July 28, 2025 • 15 mins
- Should you sell first and then buy, or buy first and then sell? Steve Lowe, Director at the Agent Team Canberra, has the positives and negatives of both
- Braidwood’s Royal Mail Hotel is on the Market. Reg O’Connell, Licensed Real Estate and Business Agent at Nutrien Harcourts shares all the details of what comes with the sale of this special place in the community
- Where does Canberra sit in the Domain Group’s, June Quarter House Price Report? Joel Bowman, Senior Economist at the Domain Group reviews the numbers
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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.
Speaker 2 (00:04):
Be the Envy of Canberra.
Speaker 1 (00:06):
Live in de Burg at Northborne Village by JW Land
now selling well Camp. It's time for another Mixed one
oh six point three real estate show podcast.
Speaker 3 (00:14):
Yeah.
Speaker 2 (00:14):
We had some really interesting discussions in the show on Saturday,
one of which was with Joel Bowman, senior economists at
the Domain Group, talking about the Domain Group's June quarter
house price reports. So we pulled all the numbers out
and it's always an interesting exercise for me. We have
a look at a number of these reports over the
course of any given month, Yeah, just to see if
they're all flowing alongside each other. And generally they sort
(00:36):
of are.
Speaker 3 (00:37):
They generally are.
Speaker 1 (00:37):
Yeah, And he shared where Canberra sits with their house
prices at the moment and compared us to the other
states and territories as well.
Speaker 2 (00:44):
Can Renee there is a hotel now on the.
Speaker 1 (00:47):
Market, not just any hotel. It's an iconic hotel. It's
a yellow hotel and it's a hotel many people here
in Canberra would have driven past hundreds of times on
the way to the coast.
Speaker 2 (00:56):
I loved having the conversation with Reggie O'Connell from Nutrient
Hard Courts in Brable. There he shared the history, including
and many will know this, that iconic film Neig Kelly
with Mick Jagger in nineteen sixty nine was shot or
there's shot in the area, but that hotel was a feature,
and he talked about the way the locals were enticed. Yes,
(01:16):
as if you need any entire exactly, I'm into the
main bar to be a part of the shoot.
Speaker 1 (01:22):
And that's just one piece of history. There's so much
more to this iconic hotel. It's on the market, so
you might be able to go and buy.
Speaker 2 (01:29):
That should you sell first and then buy, or buy
first and then sell.
Speaker 1 (01:36):
It's a situation I reckon many many people find themselves
in every every day you know.
Speaker 4 (01:42):
Yep.
Speaker 2 (01:42):
Steve Low, director at the agent Team Cambric, had some
really salient advice as.
Speaker 4 (01:47):
Well, didn't he, Yes, he did.
Speaker 1 (01:48):
He always gives good, you know, practical advice in this situation.
So if this is you, make sure you listen to
our chat with Steve because you will get a lot
out of it.
Speaker 2 (01:55):
Coming up as a part of the podcast thanks to
j W Lander and Mix. One of six point three.
Speaker 1 (02:00):
Well, Cam, we're asking the question this morning, and I'm
sure this is a question many people around CANBRA have
asked should you sell first and then buy? Or buy
first and then sell? Now believe this came off the
back of a post you saw.
Speaker 2 (02:12):
Well, you're absolutely right, this is not an uncommon question,
but something came up on LinkedIn through the Weekend's just
like oh yes that and this is where content ideas
come from. Just they come from everywhere. But yes, because
this is like so much can go wrong, huh, but
you can also get it right as well.
Speaker 1 (02:30):
Yep, and you reliant on this person, that person, chain
of people.
Speaker 2 (02:34):
Right, it's a house of cards.
Speaker 1 (02:36):
Al it is well the man who can hopefully answer
this question for us and run through the different scenario.
Steve Lowe directed the agent team camera. Steve, good morning,
good morning, now thanks for joining us again. Look, when
it comes to selling first and then buying or buying
first and selling, what's the most important thing people need
to consider.
Speaker 3 (02:57):
Well, one has a huge financial risk, and that is
if you go and buy a property first before you've
sold yours, and yours doesn't sell for the price you
anticipate or takes a much longer to sell, then you
put yourself in a really difficult financial situation. And I've
seen people that have expected their house to sell to
(03:18):
say two million, sell for only one point six million.
