{"id":10767,"date":"2017-03-17T07:00:02","date_gmt":"2017-03-16T20:00:02","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=10767"},"modified":"2017-03-17T07:00:02","modified_gmt":"2017-03-16T20:00:02","slug":"property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\/","title":{"rendered":"Property investing fear busters + Don\u2019t fall foul of FOMO + Not all property markets going well"},"content":{"rendered":"<p><b><i><span style=\"text-decoration: underline\">Highlights from this week:<\/span><\/i><\/b><\/p>\n<ul>\n<li>Why more people don\u2019t invest in property.<\/li>\n<li>The real impact on investors from tighter lending policies.<\/li>\n<li>\u201cMore growth is on the way\u201d \u2013 Core Logic.<\/li>\n<li>Why it is not all plain sailing in the Aussie property market.<\/li>\n<li>Technology has changed how agents, buyers and property sellers work.<\/li>\n<li>Why too much information can be as dangerous as not enough.<\/li>\n<li>The reason why some investors are still paying too much for a property.<\/li>\n<\/ul>\n<p>&nbsp;<br \/>\n<strong>Transcripts:<\/strong><\/p>\n<h2>Too much information is not good &#8211; Meighan Hetherington<\/h2>\n<p><b>Kevin:<\/b>\u00a0 I started selling real estate in 1988 and quite often reflect back on just how much has changed in that period of time \u2013 in that relatively small period of time \u2013 that I\u2019ve been in the industry, probably no more so than the Internet. My guest to discuss this, Meighan Hetherington, who is a buyer\u2019s agent and probably hasn\u2019t been in the industry as long as that but certainly has seen a number of changes along the way.<br \/>\nMeighan, the Internet has changed so much about what we do, hasn\u2019t it?<br \/>\n<b>Meighan:<\/b>\u00a0 The Internet is a really interesting one, but it\u2019s actually what provides us, which is that instant access to a lot of information that we didn\u2019t use to have access to, I think, that has changed the way that we think about things and the way that we access information.<br \/>\n<b>Kevin:<\/b>\u00a0 When you say \u201cwe\u201d there, agents used to be the gatekeepers of all that information. We had that from the very early days, not as much as we have now, of course, or that is available now, but that information is available to the general public, which has changed the way agents work. We used to guard all that information and that was the power the agent had.<br \/>\n<b>Meighan:<\/b>\u00a0 It was, wasn\u2019t it? To be able to say what something sold for and how that compared to a property and what the market was doing was something that we had to work very hard as agents. I\u2019m a young one in the industry; I\u2019ve only been here since 2002. But it was something that was really quite sacred, the information that we had and who we shared it with and how we shared it with them.<br \/>\nI think the thing now is the access to information is much greater and people can get information from all sorts of sources. It\u2019s then working through that information and working out what\u2019s relevant, how to apply your knowledge of what\u2019s actually happening and interpret it.<br \/>\n<b>Kevin:<\/b>\u00a0 And that\u2019s how the role of the agents changed, of course, because now the agent is no longer the gatekeeper of the information; the agent has to help the consumer\u2026<br \/>\n<b>Meighan:<\/b>\u00a0 They\u2019re the interpreter.<br \/>\n<b>Kevin:<\/b>\u00a0 \u2026Interpret that information.<br \/>\n<b>Meighan:<\/b>\u00a0 Yes.<br \/>\n<b>Kevin:<\/b>\u00a0 And a classic example of that would be the number of online portals that are now available for consumers, and that information is taken and then massaged to give you an online appraisal of what you\u2019re property is worth.<br \/>\n<b>Meighan:<\/b>\u00a0 Yes. A database appraisal.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes. I want to talk to you about that because it\u2019s called desktop valuation. It\u2019s really a quite popular way for people to assess the value of their own property, and they\u2019re actually even promoted by some of the banks. There\u2019s one major bank that will actually have that stupid ad on television that I\u2019ve talked about where the agent is standing there like a dummy\u2026<br \/>\n<b>Meighan:<\/b>\u00a0 They\u2019re not very helpful. They really don\u2019t put a good slant on what the information is that the agent provides.<br \/>\nI think the online portal that provides an automatic valuation is only as good as the data that is input to the system that is then used through a series of algorithms to arrive at a number and often with an error range, if you like, and often those ranges can be very great.<br \/>\nBut say, for example \u2013 and there\u2019s a number of portals \u2013 if you log on and say automatic valuation, you come up with\u2026<br \/>\n<b>Kevin:<\/b>\u00a0 We could mention there\u2019s PriceFinder, there\u2019s CoreLogic, there\u2019s APM \u2013 they\u2019re the major ones.<br \/>\n<b>Meighan:<\/b>\u00a0 The main three.<br \/>\nThe challenge is that if the information that exists about the properties that are pulled in as the comparable property\u2026 So the valuation method they\u2019re using is comparable sales methodology. It is \u2013 to an extent \u2013 a reliable methodology to use and that\u2019s what the banks use, but it all depends on the data that is actually drawn into the system.<br \/>\nIf a property hasn\u2019t sold for a number of years or there\u2019s been a significant renovation done on a property, then the information that is actually held in that system about that property could be very out of date and quite irrelevant.<br \/>\nFor example, a three-bedroom house that was sold 10 years ago for a price might have a land value that\u2019s quite similar and a land size that\u2019s quite similar to the subject property. But if that property has had a significant renovation, it\u2019s been transformed into a five-bedroom house and the pool has been installed and the ducted air conditioning and it has lovely stone finishes in the bathroom, then that property may no longer be a comparable property to look at. So the data may be quite out of date if a property hasn\u2019t sold recently.