The Elephant In The Room Property Podcast | Inside Australian Real Estate

When you hire a property advisor, there’s an assumption built into that decision: you’re getting expertise, guidance, and some level of protection if things go wrong. But how much of that protection actually exists—and where does it break down? In this episode, we unpack the role of Professional Indemnity (PI) insurance in property advice, and what it really tells you about accountability, risk, and the quality of advice you’re relying on. Joining us is Polina Kesov, an insurance specialist with over two decades of experience working behind the scenes on claims, risk, and policy structures. Together, we explore the blurred line between “execution” and “advice,” why many buyer’s agents and property investment advisors may not be properly covered for the services they’re offering, and how something as simple as a policy exclusion can leave both advisors and clients exposed. We also dive into why claims in property advice are so rare—not because everything is working, but because proving loss is complex, delayed, and often not actionable. From cookie-cutter strategies and disclaimers to the growing use of AI in advice, this episode breaks down the structural gaps that most investors never see until it’s too late. If you’re relying on professional guidance to make high-stakes property decisions, this conversation will change how you assess risk. Because in property, it’s not just about whether the investment performs—it’s about what happens if the advice behind it doesn’t. Episode Highlights 04:17 — Can Property Advisors Actually Get Covered? 06:01 — What Makes a Property Advice Claim Valid? 09:25 — Repeat Offenders and the Lack of Transparency 11:42 — Marketing Hype vs Where Advice Crosses the Line 16:10 — How Claims Impact Insurance Renewals 21:01 — Real Claims Against Buyer’s Agents Explained 24:55 — Why Insurers Act as Hidden Risk Partners 27:52 — How to Choose the Right PI Insurance Cover 29:58 — What a Certificate of Currency Really Tells You 31:44 — Why You Must Verify Advice Scope in Writing 33:40 — Multiple Claims: A Major Red Flag 35:45 — Licensing Gaps and Disclosure Obligations 37:57 — AI Advice: Who’s Liable When It Goes Wrong? 39:38 — What Questions Should You Ask an Advisor? 41:14 — Why Property Advice Claims Stay So Low 47:47 — SMSFs and Trusts: Where Advice Gets Risky 50:14 — Vicarious Liability: How Risk Spreads Fast 53:22 — Key Takeaways Every Investor Should Know About the Guest Polina Kesov is an insurance advisor with over 20 years of experience working alongside Australian businesses on risk, claims, and insurance coverage. Specialising in professional indemnity, she has a deep understanding of how advisors are assessed, insured, and held accountable when things go wrong. Throughout her career, Polina has worked closely with professionals across the property, finance, and advisory sectors, giving her a unique, behind-the-scenes perspective on how claims are evaluated and where systems succeed—or fail. Her expertise extends beyond policy setup into real-world outcomes, including how insurers interpret liability, manage disputes, and determine whether a claim is paid. Known for her practical, no-nonsense approach, Polina is passionate about improving awareness around risk and helping both professionals and consumers understand the fine print that often gets overlooked. Her insights offer a rare look into the mechanics of protection in the property industry—where assumptions don’t always match reality. Connect with Polina LinkedIn - Polina KesovLinkedIn - Insurance Insights AustraliaWebsite - Insurance Insights AustraliaInstagram - Polina Kesov Resources https://www.theelephantintheroom.com.auquestions@theelephantintheroom.com.auhttps://www.gooddeeds.com.auhttps://www.veronicamorgan.com.aualcove.com.auchrisbates@alcove.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in...

Capital gains tax reform and negative gearing have become central to Australia’s housing debate—but are these policies actually capable of improving affordability? In this episode, we unpack the real role of tax settings in the property market and question whether current reform discussions are addressing the right problem. The conversation explores how capital gains tax discounts work in practice, why they exist, and what changes could mean for investor behaviour. We also dive into the broader housing ecosystem—covering rental vacancy rates, population growth, and the heavy reliance on private investors to supply rental housing. Along the way, the episode challenges the assumption that reducing investor incentives will automatically improve affordability. A key theme is unintended consequences. What happens if investors exit the market? Where does that capital go? And how might changes to CGT or negative gearing impact rental supply, development activity, and long-term housing outcomes? The discussion also touches on the rise of build-to-rent, government incentives, and the shift toward institutional investment. This episode offers a grounded, data-informed perspective for investors trying to navigate policy uncertainty. Instead of reacting to headlines, listeners are encouraged to think critically about how incentives shape supply—and why meaningful housing reform requires more than just tax changes. Episode Highlights 01:20 — Meet Cameron Kusher & His Market Perspective 04:41 — Investors, Rentals & Why Supply Is So Tight 15:52 — Why New Build Incentives Matter More Than Ever 19:41 — Foreign Capital: Help or Housing Distortion? 27:11 — Tax Deductions: What Investors Actually Claim 29:00 — Should Investor Tax Benefits Be Capped? 30:31 — Portfolio Building: Smart Strategy or Risky Hype? 32:42 — Why Incentives Should Focus on New Supply 34:28 — Apartments: The Missing Piece in Supply Fix 36:18 — Developer Costs: What’s Really Holding Builds Back 39:07 — Government Housing: What Are the Real Options? 41:21 — Rate Fears & Falling Confidence in Property 45:45 — Where the Property Market Could Go Next 48:12 — Build Costs and the Supply Feedback Loop 49:26 — Final Thoughts & Key Takeaways for Investors About the Guest Cameron Kusher is a highly respected property market analyst with decades of experience interpreting housing data and market trends across Australia. His work focuses on understanding how policy decisions, economic conditions, and demographic shifts influence real-world housing outcomes. With a background in analysing property cycles and investor behaviour, Cameron brings a practical, evidence-based perspective to complex policy discussions. He is known for cutting through political narratives and focusing on what the data actually shows—particularly when it comes to housing supply, affordability, and the role of investors in the market. His insights help bridge the gap between policy theory and market reality, making him a trusted voice for investors seeking clarity in an often noisy and opinion-driven space. Connect with Cameron Cameron Kusher - Independent | property market strategist | Helping real estate businesses, developers & lenders make better decisions with dataKusher ConsultingKusher Consulting’s LinkedIn Resources https://www.theelephantintheroom.com.auquestions@theelephantintheroom.com.auhttps://www.gooddeeds.com.auhttps://www.veronicamorgan.com.aualcove.com.auchrisbates@alcove.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in real estate. Your journey starts now! YouTube:https://www.youtube.com/@theelephantintheroom-podcastApple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share...