That's the four hundred thousand dollars short for in the
overall transaction. That's pretty scary.
Speaker 1 (03:27):
Yeah, But what if, though, you buy first, but then sorry, sorry,
if you sell firs. I'm confusing myself. Now, if you
sell first, then you're under time pressure to find the
right place.
Speaker 3 (03:41):
Personally, I'd rather time pressure than financial pressure. It really
comes down to what type of pressure you prefer. But
I had this conversation all day every day, and my
advice to my sellers is always to sell first, then buy.
Nobody I've ever sold for has ever been.
Speaker 5 (03:58):
Homeless just yet.
Speaker 3 (03:59):
And I can give you so many examples of people
that are really anxious about that they took the advice.
They sold first, and then you know, all of a sudden,
their ideal property is on the market and they transact
it very quickly during the longest settlement period that we
put in place for those that are going to sell first,
and so that sort of de risks the entire situation
for you.
Speaker 5 (04:18):
The risk is if you.
Speaker 3 (04:18):
Don't find somewhere within the ninety eighty settlement period you
can go and bunk in with you know, couch surf
to get a short term air b and b maybe
even a short term rental.
Speaker 2 (04:27):
And I'm coming eight kids with me, yes, So mate,
what's the biggest mistake that you see people making?
Speaker 3 (04:37):
The biggest mistake is that quite often sellers will overestimate
what they anticipate to get for their property and underestimate
how long it's going to potentially take to sell. So
properties that are overpriced do take longer to sell. And
so that's that combination that you're not looking for, Like,
you know, that's the worst combination that you're looking for
if you're going to go and buy first. So yeah,
you have to be really conservative and do some really
(04:59):
conservative figures and timelines if you are going to go
and buy first, and make sure that you can handle
a worst case scenario.
Speaker 1 (05:08):
But Steve, it kind of also depends on what the
market is doing at that point in time, right, Because
I'm happy to be transparent about this and say, the
place we're living in now, we bought first before we
sold where we were living however, because that was in
the peak COVID craziness, we had the confidence at the
time that our place would sell just because of what
(05:29):
was going on in the market at that point in time.
Speaker 2 (05:31):
So you're saying market market conditions should prevail, Well.
Speaker 1 (05:35):
Not necessarily, but is a factant.
Speaker 3 (05:37):
Yeah, yeah, Well, so not everybody wants to go and
sell first and then buy, and so quite often they
will buy first. But it depends on the type of
property and the market. So if I'm at a house
that I know that I can sell within twenty one
days because we've done it a thousand times, then I'd
say to them, look, you is your that situation is
(05:58):
very low risk for you. It still has its risks,
but everything that we transact in this particular area, so
as quickly it's a pretty standard three bed to B
two car, a lot of demand for that, it's going
to be low risk for you. So let's just help
you buy something else and then we'll get the longest
selone on that one. Like we do a really good
strategic timeline planning session with our clients, then that way
they've got both options available to them and they can
(06:20):
be confuse which one they'd like to use.
Speaker 1 (06:21):
Yeah, that's so important, that would make the world of difference. Well, Steve,
thanks so much, very wise words from you. As always this.
Speaker 3 (06:28):
Morning, I'm at be getting old or something.
Speaker 5 (06:30):
Yeah, oh goodness me.
Speaker 1 (06:35):
Well, thank you so much for that. As always, that
was great. Haveing a good weekend you too, Thank you.
Steve Low, who's director at the agent team Camera, Well, Cam,
there's an ariconic place, so I think it's fair to
describe it that way.
Speaker 4 (06:46):
Would you say a million?
Speaker 2 (06:48):
Yeah, that's on the million.
Speaker 1 (06:51):
That's on the market now and many people who are
listening right now would have driven past this place so
many times going to the coast. Correct, Braidwood's Royal Hotel,
the yellow one that you drive past there is on
the market. And reg O'Connell is licensed real estate and
business agent at Nutrient Hardcourts in Braidwood. Rege, good morning,
(07:13):
good morning, great to talk to you. Yeah, thanks so
much for joining us this morning. Well, can we share
a little bit of the pub's history first off and
its place in the community of Braidwood.