<br \/>\n<b>Kevin: <\/b>\u00a0And to go even deeper, some of them actually will look at the location of that particular property, and it depends how far back it is from a main road as to what sort of rating they give it, what sort of valuation they give it. Plus, the other properties in the area, what\u2019s happened to those. If you get one of those off-the-shelf type sales where a property may have sold for much more than the median, it will actually drag the median up, and that impacts all of those valuations.<br \/>\n<b>Meighan:<\/b>\u00a0 It does. And I think the other things that an agent will really bring to the table \u2013 and particularly a buyer\u2019s agent \u2013 is to look a little deeper than what\u2019s on the screen, and that\u2019s looking at is there overland flow that might affect the value of the property. Is it right next-door to an Energex transformer? All of these things will have an impact on the property. Is there a view? Could that view by impeded? All of these you cannot put into an algorithm unless that information has been input by somebody and it\u2019s used within the algorithm.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes. Quite often someone will call an agent to come out to do \u2013 well, they think they\u2019re doing a valuation; they\u2019re doing an appraisal, the possibility of listing their property, mainly because they want to know what it\u2019s currently worth.<br \/>\nBut to think that an agent can walk in with five minutes\u2019 notice and come up with some kind of a reliable valuation of property, it\u2019s simply not going to happen. Valuers who train for years have to come out and they\u2019ll spend at least an hour and a half looking at the property, making notes about it, and then they\u2019ll do their research, a lot of which is ringing agents but looking up on some of these portals, as well.<br \/>\n<b>Meighan:<\/b>\u00a0 You have to be realistic with what it is that an agent is providing. An agent is giving you an indication of what the average buyer in the current market, who\u2019s not under duress to purchase, would pay for a property. So a market appraisal, if you like, is what a willing seller would sell for if they\u2019re not under duress and a willing buyer would be prepared to pay not under duress. What I mean by duress is if there\u2019s a financial imperative for them to do something in a short timeframe.<br \/>\nAn agent is using their experience of talking to so many different buyers, taking buyers through different properties, listening to the objections that buyers have about certain things about properties \u2013 whether that might be room size or layout or aspect or orientation \u2013 and bringing all of that information together in their knowledge base \u2013 their head \u2013 and saying, \u201cWell, here\u2019s where I see the things that people will like. Here\u2019s where I see the things that people might have a problem with. Based on that and the other comparable sales, I think it\u2019s sort of in this range.\u201d<br \/>\nBut to ask an agent to walk into a property and in 10 minutes give you an idea of what it\u2019s worth, they have a bit of work to do after they see a property to be able to give that range.<br \/>\n<b>Kevin:<\/b>\u00a0 It\u2019s the hardest thing for an agent to do. I always went into it with a great amount of trepidation when I had to go and do an appraisal or a presentation of any kind. Once you get to the conversation about the price, it\u2019s always difficult and that\u2019s why many agents are actually accused of buying the listing, in other words, over-inflating the value. Because there are two things I do know, and that is that every seller wants more than their house is worth and every buyer wants to pay less than what it\u2019s worth. So you\u2019re always going to have that bit of a gap.<br \/>\n<b>Meighan:<\/b>\u00a0 There\u2019s a fabulous cartoon about that, isn\u2019t there? Where the owner thinks their property is a mansion, the buyer thinks their property is a tent, and then the bank is there as well.<br \/>\n<b>Kevin:<\/b>\u00a0 And then the agent is sitting in the middle wringing his hands and wondering what the hell this is all about.<br \/>\nI did a search on a friend\u2019s property recently on one of these portals. I know what he wanted for it, and according to the valuation, it was something like a million dollars out.<br \/>\n<b>Meighan: <\/b>\u00a0Less than half by the look of it. Yes.<br \/>\n<b>Kevin:<\/b>\u00a0 It\u2019s actually worth, I think, what he wants for it because of the amount of work that he\u2019s done it, but it\u2019s lumped in with all the others in the area where the median is so low. I doubt that he\u2019ll get it, simply because he\u2019s probably over-capitalized, but it\u2019s worth every bit of what he wants, but he\u2019s just not going to get it.<br \/>\n<b>Meighan:<\/b>\u00a0 Well, it\u2019s worth what the buyer is prepared to pay at the end of the day, and if there\u2019s not a buyer that sees the same value in it as he sees, then that is market value.<br \/>\n<b>Kevin:<\/b>\u00a0 These conversations that you have with agents about valuations, what\u2019s your opening gambit to an agent where you have a client who wants to buy this particular property but you know that it\u2019s overpriced but they really want to pay for it? How do you talk to the agent?<br \/>\n<b>Meighan:<\/b>\u00a0 I talk about comparable sales. It\u2019s very important that I have a discussion with an agent around what has sold, where the comparables were superior and inferior, and then bring back to that agent the information that I would like them to have a discussion with the owner about.<br \/>\nAgents don\u2019t often set the price of properties; it\u2019s often the owners that set the price, and the agent\u2019s job then is to bring the market feedback. The agent can give them advice, but it\u2019s the owner\u2019s property and it\u2019s their prerogative. They can put whatever price they want.