Fixing housing supply in Australia has become one of the biggest policy challenges of our time—but turning reform into actual homes on the ground is where things start to break down. In this episode, we sit down with NSW Planning Minister Paul Scully to unpack what’s really happening behind the state’s aggressive housing push, and whether these reforms can deliver at the scale required. This conversation goes beyond headlines and policy announcements. It dives into the structural issues holding back housing supply in Australia—from feasibility constraints and construction bottlenecks to community resistance and the limits of zoning reform. While initiatives like transport-oriented development and low-to-mid rise planning changes aim to unlock supply, the reality is far more complex than simply increasing density. We also explore the gap between approvals and delivery—why thousands of homes can sit in the pipeline without ever being built. From financing barriers and labour shortages to the economics of development, this episode breaks down what actually determines whether a project moves forward or stalls. If you’re trying to understand where the housing market is heading, this is the conversation that connects policy to real-world outcomes. Because in the end, the question isn’t whether we can plan for more housing—it’s whether we can actually deliver it. Episode Highlights 01:59 — Why Housing Reform Is Finally Happening Now 04:00 — Why Housing Is the “Everything Problem” 07:41 — Transport-Oriented Development: The Big Bet 12:26 — Design Quality vs Density: Can We Have Both? 24:37 — Community Backlash vs Housing Equity 26:42 — Why Key Workers Can’t Afford to Live Nearby 28:46 — Downsizing Myth: Does It Really Free Up Supply? 32:22 — Three Practical Ways to Increase Housing Supply 33:57 — Inside the Push for Social Housing Investment 37:49 — Why Approved Projects Still Don’t Get Built 39:00 — Cutting Red Tape: What’s Actually Changing 40:32 — Finance Guarantees and the Labour Shortage 44:40 — Using Every Lever to Fix Housing Supply 47:54 — Industry Consultation: What’s Working, What’s Not 50:12 — Housing Delivery Authority: What’s Changed 52:58 — Final Thoughts: Property, Policy, and Reality About the Guest Paul Scully is the NSW Minister for Planning and Public Spaces, responsible for overseeing one of the most ambitious housing reform agendas in the state’s history. His portfolio sits at the centre of efforts to address housing supply in Australia, including planning system overhauls, transport-oriented development policies, and initiatives to accelerate housing delivery. With direct oversight of both policy design and implementation, Paul brings a rare, inside-the-system perspective on the challenges of turning housing strategy into real outcomes. His work focuses not just on increasing approvals, but on addressing the deeper constraints—feasibility, infrastructure, and coordination—that determine whether homes actually get built. Connect with Paul Paul Scully - Minister for Planning and Public Spaces at NSW Government and Member for Wollongong | LinkedInPaul Scully MPPaul Scully MP (@PaulScullyWollongong) • FacebookPaul Scully MP (@paulscullymp)Paul Scully MP (@paulscullymp) / Posts / X Resources https://www.theelephantintheroom.com.auquestions@theelephantintheroom.com.auhttps://www.gooddeeds.com.auhttps://www.veronicamorgan.com.aualcove.com.auchrisbates@alcove.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in real estate. Your journey starts now! YouTube:https://www.youtube.com/@theelephantintheroom-podcastApple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so...

For many Australians trying to enter the property market, the promise of buying a home with just a 5% deposit sounds like a breakthrough. Government-backed schemes designed to support first home buyers have made headlines, but how much do they actually help buyers in practice? And what happens when thousands of buyers suddenly gain access to the same opportunity? In this episode, Veronica and Chris sit down with mortgage broker and National First Home Buyer Specialist Jack Elliott to unpack how first home buyer schemes actually work from the lending side. They explore the mechanics behind borrowing capacity, the role banks play in approving these loans, and the reality buyers face when trying to secure property in an increasingly competitive entry-level market. The conversation also dives into the unintended consequences of these policies. While schemes like the First Home Guarantee can lower the barrier to entry, they can also increase competition in the very markets first home buyers are targeting. As more buyers gain access to financing, the question becomes whether these policies truly improve affordability—or simply shift the dynamics of demand. If you're considering buying your first property or trying to understand how government incentives shape the market, this episode offers a grounded look at how these schemes operate in the real world—and what buyers need to know before stepping in. Episode Highlights 00:34 — Meet Mortgage Broker Jack Elliott 04:41 — How the First Home Guarantee Scheme Works 06:36 — The Hidden Risks of 95% Home Loans 12:48 — Buyer Rush and Rising Market Competition 17:19 — Eligibility Rules First Buyers Must Understand 19:39 — Planning for Long-Term Home Ownership 24:51 — Price Caps and the Resale Ceiling Problem 27:11 — How Bigger Deposits Change Buyer Strategy 28:22 — When First Home Buyers Should Use a Buyers Agent 32:05 — Why First Home Buyers Struggle to Enter the Market 35:30 — Why Patience Matters in a Hot Property Market 37:24 — Why Property Can Be Easier to Sell Than Buy 42:49 — Who Should Consider Shared Equity Schemes 47:09 — New Loan Products Buyers Should Watch 49:05 — Policy Risks Around New Build Incentives 54:06 — The Danger of Buying Property in a Rush 55:13 — Final Advice for First Home Buyers About the Guest Jack Elliott is a mortgage broker and National First Home Buyer Specialist who works directly with Australian home buyers navigating the lending process. Through his work, Jack helps clients understand their borrowing capacity, structure loan applications, and secure financing across a range of lenders. With day-to-day exposure to how banks assess risk, deposits, and borrower profiles, Jack brings a practical perspective on how lending policies and government incentives influence the property market. His experience working with first home buyers provides valuable insight into the challenges many Australians face when trying to secure their first home. Connect with Jack Jack’s LinkedInAlcove Mortgage AdvisoryFirst Home UnlockedFirst Home Unlocked | Podcast on SpotifyFirst Home Unlocked - PodcastFirst Home Unlocked - YouTubeFirst Home Unlocked (@firsthomeunlocked) • Instagram photos and videosFirst Home UnlockedFirst Home Unlocked’s TikTokFirst Home Unlocked’s LinkedIn Resources https://www.theelephantintheroom.com.auquestions@theelephantintheroom.com.auhttps://www.gooddeeds.com.auhttps://www.veronicamorgan.com.aualcove.com.auchrisbates@alcove.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in real estate. Your journey starts now! YouTube:https://www.youtube.com/@theelephantintheroom-podcastApple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXCathy0?si=26cde394fa854765 If you enjoyed today’s podcast, don’t forget to subscribe,...

