July 6, 2025 • 15 mins
- Sarah Macartney provides an overview of Domain’s Monthly Market Insights
- Maria Edwards, CEO at the Real Estate Institute of the ACT spoke at the recent Enquiry into the Management of Strata Properties in the ACT. Maria shares some of the key findings of the enquiry
- Sam McGregor, Principal, Windrose Property has a look at the Corelogic Hedonic Home Value Index through a local lens
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Camon Renee's real Estate show on Mix one oh six
point three be the Envy of Camera Live in de
Burg at Northborne Village by JW. Land now selling well Renee.
Speaker 2 (00:11):
When we went to air on Saturday morning with the
Mixed one of six point three real Estate.
Speaker 3 (00:14):
Show, it was a peace super outside.
Speaker 2 (00:16):
Yeah, very very foggy, but the radio show there were
lots of bright moments, weren't there.
Speaker 1 (00:21):
Indeed, lots of love what you did there, Cam. One
thing we spoke about. We spoke to Sarah McCartney from Domain.
They had their monthly market insights report and some very
interesting findings for Canberra in that and you and I
found it particularly interesting because it talked about sort of
things slowing down, houses not moving auction, houses not selling
it auction and all that sort of stuff, and it's
(00:42):
kind of didn't quite match some of the other things
that we've been hearing.
Speaker 2 (00:46):
Yeah, absolutely, And we also talked about the interest rates
and what that decision was going to be in the
next couple of days from when we went to air
as well, So really interesting discussion absolutely.
Speaker 1 (00:57):
And similarly we also spoke to Sam McGregor, Prince at
Windrows Property about the latest Core Logic Report and some
of the local findings in that as well, and you know,
talking about camber house prices and where they're sitting and
interest rates as well and the impact that could have
moving forward.
Speaker 2 (01:12):
Maria Edwards, who looks after business at the Real Estate
Institute of the Act, was at an ACD government inquiry
through the week yes, which.
Speaker 1 (01:21):
Looked at strata management in the Act and some of
the issues in that area, and she spoke about how
to be a management a manager in this space in
the Act you don't have to have a lot a
license and so that was one of the things they
talked about the importance of education in the Act and
making sure there is enough education in this space.
Speaker 2 (01:41):
Yeah, complex, complex topic, but plenty of great discussion that
came out of that. So that's what we have set
up for you in our podcast today.
Speaker 3 (01:50):
Enjoy It's all thanks to JW. Land. A mixed one
of six.
Speaker 1 (01:52):
Point three well cam Domain's monthly Market Insights Report is
out which has a look at what's happening nationally in
the property market and locally as well, which we like
to dig down on that information. And it's interesting because
you and I were chatting off about some of the
findings that we've read a little bit about. We're going
to find out more on a sec And it's interesting
(02:13):
because you're kind of hearing some things that are going
on and this sort of suggests other things. Yeah, I'm
kind of like, what's happening?
Speaker 4 (02:20):
This is it?
Speaker 2 (02:20):
So, you know, being out and about shooting real estate
videos and having conversations with people and then receiving figures
looking at it, going well, it doesn't quite match up
to the conversations that we're having.
Speaker 3 (02:31):
So let's learn more.
Speaker 1 (02:31):
Let's do that absolutely. Sarah McCartney is a spokesperson from
Domain and joins us Now.
Speaker 5 (02:35):
Hi, Sarah, good morning, Hello.
Speaker 1 (02:38):
Hello, Yeah, we're good, Thank you, Sarah. Can we have
a look at the local findings first? What did the
report show for the month of June when looking at
the camera market.
Speaker 6 (02:47):
Yeah, it's a different story. In Canberra, we've actually recorded
the lowest auction clearance rate of any capital city in
June at just forty five percent. Just to put that
into comparison across the nation, it's looking more at sixty
for the forty five percent in Canberra is actually the
lowest with seed since twenty nineteen. We do know that
Canberra is not a big auction market, but it does
(03:09):
kind of point to signal about really what's happening on
the ground. And you know, not surprising it's winter, things
do tend to slow down. But we are really seeing
in Canberra that houses are taking a long a longer
time to sell, sitting on the market for about seventy
days and then the units are sitting on the market
for about eighty six days. So just to put this
in perspective that some of the longest periods we've had
(03:32):
on market compared to twenty twenty and twenty twenty one, Okay,
it's quite different.
