February 9, 2025 • 17 mins
- Peggy McAlister, licensed agent at My Agent provides a South Coast property update
- Dave Friend, Director and Mortgage Broker at Tiffen and Co shares the latest tips on saving for a home deposit
- The Corelogic Hedonic Home Value Index was published this week. Kate Billson, Sales Agent at Windrose Property placed a local lens on this national report
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Cameron Renee's real Estate show on Mix one oh six
point three be the Envy of Camera Live in de
Burg at Northbourne Village by JW. Land now selling.
Speaker 2 (00:10):
Well once again Renee another oneful morning of real estate
on the radio. Saturday just gone and we get to
relive it all through our podcast here.
Speaker 3 (00:18):
Yeah. Indeed.
Speaker 4 (00:18):
And one thing we're exploring is, of course, that fantastic
Zango comp they've got running that's going to be announced
to Skyfi, the opportunity for someone to win twenty five
grand towards a home deposit, which is massive. So as
part of that, we thought, you know, we'd explore saving
for a home deposit and what schemes are involved and
what that all looks like.
Speaker 3 (00:37):
Yeah.
Speaker 2 (00:37):
Absolutely, and this is just one of the parts that
we're doing between now and Skyfire every Saturday morning, we're
going to explore different elements of saving for a home deposit,
first home buyers, all that sort of information that is,
I mean, it's easy to get, but it's also hard
to understand because it's just so much. It is so
our job to unpack it. We've also got the core
(00:58):
logic Hedonic Home Report was released through the week as well.
Speaker 4 (01:01):
Yes, and every time that comes out, we like to
get a local perspective on what that means for us
here locally, which we're doing, and we're heading to the
South Coast cam to get a property update because Peggy,
our South Coast go to real estate agent hasn't been
on the show since last year.
Speaker 3 (01:15):
Yeah.
Speaker 2 (01:15):
Absolutely, Peggy McAllister license agent at my agent, joins us
once again and we have a look at some of
the numbers because you know what it's like, right, So
holiday time there's loads and loads of visitors on the
coast and you drive down any main street of any
of the little towns, there's always a real estate agent
with people crowded around the window just gawking at the
(01:38):
property for sale.
Speaker 5 (01:38):
Yeah, for sure.
Speaker 4 (01:39):
We were down the coast about three or four weeks
ago and there's lots of for sale signs doing the rounds,
that's for sure, and we were sticky picking ourselves at those.
So we're going to find out more about that and
what's happening at the South Coast.
Speaker 3 (01:49):
Okay, so she'll get into it, Yes, do it.
Speaker 2 (01:51):
Let's go enjoy the podcast. Mix one O six point three.
Speaker 4 (01:55):
Well, I went to the coast with my family met
three or four weeks ago.
Speaker 1 (01:59):
Cam.
Speaker 4 (02:00):
It seems like there was a bit As we're just
you know, driving around, it seemed like there was a
bit doing you know, with lot lots of for sale
signs after it's a bit happening down there. So we're
getting get a bit of a breakdown on what that
all looks like. We like to check in with our
South Coast correspondence regularly, and of course that is Peggy McCallister,
license agent at my agent. Hey, Peggy, and welcome back
(02:20):
to the show.
Speaker 5 (02:20):
For the year. And good morning guys. It's so good
to be back on the show.
Speaker 4 (02:25):
Yes, and can you give us a sense of what's
happening with property on the coast at the moment.
Speaker 5 (02:30):
Yeah, Well, we've started off the year on a really
sort of positive note. We've actually had I was telling
up some things just to go over with you guys yesterday.
Speaker 3 (02:38):
We've actually had sixty.
Speaker 5 (02:39):
Seven properties exchange from the start of January.
Speaker 2 (02:43):
Well, then that's just with your agency alone, is that correct.
Speaker 5 (02:47):
I'd love to say that that is true, but no,
that is across the Bateman's Bay region.
Speaker 3 (02:51):
Okay, yeah, yep, yep.
Speaker 5 (02:52):
Still that's this and so that's pretty much mostly just
for January, which is quite a big number for us
down here, and it's just the Bateman's Bay region, so
it doesn't include you know, further down south yep.
Speaker 3 (03:02):
Okay, Yeah, quite a good start.
Speaker 2 (03:03):
And so that was exactly, you know, I thought we
must get you on early on in the year, because
as Renee said, she's been down the coast, there's always
thousands of tourists staring into real estate shopfront windows while
on holidays. I've done that as well, and you stand
there and yes, you can do it online these days
as well, of course, but so a same Yeah, it
really isn't so is much property actually sold over the
(03:24):
break as a result of people coming into the influx
of people into the era.
Speaker 5 (03:28):
Look, I have noticed that, you know, the market that
we're in now is more of what we call a
sort of a stable market.
Speaker 3 (03:34):
It's a bit of a quieter market.
