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Ask The Experts: Episode 2 with Principal Buyer’s Agent Kellie Landrey  

Ask The Experts: Episode 2 with Principal Buyer’s Agent Kellie Landrey   1024 535 Fox & Hare

In the second episode of our Ask The Experts series, Glen sits down with property expert Kellie Landrey to discuss the state of the property market. 

One of the most popular topics of conversation we’re having with our members is about all things property. From questions about when to purchase an investment property to tips for finding tenants during a down market, our members are looking for guidance they can trust about how to navigate these uncertain times.  

We’re having a lot of conversations with our members about what the future looks like, particularly regarding the property market. Many of our members are asking us what the market opportunities will look like post September 2020 (particularly when the government support packages begin to wind back).  

To help point our members in the right direction, we called on property expert and Principal Buyer’s Agent at Scoutable Kellie Landrey to help explain what’s really going on in the property market. In Episode 2 of our Ask The Experts series, Kellie explains what the reliable property data reveals about the prospects for the market, her predictions for the end of 2020 and beyond as well as her tips for renters, first home buyers, first time investors and more. 

Although these live Ask The Experts sessions are available exclusively to our Fox & Hare members, we wanted to share some of Kellie’s top insights with the rest of our community. Want to learn more about becoming a Fox & Hare member? Click here to book in for a quick chat.    

Kellie’s insights and predictions for the market 

Right now, the headlines are making most of our members pretty pessimistic about the state of the property market. But what’s really going on? Kellie explains the shift we’ve seen in the past few months and how this has changed since the optimism we saw in late 2019. 

“A lot of people were predicting that we were going to have double digit growth in 2020,” explains Kellie. We were seeing really limited supply and people were rushing out to buy towards the end of last year. Basically, we were gearing up for the market to be quite strong.”  

However, things changed a few weeks ago. “Up until March when COVID-19 hit, that’s how we were tracking. Everything has pulled back since then, but not necessary as much as the media has been portraying it.” 

Kellie emphasises how important it is for everyone to look to trustworthy sources and not get lost in a sea of misinformation. “It important to look at the reliable facts and figures that are coming out. The main industry body that is providing the research data about Australian property is called CoreLogic. At the end of each month they release what the results have been for the market (including rentals, sales, stock listings, growth rates etc.),” Kellie explains.  

“If we look at CoreLogic’s April results report, the growth rate across Australia as a whole is at 0.3% in April and in March it was 0.7%. So, what we’re seeing is that the growth rate has halved, but we’re certainly not in massive negative territory.  

But we are seeing a significant decline in the volume of listings on the market, with Kellie noting “listings are down almost 40% from this time last year, which is huge. 

In terms of differences across different sections of the market, Kellie has seen a few interesting differences between the top and bottom of the market. “What we’re seeing is the upper end of the market ($3 million+) is having a higher reduction in pricing than the lower end of the market. The growth rate for the upper end were roughly around 6% last quarter, and they’ve halved to just 3%. In comparison, the lower end of the market ($500,000 to $1.5 million), it has seen a smaller movement,” explains Kellie. 

And when it comes to the big question of interest rates, Kellie shares her insights into what we can expect over the next few months and beyond. “I think it’s very unlikely that interest rates will increase significantly in the foreseeable future. The economy and market environment that we’re in just won’t support that kind of growth,” tell Kellie. 

With so much uncertainty, many of our members feel unsure what the future of the market looks like. But Kellie reminds us that this isn’t the first down period the property market has experienced. “We have been in recessions before and what always happens is when that period finishes, the market always goes up and recovers,” assures Kellie. 


Our top 3 takeaway points  

Although Kellie shared countless valuable insights into all things property, we wanted to break down our top takeaway points from this valuable conversation. So, what are the most important tips Kellie shared during our chat? 

  • Tip 1: Think about the long-term when considering whether to make a purchase.  

Kellie reminds us that it’s important to consider our personal circumstances and think about our property journey so far. “If you’ve found the perfect property right now, think about how long you’ve been looking for and what are the chances of the kind of property being on the market again.” 

If you’re doing your research and making a wise investment decision, your property purchase will most likely weather the storm (even if its value does drop a little bit in the short term). Even if you do experience levels of fluctuation in the next 12 months or so, the property’s value will recover over time,” tells Kellie.  

So that means if the external factors of your financial world (such as employment and financial security) are stable, and you find the right property now, there’s no need to wait until the end of the year to make a property purchase.  

  • Tip 2: Do your research to make sure you go into a purchase at the right price. 

One of Kellie’s best tips during our session was about doing practical market research before making an investment purchase.  

“The best way to assess stock levels is to jump online to a real estate website, check the suburb you’re looking to buy in and assess how many similar properties are available. Scope out your competition and see how these properties compare to yours in terms of quality, location and condition,” explains Kellie. 

And to help you purchase at the right price, make sure to do your research. “If you price your property accurately in terms of your competition, you’re more likely to secure a tenant. You might need to come in a little lower, but that means you’ll then make that reflect the price you’re willing to pay when purchasing.”  

  • Tip 3: Look at stock levels in your suburb to assess whether you’re making a wise investment decision. 

When it comes to finding the right investment property, it’s all about scouting out a property that is desirable and unique.  

“Look for a property that’s limited in supply. That means looking for styles of properties that you won’t find an abundance of in the same suburbs,” tells Kellie.  

“We want to look for a property that has access to public transport, retail amenities, and easy access to the CBD. That means the property will have good demand from tenants and good future demand for buyers when you eventually want to sell.” 


Keep an eye out on our social channels and upcoming newsletters for more information about our next Ask The Experts live Q&A session. Want to learn more about becoming a Fox & Hare member? Click here to book in for a quick chat.