The Elephant In The Room Property Podcast | Inside Australian Real Estate

Australia’s latest budget and tax changes have forced investors to rethink some of the strategies that have shaped wealth creation for decades. So what actually works now? In this episode, Ben Nash joins Veronica Morgan and Chris Bates to unpack what the changes mean for property investors, negative gearing, capital gains tax, superannuation and investment structures. They also examine whether rentvesting still stacks up, when buying your own home can hold back broader wealth creation, and why property leverage remains powerful despite a tougher cash-flow environment. The conversation goes beyond tax strategy. Ben explains how he stress-tests investment decisions against real-life changes such as children, parental leave and rising costs, why behavioural barriers can stop people acting on good advice, and the risks of relying on financial “hacks” from social media. With the rules becoming more complex and the cost of getting investment decisions wrong potentially significant, this is a practical look at how Australians can rethink their wealth-building strategy in a post-Budget environment. Episode Highlights 00:00 – Meet Financial Adviser Ben Nash 03:23 – Why Rentvesting Can Beat Buying Your Home First 09:44 – Why Good Advice Gets People To Act 12:30 – Why Property Still Matters For Wealth Building 21:36 – Does Rentvesting Still Work After The Rule Changes? 26:45 – How Investors Are Feeling After The Budget 29:49 – Building Financial Buffers For AI Disruption 34:59 – The Frustration With Constant Tax Policy Changes 36:02 – Are Tax Changes Holding Back Ambition? 39:28 – Why Smart People Still Fail To Take Action 42:04 – The Costly Mistakes Investors Make With Structures 46:01 – Can You Afford Advice Or Should You DIY? 48:52 – Final Thoughts: What Should Investors Do Now? About the Guest Ben Nash is a financial adviser and the founder of a financial advice business that works with professionals navigating major financial decisions around property, investing and wealth creation. He has spent more than a decade working with clients in their 30s and 40s and has built more than 10,000 financial plans on a fixed-fee model, without product commissions. Ben brings a different perspective to property because his advice is not tied to whether a client buys a property, invests in shares or chooses to do nothing. His focus is on the numbers, strategy and long-term financial outcome. In this episode, Ben shares how he is advising clients in the wake of recent Budget and tax changes, including the evolving role of negative gearing, rentvesting, property structures, superannuation and shares. He also explores the behavioural barriers that stop people acting on good financial decisions, the risks of DIY strategies and why comprehensive financial planning is becoming increasingly important. Connect with Ben LinkedIn | Benjamin J. Nash Website | Pivot Wealth Instagram | Ben Nash Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

The property market may be turning, but the headline numbers don’t tell the whole story. Gerard Burg joins Veronica and Chris to unpack what’s really happening beneath the national figures, from Brisbane’s rapid shift from growth to decline to the growing gap between premium and more affordable markets. They explore what rising listings actually reveal about buyer and seller behaviour, why affordability has become such a powerful constraint, and whether recent policy changes are driving the downturn or simply arriving after the warning signs were already there. Gerard also explains what Cotality’s suburb-level data reveals about how different parts of the market are responding. The conversation then moves beyond property prices to the bigger economic picture: stubborn inflation, a tight but unusually sticky labour market, construction constraints and Australia’s worsening rental shortage. With rental listings still well below their 2020 peak, the discussion raises a bigger question about what happens to long-term rental supply if investor participation continues to weaken. And finally, Gerard shares the property purchase that reminded him that even economists aren’t immune to emotion when buying a home. Episode Highlights 00:00 – Why Property Markets Are Moving in Different Directions 09:35 – Listings Rise as Buyers Pull Back 12:14 – Are Rates or the Budget Driving the Downturn? 15:35 – Investors and First Home Buyers Are Pulling Back 19:04 – Why Inflation and Jobs Aren’t Behaving Normally 25:13 – Energy Costs, Inflation and the Housing Squeeze 30:12 – Affordability Is Reshaping the Property Market 35:22 – What the Data Says About Market Fear 38:06 – What Past Property Downturns Can Tell Us 41:08 – The Signals That Could Mark a Market Turn 45:43 – Even Economists Make Emotional Property Decisions 49:01 – Wrap-Up and Listener Questions About the Guest Gerard Burg is a national research leader at Cotality , bringing more than two decades of experience as a macroeconomist at NAB to the analysis of Australia’s property market. His background gives him a perspective that connects property with the broader economy, including interest rates, affordability, labour markets, inflation, migration and consumer behaviour. At Cotality, Gerard has access to detailed property data that allows the team to examine market movements well beyond national and capital-city averages, including trends at suburb and price-segment level. In this episode, Gerard draws on that data to explain how the current downturn is unfolding, why different parts of the market are behaving very differently, what rising listings and weak buyer activity reveal about market sentiment, and how affordability and investor behaviour could shape both property prices and rental supply. Connect with Gerard LinkedIn | Gerard Burg LinkedIn | Cotality Australia Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

Do you really need 10 properties to build wealth? Or has the property industry convinced investors that bigger portfolios automatically mean better outcomes? In this episode, Jordan de Jong, founder of Gameplans, joins Veronica and Chris to unpack the realities of property portfolio planning, borrowing capacity and the growing grey area between property strategy and financial advice. We explore why buying more properties can actually work against investors, how outdated strategies can send people down the wrong path, and why the quality of the asset may matter far more than the number of properties you own. Jordan also reveals what his data shows about portfolio sizes, why investors shouldn’t feel behind, and how much property you may actually need to achieve your goals. The conversation also tackles the uncomfortable issues facing the buyer’s agency industry: advisers operating outside their expertise, the use of modelling tools, SMSFs and trusts, commercial property, and whether large-scale buying can actually push prices higher in concentrated markets. If you’re building a property portfolio, working with a buyers agent, or questioning whether more property is really the answer, this episode challenges some of the industry’s most persistent assumptions. Episode Highlights 01:21 – Meet Jordan de Jong: The Story Behind Gameplans 04:09 – The Borrowing Capacity Trap Investors Miss 06:26 – Why Quality Matters More Than Property Count 09:06 – What Gameplans Actually Helps Investors Do 10:22 – Why Property Modelling Can Create False Confidence 23:21 – Can Buyers Agents Push Property Prices Higher? 27:36 – Why Property Alone Isn’t the Whole Financial Plan 29:12 – Why Investors Need a Team Around Their Property Strategy 30:38 – Why Financial Advisers Often Avoid Property 34:53 – The Risks of Pivoting Into Commercial Property 37:11 – What Investor Activity Is Really Doing Post-Budget 40:08 – The Property Portfolio Size Reality Check 46:00 – Overleveraging: When More Properties Become a Problem 49:05 – Jordan’s Own Property Investing Mistake 50:48 – Wrap Up + Listener Questions About the Guest Jordan de Jong is the founder of Gameplans , a portfolio planning software platform used by property professionals across Australia and New Zealand. His involvement in property investing began early, buying his first home at 18 and later building his own investment portfolio. After becoming a qualified property investment adviser, Jordan founded Gameplans during the 2020 lockdowns after becoming frustrated by the lack of practical, long-term planning available to property investors. The platform allows professionals and investors to model property portfolios, cash flow, borrowing capacity and long-term financial outcomes. In this episode, Jordan draws on his experience working with hundreds of property professionals to examine how investors approach portfolio building, where modelling can create false confidence, and the challenges of keeping property advice within appropriate boundaries. He also shares Gameplans' data on portfolio sizes and explains why he believes investors should focus less on the number of properties they own and more on whether their assets actually help them achieve their goals. Connect with Jordan LinkedIn | Jordan de Jong Instagram | Jordan de Jong Linktree | Jordan de Jong Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

