September 28, 2025 • 16 mins
- If I have a 4 bedroom house and want to turn it into a three-bedroom house does that decrease the value or vice versa? Steve Lowe, Director at the Agent Team Canberra provides the answer
- Dr. Nicola Powel, Head of Research and Economics at Domain reveals Canberra’s top 3 buyer search trends
- Alec Brown, Sales Director and Award-Winning Auctioneer at Ray White shares tips on how to win at a competitive auction when it’s down to you and one other bidder
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Cameron Renee's Real Estate show on Mix one oh six
point three be the Envy of Camera Live in de Burgert,
Northborne Village by JW.
Speaker 2 (00:09):
Land now selling Well, can we have another Mix one
o six point three real Estate show podcast? After another
really fun and interesting show.
Speaker 3 (00:16):
Yeah.
Speaker 4 (00:16):
We spoke to Steve Blow, one of our regular guests,
director at the Agent, in camera about people who try
and convert a three bedroom house into a four bedroom
house or vice versa by putting extra walls in and
changing the layout of the house and whether that increases
or decreases the value. And you could hear like he's
been around the block a few times, you could hear
(00:37):
the frustration in his voice when people don't follow the
compliant measures that you have to. Yeah, because the place
has just become harder to sell.
Speaker 2 (00:46):
Yes, and all the approvals and stuff. So it's stuff
that it's something that happens all the time. So that
was a really interesting chat. Another one he spoke to
doctor Nicola Poud from Domain about the top buyer search trend.
So people go online to search for a house, what
they're typing in all the different terms.
Speaker 4 (01:01):
So you'll hear speak about the national results and that
has changed. It's not swimming pool anymore. People aren't typing
that in are they typing in granny flats? Yes, which
that's nationally locally though, yes, very different story.
Speaker 2 (01:14):
Yes, and so she shared with us the local results
and they are very super Canberra Cambra, which is really interesting.
And another interesting chat with Alec Brown, who's won awards
for his auctioneering skills. He's from ray White. When you're
at an option and it's down to you and another bitter,
what does that look like that whole process, because it's scary,
it's nerve wracking, it's emotional, it's all the things. So
(01:36):
he ran through that with it.
Speaker 4 (01:37):
It was gavels at fifteen paces, yes, and so the
best thing about Alec, like you just listened to him.
He has been around the block plenty of times.
Speaker 5 (01:45):
Yep.
Speaker 3 (01:45):
He's highly experienced.
Speaker 4 (01:47):
And then when we finished up speaking with him, he
had four options to do on the Saturday, so like
he's just neck deep in this.
Speaker 2 (01:53):
Rot day in the life.
Speaker 3 (01:54):
Hey, yep, all right.
Speaker 4 (01:55):
So a really interesting discussion with Alec as well. Thank
you for if you were listening to us on Saturday
and you're reliving it, thank you.
Speaker 3 (02:02):
But also thanks for jumping on now.
Speaker 4 (02:04):
All thanks to JW Lamb A mixed Oney six point
three Nkim.
Speaker 2 (02:08):
A question we're going to ask this morning. This is interesting.
You and I were chatting about this offair before. If
you have a four bedroom house and want to turn
it into a three bedroom house, does that decrease the
value or vice versa?
Speaker 3 (02:20):
Okay, and you've had like an experience.
Speaker 2 (02:22):
With this, haven't you, well similar kind of kind of flipped.
So when we were looking for when we were before
we bought the place we're currently in, there was one
place where they'd advertised it as I think a four
or five bedroom I can't remember, but really they just
got one of the rooms and chucked a wall in
the middle, so it was like two pantry sized spaces
that they were saying were two separate bedrooms.
Speaker 4 (02:45):
And so when you walked in and saw that for
the first time, like how did you go with that?
Speaker 2 (02:48):
It just turned me off immediately because I'm like, these
are not bedrooms. They're just trying to make it sound
like the house has more rooms. Anyway. Steve low is
director at the Agent team Camera and when to see
this stuff happen all the time. No doubt, Steve, Good.
Speaker 5 (03:01):
Morning, Good morning.
Speaker 2 (03:03):
Now, look, do you have an example of where someone
has changed a four betty into a three bedroom home
and why they decided to do that?
Speaker 5 (03:12):
Yeah, well we've done it. We've done a three bedroom
into a two bedroom, or two bedroom into a three bedroom,
or four bedroom into a fire bedroom, and a fire
bedroom back into a four bedroom. Okay, yes, but I
have not yet done a five bedroom into a ten bedroom.
