in the future - u will be able to do some more stuff here,,,!! like pat catgirl- i mean um yeah... for now u can only see others's posts :c
Something really weird is happening in the property investing world...
You know those 'leveraged to the eye-balls' type property investors?
Well..they're being replaced.
By first timers.
It's the younger generation dipping their toes in the 'property investing' water.
But they're dipping differently to us old folk'
They're savvier.
They look everywhere.
And they often don't like their own backyard.
That's spreading growth out.
From Sydney & Melbourne -> Adelaide, Perth & Brisbane.
No surprises the big cities are moving backwards, and the smaller ones are steaming ahead.
Source: CoreLogic Australia
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People often ask where “Confidence Finance” comes from.
From a 30mins search on ASIC lol.
A decade ago, I left my job as an economist to start a mortgage broking company.
Of course, my first port of call was to come up with a name.
Curtis Stewart & I got onto the ASIC registry and started scrolling through all the options that were still available.
Enter Confidence Finance.
That’s it. That’s the big reveal.
It was literally just scrolling on a registry that hasn’t changed its UI since Paul Keating took office.
Today, though, Confidence Finance:
➝ writes tens of millions of dollars worth of loans each month.
➝ is called ‘work home’ by 15 amazing employees.
➝ is seen as a leader in the lending industry.
The reality is my business partner & I could have called it anything, and we would still be in the same position today.
Because things like business names, logos, and the colour of your brand are inconsequential in the long run.
So, for all the mortgage brokers entering the industry, here’s some advice:
➝ focus on growing a personal brand for yourself. Positioning yourself as an approachable expert will take you further than a beautifully designed logo ever will.
➝ serve your customers so well, they talk about you at family dinner.
➝ learn to love 'process', and design yours around amazing customers experiences. This will save you hours and make your customers smile.
You do these 3 things, and I can almost guarantee you’ll be further ahead.
How did you come up with your business name?
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This is one of my FAVOURITE releases every month...
Australia's jobs report card
JOBS are at the heart of our livelihoods...and housing!
Without a job, you're probably not buying that house or investment property.
In my latest video, I analyze the most recent state-by-state employment data, ranking each state through a housing market lens.
🔹 Australia as a whole: Resilient. Employment growth is holding strong, even after multiple rate hikes. 💪
🔹 South Australia: A bit concerning. It's one of two states that have employment numbers falling, which is unusual considering the housing market is still running hot. SA investors — keep your eyes out! 👀
🔹 Northern Territory: A positive surprise! Low unemployment and solid job growth could signal a housing rebound if these trends continue. NT might be one to watch! 📈
🔹 NSW & VIC: Decent job numbers. Both states are set to gain momentum once interest rates start to fall. 🚀
🔹 Queensland & WA: Absolutely on fire! Job markets are booming, and housing markets are following suit. 🔥🔥🔥
I know it might sound weird to have a “favourite” economic report (like how I enjoy dipping my French fries in milkshakes 😅), but these numbers give us an incredible insight into what’s coming next.
👉 Check out the full breakdown in the video!
#economy #jobs
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3 words to sum up the interest rate meeting days in 2024...
'Noisy, but boring'
For the first time in years:
⭐ Interest rates have not changed...and will not change
⭐ Interest rate settings are broadly right for now.
⭐ The Reserve Bank of Australia economic forecasts for the year are pretty close to actually happening.
⭐ The 'go softer' approach is being vindicated with strong employment growth, an economy that is still growing & inflation slowly coming back to band.
The good news is, 'boring' is a sign of a 'job well done'.
No changes does make it a bit tricky to talk about every week on our pod though! 😭
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Would you open a business, if you know you were going to fail?...
That’s the bizarre situation apartment developers are facing...
The cost of building a medium rise apartment is up 36% in 5 years.
But the price of their apartments are only up 18%.
It's pretty hard for businesses to survive when costs rise at DOUBLE the pace of income...for 5 years!
This creates a ridiculous outcome.
Apartment sites that could accomodate 1000s of people...are actually better left as a dumping grounds.
How would you fix this problem?
hashtag#RealEstateRealities hashtag#SydneyHousingCrisis hashtag#ImpossibleEconomics hashtag#DeveloperChallenges hashtag#PropertyInvestment
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This table is one of the scariest to look at for property investors...
Investors are DOMINATING specific property markets in this boom cycle.
Check out SA, where investment credit growth stats are 4x owner occupiers.
Investors are creating the price growth (It clearly isn't owner occupiers jumping over themselves competing).
Investors are typically FLIGHTY.
They'll run away when the time comes, just like they've ran in.
Overall this creates potential future volatility & more risk to your property investments.
Source: Australian Bureau of Statistics Housing Finance Data, Jan23 -> Aug 24 comparison
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The best part of being in business?
Doing it together with Curtis Stewart.
This month marks 10 years since we googled 'how to start a business?' & Confidence Finance was born.
I got told;
'Dont quit your job'...but we did.
'Don't go into business with friends'...but we did.
The same old endless amount of reasons NOT to do something.
We did it all anyway.
I've never been great at being told what to do 🤷🤷
Turns out running your own race and doing it with a friend, is a whole lot of fun...
To the next 10 amigo 🥂
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This awesome chart shows why APARTMENTS will do well in the short run in Australia
The new 'supply' of apartments nosediving, pretty much across the country.
We're not building enough.
Not even close to enough, around HALF of what we actually need in the years ahead.
The starting point is bad too, vacancy rates are low & there's not much 'excess' apartment buildings around for Aussies to live in.
At exactly the same time, population growth rates are really high.
More demand, less supply = Price rises
Source: The Australian Financial Review
#economics #lending #sydneyproperty
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Banks' lending practices and consumer spending habits have a direct impact on the Sydney property market🏦
#SydneyPropertyMarket
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Grow wealth through property.
Hi, i'm Redom. Ex Treasury Economist and Founder of Confidence Finance. In the past decade, i've worked with 1000s of property investors and been recognised as one of Australia's best brokers for the past 7 years in a row.
This channel is about sharing my experiences, the stories of others & everything i know about:
1. The Aussie Economy & Aussie Property Market
2. How to Grow Wealth Through Property
3. How to Finance Your Portfolio
My goal is to make financial education more accessible to you, and help Aussies make better financial decisions.
Reach out to us anytime via the links below.