Speaker 5 (07:22):
Well, it has a lot of history.
Speaker 6 (07:24):
It's very hard to share it in a few minutes,
but it was built in eighteen ninety and was originally
called the Royal Hotel. It is now called the Royal
Mail Hotel. That is courtesy of the Ned Kelly movie
that was made here featuring Mick Jagger back in nineteen
(07:44):
sixty nine. They renamed it the Royal Mail Hotel and
a lot of the locals were used as extras in
that movie. They opened up the bar for them because
they wanted a bit of a party by going and
they set the bar going for about two hours and
came back and the producer said, oh look that's not enough.
(08:05):
They needed a bit more of a party mood, so
a number two hours and you can imagine what it
was like after that. Oh yeahod SO is in iconic
building and everyone drives past as they're going to to
Batman's Bay. It's over three million traffic movements every year.
And then it's a beautiful world Victorian building. It's been
(08:28):
refurbished to modern standards. It's got sixteen rooms, it's got
really nice inclusions.
Speaker 5 (08:36):
There's nothing to be spent on it once.
Speaker 6 (08:38):
You move in and start trading straight away as it
is now seven days a.
Speaker 2 (08:42):
Week, and with a tight community that Braidwood is. When
it gets listed, or when it was listed, only a
couple of weeks ago. That must have got the locals
talking mate.
Speaker 6 (08:53):
Oh yes, yeah, there's a few vehicles that would really
like to take it on themselves, but beyond their boundaries
that the situation with the current owner. Jamie is doing
a great job. But I'm sure he doesn't mind me saying.
He's getting on a bit well into his seventies and
he's doing a.
Speaker 5 (09:12):
Really good job.
Speaker 6 (09:12):
He works there only basically nine to five every day
and employees a lot of staff, so someone else coming
in would be able to run it probably a lot,
a lot better than Jamie is doing it as far
as productive production goes.
Speaker 5 (09:29):
It suits a younger couple.
Speaker 6 (09:32):
Who've got some sort of industry background, but not necessarily.
Speaker 5 (09:36):
It's fairly easily run.
Speaker 1 (09:38):
Yeah, and what comes with a sale exactly ch everything you.
Speaker 6 (09:42):
Need to make it, even the grand piano that is
in the function in that's there. It's just got a
real air about it. An old grand hotel has got
the chandeliers and the like. But basically you don't need
to spend anything apart from on top of the purchase price,
apart from the stock, So just walk straight in.
Speaker 2 (10:04):
I would just I'd love to come and do this
like if I had the financial means and I'm sure
this is a conversation Readiere having with plenty of locals.
Speaker 4 (10:13):
Yeah, well, I.
Speaker 2 (10:15):
Was telling her and I was telling Renee as well.
And I don't know what happened for this not to
be the case now, but the selling's history way back,
so three or four generations ago, the Sullings is we
owned many hotels, one of which was the Great Northern
Hotel in Newcastle. And it's just like, how what happened?
Speaker 1 (10:34):
Why we came along and broke the pattern?
Speaker 2 (10:36):
No, no, so I reckon it's in my blood, Reds.
Speaker 6 (10:41):
I'd love to come out.
Speaker 1 (10:44):
Said, look, when how can people come and check it
out themselves?
Speaker 6 (10:48):
Look, just give me a call if you'd like to
have a look behind the scenes. Otherwise that the hotels
open seven days a week and it trades very very well.
Speaker 5 (10:58):
Come along and sample the project.
Speaker 1 (10:59):
Yeah, yeah, so good, we'll read m I don't think
we'll need to wish you luck, no doubt there'll be
plenty of interest with this one. But all the best, nonetheless,
And thanks so much for sharing that with us this morning.
Speaker 5 (11:08):
Thanks very much, great talking to you.
Speaker 1 (11:10):
Cheers, Thank you. That's Red O'Connell from Neutrient Hardcots in Brayward.
I tea what Cam. Nothing beats just driving out to
somewhere like Braywood. We did it in Captain's Flat. Reason
we just went out to the pub bestment the whole
afternoon there. The kids ran around in the sun and
we had awesome food and I just love the atmosphere
at a place like that.
