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.

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

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.

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2026 is shaping up as a year of subtle indicators and big risks, and Louis Christopher breaks down the data points seasoned investors should be paying attention to right now.

In this episode, Louis joins Veronica and Chris just days after releasing the 2026 edition to unpack the findings that matter most: population growth moderating sharply, supply finally catching up in pockets, and why rental pressure may ease before prices do. And, critically, he reveals the assumptions his modelling rests on — and the risks that could topple them.

Louis walks us through the four core scenarios underpinning his 2026 outlook, including the one that unexpectedly took the lead in 2025, and the one he now believes may need a late addendum as sticky inflation raises the odds of a surprise rate hike. From unemployment edging toward 5%, to small business stress, to shifts in interstate migration, Louis explains how these macro levers shape the micro realities buyers and investors experience on the ground.

We also zoom into the markets that defied expectations in 2025 — including Darwin’s explosive rebound and the Gold Coast’s continued growth despite being fundamentally overvalued. Louis breaks down why listings data is flashing one message, why developers are building for the wrong demographic, and where supply bottlenecks could turn into oversupply shocks by 2027. Perth, Brisbane and Adelaide remain the nation’s top performers, but Louis outlines exactly what conditions would need to change for any of them to lose steam.

This conversation is packed with uncomfortable truths, grounded forecasts, and the kind of nuance you only get from someone who has studied the data for over two decades. Whether you’re trying to time a purchase, expand a portfolio, or simply understand where the market is heading next, Louis’ insights offer the clarity — and the caution — needed to navigate 2026 with your eyes open.

00:00 – Introduction to the 2026 Housing Market Outlook

01:11 – Louis Christopher's Forecasting Approach

02:18 – Reviewing the 2025 Predictions

05:38 – Key Assumptions for 2026

07:53 – Interest Rate Scenarios for 2026

10:52 – Gold Coast Market Analysis

15:14 – Darwin Market Insights

18:56 – Structural Changes in Listings

21:58 – Impact of High Transaction Costs on Listings

23:12 – Market Dynamics in Different Cities

25:10 – Investor Behavior and Market Trends

26:42 – Rental Yields and Property Taxes

28:49 – Interstate Investment Trends

32:27 – Adelaide's Surprising Economic Resilience

34:19 – Construction Costs and Housing Prices

37:07 – Key Indicators for 2026 Market Predictions

Louis Christopher is one of Australia’s most respected and closely watched housing market analysts. As the founder of SQM Research, he has spent nearly two decades building some of the country’s most trusted property indexes, data series, and market forecasts. Before establishing SQM in 2006, Louis served as Head of Research and General Manager at Australian Property Monitors, where his work informed Reserve Bank analysis and shaped national housing insights.

With a background spanning technical market analysis, index construction, and independent forecasting, Louis has earned a reputation for calling turning points early — and for openly grading his own predictions each year. His annual Boom & Bust Report is widely regarded as one of Australia’s most transparent property forecasts, dissecting the interplay between population trends, supply pipelines, interest rates, and economic conditions.

Louis is known for his no-nonsense approach, his statistical discipline, and his ability to explain complex market dynamics with clarity and precision. For investors, buyers and industry practitioners, his work offers a rare blend of independence,...

In this Q&A episode, Veronica and Chris unpack the real property questions investors are facing right now. From ATO debt rules to cashflow pressure and portfolio structure, this episode gets straight to the point and cuts through the myths.

They break down a $5.3M portfolio spread across Logan, Townsville, Shepparton, regional WA and Melbourne’s fringe, revealing why “affordable” properties often deliver slow long-term growth — and when selling is actually the smarter move.

The conversation also dives into rising insurance costs in flood-prone markets, including Gold Coast premiums hitting up to $20K a year. Veronica explains how underinsurance, flood overlays and lender behaviour could reshape future buyer demand.

