Sky Business Real Estate - Hosting with Sophie Hull

This is Sky News Real Estate.

We're about to head back to Camp Hill to watch our next live auction get underway. This is 24 Prout Street. It's quite an interesting proposition, isn't it, Todd? It's only a 2-bedroom house on a 400 square metre block, but on a very elevated bit of land where a lot of other houses are being upgraded and redeveloped.

Absolutely. So I mean, you know, 2 bedrooms in that type of area would be quite limited, I would imagine. So it wouldn't necessarily attract a family or anything to come into this type of property, which is what you'd tend to expect in more Camp Hill type of areas for sure. So I can see why the agent is talking about, you know, knocking down and trying to rebuild something, so more of a family type of home, or in the meantime just doing a renovation just to, you know, to move it through.

This photo is an interesting one to look at, I think, because it shows just how close The house is behind it, so this must be a block that's been subdivided once already. This is a house that's been there since the 1930s. You can imagine the block wasn't that small when the original home was built.

Yeah, so a 4-bedroom block in 1930 wouldn't have been the case, that's for sure.

No, and you can also see that it's been built underneath the house, but they're not referring to those areas as bedrooms, so they mustn't quite meet standard. Is that right? They're not code?

Yeah, that's correct. And you see this a lot in certain areas in Brisbane, certainly because of the You know, they've got— it's much easier in Sydney, for example, to have granny flats and separate living and things like that and be able to rent them out separately. Not the same in Queensland for sure. It's only certain areas. And because probably the ceilings are probably too low, I think we were chatting about that, they actually can't refer to the underneath. They just call it a multipurpose rumpus room is really what they call it. But, you know, I guess that's— they can, for people that buy it, they might just turn that into other bedrooms anyway, whether they list it on this as a 2-bedroom or 3-bedroom or not. So it does have that extra functionality, I guess.

Yeah, I mean, there's still quite a bit you can do with a 400 square meter block if you were to remove this house, isn't there? I mean, there's ways to kind of reconfigure and use that land better, use that sort of 2-story, you know, height better.

What you really see in the property world now is that people don't want big yards to go and maintain. They're looking for the houses with the biggest footprint, and this is why we're seeing in new estates that it's quite typical to have 400 square meter blocks. That's not an abnormal thing at all. Because it's all about the footprint of the house now and the functionality of the house rather than having these big backyards where the kids could actually run around. So yeah, there's no problems with that block size if people want to come and build something solid, especially 2-storey.

Yeah, it's more about cinema rooms and less about backyard cricket these days, isn't it? We've seen quite a few auctions in Camp Hill. For some reason, this is a real hotspot for Brisbane auctions, and this is yet another one where we expect Bidding to be quite fierce, but normally what we see there are bigger blocks that are ripe for subdivision. This again is a different prospect because you can't really subdivide that any further, obviously. We know that it last changed hands in 2005 for $500,000, so 13 years later when growth in the area has been— well, in 5 years the median price is up 45%. So it will be really interesting to see where this one goes today.

Yeah, and I'm interested to see, well, I'd love to know who actually winds up buying it, what their intention is, because doing a knockdown and rebuild in that area, I mean, depending on the price point they pay for it, they could wind up overcapitalizing by a long shot. So it's going to be really interesting to see who actually winds up buying this and what purpose they are. Not sure we'll get that information today though.

Well, we're going to get a bit of information because that auction is actually underway now. The preamble has begun, so we'll get over there now and hopefully the bidding starts pretty soon.

You've got a home that just gives you so much in terms of opportunity. I love the fact that you can move in and absolutely enjoy. You don't need to spend another dollar, and of course, it's a home that you can grow into and do many, many things. There's been much discussion about what may be for Proudt Street number 24, but let's just say that it's a great opportunity for the short term, again, the medium and long term. Buyers, we're here to have an auction. We're not going to delay your enthusiasm to purchase. Where do we start?

Opening bid time. Who'd like to get us underway?

I'd like to start. $650,000, sir. At $650,000 is the bid. At $650,000 now, can I say $700,000 better? At $650,000 now, but at $650,000 the bid here at $650,000 and $700,000 you want to go in. At $650,000 is the bid here at $650,000 now. At $650,000 the bid here at $650,000 and $700,000 if you like, buyers. What do you say? $700,000? At $700,000 better now. At $750,000 you want to go in?

$750,000.

$710,000. $710,000 keeps us moving. Happy to extend the same courtesy if you like. $715,000.

$715,000.

$715,500. $720,000. $722,500. $725,000. $726,000. $730,000.

$731,000.

It's your turn. $731,000. At $731,000 now. At $731,000, the bid number is $731,000 here at $731,000. $731,000 now. At $731,000 here. At $731,000's the bid now. Come back strong, have a think. At $731,000 now. At $731,000 the bid here. At $731,000 now. At $731,000's the bid. At $731,000 now. I'll call it through. Buyers first time at $731,000. Are we all out? Finished? Done?

$732,000.

$733,000. At $733,000, buyers, we're going to have to work harder than this. Property's worth more. At $733,000. At $733,000, if we pass the property, and I can assure you it will sell for more than this, make no mistake about it. At $733,000 now. At $733,000, the bid here. At $733,000 now. But at $733,000 is the bid here. At $733,000, and I'll call it through again. First time at $733,000.

$735,000.

$736,000.

Have a think. At $736,000 now. At $736,000 the bid now. At $736,000 now. At $736,000 the bid here. At $736,000 now. First time. Second call at $736,000. $740,000. $741,000. Can we say $740,000? $741,000. At $741,000 is the bid. At $741,000 now. At $741,000 here.

At $741,000.

Have it or move it. At your pace if you like. First time at $741,000. Second call at $741,000. Third, final. 43, 4, 5, 6. 746. Straight to a million. 746. At $746,000. At $746,000 is the bid. 50. $750,000. 1. $751,000. Come back strong. $760,000. Easy when it's not my money, isn't it? $751,000. At $751,000 is the bid. Come on, this one's worth having a good hot lunch at. At $751,000, you've got that beautiful city view. All of the options available to you. At $751,000, there'll be no regret, no remorse. At $751,000. 5, $755,000. 6, 7, 8, 9.

$760,000.

$760,000. 1, 2, 3, 4, 5.

4.

$764,000. 5. $765,000. Bids here. $767,000. $767,000. $767,000. $767,000 is the bid. $768,000. 9. $770,000. 1. 2, 3, 4, 5, 6, 7. 777, 778. 778,000. Can I suggest 780? At $778,000 on bid. At $778,000, bids here. At $778,000 now. At $778,000, a bid here at $778,000 now.

$779,000.

At $779,000. $780,000. 1. At $781,000. At $781,000. 2. 3.

$784,000.

$785,000.

$786,000. $787,000.

$787,000 on the deck at $787,000. At $787,000 for bid. I know it'll be a leap of faith, but what about $800,000 outright? $787,000. $788,000.

$789,000.

$789,500. $790,000. $790,000 is the bid. $790,000. Have a think. At $790,000. At $790,000, the bid here. At $790,000. Now to $790,000, the bid here. First call at $790,000. Second time at $790,000.

I'm sorry.

Yeah, I think so. 3rd and final time at $790,000. 1, 2, ladies and gentlemen, it's on the market. It'll be sold if there's no better bid at $792,000. That's $792,000 is the bid here at $792,000. You'd hate to miss it for $1,000, wouldn't you? That's $792,000 now. That's $792,000 now to $792,000. The bid here at $792,000 and we sell if there's no better bid. First call at $792,000. Think about the now, but think about the future. At $792,000. Second time at $792,000. Bids here. We're on the market. We're definitely not finished and done.

At $792,000.

I've called it once, called it twice, 3, 4. $794,000. Again, I urge you, go to $800,000. You might get the job done.

$800,000.

$800,000.

1.

I told you that'd work. $801,000. At $801,000, $801,000's the bid. $801,000 definitely out. Thank you. At $801,000, bids here now, and I'll call it again first time at $801,000 now. Second time at $801,000, we're on the market and we sell if there's no better bid. Third and final time at $801,000, we definitely out-finished and done. Is that a bid? We out-finished, done. Give me the nod. I need an answer. Peter, what are we up to? We're at $801,000 bids here and I've called it 3 times. Need an answer. We out, finished and done.