For years, Steve Palise told people not to buy the home they live in. Then he bought a $6 million home on Sydney’s Northern Beaches himself. So what changed? In this episode, Steve joins Veronica and Chris to explain the shift from a purely financial decision to one shaped by family, lifestyle, security and the freedom that comes with success. The conversation then turns to the growing rush into commercial property. With investor interest surging, Steve explains why commercial property is fundamentally more complicated than residential, from lease reviews and tenant risk to vacancy studies, planning, land content and local market dynamics. We unpack why a high yield doesn't necessarily mean a good investment, why scarcity and owner-occupier demand matter, and how different commercial assets can perform very differently depending on their location, use and tenant base. Episode Highlights 03:12 — Steve Palise Changed His Mind About Buying a Home 07:42 — The Opportunity Cost of Owning Your Home 12:43 — Why Investors Are Rushing Into Commercial Property 17:24 — Too Many Buyers, Not Enough Commercial Property 22:35 — The Commercial Property Mistakes Investors Miss 27:41 — Why Land and Scarcity Matter in Commercial Property 32:38 — What’s the Best Price Point for Commercial Property? 34:06 — When Commercial Property Risk Really Comes From 37:47 — The Vacancy Lessons Steve Learned the Hard Way 42:38 — The Commercial Buyers Agent Boom Has a Catch 49:28 — Should You Buy a Home Before Building a Portfolio? About the Guest Steve Palise is a commercial buyers agent and property investor who has spent almost two decades investing in property, beginning with a residential portfolio before shifting into commercial property. He spent six years working as a buyers agent with Rethink Investing before establishing his own business. Steve now leads a commercial property acquisition team with six acquisition staff across the capital cities, alongside a due diligence team that includes an experienced commercial property manager and three qualified commercial valuers. His approach focuses heavily on tenant quality, vacancy rates, location, land component and the long-term fundamentals of commercial assets. Having experienced the transition from residential investing to commercial property firsthand — and more recently changing his own view on home ownership — Steve brings a practical perspective on both the financial and personal decisions behind property investment. Connect with Steve Steve Palise - Palise property | LinkedIn LinkedIn | Palise Property Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

The government has framed its proposed capital gains tax changes as a way to tackle intergenerational unfairness. But what happens when the same reforms make it harder for younger Australians to build wealth, save a deposit, invest in businesses and diversify beyond property? Chris Brycki, founder and CEO of Stockspot, joins Veronica and Chris to unpack what the Treasury modelling may be missing. With Stockspot clients collectively withdrawing $37 million last year to buy property, he explains how diversified ETFs have become a deposit-building strategy — and why the new tax treatment could make that pathway less attractive. We also examine the hidden problem of taxing inflation-adjusted gains while failing to provide the same treatment for real losses, the potential impact on small-cap companies and startups, and why the changes could encourage businesses to pay out more dividends rather than reinvest in growth and innovation. From first-home buyers and entrepreneurs to downsizers and long-term investors, this conversation explores the behavioural consequences of tax policy — and whether a reform designed to improve affordability could ultimately distort investment decisions in ways the government did not intend. Episode Highlights 01:40 – Chris Brycki on the CGT Changes 05:16 – Should You Invest Your House Deposit? 07:53 – Where the Budget Got CGT Reform Wrong 10:14 – The CGT Trap: Gains Indexed, Losses Aren’t 15:08 – Why the New CGT Rules Could Crush Startups 21:25 – Should Capital Gains Be Taxed Like Income? 27:49 – Will CGT Changes Push Companies to Pay Dividends? 33:06 – How the New CGT Rules Affect ETFs 37:19 – When Tax Starts Driving Investment Decisions 43:08 – Could CGT Changes Push Money Back Into Property? 48:52 – Is Negative Gearing Really Only for the Wealthy? 51:44 – Why 1 July Valuations Could Cost You Thousands 55:06 – Could CGT Changes Discourage Downsizing? 58:18 – The Bigger Economic Consequences of CGT Reform About the Guest Chris Brycki is the founder and CEO of Stockspot , described as Australia’s first and largest digital investment adviser. Stockspot manages more than $1.5 billion for around 21,000 clients, many of whom are young professionals and families investing through diversified ETFs for goals including buying a home. Chris brings a direct view of how Australians are actually using investment markets to build wealth. He has been particularly vocal about the proposed CGT changes and their potential impact on investors, entrepreneurs, housing affordability and Australia’s economy. In this episode, he draws on his experience working with investors to challenge assumptions behind the proposed reforms, including Treasury’s modelling of share-market returns, the treatment of investment losses, and the incentives the new system could create for companies, investors and aspiring homeowners. Connect with Chris LinkedIn | Chris Brycki Website | Stockspot LinkedIn | Stockspot X | Stockspot Facebook | Stockspot Instagram | Stockspot Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