<br \/>\nI have always said my whole real estate career, asking price is irrelevant. What we want to know is what are the comparable sales? How does the property that we\u2019re interested in buying compare to those comparable sales? And how can I, as a buyer\u2019s agent, represent my buyer in the best way to get the lowest price that I can using that information?<br \/>\n<b>Kevin:<\/b>\u00a0 As always, Meighan, great talking to you. Thanks for your time.<br \/>\n&nbsp;<\/p>\n<h2>How effective are the regulator&#8217;s brakes? &#8211; Andrew Mirams<\/h2>\n<p><b>Kevin:<\/b>\u00a0 There\u2019s a lot of talk about the regulators are doing and how much they\u2019re pinning down investor lending, and without investor lending, obviously, we\u2019re not going to have investors. Without investors, we\u2019re not going to have rental properties. So, I\u2019m just curious to know if the regulators have really changed investor lending all that much. I want to pose that question of Andrew Mirams, regular contributor for us in the show. Andrew, of course, from Intuitive Finance.<br \/>\nAndrew, can you answer that question for me? Have they really changed investor lending that much?<br \/>\n<b>Andrew:<\/b>\u00a0 Good day, Kevin. Yes, it has changed quite a bit.<br \/>\n<b>Kevin:<\/b>\u00a0 Has it?<br \/>\n<b>Andrew:<\/b>\u00a0 In the last couple of years, we\u2019ve had a fair bit change going on in our markets where just all the lenders are being scrutinized a lot more. And to be honest, a lot of it is for good. We don\u2019t want boom-bust cycles, so really they\u2019re looking at just trying to moderate the markets and make sure people aren\u2019t over committing themselves. So things have changed.<br \/>\n<b>Kevin:<\/b>\u00a0\u00a0How are they doing that? Are they doing it by restricting the banks in terms of how much they can lend to how many people?<br \/>\n<b>Andrew:<\/b>\u00a0 Yes. Some of the things they\u2019ve done\u2026 When we talk about the regulators, we\u2019re talking APRA (Australian Prudential Regulation Authority, ASIC) and the Reserve Bank, and they\u2019re called the Council of Financial Regulators. They\u2019re all basically looking and saying, \u201cWe need to make sure we have a balanced market.\u201d<br \/>\nSo what are some of the things that they have been doing? The first thing they took the bat out to was high LVRs. Investors who are buying off the plan or buying investment property at 95% and 97%. The first thing they said was \u201cNo. We think that\u2019s dangerous. That\u2019s fraught with danger. Any little market movement, you\u2019re going to be sitting on clients with negative equity.<br \/>\nAnd that\u2019s probably happened in some of the mining towns in the boom-bust cycle we\u2019ve seen in outer Australia, in WA and Queensland, where people have really leveraged in when things were going well and now a lot of those clients are sitting on negative equity.<br \/>\nThat was the first thing they changed \u2013 the maximum loan-to-value ratio for how much lending you could get against a property as an investment, and that\u2019s now limited back to 90%, and even some lenders went beyond that where they had larger exposure and limited that back to 80%.<br \/>\nThe next thing the lenders did was start to then look at some postcodes and where they might have exposures and things like that. Again, this is being driven from the top down, so they\u2019re saying, \u201cLook, where do you think you have exposure? You need to start limiting that.\u201d<br \/>\nThe banks then started to look at a whole range of postcodes across the country, not probably by surprise, Kevin, where we a lot of cranes up on corners and a lot of development going on. And the banks have now said \u201cYou know, we have a really high exposure in certain postcodes. It\u2019s a bit like a house of cards that if one was to fall, gee, maybe we\u2019re at risk with all these things, and if people all walk away from them, we have a real issue in holding that sort of property.\u201d So they started to restrict then on postcodes. The banks have probably done that themselves, just looking at where they may have exposures.<br \/>\nWhat a lot of the lenders were doing and what APRA in particular asked all the lenders then to do was \u201cHere are six scenarios. Send us in your lending calculators.\u201d What they were able to ascertain was there was a massive difference. There were hundreds and hundreds of thousands, and you\u2019ve heard me speak, Kevin, about getting to the right lenders first and things like that in the past.<br \/>\nAPRA came out a bit more than a year ago, probably the start of 2016 or late 2015 and said on the record, \u201cWe don\u2019t want lenders to compete on servicing calculators. They should be competing on product and price.\u201d A little bit anticompetitive because some of the niche players can\u2019t compete with the big banks, but they\u2019ve come out and said that.<br \/>\nSo what they did was a lot of those niche lenders and the ones that were investment-friendly used to factor in and service debts on actual debts. Now, they\u2019re all made to service over the balance of the remaining term.<br \/>\nSo, if you take a 30-year loan with 5 years interest-only, you have to service it at 25 years, so it\u2019s actually now a shorter term, and then they buffer up the interest rate, of course, so work on and better average rate of 7.5%. If you can\u2019t afford to pay your loan off over 25 years at that rate, now the lending is restricted.<b><\/b><br \/>\nThat\u2019s probably been one of the biggest things, and that really affects our larger portfolios. If you start putting principal and interest across some significant portfolios, that have a real impact.<br \/>\n<b>Kevin:<\/b>\u00a0 Just on that point, Andrew. That buffer that you\u2019re talking about there, is that easy to find out? If I\u2019m doing a calculation as to how much I should go to the bank for, that buffer that I will need to allow for, how do I find out what that is, and does it vary?