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Property Line - 01 Jan 1970

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Sales Coaching

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Property Line airs every Monday at 10:00 am

With the return of lockdown restrictions in Victoria last week, Property Line turns to Gray’s Property Anatomy host, Chris Gray to tell us about the recently announced 4 month extension to the home loan deferral period by the Australian banks.

Tony Crabb from Cushman & Wakefield describes the situation in Victoria as a blow. “The cost is about $1 billion a week to the economy and the state government have now announced a new round of stimulus measures of $534 million to help alleviate the pain, specifically targeting businesses that are going to be hit” he says.

And now that borders in other parts of Australia are opening once again, Crabb notes “Domestic holidays really are the only option for people who would like to take a break.” With Australians spending $74 billion annually on overseas holidays “that money that would’ve been spent is now available to be spent domestically” he says. “As much as the tourism industry has been hit by the absence of international tourists, Australians can make up for it themselves by getting out and about in their own backyard. 

Whilst not in lockdown, Sydney has it’s own problems. With rental property vacancy rates at a historic high of 30,000 properties, Anna Porter from Suburbanite tells us the issue is not just COVID-19 but an oversupply of certain properties. “Units have been hit by oversupply pretty hard” she says. “And areas that aren’t as well supported by employment drivers like some of those regional and tourism hubs are getting hit pretty hard as well.”

People do have to live somewhere but according to Porter, “they look for other solutions and there’s a lot of other options out there to bring that rental overhead down.” Offering her best advice to landlords, Porter suggests “landlords need to stay close to their property manager and they need to be realistic and be smart about how they’re going about their rental property.”

In Dasey Direct this week, having just returned from a family holiday at Burleigh Heads on Queensland’s Gold Coast, Jason voices his concern about the area’s short to medium term future. With inflow from the international tourist and investment markets curtailed by the COVID-19 pandemic and an oversupply of units, “Get ready for a wild ride for the next couple of years if you do own Gold Coast property” he says “ especially when it comes to home units.” 

And introducing us to Shepparton in the heart of Victoria, is Kevin Hicks from Kevin Hicks Real Estate. “Shepparton is a very appealing district” he says. “It’s geographically in the hub of Victoria.” Noting its location in the irrigation belt of the Goulburn Valley and with easy access to the Murray River, snowfields and winery regions, “Shepparton has opportunity” he says.

You too can live the dream in Shepparton, as Hicks showcases the very special Mayherling. Ticking more than a few boxes, the 53 acre property is both pretty and productive with an 18 acre lemon grove in full production, fully established English trees and unique waterway.

Join Jason Dasey for Property Line each Monday at 10am AEST. Exclusively on PropertyTV.io

Tags :

Tony Crabb Anna Porter

Release Date:

13 July, 2020

License:

Standard

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