Talking Real Estate with John Gibson and The Green Machine, Danny Green

Episode 8 of Talking Real Estate John is joined by The Green Machine, Danny Green.

With lockdown restrictions and Australians looking local, Green also sees growth in the West Australian regional areas he’s and investing local. Great wines, great surf, great lifestyle.

To listen to the full podcast click here.

Despite all that’s going on with these lockdowns in Sydney, Brisbane & Melbourne right now, is the appetite for buying owner occupied or investment property still strong?

Prices are continuing to rise and the appetite is as strong as ever in both residential and commercial sectors. All prime assets are in high demand right now. The market is proving to be very resilient!

Let’s look at the facts – Sydney house prices have increased on average over 17% this year. Brisbane around 13.5%, beating Melbourne. Melbourne still had growth in the range of 10.5%.

With the current lockdown restrictions in place, stock levels are going to drop – there’s no doubt about that! Some sellers will delay bringing new properties to market until conditions normalise.

Stock levels in Sydney are down about 21% since this time last year. Hobart is down about a massive 39%. Even Perth is down over 13%.

The older generation’s dream was to pay off the mortgage. The younger generation’s dream is to get one.

If people can’t earn money and these lockdowns are extended will property be affected?

It will be interesting to see if an extended lockdown will put the handbrake on the market. With many people unable to work right now, a long extension could have an impact on people’s ability to service their loans.

When it comes to retail and office leasing, what’s the state of play here?

It’s been a tough old year here! Retail and office leasing is getting hit hard again. I think vacancy rates will increase in the short term. The rollout of the vaccine is key to getting life back to normal. This will trigger more confidence in the marketplace. The timing and willingness for businesses to commit to a long term lease will be dependent on the rollout.

If this Pandemic goes on will it affect the property prices?

My tip – The property market is going to be robust once restrictions ease, especially in blue-chip areas.

Commercial Buyer’s Agent Service

Balgowlah

Negotiated: Off Market Bulky Goods property
Price: $7,000,000
Purpose: Showroom for National Retailer

Residential Buyer’s Agent Service

Manly Vale

Negotiated: Apartment
Price: $1,260,000
Purpose: Investment

Tenant Representation

Sydney CBD

Negotiated: Secured B-grade office lease
Terms: Large incentive
Purpose: IT Firm expansion

Sellers Advocacy

Redfern

Type: Dilapidated House
Service provided: We managed the sale of our client’s property
who lived in regional NSW
Sold Price: $1,330,000 (record price for the area/ appointed agent
Belle Property)
Purpose: Capitalising on property market

Testimonial:

“We used John to purchase an investment property in Brisbane. We had a pretty good idea of the sort of property we were looking for, but no idea where to look or how to start. John talked us through our strategy, identified areas that met our criteria, took on board our feedback on properties we rejected and found us a great property in an area we would never have thought to look.

The negotiations were not straightforward, but throughout he was solutions focused and got the deal over the line. Nothing was too much trouble and we’d use him again without hesitation.” –Mitch B.