The success of a property development project is heavily influenced at the site selection stage. Before construction begins, developers assess land based on planning controls, feasibility, and long-term project viability. In this episode, Veronica and Chris speak with Ryan Bennetts, a site acquisition and origination specialist who works directly with developers to identify and secure development opportunities. Ryan explains how developers assess planning controls, evaluate zoning potential, and calculate residual land values before making offers that can run into the millions. The conversation also explores the complex negotiations involved in assembling development sites, particularly when multiple property owners or strata buildings are involved. With governments introducing new rezoning policies and transport-oriented development initiatives, the development landscape is rapidly changing. Suddenly, many suburban properties are being targeted by developers, and some homeowners are receiving offers far above traditional market value. But as Ryan explains, not every property benefits equally—and the process of turning land into a viable development site can take years. If you’ve ever wondered how developers identify development opportunities, how land values change after rezoning, or what happens when your property becomes part of a potential development site, this episode pulls back the curtain on the realities of site acquisition. Episode Highlights 01:22 — Meet Site Acquisition Expert Ryan Bennetts 03:04 — How Developers Hunt for Rezoning Opportunities 07:27 — Why 75% Approval Still Isn’t Enough 09:19 — How Rezoning Reforms Changed the Game 17:39 — Creative Deal Structures and Playing the Long Game 20:51 — Where Development Deals Usually Fall Apart 23:38 — Holdouts, Negotiations, and Owner Leverage 24:52 — The Myth of Unlimited Developer Capacity 25:44 — How Developers Diversify Their Projects 26:45 — Why Sydney and Melbourne Feasibilities Differ 27:29 — Builder Insolvencies and Development Risk 29:09 — Why Some Developers Build In-House 30:34 — The Migration Shift Helping Melbourne 33:00 — Builder Shortages Meet Development Demand 36:25 — Feasibility Sensitivities Developers Watch Closely 38:41 — Conditional vs Unconditional Site Deals 41:25 — Why Rezoning Doesn’t Guarantee Approval 47:09 — The Rise of Build-to-Rent in Australia 48:49 — Final Thoughts and Listener Questions About the Guest Ryan Bennetts is a site acquisition and origination specialist working with property developers to identify and secure development opportunities. His work focuses on sourcing development sites, analysing planning controls, negotiating with landowners, and structuring deals that allow developers to assemble and acquire land for future projects. This often involves complex negotiations with multiple property owners and navigating planning frameworks that determine what can ultimately be built on a site. Because Ryan operates at the very front end of the development process, he has unique insight into how developers determine land value, assess rezoning opportunities, and decide which sites are worth pursuing. His experience provides a rare behind-the-scenes look at how development projects begin long before construction ever starts. Connect with Ryan Ryan Bennetts - Head of Acquisitions at Central Element | LinkedIn Resources https://www.theelephantintheroom.com.auquestions@theelephantintheroom.com.auhttps://www.gooddeeds.com.auhttps://www.veronicamorgan.com.aualcove.com.auchrisbates@alcove.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in real estate. Your journey starts now! YouTube:https://www.youtube.com/@theelephantintheroom-podcastApple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Spotify:...

For years, we’ve treated housing affordability as a demand problem — interest rates, borrowing power, incentives. But what if the real issue sits deeper in the system? In this episode, we unpack the structural forces shaping Australia’s housing market, from planning constraints to policy decisions that have quietly restricted supply for decades. Joined by planning reform advocate Melissa Neighbor and economist Emilie Dye, we explore the structural issues baked into Australia’s housing system — from restrictive zoning laws and slow approval processes to the political incentives that favour existing homeowners. We also dive into the concept of “gentle density,” why three-storey townhouses could be a missing middle solution, and how cities like Auckland have used upzoning to stabilise housing pressures without crashing the market. But this isn’t just a supply story. We challenge the idea of housing as an investment vehicle versus a place to live, unpack intergenerational inequality, and examine why forcing people into renting can actually make them worse off. The conversation also tackles the uncomfortable reality: increasing supply may solve affordability — but not without trade-offs, including financial outcomes for buyers and resistance from existing communities. This episode cuts through the noise with a clear-eyed look at what needs to change — and what most people are still getting wrong about housing in Australia. If you care about affordability, investing, or the future of our cities, this is one you can’t afford to ignore. Episode Highlights 01:07 — Meet the Guests: Planning & Economics Perspectives 01:56 — What Does a Fair Housing System Look Like? 04:23 — Planning Restrictions and the Supply Bottleneck 06:40 — Why Reforms Are Facing Community Resistance 11:43 — Upzoning, Windfalls, and Affordability Trade-Offs 13:43 — Why Only Luxury Projects Are Getting Built 17:14 — Winning Public Support for Housing Reform 20:50 — Balancing Emotional Costs and Infrastructure Strain 23:41 — Why Sydney Must Embrace More Density 24:38 — Global Cities and Lessons for Housing Reform 26:55 — What’s Actually Being Built Across NSW 27:42 — The Reality of Upzoning in Established Suburbs 28:05 — Backlash, Compromise, and Policy Missteps 29:30 — How the Housing Crisis Forced Policy Change 30:23 — Should Housing Be an Investment or a Home? 47:19 — Final Thoughts and Listener Q’s About the Guests Melissa Neighbor is a town planner, community engagement expert, and co-founder of Sydney YIMBY, a movement advocating for increased housing supply and planning reform across New South Wales. With deep experience in urban planning and policy, Melissa is a leading voice in the push for more efficient housing delivery, better zoning outcomes, and meaningful community engagement in development decisions. Emilie Dye is an economist and commentator focused on intergenerational housing inequality and housing accessibility in Australia. Her work, including the widely discussed piece “Housing is Becoming a Pipe Dream for Young Australians,” has been featured across major national publications. Emilie brings a data-driven perspective to the housing debate, challenging conventional thinking around homeownership, affordability, and the role of housing in wealth creation. Connect with Melissa Melissa’s LinkedInMelissa’s InstagramMelissa’s XThe New IQ (website)Sky Planning (website) Connect with Emilie Emilie’s LinkedInEmilie’s X Resources https://www.theelephantintheroom.com.auquestions@theelephantintheroom.com.auhttps://www.gooddeeds.com.auhttps://www.veronicamorgan.com.aualcove.com.auchrisbates@alcove.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in real estate. Your journey starts now! YouTube:https://www.youtube.com/@theelephantintheroom-podcastApple Podcasts:...

When we talk about Australia’s housing crisis, interest rates and investors dominate the conversation—but the real drivers run deeper. In this episode, we unpack how Australian housing policy—particularly zoning and planning reform—is shaping the housing supply crisis, and whether strategic planning reform can genuinely improve affordability without destabilising the market. We explore the economics behind land scarcity, why middle suburbs have become effectively “locked up,” and how allowing three storey townhouses and gentle density could reshape housing supply. Brendan breaks down what broad upzoning actually means in practice, how Victoria and NSW are approaching reform differently, and whether these changes meaningfully shift feasibility for developers. For investors, this raises the bigger question: if scarcity underpins capital growth, what happens when supply constraints are relaxed? Does planning reform erode returns—or simply create a more functional market? If you care about Australian housing affordability, the housing supply crisis, or the long-term fundamentals of property investment, this episode cuts through the politics and gets to the economics. Episode Highlights 03:28 — It’s Planning Bans, Not Approval Delays 05:58 — The Real Demand for Missing Middle Housing 09:01 — Melbourne’s Affordability Trade-Off Explained 13:30 — Development Costs and Feasibility Realities 15:31 — The Hidden Zoning Tax on Housing Supply 18:06 — Why Townhouses Beat High-Rise in Suburbs 21:36 — The Economics of Three-Storey Townhouses 24:38 — Land Size, Lot Layouts and Buyer Preferences 26:26 — Property Advice and Strategic Thinking 27:33 — Sydney vs Melbourne: A Zoning Divide 29:01 — NIMBY Politics and the Density Debate 34:02 — Can Builders Deliver More Townhouses? 38:15 — What Global Upzoning Success Looks Like 39:12 — Unlocking Australia’s Locked-Up Suburbs 44:04 — Stamp Duty and Why People Don’t Move 48:45 — The Big Property Lesson from This Debate 49:49 — Final Takeaways and Listener Questions Links Planning better cities - Grattan InstituteMore homes, better cities: Letting more people live where they want About the Guest Brendan Coates is a leading housing and economic policy expert specialising in Australian housing policy and structural reform. His work focuses on planning reform, housing supply, taxation settings and the long-term drivers of housing affordability. With a strong grounding in economic modelling and public policy, Brendan brings evidence-based analysis to the debate around zoning reform, strategic planning reform, and the feasibility of medium-density housing such as three storey townhouses. His research examines how planning systems shape land scarcity, market outcomes and intergenerational equity. In this conversation, Brendan offers a measured and data-driven perspective on what it will actually take to address Australia’s housing supply crisis—and what that means for both homeowners and property investors. Connect with Brendan Brendan’s LinkedInGrattan Institute’s LinkedInGrattan Institute’s WebsiteGrattan Institute’s FacebookGrattan Institute’s YouTube Resources https://www.theelephantintheroom.com.auquestions@theelephantintheroom.com.auhttps://www.gooddeeds.com.auhttps://www.veronicamorgan.com.aualcove.com.auchrisbates@alcove.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in real estate. Your journey starts now! YouTube:https://www.youtube.com/@theelephantintheroom-podcastApple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXCathy0?si=26cde394fa854765 If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! See you on the inside, Veronica & Chris

