April 22, 2025 • 15 mins
- George Southwell, CEO at Ray White Rural Canberra, Yass and Murrumbateman provides a Capital Region market update
- Is there a national property slow down? Dr. Nicola Powel, Head of Research and Economics at Domain breaks down Domain’s end of quarter report
- How does the ACT Heritage Festival have a place in our real estate show? Nicole Sutherland, Curator Visual Arts and Social History, ACT Galleries, Museum and Heritage explains
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Episode Transcript
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Speaker 1 (00:01):
Cameron Renee's Real Estate Show on Mix one O six
point three The Envy of Camera Live in Devirga, Northorn
Village by JW.
Speaker 2 (00:09):
Land Now Selling Well Renee, Hello to you once again.
Speaker 1 (00:12):
Hello.
Speaker 2 (00:13):
Not only do we get to experience our real estate
show live on the radio each Saturday or Mix one
O six point three, but we get to relive it
here in the podcast.
Speaker 3 (00:22):
Yes, and so we explored lots of different topics this
time around, as we like to do, one of which
we got one of our regular guests back on the show,
who I feel like we haven't had on in a while.
It's about time that we spoke to it.
Speaker 2 (00:34):
You know what it was. It was the end of
last year really, which is way.
Speaker 3 (00:37):
Too long, way too long. He's such good fun. George
Southwell the artificial mirror of yes, would you say, I'd
say so, Yeah, we can say that.
Speaker 2 (00:45):
We'll get in trouble saying that.
Speaker 3 (00:47):
Ah, that's okay. We love speaking to him about anything really,
but this time about we love to get a camera
and region rural property update to see what's happening just
across the border.
Speaker 4 (00:57):
Yeah.
Speaker 2 (00:57):
Absolutely, you spoke about where the actual interest is coming from.
So whether it's local or whether people are still coming
in from outside of the area and have an interesting
rural property in the Capital region. Now, we also spoke
to doctor Nicola Powell from Domain as well.
Speaker 3 (01:13):
Yes, and she's always got all the numbers that we
need because Domain released their national house support for March
throughout the week and so we like to look at
what's happening nationally and what it means for us here
in Canberra and how we compare to everywhere else in
the country.
Speaker 2 (01:27):
Okay, so first time is welcome to our real estate
show podcast. For long time listeners, welcome back. That is
all to come with our Mix one O six point
three real estate podcast RENEE. As we work through the
week and we produce our radio show, we put the
interviews in order and we have correspondents with our guests
(01:48):
backwards and forwards, and we make sure that they're sort
of there and ready to go on time. Sometimes though,
well they don't go to they don't go to plan
and that's okay, we can move things around. We were
due to be speaking with George southwell, yes, I think
at ten past nine this morning.
Speaker 3 (02:07):
Is that what it says on your.
Speaker 2 (02:08):
Sheet of paper?
Speaker 3 (02:09):
Yeah, it does. Yes, yes, yes, George, good morning.
Speaker 4 (02:12):
Yeah, that's what it says in the email to camera Rene.
How are you?
Speaker 3 (02:16):
What have you got to say for yourself, mister George
Southwell this morning.
Speaker 4 (02:20):
Well, look, we haven't got open homes on the East
Long weekend and I was just mosing around the kitchen.
But I tell you, I did get me going was
a bit of elting John Candle in the wind.
Speaker 3 (02:30):
Yeah, hack a song.
Speaker 2 (02:31):
Hey, And see this is very professional broadcasting now because
he's taken it from what we were speaking about over
into a song.
Speaker 3 (02:37):
So all of this just doesn't exist now.
Speaker 4 (02:39):
He had very smart I might have spent a bit
of time in the announcements box this week at the
Sidney or at camp. So I'm well, well rehearved.
Speaker 3 (02:46):
Yeah, yeah, And do you know what, we kind of
can't blame you in a way because Cam and I
were saying, all our days are out of whack at
the moment. We didn't work yesterday. We had to Okay,
let's make sure we do rock up at work tomorrow,
like to do the show.
Speaker 2 (02:58):
Someone asked me, yesterdy, I went to the yesterday. Someone
asked me, are you working tomorrow's night?
Speaker 5 (03:02):
N Oh, Well, we are.