Speaker 5 (03:35):
So when we're in these quieter market conditions down here,
people will time in their real estating with their travel
arrangements because they're not as concerned that they're going to
miss out. So it does become a little bit more seasonal.
If they've got a weekend plans, they'll do their house
hunting then, rather than rushing down because they think we've
got to get there this weekend. Are we going to
(03:56):
miss out on that house? So there's a lot more
holidaying and looking at real estate rather than just coming
down for a quick trip to see a house.
Speaker 3 (04:03):
Yeah, of course.
Speaker 4 (04:04):
And is there a particular hot spot on the coast
there that people are interested in?
Speaker 5 (04:09):
Look, it's really hard to say because it is really personal.
I think the different areas I think you know still
you know that Browley area is you know Browleie Tomicin
seems to be still getting the highest sort of on
average sale prices, does seem to still be very popular
with a lot of people, especially people moving into the
area Browley and Tomkin because you've got a lot of
the schools concentrated in around Browlei, So families moving into
(04:33):
the area tend to want to be around that region.
Speaker 3 (04:36):
So that their kids are close to the schools.
Speaker 2 (04:38):
Yeah, all right, And every time we speak to you,
of course, you've always come to us with a special
place that you want to give a mention too.
Speaker 3 (04:44):
So what do you got for us?
Speaker 5 (04:45):
I've got a beautiful house at twenty three Biguri Crescent
in Malua Bay. Malua Bay is really fast becoming the
next suburb that is sought after after that sort of
Browleie tomicin. So this house is only just over year
old and it's just it's a bit higher speck than
your standard new home in the area. So it's a
(05:06):
beautiful house and nearly two hundred and eighty swimmeters. The
house to quite large. It would suit either a family
or retiree because it does have entry level and east
steerless throughout the living but some really good features. You've
got a theater room, four bedrooms, plus a home office,
separate living area with high school and roof, big entertaining deck,
(05:27):
modern kitchen and a butler's pantry. It's actually open today
at one thirty.
Speaker 2 (05:32):
So yeah, yeah, all right, well online absolutely in Milua Bay.
Speaker 3 (05:37):
Of course it's beautiful.
Speaker 2 (05:38):
However, an apology must come to the good residents of
the local area down there. My daughter Matilda, she was
on Coasty's at the end of last year and there
was a group of them. I think that the Milure
Bay Facebook residence group were very unhappy with some of.
Speaker 5 (05:52):
Them and that they were having too much fun.
Speaker 4 (06:00):
Oh yeah, well all right, Peggy will it's lovely to
catch up with you as always and we'll get you
back on the show and catch up again soon.
Speaker 3 (06:08):
Sound a great.
Speaker 5 (06:08):
Guys, have a great day.
Speaker 4 (06:10):
To Peggy McAllister from my agent. Their goodness. When you
know when the online community groups get involved, then they
mean business.
Speaker 2 (06:17):
You're in trouble.
Speaker 6 (06:18):
Yep, you're in trouble.
Speaker 3 (06:19):
Well.
Speaker 4 (06:19):
Zengo is partnering up with Skyfire this year can which
is awesome and as part of that, they're giving people
the opportunity to win twenty five thousand dollars for a
first home deposit, which is great, and that winner is
going to be announced at Skyfire.
Speaker 2 (06:33):
Which is cool within itself. Right, It is all thedetails, ango,
dot com, dot au. Everything that you need to know
about what they're doing is right there. In fact, as
soon as you click on that website you can see it.
Speaker 3 (06:43):
It pops up.
Speaker 4 (06:43):
Yeah yeah, so I mean more an awesome price that's
life changing if whoever gets that, so make sure you're
in the running for that. But we thought in the
lead up to Skyfire, we're going to explore a bunch
of different first home buyer topics to get us in the.
Speaker 2 (06:55):
Mood for it, and we sort of we touched on
this a couple of years ago, but this gives us
more of an opportunity to sort of dig down a
little deeper.
Speaker 4 (07:02):
Yes, indeed, and today we're going to look at saving
for a home deposit, because I guess that's one of
the very first steps in the whole process, isn't it correct?
And day friend is director and mortgage broker at Tiffin
and Co joins us. Now, Hi, Dave, Hi, how are
you good? Thank you? Now, look what incentive schemes are
there in Canberra for first home buyers.
Speaker 3 (07:21):
At the moment, there's two main schemes. Ones the stamp
duty concession scheme the government offers so for purchases up
to a million dollars you don't have to pay stamp
duty if you qualify for that scheme, which is a
good incentive in itself. It is means tested by income,
(07:42):
so household income up to about two hundred and fifty thousand.
And then you've also got the first home Buyers Deposit scheme,
where providing you've got a five percent deposit in genuine savings,
the government will step in and guarantee your loan. So
you avoid paying mortgage insurance.
Speaker 2 (08:01):
And are those two platforms or those two opportunities are
they enough?
