“Don’t Fear A Crash”: Dr Andrew Wilson
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“Don’t Fear A Crash”: Dr Andrew Wilson

A rapid fire tete-a-tete with the leading Australian economist and founder of My Housing Market.

By Terry Christodoulou
Wed, Apr 21, 2021Grey Clock 3 min

Kanebridge News: Let’s cut straight to it – your response to the almost daily diatribe being espoused by the naysayers in regards to the national housing market, specifically Sydney, and predictions about its alleged imminent failure?

Dr Andrew Wilson: Such attention-seeking crash predictions have consistently proved to be wrong in the past, and will again prove just as wrong this time. The prospect for the preconditions for falling house prices – sharp increases in interest rates – has never been more remote.

KN: How do you view market movement in the major capitals the next 12 months?

AW: Strong growth in all capitals – Melbourne, Sydney and Perth top performers all likely higher by 10%. Price’s growth will likely decline over the year as affordability falls through higher prices with flat interest rates and low incomes growth.

KN: And the residential rental market?

AW: Lower vacancy rates and higher rents for houses compared to units generally across the board.

KN: Perennial question then – advice for those trying to get into the property market this year?

AW: Maximise your buying potential. Be prepared to compromise. Be prepared to be disappointed. Consider buying first and then selling. As always, consult a financial advisor.

KN: How important is data use in property and how can a novice best apply such sets in regards to a purchase?

AW: Reliable, real-time data provides the foundation for property decision making – enhanced by objective, rational commentary that joins the dots.

KN: What do you see as the most important data consideration(s) when assessing movement in a specific market?

AW: Local supply and demand factors, matched with the overarching macroeconomic drivers and real-time market activity measures of prices and volumes.

My Housing Market’s founder Dr Andrew Wilson.

KN: Clearance rates across the country, specifically Sydney, have recently hit record highs — how do you analyse such numbers, given this is unprecedented?

AW: The Sydney market is responding to high levels of affordability with prices – despite recent strong growth – still at the levels of four years ago. Over that period mortgage rates have fallen by over 1% and incomes have increased by over 6%, giving buyers the capacity to pay more for property. With credit restrictions and coronavirus impediments now eased – the market has clear air to catch up.

KN: Your take on why we’re a property engaged culture?

AW: High aspiration for home ownership and investment underpinned by a strong financial sector and enhanced taxation benefits.

KN: To those that might not know you – you formerly worked as a chief economist for the Domain group, Australian Property Monitors before launching  My Housing Market.

AW: Well, my background is in the science and philosophy of housing market economics — I was an academic researcher and lecturer at RMIT University before I worked my way to chief economist at Domain Group and, now, running my own offering and analytics through My Housing Market.

KN: What was the impetus to launch My Housing Market – and how does the platform differentiate itself from what else is out there?

AW: My Housing Market combines high-level, comprehensive, real-time data insights into property markets with detailed, credible and reliable expert commentary. The ‘what’ and the ‘why’.

KN: What is it about property that you’re drawn to?

AW: I have to live somewhere.

KN: Well played …

Kanebridge News uses real-time data supplied by My Housing Market.
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In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au