$810,000.

$810,000. $811,000. At $811,000, definitely. You said that last time, how can we believe you this time? At $811,000. At $811,000 now for the first time. Second call at $811,000. Third and final time at $811,000. Definitely out, finished and done. Going, going. Sold. Congratulations. Well done, ladies and gentlemen. On behalf of Shane Hicks and the entire Place team, congratulating our new owners. Thank you very much to all those who supported the auction here today, and we hope you have a wonderful week.

Wow, what a great result there in Camp Hill. Um, a really interesting prospect, that house, and clearly somebody really saw the value in that one. Uh, $811,000. More than we were expecting there.

Yeah, clearly someone saw the value in it because I'm not sure if I'm seeing the value in that one in particular. So I wonder what they're going to do with it. I'm interested to know their intention behind it because if they're going to knock it down and rebuild, that's a whole lot of money they're going to be spending, that's for sure, to try and get a result.

Yeah, and it's because it's not a big block and it's actually kind of already touching the back fence really with the other neighbors. So it's a block that's already been subdivided. It's got a 2-bedroom house on it that you could improve a bit, but—

You wouldn't want to spend too much money on it either, because I can't see how you'd radically improve the value in such a big way that's going to make it worthwhile, you know.

I mean, Camp Hill is a great suburb, and it's kind of the next one to come along behind Hawthorne and Bulimba and, you know, Morningside. It's in that little patch of Brisbane which is, you know, it's close to the suburbs that have already peaked, and it's kind of having its moment, but that That is still quite an interesting result there.

Yeah.

I mean, you can really see the demand in the area. We just, you know, scrolling through all the listings, everything's auction or tender or things like that. There's no price-guided too much which is coming on or private treaty sales. So they're really trying to get people to auction to try and get the emotion going in that. So there's definitely obviously some demand in the area and we can see that from the price. You know, that's some— that's certainly a lot higher than what I was expecting it to go for. So I hope they get some value out of it, whoever's moving in there for sure.

Yeah, nice pacey auction too, wasn't it? Going up in ones.

One thousands at a time.

It was sort of bouncing like ping pong.

You'd push it for $15,000 and back to $1,000 again.

You worked it.

That was a great auction. We're going to a quick break now, but lots more real estate coming up after this break.

For anyone with a bad back, I'd recommend a VariDesk. It just makes my working life more comfortable. The mobility of the upright position gives you the freedom It's a lot easier to walk around. VariDesk quality is like a Sherman tank. The engineering's just spot on. For me personally, it has just made me a happier bloke to go to work.

Try VariDesk risk-free for 30 days. Call 1800-VARI-DESK or visit varidesk.com.au.

Looking for something different? I have the perfect place in mind.

This is your family home.

Don't give up. This could be yours.

Your dream home is waiting.

Go on, take a chance.

I can give you the home you've always wanted. Everything you need is already here. Your dream, your home, your choice. It's the season you've been waiting for.

New Love It or List It Australia starts Wednesday, 8:30 on Lifestyle.

Why wouldn't you be happy with that one? Can you believe it?

Oh, it's a beauty!

Just like that, absolutely brilliant.

What an advertisement for the game.

Want unlimited music included as part of your Foxtel subscription? Foxtel's music audio channels are powered by Stingray. Now you can take the music with you On your mobile, computer, and tablet. Simply download the Stingray Mobile Music app, hold your device up to any of the Foxtel Music audio channels to authenticate the app, and you're good to go. Music for wherever life takes you with Foxtel and the Stingray Music app.

Hey, could you come back at another time? Afraid not, Bob.

Jeez.

Please tell me what's going on here. Our group of friends has been playing the same game of tag for 30 years.

What?

You never know when someone's gonna pop up.

Our buddy Jerry, never been tagged.

Oh boy.

Go, go, go!

Ahhh!

Amateurs.

Tag.

Rent it now in Foxtel Store. Join me for First Edition and AIM Agenda every weekday on Sky News. Broadcasting live from here at Parliament House, I ask the questions that are pivotal to the nation's future, going beyond the headlines and often setting the agenda for the rest of the day. I speak to Australia's leaders and hold to account representatives from across the political divide.

So make sure you join me for First Edition and AM Agenda on Sky News.

The Mortgage and Finance Association of Australia says there's more than $300 billion in loans coming off interest only over the next 3 to 4 years, and the peak body for mortgage brokers estimates that 20% of the borrowers of these loans will struggle to refinance due to tighter lending policies by the banks. So what impact will this have on the property market, and how do you protect your borrowing capacity and cash flow Amid these lending changes, I was joined earlier by Marissa Schulze, Director with Rise High Financial Solutions and an active property investor herself, for her insights.

Yeah, absolutely. I mean, we're seeing a change in the lending environment currently, and that's, you know, obviously that means that things are changing for homeowners and also investors. You know, we're seeing that it's a lot harder to extend your interest-only periods and certainly get interest-only approvals, which has traditionally been the preferred option for property investors to have their investment loans interest-only. So it's going to be a really interesting environment moving forward as, you know, as it becomes a bit harder to extend those interest-only periods.

Is there a particular type of buyer? I mean, you said investors obviously prefer interest only, and it's made sense in the past, obviously, but are you finding that people more at risk have bought a particular type of property?

Look, I think that traditionally interest only, you know, many investors have opted for the interest only option, and we're starting to see a bit of a shift now, and that's for a number of reasons. We're starting to see a bit of a shift because there is more attractive interest rates if they are willing to consider principal and interest repayments, so that's obviously helping. But traditionally we have seen even some homeowners wanting to opt for a short term of interest only. That may be because they're going through a period where their family is growing and they needed a bit more cash flow during that period, or maybe they want to do some renovations to their house, so they've opted for an interest-only loan for a short term so that they can allocate their extra cash towards improving their home or buying their furniture or, you know, going through the periods of maternity leave and things like that. So there's definitely, there's definitely justifiable reasons why interest only is good for short periods of time. I guess the, the risk that we see moving forward now is that, you know, traditionally it's been quite easy to extend interest only periods with many of the lenders where it's just required a simple rollover, whereas now we're seeing an environment where to extend the interest only period We're looking at a full reassessment. So that means basically a full loan application.

Right, so it doesn't just mean that your repayments go up, it means you have to reapply?

You actually— well, if you want to extend your interest-only period. If you're quite comfortable to revert to a principal and interest repayment at the end of your interest-only term, then there's no need to do anything.

But for your average mortgage holder, how much will that repayment change by?

That's the interesting thing because a lot of people don't realize that, let's say you get a 30-year loan term and let's say for example you've had 5 years interest only and then your loan will revert to principal and interest. That means you'll be paying principal and interest over a 25-year term. So if you're paying principal and interest over a 25-year term, you might see a 30 to 40% increase in your repayment when you, when you go from interest only to principal and interest. But where it's going to start to get tricky is where you've got some borrowers who have extended their interest-only periods. Like, for example, there would be some investors that maybe originally took out a 30-year loan term and have renewed their interest-only periods a couple of times, and maybe at the time when it reverts to principal and interest, they've only got 15 years remaining on their loan term, which means that they then have to pay the entire principal over a reduced 15-year term, which means their repayments could probably more than double.

Wow.

You know, so you're talking about a big impact to cash flow, and that's what, you know, that's what all borrowers need to be aware of. And they really need to understand, well, when is their interest-only period going to expire and what is their remaining loan term going to be to work out how much is their repayment going to jump to ensure that they can still comfortably afford that increased repayment in their cash flow.

It's still discretionary to a point for the banks, isn't it? As you said, you can renegotiate and extend that interest only.

Well, it's actually getting harder, you know, with everything that's going on with the Royal Commission. You know, banks are definitely tightening up on policy, and it's fair to say that your borrowing capacity— everyone's borrowing capacity has substantially reduced from what it was 12 months ago to what it is now. And that's because of a number of policy changes that the banks are making. And so it's not that easy to just necessarily renegotiate. If you are in a really strong financial position and you have the borrowing capacity to renegotiate your loans, then absolutely that's an option for you. But there will be a few people that will struggle to be able to reapply for the same debt levels that they currently have.

