Budget, Bricks & the Bottom Line: What Sydney's Property Market Really Looks Like Right Now
Bernadette sits down with Bernadette Summers, an 18-year real estate veteran and founder of Eastern Beaches Property, for an unfiltered cup of tea and a frank look at what the Federal Budget actually means for property investors and renovators in the current market.
With three rate rises, a war, Easter, and now a budget all landing in quick succession, it is fair to say Sydney's property market has had a rough few months. But as Bernadette Summers points out, she has seen this before, through the Banking Royal Commission and through COVID, when predictions of 40% price drops were followed by a 30% boom. Her message: stay calm, know your numbers, and pivot your strategy rather than your principles.
The good news for most listeners is that the principal place of residence came through the budget untouched, and as Bernadette Summers reminds us, the lesser-known six-year rule means you can rent out your family home and retain your CGT exemption, a powerful and underused wealth tool. For renovators weighing up their next move, the two of them dig into flipping inside a company structure, why discretionary trusts are under the microscope, and a micro-development strategy that can effectively deliver land at no cost.
This is not a "doom and gloom, wait it out" episode. It is a clear-headed, practical conversation for anyone who wants to understand the landscape before they act and to act wisely when they do.
If you have been sitting on a decision because the market feels uncertain, or wondering whether to flip, hold, rent, or redevelop, this episode cuts through the noise and gives you a framework for thinking it through.
Tune in for a real conversation between two women who have been around the property block and who know that the right strategy, in any market, always starts with knowing your numbers.
"It's very important that you don't panic. Nothing's been set in legislation yet, so we don't actually know what the final outcome will be."
EPISODE HIGHLIGHTS:
00:00 Welcome & Introducing Bernadette Summers
01:00 About Eastern Beaches Property: 18 Years in Sydney Real Estate
02:00 The Budget Reaction: Why Everyone Needs to Take a Breath
03:00 Market Lessons from COVID, Rate Rises & the Banking Royal Commission
05:00 The Big Win: Principal Place of Residence Left Untouched
05:45 The Six-Year Rule: How to Rent Your Home Without Losing Your CGT Exemption
07:00 Using a Money Tree or Short-Term Rental to Offset the Changes
08:30 Flipping in the Current Climate: What's Actually Changed
09:15 Company Structures, Tax Rates & Why You Must Know Your Numbers
11:00 How Cheeky Should You Be? Negotiating the Purchase Price
15:00 The Housing Shortage: Are We Actually That Far Behind?
18:30 Negative Gearing and the CGT Concession: What We Know So Far
20:30 Micro-Development: The Strategy That Gets You Land for Free
23:00 Sydney Market Right Now: Soft, But Resilient
24:30 Before You Sell: Why an Appraisal Is Your First Move
26:00 Presentation That Pays: Declutter, Street Appeal & Don't Shoot the Messenger
29:00 How to Reach Bernadette Summers & Where to Find Her Free Booklet
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