Tassie, A Wheely Good Treechange
Aaron 0:12
Alright guys, welcome back to the property pod. You're accessible and easy to listen to podcast about the real estate game. I'm your host Aaron Horne, and I'm joined by 4one4 Property Co. Real Estate Agents, John McGregor and Patrick Berry
Patrick 0:24
love it real estate game.
Aaron 0:26
Yeah. Now I've gotten through the first bit that I always try so hard to do, because I've got it written down in front of me today. And then I was like, Oh, crap, I don't know what comes next. I'll get slowly but surely,
John 0:37
I think game could be a good word for it. Because no one can feel that way.
Aaron 0:40
I think I would normally say property market today, just now that the game is all about the guy
John 0:46
that had to play the game or something like that.
Aaron 0:49
It's good to be back again. This is our second one for the year. And I just want to say thank you to everybody out there that has jumped back on board or if you were first time listening last week, it's really good. We had had really good numbers last week, kind of after a break. Sometimes it takes a little water kind of you know, everyone to jump back on. But yeah, yeah, straight out the gate. Whoever subscribing and
Patrick 1:09
others push notifications you find sensory.
Aaron 1:12
Yeah, well, yeah. Thank you, for the people that have followed us in the past. And yeah, I think there's a there's actually a little bit of growth in 2021. So let's continue to kind of get jumping forward and we'll try not
Patrick 1:23
to let you guys down this week then.
Aaron 1:24
Yeah. I could have been like, yeah, I really enjoyed what I have to say.
John 1:31
I feel like it's a process. Rob. Was that.
Aaron 1:35
Was that your favourite guy? He's like, yeah, just the yodelling. Man.
Patrick 1:38
Why did they play it once in a blue moon?
Aaron 1:40
Because they want you to watch every week just in case? Yeah,
John 1:43
yeah.
Aaron 1:45
There's definitely method to their madness that actually, it'd be a sales technique for sure. Look,
John 1:49
I went down a rabbit hole of watching Hey, hey, it's Saturday clips at this point. So I'm gonna have to go back and find the prices right at this point now for the
Aaron 1:56
early May as only listen to something yesterday where I was saying that gogglebox TV shows way better if you watch like it from five years ago then rather than like the current ones, because they're just you basically watching the show. You've already watched, just having someone else watch it. That makes sense. But if you watch it from five years ago, it's kind of shows you forgot even existed. Yeah.
Patrick 2:14
See, I'm kind of the opposite, because I don't watch freeway TV. So when I watch gogglebox don't happen on that stupid level. And it's funny. To me. The full week captured of TV, so I don't have to watch it during
Aaron 2:28
the week. It's actually a pretty good point as well. Yeah. All right. I'll give you that. sighs Yes, there's many ways to watch gogglebox there's many ways to play the real estate guy.
John 2:36
You heard Hey, first.
Aaron 2:41
Alright guys, let's jump into some real estate stuff today. Well, we've got a bit on today. So we'll just kind of get in and a bit punchy. Let's talk about this moratorium. Yeah. When you've walked in, you said is over baby.
John 2:54
Oh, well, that was the emergency legislation put on the tenancy act for COVID. And it felt because they had extension after extension. And it now candle full end on the first of February. Just
Aaron 3:06
before we get any further, just treat me like the guy that does nothing. Yeah. You mentioned it. I'd heard the word I'd seen it come across the thing and I like listening in the offices. There's been this stuff that's come up, but can you explain it to the layman?
Patrick 3:20
Yeah, sure. So it all started back in March last year.
This is looping codabar.
John 3:32
virus.
Aaron 3:36
pets, pets got the info.
Patrick 3:39
And now you've ruined my train. No, seriously, back in March, the Tasmanian government put out this monitoring to help tenants ensure they felt safe while the unknown of everything that was happening in the world short, sharp. And as a result, we couldn't raise rents, we couldn't evict tenants if they stopped paying their rent. We had it was basically to ensure safe place of housing for people while the pandemic was at a high and with all the unknowns that were happening. Yeah, that sounds great. That sounds really kind of, and then it's sort of extended on and on. And on. And look, here in Tasmania, we're pretty lucky. And obviously a lot of people were able to get back to work. And yeah, it's sort of one of those things that it's good that it's been there to help tenants but as well has been a lot of burden for a lot of landlords that sort of a double edged sword. So depending on which side of the fence you're sitting on, some people are excited it ending some people are a bit worried that it hasn't ended. And look, you're never going to please everyone. It's just sort of one of those things, isn't it? Exactly.
John 4:39
And I suppose with it gone now, the I mean, the key elements like I said that where there will be no increases in rent at all, and any notices to vacate that were issued, we're not to be taken effect till first of February. So even if, unless they're a cup that relaxed that for a couple of changes during it, but effectively everyone was locked in place. Or if they wanted to make any changes, the tenant could happily stay in the house till the first of February until that was to take effect. Okay, so we, I mean, there was one, it was an interesting couple of things that came out of it too, is that the real number of people that are adversely affected by the monetary side of, you know, needing to be able to apply for relaxation in the rent or cancellation, it ended up being an exceptionally small number that came out from our institute. So, which is a great thing, you know, you don't want anyone either You don't? Don't you don't want the news to be that more people than not adversely affected by it? Yes. I think one of the outward pressure that began where people were applying for extension was to say, look, there's no, there's little proof at this point to justify this continuing restrictive legislation. Sure, because I mean, for example, we had a property in England, okay, in this day are going to be coming on the market. Yeah. And unfortunately, this is a case where the owner was a private landlord, and the tenant did the absolute wrong thing, the place is an absolute nightmare of a property, but during this legislation will, hopefully was hoping to get out by September or something at the time, or I can't remember the date. Exactly. But as they extended it, well, then they got another free, you know, quarter of a year worth of rent, because the no notice to vacate could take effect, even though that you know, weren't paying rent, we're trashing the property. And there was just in order for the applications to apply would have taken too long anyway. So that was a bit, you know, a, you know, an example of a bad instance, where the landlord had to bear this bad responsibility with the restrictive legislation.