Speaker 3 (08:04):
Are they good enough? Do you think? I think they
give first home buyers a really good step up into
the market. I guess if there's one point of contention there,
it's the price point to get in is maxed out
at seven hundred and fifty thousand. There are limited properties
at that price point, but you know, for first home buyers,
maybe they could increase that price a little bit to
(08:27):
allow people to have a bit more scope with the
properties they could buy under the scheme. But I think
it's a pretty good incentive from the government with stamp
duty and mortgage insurance waivers potentially there.
Speaker 4 (08:37):
Yeah, and anything helps, you know, absolutely. And Dave, we
obviously read and see a lot of stories in the
media about how hard it is impossible for first home
buyers to break into the market. Is that true, Like,
is it completely out of reach?
Speaker 3 (08:55):
I don't think so. I mean, we're doing a lot
of pre approvals for first home buyers at the moment.
I think confidence has come back into the market and
if anything, after all the rate rises we had over
the last two or three years, people are now more
comfortable with where rates are when they apply for a loan,
they've got that buffer still built in that the banks
(09:17):
have to put in there. So really, if they're spending,
is what they tell us it is, they should be
quite comfortable with the mortgage rey payments they've got. And
we're seeing that confidence coming back and more so now.
Speaker 2 (09:28):
I suppose if there is going to be a reduction
in rates like they're sort of talking about in the
coming weeks and next week, you know, there's almost a
little bit more wiggle room there isn't there.
Speaker 3 (09:39):
Yeah, And I think that's what people are poisoning themselves for,
Like people are getting ready to jump when the rates
do start to come down. You know, talking to agents,
they've got a lot of people going through open homes now.
So yeah, the first home buyers are definitely out there
in numbers looking.
Speaker 4 (09:54):
To buy, Yeah, for sure. And Dave, what's the number
one thing you say to for turn buyers who are
trying to get a home and save up?
Speaker 3 (10:04):
Look, it's really set a budget, work out your lifestyle
and spending habits. If people are if first time buyers
are looking at a budget based on a purchase price approach,
your broker or your bank and preferably your broker and
work out what those repayments are going to be and
then you can start a saving pattern that will kick
you into the mortgage when you start, and it won't
(10:27):
change your lifestyle too much.
Speaker 4 (10:28):
Yeah, one hundred percent. It's all about being prepared as
much as you can. Well Dave some great advice there.
Thank you so much for your time this morning.
Speaker 3 (10:35):
Thanks very thanks Cam. How can I thank you?
Speaker 4 (10:36):
Have a great weekend, our day friend, director and mortgage
broker at Tipping.
Speaker 2 (10:40):
And coach Well Cam.
Speaker 4 (10:41):
Each week, sorry, each month rather or so, the core
Logic Hedonic Home Value Index comes out. It gives us
all the stats of where our property wise and we'd
love to get a Canberra perspective, a local look at
what that means for us here.
Speaker 2 (10:54):
Yeah, and I mean it's a very well respected report
and I love the team, love the fact that the
team at Windows, like Sam and Laws and everyone they
put this report together that really digs down of focuses
on Camera and the Capital region.
Speaker 4 (11:07):
Indeed, because we want to know what doesn't mean for us.
And Kate Bilson, Sound's agent at Winrows Property joins us
this morning to give us some of those details.
Speaker 6 (11:15):
Good morning Kate, Good morning Renee, Good morning can and
good morning joy listeners.
Speaker 4 (11:19):
Thank you. Now, look, can you give us a bit
of an overview of the Camera market as seen in
this report.
Speaker 6 (11:24):
Yeah, look, I think the report's really quite interesting. There's
two areas there I think we really need to focus on.
One of the things is it shows in the report
from earlier this week that the Canberra property value so
Camera property value prices have dipped by point five prevent
in January to a median dwelling of one hundred and
fifty and a half full of thousand dollars. Right, So
(11:46):
we've seen that number has slightly come back. And if
you compare that with Melbourne which was at zero point
six of the jop in value and Sydney which was
at point four of a drop in value, you know,
it's kind of the same along this part of the
coast of Australia or you know, this part of Australia.
What I do think is actually something we need to
hone in on though, is even though we've had a
half a percent reduction in values, we've actually had the
(12:09):
busiest December January period than what we've seen or in
some years, in those specific months and when the market
traditionally quietens down at that time of the year and
people go on leave and agents generally don't open up
for January. We've actually seen the biggest increase in our
market year on year than what's been sort of obvious
(12:30):
in years gone by, And I think that's just a
reflection on where people's mindset is that and whilst the
index report is sort of showing that we've had a
drop in value by point fist percent, we're actually finding
that the vendors are more likely to come and meet
the market at the moment in the hope to move
their properties before that rush comes that we are all
(12:51):
hopeful and expecting is going to happen during the course
of twenty twenty five.
