The PROPERTY DOCTORS, Sydney Australia Novak Properties
EP. 1225 IMMIGRATION TRENDS S WHAT'S HAPPENING ON THE GROUND IN PROPERTY
Apr 30, 2024Season 26Episode 1225
Mark Novak, Billy Drury
Feel the heat as we fire up a conversation on immigration that's sizzling with fresh insights and unexpected angles. You're invited to join us on the northern beaches of Sydney for an unscripted look at how the influx of nearly 600,000 people is reshaping suburb growth, property prices, and community dynamics. It's not just numbers we're dishing up; it's the stories of dreams, dollars, and the real estate dance that are stirring the pot.
Get ready for a session that's brimming with on-the-ground observations and a heavy dose of skepticism. The rental crisis, the surge in property values, and interest rate hikes are all on the menu. I, Billy Drury, along with my co-host Mark, serve up a platter of stats and personal experiences that challenge the mainstream narrative. We're taking you street by street, suburb by suburb, revealing where newcomers are laying their roots and whether this migration mania really translates into the property pandemonium everyone's talking about. Don't miss out on this deep dive that might just redefine your views on Australia's immigration hustle.
Feel the heat as we fire up a conversation on immigration that's sizzling with fresh insights and unexpected angles. You're invited to join us on the northern beaches of Sydney for an unscripted look at how the influx of nearly 600,000 people is reshaping suburb growth, property prices, and community dynamics. It's not just numbers we're dishing up; it's the stories of dreams, dollars, and the real estate dance that are stirring the pot.
Get ready for a session that's brimming with on-the-ground observations and a heavy dose of skepticism. The rental crisis, the surge in property values, and interest rate hikes are all on the menu. I, Billy Drury, along with my co-host Mark, serve up a platter of stats and personal experiences that challenge the mainstream narrative. We're taking you street by street, suburb by suburb, revealing where newcomers are laying their roots and whether this migration mania really translates into the property pandemonium everyone's talking about. Don't miss out on this deep dive that might just redefine your views on Australia's immigration hustle.
Speaker 1:
Alright, ladies and gentlemen, so it's a topic we all feel really passionate about, immigration. When you're with buddies around a barbecue and everyone decides to talk a little bit about the economy, immigration always comes up. But we want to talk about what we're seeing on the ground stage. I'm the ringleader, billy. 10 o'clock sale last night. 10 o'clock, 10 o'clock well done, a 10pm sale.
Speaker 2:
It was a late night in the office, but we got the job done and back them up early this morning yeah, that's what we do it far out um immigration, guys and girls, and we're on the northern beaches of sydney.
Speaker 1:
We're real estate agents, we're dealing with the rental crisis, we're dealing with property. We're dealing with the rental crisis, we're dealing with property prices, we're dealing with interest rate rises, and we wanted to sort of let you know what's exactly happening out there in the streets. Reporting live on the scene Billy Drury.
Speaker 2:
Welcome to Australia was the show.
Speaker 1:
Oh no, Welcome to America welcome to america.
Speaker 2:
Well, I was trying to. I was trying to.
Speaker 1:
I was trying to pun, punt the um, pun the the thing off and then billy goes what's welcome to america? I've never heard of it and I was like getting old oh, we've got our own.
Speaker 2:
It's um. It is so interesting to see these staggering numbers coming through, though. Um. We're talking about nearly 600 000 people coming to the country, um, in all different, you know, walks of life, experience jobs here for different reasons. It's just an amazing I don't believe it? I don't believe it. So everyone's asking where on earth is, where are all these people going? And we're here. We're here to show you that this morning, we're also going to show you what that looks like for property prices yep, and I actually don't believe it.
Speaker 1:
Honestly. I'm going to show you that there's some information on the australian uh immigration. I don't believe it's as chronic as everyone's playing out, which is unusual.