But hey, I like the idea raised before.
Speaker 4 (03:28):
Yeah, but I mean listening to your sigh of frustration
there as you went to answer that.
Speaker 3 (03:33):
So is this a thing for you?
Speaker 4 (03:35):
Do you walk into a place and someone has made
that changing, You've just thinking to yourself, you're not selling
it correctly.
Speaker 3 (03:42):
Haven't done the right thing here?
Speaker 5 (03:44):
Yeah, and there's also you know, people do a lot
of time a garage conversion as well. So let's get
back to this. Okay, So a four bedroom is not
always a four bedroom, as an age just said before.
Sometimes that fourth bedroom is so small we can barely
call it a bedroom. A small like a cupboard with
a bed.
Speaker 2 (04:00):
Yeah.
Speaker 5 (04:00):
Now, four bedroom, one bathroom homes are really hard to
sell because the family needs two bathrooms. So the best
thing is with that four bedroom, one bathroom is to
convert that fourth bedroom into ideally an en suite or
another bathroom. Therefore, it's changing it into a three bed
two bath which in most cases will sell better than
a four bed one bath that's got a compromise floorplan.
Speaker 2 (04:23):
Yes, and my brother's just done a very similar thing.
He's just moved into a house in the Belconnan area
because they needed that extra bathroom. They were in that
situation before and have now got away from that because
it was just too tricky. And so for people who
are thinking about that sort of change, what should they
be considering.
Speaker 5 (04:45):
Well, it's not always possible because there's a couple of
requirements that a bedroom must meet and has to have
natural light and ventilation, which I mean done with an
openable skylight. You can't always convert your garage into a
habitable space. You know, it might not have a the
membrane beneath the concrete slab. There's a ton of different
compliance reasons as well, So if you do it without
(05:06):
approvals then you're only going to probably cause future issues
when you do decide to sell. So the best thing
to do is get a building certifier involved. And an agent.
They can give you some good advice before you sort
of do any work.
Speaker 4 (05:18):
I mean, but there's one Nigel Johnson who works at
the radio station here and his place that he has
two car garage and he's converted half of that into
a bar space with a big lounge and he's and
he's getted it out correctly or really really well. But
I don't think there's too many compliance issues there because
then changes structure or anything like that. So you can
(05:40):
get away with a sort of semi conversion, can't you.
Speaker 5 (05:46):
Are we being recorded?
Speaker 2 (05:49):
We are live, let's just be clear.
Speaker 5 (05:51):
Yeah, well, technically every most alterations will require some sort
of government approval. It really depends on the type of alteration.
And as you probably are where most people in camera
are just seem to do whatever they'd like and get
away with it. Some do, some don't.
Speaker 4 (06:08):
I had a conversation with a real est age and
state agent on site on Thursday at a place and
she was saying, we can't sell this place because of
that bit as not compliant that bit and they just
go and change it, and there's you know, they just
don't follow the.
Speaker 5 (06:23):
Rule bar Yeah, correct, and some things are not approvable,
and others could be approved with a little bit of work.
Speaker 2 (06:29):
Okay, And do you think some of these conversions that
perhaps happen without the right guidance, perhaps does that kind
of decrease the value when those people were thinking, perhaps
we'd make a lot more money, Because.
Speaker 5 (06:43):
Yeah, absolutely so. We saw one in later about eighteen
months ago, and the owner had done an amazing job
of converting the garage into another bedroom with an en
suite and a little kitchenette. Beautiful construction, really really nice,
but unapprovable, and so we could not have the tie
that has that third bedroom because it's not technically classed
(07:05):
as a habitable room, and so therefore it actually decreased
the value of the property because most people don't want
to take on that risk, even though the risk is
fairly low. You never know, But the only way to
get that one to improved would be to do significant
work to install the right vapor barriers beneath the concrete
slat and things like that, which you probably is not
going to do.
Speaker 2 (07:26):
Yeah, oh goodness, well, no doubt, like you, like you
sort of indicated at the beginning, you see this all
the time. But as long as you people get the
right advice from the right people. I think that's the
good message.
Speaker 4 (07:36):
Must been the counseling session for Steve, isn't it. You
know we have a sigh.
Speaker 2 (07:41):
Does you feel a bit better now? Yes, thanks, we're
here for you.
Speaker 3 (07:47):
The invoices in the male.