Speaker 2 (12:54):
Yeah, and of course you guys post this on to
your website as well. And I was reading the website
overnight Sam McGregor, who we usually speak to, and I'm
going to read this quote because it captures what you
have just said beautifully. Says, quote unquote, we've seen more
transactions between December and January than the collective the collective
six months before that. So that includes five deals on
(13:19):
the last business day of the year for twenty and
twenty four when everyone was meant to be winding down
for Christmas Quoe unquote.
Speaker 3 (13:26):
That's what exactly.
Speaker 2 (13:27):
So over those two months it was better than the
second half of last year, which is incredible.
Speaker 6 (13:32):
Yeah, it was incredible and something that we really felt.
We almost didn't expect it. You know, you kind of
expect the market to wind down, and we actually had
completely the opposite, and that last week of business before
everybody where it's nut I mean highly technical term is not.
Speaker 4 (13:48):
Yeah, yes, that's very technical.
Speaker 6 (13:50):
Es Yeah, sorry about that. And we all sort of
fell with a heap afterwards and sort of what just happened?
And you know, you do that three months sort of
review where stock levels are up totty percent, you're on
year in spring, and we didn't see that downward pressure
on prices. I think it just actually does demonstrate and
reinforces what you know, Sam was saying, and we love
Sam and I'm sorry he's not with you guys this morning,
(14:12):
but this has continued into January and we're seeing it
well on into February.
Speaker 3 (14:16):
Yeah.
Speaker 4 (14:17):
Absolutely, And this may be what you've already described, but
what is the number one thing you're hearing on the
street at the moment.
Speaker 6 (14:24):
I think there's two things always. The number one thing
is you know, when's a good time to sell? I
think we all know that's the number one thing we
hear on the street. But everyone's they're all heading their
about from what's going to happen in the next couple
of weeks when the reserve banks needs and what that's
going to do to the market. And I think that's
the biggest question I'm personally being asked on the ground
at the moment, is when's that interest rates going to
happen and what's that going to do to the market.
(14:46):
And I think there are two things that are keeping
our buyers if you're like almost sitting on the fence,
and it's also keeping our sellars just sitting on the
fence as well. They're like, oh, do we go now?
Do we go next month? Are we go in two months?
And I think there's just this little balance thing going
on between, you know, buyers and sellers that lends a
good time to buy and when's good time to sell.
Speaker 2 (15:05):
And it's interesting from the buyers perspective because sure you're buying,
but then you also have to go you know you're
sorry the selling, Yes, you're selling, but then you have
to go and buy something as well, don't you Exactly right?
Speaker 6 (15:16):
And I just said this to some people at an
open this morning that you know, if you fall in
love with something, now are you ready to put your
house on the market. And you know, if you if
you hit that emotional trigger that you know someone walks
in and goes, oh my god, I want your house,
you are potentially three or four weeks away from putting
your own house on the market and going through all
that stress. So I do often say to people, look,
(15:37):
make sure you've got all your duck lined up, make
sure you've got a social of your contract done, make
sure everything's ready to go. Then come shopping. If you
find something you love, you can hit that point and
that trigger point not to go.
Speaker 4 (15:45):
One hundred percent? All right, Kate, Well, thanks so much.
It was great to have you on the show with
us this morning, and have a great weekend.
Speaker 6 (15:52):
Thank you you two, and to all your listeners, thanks
for having me.
Speaker 4 (15:55):
Thanks so much. Kate Bilson Sound's agent at wind Rows Property.
And speaking of wind Rows, they've listed four Winds Vineyard
in my embatement, how good is that.
Speaker 2 (16:03):
Look, I had a little whisper that this was coming
up as well.
Speaker 4 (16:06):
Yes, and they've won the stack of awards. I think
that their charatz is pretty special and they're they're iconic
pizzas at which they still ran. O Rod from camera
up to in the afternoon was telling us that four
winds still were put pumping those out during COVID. That's right,
and helped a lot of people in the area during
COVID as well. So an awesome opportunity everyone cam interested.
Speaker 2 (16:29):
I wish.
Speaker 3 (16:30):
Yeah.
Speaker 2 (16:30):
I mean, the thing is like wineries are incredible, but
you have to have a huge range of talents will
be able to oversee.
Speaker 3 (16:37):
You've got to you got to be a farmer.
Speaker 2 (16:39):
You got to be a scientist because making wine is
about science. You've got to be a business person. You've
got to be a marketer. You've got to be a
host for if your hosting the celet, You've got to
have all these qualities. So this is why our local
wine area and the fact that it's doing so good
on not just local but national and then the international
(17:00):
safe all with these amazing people that bring all these
talents together that make beautiful wine. It's pretty special.
Speaker 4 (17:08):
It is a little interesting to see, you know, who
buys his place and what they do with it.
Speaker 2 (17:12):
Well, those are the interviews we most enjoyed in last
week's Mix one O six point three real Estate Show.