Aaron 6:36
Yeah, so yeah, that's why I'm just having a quick look here. So there's kind of a double edged sword in some ways here, because yet really good for people that fall on hardship. But as you mentioned, there's kind of
Patrick 6:47
room to, you know, wrote the system. Absolutely, yeah.
John 6:50
So they're always
Aaron 6:52
a safety net there just in case. People fall and need the safety net, which is really good that there wasn't so many people that needed the net, however, there was there was there. But then also, you're just looking on the other side of things here kind of landlord support, kind of is the other side of things. And if you're a mom and dad investor or someone out there, that's kind of, you know, just trying to rent out your old house, and then you've fallen into the situation of having a someone that's happy to rot or mess with your property then yet, then you fall on hardship throughout that time.
John 7:23
Yeah, that's right.
Patrick 7:24
Yeah. Luckily, he we were pretty lucky that most tenants did the right thing. Yes. And probably one of the reasons why it's now been sort of taken away. And we're back to normal from a rental side of things in Tasmania,
John 7:35
which is great. Like, which means that, you know, on both ends, that there was an exceptionally small minority of both people that needed it and took advantage of it. Yeah. So in all respects, did a job. Yeah, exactly. Right. And now it's
Aaron 7:48
okay, so now moving on from here. So I've just read here that first of February, so just a few days ago, it kind of was finished or like the mercy legislation was lifted yet, what does it mean for the market, or for landlords and renters from now
John 8:04
from a practical sense, it means that any notice, like normal notice to vacate can take a you know, will take effect. So that doesn't mean that has changed, you still need to provide sufficient notice at the end of the lease. Yeah. But saying in the instance where with emergency legislation in place, you wanted to at least was coming to an end, you wanted to issue a notice to vacate? Well, or you issued notice to vacate for multiple reasons as it will, it doesn't matter that notice wouldn't take effect until the first of February. And this was negotiated by both parties that they would happily move. So if I take with my investment property, for example, there was a small, small rental increase, but that will now was supposed to come into effect pretty much of was it may last year, but now they will only increase. They've just increased in the first of February, for example.
Aaron 8:52
So is that increase to what would have increased across like that help here? Like will there be a massive jump in rental prices now? Like will it go from kind of a small, what would have been a small jump to a massive jump or
John 9:05
will this will any increase still has to be able to adjust be justified by the market. So if you've got an existing tenancy, where you're negotiating a increase with a with a lease term in place, that still has to be able to be justified. So if you've gone from like a $400 a week and a trying to ask for 550 but all the rentals in the area 420 bucks a week? Well, the tenant can absolutely do that and say this rental increase is not justified.
Aaron 9:32
Okay. Which I know we've talked about that. I think when your mom was on the show in the past and stuff like that, yeah, I just like because there was kind of a pause on being able to raise the rent and now landlord may have found themselves in a hardship position, or they're gonna want to create a home where they're like, Oh, look, well, we need to get our finances back in check. And then everybody in the areas that are now able to lift them, so the market actually is out of Officially, without sound like I know what I'm talking about.
John 10:02
Yeah, yeah, absolutely. Yeah.
Aaron 10:03
Whoo. Could that artificially?
John 10:05
It's like, it's like putting pressure on a spring, isn't it? Yeah. Now Now they've released that pressure, it's gonna, it's gonna shoot up to this.
Aaron 10:11
I'm just spitballing, just from Canada. And that's
John 10:14
I think that's a common concern that would, you know, would come with absolutely come up, come out and say, we'll look, is everyone gonna get beat in a worse situation now? And what that legislation now it's released, and then we're back to our normal, you know, standard affair? I guess you could say, Yeah. Is it returns back to the same discussions we having, which is, well, fundamentally, it's a lack of available housing. That's the problem. Yes. And all those layers of legislation would try and restrict increases or limit the capacity for people to move freely, or make their own decisions in that sense, or negotiate freely. Now, this would be this will be an interesting test, because obviously, I don't think Tesla's had that circumstance, before. We've had such a, you know, a restrictive legislation, you could say, and now that they will return to normal, so then the next six to 12 months will prove interesting, but I know some of our landlords opted to sign long term leases, you know, locked into places at this point, for the concern that they didn't know what would happen in 12 months time. Yeah. With it with it coming to an end, the, you know, many regulatory bodies sitting there arguing for the 10 sec, we're hoping for it to be extended, or that these rules would then now reapply into legislation. And I think those you know, those conversations and arguments will always still be made. And however, it will, it'll probably still be another six to 12 months, I suppose before we really see the long term effects of the this 12 month period.
Aaron 11:39
Okay. So I guess it's kind of just as a heads up, this is what's happened, the the lift has been lifted. What's the word monitoring monitors and lifted, interesting to see what happens across the market. So if you're a landlord or you're a renter, or you're looking to buy an investment property, it's something just to have a little bit of knowledge about moving forward.
John 12:00
Well, and I don't know, I only got a message from a friend last night she said to her in a couple of nights are still having a really hard time trying to find a rental property. So fundamentally, the landscape from what it was like before COVID, hit to now just hasn't changed yet.
Aaron 12:14
Go go rock and roll. All right, we'll look we'll cover off on that we might jump off to a break and we will be right back with a little bit more info.
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Aaron 12:45
all right, actually, we'll go straight back into John's wheelhouse today. He's been doing a bit of research on this one. You been reading the Guardian, my friend. Yeah. I thought this was a fun read. Yes, it did come through on the weekend. It's like oh, this is how I spend my weekends just reading the guardian.
John 12:59
All my newspapers had the longest name. That's how I justify this finish
Patrick 13:03
the Financial Review. I've now moved on to the guardian. I've
Aaron 13:06
unfolded it in three different ways.