For decades, the assumption was simple: by the time Australians reached retirement, the mortgage was gone. But that reality is changing fast. Today, more than half of Australians approaching retirement still carry housing debt—and it’s reshaping how households think about superannuation, the Age Pension, and the role of the family home. In this episode, Veronica and Chris sit down with retirement specialist Harry Chemay to unpack the growing debt burden among pre-retirees and what it means for the next generation of retirees. They explore why the traditional “pay off the home before retirement” rule is breaking down, how rising property prices and refinancing behaviour have changed the way Australians use housing equity, and why more people are drawing down their super simply to clear their mortgage. Harry explains the financial trade-offs between paying off your mortgage versus preserving superannuation, and why this decision can dramatically affect long-term retirement cash flow. The conversation also dives into reverse mortgages, equity release strategies, the Age Pension means test, and why downsizing isn’t always the straightforward solution many assume it to be. This episode challenges long-held assumptions about debt in retirement and highlights the need for better coordination between financial advisers, mortgage brokers, and retirement planners. Because in today’s housing market, the biggest asset most Australians own—the family home—may also be the key to making retirement work. Episode Highlights 01:13 – Meet Harry Chemay: Retirement and Wealth Strategy Expert 01:55 – From Robo Advice Startup to Retirement Strategy Specialist 03:33 – Why More Australians Are Reaching Retirement With Mortgages 08:46 – Generational Shifts, Lifestyle Choices and Mortgage Refinancing 10:36 – Why Retirees Are Using Super Withdrawals to Clear Housing Debt 25:14 – The Trade-Off: Paying Off Your Mortgage vs Preserving Super 26:22 – A Simple Cashflow Test for Retirees Carrying Mortgage Debt 27:17 – Case Study: Super Withdrawal vs Equity Release Outcomes 29:17 – Will Banks Start Lending More to Retirees and Older Borrowers? 32:07 – Australia’s $12 Trillion Housing Wealth Reality Explained 38:55 – Downsizing vs Aging in Place: The Retirement Housing Debate 42:04 – The Rise of New Retirement Living and Lifestyle Developments 43:31 – Rising Homeownership Costs and Why Early Planning Matters 46:20 – Rethinking Retirement Living: Building Your Own Community 47:37 – A Real Family Story of Moving Parents Later in Life 49:08 – Why Retirement Planning Needs a Holistic Advice Team 52:12 – Final Takeaways on Retirement Debt, Super and Housing Links The growing debt burden of retiring Australians About the Guest Harry Chemay is a retirement and wealth specialist with nearly three decades of experience across financial planning, wealth management, asset consulting, fintech, and superannuation product design. His work focuses on the decumulation phase of retirement, helping individuals and institutions design strategies that turn accumulated wealth into sustainable retirement income. Throughout his career, Harry has worked with major financial institutions including KPMG Financial Services, Colonial (State Bank of NSW / CBA), Mercer, and Howarth Financial Services. He was also a co-founder of the fintech platform Clover, one of Australia’s early robo-advice ventures designed to help younger Australians build wealth and save for their first home. Harry holds a Bachelor of Business in Banking and Finance from Monash University, a Graduate Diploma in Applied Finance and Investments (FINSIA), and a Graduate Certificate in Self-Managed Super Funds from the University of Adelaide. He has also previously held the Certified Financial Planner (CFP) and Certified Investment Management Analyst (CIMA) designations. His current work focuses on retirement income strategies and the evolving role of housing wealth in Australia’s retirement...

Many investors see property development as the natural “next step” — a faster way to manufacture growth and build equity. The reality is far less straightforward: most development sites that can be built on simply don’t make money. Rob Flux, founder of the Property Development Network, joins us to break down what really changes when you move from buy-and-hold to small-scale development. We explore why 90% of developable sites aren’t profitable, how feasibility is often misunderstood, and why “profit on cost” — not hype — should drive your decisions. Rob explains the importance of site selection, overlays and constraints, demographic targeting, and why solving the right problems is what developers actually get paid for. We also dive into the practical realities: commercial vs residential funding, entity structuring mistakes, contingency planning, holding costs, and the psychological traps that come with early success. Is development just leveraged investing — or is it an entirely different career path? And in a market facing a 1.2 million home shortfall, does that make development easier… or just more competitive? If you’ve ever considered “graduating” into development, this episode is your reality check. Development can accelerate wealth — but only if you treat it with the seriousness it demands. Otherwise, it’s just an expensive lesson. Episode Highlights 01:15 – Meet Rob Flux: From Investor to Developer 02:04 – Why Most Developers Fail (And Don’t See It Coming) 04:10 – The 10-Minute Site Test: Kill Bad Deals Fast 05:00 – Overlays, Constraints & Building What Sells 07:24 – The Development Sweet Spot (Before the Crowd) 14:59 – Funding Models & Why Time Is Your Enemy 21:14 – Market Cycles & Getting Product Fit Right 27:15 – Luxury vs Volume: Two Paths to Profit 28:47 – Where Population Growth Drives Real Demand 32:05 – Who Actually Makes It in Development? 33:44 – Feasibility 101: Profit on Cost Explained 38:24 – Contingency Buffers: Protecting Your Margin 39:31 – From Duplex to Six-Pack: Scaling Smart 47:52 – Real-World Mistakes & Final Takeaways About the Guest Rob Flux is a property developer, mentor, and founder of the Property Development Network (PDN), Australia’s largest community of active small-to-medium developers. With monthly meetups across Brisbane, Sydney, Melbourne, Adelaide, and Perth, PDN has become a leading education and mastermind platform for aspiring and experienced developers alike. Rob began investing at 18 and achieved financial independence by 38 — before a divorce forced him to rebuild from scratch. His first development deal delivered $1 million in profit, allowing him to leave his IT career and focus on development full time. Since then, he has refined his approach into a structured 7 Step Property Development Formula and continues to complete six- and seven-figure projects using creative acquisition and funding strategies. Beyond education, Rob serves on government advisory panels contributing to housing policy and planning reform across Australia. His mission is clear: to help 1,000 people achieve financial freedom by 2030 through smarter, more strategic property development. Connect with Rob LinkedInWebsiteFacebook Resources https://www.theelephantintheroom.com.auquestions@theelephantintheroom.com.auhttps://www.gooddeeds.com.auhttps://www.veronicamorgan.com.aualcove.com.auchrisbates@alcove.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in real estate. Your journey starts now! YouTube:https://www.youtube.com/@theelephantintheroom-podcastApple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXRob0?si=26cde394fa854765 If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along...