If you love hearing about the latest trends, or you're
just up for a sticky beak, be sure to drop
by for a listen this Saturday between nine
Speaker 1 (17:25):
And ten Cam and Rene's Real Estate Show on Mix
one O six point three
Cameron Renee's real Estate show on Mix one oh six
point three be the Envy of Camera Live in de
Burg at Northbourne Village by JW. Land now selling.
Speaker 2 (00:10):
Well once again Renee another oneful morning of real estate
on the radio. Saturday just gone and we get to
relive it all through our podcast here.
Speaker 3 (00:18):
Yeah. Indeed.
Speaker 4 (00:18):
And one thing we're exploring is, of course, that fantastic
Zango comp they've got running that's going to be announced
to Skyfi, the opportunity for someone to win twenty five
grand towards a home deposit, which is massive. So as
part of that, we thought, you know, we'd explore saving
for a home deposit and what schemes are involved and
what that all looks like.
Speaker 3 (00:37):
Yeah.
Speaker 2 (00:37):
Absolutely, and this is just one of the parts that
we're doing between now and Skyfire every Saturday morning, we're
going to explore different elements of saving for a home deposit,
first home buyers, all that sort of information that is,
I mean, it's easy to get, but it's also hard
to understand because it's just so much. It is so
our job to unpack it. We've also got the core
(00:58):
logic Hedonic Home Report was released through the week as well.
Speaker 4 (01:01):
Yes, and every time that comes out, we like to
get a local perspective on what that means for us
here locally, which we're doing, and we're heading to the
South Coast cam to get a property update because Peggy,
our South Coast go to real estate agent hasn't been
on the show since last year.
Speaker 3 (01:15):
Yeah.
Speaker 2 (01:15):
Absolutely, Peggy McAllister license agent at my agent, joins us
once again and we have a look at some of
the numbers because you know what it's like, right, So
holiday time there's loads and loads of visitors on the
coast and you drive down any main street of any
of the little towns, there's always a real estate agent
with people crowded around the window just gawking at the
(01:38):
property for sale.
Speaker 5 (01:38):
Yeah, for sure.
Speaker 4 (01:39):
We were down the coast about three or four weeks
ago and there's lots of for sale signs doing the rounds,
that's for sure, and we were sticky picking ourselves at those.
So we're going to find out more about that and
what's happening at the South Coast.
Speaker 3 (01:49):
Okay, so she'll get into it, Yes, do it.
Speaker 2 (01:51):
Let's go enjoy the podcast. Mix one O six point three.
Speaker 4 (01:55):
Well, I went to the coast with my family met
three or four weeks ago.
Speaker 1 (01:59):
Cam.
Speaker 4 (02:00):
It seems like there was a bit As we're just
you know, driving around, it seemed like there was a
bit doing you know, with lot lots of for sale
signs after it's a bit happening down there. So we're
getting get a bit of a breakdown on what that
all looks like. We like to check in with our
South Coast correspondence regularly, and of course that is Peggy McCallister,
license agent at my agent. Hey, Peggy, and welcome back
(02:20):
to the show.
Speaker 5 (02:20):
For the year. And good morning guys. It's so good
to be back on the show.
Speaker 4 (02:25):
Yes, and can you give us a sense of what's
happening with property on the coast at the moment.
Speaker 5 (02:30):
Yeah, Well, we've started off the year on a really
sort of positive note. We've actually had I was telling
up some things just to go over with you guys yesterday.
Speaker 3 (02:38):
We've actually had sixty.
Speaker 5 (02:39):
Seven properties exchange from the start of January.
Speaker 2 (02:43):
Well, then that's just with your agency alone, is that correct.
Speaker 5 (02:47):
I'd love to say that that is true, but no,
that is across the Bateman's Bay region.
Speaker 3 (02:51):
Okay, yeah, yep, yep.
Speaker 5 (02:52):
Still that's this and so that's pretty much mostly just
for January, which is quite a big number for us
down here, and it's just the Bateman's Bay region, so
it doesn't include you know, further down south yep.
Speaker 3 (03:02):
Okay, Yeah, quite a good start.
Speaker 2 (03:03):
And so that was exactly, you know, I thought we
must get you on early on in the year, because
as Renee said, she's been down the coast, there's always
thousands of tourists staring into real estate shopfront windows while
on holidays. I've done that as well, and you stand
there and yes, you can do it online these days
as well, of course, but so a same Yeah, it
really isn't so is much property actually sold over the
(03:24):
break as a result of people coming into the influx
of people into the era.
Speaker 5 (03:28):
Look, I have noticed that, you know, the market that
we're in now is more of what we call a
sort of a stable market.
Speaker 3 (03:34):
It's a bit of a quieter market.
Speaker 5 (03:35):
So when we're in these quieter market conditions down here,
people will time in their real estating with their travel
arrangements because they're not as concerned that they're going to
miss out. So it does become a little bit more seasonal.