Speaker 2:
Well, to start with, I found a really interesting little bit of information here. This is the top three suburbs for each state which seem the strongest population growth. So for New South Wales, at the top, victoria, queensland, south Australia, western Australia and Tassie down the bottom you can see the numbers are pretty strong. I mean for a town of any size, you know, nearly 40,000. At the top, victoria, again 40,000. It's very, very strong numbers. So I thought that was very interesting to see which suburbs they're tying into and I think everyone with their individual states will resonate why these areas might be stronger than others. But Blacktown, rouse Hill, really strong numbers for that southwest, inner west Balcombe Hills area for New South Wales.
Speaker 1:
My punt affordability. When you're coming to australia, you're an immigrant, you sit and I want to blow lots of cash on, on, um, on, you know stuff. So you probably go to at least a more least expensive place, um, and then it begins to cluster, because that's where your friends are sort of thing, your family, yeah, yeah, it's established sort of those, uh, those friendships, so that that that's um.
Speaker 2:
That is interesting. What are you seeing on the ground mark? Does this translate to property prices in um in some of these areas?
Speaker 1:
well, I don't believe it. First of all, guys and girls, have a look at this next graph when I show you um, so, to be so graphical, but if you look, here I am. So there was a mass exodus, um students, um immigrants were asked to leave. We generally have an intake in Australia of about 300k, but in one particular year we lost almost 300k. There's the year there 2021. We lost them all.
Speaker 1:
Now everyone's going bananas back in and now 2023, saying we've lost control. Immigration's doubled. We are doing stupid stuff, but we had a lot of students that had to come back. There was a massive number of those in immigration are actually students that are coming here for an education, and we had them. They had to come back to do their degrees, to complete their courses. So you know there's no bullshit, right? That is the graph for Australian immigration. I know we're in a rental crisis and I don't really believe we're in a rental crisis over those numbers. Look at the numbers, numbers. They are that that 2000. If you break that in half like a stick, that 2023, that half of the stick fits into 2021 that's immigration, powerful message it's bullshit and everyone's saying oh, you know it's, it's because we shouldn't be bringing so many people in.
Speaker 1:
We're just. We're just doing what we've done the last 10 years.
Speaker 2:
You can see the last 10 years how many people we've brought in yeah, there it is and um, you know that that that stupe those, um overseas students coming back. I think obviously it's created competition in certain price points, but you know that that's uh, that's normal. Then it just turns into a supply issue. So there's ways to address it. But more importantly, this morning we wanted to highlight where the population is going. Give me that graph Pretty, please, there you go. What are your thoughts for the next 12 months' population?
Speaker 1:
I think we'll just stick to that 300,000-400,000 that we've done the last 10 years.
Speaker 2:
Just keep going At a steady pace.
Speaker 1:
And I think that heat that's in that rental market, that I don't think has been generated by immigration I honestly don't. You can see what I've just shown you but I think that heat will remain and I think, due to that heat being Remaining, it would be irresponsible To bring in another 600 I've just shown you. But I think that heat will remain and I think, due to that heat remaining, it would be irresponsible to bring in another 600,000. So I think it'll sit around that sort of 300,000, 400,000,. We'll just go back to our regular stuff.
Speaker 1:
You know what COVID was? A really shit time economically. No one knew what they were doing and I think, look, I'm not political, but I think they did a great job. I think, look, I'm not political, but I think they did a great job. I think the governments and the citizens, I think we did real well. So, going into, you know, if it's a high interest rate, environment, market or whatever it is, I feel like the regulators, you know, sort of know what to do. They certainly knew what to do in uncharted waters of COVID, as much as most people would not agree with me, but I think these are chartered waters. You know these sort of economical woes.
Speaker 2:
Yeah, I guess that's the job. There's the measures, that's what they're doing and anything else to add Short segment, but very snappy.
Speaker 1:
No, I think that's great. So nice message out there. On immigration, I think it supports the barbecue conversation that people have with friends and family. It's a huge topic. At the end of the day, you put a stupid amount of immigration to a country. It's going to put pressure on inflation. It's going to put in pressure on rents. It's going to put pressure on property prices with so many people you know coming in. That's the bottom line. So it is an important thing to talk about and there's the numbers there's the numbers, there's the track record love you, see you.