Granny flats are being sold as the answer to everything—housing affordability, rental yield, multigenerational living, even retirement planning. But once you get past the glossy numbers and council checklists, the reality is far more nuanced. In this episode, we sit down with Wally Gebrael, Co-Director at Granny Flat Solutions, to unpack what actually determines whether a granny flat works — and why so many builds quietly underperform. We break down the planning pathways (CDC vs DA), site constraints that kill feasibility, design mistakes that slash rental appeal, and the hidden costs investors rarely factor in. We also explore the bigger picture: how granny flats fit into Australia’s housing crisis, why quality and layout directly impact yield, and when a granny flat can genuinely improve cash flow, versus when it simply ties up capital. Wally shares real-world examples from thousands of builds, including what separates high-performing granny flats from regret purchases. If you’re considering building one — whether for family, flexibility, or investment — this episode will help you decide with clarity, not hype. Episode Highlights 00:20 — Meet the Expert: Wally Gebrael 03:12 — Financial Considerations and Value Addition 06:18 — Challenges in Building Granny Flats 08:44 — Council Regulations and Approval Process 12:56 — Cost and Budgeting for Granny Flats 23:59 — Designing Functional Spaces with a Wow Factor 24:22 — Balancing Cost and Value for Investors and Homeowners 25:37 — Optimal Granny Flat Designs 29:52 — Impact of Interest Rates on Investments 32:03 — Financial Considerations and Tax Implications 37:57 — Common Mistakes in Granny Flat Projects 43:43 — Final Thoughts and Listener Questions About the Guest Wally Gebrael is the Co-Director at Granny Flat Solutions, one of Australia’s leading specialists in secondary dwellings. Since establishing the business in 2011, Wally and his team have delivered more than 2,500 granny flats across NSW, navigating everything from straightforward CDC approvals to complex council applications involving flood zones, heritage overlays, and high-constraint sites. With over a decade at the coalface of design, approvals, and construction, Wally brings a grounded, practical perspective to the granny flat conversation. His insights aren’t theoretical—they’re based on real budgets, real rental outcomes, and the recurring mistakes homeowners and investors make when chasing “easy yield.” In a market saturated with oversimplified advice, Wally focuses on feasibility, function, and long-term performance—not sales-driven optimism. Connect with Wally Wally’s LinkedInGranny Flat Solutions’ LinkedInGranny Flat Solutions’ WebsiteGranny Flat Solutions’ InstagramGranny Flat Solutions’ Facebook

NSW has moved fast to reform its planning system, promising to unlock housing supply through sweeping state-led controls. But zoning uplift alone doesn’t build homes. In this episode, we ask the harder question many in property are thinking but few say out loud: is the system genuinely delivering housing, or quietly choking supply through feasibility constraints, delays, and unintended consequences? Joining us is James Oldknow, Special Counsel at Mills Oakley, who works daily at the sharp end of planning approvals, appeals, and the NSW Land & Environment Court. James breaks down why Transport Oriented Development (TOD) has produced little real-world uptake, while the Low-to-Mid Rise (LMR) policy is driving a surge of applications—particularly in Sydney’s most expensive, tightly held suburbs. We unpack how affordable housing incentives are being used to make projects stack up, why premium locations like Mosman, Waverley, and Woollahra are seeing the most change, and how the new Housing Delivery Authority is fast-tracking large projects while sidelining local controls. Along the way, we tackle design quality, heritage, infrastructure strain, and the emotional toll these changes are having on established communities. For investors, homeowners, and anyone exposed to property in NSW, this episode is a reality check. And if you’re wondering what could be coming in other states, this could be the canary in the coalmine. The reforms aren’t a silver bullet—but they are already reshaping values, neighbourhoods, and long-term decisions for those paying attention. Episode Highlights 00:00 — Introduction to NSW Planning System 01:33 — Meet the Expert: James Oldknow 04:41 — Challenges in TOD Applications 08:33 — LMR Policy and Its Impact 10:52 — Affordable Housing and Feasibility 16:42 — Community Concerns and Planning Rigors 26:53 — Development Typologies Across New South Wales 28:59 — Concerns About Centralized Authority 30:43 — Affordable Housing and Contribution Funds 32:17 — Infrastructure and Traffic Concerns 34:33 — Heritage and Environmental Considerations 43:29 — Navigating Development Consents and Modifications 45:29 — Final Thoughts and Advice About the Guest James Oldknow is Special Counsel in Mills Oakley’s Planning and Environment team, specialising in planning and development law across New South Wales. He advises landowners and developers on projects of all sizes and regularly appears before councils, planning panels, and the NSW Land & Environment Court. Working daily within the approvals and appeals system, James sees firsthand where projects stall, why others succeed, and how state policies like LMR, TOD, and the Housing Delivery Authority operate in practice—not theory. His perspective is grounded in real projects, real constraints, and real outcomes, making him uniquely placed to cut through the policy noise and explain what NSW’s planning reforms are actually delivering on the ground. Connect with James James’ LinkedInMills Oakley WebsiteMills Oakley LinkedIn Resources

Most Australians assume they’ll deal with retirement living and aged care when the time comes. The problem? By the time it does, the system has already made many of the decisions for you. In this episode, we unpack why delaying retirement and home care planning is one of the most expensive mistakes people make—not just financially, but emotionally and structurally. Veronica Morgan and Chris Bates are joined by Mitch Hiam, COO of Balance Financial Group, to explain how Australia’s aged care and home care systems really work—and why recent reforms are quietly changing the rules. They explore how “Support at Home,” means testing, maintenance costs, and wait times are pushing retirees into decisions earlier than expected, often under crisis conditions. The conversation challenges deeply held assumptions about staying in the family home, downsizing, retirement villages, and intergenerational living. Mitch breaks down when home care works, when it doesn’t, and why time—not money—is the real currency in preserving choice and independence later in life. This episode is essential listening for Gen X, older Millennials, investors, and anyone with ageing parents, offering a clear warning: if you don’t plan your retirement living early, the system will plan it for you. Episode Highlights 00:00 — Introduction to Retirement Living Decisions 01:08 — Guest Introduction: Mitch Home from Balance Financial Group 01:48 — Challenges Faced by Retired Homeowners 04:05 — Importance of Early Planning for Home Care 09:07 — Government Policy Changes and Their Impact 16:00 — Financial Trade-offs and Family Dynamics 24:21 — Granny Flat Agreements and Multigenerational Living 26:31 — Inheritance and Financial Planning for Retirees 29:52 — Planning for Future Care Needs 30:29 — Making Better Property Decisions 31:37 — Understanding Retirement Villages 40:10 — Costs and Contracts in Retirement Villages 52:26 — Final Thoughts and Advice About the Guest Mitch Hiam is the Chief Operating Officer of Balance Financial Group, a specialist advisory firm focused on retirement planning, aged care strategy, and later-life financial decision-making. His work sits at the intersection of pensions, home care funding, residential aged care, downsizing, retirement villages, and intergenerational arrangements. Mitch works closely with individuals and families navigating some of the most complex—and emotionally charged—decisions they will ever face. From proactive planning to crisis-driven aged care transitions, he brings frontline insight into how Australia’s systems actually operate, where people get caught out, and which decisions permanently limit future options. Known for his plain-spoken, practical approach, Mitch helps Australians understand the financial reality behind retirement living—so they can make informed decisions early, rather than forced ones later. Connect with Mitch Mitch’s LinkedInBalance Retirement & Aged Care Specialists’ LinkedInBalance Retirement & Aged Care Specialists’ Website Resources