Speaker 3 (03:05):
Anyway, Look, while we've got you, let's just check in
and see what's happening. We're coming towards the end of
the first quarter of twenty twenty five. The rural property
market is what we love to chat to you about.
That's what you do. How is it faring at the moment?
Speaker 4 (03:21):
Yeah, certainly well, that rural residential market in and around Marion,
Bateman and Yass, which is obviously predominantly where we work,
it's really kicked along. We've had over forty individual groups
of buyers come through open homes over the last two weekends.
So that's forty one the weekend before and then forty
three you know, the weekend just gone. So inspection numbers
(03:41):
are through the roof. I think we've knocked off about
sixty percent more stock than we did this time last year,
got them, got them to sales advice stage or agrants
of a sale, and so things are starting to sort
of really ramp up, and we probably weren't expecting it.
Cam with the election on the boil for another couple
of weeks, I think people are just sort of getting
(04:02):
on with it, realizing that the opportunity is there, and
as soon as interest rates start to drop, it may
not be there anymore, so running out of stock.
Speaker 2 (04:10):
And so I mean this is a good thing for
you and good thing for the whole area. Tell me,
is it people buying locally or is it still you
seeing lots of people coming from outside the area to
buy into our region?
Speaker 4 (04:22):
Well with us and what we do. I don't know
what the competition are doing on this front, but we
see about thirty or forty percent of our inquiry come
from outside the local area, so outside that capital region
catchment area. So the inquiry level is sort of similar
to what it has been, and where it's coming from
is similar. But the people are actually writing checks out
(04:43):
and putting the deposits into trust accounts mainly upsizes people
who are upsizing their lifestyle or upsizing the size of
property that they've got. And that's I mean, it is
an upsizes market. That's what That's what the economists would
agree with, and that's what's happening.
Speaker 3 (04:58):
Okay, okay, And is it a special place you've got
at the moment you want to give a quick mention too,
of course there is.
Speaker 4 (05:05):
I'm a really sad agent.
Speaker 5 (05:06):
That's a question.
Speaker 3 (05:07):
It is hit us.
Speaker 4 (05:09):
Look it's a it's a beautiful place. It's seven Amble
Side in Mara Bateman. It's you know, it sits on
roughly about seven acres and it's just one of those
clean essential you know, twenty five thirty year old Mara
Bateman properties. You can run your horse, a beautiful established
native garden and a lovely brick home. We were worth
having a look at online.
Speaker 3 (05:29):
Absolutely well, I'm sorry for interrupting your mosying this morning, Joe.
Speaker 4 (05:34):
Thank you for acknowledging that day.
Speaker 3 (05:39):
All right, enjoy your Easter long weekend, won't you. We'll
have to chat to you again soon.
Speaker 6 (05:42):
Hey.
Speaker 4 (05:43):
Yeah, certainly we're going to cut a bit of fire,
would and hopefully the Easter bunny turns up tomorrow for
you camp.
Speaker 2 (05:47):
There you go, Yes, sure, I'm sure the bunny.
Speaker 3 (05:50):
The rabbit will arrive. Absolutely thank you, George Southwell, CEO Raywaite,
Rule Cambra, Yes and Mura Bateman will cam Domain has
published their National house a Report for March through the
week and obviously that looks at different prices around the country,
different states and territories. We like to find out what
it shows for Canberra and there are some interesting findings.
(06:12):
I believe we're going to learn more about in a
second and doctor Nicola Powell is head of Research and
economics at DOMAIN. Good morning, Nikola, good morning. Now, look,
can you give us an overview of this report.
Speaker 6 (06:24):
What we have found is most of our capital cities
are seeing price increases, but what we are seeing is
a slow down in the rate of price gains. But
I think what's interesting for canber it continues to buck
that kind of national trend. And what we have seen
is prices are softening, so they are falling in Canberra.
Speaker 2 (06:42):
Okay, and so is there any word as to why
that's happening.
Speaker 6 (06:45):
Camber has been an interesting dynamic and it has seen
much weaker conditions compared to some of our other capital cities.
And ultimately it's because supply has been much better in
Canberra compared to other cities. When you look at the
choice that's on the market today versus this time last year,
supply is twenty seven percent higher. And so what that
means for any buyer on the ground they have got
(07:07):
more choice. It means that they can take a little
bit of time when it comes to their purchasing decisions.