<br \/>\n<b>Andrew:<\/b>\u00a0 No. That\u2019s something that, again, I guess we know as brokers and bankers know, because a bank will know their own one. Brokers, we all know what they are because we have access to those tools. But the mom-and-dad client \u2013 and we\u2019ve been seeing this a lot in the last 12 months \u2013 they just can\u2019t understand why they can\u2019t get money when it\u2019s not really costing anything, because we have record low interest rates. If you have some debit at interest-only, largely your rent and costs and everything are a paying for the loan.<br \/>\nWhen we have to deliver the news that sorry, we can\u2019t get you another loan, clients look at us quite puzzled, saying, \u201cHang on, it\u2019s not costing me anything.\u201d When we take them through the calculations and explain that it\u2019s anywhere between 7.25% up to 8% the banks are servicing at, so almost double your actual interest rate, over a shorter term, and now there are some other restrictions around your income source and things like that, it has quite a significant impact in such a short period of time.<br \/>\n<b>Kevin:<\/b>\u00a0\u00a0 Andrew, let me take you back a little bit. We talked at the start about those regulators and LVRs and the postcodes. Is it also determined by the style of property? In other words, are they getting very nervous about units in some of those postcodes?<br \/>\n<b>Andrew:<\/b>\u00a0 It\u2019s pretty well documented, I think, in a couple of our more popular cities, but even in Perth, we\u2019ve seen the downturn in Perth through the mining boom finishing and then the amount of development coming to fruition there. Melbourne and Brisbane, there\u2019s probably a whole lot of property coming to the market.<br \/>\nThere are a couple of other factors that probably affect that. That\u2019s our overseas and non-resident buyers who have gone to the Foreign Investment Review Board, been approved to buy a property here but now just by virtue of finding some errors in probably the way that the Australian lenders would look at the way they need to prove their income versus some of the overseas borrowers not being able to meet those criteria and some of the measures that were being taken to meet that.<br \/>\nThose are now being restricted, so that probably means that some of them won\u2019t be able to complete the purchase when the units come to fruition, and that\u2019s going then also have an impact on the rest of the markets because where there\u2019s a ripple, a wave appears.<br \/>\n<b>Kevin:<\/b>\u00a0 Andrew, we\u2019re out of time but it\u2019s great talking to you, mate. Thank you. And obviously, there\u2019re a lot of levers there that get pulled that will change how lenders lend to both investors and to owner-occupiers. It\u2019s a fascinating conversation.<br \/>\nAndrew, thanks for taking us into so much detail there. I appreciate your time.<br \/>\n<b>Andrew:<\/b>\u00a0 Our pleasure, Kevin. I still think there\u2019s a little bit more to come through 2017, so it should be interesting.<br \/>\n<b>Kevin:<\/b>\u00a0 All right. Interesting. We\u2019ll touch base with you in the weeks and months ahead, just to keep an eye on that. Andrew Mirams has been my guest. Andrew, of course, from Intuitive Finance, and you can see a lot of additional posts on our website as well \u2013 RealEstateTalk.com.au \u2013 from Andrew and Intuitive Finance.<br \/>\nAndrew, once again, thanks for your time.<br \/>\n<b>Andrew:<\/b>\u00a0 Pleasure, Kevin. Thanks.<br \/>\n&nbsp;<\/p>\n<h2>Property investing fear busters &#8211; <a href=\"http:\/\/realestatetalk.com.au\/featured-channel\/michael-yardney\/\">Michael Yardney<\/a><\/h2>\n<p><b>Kevin:<\/b>\u00a0 There\u2019s no doubt about it. Property certainly is a brilliant asset class for creating wealth. That\u2019s what this show is all about, of course. We talk to successful investors. I often wonder why more people aren\u2019t doing it. Maybe they\u2019re sitting back and waiting for the market to change or to improve.<br \/>\nIf you\u2019re sitting there listening to this now and maybe you\u2019re wondering why you\u2019re not in the market at this stage and what are the things that are holding you back, Michael Yardney joins me to discuss this point.<br \/>\nGood day, Michael. It\u2019s a frustrating question I know I\u2019ve asked you on many occasions: if it\u2019s so good \u2013 and we know it is \u2013 why aren\u2019t more people doing it?<br \/>\n<b>Michael:<\/b>\u00a0 I guess it\u2019s because they are scared. In general, I think the fear falls into a couple of categories: making a mistake and losing money, or some of them actually just believe that they don\u2019t have the know-how or the knowledge to do it successfully.<br \/>\nPersonally I\u2019d be more afraid to end up relying on my savings or superannuation or the government to look after me for my financial future in my golden years, Kevin.<br \/>\n<b>Kevin:<\/b>\u00a0 Michael, give me a bit more detail about some of these fears.<br \/>\n<b>Michael:\u00a0\u00a0<\/b>I think currently at the stage of the market where the markets are more mature, some people are concerned \u201cWhat if my property doesn\u2019t go up in value? What if the cycle turns? What if my property goes down in value?\u201d I think it\u2019s important to understand that it will. At some stage the market will slow down and all properties \u2013 even good investment-grade properties \u2013 will track down a little but.<br \/>\nYesterday, I actually discussed this with a client, Kevin. I said to him, \u201cYou\u2019re right. The Sydney market is very strong and it\u2019s quite possible your property is going to drop. It could be 5% or 6%. Imagine if it drops 10%. We\u2019re only back to where it was last June.\u201d<br \/>\nIt\u2019s not going to happen overnight, and good quality properties where the markets are deep and where there are lots of people buying, selling, moving house, moving up, they don\u2019t drop much in value at all.<br \/>\nThat\u2019s just the way the market works. Don\u2019t be scared of it, Kevin.