Property Point July 10th

I don’t know about you, but I find morning TV hosts incredibly annoying.

I rarely get to see them, with their contrived laughter, over-the-top friendliness, stupid nicknames for each other, make-up and perfect hair cuts.  

But sometimes, if there has been some event that might interest me, or if I’m curious about what’s going on, I might flick on the TV and see what’s happening as I’m getting ready for work.

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I immediately  regret it and start flicking channels to try to find someone bearable. It’s a challenge that usually lasts a couple of minutes before I turn the TV off and do something much more pleasant, like go to work.

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I did like Karl Stefanovic but he has been flicked, apparently because his employer didn’t like his podcast guests. There seemed something real about Karl but he was an island in a sea of fakery so there’s no point in me turning on Channel 9 anymore.

There’s an Irish journalist/host on ABC TV, Catherine  Murphy, who I also like. She’s funny and real and seems to want to stick to simply presenting a story in her slightly quirky style without imposing an agenda. But that’s about it for me.

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One thing the morning shows have an abundance of is “experts”. Whatever the drama that’s emerged, there’s an expert to explain it to you, pull it apart and tell you how concerned you should be. The expert needs to do it in about 17 seconds because everyone is going to get bored soon and we’ve got an ad break coming up.

The more dramatic the event and the more it impacts the loyal viewers, the more vital it is that an expert is on hand.

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The current disaster of note it a neat combo: the economy/inflation/interest rates/housing downturn. This is the type of news drama you want when you’re planning the show because it affects the viewers, hits their hip pockets.

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But experts are everywhere in the media on this one, not just the morning shows.

They’re out there giving their views on interest rates (some say they will go up, others say they will go down), the economy (some say it will be okay, others say we are headed for a recession), inflation (some say it will get worse and others say it will ease).

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Part of this blockbuster, of course, is house prices. Some experts say prices will drop in big cities like Sydney and Brisbane. Others say they will drop everywhere. Some say there will be a small, temporary drop but things will soon start going up again because there is a lack of housing supply across the nation.

One group of experts that are worth paying attention to are the valuers from Herron Todd White, who put out their monthly property clock, which is a snapshot of how they see particular markets. The position on the clock face a particular city is located (we’re talking analogue here kids, not digital) tells you where it sits in the market. Twelve o’clock is top of the market, 3 o’clock is a falling market, 6 o’clock is the bottom of the market, 9 o’clock is a rising market.

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Things can change quickly and there a times a property can go from falling market to bottom of the market and up to rising market very quickly.

HTW’s June clock would have been a challenge for them because tax changes and other events had happened but their longer-term impacts are unclear.

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They had Bundaberg and Toowoomba at the top of the market, Sydney at 2 o’clock and starting to decline, The Whitsundays, Gladstone and Sunshine Coast approaching the top of the market and Mackay, along with Rocky, Townsville and Cairns, in a rising market.

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Most agents in Mackay will tell you there has been a change but there is still activity, investors are still engaged and properties are selling. Most are being alert, not alarmed.

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