In a booming property market, people often think that prices will always go up - but that's not really the case. Prices could actually go down despite the boom!
The property market is all about supply and demand, so if there are heaps of buyers and not enough properties on the market, prices will rise, and vice-versa. Today, we're going to look at what factors drive property prices up and what makes them fall.
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We are also holding a live Where to Buy Workshop - Investor Edition on Wednesday, Nov 24, 2021, 7-9PM AEDT (6-8PM Brisbane time)! If you want to join us, check out the link here!
Let's dive in!
Episode Highlights:
1. "The Floating House" in Seattle, Washington [03:40]
2. What influences supply in property? [06:08]
     • The problem with having low supply in rising property markets [08:48]
     • Financial stress & desirable yet tightly-held locations [10:11]
3. Unpacking demand in the context of property [11:36]
     • One powerful factor that affects demand in property [12:35]
     • How does F.O.M.O. contribute to demand in property? [13:48]
     • Markets can overstretch themselves & vendors can get greedy [16:29]
     • Home buyers CAN get decision fatigue! [18:31]
     • Prudential regulations have a HUGE impact on demand [20:54]
4. Supply and demand create market conditions [24:52]
5. Why do different cities perform differently at the same time? [27:27]
6. Appreciation of land & depreciation of buildings [29:05]
Links from the show:
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Veronica Morgan & Meighan Wells 

Veronica & Meighan are both licensed real estate agents who exclusively help buyers. Together they have nearly 40 years experience as property professionals.

Veronica is principal of Sydney based Good Deeds Property Buyers and is also co-host of The Elephant in the Room property podcast as well as Location Location Location Australia on Foxtel and author of Auction Ready: how to buy property at auction even though you're scared s#!tless!

Meighan is the multi award winning principal of Brisbane based Property Pursuit, chairperson of the REIQ Buyers Agent Chapter & a regular media commentator.

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