{"id":20836,"date":"2018-04-11T01:00:35","date_gmt":"2018-04-10T15:00:35","guid":{"rendered":"https:\/\/realestatetalk.com.au\/?p=20836"},"modified":"2018-04-11T01:00:35","modified_gmt":"2018-04-10T15:00:35","slug":"sydney-prices-not-so-hot-peter-koulizos","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/sydney-prices-not-so-hot-peter-koulizos\/","title":{"rendered":"Sydney prices not so hot \u2013 Peter Koulizos"},"content":{"rendered":"

Less than four per cent of property investment experts believe Sydney offers solid prospects in 2018, according to a new survey by the Property Investment Professionals of Australia.\u00a0 Peter Koulizos<\/strong> from PIPA reveals where the smart money is going this year.
\nTranscript:<\/strong>
\nKevin:\u00a0\u00a0<\/strong>Less than 4% of property investment experts believe that Sydney offers solid prospects for 2018. That\u2019s according to a new survey. The Property Investment Professionals of Australia \u2013 better known as PIPA \u2013\u00a0 their 2018 member survey found that that was the result. Joining me to talk about that is the man who heads up PIPA, Peter Koulizos.
\nPeter, were you surprised by that?
\nPeter:\u00a0\u00a0<\/strong>I found it very interesting, Kevin, because most of our members who replied to the survey are from Sydney, so they have probably experienced first-hand the huge increase in property prices that Sydney has had and then the subsequent drop in rental yields, and they just feel that Sydney is probably over-priced at the minute and there are better prospects further afield.
\nKevin:\u00a0\u00a0<\/strong>We will look at the areas where investors are likely to focus, Peter. But as you point out, rental yields are critical for investors, heavily influencing their decision.
\nKevin:\u00a0\u00a0<\/strong>Certainly, the rental yield is going to help pay the bills, and if you don\u2019t have a good rental yield, you\u2019re going to struggle to pay the interest component let alone council rates, water rates, repairs, and maintenance.
\nKevin:\u00a0\u00a0<\/strong>Correct me if I\u2019m wrong, I think it was some PIPA research that unearthed the fact that the Sydney property market really was only playing catchup for the last five years.
\nPeter:\u00a0\u00a0<\/strong>That\u2019s right, Kevin. Really, Sydney hasn\u2019t done much at all. In the last 15 years, it\u2019s been the worst performing capital city. But in the last five years, it\u2019s been the best performing capital city. As you said, it\u2019s just been playing catch-up, and it certainly has done that, because Sydney property prices have gone up much more in proportion to their rent. So, for investors, the yields are quite low.
\nKevin:\u00a0\u00a0<\/strong>Out of the survey, Peter, what did you find were the biggest concerns for property investors?
\nPeter:\u00a0\u00a0<\/strong>The professionals in the industry, their biggest concern was the tightening of lending criteria. APRA has had a very big influence on property and the lending of money for property, in particular for investors. Generally speaking, investors need a greater deposit than owner-occupiers, investors pay a higher interest rate than owner-occupiers, investors typically would be the ones who take out interest-only loans compared to owner-occupiers, and interest only loans have higher interest rates than owner-occupier loans.
\nSo, it\u2019s that arena that the professionals in the property investment industry are concerned about, because it\u2019s like using a huge sledgehammer to fix up a small problem that could be fixed up with a very delicate hammer, but it\u2019s just affected all property investors.
\nWhether you\u2019ve been investing in Sydney or not \u2013 which is where the main problem was according to APRA \u2013 it\u2019s just affected all investors all over the country.
\nKevin:\u00a0\u00a0<\/strong>As you say, it was a bit like taking a sledgehammer to bash in a pin.
\nPeter:\u00a0\u00a0<\/strong>That\u2019s right.
\nKevin:\u00a0\u00a0<\/strong>How do property investors feel about higher interest rates? Do they think they\u2019re on the horizon?
\nPeter:\u00a0\u00a0<\/strong>A number of property experts think that interest rates will increase this year. Even I don\u2019t think that they\u2019re going to go any further down, so the best they can do is stay where they are. But assuming the U.S. economy picks up \u2013 which it is \u2013 the global economy also picks up, which means the Australian economy will pick up, and interest rates will have to go up.
\nNot much \u2013 we\u2019re certainly not going back to the bad old days of late last century where they were double, digit, but we may see a 0.25% increase in interest rate rises by the end of the year.
\nKevin:\u00a0\u00a0<\/strong>Let\u2019s get back to where property investors are likely to spend their money. What did you find out? What do they believe are the prospects for 2018?