And I think what that has come out in terms
of price growth is sellers have to be a bit
more realistic on what price they can achieve for their home.
Speaker 3 (07:19):
And I hope you know REMINDMI ask you what numbers
are we looking at in terms of the average cost
in Canberra at the moment, So.
Speaker 6 (07:27):
Medium house price is sitting just over a million bucks,
so it's one point zero five million dollars. And for
unit prices in Canberra they're sitting at about five hundred
and thirty two thousand dollars for just under But actually
what's quite amazing this quarter is Canbra is one of
the more affordable capital cities to purchase a unit. It's
(07:48):
the third most affordable out of all of our major
capital cities, which I think is quite amazing considering Canberra
is the nation's capital.
Speaker 2 (07:55):
Yeah, but there'll be plenty of people hear and you
say that just shaking their heads, going.
Speaker 4 (07:59):
No, it's last.
Speaker 6 (08:01):
I think it is challenging for first home buyers. I
think we have seen such a change in price point
when you compare you know now compared to the last decade,
and I think for any first home buyer trying to
break into the housing market is it is challenging and
we can't disregard that, and it's absolutely why housing is
such a key battleground in the lead up to the election.
Speaker 2 (08:23):
Yeah, and we keep seeing it as well. Now, look, Nicola,
the numbers are the numbers, But in this report, what
story do the numbers tell?
Speaker 6 (08:31):
The story really points to the strain in affordability. We
have seen prices rise, but they're not rising as fast.
We're seeing a bit of a slowdown. And I really
do think that that showcase is the stretch to affordability
that nationally we're seeing. And what that means is when
there is a widening gap between where home prices are
(08:52):
and the capacity of buyers to pay for a home.
And really that just underpins the entire conversation that we've
been having, or the nation has been having, about Australia's
housing crisis.
Speaker 3 (09:04):
And just briefly, Nikola, what is the main thing that
people should take out of this report?
Speaker 6 (09:10):
Look, I think the numbers are a real guide if
you're buying or if you're selling a home. I think
what this anchors around is what are we seeing in
terms of the dynamics for property in Canberra. I think
if you are a seller, I would use this information
to really help you gauge what is the right price
for my home based upon market expectation. We have to
(09:32):
remember that a home is only as worth as much
as somebody is willing to pay for it, and there
is quite a bit of stock on Canberra's housing market
at the moment, so I think sellers do have to
be a little bit realistic on pricing expectation in this
softer market because one of the key things that we know,
if a home isn't priced right, it spends longer on
the market. And the longer a home spends on the market,
(09:54):
the greater that a bargain a buyer can get.
Speaker 3 (09:57):
Yeah, one hundred percent. You hear that everywhere, don't You can,
like from agents everyone in the industry that a house
is only worth what a person is willing to pay
for it. And it's true, isn't it? Absolutely all right? Nicolo, Well,
thanks so much for your insights and all that information
has always really appreciated.
Speaker 6 (10:10):
Thank you.
Speaker 3 (10:11):
That's doctor Nicola Powell, head of research and economics at
Domain well Cam. About an hour ago, so in the
first hour of this morning, we had a chat about
the Act Heritage Festival and all the awesome events happening
right across Canberra and the region for that, and there's many,
there is many, But we're going to bring it back
into the real estate show. Now, why are we linking
it up this way?
Speaker 4 (10:31):
Okay?
Speaker 2 (10:31):
So at the beginning of the week, I was saying,
poking around and looking for ideas and content for the show,
and I saw as a part of the Heritage Festival
something I thought was really really cool. So what they
were planning to do and indeed are doing, but it's
sold out, So we're still.
Speaker 3 (10:46):
Going to help me understand why, right, one undred.
Speaker 2 (10:48):
Percent, this is exactly why. So Calthorp's House are going
to take a walk along mug Away and they're going
to talk about all the old judges and the ex
politicians and the highest society people have back in the
day in Canberra who lived in those big houses.
Speaker 3 (11:02):
Oh okay, such obligated community. What's behind the.
Speaker 2 (11:05):
Gate is those what's behind those massive hedges?
Speaker 5 (11:09):
Yes?
Speaker 4 (11:09):
Right?
Speaker 2 (11:09):
And I thought that was really really cool and so
did everyone else because it did indeed sell out out.