Patrick 13:09
We sent a photo didn't mean it was the entire dining room table. The newspaper.
Aaron 13:12
Yeah, near his little speakeasy piano
John 13:14
when I read the newspaper. I like to be pretentious. I want to be punching people in their faces that might surprise that big.
Patrick 13:20
I just felt the cigar at 930 in the morning as
John 13:24
well. But the scotch was delicious.
Patrick 13:27
Alright, enough rubbish. productive.
John 13:29
Well, it was just a fun that a lot of cool way. It was focusing on the fact I think what the headline was clean air and an amazing house pandemic tree changes grab a slice of apple.
Unknown Speaker 13:39
It was it was one hell of a hit. Yeah, exactly.
John 13:41
That was a pebbles can feel the big.
Aaron 13:46
Actually, the next article I wanted to talk about has a bit of a pun in the in the headline. So I'll actually be good to lead through. Oh, perfect. But yes, so this article basically is talking about it's kind of a nationwide article saying lots of people that are looking for a tree change or sea change yet change is another one of those ones where I just can't wrap my head around saying tree change is fine. It's really tricky. rolls off the tongue a bit harder. Yeah. are looking at tazzy as a beautiful state, Tasmania, our backyard. And the article is kind of just saying that the population growth is just going to be crazy with this kind of work from home revolution.
John 14:25
Well, this to me, this is not new information at all.
Patrick 14:29
No. You know, Simon Paisley told us about this months ago. Exactly, exactly. It's sort of all the people suggesting it will be interesting to see what happens over the next 12 months.
John 14:37
Yeah, and that population growth is key. And he it wasn't in the the nauki future plan as well. They were anticipating how many 30 you know, 1000s of people growing just in the community.
Aaron 14:48
Community alone, just looking through this article. It just says Tasmania hopes to grow its current population from around 530,000 to 650,000 by the middle of the century. Yeah. So It says an increase of 22%, which normally we have a recession of people that people leaving the state and kind of
John 15:07
and that was largely that had always been the case. Yeah, yeah. And that's sort of now from 2015 onwards. Now, where that's, you know, was the conversation for a lot of what's going on in Hobart real estate market? Well, it's just we continue. Now everyone's now the, you know, the eyes have opened up to the potential of the state. And there's now looking back at this point, and I remember being a part of a think tank about it was in glenorchy, actually, and that's about the future plan of its of what Tasmania could be. And in my mind, I thought if the if he could have the capacity that it could be known as a, you know, high technology state and had good access to race, you know, the internet resources that there's no reason why people wouldn't start flooding here and live here, as opposed to if they didn't have to have a you know, they could work from home. Yes, it has us phenomenal opportunity, and seems that that's starting to play itself out. And COVID would seem as a catalyst now that Now many people thinking will actually as a regional centre, maybe it's even better, because it's coupled with the fact that if you do have that concern, at any time, we can just shut the gate effectively. And you can have that feeling of safety that you'd never had to really think about, I suppose previously in our generation. And there was a gentleman I met once we sold a block of land at brushy Park, and I can't remember I've told the story in the pub before, but he was looking after a block of land that was bestowed by was a Canadian billionaire at the time. And he told us Yeah,
yeah.
But he, but he obviously, he could have bought land anywhere on the planet. But he chose Tasmania in the end, specifically, because it's Australia. So it's relatively stable. Government, you'd say, we've got it's a first world country, highly educated in tazzy. You've got the cleanest air on the planet. There's no real natural disasters. So and then he chose to buy this land. He died apparently before he ever had to build his fallout shelter. But this bloke was obviously thinking, why do I hear that now everyone in the world starting to catch up for
Aaron 16:57
Yeah, not might have heard that one, but it is a good one. A classic john anecdote as soon as he said Canadian billionaire, we actually think last time the story The guy was from Texas. Actually, Rick and Johns like 'Well I think..."
John 17:11
Oh That one.
The Texas book he was the one that said now he's the he's the guy that goes there a problem in real estate that price cannot cure.
Aaron 17:30
That is exactly what I've heard I can I can splice that with the old audio of it and it would not look this these articles actually really nice in The Guardian. It's kind of speaking of you know, I don't I shouldn't say that. Just cuz I like there's lots of old people in this article. This is all great. Books and how great tezi it's
got a great ninja.
Patrick 18:04
Speaking at Lowe's, I'll be talking to you.
John 18:11
See how you go. All right.
Aaron 18:13
It is a it is a really nice article. I know we're having a bit of fun with it. But yet there is a lot of grey haired people in the article, just talking about how their decision to move to Tasmania was probably one of the best they've made in their lives. They've had long lives and you know, a few of them have moved to the northeast state. Some have moved to the south. It's it's a good read, john. I'm glad that you pulled it up and sent it through. Yeah, it
John 18:37
was just a nice it was investigative article in that sense by getting a bunch of different people with different backgrounds, different experiences and moved into different areas as well. So it's not just a focus on the south of state. And I mean, that seems to be true with locals as well where our own little mini tree changes the you know, we might say rather than living in Hobart, we'll move to Roseburg or something. So it's where that element where even Tasmanians are thinking a little bit differently.
Aaron 19:04
Alright, speaking of mining towns or areas of production Did you guys say this water mana story did you say I think you sent it through to me the how the whole like a bicycle I stealing the town of water man. Oh,
John 19:20
yeah, it's
Aaron 19:21
like shits Creek. Yes. That
John 19:22
was cool. That was amazing.
Unknown Speaker 19:25
How was that? I'd
Aaron 19:25
love to get the agent of whoever's got that listing and just talk to him like about his like, how he's marketing.
Patrick 19:32
So a whole town. Yeah, cuz
Aaron 19:33
I saw him I sent an email. Yeah, we should like I just saw it and he he'd said you kind of I've never had an experience like this. But as soon as it said like, you know this town, like I've been through what a minor and looking at it it had like the people that said they they were going to buy a pool table or something like from the area and they just fell in love with the whole town and ended up buying the town and moving there for 25 years. I'm like, this is common itself.
