The Elephant in the Room
The property podcast for the thinking person.

Episodes

Episode 312: How Are Aussies Tackling Housing Affordability Amid Interest Rate Hikes and Migration?

Is the dream of owning a home in Australia becoming increasingly difficult amidst rising interest rates and the influx of migration?

In today's episode, we delve into the escalating challenges of home ownership in Australia, focusing on the combined impact of rising interest rates and increased migration. We start by examining how these higher interest rates are making it increasingly difficult for people to buy homes. Following this, we explore the influence of recent migration patterns on the property market, analysing how these demographic shifts are affecting housing demand and prices.

Martin North, founder of Digital Finance Analytics, joins us to offer his expert insights into the intertwined issues of climbing interest rates, growing migration, and the pursuit of affordable housing. Amidst these challenges, we also highlight the innovative strategies Australians are adopting to tackle the affordability crisis.

Tune in for an in-depth exploration of Australia's housing affordability crisis, where we'll discuss both the problems and the creative solutions emerging in response.

Episode Highlights:

00:00 - Introduction

01:12 - Overview of Martin North's expertise and background in finance and property

02:12 - Similarities and differences in Australia and UK property market

05:34 - Does the UK property market hold similar economic weight as Australia?

12:16 - The impact of recent immigration trends on the Australian property market

16:03 - Comparing UK and local inflation trends post-COVID: What's different?

25:49 - Is the recent market recovery a result of changing immigration and wealth patterns?

33:12 - Why are unit resales in Melbourne facing losses despite market growth?

38:13 - What's the directional outlook for property prices next year?

42:43 - Has the Australian property market become more volatile recently?

49:08 - Key role of residential property in Australia's economy and government stability efforts

56:06 - Veronica shares a property dumbo

59:15 - Martin North’s property dumbo

About Our Guest:

Martin North is a prominent researcher who specialises in the mortgage lending, savings payments, and superannuation sectors. He is the founder of Digital Finance Analytics — a boutique research, analysis, and consulting firm. He has a long history of research in mortgage stress in Australia and publishes relevant indices on defaults, mortgage stress, and consumer confidence. In addition to his work in finance, he curates the YouTube channel "Walk the World," where he covers finance and property news with a distinctively Australian flavour and invites controversial guests. He is also a founding director of Asbestos Awareness Australia, a registered charity he established with his late wife, Jill, in 2021.

Connect with Martin North:

Resources mentioned in this episode:

Resources:

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

Chris Bates