If they've got a weekend plans, they'll do their house
hunting then, rather than rushing down because they think we've
got to get there this weekend. Are we going to
(03:56):
miss out on that house? So there's a lot more
holidaying and looking at real estate rather than just coming
down for a quick trip to see a house.
Speaker 3 (04:03):
Yeah, of course.
Speaker 4 (04:04):
And is there a particular hot spot on the coast
there that people are interested in?
Speaker 5 (04:09):
Look, it's really hard to say because it is really personal.
I think the different areas I think you know still
you know that Browley area is you know Browleie Tomicin
seems to be still getting the highest sort of on
average sale prices, does seem to still be very popular
with a lot of people, especially people moving into the
area Browley and Tomkin because you've got a lot of
the schools concentrated in around Browlei, So families moving into
(04:33):
the area tend to want to be around that region.
Speaker 3 (04:36):
So that their kids are close to the schools.
Speaker 2 (04:38):
Yeah, all right, And every time we speak to you,
of course, you've always come to us with a special
place that you want to give a mention too.
Speaker 3 (04:44):
So what do you got for us?
Speaker 5 (04:45):
I've got a beautiful house at twenty three Biguri Crescent
in Malua Bay. Malua Bay is really fast becoming the
next suburb that is sought after after that sort of
Browleie tomicin. So this house is only just over year
old and it's just it's a bit higher speck than
your standard new home in the area. So it's a
(05:06):
beautiful house and nearly two hundred and eighty swimmeters. The
house to quite large. It would suit either a family
or retiree because it does have entry level and east
steerless throughout the living but some really good features. You've
got a theater room, four bedrooms, plus a home office,
separate living area with high school and roof, big entertaining deck,
(05:27):
modern kitchen and a butler's pantry. It's actually open today
at one thirty.
Speaker 2 (05:32):
So yeah, yeah, all right, well online absolutely in Milua Bay.
Speaker 3 (05:37):
Of course it's beautiful.
Speaker 2 (05:38):
However, an apology must come to the good residents of
the local area down there. My daughter Matilda, she was
on Coasty's at the end of last year and there
was a group of them. I think that the Milure
Bay Facebook residence group were very unhappy with some of.
Speaker 5 (05:52):
Them and that they were having too much fun.
Speaker 4 (06:00):
Oh yeah, well all right, Peggy will it's lovely to
catch up with you as always and we'll get you
back on the show and catch up again soon.
Speaker 3 (06:08):
Sound a great.
Speaker 5 (06:08):
Guys, have a great day.
Speaker 4 (06:10):
To Peggy McAllister from my agent. Their goodness. When you
know when the online community groups get involved, then they
mean business.
Speaker 2 (06:17):
You're in trouble.
Speaker 6 (06:18):
Yep, you're in trouble.
Speaker 3 (06:19):
Well.
Speaker 4 (06:19):
Zengo is partnering up with Skyfire this year can which
is awesome and as part of that, they're giving people
the opportunity to win twenty five thousand dollars for a
first home deposit, which is great, and that winner is
going to be announced at Skyfire.
Speaker 2 (06:33):
Which is cool within itself. Right, It is all thedetails, ango,
dot com, dot au. Everything that you need to know
about what they're doing is right there. In fact, as
soon as you click on that website you can see it.
Speaker 3 (06:43):
It pops up.
Speaker 4 (06:43):
Yeah yeah, so I mean more an awesome price that's
life changing if whoever gets that, so make sure you're
in the running for that. But we thought in the
lead up to Skyfire, we're going to explore a bunch
of different first home buyer topics to get us in the.
Speaker 2 (06:55):
Mood for it, and we sort of we touched on
this a couple of years ago, but this gives us
more of an opportunity to sort of dig down a
little deeper.
Speaker 4 (07:02):
Yes, indeed, and today we're going to look at saving
for a home deposit, because I guess that's one of
the very first steps in the whole process, isn't it correct?
And day friend is director and mortgage broker at Tiffin
and Co joins us. Now, Hi, Dave, Hi, how are
you good? Thank you? Now, look what incentive schemes are
there in Canberra for first home buyers.
Speaker 3 (07:21):
At the moment, there's two main schemes. Ones the stamp
duty concession scheme the government offers so for purchases up
to a million dollars you don't have to pay stamp
duty if you qualify for that scheme, which is a
good incentive in itself. It is means tested by income,
(07:42):
so household income up to about two hundred and fifty thousand.
And then you've also got the first home Buyers Deposit scheme,
where providing you've got a five percent deposit in genuine savings,
the government will step in and guarantee your loan. So
you avoid paying mortgage insurance.
Speaker 2 (08:01):
And are those two platforms or those two opportunities are
they enough?