John 19:59
Yeah, that's so true.
Aaron 20:01
But yes, speaking of that, like man that your little Canadian guy might want to move to what a man.
John 20:06
Yeah, we would have probably at the time. You never know. God bless his cotton socks.
Aaron 20:12
All right, whenever you get back on track, we'll go to this other article I pulled up and this one's right in Pat's wheelhouse. This is the one I was mentioning that had a bit of a pun in the title. It says sports grants making a real difference. Oh,
Patrick 20:31
thanks for that one. David. is a good one.
Aaron 20:34
So this is a article about the glenorchy City area BMX related pet,
Patrick 20:40
can you tell us about Tasmania in general and about all these grants that have been given out to fund community sort of, it's called the playing fields grant programme done by the Sports Minister, Jane Howlett. And she's basically given out $3.7 million to improve facilities for sporting clubs right across the state. Yeah. But what obviously I was really interested in is what I guess in our area, the things that are coming to the sort of glenorchy area and the surrounding suburbs, that it would be a benefit to our community. Since you know, we're in the northern suburbs. Yeah. And obviously, the biggest one is actually my BMX club, they've actually received $250,000 towards their new track, which has been built up at Tulsa parks. Fantastic. quite exciting, because we'll be getting in total of $750,000 BMX facility in the suburb. So that's good. Yeah, it's really exciting because it's gonna provide a UCI track, which basically means that we can host national events, world events here in our own backyard. Yeah, really be allowed to grow the sport and, you know, hopefully get some good tourism coming this way as well over the years. It's pretty amazing. We
Aaron 21:45
had my son's first birthday party just up at tolosa Park The other day, and every heart was full, that skate park thing was full. Yeah, like just there was thriving with life. And it's like, imagine putting in like a how professional,
Patrick 22:00
what $750,000 just that? Well, it's exciting because it's got the Baymax pocket going in there. They're also spending millions of dollars redoing the downhill mountain Park Park, which is directly behind it. And they're putting in a dirt jump facility and also a pumptrack facility in there as well over the years. So it's going to be quite a large biking hub for the sort of area so and then on top of that the area is also receiving a brand new skate park down at the Montrose bay for sure. So
John 22:25
Oh, good stuff.
Aaron 22:26
That down near the deck and stuff need gasp
Patrick 22:29
Yes. Oh, yeah. Where the little playground is around from gasps. Oh, you got the playground in the sailing Squadron, the high school next door. So as a brand new skate park going in there, which they've secured $250,000 to build which? Yep. And what else we got? The Sorry, I'm just reading the article, the Claremont college community, Jimmy's also getting a $220,000 upgrade. So that's to go towards glenorchy Basketball Association. So yeah, we're getting some good facilities in the direct area.
Aaron 22:59
Yeah, that the greater glenorchy area is kind of getting a real boost across its community front.
Patrick 23:05
It's the glenorchy city council, they've done a great job. But too many applications have been so they had to submit the grant applications to the government yet. And obviously, whoever's written their applications for them, we've done a good job because they've secured three grants. So in total, you know, nearly $750,000 in grants received to actually improve the sub suburbs, like sporting facilities. Absolutely.
John 23:27
It wasn't until you got into it. And I've been just vicariously listening to your stories and living through that, that the I think the mountain biking elements just so ridiculously exciting, because the again, the attraction from both nationally and internationally, if it's at that level of people just coming to our state, we'll just be a little pin on the map. We have to go do that track. And that's exceptionally sorry.
Patrick 23:48
Oh, it's just the state in general is becoming crazy popular for downhill mountain biking, like made in a bike park is the world's largest downhill mountain bike park now, is it really? Yeah. And people come from all over the world to obviously they haven't recently. But yeah, we're coming. Hopefully they will to visit it. And like the Nationals been held there this year. So like, Tesla is definitely on the map for biking. And, but again, this relates to back to that previous article as well. It's all about that natural green living and that ability to explore and an own adventure
Aaron 24:18
sort of you can have any growth for the state is is good. And that's development pushing forward. And that's great for, you know, homeowners and people in the community so that, you know, there's no bad news coming out of That's right. The government giving money to
John 24:34
community grants.
Patrick 24:35
Yeah, but know that, you know, the glenorchy city council is putting in their own money as well. And they're spending, you know, around 1.5 to $2 million. Mark, I think it is on just improving facilities in the area is just fantastic. Yeah, that's gonna be a real buzz to, you know, for young kids and for families in the area. You know, it'll just help the area grow and become more accepted because exciting things happening here.
Aaron 24:58
Yeah, I think it'll make a we'll be Difference are things I
John 25:01
really believe that too much. We don't we certainly don't want to put a brake on these things.
Aaron 25:10
Yes, not very good. All right, let's, let's end the show there for today. We've had a bit of a loose one, but we've we've got there. Thank you for everyone that joined in and listened to all those people that started this thing last week. I thought it was really good. We, we apologise.
John 25:25
This was one of our new clients actually. She said, oh, I've started listening to podcasts at Goodwill. Don't start the first one that's a bit rough. So start what we've got and work backwards. So it'll be a couple of weeks before she realises what's
Aaron 25:41
my house. Alright guys, thank you for listening. Thanks, guys. See you next week. Bye. You have been listening to the property part recorded and edited by 4one4 Media House in conjunction with 414 property code.
Patrick 25:56
This podcast is general information only. And the thoughts and views expressed is the opinion of our panel and listeners
Unknown Speaker 26:01
should always seek the news
Patrick 26:02
their own investigation into any topic we discuss to ensure they fully understand their own situation.
John 26:07
It does not constitute and should not be relied on as purchasing or selling financial or investment advice or recommendations expressed or implied, and it should not be used as an invitation to take up any agent or investment services. No investment decision or activity should be undertaken on the basis of this information without first seeking qualified and professional advice.
