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

Episodes

Episode 321: How Do First Home Buyer Incentives Impact Affordability?

Do first home buyer incentives actually help make housing more affordable, or do they unintentionally worsen affordability issues?

As the debate surrounding first home buyer incentives continues, we seek to understand their true effect on property prices and overall housing affordability. Governmental interventions, such as lending to first home buyers, raise questions about the source of funding and who ultimately benefits from these policies.

Today, we are joined by property valuer, Will Phillips — whose extensive research and expertise in property valuation brings valuable insights into how first home buyer incentives are affecting the housing market.

Tune in to this episode as we explore the complexities of first home buyer incentives and gain a deeper understanding of how these policies are affecting housing affordability and the broader socio-economic landscape.

Episode Highlights:

00:00 - Introduction

01:04 - Who is Will Philips?

03:25 - Why does Perth exhibit higher rates of homeownership in contrast to other areas?

09:34 - How Will separated macro-environmental factors from incentives in his research

14:24 - Do Perth residents benefit from simplified housing access?

16:46 - What's the impact of keystart loans on suburban financial trends?

19:39 - Do incentives create imbalance between new and established markets?

22:17 - What challenges do homeowners in suburbs face amid recent price changes?

26:45 - Examining the correlation between mortgage rates and long-term unemployment

30:44 - Additional questions arising in the discussion about homeownership and employment

37:20 - What's Will's take on Perth's investor appeal amid changing market factors

39:54 - Will's philosophy on assessing risk and return in property investment

42:48 - How does owner-occupier appeal differ between Perth and Southeast Queensland?

47:01 - Exploring the relationship between market dynamics and build quality

49:05 - Will Phillips’ property dumbo

About Our Guest:

Will Phillips is a property valuer with a 15-year career spanning Australia's diverse landscape. Beginning in South-East Queensland, he assessed properties in urban and remote areas before gaining unique insights in Outback NSW, Outback QLD, Coastal QLD, and Western Australia. Coupled with a Master of Economics (2023), Will dedicated his "spare time" to a 20,000-word dissertation investigating the impact of the mining industry, first home buyer grants and low deposit home loans on Western Australia's property market over the past 20 years. His extensive experience equips him with unparalleled insights into regional dynamics and market cycles across Australia.

Connect with Will Phillips:

Resources:

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Chris Bates