Finally, Chris explores whether AI-driven job losses could weaken the property market, or simply concentrate demand into fewer suburbs. If you want clearer strategy and better decision-making, this Q&A delivers the insights investors need now.

00:00 — Introduction and Listener Questions Overview

00:25 — James' Question on Refinancing Loans

05:43 — Michael's Property Portfolio Deconstruction

18:14 — Nick's Question on Flood Insurance and Property Desirability

20:36 — Insurance Challenges and Borrowing Concerns

22:42 — Gold Coast Property Insights

26:42 — AI's Impact on White Collar Jobs and Property Market

27:59 — Future of Property Market Amid AI Revolution

37:14 — Investment Strategies in a Changing Market

41:50 — AI in Property Decision Making

• Episode 374: How Will Climate Risk Impact Your Property’s Future Value?

Mark Errichiello is a licensed buyers and vendors advocate and the Co-Founder & Director of Master Advocates, a Melbourne-based property advisory firm known for its strategic, data-driven approach to acquisitions, valuations, and auction representation. With decades of hands-on experience, Mark has attended every Block auction since the early seasons and understands the dynamics of high-pressure televised auctions better than most.

Mark has represented bidders in both metropolitan and regional markets — including acting as an anonymous strategic bidder during the Phillip Island Block season — giving him unique insight into how buyer psychology, auction order, and market fundamentals shape outcomes. His commentary cuts through hype and focuses on realistic pricing, fair value, and the long-term risks buyers often overlook.

Respected for his measured, forensic approach, Mark brings clarity to situations where emotion, spectacle, and production expectations collide with real market behaviour. His expertise helps buyers navigate fast-moving environments and make confident, well-informed decisions.

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The Block 2025 auctions were billed as a massive TV spectacle — but what unfolded in Daylesford turned out to be one of the most revealing auction finales the show has aired in years.

Five nearly identical, fully furnished homes were pushed to market on a single afternoon, each carrying price expectations the local market was never built to support. What followed was a rare moment where real buyer behaviour overpowered reality-TV momentum.

To break down what really went on, we’re joined by buyers and vendors advocate Mark Errichiello, who attended the auctions, tracked buyer behaviour, and has followed The Block’s auction patterns for years. Mark explains how quoting in the low $3 millions set unrealistic expectations from day one, how the quality of the build couldn’t compensate for a non-premium location, and why bidder confidence evaporated the moment prices edged toward $3 million.

We unpack the psychological chain reaction inside the room — how the stalled results of House 2 changed the energy for every house that followed, how auction order heavily influenced who bid and when, and why mid-auction reserve changes shattered trust and halted momentum entirely. Mark also highlights overlooked costs buyers faced this year: stamp duty on cars and furnishings, rising Victorian land tax, and the long-term financial drag of prestige builds in regional markets.

This episode strips back the theatre and exposes the real mechanics at play — from buyer sentiment to pricing strategy to the risks of flipping homes far from their emotional sweet spot. If you want the unfiltered version of what The Block 2025 really showed us about Australia’s property market, this conversation is a must-listen.

00:00 – Introduction to the Block Auctions

01:18 – Meet the Expert: Mark Errichiello

01:52 – Auction Day Insights and Challenges

02:52 – Market Realities and Auction Strategies

04:33 – The Block's Unique Auction Dynamics

05:43 – Behind the Scenes: Vendor and Agent Dynamics

09:02 – The Realities of Property Flipping

11:10 – Investment Considerations and Risks

12:28 – Decoy Bidding Strategy

13:38 – Market Sentiment and Future Trends

14:54 – Final Thoughts on the Block Auctions

19:59 – Pricing a Property with Furniture

22:31 – Victoria's Land Tax Changes and Market Impact

24:11 – Strategic Moves and Missteps in Property Auctions

27:24 – Renovation Strategies for The Block

34:34 – Melbourne Market Insights

38:40 – A Memorable Client Story

40:39 – Conclusion and Final Thoughts

• Article: Behind the Hammer Inside The Block 2025 Daylesford Auctions

Mark Errichiello is a licensed buyers and vendors advocate and the Co-Founder & Director of Master Advocates, a Melbourne-based property advisory firm known for its strategic, data-driven approach to acquisitions, valuations, and auction representation. With decades of hands-on experience, Mark has attended every Block auction since the early seasons and understands the dynamics of high-pressure televised auctions better than most.