Transcribed by https://otter.ai
Alright guys, welcome back to the property pod. You're accessible and easy to listen to podcast about the real estate game. I'm your host Aaron Horne, and I'm joined by 4one4 Property Co. Real Estate Agents, John McGregor and Patrick Berry
Patrick 0:24
love it real estate game.
Aaron 0:26
Yeah. Now I've gotten through the first bit that I always try so hard to do, because I've got it written down in front of me today. And then I was like, Oh, crap, I don't know what comes next. I'll get slowly but surely,
John 0:37
I think game could be a good word for it. Because no one can feel that way.
Aaron 0:40
I think I would normally say property market today, just now that the game is all about the guy
John 0:46
that had to play the game or something like that.
Aaron 0:49
It's good to be back again. This is our second one for the year. And I just want to say thank you to everybody out there that has jumped back on board or if you were first time listening last week, it's really good. We had had really good numbers last week, kind of after a break. Sometimes it takes a little water kind of you know, everyone to jump back on. But yeah, yeah, straight out the gate. Whoever subscribing and
Patrick 1:09
others push notifications you find sensory.
Aaron 1:12
Yeah, well, yeah. Thank you, for the people that have followed us in the past. And yeah, I think there's a there's actually a little bit of growth in 2021. So let's continue to kind of get jumping forward and we'll try not
Patrick 1:23
to let you guys down this week then.
Aaron 1:24
Yeah. I could have been like, yeah, I really enjoyed what I have to say.
John 1:31
I feel like it's a process. Rob. Was that.
Aaron 1:35
Was that your favourite guy? He's like, yeah, just the yodelling. Man.
Patrick 1:38
Why did they play it once in a blue moon?
Aaron 1:40
Because they want you to watch every week just in case? Yeah,
John 1:43
yeah.
Aaron 1:45
There's definitely method to their madness that actually, it'd be a sales technique for sure. Look,
John 1:49
I went down a rabbit hole of watching Hey, hey, it's Saturday clips at this point. So I'm gonna have to go back and find the prices right at this point now for the
Aaron 1:56
early May as only listen to something yesterday where I was saying that gogglebox TV shows way better if you watch like it from five years ago then rather than like the current ones, because they're just you basically watching the show. You've already watched, just having someone else watch it. That makes sense. But if you watch it from five years ago, it's kind of shows you forgot even existed. Yeah.
Patrick 2:14
See, I'm kind of the opposite, because I don't watch freeway TV. So when I watch gogglebox don't happen on that stupid level. And it's funny. To me. The full week captured of TV, so I don't have to watch it during
Aaron 2:28
the week. It's actually a pretty good point as well. Yeah. All right. I'll give you that. sighs Yes, there's many ways to watch gogglebox there's many ways to play the real estate guy.
John 2:36
You heard Hey, first.
Aaron 2:41
Alright guys, let's jump into some real estate stuff today. Well, we've got a bit on today. So we'll just kind of get in and a bit punchy. Let's talk about this moratorium. Yeah. When you've walked in, you said is over baby.
John 2:54
Oh, well, that was the emergency legislation put on the tenancy act for COVID. And it felt because they had extension after extension. And it now candle full end on the first of February. Just
Aaron 3:06
before we get any further, just treat me like the guy that does nothing. Yeah. You mentioned it. I'd heard the word I'd seen it come across the thing and I like listening in the offices. There's been this stuff that's come up, but can you explain it to the layman?
Patrick 3:20
Yeah, sure. So it all started back in March last year.
This is looping codabar.
John 3:32
virus.
Aaron 3:36
pets, pets got the info.
Patrick 3:39
And now you've ruined my train. No, seriously, back in March, the Tasmanian government put out this monitoring to help tenants ensure they felt safe while the unknown of everything that was happening in the world short, sharp. And as a result, we couldn't raise rents, we couldn't evict tenants if they stopped paying their rent. We had it was basically to ensure safe place of housing for people while the pandemic was at a high and with all the unknowns that were happening. Yeah, that sounds great. That sounds really kind of, and then it's sort of extended on and on. And on. And look, here in Tasmania, we're pretty lucky. And obviously a lot of people were able to get back to work. And yeah, it's sort of one of those things that it's good that it's been there to help tenants but as well has been a lot of burden for a lot of landlords that sort of a double edged sword. So depending on which side of the fence you're sitting on, some people are excited it ending some people are a bit worried that it hasn't ended. And look, you're never going to please everyone. It's just sort of one of those things, isn't it? Exactly.
John 4:39
And I suppose with it gone now, the I mean, the key elements like I said that where there will be no increases in rent at all, and any notices to vacate that were issued, we're not to be taken effect till first of February. So even if, unless they're a cup that relaxed that for a couple of changes during it, but effectively everyone was locked in place. Or if they wanted to make any changes, the tenant could happily stay in the house till the first of February until that was to take effect. Okay, so we, I mean, there was one, it was an interesting couple of things that came out of it too, is that the real number of people that are adversely affected by the monetary side of, you know, needing to be able to apply for relaxation in the rent or cancellation, it ended up being an exceptionally small number that came out from our institute. So, which is a great thing, you know, you don't want anyone either You don't? Don't you don't want the news to be that more people than not adversely affected by it? Yes. I think one of the outward pressure that began where people were applying for extension was to say, look, there's no, there's little proof at this point to justify this continuing restrictive legislation. Sure, because I mean, for example, we had a property in England, okay, in this day are going to be coming on the market. Yeah. And unfortunately, this is a case where the owner was a private landlord, and the tenant did the absolute wrong thing, the place is an absolute nightmare of a property, but during this legislation will, hopefully was hoping to get out by September or something at the time, or I can't remember the date. Exactly. But as they extended it, well, then they got another free, you know, quarter of a year worth of rent, because the no notice to vacate could take effect, even though that you know, weren't paying rent, we're trashing the property. And there was just in order for the applications to apply would have taken too long anyway. So that was a bit, you know, a, you know, an example of a bad instance, where the landlord had to bear this bad responsibility with the restrictive legislation.
