{"id":6794,"date":"2016-01-21T01:00:25","date_gmt":"2016-01-20T14:00:25","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=6794"},"modified":"2016-01-21T01:00:25","modified_gmt":"2016-01-20T14:00:25","slug":"chris-gray-australian-property-market-2016","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/chris-gray-australian-property-market-2016\/","title":{"rendered":"Chris Gray – Australian Property Market 2016"},"content":{"rendered":"

 
\nOur guest today:\u00a0 Chris Gray<\/strong> from YourEmpire.com.au.
\n <\/p>\n

Transcript:<\/h4>\n

Kevin<\/b>:\u00a0 We take the opinion in the show of yet another one of our experts, Chris Gray from YourEmpire.com.au.
\nChris, your take on the 2016 market \u2013 where do you think it\u2019s headed this year?
\nChris<\/b>:\u00a0 Look, it obviously depends on where you are. There are lots of different property markets around Australia. But I think if you\u2019re in the main markets of the Sydney, Melbourne, and Brisbane, then I think a lot of people are going to look back and say, \u201cThat was another great year. We maybe made 5% or 10% capital growth over the time, and so, yes, we should be pretty happy.\u201d
\nKevin<\/b>:\u00a0 That was going to be my question. What do you think we\u2019ll be saying about the market this time next year? You think we\u2019re in for probably not a stellar year, but certainly a year when we\u2019re not going to lose a lot of money?
\nChris<\/b>:\u00a0 Again, it really does depend on what market you\u2019re in. I quite often look at the SQM research by Louis Christopher and his results. He was certainly predicting some pretty good property results for Sydney, Melbourne, and Brisbane. Obviously, some of the other markets \u2013 like Perth and Darwin \u2013 are not as great.
\nBut I think it\u2019s possible to make money in pretty much any market. Even if you\u2019re in those markets that aren\u2019t predicted to do wonderful things, then there are still opportunities there.
\nKevin<\/b>:\u00a0 What were the surprises for you in 2015? Were there any?
\nChris<\/b>:\u00a0 The biggest thing for me was probably APRA. For those people trying to get a mortgage, APRA came in, and they were worried about trying to cool the market and not get a boom going certainly in the Sydney market, so they put a lot of restrictions on people.
\nSome people, it didn\u2019t affect at all. But other people, including myself, it did affect temporarily. That was the biggest thing. If you were just about to refinance, whether you did it one week or the other, could have made a massive difference.
\nKevin<\/b>:\u00a0 Of course, the markets that would have been probably most affected by that were the off-the-plan markets, as well, where people may have gotten approval to purchase and then found that the bank\u2019s attitude toward lending the money had changed not long before settlement.
\nChris<\/b>:\u00a0 It\u2019s the thing most people still haven\u2019t realized yet. A lot of people were talking about the Brisbane market and the thousands of apartments that have been sold off the plan, but those people may not realize they\u2019ve got a problem for another 6, 12, or even 18 months, depending on how long it goes on.
\nKevin<\/b>:\u00a0 Yes. They should be checking with their bank now, I would have thought.
\nChris<\/b>:\u00a0 Exactly. One thing I always say with the off the plan properties is get a valuation now. If you\u2019re going to settle in 6 to 12 months, rather than have an issue at that time, just before you try and settle it, get a valuation now or from the local agent or even the developers because if you\u2019re not going to get that property valuing up as to what you wanted, you\u2019ve now got 6 to 12 months to try to fix the problem.
\nKevin<\/b>:\u00a0 What are the markets you\u2019re going to be watching in 2016, Chris?
\nChris<\/b>:\u00a0 I\u2019m very consistent with mine. My plan doesn\u2019t change from year to year. It sounds very boring. It\u2019s not news-worthy, but it\u2019s just consistent. I\u2019m going to carry on investing in the Sydney market. I still think if you\u2019re into Melbourne or Brisbane, you need a cheaper market, and then I think there\u2019s plenty of opportunity there.
\nI basically just keep refinancing every year. I pull my money out. I keep some as a buffer. I reinvest some. Literally, as they call in shares of dollar cost averaging, I just try and buy consistently from year to year.
\nKevin<\/b>:\u00a0 What are the market indicators you look at before you\u2019ll invest in a property?
\nChris<\/b>:\u00a0 Most of mine is consumer confidence. Sure, you have interest rates, you have clearance rates. But even the experts at Residex, RP Data, and SQM, it\u2019s all in the interpretation. I even had the head of News Limited for advertising saying, \u201cOh, Chris, the clearance rate is coming down. You must be happy.\u201d
\nI said no, because two-bedroom units in Coogee, Bondi, and Clovelly are at 100% clearance rates all the time. When the clearance rate comes down, it\u2019s all the properties that are on the wrong side of the street or without parking, which are the ones that sold in the good times but aren\u2019t selling now. Clearance rate doesn\u2019t really affect me in all honesty.
\nI worry about are people still confident? Are they still thinking long term that property is the way to go? But to be honest, I don\u2019t really care about that either. I\u2019d still just continue to buy. If you by the right property at the right price, whether it\u2019s GFC or boom, it\u2019s still a good time to buy.
\nKevin<\/b>:\u00a0 Chris Gray, thank you so much for your time. All the best for the New Year, Chris, and we\u2019ll look forward to talking to you during 2016. Thanks, mate.
\nChris<\/b>:\u00a0 Great. Thanks a lot.<\/p>\n","protected":false},"excerpt":{"rendered":"

  Our guest today:\u00a0 Chris Gray from YourEmpire.com.au.   Transcript: Kevin:\u00a0 We take the opinion in the show of yet another one of our experts, Chris Gray from YourEmpire.com.au. Chris, your take on the 2016 market \u2013 where do you think it\u2019s headed this year?…<\/p>\n","protected":false},"author":176692471,"featured_media":6795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,11,13,17,25,27],"tags":[101],"class_list":["post-6794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment","category-sponsored-channels","category-trends-topic","tag-podcast"],"yoast_head":"\nChris Gray - Australian Property Market 2016 - 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\/chris-gray-australian-property-market-2016\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chris Gray - Australian Property Market 2016 - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  Our guest today:\u00a0 Chris Gray from YourEmpire.com.au.   Transcript: Kevin:\u00a0 We take the opinion in the show of yet another one of our experts, Chris Gray from YourEmpire.com.au. 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