Well, the main reason people were doing it though was so they could go and borrow more money and buy another property though. Yeah, not everybody, but obviously many investors were doing it that way. Kept their cash flow available so that they could then increase their borrowing. So I guess if you've overextended yourself, you know, there's a huge amount of risk associated with that, right?

Yeah, well, I mean, it's interesting that you have that angle that definitely, you know, having the interest-only loan does free up some some cash flow, but it actually tightens your servicing capacity. Because when you're borrowing money and you're applying for an interest-only facility, when the banks plug that into the servicing calculator, when they look at your servicing capabilities, they're actually calculating the principal and interest over a shorter loan term.

Right.

So actually applying for interest-only loans and having long-term interest-only periods is actually reducing your borrowing capacity. So whilst it does help with your cash flow from a day-to-day perspective, it's actually making your— tightening your borrowing capacity from the bank's perspective.

Will a great deal of people have to default?

Look, I don't think so. I mean, I think there will be some people that will feel the pinch, especially if they've had— if they have really reduced principal and interest terms. But I think it's just a really good opportunity for everyone to really understand their cash flow, really understand their living expenses and their budget, and ensure that they are proactive and not waiting until their interest-only periods are about to expire. You know, doing something now. If you know you've got a loan that's going to— interest-only is going to expire in 2 to 3 years, don't wait until then. Have a plan now so that you can work towards it. You know, definitely if people just ignore it and have the wait-and-see approach, You know, they might find it a bit tricky when it comes time to reverting to principal and interest. So we're really encouraging all of our clients and everyone that we speak to to get really proactive with it and, you know, action it straight away and have a plan. Work with a really good mortgage broker who can understand your situation, understand what the risks are involved, and have a plan. You know, that's the best way moving forward, and if you do that, you'll be fine.

Having a plan, great advice. We're going to a break now, but when we come back, we're heading to Craigieburn for a preview of our last live auction for the day.

Ever wanted to trade places with someone with real wealth? Wonder how they make their fortunes? Some say it's destiny. We say it's something you can learn. At Learn to Trade, we'll show you how you can turn your knowledge into action and trade foreign exchange. Why trade forex? It's the largest market in the world. And the greater the volatility, the greater the profit potential. Trade up to a lifestyle you deserve now. Register now for the Learn to Trade Forex Workshop. Get one-on-one coaching in a live trading floor. Learn what to trade and when. 5 simple yet incredibly powerful trading strategies. The risk management formula that limits your risk to 2%. If you are serious about making money, get serious about Taking action. Your destiny is in your hands. Register now for the free Forex workshop. Call 1-800-720-964 or go online, but hurry, seats are limited.

It's been a while since we had one of these talks. It wasn't that long ago we were fighting just to stay alive, but it's not like that anymore.

Start talking about making some moves.

We on the same side, Rick?

The new season of The Walking Dead begins Monday, October 8th on Showcase, or stream on demand.

And everyone's screaming when the—

Yeah, oh my goodness me, if he doesn't calm down, he might just pop.

You wouldn't bet against Patrick Reed following him in. Yeah, I know why we're here. Save the dinosaurs from an island that's about to explode. What could go wrong?

What is that thing?

They made it.

These creatures don't need our Protection. They need our asses.

You gotta be kidding me.

You've entered a new era. Welcome to Jurassic World.

Jurassic World: Fallen Kingdom, available September 26th in Foxtel Store.

So what do you want for your birthday?

I want a TV.

Oh, hey, why don't you watch where you're going, eh?

What was that?

There you go, mate.

What are these idiots doing? The world is full of shit.

Yeah, and you know why?

Because people let them get away with it. You right, old man.

So in your mind, you've done society a favor?

Yeah.

Mr.

In Between begins Monday, October 1st on Showcase.

My mother was a very secretive and private woman.

She had private rituals, private friends, which maybe explains me.

Sometimes I swear I can feel them in the room.

She isn't gone.

The masterpiece that takes horror to a whole new level.

Hereditary, rent it now in Foxtel Store. I've worked in this building nearly 20 years now, and I can honestly say I've never seen it as unpredictable as it is today. When we get wind of something happening that you need to know about, We're straight on air with it. You can also join me weekday afternoons and Sunday mornings. I talk to the movers and shakers in here, ask them the tough questions, sometimes the awkward and uncomfortable questions. We're not pushing any agendas, we're just trying to hold them all to account. So if you care about what's happening in the nation, take a look. No one covers politics like Sky News.

Welcome back to Sky News Real Estate. We're just getting ready to start previewing our last live auction of the day, but we've seen some great auctions today, haven't we, Todd? You joined us about 3 auctions ago, didn't you?

That's how you count.

Are you losing count? That's how we measure blocks of time.

Yeah, yeah. The last one was a great one, wasn't it, in Camp Hill? We saw that one go for $811,000, which was a bit more than we were expecting. And also, you were here for the The apartment in Preston?

I think we've seen that a little bit today. I think it was the Adelaide one that was probably on point. I think the other 2 have been a little bit over than certainly what I was expecting for sure.

Alright, well we've got one last one to take a look at. This is in Craigieburn. It's a family home on a great plot of land with endless opportunities. It's number 30 Longtown Court, and we're joined now for a preview by Ray White selling agent Daniel Diamantopoulos. Daniel, good afternoon to you. Hey, Philly, about the auction due to unfold shortly.

Yeah, quite pumped, quite pumped actually. There's a few cars rolling up now, which should be fantastic. There's a few bidders hopefully here today. It's a lovely sunny day here in good old Craigieburn, so very quiet little location. So I can't wait to get this one started, that's for sure.

Yeah, tell us a bit about what this property's got going for it.

Yeah, so we've got 3 great-sized bedrooms on offer. We've got a great parcel of land which is just over 700 square meters, which is Dream development potential here for those investors that are interested as well to add to their portfolio. For first home buyers, there should be a lot of activity, which is exciting stuff ahead. I guess it's close to schools, shops, and public transport, all within very, very close reach. So I think that's what's attracting and ticking a lot of boxes for those buyers here today.

Now from where I sit, I'm hearing about Craigieburn a lot. Why would that be?

Well, I guess we're still a very affordable pocket of Craigieburn, and I'd say for the first-time buyers, it's still within reach. Up to $600,000 is still within that stamp duty savings, so there should be a lot of activity, especially with the auctions that we've had today. We've just come off the back of another 2 which were sold very successfully, multiple bidders. There's still that frenzy out here, which is fantastic, and despite what the media says, I think it's doing pretty good out this way in Craigieburn.

Now, you mentioned investors might be interested in this one. Is this something they'd be looking to land bank, or is Is it something that they'd sort of act on immediately?

Yeah, I think something that's quite immediately, you've got the home which is very well presented. For long-term options, you've got that beautiful big backyard which you could probably retain the existing and then build something at the back of it whilst keeping the front property intact. I guess that's what's sparking a bit of interest from the crowd that could be potentially coming through today. So yeah, happy days.

And what have first home buyers said about the property? What do they think that they'd like to do with it? They could move in as is and enjoy it the way it is now?

Yeah, absolutely. So first home buyers, I mean, you've got pretty much everything's done for them to simply move in and enjoy. The home's been freshly repainted, it's got sufficient heating and cooling, it's got great off-street parking, a double car garage, and I guess, you know, it's within that sort of range, within that $450,000 to sort of $499,000 is what we think we've been quoting. for the 4-week duration. I think that's why it's enticing that first home buyer to the forefront here today.

And is that a realistic guide, do you think, or are we going to see that price push up quite a bit higher once the bidding starts?

Well, it's the million-dollar question. I've been asked that a lot today, and, you know, we just never know until obviously the bidding starts. It's obviously worth a lot more to some, could be worth less to others. So logic and emotion today, who knows what what's going to happen, but I'm excited to show you what it's all about at 2 o'clock. And yeah, can't wait to get this one revved up.

Yep, Daniel, I'm excited too. We've seen a lot of great auctions here today, and I'm sure that's going to be yet another one. We look forward to checking back in with you at 2 o'clock.

Fantastic. Thank you so much, guys.

See you soon.

Earlier in the week, I was joined by Prestige Property reporter Mel Cahayas for a look at this week's luxury listings.