Australia knows it needs to build more homes. But if construction is already operating close to capacity, where will the extra housing actually come from? HIA senior economist Tom Devitt joins Veronica and Chris to unpack the constraints holding the industry back and why simply calling for more supply misses the complexity of getting homes built. The conversation covers skilled labour shortages, planning and approvals, land and infrastructure costs, construction productivity, prefab housing and the shift towards medium-density development. Tom also explains why Sydney and Melbourne have struggled to recover, while WA, Queensland and South Australia have performed more strongly. They also examine the fallout from changes to negative gearing and SMSF borrowing, including the risk that relatively small numbers of affected apartment sales could have a much larger impact on project financing. And with rental vacancy rates around 1%, Tom challenges the idea that investors are the problem, arguing that Australia needs more rental accommodation, not less. From stamp duty and development feasibility to the difference between the real estate market and the underlying housing market, this conversation gets into the structural issues that will determine whether Australia can actually close its housing supply gap. Episode Highlights 01:39 – Meet HIA Economist Tom Devitt 02:14 – Why Australia Still Can’t Build Enough Homes 04:13 – The Skilled Trades Shortage Holding Housing Back 07:01 – Why Construction Workers Are Being Pulled Elsewhere 10:35 – Prefab Won’t Solve the Housing Shortage Alone 13:08 – How the SMSF Ban Could Sink Entire Projects 17:03 – The Housing Finance Fallout From the SMSF Ban 19:36 – Are Buyers Losing Confidence in New Housing? 22:44 – Why Sydney and Melbourne Are Falling Behind 25:32 – Are We Really Measuring Construction Productivity? 30:46 – Why Builders Are Going Under Despite Strong Demand 34:17 – Why Some New Housing Simply Doesn’t Stack Up 36:59 – Why Medium-Density Housing Could Be the Sweet Spot 39:58 – The Housing Fundamentals That Eventually Win 41:44 – The Rental Crisis Needs More Investors, Not Fewer About the Guest Tom Devitt is a senior economist at the Housing Industry Association (HIA) , where he works on the economic conditions shaping Australia’s residential construction industry. His work includes analysing housing construction forecasts, industry capacity, labour shortages, planning constraints and the impact of government policy on new housing. Tom brings an industry-focused economic perspective to the housing supply debate, looking beyond headline targets to examine what actually determines whether a home gets built. In this episode, he discusses construction capacity, skilled trades shortages, development feasibility, planning reform, rental supply and the effects of recent policy changes affecting property investment and housing finance. Connect with Tom LinkedIn | Tom Devitt LinkedIn | HIA Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

The latest PIPA Annual Investor Survey reveals a significant shift in investor sentiment, with more investors considering selling amid changing tax settings, rising holding costs, interest rates and concerns about property values. Chris Bates and buyer’s agent Cate Bakos unpack what the survey reveals about investor behaviour and why grandfathering existing tax arrangements may not be enough to keep investors in the market. They explore what happens when established rental properties are sold to owner-occupiers, and why replacing that stock with new investment properties isn’t as straightforward as policymakers might assume. The conversation also examines rentvesting, the growing appeal of higher-yielding property, the risks of investors pivoting into commercial property without sufficient expertise, and whether build-to-rent can realistically address the gaps in Australia’s rental supply. With investor behaviour changing and rental demand remaining strong, Chris and Cate question whether housing policy is accounting for the full consequences of pushing private investors out of the market. Episode Highlights 01:28 – PIPA Survey: The Investor Shift Nobody Can Ignore 04:20 – Why Investors Are Selling Despite Being Grandfathered 08:38 – Why Investors Aren’t Switching to New Builds 13:00 – Why Long-Term Investors Are Reconsidering Property 18:53 – Where Investors Are Selling and Why 20:52 – Who Pays When Investors Leave the Market? 22:32 – Why Qualified Property Advice Matters More Than Ever 27:09 – Are Property Falls as Bad as the Headlines Suggest? 30:58 – The Borrowing Capacity Squeeze on Investors 35:12 – Why Build-to-Rent Won’t Solve the Rental Shortage 38:07 – Chasing Yield: The Risk of Pivoting to Commercial 42:19 – PIPA’s Push for Better Investor Advice and Standards 44:41 – Outro: Submit Your Questions About the Guest Cate Bakos is a former President of the Real Estate Buyers Agents Association of Australia (REBAA) and is closely involved with the Property Investment Professionals of Australia (PIPA) , where she advocates for investor education, consumer awareness and qualified property investment advice. She is also the Owner and Buyer’s Agent at Cate Bakos Property, bringing extensive experience working directly with property buyers and investors across the Australian market. Her frontline perspective gives her a practical understanding of how investors respond to changing market conditions, tax settings and property values. In this episode, Cate draws on that experience to unpack the latest PIPA Investor Survey, including why investors are selling, what happens to established rental stock when they exit, and why some investors are looking towards higher-yielding residential and commercial property. She also discusses the importance of qualified advice as investors navigate an increasingly complex property environment. Connect with Cate Website | Cate Bakos Property Phone - 03 7000 6026 Mobile - 0422 638 362 Email - cate@catebakos.com.au Socials: LinkedIn | Catherine Bakos Instagram | Cate Bakos Facebook | Cate Bakos Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

Australia’s housing reforms aim to improve affordability and help more Australians buy homes. But could they unintentionally make it harder to build new housing? In this episode, Richard Temlett, National Executive Director of Research at Charter Keck Cramer, explains the risks facing Australia’s property market. We discuss investor and SMSF changes, development feasibility, construction costs, planning delays and why approved projects don’t always become completed homes. Richard also explores the potential impact on Melbourne and Brisbane apartments, the rise of build-to-rent and social housing, and why reducing investor demand doesn’t automatically create more affordable housing. With Australia’s housing crisis driven by population growth, planning restrictions, taxation and limited social housing, Richard argues that there is no single solution. Addressing the crisis will require long-term coordination between governments, developers, financiers and the broader industry. Episode Highlights 01:41 – Meet Richard Temlett: Inside Australia’s Housing Crisis 05:17 – Why SMSF Changes Could Hit New Housing Supply 08:18 – Why Housing Uncertainty Is Freezing Buyers 11:13 – Why Build-to-Rent Could Be a Housing Winner 18:11 –The Hidden Risks Developers Are Carrying 25:30 – Can Australia Actually Fix Its Housing Crisis? 27:03 – Why More Housing Supply Is So Hard to Deliver 31:50 – How Politics Is Reshaping Australia’s Housing Supply 37:12 – Why Investor Changes Could Reshape the Rental Market 39:31 – Why Australia’s Construction Industry Is So Unproductive 44:43 – Why Property Needs More Policy Certainty 48:02 – Why Politics and Property Run on Different Timelines 51:26 – The Case for a National Housing Reset 54:16 – The Housing Crisis: What Needs to Change Next? About the Guest Richard Temlett is the National Executive Director of Research at Charter Keck Cramer , where he specialises in data-driven, evidence-based research to guide property development and investment decisions across Australia. With extensive experience analysing residential property markets, Richard works closely with developers, financiers and government to understand the economic, planning and market forces shaping Australia’s housing supply. His work focuses on turning complex market data into practical insights about development feasibility, housing demand and the factors influencing where and what gets built. Richard is also the host of Precisely Property and a regular industry speaker, sharing his research and perspective on the challenges facing Australia’s property market. A former lawyer, he holds a Bachelor of Laws from Flinders University and a Master of Business from RMIT. In this episode, Richard brings that research-driven perspective to one of Australia’s biggest challenges: how to increase housing supply without creating policies that unintentionally make new development harder to deliver. Connect with Richard LinkedIn | Richard Temlett LinkedIn | Charter Keck Cramer Website | Charter Keck Cramer Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