Aaron 6:36
Yeah, so yeah, that's why I'm just having a quick look here. So there's kind of a double edged sword in some ways here, because yet really good for people that fall on hardship. But as you mentioned, there's kind of
Patrick 6:47
room to, you know, wrote the system. Absolutely, yeah.
John 6:50
So they're always
Aaron 6:52
a safety net there just in case. People fall and need the safety net, which is really good that there wasn't so many people that needed the net, however, there was there was there. But then also, you're just looking on the other side of things here kind of landlord support, kind of is the other side of things. And if you're a mom and dad investor or someone out there, that's kind of, you know, just trying to rent out your old house, and then you've fallen into the situation of having a someone that's happy to rot or mess with your property then yet, then you fall on hardship throughout that time.
John 7:23
Yeah, that's right.
Patrick 7:24
Yeah. Luckily, he we were pretty lucky that most tenants did the right thing. Yes. And probably one of the reasons why it's now been sort of taken away. And we're back to normal from a rental side of things in Tasmania,
John 7:35
which is great. Like, which means that, you know, on both ends, that there was an exceptionally small minority of both people that needed it and took advantage of it. Yeah. So in all respects, did a job. Yeah, exactly. Right. And now it's
Aaron 7:48
okay, so now moving on from here. So I've just read here that first of February, so just a few days ago, it kind of was finished or like the mercy legislation was lifted yet, what does it mean for the market, or for landlords and renters from now
John 8:04
from a practical sense, it means that any notice, like normal notice to vacate can take a you know, will take effect. So that doesn't mean that has changed, you still need to provide sufficient notice at the end of the lease. Yeah. But saying in the instance where with emergency legislation in place, you wanted to at least was coming to an end, you wanted to issue a notice to vacate? Well, or you issued notice to vacate for multiple reasons as it will, it doesn't matter that notice wouldn't take effect until the first of February. And this was negotiated by both parties that they would happily move. So if I take with my investment property, for example, there was a small, small rental increase, but that will now was supposed to come into effect pretty much of was it may last year, but now they will only increase. They've just increased in the first of February, for example.
Aaron 8:52
So is that increase to what would have increased across like that help here? Like will there be a massive jump in rental prices now? Like will it go from kind of a small, what would have been a small jump to a massive jump or
John 9:05
will this will any increase still has to be able to adjust be justified by the market. So if you've got an existing tenancy, where you're negotiating a increase with a with a lease term in place, that still has to be able to be justified. So if you've gone from like a $400 a week and a trying to ask for 550 but all the rentals in the area 420 bucks a week? Well, the tenant can absolutely do that and say this rental increase is not justified.
Aaron 9:32
Okay. Which I know we've talked about that. I think when your mom was on the show in the past and stuff like that, yeah, I just like because there was kind of a pause on being able to raise the rent and now landlord may have found themselves in a hardship position, or they're gonna want to create a home where they're like, Oh, look, well, we need to get our finances back in check. And then everybody in the areas that are now able to lift them, so the market actually is out of Officially, without sound like I know what I'm talking about.
John 10:02
Yeah, yeah, absolutely. Yeah.
Aaron 10:03
Whoo. Could that artificially?
John 10:05
It's like, it's like putting pressure on a spring, isn't it? Yeah. Now Now they've released that pressure, it's gonna, it's gonna shoot up to this.
Aaron 10:11
I'm just spitballing, just from Canada. And that's
John 10:14
I think that's a common concern that would, you know, would come with absolutely come up, come out and say, we'll look, is everyone gonna get beat in a worse situation now? And what that legislation now it's released, and then we're back to our normal, you know, standard affair? I guess you could say, Yeah. Is it returns back to the same discussions we having, which is, well, fundamentally, it's a lack of available housing. That's the problem. Yes. And all those layers of legislation would try and restrict increases or limit the capacity for people to move freely, or make their own decisions in that sense, or negotiate freely. Now, this would be this will be an interesting test, because obviously, I don't think Tesla's had that circumstance, before. We've had such a, you know, a restrictive legislation, you could say, and now that they will return to normal, so then the next six to 12 months will prove interesting, but I know some of our landlords opted to sign long term leases, you know, locked into places at this point, for the concern that they didn't know what would happen in 12 months time. Yeah. With it with it coming to an end, the, you know, many regulatory bodies sitting there arguing for the 10 sec, we're hoping for it to be extended, or that these rules would then now reapply into legislation. And I think those you know, those conversations and arguments will always still be made. And however, it will, it'll probably still be another six to 12 months, I suppose before we really see the long term effects of the this 12 month period.
Aaron 11:39
Okay. So I guess it's kind of just as a heads up, this is what's happened, the the lift has been lifted. What's the word monitoring monitors and lifted, interesting to see what happens across the market. So if you're a landlord or you're a renter, or you're looking to buy an investment property, it's something just to have a little bit of knowledge about moving forward.
John 12:00
Well, and I don't know, I only got a message from a friend last night she said to her in a couple of nights are still having a really hard time trying to find a rental property. So fundamentally, the landscape from what it was like before COVID, hit to now just hasn't changed yet.
Aaron 12:14
Go go rock and roll. All right, we'll look we'll cover off on that we might jump off to a break and we will be right back with a little bit more info.
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Aaron 12:45
all right, actually, we'll go straight back into John's wheelhouse today. He's been doing a bit of research on this one. You been reading the Guardian, my friend. Yeah. I thought this was a fun read. Yes, it did come through on the weekend. It's like oh, this is how I spend my weekends just reading the guardian.
John 12:59
All my newspapers had the longest name. That's how I justify this finish
Patrick 13:03
the Financial Review. I've now moved on to the guardian. I've
Aaron 13:06
unfolded it in three different ways.
Patrick 13:09
We sent a photo didn't mean it was the entire dining room table. The newspaper.