Speaker 1 (03:37):
Yeah, so home staying on the market for longer, auction
clearing rates of the lowest level since twenty nineteen. What
do you sort of put those things down to.
Speaker 6 (03:46):
There's a few things. You know, winter is always a
slower time, so we see people more reluctant to put
their house on the market. Things don't look as fresh
as they do in spring. But also we know broadly
people are sort of just waiting to see what happens
with interest. There's been a lot of conversation, you know,
for the last twelve months now around cost of living, crisis,
people feeling a bit nervous about what's happening in the
(04:07):
global economy, and as such, we just haven't seen huge
volumes of homes being traded. As we are looking towards spring,
people are starting to see some signals around interest rate drops.
We typically see people feel a little bit more optimistic
that they might be able to sell their property quicker.
People have got a bit more money to spend and
that they'll be able to find something too. So, you know,
(04:29):
we've got a few things happening both the winter, the
interest rate, people sitting and waiting, and then we've also
just got this perennial issue of supply and so people
don't want to sell their house if they don't have somewhere.
Speaker 4 (04:42):
To go to.
Speaker 2 (04:44):
And so this lends beautifully into a conversation that Renee
and I were having sort of off air that we
also wanted to broach with you. So Tuesday, the IBA
will make another announcement. What's the talk around your office
as to what you think that they will do and
then what happens from there.
Speaker 6 (05:00):
We are sort of thinking that they will make a cut,
that's what we're seeing in the market, but there is
still so much caution, so you know, we're really kind
of sitting on the fence here. There's a lot of
factors that are unknown, you know, more globally, but you know,
some of the factors that we're seeing in the local
economy would point to perhaps a rate cut.
Speaker 1 (05:23):
Okay, And you were saying earlier, Sarah, that what's happening
here locally with some of those figures is a different
story to what's happening nationally.
Speaker 6 (05:31):
That's right. Nationally, we've still got pretty hot markets in Sydney,
in Melbourne, confidence in buying is very high. But we
are seeing across the board that new listings are down,
but only by nine percent, so that's not too much
of a drop given it's the winter season. Properties in
Adelaide specifically and Darwin are moving pretty fast, but broadly
(05:54):
things are lingering on the market a little bit longer.
But as I said earlier, you know, sixty four percent
clearance rate in the combined capital cities. That's one of
the highest we're seeing since September last year. So there
is definitely optimism in those bigger markets.
Speaker 4 (06:07):
Yep.
Speaker 1 (06:07):
Absolutely well. It'll be interesting to see what happens after
the RBA meets next week. Sarah, thank you so much
for sharing all that with us this morning. Thank you,
Thank you that Sarah McCartney, who's a spokesperson from Domain
well Can. This week the Legislative Assembly hosted an inquiry
into the management of strata properties in the Act. We
know it's sort of a multi layered thing. There can
(06:29):
be lots of issues in that space.
Speaker 2 (06:32):
Very complex and of course this really I mean, you've
got your journalists hat on for this one this morning,
haven't you, because you brought this to the show and
it's like, of course, like this is as you say,
it's ongoing. It pops up in the news every now
and then, we hear positives and negative so it's just
something that we thought we definitely need to touch on and.
Speaker 1 (06:49):
Now that it's happened, find out what was explored there,
what came out of it and that sort of thing.
And Maria Edwards is a CEO at the Real Estate
Institute of the Act. She spoke at the inquiry as well. Marie,
good morning, good morning. Firstly, before we get into what
was discussed there, can you briefly just tell us what
was the purpose of it all and what did it
set out to do?
