Covid-19 Property Market Update – Ironfish Melbourne CBD

Gain insights on:

• How COVID-19 is impacting the property markets today, and how the markets are anticipated to perform after COVID-19 has passed

• How the rental market will be impacted in the short and medium term

• What impact the Government’s stimulus package will have on the economy

• Is further economic stimulus expected, and how this could directly influence the residential market

Guest Speaker:

Dr Andrew Wilson (Chief Economist, My Housing Market)

Dr Wilson provides comprehensive property market intelligence to industry, investor groups and the wider community.

He is a highly-regarded and prolific housing market speaker, a keynote presenter for the Committee for Economic Development of Australia (CEDA) and an appointed housing market expert and adviser to the Federal Government funded Australian Urban Research Infrastructure Network.

Dr Wilson holds a PhD and Masters by Research each in Housing Market Economics together with graduate qualifications in Econometrics and Construction Economics.

Dr Wilson’s experience spans senior property and construction economist and research positions within industry, academia and government. He has published research in various academic journals and industry publications, covering a wide range of residential property and construction issues.

Dr Wilson is also one of Australia’s highest profile property market commentators appearing regularly through a broad spectrum of TV, print, radio and online media.

Speaker:

Will Mitchell (Head of Property, Ironfish)

Will leads Ironfish’s Research & Listings team, and travels regularly speaking with the nation’s leading developers, research firms and financiers to gain a clear picture on each of the capital city markets.

In his early 20s, Will was in a career that left him uninspired, and as he set to the task of considering different options, he started reading about property, having always had an interest from a young age. After consuming a significant number of books in a very short period of time, he realised this was something he was truly engaged with. So, he studied a Masters of Property Development, secured his first job in the industry, and started saving towards his first investment. This journey eventually led him to Ironfish.

“The Ironfish culture is incredibly supportive. It’s fantastic to be surrounded by a group of colleagues who are passionate about what they do and most of whom are active investors or working towards their first purchase. Investing does have its challenges and everyone questions their investments from time to time; whether the hot water system needs replacing or a tenant moves out – there’s always a reason to want to get rid of an investment. But having the positive reinforcement and encouragement from people around me is quite powerful and acts as a strong reminder to hold onto property long term. Consistent and ongoing education is so important too; as a group, we’re constantly exposed to education on the markets along with long term investment strategies. Having this consistent messaging is very motivating.”

Making a start

Once Will decided to make a start as an investor, he was committed to saving to achieve his goal. He was fortunate enough to be living at home, and by making some compromises and saving hard, over a 2-year period, he managed to save enough for his first deposit.

“I think for many people there’s always going to be a reason not to invest. A perceived time in the future when you’ll have a bigger salary to afford your preferred suburb, or build your deposit faster, or think that prices will be cheaper in the future somehow, but the time to act is now. The longer you leave it the harder it will become and the sooner you act the more benefit you will gain over time. The first investment is definitely hardest, but it is not something you will regret in the future.”