Multi-generational living is becoming a more common response to the uncomfortable realities facing ageing parents and their adult children. With traditional aged-care pathways increasingly expensive, emotionally fraught, and often poorly understood, families are weighing up alternatives — staying at home, moving into residential care, or reshaping the family home through shared living arrangements and granny flats. In this episode, we look under the hood of multi-generational living to explore what’s actually involved. From legal ownership and estate outcomes to pension eligibility, Centrelink rules, and family dynamics, we unpack the decisions families are making — and the risks they often don’t see until they’re already committed. Our guest, Adriana Care, is Managing Partner at Coutts Legal and works at the coalface with families navigating these choices under pressure. She’s seeing a clear shift among the so-called sandwich generation toward property-based solutions for ageing parents — raising complex questions around money, fairness, control, and what can go wrong when good intentions meet poor planning. This episode isn’t about whether multi-generational living is right or wrong. It’s about understanding the legal, financial, and practical realities behind these decisions before they become permanent. Episode Highlights 01:18 — Meet Adriana Care of Coutts Legal 02:08 — Is Aged Care Failing Modern Families? 03:47 — The Legal and Financial Risks Families Miss 05:25 — Why Families Choose Multi-Generational Living 15:31 — Retirement Living vs Staying at Home 20:50 — How Retirement Village Contracts Really Work 25:40 — What to Know Before Making a Family Move 28:10 — Inside Retirement Village Agreements 28:55 — Disclosure Documents Explained 29:40 — Rules and Regulations That Catch Families Out 30:52 — How Family Dynamics Shape Care Decisions 32:21 — Financial Elder Abuse: Legal Warning Signs 35:29 — Binding Financial Agreements Explained 37:46 — Pensions, Gifting, and Centrelink Rules 40:21 — Why Downsizing Isn’t Always the Answer 44:02 — Granny Flat Arrangements: Legal Traps 49:42 — A Real Case That Shows What Can Go Wrong About the Guest Adriana Care is the Managing Partner at Coutts Legal, where she specialises in aged care and elder law. She works closely with families navigating some of the most complex and emotionally charged decisions around ageing, care, and family living arrangements. Adriana advises clients on the legal and financial realities of home care, residential aged care, granny flats, and multi-generational living, with particular expertise in Centrelink rules, pension eligibility, and intergenerational asset arrangements. Working at the coalface, she sees first-hand how well-intentioned plans can unravel without clear structures, proper advice, and early conversations — especially for the sandwich generation balancing parents, children, and property decisions at the same time. Connect with Adriana LinkedInCoutts Lawyers (Instagram) Resources https://www.theelephantintheroom.com.au

What if our homes did more than just provide shelter? What if they could actually contribute to the health of the planet and the people living within them? In this episode, we sit down with Caroline Pidcock, a visionary architect and champion of regenerative design, to explore why Australia’s current approach to housing is falling short—and how we can change it. Caroline shares her deep expertise on the "Circular Economy" and why we must transition from merely being "less bad" to being "positively good" for our environment. We dive into the hidden health risks of poorly designed homes, the reality of building for extreme weather, and why the "bigger is better" mindset in Australian property is a trap. What we explore in this conversation: Regenerative vs. Sustainable:The Circular Economy:Health and Architecture:Building Standards:Retrofitting for Resilience: Whether you are a homeowner, an investor, or simply curious about the future of our cities, this conversation will challenge you to think differently about the spaces we inhabit. Hit play to learn how we can build a future that thrives! Episode Highlights 00:00 — Welcome: Rethinking How We Build 01:13 — Caroline Pidcock: Beyond Sustainability 04:18 — Fixing the Flaws in Modern Design 07:06 — Regenerative Design in Action 17:17 — Policy Shifts for a Livable Future 20:47 — Growth vs. the Environment 23:23 — Hard Lessons from Failed Developments 26:08 — How Our Cities are Evolving 27:47 — The Reality of Melbourne’s Planning 31:43 — Regional Living & Staying Connected 33:08 — Leading the Charge for Urban Change 35:49 — Simple Tools for Sustainable Living 37:20 — The Hidden Hurdles of Rezoning 40:54 — How Density Affects Our Communities 48:23 — Final Thoughts: A Legacy for the Future About the Guest Caroline Pidcock is a renowned Australian architect and advocate who has dedicated her career to sustainable and regenerative design. With decades of experience across residential and commercial projects, she is a past President of the Australian Institute of Architects (NSW Chapter) and the Australian Sustainable Built Environment Council (ASBEC). Caroline is a leading voice in the "Living Building Challenge" and is deeply committed to the principles of the circular economy. Her work focuses on creating spaces that are not only carbon-neutral but also enhance the biological and social systems they inhabit. Recognized for her leadership in climate action within the property industry, she continues to influence policy and practice to ensure a resilient and healthy built environment for future generations. Connect with Caroline Caroline Pidcock’s LinkedIn

Australia’s housing debate is crowded with loud opinions — but very little demographic reality. In this episode, we unpack what Australia’s population shifts are actually telling us about housing demand, cities, and economic pressure points, and why many of today’s dominant narratives fall apart when viewed through data. Demographer Simon Kuestenmacher joins Veronica and Chris to challenge the assumptions shaping housing policy, migration debates, and affordability discussions. From international students and skilled migration to household formation and labour shortages, Simon explains how population forces — not headlines — are driving long-term outcomes across property and the broader economy. The conversation explores why cutting migration won’t automatically ease housing stress, why median house prices are a misleading metric in a structurally unequal market, and why Australia’s system is quietly designed to support rising asset prices. Along the way, Simon reframes inflation, workforce shortages, and urban planning through a demographic lens that most investors and policymakers ignore. This episode is essential listening for anyone who wants to understand underlying demand, not just surface-level market movements. If you’re a property investor, owner, or decision-maker trying to make sense of housing, cities, and economic pressure in Australia, this conversation will sharpen how you think about the next decade. Episode Highlights 00:00 – What Demographics Say About Housing Demand 01:12 – Why Population Data Beats Property Headlines 01:51 – The Migration Debate: Benefits and Misunderstandings 02:47 – International Students: Cash Cows or Future Workforce? 06:32 – Why Australia’s Skills Shortage Is Structural 13:44 – The Fiscal Reality Behind High Migration Numbers 17:36 – How Migration Policy Could Actually Be Fixed 22:03 – Why Migration Isn’t the Real Cause of High Prices 28:57 – The Integration Challenge for International Students 31:25 – Why Australia’s Economic Model Still Works 33:43 – Density, Sprawl, and the Real Cost of Bad Planning 45:01 – AI Will Push Workers Back Into Offices 48:34 – Why Demographics Point to Stickier Inflation 50:04 – Why Median House Prices Are a Misleading Metric 52:11 – The Big Demographic Blind Spots Investors Miss About the Guest Simon Kuestenmacher is a demographer and co-founder of The Demographics Group, where he specialises in population change, migration, generational trends, and how these forces shape housing, infrastructure, and economic outcomes. His work is widely used by governments, planners, and businesses grappling with long-term structural change rather than short-term noise. Simon is a regular media commentator, a columnist for The Australian and The New Daily, and host of the Demographics Decoded podcast. He is also the author of several books on maps and data and runs one of the world’s largest social media platforms dedicated to demographic insights, reaching millions each month. Known for translating complex population data into practical insight, Simon brings clarity to some of Australia’s most emotionally charged debates — including housing affordability, migration policy, and the future of work. Connect with Simon The Demographics Group (website)LinkedIn