Speaker 5 (07:09):
Yeah, So the Legis of Assembly inquiry was if you
drive around Camber, you see so many more apartment buildings
that are being built and so many more that are
going to be built in the Act. And it was
a bit of a feedback other in session from the
Act government to look at, you know, what are people's
experiences living in strata at the moment, what are people's
experiences of managing strata at the moment, and sort of
what sort of policy settings should they look at for
(07:29):
the future too, because you know, ultimately most of us
going to end up in some sort of strata spread
of building at once some stage in our lives. So yeah,
was having a good look at the sector.
Speaker 2 (07:39):
And so you know, away from the inquiry in your
sort of dealings daily.
Speaker 3 (07:46):
Is it mostly a positive experience that people have?
Speaker 5 (07:49):
Look I think you know, in our experience, you know,
you don't often hear all positive things you do here,
you know, you hear complaints more than you hear congratulations,
and you're.
Speaker 1 (07:57):
Like with anything, right, exactly right.
Speaker 5 (07:59):
Yeah, it's definitely something there's definitely some common themes that
come through, but you know, it's an area that's grown
really rapidly, and I guess it's time for policy settings
and industry to catch up. I guess to make sure
that everybody is confident in the sector moving forward.
Speaker 1 (08:14):
Yeah, and what was the key issue that you spoke about?
Speaker 5 (08:17):
So we spoke a lot about education. So as a
real estate agent, you have to do a license course
to operate in the Act, and you have to be
have to have a license as well. The guys just
paid their licenses last week and there are a thousand
dollars to have a real estate license in the Act.
In strata management, you don't actually have to have any
formal qualifications or have a license at all. And so
we because there is so much interaction obviously between strata
(08:40):
managers and owners and real estate the rest of the
real estate sector, we're really advocating for people to be
have minimum standards of education and some licensing so that
there's some confidence in the sector moving forward.
Speaker 3 (08:50):
All right, So you've got to be careful of the yahoos.
Speaker 4 (08:53):
Is that what we're.
Speaker 2 (08:55):
Industry of course, of course, especially on a radio industry, Okay,
And so solution is to put some sort of formal
qualification in place.
Speaker 3 (09:05):
Where would that happen? Would it happen?
Speaker 2 (09:07):
Would you know somewhere or like react overseas something like that.
Speaker 5 (09:11):
Yeah, yeah, so we actually do have we developed a
recently a strata management courses at for course that even
though it's not mandatory and it's not not required, you know,
for those strata managers that do want to upskill and
for businesses that want to even realist their companies that
want their staff to be aware of all the rules
in strata. We've actually developed a course and there'll be
multiple courses available in the next couple of years, I think,
because people are realizing that this is something that's needed
(09:34):
in the sector and it's for the protection of everybody's
protection of owners, it's pejection of the businesses and the
strata managers that work in it.
Speaker 1 (09:40):
So yeah, yeah, for sure. And so now this inquiry
has happened, it's wrapped up sort of what happens from here.
Speaker 6 (09:47):
So we're told there'll be a report in.
Speaker 5 (09:50):
A few months before the end of the year, so
that we can I guess they'll gather and formulate some
plans from there about some policy proposals, and then hopefully
one of the things all of us that what they
were advocating for was a lot more consultation around you know,
if you go in this set of policy, how it's
practically going to be rolled out now, you wouldn't want
to say that everybody, you know, everybody needs to be
(10:10):
educated in licensed by first January next year, because it's
not practical. That might sound great, but it's not going
to happen. You know, It's take a while for these
things to happen, so it'll hopefully be you know, more
consultation with the industry. But they're selling for a great,
great sort of submissions and feedback that came through a
relation to it from all parts of the sector.
Speaker 1 (10:26):
Yes, so good. We'll have to keep in touch with
you once we learn more, once that report comes out,
and go from there. But Maria, thank you so much
for sharing that with us this morning.
Speaker 5 (10:34):
Thanks for having me have a lovely day.
Speaker 1 (10:36):
Cheers you too, Marie Edwards, who's the CEO of the
Real Estate Institute of the Act. Well, Cam we know
that the core logic Herdonic Home Valley Index gets published
and when it does, we like to dig down on
the local figures and chat to one of our regular
guests to find out what's happening from the camera and
surrounds point of view and Sam McGregor is the principal
(10:56):
Windrows property joins us. Now now before we get into
any of that, I want to we want to say
congrats Sam, you have not one, but two new additions
to your lovely family.