Mark has represented bidders in both metropolitan and regional markets — including acting as an anonymous strategic bidder during the Phillip Island Block season — giving him unique insight into how buyer psychology, auction order, and market fundamentals shape outcomes. His commentary cuts through hype and focuses on realistic pricing, fair value, and the long-term risks buyers often overlook.

Respected for his measured, forensic approach, Mark brings clarity to situations where emotion, spectacle, and production expectations...

Everyone’s talking about AI as the future of property, but what if it’s quietly distorting how we see value?

Veronica and Chris sit down with Luke Metcalfe, founder of Microburbs and DataScape, to reveal why precision in property data is often just an illusion. Luke, one of Australia’s leading data scientists, reveals why many AI-driven tools sound convincing but are often wrong — and how they can even manipulate our confidence in property decisions.

From understanding what AI models are actually trained to do, to exploring why machine learning can’t yet capture local nuance or human psychology, this episode challenges the blind faith many investors place in “data-driven” insights.

Luke explains the difference between language-based AI and number-based forecasting models, the dangers of herd thinking in machine learning, and how misinformation spreads faster when machines start selling the dream.

If you’ve ever wondered whether AI could replace your buyer's agent — or if you’ve trusted a chatbot to tell you where to buy next — this is your wake-up call. Tune in to learn how to question the data, test the claims, and keep human intuition at the heart of smart investing.

00:00 – Introduction: The Illusion of Precision in Property Data

00:27 – Guest Introduction: Luke Metcalfe

01:50 – AI's Role in Property Decisions

03:09 – Challenges and Limitations of AI in Real Estate

05:16 – The Psychology of AI and Property Investment

07:41 – AI's Persuasive Power and Ethical Concerns

12:26 – Future of AI in Property Forecasting

26:37 – Granularity and Local Knowledge in Property Data

30:01 – The Importance of Human Experience in Property Evaluation

37:18 – The Impact of Crime on Property Markets

39:36 – Melbourne's Property Market Sentiment

41:40 – The Role of Data in Real Estate

47:36 – Future Trends and Technological Impacts

Luke Metcalfe is an Australian entrepreneur and data scientist known for pioneering the use of large-scale analytics in understanding neighbourhood performance and property trends.

After launching NationMaster, a global data platform attracting over 10 million monthly visitors, Luke founded Microburbs, a liveability and housing data company providing hyperlocal insights that help buyers, investors, and agents make informed decisions. He now leads DataScape, exploring the intersection of AI, big data, and human behaviour in real estate.

Renowned for his first-principles approach and his ability to translate complex data into clear, actionable insights, Luke continues to shape how Australians understand location intelligence and property forecasting in an increasingly AI-driven world.

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Property investment has entered dangerous new territory. What used to be about building long-term wealth has become clouded by hype, shortcuts, and unqualified advice. Investors are being drawn into speculative schemes disguised as strategy.

In this episode, Veronica and Chris sit down with Ben Kingsley, Founding Managing Director of Empower Wealth and Chair of the Property Investors Council of Australia (PICA), to unpack the alarming resurgence of speculative, misleading, and unlicensed property advice spreading across Australia.

Ben recently authored an open letter to industry associations, warning of “get-rich-quick” operators, social media influencers, and unqualified advisors encouraging investors to buy properties through risky trust structures and self-managed super funds. He reveals how these practices are distorting regional markets, luring naive investors, and potentially triggering a regulatory backlash that could reshape the entire property sector.

