Podcast: This is what’s going in regional NSW property

Regional NSW

Reece Marini joined me to talk through what's happening in the regional markets of New South Wales.

Tune in here (or click on the image below):

Canberra a rare pocket of growth

State Accounts sluggish

The ABS State Accounts underscored the relative strength of Queensland's economy, wherein Gross State Product defied the odds to grow by 2.1 per cent in the 2024 financial year, driven by the booming south-east Queensland corridor. 

The Northern Territory saw a rebound in oil and gas extraction after last year's declines, accounting for the strong number for the Top End, while Canberra's endless boom in public administrators rolled inevitably onwards. 

Public administration and safety was the main driver of the ongoing growth in government agencies, with a +7.7 per cent increase.  

Generally, through, growth in the Aussie economy per capita has been weak. 

Source: ABS

Canberra has always seen higher gross incomes per capita than other parts of the country, but the relative differential really accelerated away under Labor's governments from 2007 to 2015, and has remained there ever since. 

Gross income per capita in the ACT today is 52 per cent higher than in New South Wales, and an astonishing 72 per cent higher than in Victoria. 

It's been a tough year or two for Victoria, with a huge increase in land and property taxes being levied on the population in order to tackle the state's debt mountain. 

At the household level, once-lowly Tasmania now has a higher income per capita than Victoria for the first time.

A glance at the interest payable on dwellings over the past two financial years tells its own story, with households being slammed by higher mortgage rates.

It's no wonder retailer insolvencies have surged and the consumer economy in the mortgage belt is hurting. 

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Commonwealth Bank of Australia (ASX: CBA) saw a record closing share price of $156.38, up by more than 50 per cent over the past year, suggesting that banks are at least enjoying the higher mortgage rates. 

Construction insolvencies continue to surge

Developers go bust

Over the year to 3 November insolvencies in Australia continued to rise sharply, according to ASIC's latest data. 

5,194 insolvencies were reported for July to November, up from 3,511 for the prior comparative period. 

To date, there's been no let-up in the surge of construction sector insolvencies.

It goes without saying that this is not good news for the burgeoning housing shortage in Australia.

Charter Hall boss David Harrison was reported in the AFR today saying that if today is a housing crisis then "God knows what they'll call it in five or 10 years".

Developers in Sydney have been smashed by high interest rates and construction costs, meaning that developers don't see the value in commencing new unit projects.

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In other news, Canada's inflation rate picked up to 2 per cent in October, meaning that the next interest rate cut may prove to be 25 basis points, instead of 50. 

The UK inflation rate picked up to 2.3 per cent as the energy price cap was lifted by 10 per cent last month, impacting millions of households. 

Markets are still pricing for 59 basis points of cuts from the Bank of England before Xmas (down from 64 basis points before the inflation data was released).

New Zealand's economy is in a mess and struggling, and next week will see another 50 basis points interest rate cut...if not more. 

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P.S. Whenever you’re ready…here are 5 ways I can help you manage your own money and go next level wealth:

1. Boom or Bust – 20 minute online workshop for investors

Register for my next free online training - Boom or Bust? How to change your investment plan - book in here

You also download a free copy of my e-book The Only 6 Ways to Become Wealthy here.

    2. Download our property buying guide

Download our free property buying guide here. 

You can also check out a few of our recent property investment purchases here. 

Get in contact with us today if strategic property investment is your thing. 

    3. Subscribe to our Top 10 Podcasts for Investors

Listen in to our podcasts

The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with well over 50,000 audio downloads per month, and growing fast.

And our popular Low Rates High Returns Show also remains available on Spotify.

    4. Subscribe for my free daily blog

Subscribe for my free daily blog with some 3.7 million hits here. 

You can also catch up with me daily on Twitter here, where I'm active daily and have over 14,600 followers. 

By the way, I'm an 8-times published author on finance and investing, so you can check out some of my books here.

My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - follow our book release on Facebook here and at our Buy Right podcast series here. 

5. Work with me privately

For a limited time you can book in a free diagnosis call with me here, so book in a call today.

ausbiz: Population and property pressures

ausbiz TV

I joined Andrew at ausbiz TV to talk all the latest property news.

Tune in here (or click on the image below):

New home sales pick up, except in Sydney

New home sales off the lows

The proportion of employers preparing to increase staffing levels declined from 22 per cent to 19 per cent, according to the latest recruitment report from Jobs & Skills Australia.

It's still not always easy to find the required staff, though, especially in regional Australia, where recruitment difficulty rates remain quite elevated.

In other news relating to the housing shortage, new home sales rose by a promising 9.4 per cent in October, which should result in a rebound in new housing starts in 2025. 

The increase was driven by a 26.5 per cent increase in Victoria, where stamp duty has been scrapped for new builds since October 1, with no price caps. 

Most other cities and states are seeing a recovery from the nadir, with the notable exception of Sydney.

Reported the HIA:

“New home sales nationally are showing an upward trend, with sales in the last twelve months 8.0 per cent higher compared to the previous year.

“The rise in new home sales will see an increase in house commencements from early 2025.