Speaker 4 (11:09):
Rene Cam good morning, Thank you so much. Yes, it's
been a well win couple of weeks welcoming twins in.
But what a great thing to happen, What a blessing.
Speaker 2 (11:18):
Yeah yeah, and we can hear you driving, which means
you must be late changing double pooey nappies or something.
So can now get to your open homes today?
Speaker 4 (11:26):
Yeah, it's gonna be a busy day today. Mate. Lauren
is a superstar and she's looking after everything at home
for me while I go out and.
Speaker 3 (11:33):
Do what we do on Saturday lovely.
Speaker 1 (11:35):
Yeah, absolutely, well that's so fantastic. I love that for
you guys, And yeah, congrats, that's so awesome. Now Sam,
we'll get into to the other stuff. Now. Can you
give us an overview of the camera market that is
seen in this latest report?
Speaker 4 (11:49):
Look, certainly can really interesting one this week because we
saw a pretty significant bump in house prices across camera
So zero point nine percent growth with pushing the median
dwelling price and camera to a hair above eight hundred
and fifty five thousand. The significant thing from me there
is actually one point one percent growth in freestanding dwellings,
(12:12):
so zero point three percent increase in units, but one
point one percent growth in house So look, that's a
pretty outstanding month. That's a pretty high performing months in Canberra.
Speaker 2 (12:21):
Okay, And so what are you putting that down to
when you see the report for the first time?
Speaker 4 (12:26):
Oh, look, the very first thing that I thought when
I saw it was that it's probably the like the
ripple effect of interest rate cuts that we saw earlier
in the year. I've always got a view that this
data can probably be maybe you know, four or six
weeks behind what's actually happening on the ground. And so
if you sort of take that or take that assertion
(12:49):
maybe with a grain of salt, but just seeing that
it's a little bit behind what's going on. And that's
we saw that six to eight weeks ago where things
were starting to get a bit crazy crazy maybe not
the right word, but like the market was definitely warming
up and there's certainly a lot more interest around in
freestanding homes in particular, and so I think that's the
flow and effect from there, and I think that in
(13:10):
the next next month camera and we're going to see
those numbers probably even higher.
Speaker 1 (13:14):
Yeah, okay, and that's what we're going to ask you
kind of what you expect in the coming months. Does
it sort of indicate, you know, a continued slowing of
the marketing camera or what do you say?
Speaker 3 (13:22):
Or is it going to explode?
Speaker 4 (13:24):
Yeah, Look, it's definitely not slowing down. I think if anything,
we're heating up, which is really strange because it's not
one degree outside. Yes, so it's going to be an
interesting spring. I think that. Look, really, what I'm seeing
as I stand at front doors at the moment is
there's a lot of interest in freestanding houses that you
(13:45):
might consider not entry level, but like the first tier
of upgraders. So something between like seven hundred and maybe
nine point fifty up to about a million bucks absolutely
red hot at the moment. And so when we were
talking probably six twelve months ago, the unit market was
pretty strong. I remember in one period we had almost
four percent growth in units in a month. Obviously that's
(14:08):
flipped now. But what we're seeing is that people are
selling units, they're making decent money on them, and they're deciding, Okay,
maybe we'll go buy that three bedroom, two bathroom house
in dot Common somewhere. And so the price pressure really
is on between that sort of seven hundred and a
million dollar mark that's going to continueing to spring. And
I think if we get another interest rate cut or two,
(14:31):
where we're explode is probably the right word. Actually, as
the sun really does come out.
Speaker 1 (14:36):
Yeah for sure. Well it hasn't really come out yet
where we're sitting right here. It's very foggy. But no,
thank you so much for that again, Sam, and congrats
on the little ones to you and Laws and you know,
we'll speak to you when the next report comes out.
Hopefully we'll have had another interest rate cut between now
and then and we'll see the impact of that too,
but we'll chat to you again soon.
Speaker 4 (14:56):
Awesome, Thanks so much to you both. I was speaking
against it.