For decades, the path to building wealth in Australia seemed relatively straightforward: buy your home, purchase an investment property, use negative gearing to help manage the cost, and eventually focus more heavily on superannuation. But with changes to negative gearing, capital gains tax and investment structures on the horizon, that traditional strategy is becoming much harder to follow—especially for Australians starting from scratch. So what does financial advice look like now? In this episode, James Wrigley from First Financial joins Veronica and Chris to unpack how the new tax environment is changing the way Australians build wealth. James explains why some clients in their 40s are now being encouraged to put substantially more money into superannuation than they would have previously, while still maintaining money outside super for flexibility. The conversation goes well beyond property. We explore what higher capital gains tax means for shares and ETFs, why automatically rebalancing funds can create additional capital gains, how the proposed changes could affect family trusts and bucket companies, and why some investors may eventually move towards investment company structures instead. We also look at whether property still makes sense when negative gearing becomes less attractive—and why upgrading or renovating your own home could become a more compelling alternative. For younger Australians, James also discusses the First Home Super Saver Scheme and why it could receive more attention as the investment landscape changes. For older Australians, the conversation turns to retirement, investment property sell-down strategies and the growing trend towards "giving while living" as wealth transfers between generations earlier. The message throughout is clear: higher taxes may change the maths, but they shouldn't become an excuse to stop investing altogether. Episode Highlights 01:49 – How the Budget Changes Financial Advice 05:19 – Why Super Has Become Plan A 07:33 – Why Trusts Are Losing Their Appeal 10:09 – Division 296: What the $3M Super Rule Means 15:15 – Why CGT Makes Investing More Complicated 19:44 – Will Higher CGT Kill Investment Aspiration? 24:24 – Why Property Still Has a Contrarian Case 28:09 – Could Upgrading Your Home Beat Buying Property? 31:13 – Why Fear Could Keep Sellers Off the Market 36:24 – When Should Investors Sell Before Retirement? 38:08 – Why the First Home Super Saver Scheme Matters 44:38 – Why Parents Are Choosing to Give Wealth Earlier 46:58 – Are Trusts and Bucket Companies Dead? 48:13 – Why Investment Companies Could Replace Trusts About the Guest James Wrigley is a financial adviser at First Financial and the author of Retire Life Ready . He has worked in the superannuation and financial advice industry for more than 20 years, including more than a decade as a financial adviser. James is known for breaking down complex financial concepts into practical insights, with hundreds of thousands of Australians following his educational content online. In this episode, James brings a practitioner's perspective to the latest tax changes, drawing on the real conversations he is having with clients across different stages of wealth creation—from people in their 40s who had planned to buy investment properties, to retirees reconsidering their property holdings and families looking at how to transfer wealth to the next generation. Connect with James LinkedIn | James Wrigley LinkedIn | First Financial Website| First Financial Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

Will taxing property investors actually make housing more affordable—or simply change who owns the homes? Australia's housing affordability crisis is real, but the political response to it is anything but straightforward. In this episode of The Elephant in the Room , Veronica Morgan and Chris Bates sit down with Senator Andrew Bragg, Shadow Minister for Housing and Homelessness, for a robust discussion about Labor's changes to negative gearing, capital gains tax and property investment. Andrew argues that Australia's biggest problem isn't simply who owns property or how much tax investors pay—it's that we're not building enough homes. The conversation digs into the unintended consequences of restricting investment, the impact on housing supply, the role of SMSFs, the 5% deposit scheme, migration and whether government policies are inadvertently pushing people towards different forms of leverage. But criticism is only half the conversation. Veronica and Chris push Andrew on what should happen instead, exploring infrastructure funding, construction productivity, skilled migration, planning and regulation, the National Construction Code, tax incentives for new builds and ways to encourage more housing supply. Andrew also outlines three Coalition housing policies: an infrastructure fund, a housing and migration pledge, and a recalibration of the National Construction Code. If you're an investor, homeowner or aspiring buyer trying to understand where Australia's housing market is heading, this is a conversation worth hearing. It cuts through the political slogans and asks the harder question: are we actually fixing the housing problem—or simply moving the pieces around? Episode Highlights 01:34 – Why Andrew Bragg Thinks Housing Reform Is Backwards 04:13 – Will Taxing Investors Reduce Housing Supply? 08:48 – Why Andrew Bragg Opposes the SMSF Property Ban 12:13 – Is Superannuation Limiting Your Investment Choices? 17:54 – Andrew Bragg's Plan to Get More Homes Built 19:46 – Can Migration Keep Rising Without More Housing? 28:29 – Can Canberra Actually Force States to Build? 31:55 – Could Falling Property Sales Blow a Hole in State Budgets? 35:05 – Should Australia Open Up to Foreign Housing Investment? 38:51 – Could Tighter Lending Be Locking Buyers Out? 42:22 – Is Australia's Housing Crisis Fuelled by Bad Policy? About the Guest Senator Andrew Bragg is the Shadow Minister for Housing and Homelessness and a prominent voice in Australia's housing and economic policy debate. He has been deeply involved in scrutinising Labor's changes to negative gearing, capital gains tax and SMSF property investment, while also helping develop the Coalition's alternative housing agenda. Before entering politics, Andrew worked at Ernst & Young, the Financial Services Council and the Business Council of Australia , giving him extensive experience across financial services, taxation and economic policy. He has also written about Australia's superannuation system, bringing a broader perspective on wealth creation, investment and retirement policy. In this episode, Andrew brings that policy background to one of Australia's most contentious issues: how to improve housing affordability without undermining investment and supply. He makes the case for reducing construction costs and regulation, increasing building productivity, recalibrating migration and making housing development more economically viable. Connect with Sen. Andrew Andrew Bragg - Liberal Party of Australia Instagram | Andrew Bragg Website | Senator Andrew Bragg LinkedIn | Senator Andrew Bragg YouTube | Senator Andrew Bragg TikTok | Senator Andrew Bragg X (Formerly Twitter) | Senator Andrew Bragg Facebook | Senator Andrew Bragg Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