Speaker 2 (11:25):
Another awesome place to do that is a Murraw Bateman
Hotel as well. The pinball machine there and they've got
the most epic steakes and hamburgers a and we're so
lucky that we have lots of those locations, those beautiful
old heritage Dong New South Wales pubs. Yes, short drive
away for sure and now you can own.
Speaker 5 (11:43):
One exactly well.
Speaker 3 (11:44):
Cam.
Speaker 1 (11:45):
This morning we're looking at where Canberra sits in the
Domain Group's June quarter house price report and it's always
interesting to find this out to see where we are
compared to the other states and territories. Have we gone
up or down? And we need the top of the
bottom and what does that mean for people hearing Camp and.
Speaker 2 (12:00):
You touch on a few of these reports each month
as they cycle through, and I love also not comparing
the reports, but just seeing everything is.
Speaker 5 (12:07):
Sort of close.
Speaker 1 (12:09):
Yeah, and to see if it's all consistent. Yeah, and
usually it pretty much is, I'd say so. And Joel
Bowman is senior economist at the Domain Group, can tell
us a bit more about this one. Joel, good morning,
good morning, Thank you for having me. Yeah, thanks so
much for joining us. Look, can you give us a
general overview of the market through the lens of this.
Speaker 5 (12:27):
Report, No problem.
Speaker 4 (12:28):
So the Main's latest house price reports shows that Australia's
property market is roaring back to life. So with all
eight capital cities posting simultaneous house price growth for the
first time in four years. That's following as Pluggage twenty
twenty four. So the latest data rebuilds a sharp rea
celebration of property prices and that's powered by the Reserve
(12:49):
Bank of Australia's shift into a rate cutting cycle. So
the lower interest rates have a locked additional growing capacity
which is increased demand and has really breathed new energy
into the housing markets nationwide. Looming in on canber in particular,
there's some signs there that the housing market has entered
in in early stages of a recovery. So Canberra house
(13:09):
prices they edged up one point one percent in the
June quarter to one just over one million and seventy thousand,
so that's the city's strongest quarterly gain in fifteen months.
For units, prices left by four point six percent in
the June quarter to reach six hundred and ten thousand,
so that's the strongest quarterly growth in almost two years.
(13:32):
So unit's now outpacing houses, which is carrying that price gap,
although a typical house steal cross about seventy five percent
more than a unit Joel.
Speaker 2 (13:41):
As I mentioned, we do speak to a number of
different people talking about these different reports. I love you
that you use the words rate cutting cycle because for
a long long time and this is almost like you know,
trying to turn the Titanic. For a number of years,
the rates were going up and up and up, and
it's taken time to sort of turn the ship around.
(14:02):
And now you're suggesting that the cycle, and you know,
this is what we're getting everywhere, is sort of heading
south now, which is that's what we want to hear?
Speaker 3 (14:10):
Right?
Speaker 4 (14:11):
Yeah, absolutely, And the RBA has made that quite clear.
They're taking a very kind of a cautious approach, but
the direction is somewhat clear. That's interest rates that you know.
We've seen three rate cuts so far this year, but
it looks like there' certainly going to be more to come, which.
Speaker 1 (14:30):
Is music to everyone's ears. Joel, Look, when you first
read this report, what sort of jumped out for you?
What stood out?
Speaker 5 (14:37):
Look?
Speaker 4 (14:38):
I think what we observed was poorly consistent with our
earlier four cars. So price is really picking up in
Sydney and Melbourne, so they tend to be the most
interest rate sensitive kind of market. What surprised me though,
was the extent of the pick up, particularly in Sydney
and Melbourne. So price momentum has increased in a bit
(14:59):
material and I think just the low listing volumes has
really created that this competition for those markets that are up,
for those houses that are currently on the market, and
so that's led to tips increasing a little bit more
than what I was expecting.
Speaker 1 (15:15):
Yeah, for sure. All right, Joel, Well, thank you for
giving us that wrap up, especially the focus on canber
this morning. Now, I really appreciate your time.
Speaker 4 (15:22):
Thank you, camer Ne, thank you.