Speaker 1 (14:58):
Cheers Sam McGregor, who who's the principal at Windrows Property.
Speaker 2 (15:02):
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 and ten
jam and
Speaker 1 (15:16):
Rene's Real Estate Show on Mix one O six point
three
Camon Renee's real Estate show on Mix one oh six
point three be the Envy of Camera Live in de
Burg at Northborne Village by JW. Land now selling well Renee.
Speaker 2 (00:11):
When we went to air on Saturday morning with the
Mixed one of six point three real Estate.
Speaker 3 (00:14):
Show, it was a peace super outside.
Speaker 2 (00:16):
Yeah, very very foggy, but the radio show there were
lots of bright moments, weren't there.
Speaker 1 (00:21):
Indeed, lots of love what you did there, Cam. One
thing we spoke about. We spoke to Sarah McCartney from Domain.
They had their monthly market insights report and some very
interesting findings for Canberra in that and you and I
found it particularly interesting because it talked about sort of
things slowing down, houses not moving auction, houses not selling
it auction and all that sort of stuff, and it's
(00:42):
kind of didn't quite match some of the other things
that we've been hearing.
Speaker 2 (00:46):
Yeah, absolutely, And we also talked about the interest rates
and what that decision was going to be in the
next couple of days from when we went to air
as well, So really interesting discussion absolutely.
Speaker 1 (00:57):
And similarly we also spoke to Sam McGregor, Prince at
Windrows Property about the latest Core Logic Report and some
of the local findings in that as well, and you know,
talking about camber house prices and where they're sitting and
interest rates as well and the impact that could have
moving forward.
Speaker 2 (01:12):
Maria Edwards, who looks after business at the Real Estate
Institute of the Act, was at an ACD government inquiry
through the week yes, which.
Speaker 1 (01:21):
Looked at strata management in the Act and some of
the issues in that area, and she spoke about how
to be a management a manager in this space in
the Act you don't have to have a lot a
license and so that was one of the things they
talked about the importance of education in the Act and
making sure there is enough education in this space.
Speaker 2 (01:41):
Yeah, complex, complex topic, but plenty of great discussion that
came out of that. So that's what we have set
up for you in our podcast today.
Speaker 3 (01:50):
Enjoy It's all thanks to JW. Land. A mixed one
of six.
Speaker 1 (01:52):
Point three well cam Domain's monthly Market Insights Report is
out which has a look at what's happening nationally in
the property market and locally as well, which we like
to dig down on that information. And it's interesting because
you and I were chatting off about some of the
findings that we've read a little bit about. We're going
to find out more on a sec And it's interesting
(02:13):
because you're kind of hearing some things that are going
on and this sort of suggests other things. Yeah, I'm
kind of like, what's happening?
Speaker 4 (02:20):
This is it?
Speaker 2 (02:20):
So, you know, being out and about shooting real estate
videos and having conversations with people and then receiving figures
looking at it, going well, it doesn't quite match up
to the conversations that we're having.
Speaker 3 (02:31):
So let's learn more.
Speaker 1 (02:31):
Let's do that absolutely. Sarah McCartney is a spokesperson from
Domain and joins us Now.
Speaker 5 (02:35):
Hi, Sarah, good morning, Hello.
Speaker 1 (02:38):
Hello, Yeah, we're good, Thank you, Sarah. Can we have
a look at the local findings first? What did the
report show for the month of June when looking at
the camera market.
Speaker 6 (02:47):
Yeah, it's a different story. In Canberra, we've actually recorded
the lowest auction clearance rate of any capital city in
June at just forty five percent. Just to put that
into comparison across the nation, it's looking more at sixty
for the forty five percent in Canberra is actually the
lowest with seed since twenty nineteen. We do know that
Canberra is not a big auction market, but it does
(03:09):
kind of point to signal about really what's happening on
the ground. And you know, not surprising it's winter, things
do tend to slow down. But we are really seeing
in Canberra that houses are taking a long a longer
time to sell, sitting on the market for about seventy
days and then the units are sitting on the market
for about eighty six days. So just to put this
in perspective that some of the longest periods we've had
(03:32):
on market compared to twenty twenty and twenty twenty one, Okay,
it's quite different.