With the 2026 Federal Budget reshaping tax incentives and many investors questioning whether traditional buy-and-hold strategies still make sense, where should property investors be looking next? In this episode, Veronica Morgan and Chris Bates are joined by property developer and educator Michael Tiemens to explore why small-scale property development is becoming an increasingly attractive strategy for investors seeking to build wealth through value creation rather than relying on market appreciation alone. Michael explains how subdivision and development can manufacture equity, while also highlighting the discipline, due diligence, and strategic thinking required to make these projects successful. Together, they unpack the realities behind successful development—from identifying the right sites and understanding buyer demand to conducting rigorous feasibility studies and managing finance, planning, construction, and market risks. They also challenge one of the biggest misconceptions in property investing: that tax benefits should drive investment decisions. Instead, the conversation focuses on building resilient investment strategies based on sound fundamentals, long-term thinking, and careful risk management. Whether you're an experienced investor looking to adapt to Australia's changing tax landscape or you're considering your first development project, this episode offers practical insights into how small-scale development can fit within a smarter, more sustainable property investment strategy. Tune in to discover why creating value—not simply waiting for capital growth—could be the key to building long-term wealth. Episode Highlights 01:28 – The Budget Changes the Property Investment Game 05:59 – Why Tax Shouldn't Drive Your Investment Strategy 13:03 – What Happens When a Development Goes Off Track? 18:58 – Buy Low, Create Value, Sell Smart 21:15 – How to Negotiate a Better Development Deal 23:56 – Build What Buyers Actually Want 25:36 – The Battleaxe Block Objections Developers Face 26:58 – Why Backyard Living Could Drive Buyer Demand 28:59 – Why Property Fundamentals Matter More Than Tax 32:20 – Can Partnering With Landowners Make Development Easier? 36:27 – The Risks Developers Need to Spot Before Buying 40:36 – Why Patience Could Be a Developer's Biggest Advantage 43:08 – How to De-Risk a Property Development Project 50:20 – Designing Developments Around Real Buyer Demand About the Guest Michael Tiemens is a property developer, educator, and founder of Develop Coach , where he helps aspiring and experienced investors navigate the complexities of small-scale property development. After building his own portfolio through subdivision and development projects, Michael has dedicated his career to teaching investors how to create wealth by manufacturing equity rather than relying solely on market appreciation. Drawing on years of hands-on experience, Michael specialises in development feasibility, site selection, subdivision strategy, and risk management. He is passionate about helping investors understand the commercial realities of development, equipping them with practical frameworks to assess opportunities, avoid costly mistakes, and make informed investment decisions in an evolving property market. Through his coaching, education, and real-world project experience, Michael has helped hundreds of investors develop the knowledge and confidence to approach small-scale property development with greater discipline, clarity, and long-term strategic thinking. Connect with Michael Instagram | Michael Tiemens LinkedIn | Michael Tiemens Website | H.CO Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

The buyer’s agent industry has exploded in popularity, attracting new clients and new operators alike. But rapid growth has exposed a deeper problem: experience takes years to build, while a buyer’s agent business can be launched much faster. In this episode, Bryce Holdaway joins Veronica and Chris to unpack the growing standards problem facing buyer’s agents. They explore the experience gap among new entrants, the risks of borderless investing without genuine local expertise, and what happens when marketing skills outpace due diligence and property-buying skills. They also challenge the industry’s obsession with “off-market” opportunities and silver-bullet strategies. Bryce argues that parts of the buyer’s agent industry may have contributed to recent government intervention, while Veronica reflects on how poor practices have damaged the trust the profession once enjoyed. So what actually makes a good buyer’s agent, and how does the industry rebuild consumer trust? This conversation is a candid look at where buyer’s agency is heading, what needs to change, and why the next generation of professionals needs to get serious about the craft—not just the marketing. Episode Highlights 02:04 — Why Did Bryce and Veronica Join Forces Again? 06:43 — Can Regulation Really Fix Buyer’s Agency? 09:14 — Is Marketing Getting Ahead of the Craft? 11:22 — Why You Can’t Fake Local Market Expertise 16:09 — Who Pays When Buyer’s Agents Lack Experience? 19:12 — Could the Budget Be Good for Buyer’s Agency? 24:15 — Stop Copying Others: Find Your Own Differentiation 27:41 — Why More Information Isn’t the Answer 30:19 — Why Good Buyer’s Agents Need to Say No 33:42 — Why Community and Accountability Matter 35:14 — Where Are You: Start, Grow or Scale? 38:12 — The Skills Buyer’s Agents Will Need Next 43:30 — Is “Snake Oil” Damaging Buyer’s Agency? 47:42 — Rebuilding Trust in the Buyer’s Agent Industry 51:36 — What Needs to Change From Here? About the Guest Bryce Holdaway is a buyer’s agent, property expert, author, speaker, television presenter and business executive with decades of experience in Australia’s property industry. Originally trained as an accountant in Perth, Bryce discovered an interest in property while working with investment property clients before making the move into buyer’s advocacy and building a career focused on helping Australians make better property decisions. Over his career, Bryce has built significant experience across property investment, buyer’s advocacy and business growth, including building a business with more than 130 staff and over $25 million in revenue. His experience spans investor-focused and owner-occupier property buying, interstate markets, team development and the systems required to build a sustainable property business. Bryce has now reunited professionally with Veronica through Buyer’s Agent Mastery, an initiative focused on helping buyer’s agents strengthen their skills, businesses and client outcomes. Their aim is to bring greater leadership and professional standards to a rapidly growing industry while helping the next generation of buyer’s agents learn from the experience of those who have already built long-term careers in the field. Connect with Bryce LinkedIn Facebook Instagram Website Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

Selling a property in a slower market is less about timing the market and more about understanding where your property truly sits within it. In this episode, Veronica and Chris unpack why so many sellers fall short of their expectations, from unrealistic price hopes to choosing the wrong approach when it comes time to sell. They explore how quickly conditions can shift, and why clarity around your property’s position is one of the most important steps in achieving a strong result. The conversation dives into what separates A-grade properties from those that struggle when buyer demand softens, and why emotional decision-making can quietly cost vendors thousands. Veronica and Chris also discuss the importance of independent advice, and how it can help homeowners avoid common traps that show up during the selling process. From there, they look at the realities of upgrading in today’s market—whether it’s better to buy first or sell first, and how to manage the risks when you’re trying to do both. They also break down practical considerations like pricing strategy, owner-occupier demand, renovation potential, and why some properties consistently hold their appeal across different market cycles. A key theme throughout is the importance of thinking ahead—understanding resale value and buyer perception long before a property ever hits the market. Whether you're preparing to sell, planning your next move, or reviewing your long-term property strategy, this episode is packed with grounded, real-world insights to help you make more confident decisions. Hit play to learn why smart planning—not market timing—is what really drives better property outcomes. Episode Highlights 03:45 – The Sale That Cost More Than Expected 08:29 – Why Property Flaws Matter More in a Slow Market 14:20 – The Buyer–Seller Standoff Slowing the Market 24:50 – Should You Sell First or Buy First? 29:07 – How to Reduce Lending Risk When Upgrading 32:04 – Why Pressure Leads to Expensive Property Mistakes 38:31 – The 'Frog in the Pot' Trap for Property Sellers 43:28 – When Bad Auction Advice Costs You Thousands 53:45 – Knowing When to Walk Away From a Sale 56:35 – Why More Investors Are Selling Interstate Properties About the Host Veronica Morgan is one of Australia’s most respected property experts, with decades of experience spanning property investment, buyer advocacy, market analysis, and consumer education. As the co-host of The Elephant in the Room and co-founder of Homebuyer Academy, Veronica is known for her evidence-based approach to property investing and her ability to cut through industry hype with clear, strategic insights. Having worked through multiple property cycles, she specialises in helping buyers understand the long-term drivers of capital growth, asset selection, and risk management in an increasingly complex housing market. Chris Bates is the founder and CEO of Alcove, an award-winning mortgage broking and property advisory firm that helps Australians make smarter financial and property decisions. With deep expertise in lending strategy, borrowing capacity, debt structuring, and cash flow management, Chris works closely with first-home buyers, owner-occupiers, and investors navigating changing market conditions. He is widely recognised for his analytical approach to property and finance, as well as his willingness to challenge conventional wisdom and hype-driven investment narratives. Together, Veronica and Chris bring a rare combination of on-the-ground property expertise and real-world lending insight. Their conversations blend macroeconomic analysis with practical strategy, helping listeners better understand not just what is happening in the Australian property market—but why it matters and how to respond intelligently. Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