It's beautiful. It's a Hamptons-inspired home on almost 5 hectares of land. And of course, as you'd expect of a property in Dural, it does have its own equestrian facilities. So there is state-of-the-art horse stables there with a tack room and dressage arena, along with a There's a swimming pool and a championship-sized tennis court outside as well. So that's just a snippet of what's on the outside. Inside, as you can see, there are beautiful open-plan living areas, an incredible kitchen that we just saw there. There are 6 bedrooms, 6 bathrooms, an additional 2 powder rooms, and an incredible main bedroom that of course has all of the luxuries you would expect of this kind of bedroom. There's also a formal lounge room and a formal dining room, a conservatory, and a gym or media room, and a study.

Wow, it's just extraordinary. And with these sorts of homes, you think people who sell them, like, where do they go? How do you replicate that lifestyle once you've had it?

I think you'd probably have to downsize from this, surely.

There can be no upsizing from there.

No. But in addition to all of the other stuff that's going on outside of the property, there's There's also a dam and bore. There are rolling lawns and a number of outdoor entertainment areas as well. So there's plenty of space to entertain family and friends inside or out, and you can keep an active lifestyle on the tennis court there.

So you'd get active just walking to the bathroom, I think.

I think so. You wouldn't have to leave this property at all. It's only a 40-minute drive from Sydney and very close to the heart of Dural as well. So I think that I would just Just get my deliveries, my deliveries to the front door and never have to leave.

Yeah, never leave. Yep, just make your friends come to you. And how much is that on the market for?

This has a guide of $7.328 million.

Right, yeah, and lots of similar-sized estates in the same area, but this is clearly a standout.

Yeah, really incredible. It's— Dural's well known for its sprawling estates, and I think this one, I definitely wouldn't mind purchasing it if I had the Well, who wouldn't?

Well, this is one that I'd like actually. This one's in New South Wales, sort of in the hinterland, Doonan, beautiful part of the world. And this house is just extraordinary. It really makes the most of its environment, doesn't it?

Yeah, so this house has been christened Doonan Glass House, and it is exactly that. It looks like a house made of glass, floor to ceiling glass in all the living areas and bedrooms. It was designed by architect Sarah Waller. It's got 5 bedrooms and 5 bathrooms, and it's just an 18-minute drive to Noosa Heads. But I mean, again, where would you want to go when you've got this? There's a swimming pool, outdoor entertaining area, and it is surrounded by that beautiful greenery as well. It's also got an award-winning kitchen, open-plan living spaces, and white terrazzo stone floors throughout. The main bedroom has a custom custom-built walk-in wardrobe and an ensuite bathroom with underfloor heating. There's also an Italian-made bath and tiles in there and heated towel rails. And if that wasn't enough in the bathroom, there's also a secluded outdoor freestanding bath and shower and plenty of other beautiful areas throughout the home. There's that pool that we saw with the cabana. There's also a fire pit, and around the property there's actually a hidden dog fence. So if you wanted to keep as many animals as you like. They're not going to get anywhere. They've got so much space to run around on anyway.

I didn't know you could hide a dog fence. How about that?

Yeah, it's pretty cool.

And it looks like it hasn't even been lived in. Is this brand new?

It's recently built, but the vendors are selling to move on, and they've obviously really enjoyed living in the property, and now it's Yeah, just stunning.

I wish that buyer was me. Now, Bargara, a resort sort of up close to Fraser Island, could be the ultimate trophy home for someone who wants to do a bit of a makeover.

Yes, so this is quite an interesting one. It's called Zen Beach Resort, and when the owners bought it, it was actually a rundown backpackers hostel. They completely gutted it. They knocked down half the structure, rebuilt it in their own way, and now it's actually had interest from buyers looking to transform it from a resort to a trophy home, as you mentioned. Currently, it accommodates up to 22 people with 4 2-bedroom villas. It's right on the water there, and the owners are looking to move on. They want to travel a little bit more. Their family is living in Sorry, not just interstate but also internationally. And yeah, lots of interest from buyers who want to actually convert it into just the one residence and have a really incredible trophy home.

Because they put a lot of love into this place, didn't they? It used to be a backpackers or something. They've converted the whole thing.

Yeah, and it's on 5 titles, so they've done a lot of work to it to make it what it is today. And one of the owners is actually an interior stylist So she's put a lot of her own kind of feel into those internal spaces and has created a really interesting property.

Yeah, it's a really stunning property. It'd be interesting to see who does manage to snap that one up because, as you said, they've had interest from everywhere, haven't they?

Yes, all over the country.

Something very different again. Now let's go to Northcote in Melbourne. This is a bit of an architectural masterpiece, isn't it?

Yeah, so quite interesting this one.

Yes.

Even when just looking at it from the outside, it's got an incredible facade there with those— that timber cladding that you can see. It's got 4 bedrooms, 3 bathrooms, and 2 car spaces, and has a guide of $2.2 to $2.42 million. It's got multiple living areas throughout, as well as split between 2 levels there. There's double glazing on all of the windows, and as you could have— you saw there, there's— it's pretty much floor-to-ceiling there as well, so you can look right out. The interiors have a bit of timber throughout as well. It's got a real natural feel about the property, and there is hydronic heating, cooling, and of course security all throughout. So that's pretty cool. It's got a 6-star energy rating there as well. So there's just so much. In this property, and I think it's a really, really cool one, something different.

Yeah, it's something really different, isn't it? Do you know much about what the price guide is on that one?

Yes, so they're looking for $2.2 to $2.42 million.

Which would be sort of the top end of the Northcote market, wouldn't it?

Yeah, I think so.

Lots more Sky News Real Estate coming up when we return after this break.

Ever wanted to trade places with someone with real wealth? Wonder how they make their fortunes? Some say it's destiny. We say it's something you can learn. At Learn to Trade, we'll show you how you can turn your knowledge into action and trade foreign exchange. Why trade forex? It's the largest market in the world, and the greater the volatility, the greater the profit potential. Trade up to a lifestyle you deserve now. Register now for the Learn to Trade Forex Workshop. Get one-on-one coaching in a live trading floor. Learn what to trade and when. 5 simple yet incredibly powerful trading strategies. The risk management formula that limits your risk to 2%. If you are serious about making money, get serious about taking action. Your destiny is in your hands. Register now for the free Forex Workshop. Call 1-800-720-964 or go online, but hurry, seats are limited.

Rise and rise again, like the phoenix from the ashes, until the lambs have become lions, waking into a daybreak that's wondrously clear.

Rise and rise again.

Yeah, I know why we're here. Save the dinosaurs from an island that's about to explode.

What could go wrong?

What is that thing?

They made it.

These creatures don't need our protection.

They need our answers.

You gotta be kidding me.

We've entered a new era. Welcome to Jurassic World.

Jurassic World: Fallen Kingdom, available September 26th in Foxtel Store.

So what do you want for your birthday? I want a TV.

Oh hey, why don't you watch where you're going, eh?

What was that?

There you go, mate. What are these idiots doing? The world is full of Yeah, you know why? Because people let him get away with it. You right, old man?

So in your mind, you've done society a favor?

Yeah. Mr.

In Between begins Monday, October 1st on Showcase.

I mean, don't even act like you know what I'm talking about.

You want to be there for me or you want to be against me? I mean, look at that.

You never know what's around the corner. You make a mistake and you can never take that back.

Let the fist bumping begin. We're trying to stay strong. Next level here!

We got this. Earlier in the week, for our market panel answering your property questions, I was joined by Doug Driscoll, the CEO of Star Partners, and Helen Tarrant, a commercial property expert. Queensland, he says, I'm assuming Nixaman, I'm thinking of offloading one of my properties but can't decide which one to sell. I'm torn between a 2-bedroom unit in Coggera, New South Wales, and a 3-bedroom house in Labrador, Queensland. How do I decide which property to sell now because I can't hold them both? Doug, I might get you to start off on this one. This must be something you're seeing quite a bit of at the moment as the market changes. People are having to rationalize their portfolios a bit, and particularly with interest-only loans being phased out. What firstly is your advice to people who do need to downsize their portfolio? And also in this instance, would you look to Coggera or Labrador?

