{"id":6919,"date":"2016-02-03T01:00:38","date_gmt":"2016-02-02T14:00:38","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=6919"},"modified":"2016-02-03T01:00:38","modified_gmt":"2016-02-02T14:00:38","slug":"patrick-bright-australian-property-market-2016","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/","title":{"rendered":"Patrick Bright – Australian Property Market 2016"},"content":{"rendered":"

 
\nOur guest today:\u00a0Patrick Bright<\/strong>\u00a0from EPS Property Search and Property Management.
\n <\/p>\n

Transcript:<\/strong><\/h4>\n

Kevin<\/b>:\u00a0 Another one of our experts joining us to give us his impression of what the 2016 market is going to look like is Patrick Bright, who is a buyer\u2019s agent from EPS Property Search and Property Management. They are Sydney\u2019s number one buyer\u2019s agency.
\nCongratulations, Patrick.
\nPatrick<\/b>:\u00a0 Thanks, Kevin.
\nKevin<\/b>:\u00a0 Let\u2019s have a look at what your thoughts are for 2016. But before we do, let\u2019s have a look back at 2015. Any surprises in there for you?
\nPatrick<\/b>:\u00a0 Yes. I think I was a bit surprised at the level of growth that we\u2019ve had in Sydney for 2015 off the back of such a strong 2013 and 2014. Yes, I was a little surprised at the strength of the market that we ended up having.
\nKevin<\/b>:\u00a0 Were you able to ride that wave?
\nPatrick<\/b>:\u00a0 Absolutely. I\u2019ve been very happy, and our clients have been very happy. It\u2019s been a good three years.
\nKevin<\/b>:\u00a0 They were happy surprises, weren\u2019t they? Obviously, you got it right in Sydney. Were there any markets apart from Sydney that stand out for you, either as a disappointment or as a pleasant surprise?
\nPatrick<\/b>:\u00a0 From a disappointment point of view from 2015, the things that highlight it for me when that comes to mind is the fact that the New South Wales government had a chance to stamp out dummy bidding and underquoting, and all they\u2019ve done is formalize it with their new legislation that\u2019s coming in and just starting this month. The federal government\u2019s enquiry into foreign investment, too, was a bit disappointing. Those are probably the low lights. But otherwise, I thought the market was a good year.
\nKevin<\/b>:\u00a0 Yes. One does wonder about those rules with regards to bidding and underquoting and so on. There were some good case studies around Australia, particularly in Queensland, where the state government of New South Wales certainly could have gone that way, Patrick?
\nPatrick<\/b>:\u00a0 Exactly. I think what they\u2019ve done is that the rules that have just come into play essentially formalize underquoting. It\u2019s not going to get rid of dummy bidding. They\u2019re tinkering at the edges again.
\nKevin<\/b>:\u00a0 Well, back to the markets. What do you think we\u2019re going to be saying this time next year about the 2016 market?
\nPatrick<\/b>:\u00a0 Look, I\u2019m someone who is not as stressed or worried about what the individual intricacies of the market will do year to year. I\u2019m more of a buy-and-hold, long-term investor. If you stick with tried and tested fundamentals, you don\u2019t speculate, you look for properties that you can add value to cost effectively, you buy in land-locked areas, areas where people want to be, where population is growing \u2013 the old supply and demand factor \u2013 if you do that, you\u2019re going to be very happy over the medium and long term.
\nKevin<\/b>:\u00a0 What advice would you have for anyone who wants to start their portfolio? Basically, what you\u2019ve just said is pretty good advice. Anything you can add to that?
\nPatrick<\/b>:\u00a0 Yes. Markets to watch, things to watch out for for 2016 that always worry me: avoid anything that\u2019s written up as a hot spot, especially if it\u2019s in a property investment magazine or a newspaper. Any of these lists like \u201cthe top 100 properties coming up,\u201d avoid that. If you avoid that, you\u2019re actually going to be in front because most of those suburbs that are named underperform the average for those areas.
\nNow, I know that they do this because I check them from time to time and I\u2019ve had conversations with the editors and journalists who write these magazines. They\u2019ve told me that when they\u2019ve gone to revisit the lists from a few years ago, it\u2019s too embarrassing to publish the findings.
\nKevin<\/b>:\u00a0 It\u2019s unfortunate, Patrick, because that is, in fact, what a lot of people think they need to chase, and that is the next hot spot. It\u2019s almost like \u201cI just want the quick fix.\u201d
\nPatrick<\/b>:\u00a0 Yes, that\u2019s what people do. They know that they want the sugar hit. They want the above-average return. Unfortunately, they\u2019re not going to get it doing that. They\u2019re taking a speculative risk.
\nYou\u2019re better off buying and holding, sticking to investment fundamentals because we know that chasing these hot spots, they might be a hot spot now\u2026 The mining town is a great example. For about three or four years, they\u2019re written up as the best spot to be. All these so-called experts are saying, \u201cBuy here. Buy there.\u201d
\nBut a lot of these areas that were written up as recently as five years ago, two or three years on are actually halved in value, and they have 12%, or 14% vacancy. It\u2019s there. The examples are there, but you\u2019re not seeing them revisited.
\nLearn from history, people. Don\u2019t go and follow these hot spots. If it\u2019s being written up as a hot spot, it\u2019s too late. The smart money has been made. It\u2019s known in the industry that a lot of magazines and newspapers are advertorials and space is bought by big developers and marketing companies with something to sell.
\nYou just have to have that awareness. Don\u2019t trust everything that you see that\u2019s written up. Check it out. Test it.
\nKevin<\/b>:\u00a0 That\u2019s a great piece of advice, and we\u2019re going to leave it on that note. Patrick, I want to thank you.
\nI look forward to catching up with you again as the year 2016 progresses, and thanks again for your time, Patrick.
\nPatrick<\/b>:\u00a0 Pleasure as always, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