Speaker 2 (07:50):
Yeah, that's the thanks for your time this morning. Have
a good weekend, you do. Thank you. Steve Low, director
at agent Team Camber. Reminds me of that cath and
King episode where Kath decides to waction off her own
house and they convert the bedroom the garage into a
bedroom and they've just chucked a bed in there and
a few fluffy cushions and she's like, yes, five bedroom house.
Speaker 3 (08:08):
Some well, cam.
Speaker 2 (08:09):
Some new data has come out from Domain which looks
at the top search trends. So when people are searching
for homes online, what are they typing into the search box?
Speaker 4 (08:18):
So you're sitting there going, oh, I'm not really in
the market, but I want to have a look at something.
Speaker 3 (08:22):
Yeah, typing epic garages.
Speaker 2 (08:24):
Yes and yep and whatever else you type in and
see what comes up. And so we've got some data
which shows the most popular search terms search trends nationally
and here in Canberra too, And so let's find out
what those results were and say good morning to doctor
Nicola Powell, head of research and economics at Domain Hei Nikolay,
how are you going good?
Speaker 6 (08:43):
Thank you?
Speaker 3 (08:44):
That's good.
Speaker 2 (08:45):
Now, look, can you give us an overview of this
research and what it shows.
Speaker 6 (08:49):
But we know that spring is that peak season for
the property market. There's more listings, there's more auctions, there's
more transactions overall. But what we did is we took
domains buy a search behavior to see really what's driving
demand this year and what it really revealed is some
shifting priorities. We're shifting towards some practical features and there's
(09:10):
some affordability Trade office occurring.
Speaker 2 (09:13):
Okay, and what story does the data tell us?
Speaker 6 (09:17):
It really does show that Australians are rethinking what that
dream home is. So it's not just about lifestyle, so
that's things like pools, which is always number one. What
we're finding is things like dull living and granny flat
is now rising through the ranks. So I think it
really does show that buyers are looking for potential income
(09:39):
or just the flexibility of a floor plan. So I
do think we are seeing floor plans being reimagined. Granny
flat was the number one search time.
Speaker 4 (09:47):
Okay, so granny flats nationally are the number one search inquiry.
Let's get local. Now, what are we searching for in
the nation's capital here?
Speaker 6 (09:56):
Look, Camber always likes to be a bit different, doesn't it.
I think we always know the you know, granny flat
is number one nationally, took over Paul, which is really
did shock me, and it takes a lot to shock
me in real estate. But in Canberra the number one
search term is actually north I think that really does
(10:16):
reflect orientation is really important, Sunlight is really important, and
Paul was number two. So Paul is still up there
for the acting.
Speaker 3 (10:26):
Yeah, okay, all.
Speaker 4 (10:26):
Right, now let's go because this next inquiry it is
just so Canberra, isn't it.
Speaker 3 (10:32):
And this has dropped off nationally.
Speaker 4 (10:34):
What is the number three thing that people are searching
for here in the nation's capital when they're talking about property?
Speaker 3 (10:40):
Goni kla It is study.
Speaker 2 (10:43):
I mean it says.
Speaker 6 (10:44):
So much, doesn't it about a Canbern That study still
remains in the top three. And what we have seen
nationally is it really has dropped off. And Canberra is
the only capital city where study remains in the top three, right.
Speaker 2 (10:58):
And do you think that's a lot to do with
like lots of people still here working from home and
wanting to work from home. It comes down to that.
Speaker 6 (11:06):
I think, so. I think it is probably also reflective
of the large volume of workers that work in the
public sector also and the priority of working from home.
I think it is quite funny though, because when you
do think about the commutability of Canberra, canber is a
really commutable city. So it does surprise me that study
(11:28):
is still up there when you reflect it against somewhere
like Sydney, where actually, you know, working from home is
you know, you would imagine it's still such a priority
because it takes such a long time to get from
A to B Sydney in Canberra less.
Speaker 2 (11:41):
So yeah, all right, well, we love finding out the
camera information there, especially the number three search term, which
is study in Camberra. Nicola, thank you so much for
sharing that with us this morning.
Speaker 6 (11:52):
Thank you.
Speaker 2 (11:54):
That's doctor Nicola Powell, head of research and economics at Domain.
You can see the full report online. Okay, let's just
put ourselves in this position just for a second. And
this is a position many people will find themselves in
today and have done in the past, and we'll do
moving forward. Let's pretend you and I don't know each
other from a bar of soap. Okay, we're at an
option we want the same place. It's just you and I.