Well, look, firstly, the first rule of property investment I was taught is only sell if you really have to. Well, I'm assuming Nick's gone through all the measures and spoken to his accountant, financial advisor. So on the proviso, it is a last resort, they're the obvious stuff. Firstly, look at cash flow. So obviously, what sort of yield are both properties producing? And maybe look at the, the better of the two to keep. Also, you've got things like capital gains, of course. You know, again, unfortunately, we all have to pay that when selling property. But other than that, I would look in a far broader sense. I'd look at the market here and now and also, as best you can, look into the future. So if we looked at the here and now, obviously the South Sydney market is somewhat subdued, whereas the Gold Coast is fairly robust and very strong. But when you look into the future, you may find there are things like large infrastructure projects about to be planned in one of the two areas, which obviously have a positive impact on property prices. Conversely, you may well find that there are, you know, hundreds if not thousands of apartments being planned for one of the two areas. And that's a positive thing? Again, that's going to have an impact or an implication. So look at the market as it is today, but as best you can, gaze into that crystal ball and try to predict the future, and ultimately that will determine which of the two you should sell.

Really broadly speaking, would you be looking to the Gold Coast or Sydney at the moment as a place to see some capital growth in the next 5 to 10 years?

It depends on the investment strategy, but if it is medium to long term, so 5 to 10 years, I would say that Sydney will come back strong. Certainly in the first probably 3 to 5 years, Gold Coast is probably the better bet. But when you start getting to 7 and 10 years and beyond, I would say Sydney has that bounce-back ability.

Right, okay. Helen, let's go to you now in Brisbane tonight. What would be your advice to Nick on this question?

Hello Sophie, good evening. Now if it was me, I look at some historic data of the traditional growth in that, in Coggera, as well as look at Labrador, as well as what's been doing in the last 12 months. But in terms of long term, I always think that land is going to ultimately give you a higher growth. And when you are investing in residential, most people are chasing for that capital growth. So for me, while I don't have a crystal ball and I can't for sure go, okay, next, next round of capital growth, you can get better in Sydney or or in Queensland or in Labrador, I would be picking land over an apartment, especially now there's a bit of an oversupply of apartments in that Cogra area in Sydney.

Alright, thanks Helen. Okay, now this next question is from Wayne of Sydney and he says, I'm thinking of offloading one of my properties but can't decide which to sell. Oh sorry, we've just had that, that was from Nick. Here's Wayne's question. I've managed I've managed to save up $80,000 over the last couple of years. Should I buy another property or pay off my current investment properties? Helen, do you want to jump in first on this one? What's your advice when it comes to investment strategies on this one?

Well, for myself, it depends on what stage you are in in your investment journey. So if you're in the accumulation stage, then I would definitely say look at buying another The other thing is, is it looks like where his property portfolios are, because it could mean that if he's got a lot of his property in one state, that he may actually want to use that $80,000 and spread that risk and buy in a different state. So I would be leaning towards buying another property if you can, if you can service another property, especially in this market where it's been pulled back a little bit, so you could pick up a bargain or two.

And which property, which Which sort of property markets would you be looking to, Helen?

So for myself, I'll probably be looking at Queensland at the moment. For $80,000, if it was at 80% LVR, you'd be looking at about $400,000 if you're taking some costs and stuff on top of that. So in New South Wales or in Sydney, you wouldn't be able to get a lot for that. So for me, you would be able to maybe even get in Queensland maybe even a house or a larger apartment, so I'll be leaning towards buying in Queensland.

Okay, Doug, let's bring you in on this one now. With $80,000, would you be paying down your loans or extending your portfolio further?

There is a very complex answer to that question which involves all manner of different things, including compound interest on existing home loans. But if I looked at it in a very rudimentary sense, I would actually say that by buying the second property, if it may, that's exactly what I would do. You get 2 properties with capital appreciation.

Right, and where would you be looking? What sort of markets would you be looking? Do you agree with Helen's slant on Queensland?

Absolutely, yeah, but again, it depends on your strategy, you know, whether it be short, medium, or long term. Helen referenced the property buying journey. I would always say in this case as well, look at life journey. It depends on the age of someone, so if they're investing at, say, 60 years old, they may not to reap the benefits. So there are so many variables, that's why property investing is so complex, I guess.

Yeah, okay. Now we'll move on to Sarah in Victoria. She says, my husband and I have reached our borrowing limit, so we can't buy any more properties. How do you optimize your portfolio when you're not buying? Helen, why don't you jump in first on this one?

Thanks for that. So with— if you're maxed out your borrowing capacity, one of the things I would be looking at is really holding the value of your property, making sure that your value of your property doesn't drop over the time where the market's had a bit of a pullback. So maybe that would require you saving up a bit of a buffer and using that maybe to renovate the property, tidy up the property, looking at maybe doing extension on the property to really maintain that value and to hold on to that value as we go through a market that is stable or going a little bit, having a bit of a pullback. The other alternative is that while you may not be able to access your equity through residential, if you invest in a cash flow positive property through commercial, you could access your equity that way and be able to service both the equity and the commercial loan. So it is worthwhile to consider other elements, but definitely if you're just looking at your own portfolio and holding on to it, I would say keep the value up and increase— look at ways to increase that value even incrementally so that you're not affected by the market.

What's a simple way for people to sort of add a commercial property to their portfolio?

Well, firstly, to look at properties that is going to be positively geared. So a property that will sit 2 or 3% above the lending rate So if the lending rate at the moment for commercial is roughly about 5%, you want to be looking at a 7% yielding property. Now that may mean you might not be able to buy in Sydney or Melbourne, but you could look at regional areas like Ballarat, or you can look at Albury-Wodonga, or even look at the Brisbane area between the Gold Coast and the Sunshine Strip where you could get 7% yielding properties that's going to allow you to service the loan but also the drawdown and equity. So you could still move forward Without really feeling like you're constrained by your serviceability.

What sort of commercial properties are you talking about? Shopfronts or office spaces?

At the moment, I would probably be looking at properties that are either office space type properties or smaller warehouse type property because they're very versatile and they're very changeable from one type of tenant to another, whereas retail is having a bit of a bad rap and of Of course, we know that the changing nature of online shopping has really affected a bit of retail, so I would be leaning more towards office and warehouse where you can have different types of tenants, so it makes it really easy to retenant.

Right, okay.

It's always interesting to hear from Helen because we don't hear that perspective a lot. You know, we talk so much about real estate and, you know, residential side of it rather than the commercial side, so it's good to have Helen's take on that. What would your advice be to Sarah from Victoria. Of course, you know, we don't know exactly how many properties she has, but it's— we might have to just extrapolate and imagine what her portfolio might be.

Well, as always, sage advice, Helen. And obviously, look, speak to a tax expert, make sure you are getting the very best benefits, because there are so many of these legal loopholes nowadays where you can extrapolate best value. One of the products one of our home loan partners just launched, actually, which is, I think, ingenious and somewhat innovative, allows you to offset the rate. So say, I'll hypothesize if I may, you have a property which the person resides in, so Sarah's main place of residence, and then investment property. Say both of them, you know, there's $500,000 debt or loan on both, and they're both about 4% interest rate. What you can actually do is offset. So you can reduce the interest component on the main residence, say down to about 2%, and increase it on the investment property to about 6%, then obviously you get the capital gains— sorry, the negative gearing appreciation and so on and so forth. So there are a number of ingenious ways out there, but it's about engaging experts and asking the right questions of the right people.

And looking to buy more properties isn't always the answer, is it?

No, not really. As I said, there are some obvious solutions right in front of you. I mean, that innovative home loan is a great option, and if Sarah should want to know more, then She can obviously reach out to me independently, but absolutely, I think people often think the more properties, the more money, the more profit. Not always the way.

What is the danger of extending your property portfolio just for the sake of having more properties? It can be sort of a problem if you've just got quantity and not quality, can't it?

Well, if you haven't got enough equity in them, then you're exposed to a great deal of risk. I mean, as we've just seen with the market, it's very fickle, you know, and it doesn't always go up. Sometimes it does come down. I think we almost have this sense of entitlement where we believe that, as I said, property prices are going to continue increasing forever, but they won't. They do come down and they may continue to come down. So have enough equity, have enough sort of buffer in there so that, you know, you're not exposed to that risk and it's more comfortable.

Yeah, well, CoreLogic's Pain and Gain report was out this week and once again at least 1 in 10 properties sells at a loss. No matter, regardless of the market.

That's right.