Speaker 3 (11:15):
Yeah, so we're going to learn a little bit about
that now. But some other really cool things that are
happening as part of the Heritage Festival architecture related.
Speaker 2 (11:23):
This is a loose connection.
Speaker 3 (11:24):
Yes, sir, Now we're going to do it. Nicole Sutherland
Curative Visual Arts and the Social History Act, Galleries Museum
and Heritage Nicole, good morning, good morning. Now look this
walk that has sold out sounds really cool. What are
people going to get to it? I mean Cam touched
in it, but what are people going to get to
experience with that?
Speaker 5 (11:45):
So the Looking Tour of Muggaway explores the lives of
the families who lived on Muggaway in Red Hill in
the early years after the Capital's construction sort of kicked off,
so around the nineteen twenties and thirties, after the establishment
of the Federal Capital Commission, which was sort of tasked
with how central government offices that were being relocated here.
So we're kind of investigating their lives and their ongoing legacies.
(12:06):
And then we finish up at Calthorpe's house, where the
participants can explore the garden and listen to an audio
tour recorded with Dawn Waterhouse. She was the daughter of
Harry and Della Calthorpe, and she shared some lovely recollections
of what it was like to grow up in Calthorpe's
house in the nineteen thirties.
Speaker 2 (12:21):
And so to the walk, I mean speaking about some
of those old families who you know, helps create history
of the camera that we know today. That must be
really interesting.
Speaker 5 (12:33):
Yeah, I mean we've got you know, there's quite a
diverse range of people that we talk about on this tour,
you know, and there's sort of something for everyone, depending
on what your interests are. So the early residents of
Muggaway came from all sorts of professions.
Speaker 4 (12:46):
You know.
Speaker 5 (12:46):
We're talking about architects like Kenneth Olisont who lived and
designed homes on Muggaway. We've got public servants like Sir
Robert Garran is a famously hospitable wife, Lady Hildegarran as
Kenneth Spinn's the first parliamentary libry and his family. We
also talk about the Tilliard family, so that's the entomologist,
doctor Robin Tilliard and his wife and daughters, and they
(13:07):
were actively involved in Canberra committees and championed women's involvement
in education at governance. And then of course we fish
up with the real estate proprior to Harry Calthorpe and
his wife Della and their children who lived at Calthorpe's house.
So there's sort of you know, lots of different stories,
something for everyone.
Speaker 3 (13:22):
I think, yeah, it's very cool. I can understand why
people have snapped up the opportunity to be part of
that nicole. What are the sort of real estate is
or architectural themed events, So their happening is part of
the Heritage Festival.
Speaker 5 (13:36):
So in addition to this fine which is sadly sold out,
but there is a weight list if you want to
jump on a wait list we've got we've also got
Calthorpe's House Gardens Tour and that's actually happening today the
nineteenth of April at one o'clock and two thirty pm
at Cawthorp's House. You can still book into that one.
Those tours also run on the twenty sixth of April,
the third and the tenth of May. In addition to that,
(13:58):
we do run tours of Calthorpe's so that's in adition
to the garden tours, we've got the house tours every
Saturday between one and four o'clock. Calthorpe's House is also
being featured in the Foundations Tour as part of the
Heritage Festival. So that's looking at the origins of architecture
in the Capitol. I think there are still places for
this tour. It's thirty dollars. That includes a tour of
(14:20):
the Institute of Architects, a tour of Camber Girl's Grammar
boarding house, the Waterman Center, and then that finishes by
the Calthorpe's House and includes a lunch. So that one
is another one?
Speaker 2 (14:29):
Is that? Yeah?
Speaker 3 (14:30):
Well, so so much it offer really that's fantastic. Well, Nicole,
thank you so much for sharing all those details with
us this morning. For anyone listening who's going to be
attending that motherway walk enjoy it's going to be super
interesting and thank you so much for your time.
Speaker 5 (14:44):
Thank you so much.
Speaker 3 (14:45):
Guys, thank you Nicole Sabland. They're Who's curator Visual Arts
and Social History, ACT Galleries, Museum and Heritage. How cool
is that sound?
