Episode 20 of Talking Real Estate, John is joined by Dino Mezzatesta CEO of Cronulla Sharks
Dino is one of Australia’s leading sports administrators and has been the CEO of the Cronulla Sutherland Sharks since 2020. In this episode John, Mark and Dino discuss where the property market is currently, as well as the continuing battle the Sharks face to obtain funding for the Centre of Excellence and upgrade of PointsBet Stadium.
Check out the clip below…
To listen to the full podcast click here.
- The market appears to be moving in the right direction after remaining flat in February (-0.1%). CoreLogic’s national Home Value Index (HVI) posted the first month-on-month rise since April 2022, up 0.6% in March.
- With a decrease in the availability of new properties and an anticipated rise in demand, it appears that the property market in New South Wales for residential properties will be appealing to investors seeking income returns in 2023.
- Investors and owner-occupiers have always found Western Sydney to be a wise investment option, and we believe that this trend will persist in 2023 despite the market’s weakness. The region benefits from significant infrastructure investment and boasts lower median house prices, which, combined with the growing trend of remote work, have highlighted the appeal of affordable, spacious homes with backyards as highly desirable and viable long-term investments.
- Some evidence, including data from leasing agents, indicates that retail vacancies in the major central business district and many well-regarded suburban strips have declined in recent months.
Countries with Increased Housing Prices (2010‒2022)
Property demand and prices have increased exponentially all over the globe. Leading the group of 45 countries with increased housing prices is Iceland, with local real prices more than doubling since 2010. Australia by comparison –
| Housing Prices by Country | Real Price Growth | Nominal Price Growth |
|---|---|---|
| 🇦🇺 Australia | 41% | 85% |
| 🇮🇸 Iceland | 103% | 202% |
| 🇪🇪 Estonia | 97% | 196% |
| 🇳🇿 New Zealand | 97% | 152% |
| 🇨🇱 Chile | 95% | 205% |
| 🇹🇷 Turkey | 91% | 902% |
| 🇨🇦 Canada | 90% | 148% |
| 🇱🇺 Luxembourg | 85% | 135% |
| 🇭🇺 Hungary | 84% | 168% |
| 🇭🇰 Hong Kong | 83% | 155% |
| 🇮🇱 Israel | 80% | 104% |
Many other emerging market economies also saw housing prices increase. In India and Malaysia, housing prices are up by 59%. Likewise, the Philippines (50%) and Colombia (40%) also saw real prices increase faster than the global average.
Source: Zero Hedge
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