<br \/>\n<b>Kevin:<\/b>\u00a0 Analysis paralysis is another one, too, Michael. We can spend a lot of time educating ourselves, analyzing the market, and waiting for it to be right. Do you see that as a bit of a problem?<br \/>\n<b>Michael<\/b>:\u00a0 It is a fear, Kevin, because people fear they don\u2019t have enough knowledge, and the answer is you never will. In fact, the beginning investor who thinks he knows it all is probably more dangerous to himself than the person who recognizes that they need to know more.<br \/>\nBut there\u2019s a happy medium there, so I think it\u2019s important to get going knowing that you don\u2019t know it all but having some good people around you who can help you with the bits of information you don\u2019t know.<br \/>\n<b>Kevin:<\/b>\u00a0 Michael, another thing \u2013 and this happened to me \u2013 was some of the advice that I was getting from other people, especially as you incur more debt. Well-meaning people \u2013like parents and brothers and sisters \u2013 say, \u201cWow, do you really know what you\u2019re doing? This is a lot of debt that you\u2019re taking on here.\u201d<br \/>\n<b>Michael:<\/b>\u00a0 Kevin, the fear of debt has been one of the biggest things that\u2019s stopped people getting involved in property investment. I know in all my seminars I say, \u201cHands up anyone who\u2019s scared of debt,\u201d and most people giggle a bit but don\u2019t put their hands up. Then I say, \u201cHands up somebody who knows somebody who\u2019s scared of debt,\u201d and they all put their hands up and have a bigger giggle, because we know that that\u2019s one of the common things that holds us back.<br \/>\nThe question is what sort of debt? You can have good debt, which is against appreciating assets. You can have necessary debt, which is non-tax-deductible debt but debt against your home. And you can have bad debt, which is debt against depreciating assets \u2013 doodads, toys, things that go down in value. But good debt against appreciating assets in my mind isn\u2019t a risk at all.<br \/>\n<b>Kevin:<\/b>\u00a0 Michael, I can hear many people saying, \u201cYou make it sound so easy, but gee, there are a lot of ongoing costs involved in property investment, as well.\u201d This could be one of the reasons that holds a lot of people back as well, Michael.<br \/>\n<b>Michael:<\/b>\u00a0 Yes it is. You\u2019re right, Kevin. It\u2019s nice having the rent come in but you have all of the outgoings \u2013 the insurance, the maintenance, the strata fees, vacancies. And that\u2019s what scares people a lot: the vacancies. \u201cWhat if the rent doesn\u2019t come in?\u201d<br \/>\nThese can all be handled, though, by a sensible financial structure, by having an offset account or a financial buffer, and a good mortgage broker can help you with this to make sure that you don\u2019t overcommit yourself.<br \/>\nYes, it\u2019s important to recognize it, but once you do, you can then work within your financial parameters so that you don\u2019t overcommit, Kevin.<br \/>\n<b>Kevin:<\/b>\u00a0 Michael, let me ask you a question just in closing out \u2013 and this comes from left field without notice. That is, what about the skill that you need to become a landlord? What have you found in going from sometimes being a tenant to being a landlord? Is it a mindset shift?<br \/>\n<b>Michael:<\/b>\u00a0 Many people are not made out to be landlords, Kevin. In fact, most successful property investors know how to do it. Those who fail are the ones who get too emotional about it. First of all, some try to be cheap and do it themselves, and they get themselves into trouble. You shouldn\u2019t be dealing with tenants. You should have a property manager to protect you.<br \/>\nBut the other thing is expect that you have to have repairs, expect that the hot water service is going to blow, don\u2019t be disappointed when the tenant moves out. Don\u2019t take it personally. It\u2019s just a business.<br \/>\nGet a good professional there to protect you, having a good property manager. Just understand that there always will be outgoings and don\u2019t get emotionally involved in the little ups and downs of being a landlord.<br \/>\n<b>Kevin:<\/b>\u00a0 The other thing, too, Michael, I find is you have to delegate to your property manager. You have to give them the opportunity to manage it for you if they\u2019re good. But you cannot abdicate. You still have to be involved to a certain extent. As you said, you have to be prepared for some of those things that are going to happen.<br \/>\n<b>Michael:<\/b>\u00a0 Yes, you do. Interestingly, this week, I had a discussion with somebody who was upset because they have to carpet and repaint their property and they hadn\u2019t got the money for it at the moment. I said to them, \u201cBut remember when we first set you up, we actually got you a financial buffer. How much is in there?\u201d And he said, \u201cI have $60,000.\u201d<br \/>\nI said, \u201cThat\u2019s exactly what this is for, John. Don\u2019t be upset that it\u2019s going to cost you $6000 to do this, because every five to seven years, you\u2019re going to have to put in new carpet, and every ten years, you are going to have to repaint it. It\u2019s just the cost of doing business.\u201d<br \/>\nAnd because he had the money there \u2013 which he didn\u2019t want to touch, but that\u2019s what it was there for \u2013 he\u2019s okay now. He\u2019ll get a good tenant because he\u2019s got a well-presented property, and life moves on.<br \/>\n<b>Kevin:<\/b>\u00a0 Good talking to you. Michael Yardney from Metropole Property Strategists.<br \/>\nThanks, Michael.<br \/>\n<b>Michael:<\/b>\u00a0 My pleasure, Kevin.<br \/>\n&nbsp;<\/p>\n<h2>Not all smooth sailing &#8211; Cameron Kusher (Core logic)<\/h2>\n<p><b>Kevin:<\/b>\u00a0 The monthly CoreLogic Home Value Index reported a further rise in the value of capital city dwellings in February, with values rising 1.4% over the month, with Sydney continuing as the overall capital gains leader. Joining me to talk about the report and what\u2019s happening in the property market around Australia, Cameron Kusher from CoreLogic.<br \/>\nCameron, thanks for your time.