{"id":6964,"date":"2016-02-10T01:00:26","date_gmt":"2016-02-09T14:00:26","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=6964"},"modified":"2016-02-10T01:00:26","modified_gmt":"2016-02-09T14:00:26","slug":"the-areas-to-watch-in-2016","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/the-areas-to-watch-in-2016\/","title":{"rendered":"The areas to watch in 2016 – Margaret Lomas"},"content":{"rendered":"

 
\nWe check in with\u00a0Margaret Lomas<\/strong>\u00a0from Destiny Financial Solutions to hear what she thinks the property landscape will be like. She identifies one of the last capital city markets that will be the big improver this year.
\n <\/p>\n

Transcript:<\/h3>\n

Kevin<\/b>:\u00a0 As we continue to head into a brand-new year, let\u2019s have a look back at 2015 with our good friend Margaret Lomas from Destiny Financial Solutions.
\nMargaret, thanks for your time.
\nMargaret<\/b>:\u00a0 You\u2019re welcome.
\nKevin<\/b>:\u00a0 Did you have a nice time with Christmas and the family?
\nMargaret<\/b>:\u00a0 Yes, we always do, especially with a new grandbaby.
\nKevin<\/b>:\u00a0 Well done. That\u2019s fantastic. A little boy or a girl?
\nMargaret<\/b>:\u00a0 Girl.
\nKevin<\/b>:\u00a0 Well done. Congratulations, Margaret. That\u2019s lovely news.
\nMargaret<\/b>:\u00a0 Thank you.
\nKevin<\/b>:\u00a0 Let\u2019s have a look at property. Let\u2019s turn our attention to that. What were the lessons for you in 2015, Margaret?
\nMargaret<\/b>:\u00a0 I guess one of the most important things about 2015 is that you shouldn\u2019t be really listening to everything that is written in the newspapers. Unfortunately, there was all sorts of news about the property boom when, in fact, there were many areas that indeed weren\u2019t booming where there were still some great opportunities.
\nI think if anyone was really watching those markets in 2015, they were able to pick up some really good bargains that people were missing because everybody was subject to that big buyer frenzy in Sydney and all trying to rush in there while the other areas sat there ripe for the picking.
\nKevin<\/b>:\u00a0 Yes, we did actually see some people rush in and think, \u201cThe property boom\u2019s on everywhere; let\u2019s just buy it.\u201d There must have been a number of people who were hurt, I would think, Margaret.
\nMargaret<\/b>:\u00a0 I think so, especially toward the end of that boom. We saw it coming. We tried to warn everybody that now wasn\u2019t the time, and now many people who bought into that boom in the closing stages have found that their properties have just started to come off the boil a little and some people, most likely, paid too much.
\nKevin<\/b>:\u00a0 You and I have spoken in the past about buying off-the-plan and the dangers of that. I guess there are going to be many people as this year progresses who won\u2019t simply be able to settle on their new properties, Margaret.
\nMargaret<\/b>:\u00a0 Of course, it\u2019s going to be a bit of a double-whammy for them because not only may they find that the prices that they\u2019ve agreed to pay don\u2019t materialize and the banks will value the properties lower than their purchase price, but also of course, with the request from APRA and the tightening up of the banking rules, many banks are now not letting borrowers or investors borrow any more than 80%.
\nA lot of people who bought off-the-plan properties were doing so thinking that they would be okay to get a 90% loan, so they\u2019re going to be hit from two sides and I don\u2019t like the look of that. I think we\u2019re definitely going to see many people having to forfeit their contracts and therefore, they\u2019re going to be losing quite a lot of money. Most of them would have paid a 10% deposit, so they\u2019re all going to have to forfeit those contracts.
\nKevin<\/b>:\u00a0 A bit of hurt coming. What will you be telling the people you work with, Margaret, about 2016? What are the areas you\u2019ll be watching?
\nMargaret<\/b>:\u00a0 I still think that there is a lot of really good property in Brisbane, and I think we can\u2019t ignore the fact that Brisbane is one of the last remaining capital cities where the median price is well below what the average income can afford.
\nWhenever there\u2019s room between that average income and the median house price, we\u2019ll always see a little bit of pressure on prices. If people look to those areas where there are a lot of families but little new land and some great infrastructure development, they\u2019re still going to see some really good price increases.
\nBrisbane has been really percolating away in many of those suburbs that people might have missed. Everyone is still thinking about CBDs and 10 kilometers around the CBD, but there is a really good band in Brisbane 10 to 15 kilometers from the CBD where we\u2019re seeing some really good opportunity for growth. The same applies in Melbourne.
\nI\u2019m really picking some of those suburbs in that 15 kilometer band around Melbourne, not quite as far out as the Craigieburns and the areas where there is plenty of new land, but in those land-locked suburbs of Altona Meadows and Deer Park and around those areas, where we will definitely see some pressure on prices. They\u2019ll behave contrary to the general Melbourne market, which is really being impacted by those off-the-plan sales.
\nKevin<\/b>:\u00a0 What regional markets do you think will fair okay this year, Margaret?
\nMargaret<\/b>:\u00a0 I\u2019m not going big on the regions in 2016, again, and I didn\u2019t in 2015, mostly because 2012, 2013 was really strong in the regions and I think anybody who got in then did quite well and will sit on a pretty good property that will get them some fairly good yields and some growth still. But I think a buy in the regions in 2016 may come at the cost of a better buy in some of those capital city suburbs.
\nKevin<\/b>:\u00a0 Margaret, always great talking to you. Thank you so much. Look forward to working with you in 2016. Margaret Lomas, of course, from Destiny Financial Solutions.
\nThanks, Margaret.
\nMargaret<\/b>:\u00a0 Thank you for having me.<\/p>\n","protected":false},"excerpt":{"rendered":"

  We check in with\u00a0Margaret Lomas\u00a0from Destiny Financial Solutions to hear what she thinks the property landscape will be like. She identifies one of the last capital city markets that will be the big improver this year.   Transcript: Kevin:\u00a0 As we continue to head…<\/p>\n","protected":false},"author":176692471,"featured_media":6542,"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-6964","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":"\nThe areas to watch in 2016 - Margaret Lomas - 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\/the-areas-to-watch-in-2016\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The areas to watch in 2016 - Margaret Lomas - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  We check in with\u00a0Margaret Lomas\u00a0from Destiny Financial Solutions to hear what she thinks the property landscape will be like. 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