Speaker 2 (14:52):
So it really does say, and that's what I thought
it was going to be, so so tick there now
for details of that and everywhere else, just jump onto
the ice to Heritage Festival website and you'll be able
to navigate your way around find it all. 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
(15:14):
for a sticky beak, be sure to drop by for
a listen this Saturday between nine and
Speaker 1 (15:18):
Ten Jam and Rene's Real Estate Show on Mix one
O six point three
Cameron Renee's Real Estate Show on Mix one O six
point three The Envy of Camera Live in Devirga, Northorn
Village by JW.
Speaker 2 (00:09):
Land Now Selling Well Renee, Hello to you once again.
Speaker 1 (00:12):
Hello.
Speaker 2 (00:13):
Not only do we get to experience our real estate
show live on the radio each Saturday or Mix one
O six point three, but we get to relive it
here in the podcast.
Speaker 3 (00:22):
Yes, and so we explored lots of different topics this
time around, as we like to do, one of which
we got one of our regular guests back on the show,
who I feel like we haven't had on in a while.
It's about time that we spoke to it.
Speaker 2 (00:34):
You know what it was. It was the end of
last year really, which is way.
Speaker 3 (00:37):
Too long, way too long. He's such good fun. George
Southwell the artificial mirror of yes, would you say, I'd
say so, Yeah, we can say that.
Speaker 2 (00:45):
We'll get in trouble saying that.
Speaker 3 (00:47):
Ah, that's okay. We love speaking to him about anything really,
but this time about we love to get a camera
and region rural property update to see what's happening just
across the border.
Speaker 4 (00:57):
Yeah.
Speaker 2 (00:57):
Absolutely, you spoke about where the actual interest is coming from.
So whether it's local or whether people are still coming
in from outside of the area and have an interesting
rural property in the Capital region. Now, we also spoke
to doctor Nicola Powell from Domain as well.
Speaker 3 (01:13):
Yes, and she's always got all the numbers that we
need because Domain released their national house support for March
throughout the week and so we like to look at
what's happening nationally and what it means for us here
in Canberra and how we compare to everywhere else in
the country.
Speaker 2 (01:27):
Okay, so first time is welcome to our real estate
show podcast. For long time listeners, welcome back. That is
all to come with our Mix one O six point
three real estate podcast RENEE. As we work through the
week and we produce our radio show, we put the
interviews in order and we have correspondents with our guests
(01:48):
backwards and forwards, and we make sure that they're sort
of there and ready to go on time. Sometimes though,
well they don't go to they don't go to plan
and that's okay, we can move things around. We were
due to be speaking with George southwell, yes, I think
at ten past nine this morning.
Speaker 3 (02:07):
Is that what it says on your.
Speaker 2 (02:08):
Sheet of paper?
Speaker 3 (02:09):
Yeah, it does. Yes, yes, yes, George, good morning.
Speaker 4 (02:12):
Yeah, that's what it says in the email to camera Rene.
How are you?
Speaker 3 (02:16):
What have you got to say for yourself, mister George
Southwell this morning.
Speaker 4 (02:20):
Well, look, we haven't got open homes on the East
Long weekend and I was just mosing around the kitchen.
But I tell you, I did get me going was
a bit of elting John Candle in the wind.
Speaker 3 (02:30):
Yeah, hack a song.
Speaker 2 (02:31):
Hey, And see this is very professional broadcasting now because
he's taken it from what we were speaking about over
into a song.
Speaker 3 (02:37):
So all of this just doesn't exist now.
Speaker 4 (02:39):
He had very smart I might have spent a bit
of time in the announcements box this week at the
Sidney or at camp. So I'm well, well rehearved.
Speaker 3 (02:46):
Yeah, yeah, And do you know what, we kind of
can't blame you in a way because Cam and I
were saying, all our days are out of whack at
the moment. We didn't work yesterday. We had to Okay,
let's make sure we do rock up at work tomorrow,
like to do the show.
Speaker 2 (02:58):
Someone asked me, yesterdy, I went to the yesterday. Someone
asked me, are you working tomorrow's night?
Speaker 5 (03:02):
N Oh, Well, we are.
Speaker 3 (03:05):
Anyway, Look, while we've got you, let's just check in
and see what's happening. We're coming towards the end of
the first quarter of twenty twenty five. The rural property
market is what we love to chat to you about.
That's what you do. How is it faring at the moment?
