Australian Property Journal - ‘Talking Property‘

APJ’s “Talking Property” with Benjamin Martin Henry

THIS latest episode of Australian Property Journal’s Talking Property is brought to you by MSCI.

Our guest Benjamin Martin-Henry, Head of Real Estate Research, Pacific, MSCI, returns to APJ’s Talking Property, and chats to Nelson Yap about the Australian Capital Markets.

• Commercial real estate transactions has slowed.
• The significant gap between pricing and expectations.
• Core sectors vs alternative.
• Price discovery and lack of transactions, how has that impacted valuations? Australia hasn’t seen significant write-downs compared to other global markets.
• The upcoming annual reporting season, what to expect from valuations?
• Liquidity, Australia remains the most liquid market despite the lack of transactions.
• Build-to-Rent, changes to managed investment trust (MIT) is expected to spur domestic players to look to offshore capital markets, and find development partners and/or funding.

APJ’s “Talking Property” with David Oudshoorn and Grace Wu

APJ’s Talking Property with David Oudshoorn and Grace Wu

 

This latest episode of Australian Property Journal’s Talking Property is brought to you by MaxCap Group.

In this latest episode of Talking Property and in a first for the podcast, we are joined by two guests to get their different perspectives.

APJ’s Nelson Yap talks to David Oudshoorn, State Director NSW at MaxCap Group and Grace Wu, Managing Director, Bridgestone Projects.

• David and Grace give an overview from a financier and property developer’s perspective of what has happened in the past 12 months.
• Lessons and experience from MaxCap and Bridgestone.
  • What are financiers looking for in a client?
  • What are developers looking for when it comes to choosing a financier?
  • Why did Bridgestone choose a Non-Bank Lender vs Bank? Grace says it is not always about the lowest cost financier.
• As a developer, Grace has been greatly influenced by Harry Triguboff, the founder of Meriton, but she has her own philosophy, and she shares why Bridgestone has been successful.
• In light of the recent MIT changes for build-to-rent, what is MaxCap’s view on how the sector will evolve? But there were no changes for the domestic players, what is Bridgestone’s view as a build-to-sell developer?
• Are there opportunities for build-to-rent operators to purchase dwellings or an entire apartment development from build-to-sell developers?
• A recent report by demographer Bernard Salt found Australia’s home ownership rate peaked at 73% in 1966 and has been declining since then. Despite this, home ownership remains the “Great Australian Dream”. What should policymakers and industry be looking at, to stall the decline and lift the rate in Australia?
• Finally, what is the outlook for the year ahead? What challenges and opportunities can financiers and developers identify?
  • David talks about raising money to invest in real estate debt, is it more attractive than investing in real estate equity?
  • Grace said there are opportunities for developers to reduce the financial costs for projects.

APJ’s “Talking Property” with Benjamin Martin Henry

This latest episode of Australian Property Journal’s Talking Property is brought to you by MSCI.

 

Our guest Benjamin Martin-Henry, Head of Real Estate Research, Pacific, MSCI, returns to APJ’s Talking Property, and chats to Nelson Yap about the Australian Capital Markets.

 

• Market update – Office, Industrial, Office, Hotel.
• Alternative real estate investments.
• Will investors return to core because they are starting to get better yield spread?
• Yields continue to expand, will asset repricing continue?
• How repricing has impacted annual returns and the valuation cycle?
• Price Expectations Gap Indicator show office is overpriced and industrial is under-priced.
• What should commercial property assets be at, trading to get investors back into the market?
• Build-To-Rent, are market conditions ripe?

APJ’s “Talking Property” with Nick Bullick

IN this latest episode of Australian Property Journal's Talking Property podcast, Nelson Yap talks to Nick Bullick, Chief Investment Officer, New Zealand at MaxCap Group, about the New Zealand market.

 

• Difficulty for developers to get access to capital, the non-bank lending sector lags Australia, how will the sector evolve?
• Rising interest rates and the impact on the commercial property market.
• Trends and outlook on the markets – residential, office, retail, hotel.
• Property valuations are holding as nothing is transacting. What can we expect in 2023?
• The construction industry.
• Opportunities for developers in asset repositioning and value-add.
• Build-to-rent.
• Finally, the differences and similarities between Australia and NZ markets.

APJ’s “Talking Property” with Benjamin Martin Henry

This latest episode of Australian Property Journal’s Talking Property is brought to you by Real Capital Analytics (MSCI).

Our guest Benjamin Martin-Henry, Head of Real Estate Research, Pacific with Real Capital Analytics (MSCI), returns to APJ’s Talking Property, and chats to Nelson Yap about the Australian Capital Markets.