(12:15):
We're going at it. What do you do to win?
How do you make it competitive.
Speaker 3 (12:19):
When it's just down to the last two?
Speaker 2 (12:21):
How does that all play out?
Speaker 1 (12:23):
Now?
Speaker 2 (12:23):
The one man who deals with this all the time,
Alex Brown, sales director and award winning auctioneer Ray White,
knows all about it. Alec, good morning, Brene cam how
are we both good?
Speaker 3 (12:35):
Thank you?
Speaker 7 (12:35):
Now?
Speaker 2 (12:35):
Look, what is a typical scenario where it's come down
to two bitters and they're going head to head?
Speaker 7 (12:42):
It's a challenge ultimately. Look, I can't separate the two
parties other than obviously the final number, and I can
appreciate both really want it. There's some I guess, some
security in that knowledge that somebody else desperately wants the
home that you want. But you know, ultimately it comes
down to a bit of a game of strategy, putting
yourself in the mindset of somebody else and giving yourself
(13:04):
a competitive advantage.
Speaker 4 (13:05):
So what's the big mistake, the one big mistake that
you see people make when they go head to hea.
Dore they throwing in massive, big bids or do they
reduce the bids?
Speaker 3 (13:12):
What's the thing that they wrong that you're going to say,
don't do that again.
Speaker 7 (13:17):
I think there's two things. The first is hesitation when
you really are I think at the point the end,
it's natural to be a little bit hesitant, and in
some cases that can appear to be a little bit
weak by comparison to maybe how somebody else is going.
Speaker 4 (13:33):
Yea, I was going to say, you can't show weak
don't show weakness.
Speaker 7 (13:38):
Even if you are right up there with your budget.
That's perfectly fine. The second thing is, I guess, falling
for the short play, and by that I mean matching
the last bid, and so many options are down to
the last thousand, the last five hundred dollars. Increments sometimes
just by setting yourself apart and just putting in a
larger bid earlier, it's going to the tour your competition.
Speaker 4 (13:59):
Okay, So let's take Renee out of the scenario now,
and she's got enough cash to employ a buyer's agent.
That's nice, right, So now you're up again, as agent
who is very experienced in these sorts of scenarios.
Speaker 3 (14:14):
How does that play out for you? What should you do?
Speaker 7 (14:18):
Look again, I think it is about confidence and understanding
as well the bias agent. Look, they'll have their own
tactics and strategies, but they're going to be governed by budgets.
They're going to be governed by clients instructions ultimately. So
while it can sometimes feel like a disadvantage if you're
there to play ball, if you've done your research and
done a little bit of homework around options previously, really
(14:39):
it's really just like bidding against another buyer.
Speaker 2 (14:41):
Yeah, okay, And what's the number one tip you've got, Alec?
The number one tip for anyone who finds themselves in
this situation because it's scary, isn't it?
Speaker 7 (14:50):
It is? And look, you know, my heart goes out
to every bitter frankly in these situations because if only
we had more homes just like the one that they love.
But realistically, my best vice would be show some confidence, like,
really make it look like you are there to own it,
that you are determined.
Speaker 3 (15:07):
You're unstoppable and burn well, you'd.
Speaker 7 (15:09):
Be amazed, I hear it. Quite frankly. Oh well, you know,
the other party just wanted it more than me, and
I just felt like it was, you know, it was
there to win, and you know I just walked away.
And you know, if you if you're there with that confidence,
if you have that you know a bit of bravado,
bit of swagger in your steps.
Speaker 4 (15:27):
I was going to say, you go walk into a swagger,
don't you.
Speaker 2 (15:29):
It's all in how you're standing even, I guess, and
all the things.
Speaker 4 (15:33):
Goodness lovely, all right, Alex, tell us how many? How
many options are you doing today?
Speaker 7 (15:38):
Just a quiet four on the run sheet today. I'm
standing in the beautiful blue sky, the wind is flapping
along with the auction flags and ready to get going.
Speaker 2 (15:46):
Well, we're glad we could be your vocal warm up
this morning for your for your day marhead. Alex, thanks
so much for your time. We love having you on
the show and all the best for your options today.
Speaker 7 (15:57):
Thank you so much.
Speaker 5 (15:58):
Thanks, Thanks.
Speaker 7 (15:58):
Can you enjoyed this Saturday?