Speaker 4 (03:21):
Yeah, certainly well, that rural residential market in and around Marion,
Bateman and Yass, which is obviously predominantly where we work,
it's really kicked along. We've had over forty individual groups
of buyers come through open homes over the last two weekends.
So that's forty one the weekend before and then forty
three you know, the weekend just gone. So inspection numbers
(03:41):
are through the roof. I think we've knocked off about
sixty percent more stock than we did this time last year,
got them, got them to sales advice stage or agrants
of a sale, and so things are starting to sort
of really ramp up, and we probably weren't expecting it.
Cam with the election on the boil for another couple
of weeks, I think people are just sort of getting
(04:02):
on with it, realizing that the opportunity is there, and
as soon as interest rates start to drop, it may
not be there anymore, so running out of stock.
Speaker 2 (04:10):
And so I mean this is a good thing for
you and good thing for the whole area. Tell me,
is it people buying locally or is it still you
seeing lots of people coming from outside the area to
buy into our region?
Speaker 4 (04:22):
Well with us and what we do. I don't know
what the competition are doing on this front, but we
see about thirty or forty percent of our inquiry come
from outside the local area, so outside that capital region
catchment area. So the inquiry level is sort of similar
to what it has been, and where it's coming from
is similar. But the people are actually writing checks out
(04:43):
and putting the deposits into trust accounts mainly upsizes people
who are upsizing their lifestyle or upsizing the size of
property that they've got. And that's I mean, it is
an upsizes market. That's what That's what the economists would
agree with, and that's what's happening.
Speaker 3 (04:58):
Okay, okay, And is it a special place you've got
at the moment you want to give a quick mention too,
of course there is.
Speaker 4 (05:05):
I'm a really sad agent.
Speaker 5 (05:06):
That's a question.
Speaker 3 (05:07):
It is hit us.
Speaker 4 (05:09):
Look it's a it's a beautiful place. It's seven Amble
Side in Mara Bateman. It's you know, it sits on
roughly about seven acres and it's just one of those
clean essential you know, twenty five thirty year old Mara
Bateman properties. You can run your horse, a beautiful established
native garden and a lovely brick home. We were worth
having a look at online.
Speaker 3 (05:29):
Absolutely well, I'm sorry for interrupting your mosying this morning, Joe.
Speaker 4 (05:34):
Thank you for acknowledging that day.
Speaker 3 (05:39):
All right, enjoy your Easter long weekend, won't you. We'll
have to chat to you again soon.
Speaker 6 (05:42):
Hey.
Speaker 4 (05:43):
Yeah, certainly we're going to cut a bit of fire,
would and hopefully the Easter bunny turns up tomorrow for
you camp.
Speaker 2 (05:47):
There you go, Yes, sure, I'm sure the bunny.
Speaker 3 (05:50):
The rabbit will arrive. Absolutely thank you, George Southwell, CEO Raywaite,
Rule Cambra, Yes and Mura Bateman will cam Domain has
published their National house a Report for March through the
week and obviously that looks at different prices around the country,
different states and territories. We like to find out what
it shows for Canberra and there are some interesting findings.
(06:12):
I believe we're going to learn more about in a
second and doctor Nicola Powell is head of Research and
economics at DOMAIN. Good morning, Nikola, good morning. Now, look,
can you give us an overview of this report.
Speaker 6 (06:24):
What we have found is most of our capital cities
are seeing price increases, but what we are seeing is
a slow down in the rate of price gains. But
I think what's interesting for canber it continues to buck
that kind of national trend. And what we have seen
is prices are softening, so they are falling in Canberra.
Speaker 2 (06:42):
Okay, and so is there any word as to why
that's happening.
Speaker 6 (06:45):
Camber has been an interesting dynamic and it has seen
much weaker conditions compared to some of our other capital cities.
And ultimately it's because supply has been much better in
Canberra compared to other cities. When you look at the
choice that's on the market today versus this time last year,
supply is twenty seven percent higher. And so what that
means for any buyer on the ground they have got
(07:07):
more choice. It means that they can take a little
bit of time when it comes to their purchasing decisions.
And I think what that has come out in terms
of price growth is sellers have to be a bit
more realistic on what price they can achieve for their home.
Speaker 3 (07:19):
And I hope you know REMINDMI ask you what numbers
are we looking at in terms of the average cost
in Canberra at the moment, So.
