The property outlook for 2024 that mainstream media won’t tell you, with Terry Ryder – Ep. 100

In this episode of the Geared for Growth podcast, Mike is joined by one of Australia’s leading independent property researchers and Director and Founder of Hotspotting.com.au, Terry Ryder, to share his views on what we can look forward to in real estate in 2024.

As we come to the end of a year of rising interest rates, volatile house prices and a housing affordability crisis, it’s hard to know what to believe in the media. As author of four books on the property market in Australia and with a background in property writing and editing at The Courier Mail and the Australian Financial Review, Terry knows how to look through the noise and identify what’s really going on.

In this conversation, Terry explains why he refrains from making broad brush statements about movements in Australian house prices, and why he believes Economists and Bank Valuers often get predictions wrong. Terry talks through the often-touted negative correlation between interest rates and property prices and takes a look back at history to show there are many more factors at play in the residential market.

Terry and Mike discuss the impact rising house prices have had on big city living and Terry describes what he calls the “exodus to affordable living”. They talk through the factors Terry looks for when identifying “hot spots” and explore why all infrastructure spending is not equal when it comes to the impact on regional centres.

In this episode you won’t want to miss, Terry shares his thoughts on the property market for 2024, looking at both the major capital cities and rural areas. Having just completed their latest sales analysis, Terry refers to Hotspotting’s summer edition of price prediction index, and how it will feed into their 2024 outlook.

So if you’re wading your way through a myriad of media reports and feeling confused about what to do next in your property journey, you need to tune in to this week’s episode of the Geared for Growth podcast.

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https://www.hotspotting.com.au/hotspots/

In this episode of the Geared for Growth podcast, Mike is joined by one of Australia’s leading independent property researchers and Director and Founder of Hotspotting.com.au, Terry Ryder, to share his views on what we can look forward to in real estate in 2024.

• Why much of what is said about property in the media is misinformation
• The exodus to an affordable lifestyle
• Why the economists and other forecasters get it wrong
• The rise in demand for apartment living
• The danger in making one single prediction on the Australian property market
• Why not all infrastructure spending has the same impact
• What makes a town or region a “hot spot”
• Why getting investment right from the first purchase is so important
• Terry’s views on 2024 and how you can best arm yourself with the right information

“Real estate is a different animal and it’s got elements to achieve that you can’t factor into an algorithm or equation like just the Australian ethic of home ownership, how do you put that into an equation?” Terry 4:35

“Again this year in 2023 with interest rates rising, property prices rose in most locations including by 10% or more and some of our major capital cities, so you would think that maybe the theory of rising interest rates equaling falling prices is incorrect” Terry 7:44

“So what is important for people to do is actually have good sources of real information and do proper research so they can be abreast with what’s really going on as opposed to what the mainstream media is telling them is going on but there’s all sorts of reasons why real estate demand in the past twelve months has been stronger than expected and prices have done much better than expected” Terry 10:38

“Sydney’s been losing population to what we call internal migration for more than 10 years now and Melbourne for 5,6,7 years so it all started long before COVID came along, but just made it more visible and alerted more people to the possibilities” Terry 14:04

“Our definition of hot spotters is that location that will outperform the market long term right ’cause of the intrinsic nature of the economy we’re actually more interested in the economy of a place than the property market” Terry 27:04

“if you get the first one right having put in the leg work to do all those preliminary steps then that first one can be your leverage to get the second one and the third and actually build a portfolio overtime patiently and patience is something that not a lot of people who get excited about realestate have as a quality unfortunately” Terry 33:53

“That’s what I think is a hallmark of successful investors that are willing to invest in advice and information and themselves but most people aren’t sadly and that’s why they get these very poor results and (don’t) get beyond one property“ Terry 36:56

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