Australia's latest housing policies are designed to make home ownership more accessible—but are they creating unintended consequences for investors, renters, and the broader property market? In this episode, property data expert Kent Lardner returns to examine what the numbers are already revealing about investor behaviour following the Federal Budget, and why the government's expectations may not match reality. Drawing on decades of experience analysing suburb-level property data, Kent explains why many investors are unlikely to rush into newly built properties despite generous tax incentives. Instead, many may simply sit on the sidelines, waiting for political uncertainty to settle, while established investment properties gradually disappear from the rental pool. The conversation explores why cash flow alone rarely drives successful investing, how inventory levels tell a very different story from headline listings data, and why inner-ring suburbs across Sydney and Melbourne may prove far more resilient than many expect. The discussion also dives into the changing behaviour of buyer's agents, the rise of "spreadsheet investing," Brisbane's slowing momentum, and the lessons Australia may be able to learn from New Zealand's recent property market correction. Along the way, Veronica, Chris, and Kent challenge some of the biggest assumptions currently dominating the housing debate—including whether encouraging investors into new developments will actually improve affordability. Whether you're an investor, buyer's agent, homeowner or simply trying to understand where Australia's property market is heading next, this episode offers a data-driven perspective that cuts through the political headlines and focuses on what the numbers are really saying. Episode Highlights 02:20 Will the Budget Really Change Investor Behaviour? 05:37 The Supply Problem Nobody's Talking About 07:03 Are Buyer's Agents Chasing the Wrong Strategy? 12:13 What Happens When Investors Leave the Market? 25:42 Why Listings Don't Tell the Whole Market Story 30:54 The Truth About Investor Demand Right Now 33:02 Why Buyers Disappear in Falling Markets 35:32 Why New Builds Aren't Winning Investors Over 41:21 Which Cities Still Offer the Best Opportunities? 45:21 Where Investor Demand Could Create Future Risks 47:43 Final Thoughts & Your Property Questions Answered About the Guest Kent Lardner is one of Australia's most respected property data analysts , bringing more than three decades of experience interpreting housing market trends at both macro and suburb level. Best known for helping investors, researchers and property professionals understand what lies beneath headline statistics, Kent has built a career transforming complex data into practical market intelligence. Throughout his career, Kent has contributed to some of Australia's most influential property data platforms, including CoreLogic, and has become widely recognised for his expertise in market cycles, housing supply, inventory analysis, rental trends and statistical modelling. His work has helped shape how property professionals assess investment opportunities beyond median prices and broad market averages. Today, Kent continues his research through Founded, where he analyses housing market dynamics, investor behaviour and emerging trends across Australia. His evidence-based approach and ability to challenge conventional wisdom have made him a trusted voice for anyone seeking a deeper understanding of the property market. Connect with Kent LinkedIn | Kent Lardner Website | Suburbtrends Instagram | Kent Lardner Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

Negative gearing is one of the most divisive topics in Australian property—and few people are willing to have a genuine conversation about it. In this episode, Chris Bates and Veronica Morgan sit down with renowned economist Saul Eslake to explore one of the biggest policy debates in housing, challenging long-held assumptions on all sides of the argument. Rather than debating who's right or wrong, the conversation unpacks the economic principles behind negative gearing, the capital gains tax discount, and why tax policy shapes where Australians choose to invest. Saul explains why he believes a more neutral tax system would create a fairer economy, while Chris and Veronica question what the proposed reforms could mean for housing supply, investor behaviour, rents, and affordability. The discussion extends well beyond property tax. They examine Australia's reliance on mum-and-dad investors, the role of institutional investment and social housing, why encouraging new housing supply matters, and whether Australia has become too dependent on property as a wealth-building vehicle. Along the way, they tackle productivity, government policy, and the difficult trade-offs involved in creating a housing system that works for both investors and aspiring homeowners. Whether you agree with Saul's views or not, this episode offers a rare opportunity to hear a respectful, evidence-based discussion between people who don't always see eye to eye. If you've ever wondered whether negative gearing really solves—or contributes to—Australia's housing challenges, this conversation will give you plenty to think about. Episode Highlights 01:34 – Meet Saul Eslake 05:30 – Why Property Beats Startups on Tax 10:56 – The CGT Discount Explained 14:45 – Challenging the Case for Tax Reform 16:42 – Does Negative Gearing Increase Supply? 18:12 – Do Tax Incentives Really Build More Homes? 23:07 – Who Wins, Who Loses Under Tax Reform? 28:56 – The Unintended Consequences of Reform 31:46 – Has Australia Become Addicted to Property? 34:44 – Why Social Housing Keeps Falling Short 38:32 – What Happens If Investors Leave? 41:24 – Can Supply Incentives Really Work? 45:36 – Why Cheap Apartments Are Disappearing 49:06 – Is Australia's Tax System Really Fair? 54:02 – What's Behind Australia's Productivity Slump? 59:04 – Why Higher Inflation May Be Here to Stay About the Guest Saul Eslake is one of Australia's most respected independent economists , with decades of experience analysing the Australian economy, public policy, housing markets and taxation. Throughout his career, he has served as Chief Economist for ANZ Bank and Bank of America Merrill Lynch Australia, while also advising governments, businesses and industry organisations on economic policy and reform. Known for his evidence-based approach and willingness to challenge conventional thinking, Saul is a leading voice on issues including housing affordability, taxation, productivity and Australia's long-term economic future. His commentary regularly appears across Australia's major media outlets, where he helps translate complex economic issues into practical insights. Connect with Saul LinkedIn | Saul Eslake Website | Saul Eslake YouTube | Saul Eslake Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