Speaker 3 (08:04):
Are they good enough? Do you think? I think they
give first home buyers a really good step up into
the market. I guess if there's one point of contention there,
it's the price point to get in is maxed out
at seven hundred and fifty thousand. There are limited properties
at that price point, but you know, for first home buyers,
maybe they could increase that price a little bit to
(08:27):
allow people to have a bit more scope with the
properties they could buy under the scheme. But I think
it's a pretty good incentive from the government with stamp
duty and mortgage insurance waivers potentially there.
Speaker 4 (08:37):
Yeah, and anything helps, you know, absolutely. And Dave, we
obviously read and see a lot of stories in the
media about how hard it is impossible for first home
buyers to break into the market. Is that true, Like,
is it completely out of reach?
Speaker 3 (08:55):
I don't think so. I mean, we're doing a lot
of pre approvals for first home buyers at the moment.
I think confidence has come back into the market and
if anything, after all the rate rises we had over
the last two or three years, people are now more
comfortable with where rates are when they apply for a loan,
they've got that buffer still built in that the banks
(09:17):
have to put in there. So really, if they're spending,
is what they tell us it is, they should be
quite comfortable with the mortgage rey payments they've got. And
we're seeing that confidence coming back and more so now.
Speaker 2 (09:28):
I suppose if there is going to be a reduction
in rates like they're sort of talking about in the
coming weeks and next week, you know, there's almost a
little bit more wiggle room there isn't there.
Speaker 3 (09:39):
Yeah, And I think that's what people are poisoning themselves for,
Like people are getting ready to jump when the rates
do start to come down. You know, talking to agents,
they've got a lot of people going through open homes now.
So yeah, the first home buyers are definitely out there
in numbers looking.
Speaker 4 (09:54):
To buy, Yeah, for sure. And Dave, what's the number
one thing you say to for turn buyers who are
trying to get a home and save up?
Speaker 3 (10:04):
Look, it's really set a budget, work out your lifestyle
and spending habits. If people are if first time buyers
are looking at a budget based on a purchase price approach,
your broker or your bank and preferably your broker and
work out what those repayments are going to be and
then you can start a saving pattern that will kick
you into the mortgage when you start, and it won't
(10:27):
change your lifestyle too much.
Speaker 4 (10:28):
Yeah, one hundred percent. It's all about being prepared as
much as you can. Well Dave some great advice there.
Thank you so much for your time this morning.
Speaker 3 (10:35):
Thanks very thanks Cam. How can I thank you?
Speaker 4 (10:36):
Have a great weekend, our day friend, director and mortgage
broker at Tipping.
Speaker 2 (10:40):
And coach Well Cam.
Speaker 4 (10:41):
Each week, sorry, each month rather or so, the core
Logic Hedonic Home Value Index comes out. It gives us
all the stats of where our property wise and we'd
love to get a Canberra perspective, a local look at
what that means for us here.
Speaker 2 (10:54):
Yeah, and I mean it's a very well respected report
and I love the team, love the fact that the
team at Windows, like Sam and Laws and everyone they
put this report together that really digs down of focuses
on Camera and the Capital region.
Speaker 4 (11:07):
Indeed, because we want to know what doesn't mean for us.
And Kate Bilson, Sound's agent at Winrows Property joins us
this morning to give us some of those details.
Speaker 6 (11:15):
Good morning Kate, Good morning Renee, Good morning can and
good morning joy listeners.
Speaker 4 (11:19):
Thank you. Now, look, can you give us a bit
of an overview of the Camera market as seen in
this report.
Speaker 6 (11:24):
Yeah, look, I think the report's really quite interesting. There's
two areas there I think we really need to focus on.
One of the things is it shows in the report
from earlier this week that the Canberra property value so
Camera property value prices have dipped by point five prevent
in January to a median dwelling of one hundred and
fifty and a half full of thousand dollars. Right, So
(11:46):
we've seen that number has slightly come back. And if
you compare that with Melbourne which was at zero point
six of the jop in value and Sydney which was
at point four of a drop in value, you know,
it's kind of the same along this part of the
coast of Australia or you know, this part of Australia.
What I do think is actually something we need to
hone in on though, is even though we've had a
half a percent reduction in values, we've actually had the
(12:09):
busiest December January period than what we've seen or in
some years, in those specific months and when the market
traditionally quietens down at that time of the year and
people go on leave and agents generally don't open up
for January. We've actually seen the biggest increase in our
market year on year than what's been sort of obvious
(12:30):
in years gone by, And I think that's just a
reflection on where people's mindset is that and whilst the
index report is sort of showing that we've had a
drop in value by point fist percent, we're actually finding
that the vendors are more likely to come and meet
the market at the moment in the hope to move
their properties before that rush comes that we are all
(12:51):
hopeful and expecting is going to happen during the course
of twenty twenty five.
Speaker 2 (12:54):
Yeah, and of course you guys post this on to
your website as well. And I was reading the website
overnight Sam McGregor, who we usually speak to, and I'm
going to read this quote because it captures what you
have just said beautifully. Says, quote unquote, we've seen more
transactions between December and January than the collective the collective
six months before that. So that includes five deals on
(13:19):
the last business day of the year for twenty and
twenty four when everyone was meant to be winding down
for Christmas Quoe unquote.
