The big theme of the year in real estate has certainly been the rapid rise in interest rates and the flow-on effect that’s having on buyers, sellers and the overall economy.
Australia hasn’t experienced rate hikes of this magnitude since the 80s, and 2023 is likely going to be the year when we start seeing the real fallout take shape.
In this episode, podcast regular Matt Lahood sits down with Elite Agent Managing Editor Samantha McLean for a 2023 wrap – discussing how higher interest rates are impacting the different markets around the country and why some areas are holding up better than others.
Matt also talks about why he thinks there’s going to be an increase in sales next year and the best time to launch your marketing campaigns to get ahead of the pack.
They also explain where investors stand in the current market and what can be done by the government and regulators to help ease the rental crisis that’s currently gripping the nation.
“The economy is controlled by interest rates. You pull the lever and something slows down, but at some point, you’re going to have to come back and start it up again.” – Matt Lahood
Samantha and Matt also discuss:
- 4.43 – The fallout from rising prices and how that’s going to impact homebuyers in the next few years
- 8.46 – Should RBA Governor Lowe take responsibility for his failed projections on rate rises?
- 12.00 – The key factors that are helping keep property prices propped up and where prices holding up the best
- 16.26 – How to get investors back into the market to help ease the rental crisis and the need for government to be more “entrepreneurial” and less reactive
- 22.35 – Why days on market have remained relatively low
- 24.31 – The impact of the upcoming fixed interest rate loan cliff, when it’s going to hit and what that means for vendors
- 27.52 – How to launch your marketing campaign in the new year to beat the flow of new listings that will be coming onto the market
Links and resources mentioned
- Future in focus: Steve Carroll and Matt Lahood
- Matt Lahood: How to lead a team in a changing market
- Matt Lahood: 5 things to consider when starting your own agency
- Matt Lahood: Three trends to watch in 2022