Speaker 1 (15:24):
That's Joel Bowman, senior economists at the Domain Group.
Speaker 2 (15:27):
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 Rene's
Speaker 1 (15:41):
Real Estate Show on Mix one oh six point three
Cameron Renee's Real Estate show on Mix one oh six
point three.
Speaker 2 (00:04):
Be the Envy of Canberra.
Speaker 1 (00:06):
Live in de Burg at Northborne Village by JW Land
now selling well Camp. It's time for another Mixed one
oh six point three real estate show podcast.
Speaker 3 (00:14):
Yeah.
Speaker 2 (00:14):
We had some really interesting discussions in the show on Saturday,
one of which was with Joel Bowman, senior economists at
the Domain Group, talking about the Domain Group's June quarter
house price reports. So we pulled all the numbers out
and it's always an interesting exercise for me. We have
a look at a number of these reports over the
course of any given month, Yeah, just to see if
they're all flowing alongside each other. And generally they sort
(00:36):
of are.
Speaker 3 (00:37):
They generally are.
Speaker 1 (00:37):
Yeah, And he shared where Canberra sits with their house
prices at the moment and compared us to the other
states and territories as well.
Speaker 2 (00:44):
Can Renee there is a hotel now on the.
Speaker 1 (00:47):
Market, not just any hotel. It's an iconic hotel. It's
a yellow hotel and it's a hotel many people here
in Canberra would have driven past hundreds of times on
the way to the coast.
Speaker 2 (00:56):
I loved having the conversation with Reggie O'Connell from Nutrient
Hard Courts in Brable. There he shared the history, including
and many will know this, that iconic film Neig Kelly
with Mick Jagger in nineteen sixty nine was shot or
there's shot in the area, but that hotel was a feature,
and he talked about the way the locals were enticed. Yes,
(01:16):
as if you need any entire exactly, I'm into the
main bar to be a part of the shoot.
Speaker 1 (01:22):
And that's just one piece of history. There's so much
more to this iconic hotel. It's on the market, so
you might be able to go and buy.
Speaker 2 (01:29):
That should you sell first and then buy, or buy
first and then sell.
Speaker 1 (01:36):
It's a situation I reckon many many people find themselves
in every every day you know.
Speaker 4 (01:42):
Yep.
Speaker 2 (01:42):
Steve Low, director at the agent Team Cambric, had some
really salient advice as.
Speaker 4 (01:47):
Well, didn't he, Yes, he did.
Speaker 1 (01:48):
He always gives good, you know, practical advice in this situation.
So if this is you, make sure you listen to
our chat with Steve because you will get a lot
out of it.
Speaker 2 (01:55):
Coming up as a part of the podcast thanks to
j W Lander and Mix. One of six point three.
Speaker 1 (02:00):
Well, Cam, we're asking the question this morning, and I'm
sure this is a question many people around CANBRA have
asked should you sell first and then buy? Or buy
first and then sell? Now believe this came off the
back of a post you saw.
Speaker 2 (02:12):
Well, you're absolutely right, this is not an uncommon question,
but something came up on LinkedIn through the Weekend's just
like oh yes that and this is where content ideas
come from. Just they come from everywhere. But yes, because
this is like so much can go wrong, huh, but
you can also get it right as well.
Speaker 1 (02:30):
Yep, and you reliant on this person, that person, chain
of people.
Speaker 2 (02:34):
Right, it's a house of cards.
Speaker 1 (02:36):
Al it is well the man who can hopefully answer
this question for us and run through the different scenario.
Steve Lowe directed the agent team camera. Steve, good morning,
good morning, now thanks for joining us again. Look, when
it comes to selling first and then buying or buying
first and selling, what's the most important thing people need
to consider.
Speaker 3 (02:57):
Well, one has a huge financial risk, and that is
if you go and buy a property first before you've
sold yours, and yours doesn't sell for the price you
anticipate or takes a much longer to sell, then you
put yourself in a really difficult financial situation. And I've
seen people that have expected their house to sell to
(03:18):
say two million, sell for only one point six million.
That's the four hundred thousand dollars short for in the
overall transaction. That's pretty scary.