Aaron 13:12
Yeah, near his little speakeasy piano
John 13:14
when I read the newspaper. I like to be pretentious. I want to be punching people in their faces that might surprise that big.
Patrick 13:20
I just felt the cigar at 930 in the morning as
John 13:24
well. But the scotch was delicious.
Patrick 13:27
Alright, enough rubbish. productive.
John 13:29
Well, it was just a fun that a lot of cool way. It was focusing on the fact I think what the headline was clean air and an amazing house pandemic tree changes grab a slice of apple.
Unknown Speaker 13:39
It was it was one hell of a hit. Yeah, exactly.
John 13:41
That was a pebbles can feel the big.
Aaron 13:46
Actually, the next article I wanted to talk about has a bit of a pun in the in the headline. So I'll actually be good to lead through. Oh, perfect. But yes, so this article basically is talking about it's kind of a nationwide article saying lots of people that are looking for a tree change or sea change yet change is another one of those ones where I just can't wrap my head around saying tree change is fine. It's really tricky. rolls off the tongue a bit harder. Yeah. are looking at tazzy as a beautiful state, Tasmania, our backyard. And the article is kind of just saying that the population growth is just going to be crazy with this kind of work from home revolution.
John 14:25
Well, this to me, this is not new information at all.
Patrick 14:29
No. You know, Simon Paisley told us about this months ago. Exactly, exactly. It's sort of all the people suggesting it will be interesting to see what happens over the next 12 months.
John 14:37
Yeah, and that population growth is key. And he it wasn't in the the nauki future plan as well. They were anticipating how many 30 you know, 1000s of people growing just in the community.
Aaron 14:48
Community alone, just looking through this article. It just says Tasmania hopes to grow its current population from around 530,000 to 650,000 by the middle of the century. Yeah. So It says an increase of 22%, which normally we have a recession of people that people leaving the state and kind of
John 15:07
and that was largely that had always been the case. Yeah, yeah. And that's sort of now from 2015 onwards. Now, where that's, you know, was the conversation for a lot of what's going on in Hobart real estate market? Well, it's just we continue. Now everyone's now the, you know, the eyes have opened up to the potential of the state. And there's now looking back at this point, and I remember being a part of a think tank about it was in glenorchy, actually, and that's about the future plan of its of what Tasmania could be. And in my mind, I thought if the if he could have the capacity that it could be known as a, you know, high technology state and had good access to race, you know, the internet resources that there's no reason why people wouldn't start flooding here and live here, as opposed to if they didn't have to have a you know, they could work from home. Yes, it has us phenomenal opportunity, and seems that that's starting to play itself out. And COVID would seem as a catalyst now that Now many people thinking will actually as a regional centre, maybe it's even better, because it's coupled with the fact that if you do have that concern, at any time, we can just shut the gate effectively. And you can have that feeling of safety that you'd never had to really think about, I suppose previously in our generation. And there was a gentleman I met once we sold a block of land at brushy Park, and I can't remember I've told the story in the pub before, but he was looking after a block of land that was bestowed by was a Canadian billionaire at the time. And he told us Yeah,
yeah.
But he, but he obviously, he could have bought land anywhere on the planet. But he chose Tasmania in the end, specifically, because it's Australia. So it's relatively stable. Government, you'd say, we've got it's a first world country, highly educated in tazzy. You've got the cleanest air on the planet. There's no real natural disasters. So and then he chose to buy this land. He died apparently before he ever had to build his fallout shelter. But this bloke was obviously thinking, why do I hear that now everyone in the world starting to catch up for
Aaron 16:57
Yeah, not might have heard that one, but it is a good one. A classic john anecdote as soon as he said Canadian billionaire, we actually think last time the story The guy was from Texas. Actually, Rick and Johns like 'Well I think..."
John 17:11
Oh That one.
The Texas book he was the one that said now he's the he's the guy that goes there a problem in real estate that price cannot cure.
Aaron 17:30
That is exactly what I've heard I can I can splice that with the old audio of it and it would not look this these articles actually really nice in The Guardian. It's kind of speaking of you know, I don't I shouldn't say that. Just cuz I like there's lots of old people in this article. This is all great. Books and how great tezi it's
got a great ninja.
Patrick 18:04
Speaking at Lowe's, I'll be talking to you.
John 18:11
See how you go. All right.
Aaron 18:13
It is a it is a really nice article. I know we're having a bit of fun with it. But yet there is a lot of grey haired people in the article, just talking about how their decision to move to Tasmania was probably one of the best they've made in their lives. They've had long lives and you know, a few of them have moved to the northeast state. Some have moved to the south. It's it's a good read, john. I'm glad that you pulled it up and sent it through. Yeah, it
John 18:37
was just a nice it was investigative article in that sense by getting a bunch of different people with different backgrounds, different experiences and moved into different areas as well. So it's not just a focus on the south of state. And I mean, that seems to be true with locals as well where our own little mini tree changes the you know, we might say rather than living in Hobart, we'll move to Roseburg or something. So it's where that element where even Tasmanians are thinking a little bit differently.
Aaron 19:04
Alright, speaking of mining towns or areas of production Did you guys say this water mana story did you say I think you sent it through to me the how the whole like a bicycle I stealing the town of water man. Oh,
John 19:20
yeah, it's
Aaron 19:21
like shits Creek. Yes. That
John 19:22
was cool. That was amazing.
Unknown Speaker 19:25
How was that? I'd
Aaron 19:25
love to get the agent of whoever's got that listing and just talk to him like about his like, how he's marketing.
Patrick 19:32
So a whole town. Yeah, cuz
Aaron 19:33
I saw him I sent an email. Yeah, we should like I just saw it and he he'd said you kind of I've never had an experience like this. But as soon as it said like, you know this town, like I've been through what a minor and looking at it it had like the people that said they they were going to buy a pool table or something like from the area and they just fell in love with the whole town and ended up buying the town and moving there for 25 years. I'm like, this is common itself.