Alright, Andrew from New South Wales sent us this question. He said, I've signed a contract on a 3-year-old house without doing a building and pest inspection. Can I pull out if I find issues with the property? Helen, do you want to start us off on this one? Is it ever safe to assume that just because a property is 3 years old, you're probably fine?

You can never assume that a property is fine just because it's a new property because it might have been during the process of developing, the developer or the builder cut some corners so you might have waterproofing issues or any of those structural issues. So it's never really safe to assume that. But there is a cooling-off period in contract so he could utilize that cooling-off period there to pull out of the contract if he wanted to or he could actually organize a pest and builder While he's during that cooling-off period, which probably would be the best way if he's really keen on that property.

Doug, I'm sure you'd give very similar advice on that one.

I wouldn't just encourage your viewers to get a pest and build, I'd implore them to do so because it doesn't matter what the age of a property would be, 100 years old or 100 days old, there are always issues. And I think a lot of people see it as an unnecessary cost. I see it as investment, you know, so absolutely couldn't concur more with what Helen said. In regards to can you pull out, well yes, theoretically if it's a private treaty you can pull out at any stage pre-settlement. So whether it be during the calling off where you may just sacrifice the 0.25% or upon unconditional exchange where you lose the 10%. But if you are pulling out, you know, upon unconditional exchange, you may well not lose the 10%, you may also incur the out-of-pocket expenses from the vendor as well.

It's a sunk cost if you do pull out of Obviously, but, and that can be a real deterrent for some people, but what are the consequences of getting it wrong?

Well, I mean, if you've done it right by getting the pest and building, you've done your due diligence, you've researched the market, you've done everything, and you've left no stone left unturned, there really shouldn't be a reason why you would ever get it wrong. But it's financially painful if you have a change of heart, change of circumstances. You may well sacrifice that 0.25% or even worse, that 10%.

Doug Driscoll and Helen Tarrant, our experts on this week's panel. Do stay with us after the break. We're heading back to Craigieburn to watch our last live auction of the day unfold.

Looking for a hotel? Nobody beats Mr. Convincing on price.

Really?

Their price, hotels combined price.

Their price, hotels combined price.

Don't be fooled.

Before you book, Check Hotels Combined.

Hotels Combined. I heard your ship's the fastest in the galaxy.

Punch it!

I might be the only person who knows what you really are.

Julie!

What's that?

You are the good guy.

Solo: A Star Wars Story, available to rent October 3rd in Foxtel Store. I didn't come here to have fun.

Wanna watch Foxtel wherever you want? Download the new Foxtel Go app, sign in, and you're away. Register multiple devices, watch 2 at the same time, now in HD. Choose between live TV and Foxtel On Demand. Create your own watchlist To stream movies, drama, sport, and more. And if you have multi-room, you can cast from a device to the big screen.

Foxtel Go. It's just one way we're bringing more to your Foxtel subscription.

Wow.

On the next Richo, you're going to be surprised because the next Richo is Tuesday, not Wednesday. I am on twice next week. Jones and Credlin are off, but I'll be there battling on for you. Now I've got Bill Crews coming on. Bill Crews is a great Australian.

We're going to learn a lot about homelessness.

It's one of those ugly issues that people don't like to talk about, but talk about it we shall.

I'm also trying to get Matt Canavan, and I think we're going to have one hell of a show.

And Wednesday, who knows, it'll be even better. That's a promise. Make sure you're there Tuesday and Wednesday, 8 o'clock. Coming up on Mundine Means Business, an award-winning program that has benefited both a multinational mining company and Aboriginal people in a small rural community.

I think it's a really wonderful opportunity that Downer have given PCYC and our local community.

It's really good to be involved.

It's really helped me.

Changed my whole life.

To see the skills they develop is sensational.

It's just a magnificent thing and I could not be happier to be part of it.

Mundine Means Business, Sunday, proudly presented by Westpac.

The Wentworth by-election will decide if the Coalition keeps its majority and provide critical momentum one way or the other.

Or the other in the lead-up to the federal election.

This week, all 3 main candidates will join me for Kinney on Sunday on Sky News Live.

This is Sky News Real Estate.

Let's take a look back at one of our open homes from earlier today. At 3 Warringah Road is a luxurious Mosman house with harbour views and only a short stroll down to Balmoral Beach. It's now on the market and we were joined earlier on the phone by Avenue's selling agent Adrian Bridges to show us around.

Yeah, g'day, how you going? Beautiful day in Mosman. This has got to be one of my favourite houses I've ever brought to market. It's 10 years old, but the design is impeccable, looking over Chinaman's Beach, north-facing, views all the way out to Qantas, and the house is turnkey. There's absolutely nothing you're going to have to do to it when you buy it.

Yeah, tell us a bit about what that lifestyle is like. I mean, you've mentioned Chinaman's Beach, but for people who aren't familiar with Mosman, it's got a lot going for it, doesn't it?

Mosman's an amazing suburb, and there's lots of special little pockets. This one in particular It's not Balmoral Beach, it's further around to the north looking over Chinaman's, which is a private beach, beautiful dog park down there. It's such a nice suburb and a very exclusive part of Mosman. Very rarely do homes come up in this area.

Now you said the house is 10 years old. Can you tell us a bit about the way it was designed when it was built?

So they've designed it for entertaining and designed it to embrace the north. It's a very low-maintenance house sitting on just under 600 square meters of land, but the house covers 3 levels, so you can easily accommodate a large family in the property. There's a rumpus room on the basement level, but what I really love is the master bedroom, which supposedly was crafted based on a suite from the Ritz-Carlton in Hong Kong. So I can definitely vibe with that. And if you have a look at the photos, The way the ensuite, the bath looks out over the water, you can kind of see where they're coming from.

Yeah, we are looking at those pictures now and it is just magnificent.

Incredible.

Now what's the price guide you've been giving on this one, Adrian?

So we've got expectations just north of $10 million and the feedback's been really good so far. In fact, this part of the market is incredibly strong.

There's a lot of confidence at the moment. Yeah, tell me about that part of the market in Mossman. Has it been holding up? It's sort of the level below that house which is struggling more, isn't it?

Look, we're getting great results between the $5 and $15 million range, which I know is a big range, but there's such a diversity of buyers. It's not just dominated by the foreign investors at the moment. Whilst they're still present, we're seeing a lot of local families upgrading from their homes, even a lot of people from different parts of Sydney, eastern suburbs and Upper North Shore. Looking to come into Balmoral and Mosman to get their trophy home. So it's a huge diversity of buyers of all age groups as well. And given this home with its low maintenance and level access, we've got downsizers as well as young families and even some executive couples that are seeing this as a place to start their family. So they're very lucky that it sits in that segment.

Yeah, sounds like it's got appeal to everyone. Well, everyone with $10 million, that is. Enjoy that open home today, Adrian. Thanks for talking to us.

Our pleasure. Thank you.

Right, it's time to head back to Craigieburn now to watch our last live auction of the day get underway.

Deposit struck at 5% or 10% of your contract signing and the balance to be paid within 30, 45 days, or 60 days' time, unless of course you've made some prior arrangements with myself. Or one of my colleagues. They shall be the standard terms of today's proceeding. Now, along with any auction you attend in the state of Victoria, folks, there are a number of rules that I must make you aware of, and they are as follows: that today's auction is conducted in accordance with the rules and any additional conditions that were made available for inspection to you all prior to the start of this auction. The auction rules prohibit an auctioneer like me accepting a bid from any of you lovely buyers simply after this property has been—

Sold.

Knocked down to the successful bidder. So what that basically means, once I simply say first, second, third, and final call and this contract hits my hand, it just means I can't take any further bids from that point onwards should we have surpassed my vendor's reserve price. And on that note, according to my humble opinion, the vendors have set a very realistic reserve price for your consideration. And as the auctioneer, I'll be indicating bidders On request and determining how the bidding is to be advanced today. The law prohibits false bids, prohibits major disruptions by bidders, prohibits bidders attempting to prevent others from bidding, and provides fines for this conduct. The rules of today's auction also permit for vendor bids. The words I'll use during the auction to indicate I'm making a bid on behalf of my vendor are simply vendor bid, and by law, only I as the auctioneer can make a vendor bid. Also attached to your contract of sale is more commonly known to as a Section 32. I've had loads of requests for this document over the course of the camp. But it simply shows here that we are covered by the City of Hume planning scheme and we are zoned to be in a beautiful residential location. All your services being gas, electricity, water, telephone, and sewerage are all available and connected. And the title— wowee, the most important document of all— shows we're on some 703 meters squared of prime Craigieburn real estate.

Woo!

Well, well, the home itself, judging by your attendance here today, it's generated quite a lot of interest. And why wouldn't it when you simply look at what's on offer? Whether you're a first-time buyer in the crowd, investor, downsizer, upsizer, tick every single box on your must-have wish list with this sensational bit of real estate here behind me. And if that's not enough, underpinning your family's future is a location to match. Walking distance to schools, shops, train station, public services. It's all here, right at your fingertips. You can throw away your car keys forever. This is probably the loudest this court has been for many, many years. Lots of proud owners in the street here ready to welcome the new buyers into your beautiful community. I won't ramble on too much. All the selling's been done over the weeks. We're here to find out who the lucky buyer's gonna be. So this is where we go to work. Ray White Craigieburn. Start me where you like, folks, with an opening start bid or offer. Feel free to let me know what you think right here. Who'd like to kick me off? Where does our love blossom? Perhaps anywhere with an opening bid or offer. I'm in your hands. My only race where the first— the last person finishes first, I should say. Start me where you like, folks, anywhere at all. Doesn't matter where we start, it's where we finish that counts. Some nervous faces in the crowd. It's okay, the cameras are not pointed at you. It's all good, unless you want them to be. G'day, mate, good to see you. Very quickly, I think people are going to start to throw tomatoes at me if I didn't get an opening start there. At $400,000 and off we go, the competition's been lit. At $400,000 and welcome to the bidding, sir. The best of luck to you and the family. At $400,000 now, take $10,000 in the rise, and off we go. At $400,000 now, seeking $10,000 in the rise, otherwise I'll call it 3 times. This will be the quickest auction ever. Once at $400,000, twice at $400,000, for the third and final call at $400,000. Well, $410,000. G'day, good to see you. Nearly lost it there. At $410,000 now, it's against you, sir, at $20,000 if you like. At $420,000 is the call now, $410,000 is the bid. At $410,000 the bid now, $420,000 is what I see. At $410,000 now, $20,000 to get you back involved. You can't just tease me on one bid, it is just cruel. At $410,000 now, $20,000 is the call, what do you say? Feel free to jump back on top to get you back in contention. At $420,000 the call now, what do you say, sir? Calling it 3 times. Why's everyone gotta wait till I do 1, 2, 3?

$420,000.

$450,000, that's what I like to see. Where did you come from? G'day, mate, good to see you. And about the 6th inspection, but let's get this one for you now at $450,000 and end those realestate.com searches. At $450,000, boom, that's the way you bid. At $450,000 now, $460,000 if you like. At $450,000 now, $460,000, it's against you, sir. $470,000 if you wish, or you can just round me up to $500,000 if you like and cancel everyone out.

At $450,000.

$460,000 is the bid now, $470,000 is the call. At $460,000 now, $470,000 if you wish. At $470,000, is that right, sir? Quick nod of the head will do it. At $470,000 now, $480,000 to get you back involved. At $480,000 is the call now, $470,000 is the bid. At $470,000 now, $480,000. Good man. At $480,000— $490,000. Sorry, I missed it there. At $490,000, round me up to half a million. It may get there. Let's make it your bid. Dream dimensions in the future. Folks, if you can retain the existing build right at the back, that'll be superb, subject to council approval of course. At $490,000 now on the market, and we're selling at $490,000. I'm calling it 3 times. Once at $490,000. $495,000. At $500,000 now, offer the courtesy of $500,000. At $505,000 now. $505,000 to get you back involved. At $505,000 is the bid now. What do you say to $510,000, sir?

$510,000.

Give it to me, give it to me straight. $505,000. $10,000's the call. Once at $505,000. Is that $10,000? Twice at $505,000, the bid. For the third and final call, $505,000. We all done here?

$510,000.

At $510,000 against you, sir. What do you say to $515,000? At $515,000 now, $520,000 the best. At $515,000 now and a few more noughts, that's all we have. At $515,000 now, point 10 of this auction. Take any bid if you want to put that forward. At $515,000 now, $520,000 the best. What do you say, sir? We all done outside and finished? It'll break my heart, man. You've been here all this, this whole time. We've invested some moments here, mate.

I'm sorry, I I'm sorry.

was about to charge you rent every time you had an inspection here. Back onto realestate.com searches. Ray White Craigieburn. Can you get your weekends back? Surely that's another $5,000 just to have your weekends back, or $2,500 to get you back involved. Once at $515,000. Twice at $515,000. The bid, $516,000. I'll take that because we're on the market and selling. I'll offer the courtesy of one, or you can round me up to $20,000. Probably knock him out at $516,000 now. If you like, you can go to $20,000 or play in ones. It's all good. My last auction. The sun is shining, I'm smiling, the vendors inside are also smiling.

$517,000.

Why not have it your way at $517,000 now? After years of ownership, there'll be tears of joy and tears of sadness for them. At $517,000 now, one's the call, or you can round me up to $520,000. Let's go back up there. Very quiet to my right here. You registered bidders, one opportunity. Once it's gone, it is gone for good. I won't have anything to replace it this afternoon, that's for sure. Brody, an extra $5,000 in today's bidding is about, oh, $7 to $8 a week on repayments. It's not a great deal of money. You can buy a bottle of water for $4, man. Drink from the tap if you need to buy a home. It'll break my heart. You're all done, all out. No last-minute bids accepted here. Where are we at, Andrew? Wowee, that $517,000 there, fiercely contested. Well, we didn't We didn't really start, guys, but I can tempt you into the auction arena if you wish. Get some shade, this is quite hot here. At $517,000 now on the market and changing hands, we are playing for keeps. Keys are in your pocket. Exciting times. What was that bid, sir?

$1,000.

G'day, good to see you.

Nearly lost it there.

Where have you been? Come down here, please. $518,000, there's your new competition. At $518,000 now, $20,000 and off we go again. At $520,000 now, quick bids, a good bid, let's stamp your dominance here. At $520,000 the bid now, $521,000 if you like, or you can play in 5s or 10s, or round me up to $600,000. That'll be nice, wouldn't it? $520,000 now, one more. At $521,000. At $521,000. Now at $521,000, at $521,000 the bid. At $525,000, is that right, the call? What's that, another half a million on top? I'm just kidding. At $521,500, at $521,500 the new bid. Now you can play in 500s or 1,000s. I'd really like a roundup of $525,000 if that helps.

$525,000.

That's the way to do it. At $525,000 now, thank you. Seek and you shall find. At $525,000 the bid now, the bids It's quite clear at $525,000, at $525,000 now. What is your next move? It's against you, sir. Can I get you back involved? You can't let him steal it from the end.

Another one.

At $526,000, at $526,000 now. At the back there, what do you say? Round me up to $530,000, change it up a little bit perhaps. At $526,000 the bid now. What do you say, sir? Can I tempt you back in? We're all done. Has our love ended? Oh, we're just starting to get to know each other. One more? What's one more? 60 cents a week roughly on repayments. That's a McDonald's cone. Okay, buy a piece of real estate today. $526,000, the bid. $526,000. They're very quiet here. Attempt you into the auction arena. Do any last-minute surprises? $526,000. Are we all done? Out, son, finished. We are changing hands. We're on the market and selling. No better bidder offer. We wind it up again. Take that as a no. You should be going this way. Have it your way. Very quiet to my right here. We all done? All out? Once at $526,000. Exciting times ahead for you. Twice at $526,000. Wowee, wouldn't that be lovely? For the third and final call at $526,000. 100% out.

$527,000.

$527,000. Where'd you come from, people? At $527,000 now. At $527,000, and off we go again. New fresh First bidder, and another one to contend with, my man. Just when you thought you had defeated your competition, a sneaky last-minute bid. $528,000 now. Round me up to $30,000, sir. At $528,000, the bid now. At $528,000, the bid. $528,000, the bid now. On the phone to the bank manager. Don't worry, we've got Loan Market here in the crowd. They'll tell you, don't stress, it's all good.

$528,000.

Still record lows on those interest repayments. $528,000. You can't just tease me with one bid. Grab the bull by the horn like your hat says. Let's get it done. Once at $528,000. Now twice at $528,000. Once it's gone, it's gone. For the third And final call. Their hearts are thumping out of their chest. Another $500 at $528,500 now. $529,000. $529,000. You want to see me work? Adrian, check his pockets there. Check under that hat. Is there any money? He needs to let me know right now.

$529,000.

$529,000.

$529,000.

I'll leave it up to you.

Cool customer.

Cool, calm, and collected. Love those shades, by the way. Wish I had some myself right now. We'll have a chat to him. Give you a moment to collect your thoughts. A bit of patience here. I'll do the same thing if I was selling your home. Lots at stake. Once he gives me the signal, the signal is clear, that is all done, all out. Once at $529,000. Twice at $529,000, the bid. For the third and final call at $529,000. You can't end it on odd numbers like that. You need to give me another one. $530,000.

$530,000.

Last roll of the dice. If you bid again and they bid again, you've lost nothing. But if you bid again and they don't bid again, you've gained it all— keys and everything. Champagne bottle you can pop open within 30 to 45 days' time. Do not have your real estate regret moment when you drive here. Hard Hard to believe the way the market is still heading. Could be worth about a million bucks in 10 years. You won't even remember what you paid today. I'll give him a moment. Lots at stake here. Once, twice, third and final call before they chase me down the street. Another one?

$530,000.

At $530,000 now. Competition is fierce at $530,000. Nobody wants to let this one go. At $530,000 now on the market and selling at $530,000. Tell us, what do you say, sir? What's your next move? Can I see another $1,000 or $5,000? I reckon if you go to $540,000, that could seal it up. I know I'm a cheeky bloke. It could do the business. Could that be the one? Lots at stake here, Brody. We've definitely seen your best. Still breaking my heart, by the way. Back onto the pavement, back flicking through newspapers. A lot of talk here to my left. I'll give them ample opportunity, just like I gave you that ample opportunity. At $530,000 now. Bidding for great reason. Another $500. $530,500. What is our next move? Nominate your next rise. Don't mind, give you a moment. $530,500 now, etching very close to ownership here. Once at $500,000, at $30,500. $31,000. Could have been, should have been, but unfortunately wasn't your bid. Was that the one?

No.

All this whole time, you're gonna let him sneak in at the end? Are you sure? Out of cash. So we've emptied your pockets. This is no good. He's gonna sell the car for a chance to own real estate. To sell the car, why not? $531,000, my man. It looks like you've defeated your competition. Do I have any last-minute surprises?

No.

This is gonna break my heart. You're definitely done. You're all out. Permission to sell this, gentlemen?

Yes, please.

I kind of like that, Andrew. Well, let that be, ladies and gentlemen. Get ready to congratulate the new owner because we are selling. You're definitely done at the back there. Seen your absolute best in final. Thank you for your competition, Brodie. 100% done. Out Silent, thank you also for your competition. Have we seen everybody's best? Because we are selling, selling! So congratulations, massive round of applause, folks. Commiserations to the ones that missed out.

Wow, very energetic auction there from agent and auctioneer Daniel Diamond.

Top of Fabulous.

I want to go there and give him a Butamethol because I am feeling for his vocal cords after that.

He seriously needs it. Yep. And probably been hyperventilating a little bit as well there, I think, as well. But he worked for that one. That's potential. Yeah, that's right. Sold!

Yet another one. They've all been sold today. A very successful day at auction for people around the country today.

Absolutely.

What did you think of the price point there?

Yeah, from having a look around, it seems to be pretty well spot on, to be honest, from what else I've actually had a look at and what else I've seen. So certainly it's only there for a family, nice family area and all that type of stuff. I dare say good affordable range for people to be able to live in, proximity to everything they need there, which is great. So I mean, it's just kind of vanilla real estate really.

That's what it is.

Yeah, very family-friendly suburb and home, that one. Sold in 2005 for $208,000, so a pretty sizable gain in the last 10 years.

In the last decade anyway. Yeah, you know, hey, this is the whole double in 10 years little formula we're talking about here, almost anyway. So, um, yeah, I think they've done okay. I think they've done okay. But yep, auctioneer, hats off to him. He worked for it.

He certainly did work for it. He's earned himself a beer this afternoon, that's for sure. And a butter We're going to go to a quick break now, but lots more Sky News Real Estate when we return after this break. I get it, everyone is busy.

You've got busy lives, busy jobs, and politics is not always front of mind, but it matters.

Boy, it matters. So if you've had a busy week, join me, I'll wrap it all up and set you up for next week. Uh, Sean, Pat, Nathan, you're on my team.

Go!

Morning everyone, welcome to Fox Cricket Gilly.

A pleasure to be here.

Flats it is.

We'll have a bat.

Coming, steams in.

Micko's gone. Oh, it's gone more! Hold on, this is coming around and she's unbelievable! This is cricket like never before! Hey, could you come back at another time?

Afraid not, Bob.

Jeez.

Please tell me what's going on here.

Our group of friends has been playing the same game of tag for 30 years.

What?

You never know when someone's gonna pop up.

Our buddy Jerry, never been tagged.

Oh boy.

Go, go, go!

Amateurs. Tag.

Rent it now in Foxtel Store. On the next Richo, you're going to be surprised because the next Richo is Tuesday, not Wednesday. I am on twice next week. Jones and Credlin are off, but I'll be there battling on for you. Now I've got Bill Crews coming on. Bill Crews is a great Australian.

We're going to learn a lot about homelessness.

It's one of those ugly issues that people don't like to talk about, but talk about it we shall. I'm also trying to get Matt Canavan, and I think we're going to have one hell of a show. And Wednesday, who knows, it'll be even better.

That's a promise.

Make sure you're there Tuesday and Wednesday, 8 o'clock.

I think ScoMo's going great guns, but it's not about what I think, it's what you think.

Australians can trust our government.

The latest Newspoll will be released.

Up, down, or a hell of a long way to go?

You'll find out first, only on Sky News Live.

My regular co-host James Treble has been in Italy buying tiles or something really important like that, but I've been lucky enough to have Todd Polke helping me out today. And Todd, you were trying really well to explain blockchain and crypto to me and how that relates to property. Is there a simple way to get that message across?

Yeah, and I know it's really challenging to get your head around. It's just something so, so new, but I still think it's so important people stick their heads in. Look, I really think rather than talking about the blockchain and how it works, it's more just understanding, well, what impact is it going to have on the market? That's really what we need to understand. And fundamentally, it's going to make property more accessible for people to be able to access. It's going to make it Meaning that people can get in at a cheaper type of level. It's going to make it more liquid so we don't have to buy or sell an entire property now. It's kind of parts of it. You're actually getting down to that. It's going to cut down on transfer fees as well. So all the stamp duties and things that we pay along the way in transferring titles and also make transactions cheaper. And so when we look at some of the challenges that we're seeing in the property market and how property is getting more and more expensive. This blockchain technology is really going to come in and actually solve a lot of these problems. Now, it's not something which is going to happen, you know, straight away. It's still a timeframe, but it is being implemented step by step, and the level of adoption is at a level that most people don't quite realize and don't quite understand just yet. But it's coming, and it really does have the potential to have a big impact on the marketplace for sure.

How soon do you think it's coming? When will it reach sort of critical mass?

Yeah, I mean, most people are talking about by around 2022. So when we start talking about this next kind of 3 to 5 year period, I think we're going to see some really, really significant changes in the market. So, and one of the big things they're talking about is that it's going to impact a lot of the middlemen, so to speak, in the market. So this is why mortgage brokers, this is why This is why real estate agents, this is why solicitors, this is why a lot of people really need to look at how this might actually impact their industry.

Alright, and the best place to direct people to find that information?

Yes, I mean, there's loads of different places to look at it, but, you know, again, one of the projects I'm working on in terms of the real estate and blockchain space is www.concrete.io. And so people should check it out and just have a look at it, even out of interest's sake, and start to learn about it, because I think it's gonna be really important.

All right, I need to start to learn about that too because I'm really struggling to wrap my head around it at this point. Todd Polke, thanks so much for stepping up today.

Absolutely a pleasure.

It's been delightful to have you here. Thanks for joining us today on Sky News Real Estate.