Speaker 6 (07:27):
Medium house price is sitting just over a million bucks,
so it's one point zero five million dollars. And for
unit prices in Canberra they're sitting at about five hundred
and thirty two thousand dollars for just under But actually
what's quite amazing this quarter is Canbra is one of
the more affordable capital cities to purchase a unit. It's
(07:48):
the third most affordable out of all of our major
capital cities, which I think is quite amazing considering Canberra
is the nation's capital.
Speaker 2 (07:55):
Yeah, but there'll be plenty of people hear and you
say that just shaking their heads, going.
Speaker 4 (07:59):
No, it's last.
Speaker 6 (08:01):
I think it is challenging for first home buyers. I
think we have seen such a change in price point
when you compare you know now compared to the last decade,
and I think for any first home buyer trying to
break into the housing market is it is challenging and
we can't disregard that, and it's absolutely why housing is
such a key battleground in the lead up to the election.
Speaker 2 (08:23):
Yeah, and we keep seeing it as well. Now, look, Nicola,
the numbers are the numbers, But in this report, what
story do the numbers tell?
Speaker 6 (08:31):
The story really points to the strain in affordability. We
have seen prices rise, but they're not rising as fast.
We're seeing a bit of a slowdown. And I really
do think that that showcase is the stretch to affordability
that nationally we're seeing. And what that means is when
there is a widening gap between where home prices are
(08:52):
and the capacity of buyers to pay for a home.
And really that just underpins the entire conversation that we've
been having, or the nation has been having, about Australia's
housing crisis.
Speaker 3 (09:04):
And just briefly, Nikola, what is the main thing that
people should take out of this report?
Speaker 6 (09:10):
Look, I think the numbers are a real guide if
you're buying or if you're selling a home. I think
what this anchors around is what are we seeing in
terms of the dynamics for property in Canberra. I think
if you are a seller, I would use this information
to really help you gauge what is the right price
for my home based upon market expectation. We have to
(09:32):
remember that a home is only as worth as much
as somebody is willing to pay for it, and there
is quite a bit of stock on Canberra's housing market
at the moment, so I think sellers do have to
be a little bit realistic on pricing expectation in this
softer market because one of the key things that we know,
if a home isn't priced right, it spends longer on
the market. And the longer a home spends on the market,
(09:54):
the greater that a bargain a buyer can get.
Speaker 3 (09:57):
Yeah, one hundred percent. You hear that everywhere, don't You can,
like from agents everyone in the industry that a house
is only worth what a person is willing to pay
for it. And it's true, isn't it? Absolutely all right? Nicolo, Well,
thanks so much for your insights and all that information
has always really appreciated.
Speaker 6 (10:10):
Thank you.
Speaker 3 (10:11):
That's doctor Nicola Powell, head of research and economics at
Domain well Cam. About an hour ago, so in the
first hour of this morning, we had a chat about
the Act Heritage Festival and all the awesome events happening
right across Canberra and the region for that, and there's many,
there is many, But we're going to bring it back
into the real estate show. Now, why are we linking
it up this way?
Speaker 4 (10:31):
Okay?
Speaker 2 (10:31):
So at the beginning of the week, I was saying,
poking around and looking for ideas and content for the show,
and I saw as a part of the Heritage Festival
something I thought was really really cool. So what they
were planning to do and indeed are doing, but it's
sold out, So we're still.
Speaker 3 (10:46):
Going to help me understand why, right, one undred.
Speaker 2 (10:48):
Percent, this is exactly why. So Calthorp's House are going
to take a walk along mug Away and they're going
to talk about all the old judges and the ex
politicians and the highest society people have back in the
day in Canberra who lived in those big houses.
Speaker 3 (11:02):
Oh okay, such obligated community. What's behind the.
Speaker 2 (11:05):
Gate is those what's behind those massive hedges?
Speaker 5 (11:09):
Yes?
Speaker 4 (11:09):
Right?
Speaker 2 (11:09):
And I thought that was really really cool and so
did everyone else because it did indeed sell out out.
Speaker 3 (11:15):
Yeah, so we're going to learn a little bit about
that now. But some other really cool things that are
happening as part of the Heritage Festival architecture related.
Speaker 2 (11:23):
This is a loose connection.