<br \/>\n<b>Cameron:<\/b>\u00a0 Thanks, Kevin.<br \/>\n<b>Kevin:\u00a0<\/b>\u00a0Sydney, how it continues to grow, is that a surprise to you, or did you expect this?<br \/>\n<b>Cameron:<\/b>\u00a0 Probably didn\u2019t expect it to accelerate to the magnitude we\u2019ve seen, but we did expect that with really low interest rates and obviously the investor segment of the market coming back, you\u2019d continue to see growth. But over the last year values are up 18.4%, which is the fastest annual rate of growth for Sydney since the end of 2002.<br \/>\nYou can obviously see why people are a little bit concerned with this, given that this grown phase is more than four and a half years old and we\u2019re now getting the highest level of growth we\u2019ve seen in more than a decade.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes. I think it\u2019s been something like how many continuous months \u2013 like 58 months or something \u2013 we\u2019ve had this growth?<br \/>\n<b>Cameron:<\/b>\u00a0 It has been. The growth phase has been running for 58 months and we\u2019ve seen values rise significantly, and even if we go back a little bit further than that from the previous growth phase \u2013 which started in the end of 2008 \u2013 to now, values in Sydney are up about 105%.<br \/>\n<b>Kevin:\u00a0<\/b>\u00a0The legislators, of course, and politicians are really rubbing their hands together \u2013 well, not so much rubbing their hands together in glee but in worry saying, \u201cHow can we slow this down?\u201d What are some of the triggers that they could pull to pull it back a bit, Cameron?<br \/>\n<b>Cameron:<\/b>\u00a0 If we look at what was happening 12 months ago, the market in Sydney and Melbourne was actually slowing, and what we were seeing at that time was that they were cracking down on the investor lending. APRA had brought in the 10% cap of credit growth annually, and that was slowing things down, but we also had interest rates 50 basis points higher than they are at the moment.<br \/>\nGiven the experience 12 months ago, I\u2019d say that they\u2019re probably the two main areas to really target. Higher interest rates, now, the Reserve Bank said that they don\u2019t necessarily want to lift interest rates and they\u2019d maybe even put them lower if it wasn\u2019t for the Sydney and Melbourne housing markets. But also more focus on the investor market and slowing the level of demand there. The 10% cap, maybe it needs to be lowered to 6% or 7% to try to slow this thing even further.<br \/>\n<b>Kevin:<\/b>\u00a0 It\u2019s great for homeowners but it\u2019s a great challenge for prospective buyers, isn\u2019t it? The affordability of getting into the markets, particularly in Sydney and Melbourne?<br \/>\n<b>Cameron:<\/b>\u00a0 It is. And the challenge is not servicing the debt for most people, because you have the lowest interest rates we\u2019ve seen in generations, so once you can actually get into the home, the servicing of the mortgage \u2013 at least at the moment \u2013 is relatively easy. The challenge is saving up a big enough deposit to actually enter into the housing market.<br \/>\nIf you look at Sydney at the moment, the median dwelling price \u2013 and that\u2019s the combined houses and units \u2013 is $795,000, so a 10% deposit is $80,000. You have wages growing at the lowest level on record, so it\u2019s difficult to see how people can actually save up a big enough deposit and keep chasing the market at the moment to enter in if they don\u2019t already own.<br \/>\n<b>Kevin:<\/b>\u00a0 We talk about a booming market around Australia, but there are different markets, aren\u2019t there? You look at Perth and Darwin, where it\u2019s been particularly slow. In fact, I think according to your report, they actually slipped back in that quarter, did they?<br \/>\n<b>Cameron:<\/b>\u00a0 They have. Perth values fell 0.9% over the last three months, Darwin down 6%, and they\u2019re both down at least 10% from where they were at their previous peaks. While Sydney and Melbourne are booming, Perth and Darwin are really struggling.<br \/>\nThen if we look at the other cities, Brisbane and Adelaide, you\u2019re continuing to see just fairly moderate rates of growth, and there\u2019s definitely been an acceleration in growth over the last 12 to 18 months in both Hobart and Canberra.<br \/>\n<b>Kevin:<\/b>\u00a0 We\u2019ve had growth over the last 58 months, as you pointed out. What\u2019s the growth been in real terms, say, in the Sydney market in that period? Have you have any figures on that?<br \/>\n<b>Cameron:<\/b>\u00a0 In terms of the real growth, we only calculate that each quarter in terms of inflation-adjusted growth, but if you look from when this growth phase started, the values are up about 75% in Sydney. If you adjust for inflation, they\u2019re probably up around 55%. In Melbourne, they\u2019ve increased by about 47% or 48% over the same period of time.<br \/>\nIt really is all about Sydney and Melbourne, at the moment, in terms of the growth we\u2019re seeing, and all the other capital cities have lagged significantly behind.<br \/>\n<b>Kevin:\u00a0<\/b>\u00a0I want to talk to you about stock levels in just a moment. Before I do, can I just swing the attention to the rental market because that\u2019s obviously a double-edged sword, isn\u2019t it? When we talk about affordability of getting into a house, but we also have to make rentals affordable, too. What have the rental returns been like in Sydney and Melbourne with these rapid price increases?<br \/>\n<b>Cameron:<\/b>\u00a0 They\u2019re historically low. Obviously, you go around Sydney, go around Melbourne, go around Brisbane and see all the new apartment stock coming online. Most of that is ultimately going to end up as rental accommodation. At the moment, the rental yields in Sydney for a house is at 2.8% \u2013 that\u2019s a gross figure \u2013 3.7% for units, and in Melbourne, it\u2019s 2.7% for houses, 4% for units.<br \/>\nThey\u2019re gross figures, so the net figure is actually going to be significantly lower than that, and increasingly the challenge at the moment is also to ensure that your property is actually occupied for 52 weeks of the year with so much more stock coming online.