Speaker 1 (03:37):
Yeah, so home staying on the market for longer, auction
clearing rates of the lowest level since twenty nineteen. What
do you sort of put those things down to.
Speaker 6 (03:46):
There's a few things. You know, winter is always a
slower time, so we see people more reluctant to put
their house on the market. Things don't look as fresh
as they do in spring. But also we know broadly
people are sort of just waiting to see what happens
with interest. There's been a lot of conversation, you know,
for the last twelve months now around cost of living, crisis,
people feeling a bit nervous about what's happening in the
(04:07):
global economy, and as such, we just haven't seen huge
volumes of homes being traded. As we are looking towards spring,
people are starting to see some signals around interest rate drops.
We typically see people feel a little bit more optimistic
that they might be able to sell their property quicker.
People have got a bit more money to spend and
that they'll be able to find something too. So, you know,
(04:29):
we've got a few things happening both the winter, the
interest rate, people sitting and waiting, and then we've also
just got this perennial issue of supply and so people
don't want to sell their house if they don't have somewhere.
Speaker 4 (04:42):
To go to.
Speaker 2 (04:44):
And so this lends beautifully into a conversation that Renee
and I were having sort of off air that we
also wanted to broach with you. So Tuesday, the IBA
will make another announcement. What's the talk around your office
as to what you think that they will do and
then what happens from there.
Speaker 6 (05:00):
We are sort of thinking that they will make a cut,
that's what we're seeing in the market, but there is
still so much caution, so you know, we're really kind
of sitting on the fence here. There's a lot of
factors that are unknown, you know, more globally, but you know,
some of the factors that we're seeing in the local
economy would point to perhaps a rate cut.
Speaker 1 (05:23):
Okay, And you were saying earlier, Sarah, that what's happening
here locally with some of those figures is a different
story to what's happening nationally.
Speaker 6 (05:31):
That's right. Nationally, we've still got pretty hot markets in Sydney,
in Melbourne, confidence in buying is very high. But we
are seeing across the board that new listings are down,
but only by nine percent, so that's not too much
of a drop given it's the winter season. Properties in
Adelaide specifically and Darwin are moving pretty fast, but broadly
(05:54):
things are lingering on the market a little bit longer.
But as I said earlier, you know, sixty four percent
clearance rate in the combined capital cities. That's one of
the highest we're seeing since September last year. So there
is definitely optimism in those bigger markets.
Speaker 4 (06:07):
Yep.
Speaker 1 (06:07):
Absolutely well. It'll be interesting to see what happens after
the RBA meets next week. Sarah, thank you so much
for sharing all that with us this morning. Thank you,
Thank you that Sarah McCartney, who's a spokesperson from Domain
well Can. This week the Legislative Assembly hosted an inquiry
into the management of strata properties in the Act. We
know it's sort of a multi layered thing. There can
(06:29):
be lots of issues in that space.
Speaker 2 (06:32):
Very complex and of course this really I mean, you've
got your journalists hat on for this one this morning,
haven't you, because you brought this to the show and
it's like, of course, like this is as you say,
it's ongoing. It pops up in the news every now
and then, we hear positives and negative so it's just
something that we thought we definitely need to touch on and.
Speaker 1 (06:49):
Now that it's happened, find out what was explored there,
what came out of it and that sort of thing.
And Maria Edwards is a CEO at the Real Estate
Institute of the Act. She spoke at the inquiry as well. Marie,
good morning, good morning. Firstly, before we get into what
was discussed there, can you briefly just tell us what
was the purpose of it all and what did it
set out to do?
Speaker 5 (07:09):
Yeah, So the Legis of Assembly inquiry was if you
drive around Camber, you see so many more apartment buildings
that are being built and so many more that are
going to be built in the Act. And it was
a bit of a feedback other in session from the
Act government to look at, you know, what are people's
experiences living in strata at the moment, what are people's
experiences of managing strata at the moment, and sort of
what sort of policy settings should they look at for
(07:29):
the future too, because you know, ultimately most of us
going to end up in some sort of strata spread
of building at once some stage in our lives. So yeah,
was having a good look at the sector.