Speaker 1 (03:27):
Yeah, But what if, though, you buy first, but then sorry, sorry,
if you sell firs. I'm confusing myself. Now, if you
sell first, then you're under time pressure to find the
right place.
Speaker 3 (03:41):
Personally, I'd rather time pressure than financial pressure. It really
comes down to what type of pressure you prefer. But
I had this conversation all day every day, and my
advice to my sellers is always to sell first, then buy.
Nobody I've ever sold for has ever been.
Speaker 5 (03:58):
Homeless just yet.
Speaker 3 (03:59):
And I can give you so many examples of people
that are really anxious about that they took the advice.
They sold first, and then you know, all of a sudden,
their ideal property is on the market and they transact
it very quickly during the longest settlement period that we
put in place for those that are going to sell first,
and so that sort of de risks the entire situation
for you.
Speaker 5 (04:18):
The risk is if you.
Speaker 3 (04:18):
Don't find somewhere within the ninety eighty settlement period you
can go and bunk in with you know, couch surf
to get a short term air b and b maybe
even a short term rental.
Speaker 2 (04:27):
And I'm coming eight kids with me, yes, So mate,
what's the biggest mistake that you see people making?
Speaker 3 (04:37):
The biggest mistake is that quite often sellers will overestimate
what they anticipate to get for their property and underestimate
how long it's going to potentially take to sell. So
properties that are overpriced do take longer to sell. And
so that's that combination that you're not looking for, Like,
you know, that's the worst combination that you're looking for
if you're going to go and buy first. So yeah,
you have to be really conservative and do some really
(04:59):
conservative figures and timelines if you are going to go
and buy first, and make sure that you can handle
a worst case scenario.
Speaker 1 (05:08):
But Steve, it kind of also depends on what the
market is doing at that point in time, right, Because
I'm happy to be transparent about this and say, the
place we're living in now, we bought first before we
sold where we were living however, because that was in
the peak COVID craziness, we had the confidence at the
time that our place would sell just because of what
(05:29):
was going on in the market at that point in time.
Speaker 2 (05:31):
So you're saying market market conditions should prevail, Well.
Speaker 1 (05:35):
Not necessarily, but is a factant.
Speaker 3 (05:37):
Yeah, yeah, Well, so not everybody wants to go and
sell first and then buy, and so quite often they
will buy first. But it depends on the type of
property and the market. So if I'm at a house
that I know that I can sell within twenty one
days because we've done it a thousand times, then I'd
say to them, look, you is your that situation is
(05:58):
very low risk for you. It still has its risks,
but everything that we transact in this particular area, so
as quickly it's a pretty standard three bed to B
two car, a lot of demand for that, it's going
to be low risk for you. So let's just help
you buy something else and then we'll get the longest
selone on that one. Like we do a really good
strategic timeline planning session with our clients, then that way
they've got both options available to them and they can
(06:20):
be confuse which one they'd like to use.
Speaker 1 (06:21):
Yeah, that's so important, that would make the world of difference. Well, Steve,
thanks so much, very wise words from you. As always this.
Speaker 3 (06:28):
Morning, I'm at be getting old or something.
Speaker 5 (06:30):
Yeah, oh goodness me.
Speaker 1 (06:35):
Well, thank you so much for that. As always, that
was great. Haveing a good weekend you too, Thank you.
Steve Low, who's director at the agent team Camera, Well, Cam,
there's an ariconic place, so I think it's fair to
describe it that way.
Speaker 4 (06:46):
Would you say a million?
Speaker 2 (06:48):
Yeah, that's on the million.
Speaker 1 (06:51):
That's on the market now and many people who are
listening right now would have driven past this place so
many times going to the coast. Correct, Braidwood's Royal Hotel,
the yellow one that you drive past there is on
the market. And reg O'Connell is licensed real estate and
business agent at Nutrient Hardcourts in Braidwood. Rege, good morning,
(07:13):
good morning, great to talk to you. Yeah, thanks so
much for joining us this morning. Well, can we share
a little bit of the pub's history first off and
its place in the community of Braidwood.
Speaker 5 (07:22):
Well, it has a lot of history.