<br \/>\n<b>Kevin:<\/b>\u00a0 We\u2019re seeing great results from auctions around Australia, too, and rapid selling times. What about stock on market? What\u2019s happening with that?<br \/>\n<b>Cameron:<\/b>\u00a0 It\u2019s quite low, and this is another driving factor of what\u2019s happening in Sydney and Melbourne. We calculate our listings on a 28-day basis each week. At the end of last week, in Sydney, there were about 21,000 properties for sale, which is 11.3% lower than it was 12 months ago, and that was already fairly low 12 months ago. In Melbourne, you have about 28,500 properties for sale, so more than Sydney, but the amount of stock for sale is 5% lower than it was 12 months ago.<br \/>\nYou have this combination of low cost of borrowing, strong population growth in Sydney and Melbourne, a very rampant investment market at the moment, and you have little stock to choose from, so people are making bids over and above the asking price at auctions or the listed price for private treaty sales and pushing values higher just because they need to get into the market because there\u2019s very little stock out there.<br \/>\n<b>Kevin:<\/b>\u00a0 How much of an influence is FOMO or fear of missing out? How much of a factor is that in the market currently, Cameron?<br \/>\n<b>Cameron:<\/b>\u00a0 I certainly think it\u2019s a big factor at the moment. I think people figure if they don\u2019t get into the market now, it takes them 6 to 12 months to actually find the property they want. They\u2019re going to have missed out on all that growth and they\u2019re also going to have to find all that extra money.<br \/>\nThe way I like to think of it is this: the common wisdom in real estate is you sell and then you buy a property, but if you sell now and it takes you 12 months to find your next property, in Sydney, if you did that 12 months ago, you\u2019ve missed out on 18% growth and you have to make that up somewhere. So I really do think there is a bit of a case of fear of missing out going on at the moment.<br \/>\n<b>Kevin:<\/b>\u00a0 What\u2019s your view going forward for the rest of the year? What do you think growth is going to be like, Cameron?<br \/>\n<b>Cameron:<\/b>\u00a0 Look, I think there\u2019s still going to be growth. I do think that there\u2019s just going to be too much pressure on the regulator to find more ways to slow this rate of growth in Sydney and Melbourne. So we do believe that over the second half of this year the rate of growth is going to slow, but it\u2019s going to be because APRA gets in and makes some changes to the housing market and lending policies rather than just a natural slowdown in the market.<br \/>\n<b>Kevin:<\/b>\u00a0 Always good talking to you, Cameron Kusher from CoreLogic. Thanks for your time, Cameron.<br \/>\n<b>Cameron:<\/b>\u00a0 Thanks, Kevin.<br \/>\n&nbsp;<\/p>\n<h2>Don&#8217;t fall foul of FOMO &#8211; Rich Harvey<\/h2>\n<p><b>Kevin:<\/b>\u00a0Rich Harvey, is on the line. Good morning, Rich. How are you?<br \/>\n<b>Rich:<\/b>\u00a0 A very good morning, Kevin<br \/>\n<b>Kevin:<\/b>\u00a0 Interested to read during the week that you\u2019ve put a warning out to buyers about making sure they don\u2019t become wounded bull bidders. What do you mean by that?<br \/>\n<b>Rich:\u00a0\u00a0<\/b>Indeed. We see a lot of frustrated buyers going to auction, particularly in the Sydney and the Melbourne markets, which have a larger percentage of auctions. We see buyers might have gone to five or ten auctions, they\u2019ve missed out, and they walk into that next auction and then they end up paying over the odds for that property without regard to the true market value.<br \/>\nIt\u2019s like they use the bidding card as a fan. They just can\u2019t stop raising it up the top, and they end up just paying way too much for the property.\u00a0 It\u2019s just another word for a frustrated buyer. We see it all the time. There are a couple of different demographics, but often you\u2019ll see younger families and they\u2019re dragging the kids around and particularly the last couple of weekends, there have been heat wave conditions, and people just get over it. But they end up paying anywhere from $100,000 to $500,000 more than they need to on a property just to get into the market. It\u2019s quite dangerous territory for some people.<br \/>\n<b>Kevin:<\/b>\u00a0 Rich, to go one step further, let\u2019s have a look at Melbourne today. There are 1400 auctions.\u00a0 Assuming that there are probably two, maybe even three, bidders at each auction, we\u2019re talking about thousands of people who are going to walk away unsatisfied after today. That feeds that fear of loss and that feeds that frenzy, doesn\u2019t it, to go out and buy something?<br \/>\n<b>Rich:<\/b>\u00a0 Actually Dr. Andrew Wilson sent me some figures on the weekend and also CoreLogic gave me some great numbers. I asked them, \u201cWhat\u2019s the percentage of properties going to auction versus private treaty?\u201d In Sydney, around 23% of listings went to auction last year and 77% were private treaty. In Melbourne, it was around 30% auction and 70%<b>\u00a0<\/b>private treaty. And in Brisbane, it was around 6% auctions and 94% private treaty.<br \/>\nPeople shouldn\u2019t have a fear of missing out at auction. There are other properties available for them. They just have to be patient and hang on.<br \/>\nI think a lot of the public aren\u2019t aware that there\u2019s a hidden property market. I think particularly what we as buyer\u2019s agents promote as one of our key benefits for our services is getting access to that off-market property. And there are quite a few of them. We\u2019re finding, particularly in the higher price ranges, there\u2019s a disproportionate percentage of off-markets available, and it\u2019s a really great market you can tap into to get a property.<br \/>\n<b>Kevin:<\/b>\u00a0 How do you do that as a buyer\u2019s agent? How do you tap into it? How could the consumer do it?