Speaker 2 (07:39):
And so you know, away from the inquiry in your
sort of dealings daily.
Speaker 3 (07:46):
Is it mostly a positive experience that people have?
Speaker 5 (07:49):
Look I think you know, in our experience, you know,
you don't often hear all positive things you do here,
you know, you hear complaints more than you hear congratulations,
and you're.
Speaker 1 (07:57):
Like with anything, right, exactly right.
Speaker 5 (07:59):
Yeah, it's definitely something there's definitely some common themes that
come through, but you know, it's an area that's grown
really rapidly, and I guess it's time for policy settings
and industry to catch up. I guess to make sure
that everybody is confident in the sector moving forward.
Speaker 1 (08:14):
Yeah, and what was the key issue that you spoke about?
Speaker 5 (08:17):
So we spoke a lot about education. So as a
real estate agent, you have to do a license course
to operate in the Act, and you have to be
have to have a license as well. The guys just
paid their licenses last week and there are a thousand
dollars to have a real estate license in the Act.
In strata management, you don't actually have to have any
formal qualifications or have a license at all. And so
we because there is so much interaction obviously between strata
(08:40):
managers and owners and real estate the rest of the
real estate sector, we're really advocating for people to be
have minimum standards of education and some licensing so that
there's some confidence in the sector moving forward.
Speaker 3 (08:50):
All right, So you've got to be careful of the yahoos.
Speaker 4 (08:53):
Is that what we're.
Speaker 2 (08:55):
Industry of course, of course, especially on a radio industry, Okay,
And so solution is to put some sort of formal
qualification in place.
Speaker 3 (09:05):
Where would that happen? Would it happen?
Speaker 2 (09:07):
Would you know somewhere or like react overseas something like that.
Speaker 5 (09:11):
Yeah, yeah, so we actually do have we developed a
recently a strata management courses at for course that even
though it's not mandatory and it's not not required, you know,
for those strata managers that do want to upskill and
for businesses that want to even realist their companies that
want their staff to be aware of all the rules
in strata. We've actually developed a course and there'll be
multiple courses available in the next couple of years, I think,
because people are realizing that this is something that's needed
(09:34):
in the sector and it's for the protection of everybody's
protection of owners, it's pejection of the businesses and the
strata managers that work in it.
Speaker 1 (09:40):
So yeah, yeah, for sure. And so now this inquiry
has happened, it's wrapped up sort of what happens from here.
Speaker 6 (09:47):
So we're told there'll be a report in.
Speaker 5 (09:50):
A few months before the end of the year, so
that we can I guess they'll gather and formulate some
plans from there about some policy proposals, and then hopefully
one of the things all of us that what they
were advocating for was a lot more consultation around you know,
if you go in this set of policy, how it's
practically going to be rolled out now, you wouldn't want
to say that everybody, you know, everybody needs to be
(10:10):
educated in licensed by first January next year, because it's
not practical. That might sound great, but it's not going
to happen. You know, It's take a while for these
things to happen, so it'll hopefully be you know, more
consultation with the industry. But they're selling for a great,
great sort of submissions and feedback that came through a
relation to it from all parts of the sector.
Speaker 1 (10:26):
Yes, so good. We'll have to keep in touch with
you once we learn more, once that report comes out,
and go from there. But Maria, thank you so much
for sharing that with us this morning.
Speaker 5 (10:34):
Thanks for having me have a lovely day.
Speaker 1 (10:36):
Cheers you too, Marie Edwards, who's the CEO of the
Real Estate Institute of the Act. Well, Cam we know
that the core logic Herdonic Home Valley Index gets published
and when it does, we like to dig down on
the local figures and chat to one of our regular
guests to find out what's happening from the camera and
surrounds point of view and Sam McGregor is the principal
(10:56):
Windrows property joins us. Now now before we get into
any of that, I want to we want to say
congrats Sam, you have not one, but two new additions
to your lovely family.
Speaker 4 (11:09):
Rene Cam good morning, Thank you so much. Yes, it's
been a well win couple of weeks welcoming twins in.
