Perth Property Insider Ep. 53 – Perth Property Market Update – Xmas Wrap & 2022 Outlook With Tim Lawless – Part 1

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Who would have predicted that COVID would spark an Australia-wide property boom in 2021?

It’s certainly been an interesting year and it’s a wonderful time to reflect on exactly what has happened and what is the outlook for 2022 and it’s going to be an exciting year ahead!

I am privileged to be going head to head, making sense and meaning of the numbers with Tim Lawless from CoreLogic — Research Director for Asia-Pacific and one of Australia’s most popular property market analysts and commentators. Tim’s expertise is frequently sought by government bodies and regulators, as well as national and international corporate entities across the property, banking and financial sectors.

Tune in now as we have got lots to cover in this two-part market update. Let’s go inside!

Highlights:

  1. Introduction [0:00]
  2. What is CoreLogic and how does it fit into the property industry? [2:03]
  3. What is a hedonic index and how does CoreLogic use it to keep track of housing values? [4:13]
  4. Reporting changes on median house price [6:19]
  5. The reason for Perth showing a lower than actual growth on CoreLogic’s index [8:07]
  6. How the hedonic index works [9:18]
  7. The explanation of the flat growth rate for Perth coming into the end of October [11:18]
  8. Top-performing suburbs/areas over the whole year 2021 [12:21]
  9. The biggest disincentive for vendors in Perth [15:23]
  10. Statistics in terms of the supply side[17:16]
  11. Who is driving the market? Investors? First home buyers? [19:59]
  12. The biggest challenge for first home buyers coming into the market [22:41]
  13. Insights on who will be driving the market in 2022 [23:49]
  14. Predicting the flow of interstate migration in 2022 [24:43]

About Our Guest:

Tim Lawless is the founder and Research Director of CoreLogic’s Asia–Pacific research division (formerly RP Data). In this capacity, he manages a team of specialists across Australia and New Zealand, bringing more than 15 years’ experience across property markets to the role.

Recognised as a leading authority on residential property, Tim regularly provides expert commentary on real estate market conditions, demographic trends and economic factors.

Tim enjoys sharing his knowledge with diverse audiences: from first-time home buyers right up to the Reserve Bank of Australia. He regularly appears on national television news and lifestyle programs including Channel 7’s Sunrise, and he’s often quoted in the country’s top business publications such as the Australian Financial Review, the Sydney Morning Herald and The Australian.

As one of Australia’s most popular property market analysts and commentators, Tim’s expertise is frequently sought by government bodies and regulators, as well as national and international corporate entities across the property, banking and financial sectors.

Tim holds a Bachelor of Business from the Queensland University of Technology, specialising in information management.

Thank you for tuning in! If you liked this episode, please don’t forget to subscribe, tune in, and share this podcast.

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