Property investing has rarely looked more seductive—or more dangerous. In this episode, Veronica and Chris unpack the growing gap between how property portfolios are being sold and how risk is quietly stacking up beneath the surface. As regulators tighten lending rules and banks pull back, the question isn’t whether the rules are changing—it’s whether investors are paying attention. The conversation dives deep into aggressive lending practices now under scrutiny: trust lending, SMSF borrowing, equity extraction, and the promise of “instant equity” through optimistic bank valuations. Veronica and Chris challenge the idea that buying multiple properties fast is a strategy, exposing how many portfolios are built on valuation certificates rather than fundamentals—and what happens when interest rates rise, rents soften, or lending conditions tighten. They also examine the uncomfortable incentives driving this behaviour: buyer’s agents rewarded for volume, brokers pushed to maximise borrowing capacity, and everyday Australians—often in their late 40s and 50s—being sold complex structures they don’t fully understand. From regional markets distorted by borderless buying to SMSFs loaded with illiquid property, the risks are not theoretical—they’re already unfolding. This episode is a warning shot. If your strategy relies on constant refinancing, rising valuations, or ever-looser lending, this conversation will force you to rethink it. Because when the cycle turns, the consequences won’t be shared evenly—and paper equity won’t save you. Episode Highlights 00:00 — Introduction to Property Investing Risks 01:11 — Regulatory Crackdown on Risky Lending 01:46 — The Role of Buyer's Agents and Brokers 03:19 — Trust Lending and Self-Managed Super Funds 12:19 — Instant Equity and Market Manipulation 18:40 — The Pitfalls of Following Bad Advice 24:28 — Questionable Advice from Buyer's Agents 25:32 — Judging Awards and Industry Practices 26:16 — Vulnerable Investors and Risky Promises 27:13 — APRA's Role and Investor Lending Trends 29:31 — Superannuation and Property Investments 35:32 — Private Lending and Market Risks 42:53 — Cross Collateralization and Loan Structuring 48:54 — Conclusion and Final Warnings About the Host Chris Bates is a mortgage broker and co-founder of Alcove, working with clients across Australia to help them navigate complex property and lending decisions. Known for his data-driven approach, Chris specialises in long-term strategy, lending structures, and helping buyers avoid costly financial mistakes. Veronica Morgan is a buyer’s agent and property strategist with nearly two decades of experience advising owner-occupiers and investors. With a background in research, data analysis, and on-the-ground buying, Veronica is widely respected for cutting through market noise and focusing on fundamentals, risk, and long-term outcomes. Together, they bring a practical, evidence-based lens to Australia’s property market — challenging assumptions and unpacking what actually matters. Resources https://www.theelephantintheroom.com.auquestions@theelephantintheroom.com.au

Australian property prices are often treated as a national scoreboard—up means success, down means failure. But what if that assumption is wrong? In this episode, we interrogate one of the most polarising ideas in housing today: that Australia’s obsession with ever-rising property prices is doing more harm than good. Joining Veronica and Chris is Adam Schwab, founder of Luxury Escapes and a sharp, outspoken commentator on economics, inflation, and corporate behaviour. Coming from outside the property industry, Adam brings a contrarian lens to housing—questioning whether property has become an unproductive asset, how easy credit and government incentives have distorted prices, and why policies like 5% deposit schemes may be helping vendors more than buyers. The conversation digs deep into rental yields versus capital growth, the role of the RBA in inflating asset prices, and why high house prices don’t actually benefit most owner-occupiers. Adam challenges the idea that owning property equals success, arguing that Australia’s fixation on housing is crowding out productive investment, innovation, and long-term economic resilience. This is a robust, sometimes uncomfortable discussion about incentives, risk, and who really wins when property prices keep climbing. If you care about affordability, fairness, and the future of Australia’s economy — not just short-term price movements—this episode will force you to rethink what “good” housing policy actually looks like. Episode Highlights 00:00 — Introduction to the Episode and Guest 00:56 — Adam Schwab's Contrarian Views on Property 01:37 — Debating Property Prices and Investment 02:49 — Renting vs. Buying: A Financial Analysis 05:43 — The Impact of High Property Prices on Society 19:02 — Monetary Policy and Housing Market 26:50 — Reverse Mortgages and Their Implications 27:32 — The 40-50 Year Loan Debate 28:31 — Government Policies and Housing Market 29:09 — Economic Logic vs. Political Motives 29:33 — Risks of New Property Incentives 31:22 — Banking System and Housing Bubble 33:41 — Immigration and Housing Affordability 35:28 — Leveraging and Property Investment 42:20 — Comparing Property to Other Investments 47:53 — Global Talent and Property Prices 49:51 — Concluding Thoughts on Property Market About the Guest Adam Schwab is the co-founder of Luxury Escapes, one of Australia’s most successful global travel businesses, which he helped scale into a billion-dollar brand. Beyond entrepreneurship, Adam has built a parallel career as a respected financial journalist and commentator, known for his sharp critiques of corporate behaviour, economic policy, and market incentives. He is also the co-host of The Contrarians podcast, where he regularly challenges mainstream narratives on markets, inflation, and government intervention. Unafraid to question sacred cows — including Australian property — Adam brings an outsider’s perspective grounded in economic fundamentals rather than industry orthodoxy. In this episode, Adam applies that contrarian mindset to housing, offering candid insights into why Australia’s property system rewards asset inflation over productivity, how easy credit fuels bubbles, and why policy settings may be entrenching inequality rather than solving it. Connect with Adam Adam’s LinkedIn