“If this trend continues, New South Wales will be the only laggard market for home building activity. This is driven by the high cost of residential land, particularly in Greater Sydney."

There's been such a large rise in construction costs since 2020 that Sydney is unlikely to see a recovery in multi-unit building until prices have increased significantly. 

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P.S. Whenever you’re ready…here are 5 ways I can help you manage your own money and go next level wealth:

1. Boom or Bust – 20 minute online workshop for investors

Register for my next free online training - Boom or Bust? How to change your investment plan - book in here

You also download a free copy of my e-book The Only 6 Ways to Become Wealthy here.

    2. Download our property buying guide

Download our free property buying guide here. 

You can also check out a few of our recent property investment purchases here. 

Get in contact with us today if strategic property investment is your thing. 

    3. Subscribe to our Top 10 Podcasts for Investors

Listen in to our podcasts

The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with well over 50,000 audio downloads per month, and growing fast.

And our popular Low Rates High Returns Show also remains available on Spotify.

    4. Subscribe for my free daily blog

Subscribe for my free daily blog with some 3.7 million hits here. 

You can also catch up with me daily on Twitter here, where I'm active daily and have over 14,600 followers. 

By the way, I'm an 8-times published author on finance and investing, so you can check out some of my books here.

My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - follow our book release on Facebook here and at our Buy Right podcast series here. 

5. Work with me privately

For a limited time you can book in a free diagnosis call with me here, so book in a call today.

The key trends shaping 2025 (podcast)

Big Picture Podcast

I joined Michael Yardney to discuss the key trends shaping 2025. 

Tune in here (or click on the image below):

Temp visas (ex-visitors) rise 8pc to new high

Temp visas surge

The total number of temporary visas in Australia rose to 2.8 million in September (it's not the strongest time of year for temporary entrants).

Excluding visitors, temporary visa number rose to 2,464,000, an increase of around 8 per cent or 164,000 from a year earlier.

Visa numbers are set to rise to a new high of 3 million in due course.

International student visa numbers nudged up to a new high of 720,000. 

It looks as though both the Coalition and the Greens will vote against international student caps, so there will be no changes here until 2026 at the earliest (if there are to be any changes at all). 

The rental crisis has eased a little as tenants bunch up, but it hasn't gone away.

There will likely be a demand-driven crush for good-quality rentals in 2025. 

Melbourne will be an interesting test case, given that the total number of rentals actually fell by around 20,000 over the year, with more landlords selling up and first homebuyers coming into the market.

Nationally the rental vacancy rate tightened a little in October to just 1.2 per cent. 

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P.S. Whenever you’re ready…here are 5 ways I can help you manage your own money and go next level wealth:

1. Boom or Bust – 20 minute online workshop for investors

Register for my next free online training - Boom or Bust? How to change your investment plan - book in here

You also download a free copy of my e-book The Only 6 Ways to Become Wealthy here.

    2. Download our property buying guide

Download our free property buying guide here. 

You can also check out a few of our recent property investment purchases here. 

Get in contact with us today if strategic property investment is your thing. 

    3. Subscribe to our Top 10 Podcasts for Investors

Listen in to our podcasts

The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with well over 50,000 audio downloads per month, and growing fast.

And our popular Low Rates High Returns Show also remains available on Spotify.

    4. Subscribe for my free daily blog

Subscribe for my free daily blog with some 3.7 million hits here. 

You can also catch up with me daily on Twitter here, where I'm active daily and have over 14,600 followers. 

By the way, I'm an 8-times published author on finance and investing, so you can check out some of my books here.

My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - follow our book release on Facebook here and at our Buy Right podcast series here. 

5. Work with me privately

For a limited time you can book in a free diagnosis call with me here, so book in a call today.

2-Sense: This is what Trump’s clean sweep means for markets

2-Sense podcast

This week, Chris and I considered the US election result and what it means for markets.

Tune in here (or click on the image below):

You can also watch the YouTube version here:

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P.S. Whenever you’re ready…here are 5 ways I can help you manage your own money and go next level wealth:

1. Boom or Bust – 20 minute online workshop for investors

Register for my next free online training - Boom or Bust? How to change your investment plan - book in here

You also download a free copy of my e-book The Only 6 Ways to Become Wealthy here.

    2. Download our property buying guide

Download our free property buying guide here. 

You can also check out a few of our recent property investment purchases here. 

Get in contact with us today if strategic property investment is your thing. 

    3. Subscribe to our Top 10 Podcasts for Investors

Listen in to our podcasts

The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with well over 50,000 audio downloads per month, and growing fast.

And our popular Low Rates High Returns Show also remains available on Spotify.

    4. Subscribe for my free daily blog

Subscribe for my free daily blog with some 3.7 million hits here. 

You can also catch up with me daily on Twitter here, where I'm active daily and have over 14,600 followers. 

By the way, I'm an 8-times published author on finance and investing, so you can check out some of my books here.

My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - follow our book release on Facebook here and at our Buy Right podcast series here. 

5. Work with me privately

For a limited time you can book in a free diagnosis call with me here, so book in a call today.