John 19:59
Yeah, that's so true.
Aaron 20:01
But yes, speaking of that, like man that your little Canadian guy might want to move to what a man.
John 20:06
Yeah, we would have probably at the time. You never know. God bless his cotton socks.
Aaron 20:12
All right, whenever you get back on track, we'll go to this other article I pulled up and this one's right in Pat's wheelhouse. This is the one I was mentioning that had a bit of a pun in the title. It says sports grants making a real difference. Oh,
Patrick 20:31
thanks for that one. David. is a good one.
Aaron 20:34
So this is a article about the glenorchy City area BMX related pet,
Patrick 20:40
can you tell us about Tasmania in general and about all these grants that have been given out to fund community sort of, it's called the playing fields grant programme done by the Sports Minister, Jane Howlett. And she's basically given out $3.7 million to improve facilities for sporting clubs right across the state. Yeah. But what obviously I was really interested in is what I guess in our area, the things that are coming to the sort of glenorchy area and the surrounding suburbs, that it would be a benefit to our community. Since you know, we're in the northern suburbs. Yeah. And obviously, the biggest one is actually my BMX club, they've actually received $250,000 towards their new track, which has been built up at Tulsa parks. Fantastic. quite exciting, because we'll be getting in total of $750,000 BMX facility in the suburb. So that's good. Yeah, it's really exciting because it's gonna provide a UCI track, which basically means that we can host national events, world events here in our own backyard. Yeah, really be allowed to grow the sport and, you know, hopefully get some good tourism coming this way as well over the years. It's pretty amazing. We
Aaron 21:45
had my son's first birthday party just up at tolosa Park The other day, and every heart was full, that skate park thing was full. Yeah, like just there was thriving with life. And it's like, imagine putting in like a how professional,
Patrick 22:00
what $750,000 just that? Well, it's exciting because it's got the Baymax pocket going in there. They're also spending millions of dollars redoing the downhill mountain Park Park, which is directly behind it. And they're putting in a dirt jump facility and also a pumptrack facility in there as well over the years. So it's going to be quite a large biking hub for the sort of area so and then on top of that the area is also receiving a brand new skate park down at the Montrose bay for sure. So
John 22:25
Oh, good stuff.
Aaron 22:26
That down near the deck and stuff need gasp
Patrick 22:29
Yes. Oh, yeah. Where the little playground is around from gasps. Oh, you got the playground in the sailing Squadron, the high school next door. So as a brand new skate park going in there, which they've secured $250,000 to build which? Yep. And what else we got? The Sorry, I'm just reading the article, the Claremont college community, Jimmy's also getting a $220,000 upgrade. So that's to go towards glenorchy Basketball Association. So yeah, we're getting some good facilities in the direct area.
Aaron 22:59
Yeah, that the greater glenorchy area is kind of getting a real boost across its community front.
Patrick 23:05
It's the glenorchy city council, they've done a great job. But too many applications have been so they had to submit the grant applications to the government yet. And obviously, whoever's written their applications for them, we've done a good job because they've secured three grants. So in total, you know, nearly $750,000 in grants received to actually improve the sub suburbs, like sporting facilities. Absolutely.
John 23:27
It wasn't until you got into it. And I've been just vicariously listening to your stories and living through that, that the I think the mountain biking elements just so ridiculously exciting, because the again, the attraction from both nationally and internationally, if it's at that level of people just coming to our state, we'll just be a little pin on the map. We have to go do that track. And that's exceptionally sorry.
Patrick 23:48
Oh, it's just the state in general is becoming crazy popular for downhill mountain biking, like made in a bike park is the world's largest downhill mountain bike park now, is it really? Yeah. And people come from all over the world to obviously they haven't recently. But yeah, we're coming. Hopefully they will to visit it. And like the Nationals been held there this year. So like, Tesla is definitely on the map for biking. And, but again, this relates to back to that previous article as well. It's all about that natural green living and that ability to explore and an own adventure
Aaron 24:18
sort of you can have any growth for the state is is good. And that's development pushing forward. And that's great for, you know, homeowners and people in the community so that, you know, there's no bad news coming out of That's right. The government giving money to
John 24:34
community grants.
Patrick 24:35
Yeah, but know that, you know, the glenorchy city council is putting in their own money as well. And they're spending, you know, around 1.5 to $2 million. Mark, I think it is on just improving facilities in the area is just fantastic. Yeah, that's gonna be a real buzz to, you know, for young kids and for families in the area. You know, it'll just help the area grow and become more accepted because exciting things happening here.
Aaron 24:58
Yeah, I think it'll make a we'll be Difference are things I
John 25:01
really believe that too much. We don't we certainly don't want to put a brake on these things.
Aaron 25:10
Yes, not very good. All right, let's, let's end the show there for today. We've had a bit of a loose one, but we've we've got there. Thank you for everyone that joined in and listened to all those people that started this thing last week. I thought it was really good. We, we apologise.
John 25:25
This was one of our new clients actually. She said, oh, I've started listening to podcasts at Goodwill. Don't start the first one that's a bit rough. So start what we've got and work backwards. So it'll be a couple of weeks before she realises what's
Aaron 25:41
my house. Alright guys, thank you for listening. Thanks, guys. See you next week. Bye. You have been listening to the property part recorded and edited by 4one4 Media House in conjunction with 414 property code.
Patrick 25:56
This podcast is general information only. And the thoughts and views expressed is the opinion of our panel and listeners
Unknown Speaker 26:01
should always seek the news
Patrick 26:02
their own investigation into any topic we discuss to ensure they fully understand their own situation.
John 26:07
It does not constitute and should not be relied on as purchasing or selling financial or investment advice or recommendations expressed or implied, and it should not be used as an invitation to take up any agent or investment services. No investment decision or activity should be undertaken on the basis of this information without first seeking qualified and professional advice.
Transcribed by https://otter.ai