Borderless property investing has become one of the fastest-growing strategies in real estate—but is it helping investors build wealth, or simply making it easier to sell property at scale? In this episode, we are joined by buyer's advocate and negotiation expert Scott Aggett to unpack the rise of borderless buyer's agents and the risks investors need to understand before buying interstate. With proposed changes to negative gearing and capital gains tax reshaping the investment landscape, we examine whether high-volume, data-driven buying models are still fit for purpose, and why relying on market trends alone could leave investors exposed when it's time to sell. Together, we explore the importance of due diligence, local market expertise, and having a clear exit strategy before purchasing an investment property. The conversation also tackles the growing role of AI in property research, the limitations of data-driven investing, buying sight unseen, and why choosing the right adviser may be just as important as choosing the right property. Whether you're considering your first investment property or expanding your portfolio across Australia, this episode will challenge some of the industry's biggest assumptions and help you build a smarter, more resilient property investment strategy. Episode Highlights 00:25 – Meet Scott Aggett: A Different Take on Property Advice 05:55 – Melbourne Units: Bargain Buy or Bad Investment? 08:21 – The Dangerous Side of Data-Driven Investing 14:57 – Property Horror Stories That Cost Investors Big 17:39 – Why the Budget Changed the Property Narrative 21:55 – Who's Regulating Buyer's Agents? 27:23 – Raising the Standard for Buyer's Agents 30:20 – AI Won't Replace Property Expertise—Here's Why 37:41 – The Investor's Dilemma After the Budget 41:31 – Four Strategies for Today's Property Investors 44:49 – Where Smart Investors Should Be Looking Next 49:49 – Why Portfolio Hype Can Hurt Your Wealth About the Guest Scott Aggett is a buyer's advocate , negotiation specialist , and property professional with extensive experience representing buyers across Australia's property market. Having worked on both the selling and buying sides of real estate, Scott brings a unique perspective on how properties are marketed, negotiated, and ultimately purchased. Through his work with Green Shoots , Scott has built a reputation for strategic advice , rigorous due diligence , and skilled negotiation , helping clients make informed property decisions rather than simply facilitating transactions. His approach combines practical market knowledge with a strong focus on protecting buyers from costly mistakes in an increasingly complex property landscape. In this episode, Scott shares his insights on the rise of borderless buyer's agents, the evolving role of AI in property investing, and why long-term thinking, local expertise, and professional due diligence remain essential for successful property investment. Connect with Scott LinkedIn | Scott Aggett Website| Scott Aggett Website | Green Shoots Property LinkedIn | Green Shoot Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

For years, Australia's housing crisis has been framed as a simple supply problem: cut planning red tape, approve more developments, and housing affordability will improve. But what if we've been solving the wrong problem all along? In this episode, urban economist and town planner Tim Sneesby joins Veronica Morgan and Chris Bates to challenge one of the most widely accepted narratives in Australian property. Drawing on his experience in planning, urban economics, and public policy, Tim unpacks why planning regulations may not be the primary barrier to housing delivery. Together, they explore why more than 100,000 approved homes in New South Wales remain unbuilt, what developer feasibility has to do with housing supply, and why interest rates, financial markets, and broader economic conditions may have a far greater influence on affordability than planning reform alone. The conversation also dives into the NSW Government's planning reforms, including low and mid-rise housing policies, transport-oriented development, and the growing debate between state-led rezoning and strategic local planning. Tim explains why blanket upzoning may not deliver the housing outcomes governments are hoping for, and why infrastructure, long-term planning, and genuine affordable housing should be part of the conversation if Australia is serious about tackling its housing affordability crisis. Whether you're a property investor, home buyer, industry professional, or simply trying to make sense of Australia's housing debate, this episode offers a fresh perspective on one of the country's biggest policy challenges. If you've ever wondered why housing remains so expensive despite years of planning reform, this conversation will challenge your assumptions and help you see the bigger picture. Episode Highlights 01:50 – Meet the Expert Challenging Housing Myths 08:56 – What's Really Driving House Prices? 16:47 – Is NIMBYism Really Blocking Housing? 19:55 – A Better Alternative to Blanket Rezoning 23:09 – The Affordable Housing Catch 30:46 – The Truth About Infill vs Greenfield 34:56 – Why Interest Rates Matter More Than Supply 36:26 – What Really Drives Housing Demand? 39:02 – The Hidden Labour Crisis Behind Housing 43:00 – Why Equity Keeps Driving Property Prices 47:06 – Why Developers Can't Build Everything 49:04 – Why Approved Projects Never Get Built 52:09 – Is Australia's Housing Crisis Misdiagnosed? 55:49 – When Planning Reform Creates More Uncertainty About the Guest Tim Sneesby is an urban economist , town planner , and planning policy expert with extensive experience across local government, strategic planning, and urban economics. Having worked in both the public and private sectors, Tim brings a unique perspective to Australia's housing debate, combining practical experience in development assessment with a deep understanding of the economic forces shaping cities and housing markets. Currently serving as Manager of Town Planning at a Sydney council , Tim also teaches urban economics at the University of New South Wales and the University of Sydney. Recognised as a former Australian Young Planner of the Year, he is widely respected for challenging conventional thinking around housing affordability, planning reform, and urban policy through evidence-based analysis and practical insight. Passionate about creating better cities and better housing outcomes, Tim advocates for strategic planning that balances housing supply, infrastructure, affordability, and long-term community outcomes rather than relying on simplified policy solutions. Connect with Tim E-mail | Tim Sneesby Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

You're about to invest hundreds of thousands of dollars into building or renovating your home—but how much do you really know about the builder you're hiring? While most Australians compare quotes, browse reviews, and check licences, few dig deeper into the warning signs that could reveal financial instability, recurring disputes, or other hidden risks before signing a contract. In this episode, we sit down with Angus Luffman, founder of Trust Signal and one of Australia's pioneers in credit reporting, to explore why builder due diligence has become more important than ever. Angus explains how information already sitting in tribunal records, company histories, insolvency data, licensing registers, and insurance eligibility can paint a much clearer picture of a builder's track record—if you know where to look. Together, we unpack why builder collapses are rarely as sudden as they appear, the red flags homeowners and investors often overlook, and why construction remains one of Australia's highest-risk industries. We also discuss the emotional side of building, why consumers tend to skip proper due diligence, and the practical questions everyone should ask before committing to one of the biggest financial decisions of their lives. Whether you're building your dream home, renovating, or investing in your next property project, this conversation will help you approach the process with greater confidence, ask better questions, and avoid costly mistakes before construction even begins. Episode Highlights 02:03 – Why Builder Due Diligence Matters More Than Ever 05:37 – What Tribunal Records Can Reveal About a Builder 07:21 – Can You Predict a Builder Collapse? 09:27 – Phoenixing: The Warning Signs to Watch For 19:41 – Could Banks Help Prevent Builder Collapses? 21:27 – Renovating? The Insurance Mistakes to Avoid 24:42 – The Builder Red Flags Most People Miss 25:28 – The Insurance and Supplier Checks That Matter 28:35 – How to Read a Builder Due Diligence Report 33:11 – Why You Should Check Your Own Credit File 34:38 – Should Banks Check Builder Risk Too? 39:50 – Why the Cheapest Builder Can Cost You More 42:02 – Can More Regulation Fix the Building Industry? 45:34 – Builder Due Diligence in Plain English About the Guest Angus Luffman is the Founder and CEO of Trust Signal , a technology company helping Australians make more informed decisions before hiring a builder. With a career spanning more than two decades in data, credit reporting, and risk intelligence, Angus played a pivotal role in introducing Australia's first consumer credit score and has long been at the forefront of improving transparency through data. Today, Angus applies that expertise to the construction industry, bringing together information from builder licences, tribunal records, insolvency histories, insurance eligibility, and company data to help homeowners, investors, and industry professionals better understand builder risk before signing a contract. His mission is simple: empower consumers with the information they need to ask better questions, reduce uncertainty, and make smarter building decisions. Connect with Angus LinkedIn | Angus Luffman LinkedIn | Trust Signal Builder Website | TrustSignal Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