From “pump and dump” tactics to trust lending loopholes and the rise of volume-driven buyer’s agents buying sight unseen, this conversation exposes the systemic risks emerging from the unregulated fringes of the industry. Ben, Veronica, and Chris also explore how social media hype, FOMO marketing, and easy credit are fueling another wave of short-term speculation that could end in disaster.

If you care about the future of Australia’s property market—or just want to protect yourself from being swept up in the next boom-and-bust cycle—this is an episode you can’t afford to miss.

00:00 — Why Risky Property Advice Is Back on the Rise

01:36 — Speculative Behaviour: The Return of Fast-Money Mindsets

02:25 — How Speculation Threatens Consumers and Market Stability

03:59 — Unlicensed Advisors and the Power of Social Media Influence

06:14 — Regional Market Distortions: When Buyer’s Agents Go Rogue

08:21 — Will ASIC Step In? The Push for Property Regulation

10:16 — The Role (and Responsibility) of Brokers and Buyer’s Agents

13:01 — What Happens Next: Ben’s Call for Industry Reform

32:06 — Rising Prices, Rising Pressure: The Human Cost of Property

33:51 — Regional Boom or Bubble? Understanding the Market Risks

36:41 — Property Prices vs. Fundamentals: When Growth Defies Logic

39:47 — Speculation vs. Strategy: The Long-Term Investment Divide

42:14 — Economic Viability: The Missing Piece in Modern Investing

49:00 — Building a Sustainable Property Business, Not a Hype Machine

52:41 — Owning Mistakes and the Power of Industry Accountability

54:26 — Final Thoughts: Restoring Trust in Property Advice

• Article: https://pica.asn.au/alarm-unlicensed-advice-market/

Ben Kingsley is the Founding and Managing Director of Empower Wealth and the inaugural Chair of the Property Investors Council of Australia (PICA). A Qualified Property Investment Advisor (QPIA) and one of Australia’s most respected voices in property, finance, and money management, Ben has spent over two decades advocating for professional standards and consumer protection in the property investment sector.

A multi-award-winning advisor and frequent media commentator, Ben co-authored two bestselling books — The Armchair Guide to Property Investing and Make Money Simple Again — and co-hosts The Property Couch, Australia’s #1 property, finance, and money management podcast. Through Empower Wealth, Ben leads an integrated team of experts providing holistic financial advice across property, finance, tax, and wealth management.

Driven by his belief that...

There’s a side of the property market most Australians never see — where listings don’t make headlines, and deals happen behind closed doors.

In this episode, we step into that world of discretion and discovery with William Laing, Co-Founder and CEO of Quiet List, to explore how off-market sales are quietly reshaping the real estate landscape.

With nearly one in five Sydney homes now trading off-market, William reveals how private listings are redefining demand and changing how agents, buyers, and sellers connect. From price-testing vendors and privacy-driven sellers to the rise of buyer’s agents and agent-only platforms, this hidden layer of the market is rewriting the rules of access and advantage.

Together, we unpack what truly counts as an off-market listing, why so many sellers are choosing to go quiet, and what this shift means for transparency in Australian property. It’s a conversation that cuts through the hype to reveal the data, dynamics, and ethics shaping the industry’s most exclusive corner.

If you’ve ever wondered what happens before a listing goes live, or why some of the best opportunities never make it online, this episode gives you a rare glimpse into the quiet art of deal-making in today’s property market.

00:00 – Introduction

01:16 – Guest Introduction: William Lang of Quiet List

01:48 – Understanding Off-Market Listings

03:40 – Challenges in Off-Market Transactions

08:27 – Quiet List: The Business Model

08:40 – Appreciating the Role of Buyer's Agents

18:03 – Privacy and Transparency Issues of Off-Market Deals

26:18 – Real Estate Platforms

28:05 – Challenges and Changes in Agent Processes

28:45 – Advantages of Centralized Briefs

31:03 – Off-Market Deals and Relationships

32:23 – Platform Features and Future Directions

41:53 – Real Estate Market Dynamics and AI

42:33 – Property Dumbo

William Laing is the Co-Founder and CEO of Quiet List, Australia’s first agent-only property platform transforming how real estate professionals connect qualified demand with quiet supply.