Speaker 6 (07:24):
It's very hard to share it in a few minutes,
but it was built in eighteen ninety and was originally
called the Royal Hotel. It is now called the Royal
Mail Hotel. That is courtesy of the Ned Kelly movie
that was made here featuring Mick Jagger back in nineteen
(07:44):
sixty nine. They renamed it the Royal Mail Hotel and
a lot of the locals were used as extras in
that movie. They opened up the bar for them because
they wanted a bit of a party by going and
they set the bar going for about two hours and
came back and the producer said, oh look that's not enough.
(08:05):
They needed a bit more of a party mood, so
a number two hours and you can imagine what it
was like after that. Oh yeahod SO is in iconic
building and everyone drives past as they're going to to
Batman's Bay. It's over three million traffic movements every year.
And then it's a beautiful world Victorian building. It's been
(08:28):
refurbished to modern standards. It's got sixteen rooms, it's got
really nice inclusions.
Speaker 5 (08:36):
There's nothing to be spent on it once.
Speaker 6 (08:38):
You move in and start trading straight away as it
is now seven days a.
Speaker 2 (08:42):
Week, and with a tight community that Braidwood is. When
it gets listed, or when it was listed, only a
couple of weeks ago. That must have got the locals
talking mate.
Speaker 6 (08:53):
Oh yes, yeah, there's a few vehicles that would really
like to take it on themselves, but beyond their boundaries
that the situation with the current owner. Jamie is doing
a great job. But I'm sure he doesn't mind me saying.
He's getting on a bit well into his seventies and
he's doing a.
Speaker 5 (09:12):
Really good job.
Speaker 6 (09:12):
He works there only basically nine to five every day
and employees a lot of staff, so someone else coming
in would be able to run it probably a lot,
a lot better than Jamie is doing it as far
as productive production goes.
Speaker 5 (09:29):
It suits a younger couple.
Speaker 6 (09:32):
Who've got some sort of industry background, but not necessarily.
Speaker 5 (09:36):
It's fairly easily run.
Speaker 1 (09:38):
Yeah, and what comes with a sale exactly ch everything you.
Speaker 6 (09:42):
Need to make it, even the grand piano that is
in the function in that's there. It's just got a
real air about it. An old grand hotel has got
the chandeliers and the like. But basically you don't need
to spend anything apart from on top of the purchase price,
apart from the stock, So just walk straight in.
Speaker 2 (10:04):
I would just I'd love to come and do this
like if I had the financial means and I'm sure
this is a conversation Readiere having with plenty of locals.
Speaker 4 (10:13):
Yeah, well, I.
Speaker 2 (10:15):
Was telling her and I was telling Renee as well.
And I don't know what happened for this not to
be the case now, but the selling's history way back,
so three or four generations ago, the Sullings is we
owned many hotels, one of which was the Great Northern
Hotel in Newcastle. And it's just like, how what happened?
Speaker 1 (10:34):
Why we came along and broke the pattern?
Speaker 2 (10:36):
No, no, so I reckon it's in my blood, Reds.
Speaker 6 (10:41):
I'd love to come out.
Speaker 1 (10:44):
Said, look, when how can people come and check it
out themselves?
Speaker 6 (10:48):
Look, just give me a call if you'd like to
have a look behind the scenes. Otherwise that the hotels
open seven days a week and it trades very very well.
Speaker 5 (10:58):
Come along and sample the project.
Speaker 1 (10:59):
Yeah, yeah, so good, we'll read m I don't think
we'll need to wish you luck, no doubt there'll be
plenty of interest with this one. But all the best, nonetheless,
And thanks so much for sharing that with us this morning.
Speaker 5 (11:08):
Thanks very much, great talking to you.
Speaker 1 (11:10):
Cheers, Thank you. That's Red O'Connell from Neutrient Hardcots in Brayward.
I tea what Cam. Nothing beats just driving out to
somewhere like Braywood. We did it in Captain's Flat. Reason
we just went out to the pub bestment the whole
afternoon there. The kids ran around in the sun and
we had awesome food and I just love the atmosphere
at a place like that.