  Our guest today:\u00a0Patrick Bright\u00a0from EPS Property Search and Property Management.   Transcript: Kevin:\u00a0 Another one of our experts joining us to give us his impression of what the 2016 market is going to look like is Patrick Bright, who is a buyer\u2019s agent from…<\/p>\n","protected":false},"author":176692471,"featured_media":6921,"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-6919","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":"\nPatrick Bright - 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\/patrick-bright-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=\"Patrick Bright - Australian Property Market 2016 - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  Our guest today:\u00a0Patrick Bright\u00a0from EPS Property Search and Property Management.   Transcript: Kevin:\u00a0 Another one of our experts joining us to give us his impression of what the 2016 market is going to look like is Patrick Bright, who is a buyer\u2019s agent from...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2016-02-02T14:00:38+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=\"5 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\\\/patrick-bright-australian-property-market-2016\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"Patrick Bright – Australian Property Market 2016\",\"datePublished\":\"2016-02-02T14:00:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/\"},\"wordCount\":971,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"podcast\"],\"articleSection\":[\"Kevin Turner\",\"Kevin's Update\",\"Latest Stories\",\"Property Investment Topics\",\"Sponsored Channels\",\"Trends\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/\",\"name\":\"Patrick Bright - Australian Property Market 2016 - Realty Talk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2016-02-02T14:00:38+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/patrick-bright-australian-property-market-2016\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Patrick Bright – Australian Property Market 2016\"}]},{\"@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. Anywhere, Anytime.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\",\"name\":\"rolanrush\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"caption\":\"rolanrush\"},\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/author\\\/rolanrush\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Patrick Bright - Australian Property Market 2016 - Realty Talk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/","og_locale":"en_US","og_type":"article","og_title":"Patrick Bright - Australian Property Market 2016 - Realty Talk","og_description":"  Our guest today:\u00a0Patrick Bright\u00a0from EPS Property Search and Property Management.   Transcript: Kevin:\u00a0 Another one of our experts joining us to give us his impression of what the 2016 market is going to look like is Patrick Bright, who is a buyer\u2019s agent from...","og_url":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/","og_site_name":"Realty Talk","article_published_time":"2016-02-02T14:00:38+00:00","author":"rolanrush","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rolanrush","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/#article","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/"},"author":{"name":"rolanrush","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d"},"headline":"Patrick Bright – Australian Property Market 2016","datePublished":"2016-02-02T14:00:38+00:00","mainEntityOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/"},"wordCount":971,"commentCount":0,"image":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/#primaryimage"},"thumbnailUrl":"","keywords":["podcast"],"articleSection":["Kevin Turner","Kevin's Update","Latest Stories","Property Investment Topics","Sponsored Channels","Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/","url":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/","name":"Patrick Bright - Australian Property Market 2016 - Realty Talk","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/#primaryimage"},"image":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/#primaryimage"},"thumbnailUrl":"","datePublished":"2016-02-02T14:00:38+00:00","author":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d"},"breadcrumb":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/channels.realty.com.au\/realtytalk\/patrick-bright-australian-property-market-2016\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/channels.realty.com.au\/realtytalk\/"},{"@type":"ListItem","position":2,"name":"Patrick Bright – Australian Property Market 2016"}]},{"@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. Anywhere, Anytime.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/channels.realty.com.au\/realtytalk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d","name":"rolanrush","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","caption":"rolanrush"},"url":"https:\/\/channels.realty.com.au\/realtytalk\/author\/rolanrush\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/6919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/users\/176692471"}],"replies":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/comments?post=6919"}],"version-history":[{"count":0,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/6919\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/media?parent=6919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/categories?post=6919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/tags?post=6919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}