My Clearance Rate: 7/12 SOLD
My Clearance Rate: 7/12 SOLD
And in case you haven't worked it out, developers don't want to touch a single thing. I had a development site today. You can build 17 units, da approved. No one wanted to touch it. A DA approved for 17 units, right? And I think it got passed in around 2829, right? So, team, what is he saying to you? Australia is the place to be, but it also is not the place to be if you want to be a homeowner of real estate, because the developers have stopped building. But mascot airport, tullum and Ring Melbourne Airport, they're just coming through the doors.
Speaker 1:So today I did 12 auctions and out of the 12, seven sold. There was a time in the morning that I was at four out of four, but things started to go a little bit pear shaped after that. As the day went on, more properties got passed in, and that's simply a sign in the markets that I'm operating in Sydney, where there is more stock on the market than what there is by, as that hasn't been the case for quite a while. So, seven out of 12. And what was the Standout best result today was a property in Alexandria in an area called the Golden Triangle hey, zaka, how are you? And that's sold for great money, great money, and I can't remember it, but it's sold for about, off the top of my head, 150 to 200 more than what the owners were prepared to accept.
Speaker 1:But I thought I'd shoot this video to give you a little bit of background on Michelle Bollack. Is that a name? Bollack's got the same surname as the actress Sandra Bollack, the new RBA governor. It was a relief bringing her into the job after having that guy for a while. But she said something dumb. She basically turned around and she said At this conference, australian households are doing quite good. Now, don't get me wrong, the conference was overseas, so I don't know. I don't know what people think, but there are a conference and the local people aren't going to hear what she said. She says oh, households in Australia doing quite good. They've actually saved a lot of money during COVID and they've been able to cope pretty well with the rate rises. I don't know what household she's referring to. I don't know what household she goes into. The households that I go into that's not necessarily the case, not all of them, but a lot of the households that I go, particularly when I'm doing auctions out West they're not doing OK, michelle Bollack. And as for your Bullock, whatever your name is. And as for your stupid, stupid question that was given to you about, sorry, the question wasn't stupid, your answer was stupid.
Speaker 1:She actually turned around and said oh no, inflation is a homegrown thing. People are spending a lot of money on hairdressers and dentists. What a ridiculous thing to say. What a ridiculous thing to say Like you go get a haircut, you get a haircut. You go get your teeth fixed up. You got to get your teeth fixed up. What do you want us to do? Right, keep inflation down by sitting at home and letting your teeth decay and growing your hair down to your shoulders. Right? So ridiculous thing to say.
Speaker 1:But I've got to tell you we're quite fortunate. We're quite fortunate. I'll tell you where she comes from, says Keith. We're quite fortunate because, with the third end rate rises that we've had and some are at the tipping point real estate has surprisingly done better than what expected. Having said that, I can tell you you got to Sydney, melbourne. At the moment there's a lot of stock in certain areas and property prices have definitely pulled back in the last few weeks. I'll speak to your local agent about that. Not all markets, but Sydney Melbourne, yes, but one of the reasons why we're still blessed is that this is a fact there are more millionaires migrating to Australia than any other country. In fact, I can just see that in the future we are going to be a society where, basically, you have the have and the have nots, those, hey, james those that have property and those that have not got property.
Speaker 1:And I've got to say to you, we've also got to look at changing the narrative. What a wonderful article by Alan Kohler today I can't remember which media publication. You've got to stop thinking and defining human beings on whether they own real estate, and he writes it very well. He writes it very well In the world that we live in now, financial success is a sign of luck more than a sign of anything else. Because if you think about it, if you're in an area that own real estate in Sydney you say, in the heart of the city, or you know, east, in the North, in the West, you're going to be rich, not because of your brains, but because life has panned out that you got real estate there. You might have been born there, you might have inherited real estate there, but we are now living in a world where a lot of people's financial wealth is tied up into their property, and their property is often tied up into just the circumstances of life. We need to let go of the narrative of thinking that if you own real estate or lots of real estate, you are better than a person that doesn't own real estate. End the story. And I say that because if we don't, we're going to end up having a situation where there's going to be a lot of people people that are younger in years that will feel like losers because they can't own a roof and four walls. I think the narrative's got to change and I think, in addition to that, councils have to have a good look at themselves and understand that they are an accessory to the housing problem.
Speaker 1:Because I've got to say to you supply is the issue, supply is the issue. Real estate is purely a demand and supply equation. You want to make it easier for people demanding real estate. You increase supply high-tas. So, as Erson says, the market doesn't make any sense. It doesn't make any sense. How can it make any sense when you've got one property that sells for four million and you drive three minutes away and there's no bidders on that one? It gets passed in at a million dollars. We've got a patchy real estate market and the reason it's no different to the block, like you said, at the block one goes for five million, one goes for three million. It's simple when people want the one thing, they'll go over the top on the one and the others won't get what they deserve based on that one.
Speaker 1:Anyway, team, love you to go watch that auction that I did in Alexandria, the one I was talking about. You know there was a heckler there that was saying put the hammer down, put the hammer down. It wasn't even registered. It wasn't even registered. Anyway, I ignored it. Price kept on going up.
Speaker 1:But I can tell you I have seen it before you don't need a great auctioneer for 70% of the properties, but you do need a good auctioneer for 30% of the properties. Which 30%? The ones that got curveballs, the ones that got the heckler, the ones that's got a vendor that's trying to outsmart the game and stuffs up the deal. You need deal makers, not order takers.
Speaker 1:When you get a vendor that's deciding what the vendor bid's going to be at and you know what price you're going to start at, you know you're basically saying let the patient drive the diagnostic and the maintenance plan for the person that's unwell, you get the patients that are driving the treatment plan. Think about that. That's what's happening in real estate every day when you have an agent that's got low leadership, that doesn't take control. So, team, I've got to say to you I'm auctioning tomorrow. It's good to actually be COVID free this time last week. Started feeling unwell, tested positive early last week. Ladies and gentlemen, that's a wrap 7 out of 12, more auctions tomorrow and I'm auctioning right till the 17th of December.