Speaker 2 (11:25):
Another awesome place to do that is a Murraw Bateman
Hotel as well. The pinball machine there and they've got
the most epic steakes and hamburgers a and we're so
lucky that we have lots of those locations, those beautiful
old heritage Dong New South Wales pubs. Yes, short drive
away for sure and now you can own.
Speaker 5 (11:43):
One exactly well.
Speaker 3 (11:44):
Cam.
Speaker 1 (11:45):
This morning we're looking at where Canberra sits in the
Domain Group's June quarter house price report and it's always
interesting to find this out to see where we are
compared to the other states and territories. Have we gone
up or down? And we need the top of the
bottom and what does that mean for people hearing Camp and.
Speaker 2 (12:00):
You touch on a few of these reports each month
as they cycle through, and I love also not comparing
the reports, but just seeing everything is.
Speaker 5 (12:07):
Sort of close.
Speaker 1 (12:09):
Yeah, and to see if it's all consistent. Yeah, and
usually it pretty much is, I'd say so. And Joel
Bowman is senior economist at the Domain Group, can tell
us a bit more about this one. Joel, good morning,
good morning, Thank you for having me. Yeah, thanks so
much for joining us. Look, can you give us a
general overview of the market through the lens of this.
Speaker 5 (12:27):
Report, No problem.
Speaker 4 (12:28):
So the Main's latest house price reports shows that Australia's
property market is roaring back to life. So with all
eight capital cities posting simultaneous house price growth for the
first time in four years. That's following as Pluggage twenty
twenty four. So the latest data rebuilds a sharp rea
celebration of property prices and that's powered by the Reserve
(12:49):
Bank of Australia's shift into a rate cutting cycle. So
the lower interest rates have a locked additional growing capacity
which is increased demand and has really breathed new energy
into the housing markets nationwide. Looming in on canber in particular,
there's some signs there that the housing market has entered
in in early stages of a recovery. So Canberra house
(13:09):
prices they edged up one point one percent in the
June quarter to one just over one million and seventy thousand,
so that's the city's strongest quarterly gain in fifteen months.
For units, prices left by four point six percent in
the June quarter to reach six hundred and ten thousand,
so that's the strongest quarterly growth in almost two years.
(13:32):
So unit's now outpacing houses, which is carrying that price gap,
although a typical house steal cross about seventy five percent
more than a unit Joel.
Speaker 2 (13:41):
As I mentioned, we do speak to a number of
different people talking about these different reports. I love you
that you use the words rate cutting cycle because for
a long long time and this is almost like you know,
trying to turn the Titanic. For a number of years,
the rates were going up and up and up, and
it's taken time to sort of turn the ship around.
(14:02):
And now you're suggesting that the cycle, and you know,
this is what we're getting everywhere, is sort of heading
south now, which is that's what we want to hear?
Speaker 3 (14:10):
Right?
Speaker 4 (14:11):
Yeah, absolutely, And the RBA has made that quite clear.
They're taking a very kind of a cautious approach, but
the direction is somewhat clear. That's interest rates that you know.
We've seen three rate cuts so far this year, but
it looks like there' certainly going to be more to come, which.
Speaker 1 (14:30):
Is music to everyone's ears. Joel, Look, when you first
read this report, what sort of jumped out for you?
What stood out?
Speaker 5 (14:37):
Look?
Speaker 4 (14:38):
I think what we observed was poorly consistent with our
earlier four cars. So price is really picking up in
Sydney and Melbourne, so they tend to be the most
interest rate sensitive kind of market. What surprised me though,
was the extent of the pick up, particularly in Sydney
and Melbourne. So price momentum has increased in a bit
(14:59):
material and I think just the low listing volumes has
really created that this competition for those markets that are up,
for those houses that are currently on the market, and
so that's led to tips increasing a little bit more
than what I was expecting.
Speaker 1 (15:15):
Yeah, for sure. All right, Joel, Well, thank you for
giving us that wrap up, especially the focus on canber
this morning. Now, I really appreciate your time.
Speaker 4 (15:22):
Thank you, camer Ne, thank you.
Speaker 1 (15:24):
That's Joel Bowman, senior economists at the Domain Group.
Speaker 2 (15:27):
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 Rene's
Speaker 1 (15:41):
Real Estate Show on Mix one oh six point three
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