Speaker 3 (13:26):
That's what exactly.
Speaker 2 (13:27):
So over those two months it was better than the
second half of last year, which is incredible.
Speaker 6 (13:32):
Yeah, it was incredible and something that we really felt.
We almost didn't expect it. You know, you kind of
expect the market to wind down, and we actually had
completely the opposite, and that last week of business before
everybody where it's nut I mean highly technical term is not.
Speaker 4 (13:48):
Yeah, yes, that's very technical.
Speaker 6 (13:50):
Es Yeah, sorry about that. And we all sort of
fell with a heap afterwards and sort of what just happened?
And you know, you do that three months sort of
review where stock levels are up totty percent, you're on
year in spring, and we didn't see that downward pressure
on prices. I think it just actually does demonstrate and
reinforces what you know, Sam was saying, and we love
Sam and I'm sorry he's not with you guys this morning,
(14:12):
but this has continued into January and we're seeing it
well on into February.
Speaker 3 (14:16):
Yeah.
Speaker 4 (14:17):
Absolutely, And this may be what you've already described, but
what is the number one thing you're hearing on the
street at the moment.
Speaker 6 (14:24):
I think there's two things always. The number one thing
is you know, when's a good time to sell? I
think we all know that's the number one thing we
hear on the street. But everyone's they're all heading their
about from what's going to happen in the next couple
of weeks when the reserve banks needs and what that's
going to do to the market. And I think that's
the biggest question I'm personally being asked on the ground
at the moment, is when's that interest rates going to
happen and what's that going to do to the market.
(14:46):
And I think there are two things that are keeping
our buyers if you're like almost sitting on the fence,
and it's also keeping our sellars just sitting on the
fence as well. They're like, oh, do we go now?
Do we go next month? Are we go in two months?
And I think there's just this little balance thing going
on between, you know, buyers and sellers that lends a
good time to buy and when's good time to sell.
Speaker 2 (15:05):
And it's interesting from the buyers perspective because sure you're buying,
but then you also have to go you know you're
sorry the selling, Yes, you're selling, but then you have
to go and buy something as well, don't you Exactly right?
Speaker 6 (15:16):
And I just said this to some people at an
open this morning that you know, if you fall in
love with something, now are you ready to put your
house on the market. And you know, if you if
you hit that emotional trigger that you know someone walks
in and goes, oh my god, I want your house,
you are potentially three or four weeks away from putting
your own house on the market and going through all
that stress. So I do often say to people, look,
(15:37):
make sure you've got all your duck lined up, make
sure you've got a social of your contract done, make
sure everything's ready to go. Then come shopping. If you
find something you love, you can hit that point and
that trigger point not to go.
Speaker 4 (15:45):
One hundred percent? All right, Kate, Well, thanks so much.
It was great to have you on the show with
us this morning, and have a great weekend.
Speaker 6 (15:52):
Thank you you two, and to all your listeners, thanks
for having me.
Speaker 4 (15:55):
Thanks so much. Kate Bilson Sound's agent at wind Rows Property.
And speaking of wind Rows, they've listed four Winds Vineyard
in my embatement, how good is that.
Speaker 2 (16:03):
Look, I had a little whisper that this was coming
up as well.
Speaker 4 (16:06):
Yes, and they've won the stack of awards. I think
that their charatz is pretty special and they're they're iconic
pizzas at which they still ran. O Rod from camera
up to in the afternoon was telling us that four
winds still were put pumping those out during COVID. That's right,
and helped a lot of people in the area during
COVID as well. So an awesome opportunity everyone cam interested.
Speaker 2 (16:29):
I wish.
Speaker 3 (16:30):
Yeah.
Speaker 2 (16:30):
I mean, the thing is like wineries are incredible, but
you have to have a huge range of talents will
be able to oversee.
Speaker 3 (16:37):
You've got to you got to be a farmer.
Speaker 2 (16:39):
You got to be a scientist because making wine is
about science. You've got to be a business person. You've
got to be a marketer. You've got to be a
host for if your hosting the celet, You've got to
have all these qualities. So this is why our local
wine area and the fact that it's doing so good
on not just local but national and then the international
(17:00):
safe all with these amazing people that bring all these
talents together that make beautiful wine. It's pretty special.
Speaker 4 (17:08):
It is a little interesting to see, you know, who
buys his place and what they do with it.
Speaker 2 (17:12):
Well, those are the interviews we most enjoyed in last
week's Mix one O six point three real Estate Show.
If you love hearing about the latest trends, or you're
just up for a sticky beak, be sure to drop
by for a listen this Saturday between nine
Speaker 1 (17:25):
And ten Cam and Rene's Real Estate Show on Mix
one O six point three
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