The PROPERTY DOCTORS, Sydney Australia Novak Properties
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The PROPERTY DOCTORS, Sydney Australia Novak Properties
NOVAK NEWS -DECODING MEDIA HEADLINES: WHO SHOULD BUYERS TRUST IN A CONFUSING MARKET?
Unravel the mystery behind conflicting real estate headlines and uncover the truth about market trends with our enlightening discussion featuring Bidhan and Harry. Ever wondered why media reports paint a different picture every other day, especially when it comes to the Sydney real estate market? We promise you'll walk away from this episode armed with the knowledge to separate fact from fiction. Discover why consulting local real estate agents can provide clarity amidst the chaos and how these experts can offer tailored insights into neighborhood-specific trends that media often overlook.
Navigate the real estate landscape with confidence as we guide you through the art of filtering news for accuracy. Forget relying solely on sensational headlines; it's time to take matters into your own hands. Learn how to leverage powerful tools like CoreLogic, RP Data, and domain.com.au to empower your personal research and ensure your decisions are based on concrete data, not noise. Join us as we equip you with strategies to make informed, independent choices that align with your personal circumstances, cutting through the media confusion with precision and insight.
All right, here we are, live Monday 9, 8 pm. Bidan and Harry. Today we are decoding media news headlines who should buyers actually trust in this market and how to cut through the news Exactly? Stay tuned and we'll dive into it. All right, here we are. How are you, harry? Good afternoon, good evening, good evening, 8pm. Almost good night, how's?
Speaker 1:the day been today Busy, busyay monday day yeah, two weeks to christmas now, so it's still. Things are still moving around the corner. Yeah, we've got property still coming in, you know, for sale and rent, so things are still happening. But today here we talk about uh, you know the media as another social media.
Speaker 2:That's your topic, isn't actual news yeah unique.
Speaker 1:It's very controversial because we see, you know, they're covering lots of news from all over the world, yeah, and what they do actually publish. Now, the main reason we decided to talk about this today is recently one of the bigger, probably the biggest, news platform decided to talk about the real estate market. So what actually happened? They published a news saying, uh, the sydney market is cooling down a little, it's more of a buyer's market, you know, it's not having that a bit of a peak anymore. And then, four days later, the xxm news company posted this, another, another post saying, uh, syd Sydney market is booming right now. This has been the most golden time. So same news four days apart, completely different, completely different After four days. And we had this big chat as well. Like you know, how much does media have control over the market?
Speaker 2:And, as a normal, you know civilian, yeah, as a buyer in particular. Like you read that right, and then you go hang on a minute, four days ago, they said something completely different and, as a prospective buyer, like looking to buy, whether it's your first investment property, whether it's to add to your existing portfolio.
Speaker 1:Exactly.
Speaker 2:You look at them and go like, hang on, what's going on there? Do you know what I mean? Like? So it comes to a question what do you actually?
Speaker 1:trust who would you trust exactly? And so we thought we'll dive into this a bit more. And uh, with new channels and everything, it's all about viewers. For them, the more attention.
Speaker 1:They can listen to publicity right, because the more attention they get, the more people plug in there, the better it is. So they will have, like you know, headlines that is a bit high, catchy, like you know, sydney market going down or you in a camera, you know, markets all going down. This is the right time. So things like those, so the social media or the new channels, they will have those headlines to attract you.
Speaker 2:But what is the?
Speaker 1:actual truth and also something very interesting, harry. What I noticed is when, when they publish news, they talk about Sydney. Yes, sydney, greater, sydney is massive. Yeah, and if you want to know about your local in a real estate and local market, where do you go then?
Speaker 2:Those are two things.
Speaker 1:What are your thoughts there?
Speaker 2:Yeah, just to actually answer the topic, answer the question in general, like who would you actually trust? I would say that the very first person or thing that you'd go to would be your local agents guys, because they actually understand the micro trend, what's happening on a day-to-day basis. They just understand and they can also offer you tailored advice to you as a prospective buyer on the actual market. Because we're monitoring the market, you know, I would say 24 hours a day, but majority of the day we're on, we're on top of things, like we're seeing what's happening in the market, just just just the common trends exactly.
Speaker 1:It's basically like you know your neighborhood. Yeah, if you're living in a particular street, you know, if you know the lawn has been worn in the whole street, you know if a new plant has gone there or new you know lamppost has been there, like you would know every single detail there because you are there living day in there. Just like that. With real estate market as well, your local agent is your best source, like if you want to know more about it. Don't just trust the articles and the news that they published. Like it's like a bit of a you know majority thing, yeah, the majority of sydney and the data that they get might not be true as well.
Speaker 1:Sure, you know, with auction, mostly with auction clearance, right, I see this and I you know it kind of say, because not every uh result is published and for uh, for us, most of the property that we take into auction they either sell beforehand or they sell the day after. So that fluctuates the auction clearance rate a bit more and they base everything up in there. So that was in a lack of little. That's definitely not true. So a buyer is, I think the best thing is to follow your local agent. That's pretty much the best way.
Speaker 2:I would also like to jump on that. I just have the second point and I think this is actually a much stronger point because it's a lot more accurate is the big I would say the big institutions like that on the internet, like CoreLogic, your RP Data, your domain, ignite, real Estate, like all of these are such strong tools and you can find out so much more information than just logging on realestatecom and seeing what's what's um for rent, what's what's um, what's being bought, um.
Speaker 2:It offers you so much, so much more tools. You can just actually monitor market trends more often, um, and more accurately as well, and I think it gives you a better, better insight as to know what the market's doing. If you want to focus on particular suburbs, and you know you can deal to so many options, and it just gives you access to, you know, a completely different that is very true space. So definitely the big institutions, rp data would probably be the biggest one, and then you know, followed by your ignite, your domain, all those ones as well.