<br \/>\n<b>Rich:<\/b>\u00a0 It\u2019s harder for the consumer to do it. It\u2019s easier for us as buyer\u2019s agents. We just have a really extensive network and a really good relationship with agents. We bring a qualified buyer to the table, we get advance notice. Because we\u2019re in the industry, we know what\u2019s going on.<br \/>\nWe don\u2019t collude or do anything at all unsavory. It\u2019s very much a straight professional relationship. It\u2019s simply relationship building and it\u2019s time spent. If you spend a lot of time doing something, you get very good at it.<br \/>\nSo as buyer\u2019s agents, we have a lot of access to properties that people wouldn\u2019t otherwise find.<br \/>\n<b>Kevin:<\/b>\u00a0 What would be your suggestion, Rich, to people who may have chosen an area \u2013 should they be then cultivating that relationship with the agents in that area?<br \/>\n<b>Rich:<\/b>\u00a0 Correct. That\u2019s right. It\u2019s just a matter of maintaining those relationships. You have to be the squeaky wheel that gets the oil there and gets noticed in those areas. That\u2019s the key.<br \/>\n<b>Kevin:<\/b>\u00a0 Are you going to many auctions? Are you bidding today?<br \/>\n<b>Rich:<\/b>\u00a0 We had one we were going to be doing today but it got sold prior, unfortunately. We have another two this afternoon. So fingers crossed, we\u2019ll try and get those two today.<br \/>\n<b>Kevin:<\/b>\u00a0 Did it sell to your client?<br \/>\n<b>Rich:<\/b>\u00a0 No.\u00a0 It went over their limit, unfortunately. You just have to know when to walk away.<br \/>\n<b>Kevin:<\/b>\u00a0 That\u2019s a good point. You obviously worked with your buyer and you set a limit. You don\u2019t need to tell us the property, but can you give us some comparative figures?<br \/>\n<b>Rich:<\/b>\u00a0 It was a one-bedroom in Randwick. I believe it sold for around $780,000, where we were willing to go to about $760,000. We were close but we\u2019re not that close. Also the client just had a limit, unfortunately. The property is probably actually worth that, but some of these clients just have a budget and they just can\u2019t go over that.<br \/>\n<b>Kevin:<\/b>\u00a0 It\u2019s worth it because someone paid for it. That defines its worth, doesn\u2019t it really?<br \/>\n<b>Rich:<\/b>\u00a0 That\u2019s right.<br \/>\n<b>Kevin:<\/b>\u00a0 Were your clients restricted on finance, or were they investors?<br \/>\n<b>Rich:<\/b>\u00a0 They\u2019re investors.<br \/>\n<b>Kevin:<\/b>\u00a0 So they had a very hard view on what it was worth.<br \/>\n<b>Rich:<\/b>\u00a0 That\u2019s right. Exactly. Yes.<br \/>\n<b>Kevin:<\/b>\u00a0 Do you find generally, Rich, that investors take a much harder line at that because they look at it as a business as opposed to someone who\u2019s going to become emotionally involved in buying a home?<br \/>\n<b>Rich:<\/b>\u00a0 Absolutely. With investors it\u2019s all about the return on investment and the yield and the growth factor you\u2019re going to get, so you have to buy well. For the home buyers, it can be more emotional. It doesn\u2019t mean there\u2019s any less attention given to it. But for the home buyers, they can ride out the cycle stuff a little bit more, so there can be a little more of a flexible factor in the price that they pay.<br \/>\n<b>Kevin:<\/b>\u00a0 Thanks, Rich. Great talking to you, mate. Thank you.<br \/>\n<b>Rich:<\/b>\u00a0 Thank you.<br \/>\n<b>Kevin:<\/b>\u00a0 Rich Harvey is the president of the Real Estate Buyers Association of Australia.<br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlights from this week: Why more people don\u2019t invest in property. The real impact on investors from tighter lending policies. \u201cMore growth is on the way\u201d \u2013 Core Logic. Why it is not all plain sailing in the Aussie property market. Technology has changed how&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":10769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[10,11,13,24],"tags":[70,101],"class_list":["post-10767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-shows","tag-featured","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Property investing fear busters + Don\u2019t fall foul of FOMO + Not all property markets going well - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property investing fear busters + Don\u2019t fall foul of FOMO + Not all property markets going well - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Highlights from this week: Why more people don\u2019t invest in property. The real impact on investors from tighter lending policies. \u201cMore growth is on the way\u201d \u2013 Core Logic. Why it is not all plain sailing in the Aussie property market. Technology has changed how...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-16T20:00:02+00:00\" \/>\n<meta name=\"author\" content=\"rolanrush\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rolanrush\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"38 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"Property investing fear busters + Don\u2019t fall foul of FOMO + Not all property markets going well\",\"datePublished\":\"2017-03-16T20:00:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/\"},\"wordCount\":7588,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"Featured\",\"podcast\"],\"articleSection\":[\"Kevin Turner\",\"Kevin's Update\",\"Latest Stories\",\"Shows\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/\",\"name\":\"Property investing fear busters + Don\u2019t fall foul of FOMO + Not all property markets going well - Realty Talk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2017-03-16T20:00:02+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/property-investing-fear-busters-dont-fall-foul-of-fomo-not-all-property-markets-going-well\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Property investing fear busters + Don\u2019t fall foul of FOMO + Not all property markets going well\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\",\"name\":\"Realty Talk\",\"description\":\"Your Trusted Voice For Property Investing. 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