Potential to Alleviate Rental Issues
Pete offers his opinion on how underused bedrooms across Australia have the potential to alleviate the rental issue. He points to recent statistics revealing only 1.3% of properties show no evidence of recent electricity use, suggesting a strained rental market.
Evergrande Contagion Effect
Pete discusses how tax changes on rental profits for spare rooms could serve as an immediate solution. He further comments on the repercussions of the Evergrande downfall, highlighting a lot of Chinese developers have left Australia, compounding the collapse of property developers and reducing the supply of stock.
Brisbane House Price Growth
On the plus side, Pete forecasts the potential for more Chinese buyers to enter the Australian property market. He maintains that the growth in housing prices in Brisbane, spurred by its relative affordability compared to Sydney, might persist. This, he argues, could be driven by differences in interstate migration, infrastructure investment following the Brisbane Olympics, and a persistent lack of quality supply.