Speaker 2 (16:00):
Yeah? Cheers, thank you. Alec Brown, sales director and award
winning auctioneer at Ray White.
Speaker 4 (16:05):
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
Speaker 1 (16:18):
Cam and Renee's Real Estate Show on Mix one O
six point three
Cameron Renee's Real Estate show on Mix one oh six
point three be the Envy of Camera Live in de Burgert,
Northborne Village by JW.
Speaker 2 (00:09):
Land now selling Well, can we have another Mix one
o six point three real Estate show podcast? After another
really fun and interesting show.
Speaker 3 (00:16):
Yeah.
Speaker 4 (00:16):
We spoke to Steve Blow, one of our regular guests,
director at the Agent, in camera about people who try
and convert a three bedroom house into a four bedroom
house or vice versa by putting extra walls in and
changing the layout of the house and whether that increases
or decreases the value. And you could hear like he's
been around the block a few times, you could hear
(00:37):
the frustration in his voice when people don't follow the
compliant measures that you have to. Yeah, because the place
has just become harder to sell.
Speaker 2 (00:46):
Yes, and all the approvals and stuff. So it's stuff
that it's something that happens all the time. So that
was a really interesting chat. Another one he spoke to
doctor Nicola Poud from Domain about the top buyer search trend.
So people go online to search for a house, what
they're typing in all the different terms.
Speaker 4 (01:01):
So you'll hear speak about the national results and that
has changed. It's not swimming pool anymore. People aren't typing
that in are they typing in granny flats? Yes, which
that's nationally locally though, yes, very different story.
Speaker 2 (01:14):
Yes, and so she shared with us the local results
and they are very super Canberra Cambra, which is really interesting.
And another interesting chat with Alec Brown, who's won awards
for his auctioneering skills. He's from ray White. When you're
at an option and it's down to you and another bitter,
what does that look like that whole process, because it's scary,
it's nerve wracking, it's emotional, it's all the things. So
(01:36):
he ran through that with it.
Speaker 4 (01:37):
It was gavels at fifteen paces, yes, and so the
best thing about Alec, like you just listened to him.
He has been around the block plenty of times.
Speaker 5 (01:45):
Yep.
Speaker 3 (01:45):
He's highly experienced.
Speaker 4 (01:47):
And then when we finished up speaking with him, he
had four options to do on the Saturday, so like
he's just neck deep in this.
Speaker 2 (01:53):
Rot day in the life.
Speaker 3 (01:54):
Hey, yep, all right.
Speaker 4 (01:55):
So a really interesting discussion with Alec as well. Thank
you for if you were listening to us on Saturday
and you're reliving it, thank you.
Speaker 3 (02:02):
But also thanks for jumping on now.
Speaker 4 (02:04):
All thanks to JW Lamb A mixed Oney six point
three Nkim.
Speaker 2 (02:08):
A question we're going to ask this morning. This is interesting.
You and I were chatting about this offair before. If
you have a four bedroom house and want to turn
it into a three bedroom house, does that decrease the
value or vice versa?
Speaker 3 (02:20):
Okay, and you've had like an experience.
Speaker 2 (02:22):
With this, haven't you, well similar kind of kind of flipped.
So when we were looking for when we were before
we bought the place we're currently in, there was one
place where they'd advertised it as I think a four
or five bedroom I can't remember, but really they just
got one of the rooms and chucked a wall in
the middle, so it was like two pantry sized spaces
that they were saying were two separate bedrooms.
Speaker 4 (02:45):
And so when you walked in and saw that for
the first time, like how did you go with that?
Speaker 2 (02:48):
It just turned me off immediately because I'm like, these
are not bedrooms. They're just trying to make it sound
like the house has more rooms. Anyway. Steve low is
director at the Agent team Camera and when to see
this stuff happen all the time. No doubt, Steve, Good.
Speaker 5 (03:01):
Morning, Good morning.
Speaker 2 (03:03):
Now, look, do you have an example of where someone
has changed a four betty into a three bedroom home
and why they decided to do that?
Speaker 5 (03:12):
Yeah, well we've done it. We've done a three bedroom
into a two bedroom, or two bedroom into a three bedroom,
or four bedroom into a fire bedroom, and a fire
bedroom back into a four bedroom. Okay, yes, but I
have not yet done a five bedroom into a ten bedroom.
But hey, I like the idea raised before.
Speaker 4 (03:28):
Yeah, but I mean listening to your sigh of frustration
there as you went to answer that.
