical conversations going in the midst of the cut and thrust of our everyday lives as we look forward to another exciting year ahead in property that will yet again defy the doomsday prophecies and the negative noise in the news. Now you've probably all heard the old story about Albert Einstein when he was a professor at Princeton

University way back in 1939, and after he handed out the end-of-year exam papers, one of his students said, Albert, these questions are exactly the same as last year, to which Einstein replied, yes, but this year the answers are all completely different. In the same way, the only thing that's certain about our property future is the continued exponential rate of change and dynamic uncertainty. So what's coming? How will it affect us? And what, if anything, can we and should we be doing about it? Our ongoing aim here on the Property Hub is to keep giving voice to industry leaders and innovators that will help you with all of these answers so that you can continue to make much better and more informed decisions.

As Charles Darwin famously said, it's not the strongest of the species that survive, nor the most intelligent, but the one who is most responsive to change. And we also need to keep in mind that old saying that when one door closes, buy another one and open it yourself. So on behalf of Kevin Turner,

Andrew Montessi, Eddie the Frenchman, Jamie, Roland, myself, and all of the Property Hub sponsors, guests, and behind the scenes support team, we want to thank you for listening we wish you and your families a fantastic festive season and we look forward to joining you and enlightening you for an even bigger and better year ahead so keep tuning in and we'll see you

on the flip side here's how realty's discovery search works now think of ai as an assistant on your real estate journey how ai works is by using algorithms and data the words that you use to describe the type of property you want. By entering what you want, the AI learns and makes predictions or decisions and then shows you the results. So rather than searching by suburb and then property type and land size and so on, simply type in or say what you want. The more you use Realty's AI discovery search, the more accurate it becomes. Unlock bonus content now as a premium subscriber. And that brings us to the end of this week's show. Big thanks to Eddie and to Simon for their contributions.

Make sure you don't miss a single episode of Realty Talk or Bushy's Get Invested podcast delivered to you each week. And you can do that by subscribing to The Property Hub now on your favourite podcast player or wherever you are listening to or watching the show. Also, join the conversation anytime on Facebook at The Property Hub Collective. on a special thanks to our supporters and content partners realty.com.au bmt tax depreciation

know how property finance get rare property and appear our marketing i'm kevin turner and on behalf of bushy and the property app team we look forward to seeing you again next week