But what a great thing to happen, What a blessing.
Speaker 2 (11:18):
Yeah yeah, and we can hear you driving, which means
you must be late changing double pooey nappies or something.
So can now get to your open homes today?
Speaker 4 (11:26):
Yeah, it's gonna be a busy day today. Mate. Lauren
is a superstar and she's looking after everything at home
for me while I go out and.
Speaker 3 (11:33):
Do what we do on Saturday lovely.
Speaker 1 (11:35):
Yeah, absolutely, well that's so fantastic. I love that for
you guys, And yeah, congrats, that's so awesome. Now Sam,
we'll get into to the other stuff. Now. Can you
give us an overview of the camera market that is
seen in this latest report?
Speaker 4 (11:49):
Look, certainly can really interesting one this week because we
saw a pretty significant bump in house prices across camera
So zero point nine percent growth with pushing the median
dwelling price and camera to a hair above eight hundred
and fifty five thousand. The significant thing from me there
is actually one point one percent growth in freestanding dwellings,
(12:12):
so zero point three percent increase in units, but one
point one percent growth in house So look, that's a
pretty outstanding month. That's a pretty high performing months in Canberra.
Speaker 2 (12:21):
Okay, And so what are you putting that down to
when you see the report for the first time?
Speaker 4 (12:26):
Oh, look, the very first thing that I thought when
I saw it was that it's probably the like the
ripple effect of interest rate cuts that we saw earlier
in the year. I've always got a view that this
data can probably be maybe you know, four or six
weeks behind what's actually happening on the ground. And so
if you sort of take that or take that assertion
(12:49):
maybe with a grain of salt, but just seeing that
it's a little bit behind what's going on. And that's
we saw that six to eight weeks ago where things
were starting to get a bit crazy crazy maybe not
the right word, but like the market was definitely warming
up and there's certainly a lot more interest around in
freestanding homes in particular, and so I think that's the
flow and effect from there, and I think that in
(13:10):
the next next month camera and we're going to see
those numbers probably even higher.
Speaker 1 (13:14):
Yeah, okay, and that's what we're going to ask you
kind of what you expect in the coming months. Does
it sort of indicate, you know, a continued slowing of
the marketing camera or what do you say?
Speaker 3 (13:22):
Or is it going to explode?
Speaker 4 (13:24):
Yeah, Look, it's definitely not slowing down. I think if anything,
we're heating up, which is really strange because it's not
one degree outside. Yes, so it's going to be an
interesting spring. I think that. Look, really, what I'm seeing
as I stand at front doors at the moment is
there's a lot of interest in freestanding houses that you
(13:45):
might consider not entry level, but like the first tier
of upgraders. So something between like seven hundred and maybe
nine point fifty up to about a million bucks absolutely
red hot at the moment. And so when we were
talking probably six twelve months ago, the unit market was
pretty strong. I remember in one period we had almost
four percent growth in units in a month. Obviously that's
(14:08):
flipped now. But what we're seeing is that people are
selling units, they're making decent money on them, and they're deciding, Okay,
maybe we'll go buy that three bedroom, two bathroom house
in dot Common somewhere. And so the price pressure really
is on between that sort of seven hundred and a
million dollar mark that's going to continueing to spring. And
I think if we get another interest rate cut or two,
(14:31):
where we're explode is probably the right word. Actually, as
the sun really does come out.
Speaker 1 (14:36):
Yeah for sure. Well it hasn't really come out yet
where we're sitting right here. It's very foggy. But no,
thank you so much for that again, Sam, and congrats
on the little ones to you and Laws and you know,
we'll speak to you when the next report comes out.
Hopefully we'll have had another interest rate cut between now
and then and we'll see the impact of that too,
but we'll chat to you again soon.
Speaker 4 (14:56):
Awesome, Thanks so much to you both. I was speaking
against it.
Speaker 1 (14:58):
Cheers Sam McGregor, who who's the principal at Windrows Property.
Speaker 2 (15:02):
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 and ten
jam and
Speaker 1 (15:16):
Rene's Real Estate Show on Mix one O six point
three
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