Most people assume property presentation is just about styling. But what if presentation is actually influencing how buyers perceive value—and what they’re willing to pay? In this episode, Veronica and Chris sit down with Peter Karaoglanis, founder of Presenting Homes Australia, to unpack the psychology behind property presentation. Peter explains why styling is only a small part of the equation and why understanding buyer behaviour, emotional decision-making, and perceived value can have a bigger impact on sale outcomes than many renovations. Together, they explore how buyers form emotional attachments to homes, why people struggle to visualise a property's potential, and the concept Peter calls "selling future memories." The conversation also tackles one of the industry's most controversial questions: where is the line between strategic presentation and "lipstick on a pig"? Peter shares his approach to cosmetic renovations, reveals the upgrades that consistently deliver the strongest return on investment, and explains why cleaning, paint, lighting, flooring, and presentation often outperform expensive structural renovations. Whether you're preparing to sell, looking to buy, or investing for the long term, this episode will change the way you think about value creation in property. Because sometimes the biggest driver of price isn't the property itself—it's how buyers experience it. Episode Highlights 01:23 – Meet the Man Behind Australia's Presentation Strategy 05:17 – Why Selling to Everyone Is a Mistake 08:41 – When Renovations Become Red Flags 14:11 – The Croydon Reno That Paid Off Big 18:21 – Why More Investors Are Selling Up 22:46 – Can Virtual Styling Fool Buyers? 23:50 – Virtual Styling vs Real Staging 24:41 – The Upgrades Investors Should Make Before Selling 26:10 – Why Buyers Struggle to See Potential 27:54 – Buyers Purchase Emotion Before Logic 29:26 – Are Agents Finally Getting Presentation Right? 30:06 – How Instagram Changed Buyer Expectations 32:08 – Does Styling Beat Market Competition? 34:00 – Peter's Three-Step Presentation Framework 35:07 – The Landscaping Upgrades Buyers Notice Most 37:13 – How Neighbourhood Appeal Impacts Value 38:30 – The Home That Became Too Good to Sell 39:55 – Final Thoughts and Listener Questions About the Guest Peter Karaoglanis is the founder of Presenting Homes Australia , a property presentation consultancy that helps homeowners, investors, and real estate professionals maximise property sale outcomes through strategic presentation, buyer psychology, and targeted cosmetic improvements. With a background spanning property sales, marketing, new home construction, and presentation strategy, Peter has spent decades studying how buyers perceive value and make purchasing decisions. Known for his philosophy that "styling isn't strategy," Peter focuses on helping clients improve presentation without unnecessary spending or overcapitalising. Through pre-sale audits, cosmetic renovation planning, and buyer-focused presentation strategies, he works to bridge the gap between a property's potential and how that potential is perceived in the market. Connect with Peter LinkedIn - Peter Karaoglanis Instagram - Presenting Homes Australia Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

Australia's housing crisis is usually framed as a simple supply problem: build more homes, increase density, and affordability will improve. But what if we've been asking the wrong question all along? In this episode, Ross Elliott joins Veronica and Chris to challenge some of the biggest assumptions underpinning Australian housing policy. From the belief that everyone works in a CBD to the idea that high-density housing is automatically cheaper, Ross argues that many of the planning principles guiding our cities are decades out of date. Instead of focusing solely on housing supply, he believes we should be asking whether we're creating places where people can actually live, work, and thrive. Together, they explore why Australia's population growth continues to concentrate in a handful of capital cities, why regional centres have been overlooked, and how decades of planning decisions have contributed to today's affordability challenges. They also unpack the unintended consequences of density-led housing strategies, infrastructure bottlenecks, planning delays, and whether recent government policies will actually increase housing supply or simply drive costs even higher. This conversation goes beyond property and politics to tackle a bigger question: what should Australian cities look like in the future? Whether you're a homeowner, investor, policymaker, or simply concerned about housing affordability, this episode offers a fresh perspective on one of the country's most important challenges. Episode Highlights 02:07 – The Biggest Myth in Australian City Planning 09:52 – Why Australia Needs More Than Capital Cities 15:19 – The Problem With Building Up Instead of Out 17:45 – Homes First, Infrastructure Later? 19:28 – What Australia's Best Communities Have in Common 22:44 – Are Investors Really to Blame? 27:09 – The Planning Bottleneck Nobody Talks About 34:11 – Running Out of Land? Not So Fast 43:16 – Brisbane's Growth Challenge Is Just Beginning 47:29 – The Hidden Cost of Apartment Living 49:48 – How Dumbo Became One of New York's Best Precincts 51:14 – What Great Cities Can Teach Australia 55:13 – Why the Best Cities Happen by Accident About the Guest Ross Elliott is one of Australia's leading voices on urban development , housing policy , and city planning . With almost four decades of experience spanning research, construction, development, infrastructure, and public policy, he has worked at the intersection of the industries that shape how Australian communities are built and governed. Ross is widely recognised for his contributions to urban policy and place-making, including his role as Chair of Brisbane's Better Suburbs Initiative , where he has helped drive discussions around suburban renewal, community development, and long-term city planning. Throughout his career, he has advised industry and government stakeholders on housing, infrastructure, population growth, and economic development. His work focuses on understanding how cities evolve and what is required to create communities that are not only affordable but functional, connected, and resilient. Ross brings a rare systems-level perspective to the housing conversation, examining the relationship between planning, infrastructure, jobs, demographics, and housing outcomes. Connect with Ross LinkedIn | Ross Elliott LinkedIn | Brisbane City Council Website | Brisbane City Council Resources Visit our website: https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au 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! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris