2-Sense: Pattern book housing proposal, buyer FOMO and what Australia will look like in 2063

Welcome to this week's edition of 2 Sense on The Australian Property Podcast, where we break down the biggest news headlines of the week and tell you what this really means for you. Mortgage Broker Chris Bates and Buyer's Agent Pete Wargent talk about pattern book housing, stronger market dynamics, and the future of Australia. Story 1: Pattern book housing proposal for NSW A new proposal launched by Housing Group Now to speed up the supply The proposal: 375,000 dwellings in 5 years, building up 30 medium-density suburbs across the city Benefits: Supply increases if it speeds up building approvals and projects Risks: Quantity over quality, cutting of corners, defects, etc  Story 2: Stronger market dynamics, could buyer FOMO explode? With the rate on hold for the 3rd consecutive month and household consumption now slowing, buyer FOMO is set to explode Listings rose in August in Sydney and Melbourne as vendor confidence grows Westpac calling next move down in 2024  Story 3: Intergenerational report reveals what Australia could look like in 2063 Population projections 43 million in 2063 (we usually overshoot the projections) Estimate large ageing population and young migrants The healthcare sector will require huge investment and employment (noteworthy for housing and commercial property too)  The expectation is that there will be a large investment in renewables Tax: Australia may need to shift the focus away from income taxes which are already very high, towards other forms of tax e.g. inheritance, land tax, higher GST etc Australian Property Podcast resources: Story 1 - Pattern Book Housing Story 2 - Buyer FOMO Story 3 - Intergenerational report Pete's Blog Australian Property Podcast online - videos, notes & resources Ask a question Chris' mortgage broking Amy's new property course Amy's 100-point checklist (PDF) Pete Wargent's property coaching Join Owen's Rask Core  membership for $0.99 INFORMATION WARNING! This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc. Learn more about your ad choices. Visit megaphone.fm/adchoices