Speaker 3 (03:33):
So is this a thing for you?
Speaker 4 (03:35):
Do you walk into a place and someone has made
that changing, You've just thinking to yourself, you're not selling
it correctly.
Speaker 3 (03:42):
Haven't done the right thing here?
Speaker 5 (03:44):
Yeah, and there's also you know, people do a lot
of time a garage conversion as well. So let's get
back to this. Okay, So a four bedroom is not
always a four bedroom, as an age just said before.
Sometimes that fourth bedroom is so small we can barely
call it a bedroom. A small like a cupboard with
a bed.
Speaker 2 (04:00):
Yeah.
Speaker 5 (04:00):
Now, four bedroom, one bathroom homes are really hard to
sell because the family needs two bathrooms. So the best
thing is with that four bedroom, one bathroom is to
convert that fourth bedroom into ideally an en suite or
another bathroom. Therefore, it's changing it into a three bed
two bath which in most cases will sell better than
a four bed one bath that's got a compromise floorplan.
Speaker 2 (04:23):
Yes, and my brother's just done a very similar thing.
He's just moved into a house in the Belconnan area
because they needed that extra bathroom. They were in that
situation before and have now got away from that because
it was just too tricky. And so for people who
are thinking about that sort of change, what should they
be considering.
Speaker 5 (04:45):
Well, it's not always possible because there's a couple of
requirements that a bedroom must meet and has to have
natural light and ventilation, which I mean done with an
openable skylight. You can't always convert your garage into a
habitable space. You know, it might not have a the
membrane beneath the concrete slab. There's a ton of different
compliance reasons as well, So if you do it without
(05:06):
approvals then you're only going to probably cause future issues
when you do decide to sell. So the best thing
to do is get a building certifier involved. And an agent.
They can give you some good advice before you sort
of do any work.
Speaker 4 (05:18):
I mean, but there's one Nigel Johnson who works at
the radio station here and his place that he has
two car garage and he's converted half of that into
a bar space with a big lounge and he's and
he's getted it out correctly or really really well. But
I don't think there's too many compliance issues there because
then changes structure or anything like that. So you can
(05:40):
get away with a sort of semi conversion, can't you.
Speaker 5 (05:46):
Are we being recorded?
Speaker 2 (05:49):
We are live, let's just be clear.
Speaker 5 (05:51):
Yeah, well, technically every most alterations will require some sort
of government approval. It really depends on the type of alteration.
And as you probably are where most people in camera
are just seem to do whatever they'd like and get
away with it. Some do, some don't.
Speaker 4 (06:08):
I had a conversation with a real est age and
state agent on site on Thursday at a place and
she was saying, we can't sell this place because of
that bit as not compliant that bit and they just
go and change it, and there's you know, they just
don't follow the.
Speaker 5 (06:23):
Rule bar Yeah, correct, and some things are not approvable,
and others could be approved with a little bit of work.
Speaker 2 (06:29):
Okay, And do you think some of these conversions that
perhaps happen without the right guidance, perhaps does that kind
of decrease the value when those people were thinking, perhaps
we'd make a lot more money, Because.
Speaker 5 (06:43):
Yeah, absolutely so. We saw one in later about eighteen
months ago, and the owner had done an amazing job
of converting the garage into another bedroom with an en
suite and a little kitchenette. Beautiful construction, really really nice,
but unapprovable, and so we could not have the tie
that has that third bedroom because it's not technically classed
(07:05):
as a habitable room, and so therefore it actually decreased
the value of the property because most people don't want
to take on that risk, even though the risk is
fairly low. You never know, But the only way to
get that one to improved would be to do significant
work to install the right vapor barriers beneath the concrete
slat and things like that, which you probably is not
going to do.
Speaker 2 (07:26):
Yeah, oh goodness, well, no doubt, like you, like you
sort of indicated at the beginning, you see this all
the time. But as long as you people get the
right advice from the right people. I think that's the
good message.
Speaker 4 (07:36):
Must been the counseling session for Steve, isn't it. You
know we have a sigh.
Speaker 2 (07:41):
Does you feel a bit better now? Yes, thanks, we're
here for you.
Speaker 3 (07:47):
The invoices in the male.
Speaker 2 (07:50):
Yeah, that's the thanks for your time this morning. Have
a good weekend, you do. Thank you. Steve Low, director
at agent Team Camber. Reminds me of that cath and
King episode where Kath decides to waction off her own
house and they convert the bedroom the garage into a
bedroom and they've just chucked a bed in there and
a few fluffy cushions and she's like, yes, five bedroom house.