Speaker 3 (11:24):
Yes, sir, Now we're going to do it. Nicole Sutherland
Curative Visual Arts and the Social History Act, Galleries Museum
and Heritage Nicole, good morning, good morning. Now look this
walk that has sold out sounds really cool. What are
people going to get to it? I mean Cam touched
in it, but what are people going to get to
experience with that?
Speaker 5 (11:45):
So the Looking Tour of Muggaway explores the lives of
the families who lived on Muggaway in Red Hill in
the early years after the Capital's construction sort of kicked off,
so around the nineteen twenties and thirties, after the establishment
of the Federal Capital Commission, which was sort of tasked
with how central government offices that were being relocated here.
So we're kind of investigating their lives and their ongoing legacies.
(12:06):
And then we finish up at Calthorpe's house, where the
participants can explore the garden and listen to an audio
tour recorded with Dawn Waterhouse. She was the daughter of
Harry and Della Calthorpe, and she shared some lovely recollections
of what it was like to grow up in Calthorpe's
house in the nineteen thirties.
Speaker 2 (12:21):
And so to the walk, I mean speaking about some
of those old families who you know, helps create history
of the camera that we know today. That must be
really interesting.
Speaker 5 (12:33):
Yeah, I mean we've got you know, there's quite a
diverse range of people that we talk about on this tour,
you know, and there's sort of something for everyone, depending
on what your interests are. So the early residents of
Muggaway came from all sorts of professions.
Speaker 4 (12:46):
You know.
Speaker 5 (12:46):
We're talking about architects like Kenneth Olisont who lived and
designed homes on Muggaway. We've got public servants like Sir
Robert Garran is a famously hospitable wife, Lady Hildegarran as
Kenneth Spinn's the first parliamentary libry and his family. We
also talk about the Tilliard family, so that's the entomologist,
doctor Robin Tilliard and his wife and daughters, and they
(13:07):
were actively involved in Canberra committees and championed women's involvement
in education at governance. And then of course we fish
up with the real estate proprior to Harry Calthorpe and
his wife Della and their children who lived at Calthorpe's house.
So there's sort of you know, lots of different stories,
something for everyone.
Speaker 3 (13:22):
I think, yeah, it's very cool. I can understand why
people have snapped up the opportunity to be part of
that nicole. What are the sort of real estate is
or architectural themed events, So their happening is part of
the Heritage Festival.
Speaker 5 (13:36):
So in addition to this fine which is sadly sold out,
but there is a weight list if you want to
jump on a wait list we've got we've also got
Calthorpe's House Gardens Tour and that's actually happening today the
nineteenth of April at one o'clock and two thirty pm
at Cawthorp's House. You can still book into that one.
Those tours also run on the twenty sixth of April,
the third and the tenth of May. In addition to that,
(13:58):
we do run tours of Calthorpe's so that's in adition
to the garden tours, we've got the house tours every
Saturday between one and four o'clock. Calthorpe's House is also
being featured in the Foundations Tour as part of the
Heritage Festival. So that's looking at the origins of architecture
in the Capitol. I think there are still places for
this tour. It's thirty dollars. That includes a tour of
(14:20):
the Institute of Architects, a tour of Camber Girl's Grammar
boarding house, the Waterman Center, and then that finishes by
the Calthorpe's House and includes a lunch. So that one
is another one?
Speaker 2 (14:29):
Is that? Yeah?
Speaker 3 (14:30):
Well, so so much it offer really that's fantastic. Well, Nicole,
thank you so much for sharing all those details with
us this morning. For anyone listening who's going to be
attending that motherway walk enjoy it's going to be super
interesting and thank you so much for your time.
Speaker 5 (14:44):
Thank you so much.
Speaker 3 (14:45):
Guys, thank you Nicole Sabland. They're Who's curator Visual Arts
and Social History, ACT Galleries, Museum and Heritage. How cool
is that sound?
Speaker 2 (14:52):
So it really does say, and that's what I thought
it was going to be, so so tick there now
for details of that and everywhere else, just jump onto
the ice to Heritage Festival website and you'll be able
to navigate your way around find it all. 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
(15:14):
for a sticky beak, be sure to drop by for
a listen this Saturday between nine and
Speaker 1 (15:18):
Ten Jam and Rene's Real Estate Show on Mix one
O six point three
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