In this week’s episode #65 of the Property Planner, Buyer and Professor Podcast, the team discuss “How to combat your naysayers and make successful property decisions”, as Dave, Cate and Pete take you through:
- Why are some people naysayers? 2020 was the year the naysayers and in the end, the sky didn’t fall. The trio explain the drivers that turn people into naysayers.
- When is a naysayer doing this out of care? Parents are great at spotting the risks their children may be opening themselves up to. That doesn’t just disappear when the kids reach adulthood. We explain how to manage the people that care about you the most.
- When should you listen to your ‘old folks’? You’ll be laughing all the way to the bank with the money management tips you can mine from your parents and grandparents.
- What has a naysayer cost you in the past? The Property Buyer shares the opportunities she’s lost from listening to those near and dear.
- How to get past the naysayers. The best way to combat the naysayers, is to understand the ‘why’ behind the opinion and make up your own mind. This means doing your research and asking your independent experts great questions.
- What role did the media play during our recent downturn? Interestingly, the media’s focus on trumpeting the worst-case scenario may have actually mitigated the impact to the property market. The trio explain how.
- How are predictions shaping up now? The sun has come out on the property doomsayers, with many now predicting growth of around 10% in 2021. However, the clouds are still hanging over Melbourne, with predictions that Melbourne will see the lowest growth next year. But we think this is overly pessimistic.
- And of course, our ‘gold nuggets’!
Weekly market insights– the Property Planner, Buyer and Professor’s insights
- Demand for holiday homes increases. Fears of another outbreak, combined with additional household savings following lockdown have driven a large proportion of buyers to consider a holiday house purchase. But is this the right strategy for you? We think this warrants a full episode, so stay tuned for next week’s podcast as the Property Planner, Buyer and Professor tackle holiday homes.
- Sunshine Beach wins the 2020 crown for capital growth. CoreLogic figures released last week have revealed Sunshine Beach had the largest capital growth return of 2020 with values rising by a whopping 27.6%. No doubt the capital cities of Melbourne and Sydney have been channelling money into these locations as beautiful holiday hotspots. It will be interesting to see whether long-term performance will result for investors.
- Unemployment forecasts have improved. Banks and economists have revised their unemployment predictions, with most agreeing we won’t even reach 8% unemployment, a vast improvement from the previous forecast of 11%. Commonwealth Bank economists have announced that they expect the unemployment rate has already peaked and we won’t go any higher than where it is right now.
Cate Bakos – The Property Buyer’s Golden nugget: if someone’s being a naysayer because they’ve had an issue with property. It’s ok to unpack that and find out what it was that they did wrong. A well selected property doesn’t tank, unless they had a short timeline and had unfair expectations and more often than not, it’s because they’ve chosen a dud. Invariably, they’ve done something critically wrong. Delve into and understand, why that person has a jaded view.
Peter Koulizos – The Property Professor’s Golden nugget: educate and inform yourself, listen to the naysayers and find out why they’re negative. Are they saying that property markets collapsed in that period. Do we have the same environment for the same thing to happen now. Don’t discard what they’re saying, but do your own research to make up your own mind.