Speaker 3 (08:08):
Some well, cam.
Speaker 2 (08:09):
Some new data has come out from Domain which looks
at the top search trends. So when people are searching
for homes online, what are they typing into the search box?
Speaker 4 (08:18):
So you're sitting there going, oh, I'm not really in
the market, but I want to have a look at something.
Speaker 3 (08:22):
Yeah, typing epic garages.
Speaker 2 (08:24):
Yes and yep and whatever else you type in and
see what comes up. And so we've got some data
which shows the most popular search terms search trends nationally
and here in Canberra too, And so let's find out
what those results were and say good morning to doctor
Nicola Powell, head of research and economics at Domain Hei Nikolay,
how are you going good?
Speaker 6 (08:43):
Thank you?
Speaker 3 (08:44):
That's good.
Speaker 2 (08:45):
Now, look, can you give us an overview of this
research and what it shows.
Speaker 6 (08:49):
But we know that spring is that peak season for
the property market. There's more listings, there's more auctions, there's
more transactions overall. But what we did is we took
domains buy a search behavior to see really what's driving
demand this year and what it really revealed is some
shifting priorities. We're shifting towards some practical features and there's
(09:10):
some affordability Trade office occurring.
Speaker 2 (09:13):
Okay, and what story does the data tell us?
Speaker 6 (09:17):
It really does show that Australians are rethinking what that
dream home is. So it's not just about lifestyle, so
that's things like pools, which is always number one. What
we're finding is things like dull living and granny flat
is now rising through the ranks. So I think it
really does show that buyers are looking for potential income
(09:39):
or just the flexibility of a floor plan. So I
do think we are seeing floor plans being reimagined. Granny
flat was the number one search time.
Speaker 4 (09:47):
Okay, so granny flats nationally are the number one search inquiry.
Let's get local. Now, what are we searching for in
the nation's capital here?
Speaker 6 (09:56):
Look, Camber always likes to be a bit different, doesn't it.
I think we always know the you know, granny flat
is number one nationally, took over Paul, which is really
did shock me, and it takes a lot to shock
me in real estate. But in Canberra the number one
search term is actually north I think that really does
(10:16):
reflect orientation is really important, Sunlight is really important, and
Paul was number two. So Paul is still up there
for the acting.
Speaker 3 (10:26):
Yeah, okay, all.
Speaker 4 (10:26):
Right, now let's go because this next inquiry it is
just so Canberra, isn't it.
Speaker 3 (10:32):
And this has dropped off nationally.
Speaker 4 (10:34):
What is the number three thing that people are searching
for here in the nation's capital when they're talking about property?
Speaker 3 (10:40):
Goni kla It is study.
Speaker 2 (10:43):
I mean it says.
Speaker 6 (10:44):
So much, doesn't it about a Canbern That study still
remains in the top three. And what we have seen
nationally is it really has dropped off. And Canberra is
the only capital city where study remains in the top three, right.
Speaker 2 (10:58):
And do you think that's a lot to do with
like lots of people still here working from home and
wanting to work from home. It comes down to that.
Speaker 6 (11:06):
I think, so. I think it is probably also reflective
of the large volume of workers that work in the
public sector also and the priority of working from home.
I think it is quite funny though, because when you
do think about the commutability of Canberra, canber is a
really commutable city. So it does surprise me that study
(11:28):
is still up there when you reflect it against somewhere
like Sydney, where actually, you know, working from home is
you know, you would imagine it's still such a priority
because it takes such a long time to get from
A to B Sydney in Canberra less.
Speaker 2 (11:41):
So yeah, all right, well, we love finding out the
camera information there, especially the number three search term, which
is study in Camberra. Nicola, thank you so much for
sharing that with us this morning.
Speaker 6 (11:52):
Thank you.
Speaker 2 (11:54):
That's doctor Nicola Powell, head of research and economics at Domain.
You can see the full report online. Okay, let's just
put ourselves in this position just for a second. And
this is a position many people will find themselves in
today and have done in the past, and we'll do
moving forward. Let's pretend you and I don't know each
other from a bar of soap. Okay, we're at an
option we want the same place. It's just you and I.
(12:15):
We're going at it. What do you do to win?
How do you make it competitive.
Speaker 3 (12:19):
When it's just down to the last two?