\nPeter:\u00a0\u00a0<\/strong>They think the best prospects for 2018 are the same as they were for 2017, which was Brisbane. Almost half of our members responded that Brisbane was the best place to invest in in 2018.
\nThat doesn\u2019t mean that if you invest this year, by the end of the year, you\u2019ll make a motser; that just means this is a good year to buy in Brisbane. And in the future, whether that\u2019s one, two or five years, you should do very, very well.
\nKevin:\u00a0\u00a0<\/strong>It\u2019s interesting, because I think in that research that I mentioned earlier from PIPA about the Sydney market, if you look around at the improvers over that 15-year period, which was the period of that study, I think the Brisbane market showed an improvement of about 160% \u2013 I\u2019m going from memory now \u2013 which I think was pretty much in line with the weighted average of the capital cities.
\nPeter:\u00a0\u00a0<\/strong>That\u2019s right. Over the last 15 years, Brisbane has performed very well, and I think one of the reasons our members think that Brisbane is going to do well in the future is because Brisbane needs to play catch-up, because Brisbane \u2013 like Adelaide \u2013 has virtually done nothing since the Global Financial Crisis, which is now almost ten years ago.
\nI think the catalyst for this interest in Brisbane is the inter-state migration, which typically happens at this time of the property cycle, which is when Sydney property prices are at their highest, the price difference between houses and Brisbane and Sydney is at its greatest.
\nSo, the people in Sydney or New South Wales who are 50, 55, or more and they\u2019re not living in their first home \u2013 so their home is typically above the median priced home; let\u2019s call it $1.5 million \u2013 they could buy a house in Brisbane or South East Queensland for about $500,000 or $600,000 and be left with a substantial amount of money, which if they can\u2019t retire on can certainly semi-retire on.
\nKevin:\u00a0\u00a0<\/strong>Or they could buy two, Peter, couldn\u2019t they?
\nPeter:\u00a0\u00a0<\/strong>That\u2019s right, two for the price of one. That\u2019s right, Kevin.
\nKevin:\u00a0\u00a0<\/strong>The point you made there about the Brisbane market and possibly having to play catch-up, I think that\u2019s one of the strengths of that Brisbane market is the fact that it\u2019s just a steady improver. There\u2019s nothing wrong with that kind of growth rate if it\u2019s over a consistent period of time.
\nPeter:\u00a0\u00a0<\/strong>Yes, that\u2019s a very safe way to go. Unlike Sydney investors \u2013 who would be very reticent to buy now because property prices are going backwards and who knows how long they\u2019re going to go backwards for \u2013 people in Brisbane are fairly confident that this time next year, their house will be worth more, and this time in two years\u2019 time, it\u2019ll be worth even more again. So, it\u2019s slow and steady as she goes in Brisbane.
\nKevin:\u00a0\u00a0<\/strong>That kind of growth rate does actually indicate that the property will double in value every eight to ten years.
\nPeter:\u00a0\u00a0<\/strong>That\u2019s correct.
\nKevin:\u00a0\u00a0<\/strong>So, I think if you\u2019re happy to be a steady investor, that\u2019s why the Brisbane market is so good.
\nPeter:\u00a0\u00a0<\/strong>Yes, that\u2019s right. It certainly provides a lot of reliability, and investors can sleep well at night, which is a very important factor for them to consider.
\nKevin:\u00a0\u00a0<\/strong>It\u2019s always good talking to you. Peter Koulitzos. Peter is from PIPA, the Property Investment Professionals of Australia. Thank you for your time, Peter.
\nPeter:\u00a0\u00a0<\/strong>Thank you, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

Less than four per cent of property investment experts believe Sydney offers solid prospects in 2018, according to a new survey by the Property Investment Professionals of Australia.\u00a0 Peter Koulizos from PIPA reveals where the smart money is going this year. Transcript: Kevin:\u00a0\u00a0Less than 4%…<\/p>\n","protected":false},"author":176692471,"featured_media":20869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,34,10,11,13,36,22,25],"tags":[101],"class_list":["post-20836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-property-topic","category-finance-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-research-topic","category-sponsored-channels","tag-podcast"],"yoast_head":"\nSydney prices not so hot \u2013 Peter Koulizos - 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\/sydney-prices-not-so-hot-peter-koulizos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sydney prices not so hot \u2013 Peter Koulizos - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Less than four per cent of property investment experts believe Sydney offers solid prospects in 2018, according to a new survey by the Property Investment Professionals of Australia.\u00a0 Peter Koulizos from PIPA reveals where the smart money is going this year. 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