The Impact of US Economic Changes on Australian Property Trends - With Rockstar Turned Real Estate Expert - Craig Rosevear

The Impact of US Economic Changes on Australian Property Trends - With Rockstar Turned Real Estate Expert - Craig Rosevear

In this episode of Talk Property To Me, hosts Brad East, Aaron Downie, and Craig "Rosy" Rosevear dive deep into the evolving landscape of real estate, both in Australia and the United States. Craig shares his unique journey from being a professional musician with the Screaming Jets to becoming a successful real estate agent, highlighting how his experiences in the music industry led him to invest in property and eventually build a portfolio through home renovations and flipping.

Craig discusses his recent move to Los Angeles, where he has been setting up a real estate business in collaboration with old friends. He reflects on the differences in the real estate market between Australia and the U.S., particularly in terms of buyer behaviour and market dynamics. The conversation shifts to the current state of the U.S. real estate market, especially in light of a significant interest rate cut by the Federal Reserve—the first since the COVID pandemic. The hosts analyse the implications of this rate cut, noting that it could signal a shift in buyer confidence and market activity.

The episode also touches on the broader economic context, including concerns about the job market and consumer spending as the holiday season approaches. The hosts discuss how these factors might influence the Australian market, predicting potential interest rate cuts by the Reserve Bank of Australia in response to the U.S. changes.

Listeners gain insights into the current trends in both countries, including the movement of properties in different price brackets and the impact of renovations on property value. Craig shares anecdotes from his experiences in high-end Los Angeles properties, illustrating how the luxury market operates and the types of buyers attracted to these homes.

As the episode wraps up, the hosts emphasise the importance of being prepared for the upcoming changes in the market. They encourage potential buyers to get their finances in order and act swiftly, as the anticipated interest rate cuts could lead to increased competition in the housing market.

Join us for this engaging discussion filled with expert insights, personal stories, and valuable advice for anyone interested in navigating the real estate landscape in the coming months.

00:00:00 - Introduction and Background

Welcome back to Talk Property To Me. Introduction of hosts and Craig's background in real estate and music.

00:02:00 - Manufacturing Equity

Discussion on how renovating properties can create manufactured equity and the importance of understanding equity.

00:04:30 - Craig's Real Estate Journey

Craig shares his journey from musician to real estate agent and how he built a portfolio through flipping homes.

00:06:30 - Real Estate in the U.S.

Craig discusses his experiences setting up a real estate business in Los Angeles and the differences in the market.

00:08:30 - Impact of U.S. Rate Cuts on Australia

Analysis of the recent interest rate cut in the U.S. and its potential effects on the Australian market.

00:10:30 - Market Dynamics and Buyer Behaviour

Discussion on buyer behaviour in the U.S. market, including the impact of locked-in mortgage rates.

00:12:30 - Property Sales Trends

Insights into which price segments are moving quickly in the U.S. real estate market.

00:14:30 - Predictions for Interest Rates

Predictions on interest rate movements in both the U.S. and Australia, and their implications for buyers.

00:16:30 - Preparing for Market Changes

Advice for potential buyers on getting pre-approved and being ready to act in a changing market.

00:18:30 - Demographic Trends in Real Estate

Comparison of ageing populations and property turnover in Los Angeles versus Australia.

00:25:00 - Conclusion and Future Outlook

Wrap-up of the discussion with predictions for the property market in the coming years.

ABOUT THE HOSTS

BRAD EAST

Brad East is the Managing Director of Wisebuy Home Loans. Brad is an award-winning mortgage broker and has helped thousands of clients gain finance to purchase properties. Wisebuy Home Loans is the go-to mortgage brokerage for clients wanting out-of-the-box applications approved.

Website → https://wisebuygroup.com.au 

LinkedIn → https://www.linkedin.com/in/newcastlemortgagebroker/ 

Instagram → https://www.instagram.com/bradeast_mortgagebroker/ 

Facebook → https://www.facebook.com/bradeastofficial

AARON DOWNIE

Joining the podcast in 2024, Aaron Downie is a seasoned property investor and director of Mackenzie Buyers Agency. Aaron’s deep understanding of the property market and investment strategies provides listeners with invaluable insights.

Website: https://www.mackenziepropertygroup.com.au/

Linkedin: https://www.linkedin.com/in/aaron-downie-1b2749134/