Speaker 2 (12:21):
How does that all play out?
Speaker 1 (12:23):
Now?
Speaker 2 (12:23):
The one man who deals with this all the time,
Alex Brown, sales director and award winning auctioneer Ray White,
knows all about it. Alec, good morning, Brene cam how
are we both good?
Speaker 3 (12:35):
Thank you?
Speaker 7 (12:35):
Now?
Speaker 2 (12:35):
Look, what is a typical scenario where it's come down
to two bitters and they're going head to head?
Speaker 7 (12:42):
It's a challenge ultimately. Look, I can't separate the two
parties other than obviously the final number, and I can
appreciate both really want it. There's some I guess, some
security in that knowledge that somebody else desperately wants the
home that you want. But you know, ultimately it comes
down to a bit of a game of strategy, putting
yourself in the mindset of somebody else and giving yourself
(13:04):
a competitive advantage.
Speaker 4 (13:05):
So what's the big mistake, the one big mistake that
you see people make when they go head to hea.
Dore they throwing in massive, big bids or do they
reduce the bids?
Speaker 3 (13:12):
What's the thing that they wrong that you're going to say,
don't do that again.
Speaker 7 (13:17):
I think there's two things. The first is hesitation when
you really are I think at the point the end,
it's natural to be a little bit hesitant, and in
some cases that can appear to be a little bit
weak by comparison to maybe how somebody else is going.
Speaker 4 (13:33):
Yea, I was going to say, you can't show weak
don't show weakness.
Speaker 7 (13:38):
Even if you are right up there with your budget.
That's perfectly fine. The second thing is, I guess, falling
for the short play, and by that I mean matching
the last bid, and so many options are down to
the last thousand, the last five hundred dollars. Increments sometimes
just by setting yourself apart and just putting in a
larger bid earlier, it's going to the tour your competition.
Speaker 4 (13:59):
Okay, So let's take Renee out of the scenario now,
and she's got enough cash to employ a buyer's agent.
That's nice, right, So now you're up again, as agent
who is very experienced in these sorts of scenarios.
Speaker 3 (14:14):
How does that play out for you? What should you do?
Speaker 7 (14:18):
Look again, I think it is about confidence and understanding
as well the bias agent. Look, they'll have their own
tactics and strategies, but they're going to be governed by budgets.
They're going to be governed by clients instructions ultimately. So
while it can sometimes feel like a disadvantage if you're
there to play ball, if you've done your research and
done a little bit of homework around options previously, really
(14:39):
it's really just like bidding against another buyer.
Speaker 2 (14:41):
Yeah, okay, And what's the number one tip you've got, Alec?
The number one tip for anyone who finds themselves in
this situation because it's scary, isn't it?
Speaker 7 (14:50):
It is? And look, you know, my heart goes out
to every bitter frankly in these situations because if only
we had more homes just like the one that they love.
But realistically, my best vice would be show some confidence, like,
really make it look like you are there to own it,
that you are determined.
Speaker 3 (15:07):
You're unstoppable and burn well, you'd.
Speaker 7 (15:09):
Be amazed, I hear it. Quite frankly. Oh well, you know,
the other party just wanted it more than me, and
I just felt like it was, you know, it was
there to win, and you know I just walked away.
And you know, if you if you're there with that confidence,
if you have that you know a bit of bravado,
bit of swagger in your steps.
Speaker 4 (15:27):
I was going to say, you go walk into a swagger,
don't you.
Speaker 2 (15:29):
It's all in how you're standing even, I guess, and
all the things.
Speaker 4 (15:33):
Goodness lovely, all right, Alex, tell us how many? How
many options are you doing today?
Speaker 7 (15:38):
Just a quiet four on the run sheet today. I'm
standing in the beautiful blue sky, the wind is flapping
along with the auction flags and ready to get going.
Speaker 2 (15:46):
Well, we're glad we could be your vocal warm up
this morning for your for your day marhead. Alex, thanks
so much for your time. We love having you on
the show and all the best for your options today.
Speaker 7 (15:57):
Thank you so much.
Speaker 5 (15:58):
Thanks, Thanks.
Speaker 7 (15:58):
Can you enjoyed this Saturday?
Speaker 2 (16:00):
Yeah? Cheers, thank you. Alec Brown, sales director and award
winning auctioneer at Ray White.
Speaker 4 (16:05):
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
Speaker 1 (16:18):
Cam and Renee's Real Estate Show on Mix one O
six point three
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