• Transaction volumes have declined.
• How are the different sectors performing.
• Alternative real estate outperformed the core sector.
• Have commercial property, particularly industrial property values peaked?
• Yields are expanding
• Bond rates and industrial yields spread have narrowed significantly from 300 basis points to 25 bps, will we see a repricing of assets?
• Construction trends.
• Rising interest rates putting pressure on the balance sheet of REITs, stretching their LVR, will REITs continue to sell down assets?
• Rising US dollar presenting value for US investors.
• What can we expect for the remainder of 2022? How will the market finish?

 

APJ’s “Talking Property” with Damian Collins

APJ’s Talking Property with Damian Collins

 

IN this latest episode of Australian Property Journal’s Talking Property, Nelson Yap talks to Damian Collins, Chairman of Westbridge Funds Management, on the Western Australian real estate market.

 

- Rising build costs, its different for residential vs commercial and how they are impacting feasibility for different development products;

- Townhouses as the “missing middle” of Perth’s property market;

- How labour shortages are impacting Perth’s property supply;

- How demand will evolve across the residential development sector in the year ahead;

- How the pandemic has influenced the industrial market in Perth;

- Perth retail, neighbourhoods are performing well but CBD remains challenging;

APJ’s “Talking Property” with Justin Pearce

IN this latest episode of Australian Property Journal's Talking Property, Nelson Yap talks to Justin Pearce, State Director WA - Investment at MaxCap Group, on the Western Australian market and commercial lending.

• WA apartment market – the growing acceptance of apartment living, presales, feasibility of projects, and housing.
• Interest rates - Perth has the second most affordable housing of any capital city, the nation’s lowest unemployment rate and highest average weekly wage, the impact of rising rates.
• Evolution of non-bank financial institutions in WA, developers increasingly turning to non-bank lenders.
• How financiers and developers are working together to overcome challenges to bring supply forward.
• Residual stock opportunities in the tight market.
• What is the appetite for Build-to-Rent in Perth?
• Construction costs, developers are looking for flexibility.

This latest podcast of Australian Property Journal’s Talking Property is brought to you by MaxCap Group.

APJ’s “Talking Property” with Mark Wizel

APJ’s Talking Property with Mark Wizel

 

IN this latest episode of Australian Property Journal’s Talking Property, APJ’s Nelson Yap talks to Mark Wizel, the founder of Wizel Property Group.

Wizel is well known to the property industry. The former CBRE national director is one of the most successful commercial real estate agents in Australia, handling over $14 billion in sales since 2009.

Wizel opens up on why he didn’t join another real estate agency, instead he decided to start his own property company during the COVID lockdown.

We also talk about:

• What are market participants are saying.
• Is there still interest in Australia from Asian (Singapore, China, Hong Kong, Korea, Japan) investors?
• Margins on developments.
• Interest rates, what does that mean for vendors and buyers?
• Cap rates, where are they headed?
• And his beloved Saints, will they make the final 8 in 2023?

APJ’s “Talking Property” with Benjamin Martin Henry

This latest episode of Australian Property Journal's Talking Property is brought to you by Real Capital Analytics (MSCI).

Our guest Benjamin Martin-Henry, Head of Real Estate Research, Pacific with Real Capital Analytics (MSCI), returns to APJ’s Talking Property, and chats to Nelson Yap about the Australian Capital Markets.

• Rising interest rates and cost of debt, the impact on the market.
• The relative value of retail investments is great, they have become cheaper over the last few years, so investors are piling back in.
• Office investments rose, industrial remains strong but there is a lack of stock to satisfy the wave of capital.
• All eyes have been on the industrial market, but the healthcare property sector performance has been almost on par.
• Appetite for alternative real estate sectors such as pubs, student accommodation, how will the seniors housing sector evolve?
• Construction starts are down 60-70%, across all property sectors.
• The build-to-rent sector continues to grow with around 40,000 units in various stages of development, are master-planned build-to-rent communities the next evolution?

APJ’s “Talking Property” with Simon Hulett

This latest podcast of Australian Property Journal’s Talking Property is brought to you by MaxCap Group.

IN this latest episode of Australian Property Journal's Talking Property, Nelson Yap talks to Simon Hulett, Head of Direct Investment at MaxCap Group, on identifying opportunities and the success of joint venture capital partners.

• What expertise is required to participate with JV capital partners in the market.
• Finding groups who are specialists in their field to partner with.
• How important is diversification in navigating the volatile market to produce strong returns.
• What opportunities are in residential and retail property markets?
• Expanding in New Zealand and identifying opportunities in a declining market.
• Flight to quality and increased spread in values between prime and secondary assets.
• Value-add in existing assets.
• Rising interest rates environment and investment returns.