With more than a decade in luxury residential real estate — including roles with Kay & Burton, Knight Frank, Savills, and The Agency — William built his career around discretion, trust, and deal-making. His experience handling high-end, off-market transactions inspired Quiet List: a platform that helps agents capture the 20% of property deals that happen behind closed doors.

Today, William is helping agents nationwide turn “quiet listings” into smarter, more transparent transactions — bringing structure, security, and speed to a part of the market that’s always operated in whispers.

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Australia’s strata system was once a clever solution to urban living — a way to share land, lift homeownership, and build communities in growing cities. But decades later, that same framework is struggling to keep up with modern life.

What once worked for small, low-rise communities now governs the high-density towers that house millions of Australians. The result? Costs have climbed, decision-making has grown more complex, and owners often find themselves footing bills for problems they didn’t create

In this episode, Prof. Cathy Sherry — Professor at Macquarie Law School and Executive Member of Smart Green Cities — explains how Australia’s outdated strata laws are now out of step with the country’s housing and sustainability goals. A leading international expert in land law and high-density development, Prof. Sherry unpacks how laws written in the 1960s for small walk-ups can’t handle the complexity of modern cities, locking owners into costly contracts, rising levies, and embedded energy networks that limit both choice and progress.

From the hidden costs buried in off-the-plan sales to the barriers stopping apartments from going solar, Cathy reveals how a system designed to help Australians share space has instead made it harder to live well, live green, and live fairly.

Listen now to learn why reforming strata isn’t just a legal fix — it’s key to building a fairer, more sustainable housing future for everyone.

00:00 – Introduction

01:16 — Meet Prof. Cathy Sherry: Australia’s Leading Expert on Strata Law

01:50 — How Shared Living Became Complex: The Challenge of Strata Ownership

03:15 — Strata Levies, Legal Layers, and Why Collective Ownership Is Tricky

06:37 — The Hidden Dangers of Buying Off-the-Plan Apartments in Australia

11:09 — Embedded Networks Explained: The Hidden Costs of Strata Energy Deals

20:18 — Can the Law Catch Up? Why Strata Reform Is Urgent for Modern Cities

26:00 — Stratum Lots and Mixed-Use Buildings: Understanding Shared Land Titles

26:48 — What Strata Management Statements Mean for Building Governance

27:32 — Why Prof. Cathy Sherry Advocates for Fairer and Smarter Housing Laws

28:54 — High-Density Housing Challenges: When Bigger Doesn’t Mean Better

30:11 — Why Home Ownership Still Matters for Stability and Social Equality

31:51 — Where Strata Schemes Fail: Issues With Governance and Accountability

35:23 — How Investor Incentives Have Shaped Australia’s Housing Market

43:27 — Smart Green Cities: Connecting Strata Reform to Sustainability Goals

44:42 — Property Dumbo: A Real-World Example of Strata Mismanagement

46:20 — Final Reflections and Where to Learn More From Prof. Cathy Sherry

• Article: Embedded networks in high-density and master-planned housing

Cathy Sherry is a Professor in Macquarie Law School and Executive Member of Smart Green Cities. She is a leading international expert in land law, with a particular focus on high density development. Her book Strata Title Property Rights: Private governance of multi-owned properties (Routledge, 2017) is the first academic monograph on Australian strata title. It has been cited by the Privy Council and the New South Wales Court of Appeal. Professor Sherry's research focuses on the complex legal, economic and social relationships created by collectively owned land.

Professor Sherry regularly advises governments, domestically and internationally, on the laws governing multi-owned properties. She was a member of the United Kingdom Law Commission Technical Committee for the...