As 2025 comes to a close, property headlines are once again filling with bold predictions about what 2026 will bring. But rather than playing the forecasting game, this episode takes a more grounded approach — examining the forces already in motion and how they’re likely to shape buyer, seller, and investor behaviour in the year ahead. Chris Bates and Veronica Morgan unpack what’s really driving the market right now: persistently high interest rates, fast-rising lower-quartile prices, tight rental conditions, weak construction pipelines, and a supply side that simply isn’t recovering. They explore why listings remain constrained, how first home buyer incentives and investor lending are colliding in the same price brackets, and why borrowing capacity — not confidence — is doing most of the heavy lifting. The conversation also digs into buyer fatigue versus genuine market softening, the growing influence of global uncertainty on local decision-making, and why some cities and sub-markets may actually accelerate rather than cool. Along the way, they challenge the idea that 2026 will somehow be “easier,” especially for buyers waiting for perfect clarity before acting. If you’re considering buying, selling, upgrading, or investing in the next 12–24 months, this episode offers a clear-eyed framework for thinking strategically — without hype, predictions, or false reassurance. Episode Highlights 00:00 – Introduction: Current State of the Property Market 01:04 – Factors Shaping the Market in 2026 01:48 – Interest Rates and Market Predictions 03:59 – Regional Market Variations 05:58 – Investor and First Home Buyer Dynamics 16:59 – Impact of Development and Zoning Changes 22:54 – Work from Home and Regional Market Trends 25:15 – Helping You Make Better Property Decisions 26:07 – Introduction to Property Moves and Finance 26:22 – Regional Markets Post-COVID 27:14 – Current Market Sentiment and Interest Rates 28:52 – Generational Wealth and Property Ownership 32:00 – Bank Lending and Credit Growth 36:51 – Auction vs. Private Treaty Markets 43:00 – Renovation Trends and Challenges 45:35 – Long-Term Property Investment Strategies 49:48 – Conclusion and Future Episodes About the Hosts Chris Bates is a mortgage broker and co-founder of Alcove, working with clients across Australia to help them navigate complex property and lending decisions. Known for his data-driven approach, Chris specialises in long-term strategy, lending structures, and helping buyers avoid costly financial mistakes. Veronica Morgan is a buyer’s agent and property strategist with nearly two decades of experience advising owner-occupiers and investors. With a background in research, data analysis, and on-the-ground buying, Veronica is widely respected for cutting through market noise and focusing on fundamentals, risk, and long-term outcomes. Together, they bring a practical, evidence-based lens to Australia’s property market — challenging assumptions and unpacking what actually matters. Resources https://www.theelephantintheroom.com.auquestions@theelephantintheroom.com.au

In this episode, we pull back the curtain on one of the least transparent parts of Australia’s property market: sales campaign behaviour. From hidden campaign histories to shifting price guides and agent tactics designed to manufacture buyer momentum, most buyers are making six- and seven-figure decisions without the information they actually need. Today’s conversation digs into that gap — and the consequences of it. We’re joined by Henry Pedersen, co-founder and CEO of Homer, a proptech tool built to expose the data buyers never get to see. Henry walks us through what really happens behind the scenes of a sales campaign: failed auctions, withdrawn listings, guide price movements, and the patterns in agent strategy that can completely alter a buyer’s perception of value. We talk about why big data alone isn’t enough, how algorithms misread hyper-specific property nuances, and why more information doesn’t automatically mean better decisions. We also dive into the thornier realities: the structural incentives pushing agents toward underquoting, why buyers keep falling into the same traps, how state regulators are tightening their approach, and what transparency could actually look like if buyers had access to honest, unfiltered campaign histories. Henry also shares how buyer behaviour — from switching suburbs to chasing “hot” listings — is often influenced by information that’s incomplete or deliberately curated. Whether you're navigating the market for the first time, returning after a break, or advising clients professionally, this episode gives you tools to understand the battlefield. We help you recognise the signals buried inside campaign data, avoid being blindsided by agent strategy, and get clearer about where your expectations sit in the real market — not the one portrayed online. This is a must-listen for anyone tired of feeling outplayed. Episode Highlights 00:00 — Introduction to the Hidden World of Property Market 01:28 — Meet Henry Pedersen: Co-founder and CEO of Homer 02:05 — The Birth of Homer: A Personal Journey 02:50 — How Homer Provides Transparency in Property Data 04:11 — Challenges and Insights in Property Data 05:13 — The Role of Historical Data in Property Decisions 06:39 — Navigating the Property Market with Homer's Tools 12:23 — User Experience and Adoption of Homer 14:06 — Future Developments and Features of Homer 20:07 — Queensland's Unique Real Estate Law 22:03 — Challenges of Property Valuation 23:27 — Agent Behavior and Market Strategies 25:04 — Leveraging Data for Better Decisions 33:44 — AI in Real Estate 35:38 — Property Dumbo Stories 38:14 — Conclusion and Final Thoughts About the Guest Henry Pedersen is the Co-Founder and CEO of Homer, a fast-growing proptech platform built to give Australian buyers real visibility into sales campaigns — including the data traditionally kept out of sight. With a background in data, growth strategy, and scaling marketplace businesses globally, Henry brings an outside-the-industry lens to one of real estate’s most persistent problems: information asymmetry. Prior to joining Homer, Henry worked in international markets building large-scale automotive data platforms, helping bring structure and transparency to vehicle marketplaces across Australia and the UK. His personal experience navigating Sydney’s overheated 2021 market led him to confront the frustrations buyers face: shifting price guides, opaque campaign histories, and the sheer workload required to track property activity manually. At Homer, Henry focuses on surfacing patterns in agent behaviour, guide-to-sale accuracy, campaign timelines, and other hidden indicators that shape buyer outcomes. His mission is simple: equip everyday Australians with the information professionals use —...

Australia’s housing market is creaking under pressure — record-low affordability, rising lower-end prices, and policies that keep boosting demand instead of easing it. In this episode, Cotality’s Head of Research Eliza Owen helps us zoom out and make sense of the contradictions shaping today’s market. We unpack why “years to save a 20% deposit” is the wrong metric, why income — not deposits — is the real barrier, and how the 5% deposit scheme pushes prices up by funnelling demand under strict caps. Eliza also breaks down the mismatch between the homes we build and how Australians actually live, alongside the collapse in turnover rates that concentrates buying power among wealthier households. If you want a clear, data-led look at what’s really driving the crisis — and why prices keep rising even as affordability falls apart — this conversation cuts through the noise. Episode Highlights 00:00 — Introduction and Overview of Australia's Housing Market 02:18 — Government Incentives and Their Impact 04:17 — Challenges in Housing Affordability 10:16 — Policy Measures and Their Effects 12:18 — Affordability and Market Trends 17:55 — Turnover Rates and Market Stability 22:20 — The Case for Replacing Stamp Duty with Land Tax 25:28 — Mismatch in Housing Supply and Demand 28:19 — Challenges in the Rental Market 31:38 — Eliza's Departure and Reflections 34:42 — Global Perspectives on Housing Markets 38:51 — Affordability Metrics and Policy 42:33 — Underquoting and Auction Dynamics 43:36 — Conclusion and Listener Engagement About the Guest Eliza Owen is the Head of Research at Cotality (formerly CoreLogic), where she leads national market intelligence and economic analysis across Australia’s property sector. Appointed in 2020, she brings more than a decade of expertise in affordability metrics, credit conditions, lending environments, and the economic pressures shaping housing performance. Eliza has guided industry leaders through some of the most pivotal moments in recent history — from the volatility of COVID-era markets to the rapid rate-hike cycle and today’s affordability crisis. Her work helps governments, banks, and real estate professionals understand the shifting forces impacting buyers, sellers, and renters, using rigorous data to illuminate what’s really happening beneath the headlines. A sought-after keynote speaker and trusted media commentator, she has presented to thousands across real estate, construction, banking, and finance, translating complex economics into clear, practical insights. Passionate about demystifying housing data, Eliza is recognised for storytelling that cuts through complexity and empowers Australians to make smarter, evidence-based decisions in an increasingly strained housing landscape. Connect with Eliza Eliza’s LinkedInCotality Australia’s LinkedInCotality Australia’s WebsiteCotality Australia’s Facebook PageCotality Australia’s Instagram Resources https://www.theelephantintheroom.com.au