Speaker 1:Well, happy data actually has a instagram and facebook profile as well from corelogic so if you don't want to, you know, go online all the time, look into those, just follow them like it's not like we're sponsoring this video or anything but like that's true data because in the core logic is the most trusted data in australia and they post pretty much almost every day yeah about you know what the market is doing with all the stats.
Speaker 1:Those stats are not very easily and readily available. Someone's worked hard on their double-checking everything and it's published there, with realestatecom as well. If you scroll a bit at the bottom, there's a lot of articles. You can go through all that they actually break it down. What's happening in the market, being the number one in a platform in Australia, they have and they have to be, you know, on point. They can't just you know bluff that's it, yeah so I think that that has been.
Speaker 2:That will probably a bigger source yeah, also the third one, from from the top of my head, I would say just your basic observation and just attending auctions, attending open inspections and actually physically seeing the property, seeing the numbers, the groups that go in, and then just actually um, just observing the properties, um in general, physically, I think that's, that's also gives you a better understanding you know, go go to multiple every wednesday, every saturday most agencies um on the northern beaches in sydney we're doing open inspections um, starting from nine, nine, ten o'clock in the morning, um.
Speaker 2:So it gives obviously if you, if you're a prospective, buyer or a prospective tenant. That gives you.
Speaker 1:You know a lot more, um a lot more you know observation exactly okay and, like the news, affect the people a lot too like last day in particular, we noticed, you know how the interest rate was going up and down and we would see when the in the news would publish. Let's say, our interest rate might come down. Let's see what happens. The meeting is next tuesday and all of a sudden the whole week would go quiet.
Speaker 2:Yeah like in open homes, we would see a big drop of numbers and we'd come what.
Speaker 1:What happened? Yeah, and the news would then publish our interest rate rate down and hold it's a buyer's market all over again. And then bam, Open numbers are off the charts.
Speaker 2:I think a lot of people don't understand how the property market is cyclical. It's always fluctuating guys nonstop. It's not like it goes through one phase and it stays at that one phase, even when the interest rate's coming down. Hopefully we can see an interest rate cut in the near to come. Interest rates are coming down. It's not like the market goes and stays in one direction it's always cyclical. It's always fluctuating um. It never goes and stays in one direction for a long period of time very true.
Speaker 1:There can't be any. You know better, better kept than that. And also, at the end of the day, it's only the buyers controlling the market, because if the buyer is not paying that amount, like people say, oh, you know, the real estate agent did this, the owners were asking for this.
Speaker 2:But at the end of the day.
Speaker 1:if the buyers are not paying that figure, they won't get it. That's it. So you know, at the end of the day it's the buyer's market overall. Correct, if I have an Apple and I say it's $10, only worth five again the buyers will pay.
Speaker 2:You know he's gonna. He's gonna dictate how much exactly the apple goes for.
Speaker 1:You know exactly yeah, so there are multiple things. So, yeah, as we mentioned, we should you know, with the news filter, filter what you want to take. Not 100 is true, and I think your local real estate is probably the you know, do your own research guys.
Speaker 2:Yeah, do your own research. Don't don't, don't. Don't read news articles and just assume that they're going to be 100% accurate. Do your own research, excuse me, do your own research, do your own observations, etc. And just make sure that you know whatever decision that you make is purely 100% your own doing and you're not reliant on any other trend news article etc.
Speaker 1:Exactly. And at the end of the day, it's all predictions. No one actually knows if the market's going up or market's going down. Educated, yeah, very much. There you go. So it's all predictions. It might happen, might not happen. It's a matter of fact of who you trust and who you don't. There you go. So it's all prediction. It might happen, might not happen. You know, it's matter of fact of what you know, who you trust and who you don't. You can trust your next door neighbor. You can trust your mom and dad, who are that with your best interest. But the moment that and you're in a cousins or family will help you out from the the knowledge of 10 years back when they bought the property. Yeah, so that's the times, time and real estate. They change every month. In here three weeks ago, northern Beaches, we had 975 properties for a sale.
Speaker 1:Right now we're at 600.
Speaker 2:That's a big jump. That's a very big jump. That's a very big jump when you think about it.
Speaker 1:So it's spring, it's the busiest time, and just Novak.
Speaker 2:Novak itself, I would say about five weeks ago it was like we had six properties for rent with Novak Very, very quiet, almost no open inspections for Wednesdays and Saturdays. And then five weeks later, christmas coming, we've got over 20 properties sitting for rent, or around 20 properties, and that's just over a month. We've got quadruple the amount of properties coming. Definitely More to come too.
Speaker 1:Even at Christmas today, we had like three new properties coming in. So like properties do come through, sir. Yeah, people think Christmas is coming by in everyone's, everyone's on holiday and although so that news will focus more on Christmas, everyone's going away for a holiday, yeah, but you know people are still working, properties still coming, properties still selling, so things are still happening. So at the end of the day, uh, like I mentioned, your local research agent probably best, and everyone has social media these days so you can, you know, give them a quick poll alert and you know they can quickly give you a rundown of what's happening.
Speaker 1:Or, you know, pick up the phone and give them a call about videos. Yeah, watch more of my videos more of these live streams.
Speaker 1:So, yeah, you can always give your local reserve a call. Uh, I mean, even for us in the real northern beaches, so you can always give your local reserve a call. Even for us we're in Northern Beaches, so you can always give us a call. If you need any help or any questions with anything, we're always happy to give you a rundown. And yeah, I think that's pretty much it from my end. Anything else, eric, I think that's it All right, cool, that's pretty much it over and out from our end. And yeah, like I mentioned, uh, any details you need, we are always here 24, 7 and over and out. Have a good night guys. Good night guys. See you later.