MCG in the Media

Q1 2024

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Should the Federal Government dump negative gearing and CGT discounts? Expert says, “Not so fast.”

Thierry Ng - The Property Tribune - February 16, 2024

MCG Quantity Surveyors’ managing director, Mike Mortlock, told The Property Tribune that these criticisms of negative gearing and CGT discounts are misguided.

“The private market has been doing what it does for a long time, and demonising investors trying to remove themselves from the $50 billion a year, aged pension cost to the budget has led to the situation we’re in now,” he said.

Mortlock slammed the framing of negative gearing and CGT concessions as “handouts”, contending that it is a tax deduction applying to all asset classes.

“Negative gearing is a deduction for losses made during the course of owning an asset. These don’t apply to just property, but every asset class."

[Podcast] Stop picking on property investors with Mike Mortlock

Michael Yardney - PropertyUpdate.com.au - February 15, 2024

In today’s show, I'll discuss the complexities of Australia's housing market with my guest Mike Mortlock, the director of MCG Quantity Surveys.

In our conversation today, we spoke about lots of interesting things that will give you some insights into our housing market.

In particular, we explore a disturbing “tall poppy syndrome” narrative that’s taken place over the last little while. It puts property investors in the role of villains who are against the Australian dream of home ownership, and we believe this is an unfair and inaccurate portrayal.

We explain why that’s inaccurate and tell politicians it’s time to stop picking on property investors.

We also talk about the rental crisis, what's ahead for our property markets, and Mike’s views on what will happen with AI and the property markets.

Regional areas emerge as sanctuaries from the rental crisis

Rowan Crosby - Elite Agent - February 14, 2024

MCG Quantity Surveyors found that there is a growing trend among Australians to reassess their living arrangements amidst the tough housing conditions in the capital cities.

Renters are currently drawn to regions like Armidale in NSW and Churchill in Victoria, which offer more rental options and a better lifestyle.

MCG Quantity Surveyors Managing Director, Mike Mortlock, said the regions were appealing to a lot more renters.

“The allure of regional living is becoming increasingly irresistible, especially as urban centres continue to tighten their hold on renters,” Mr Mortlock said.

 

Rental hunger games: Where QLD tenants should look now

Samantha Healy - Courier Mail - February 12, 2024

A report by MCG Quantity Surveyors looked at over 70 suburbs outside of the major capital cities nationally, identifying “welcoming rental markets” in each state. It was a task that managing director Mike Mortlock said spotlighted “the acute scarcity impacting broader regions”.

But it was slim pickings in Queensland, with just 12 SA2 areas making the cut compared to 26 each in NSW and Victoria, both of which have seen substantial migration to the Sunshine State since the start of the pandemic in 2020.

“While the list may be smaller than desired, it underscores the reality of Australia’s tight rental market,” the report said.

Why investors are rushing back to buy real estate again

John McGrath - Daily Telegraph, Courier Mail - February 9, 2024

Investors are opening their minds to opportunities in different markets, and this is motivating them to consider new options. As discussed in this year’s McGrath Report, ‘remote investing’ is a trend on the rise.

Research by MCG Quantity Surveyors shows the average distance between landlords’ homes and their investment properties is growing rapidly. It surged to 1,502 km in the year to November 2023 – almost double the 857 km recorded in the year to November 2022 and an enormous change compared to the 294 km average before the pandemic.

Will 2024 be 'the year of the property investor'?

Mike Mortlock - Smart Property Investment - January 24, 2024

Market experts are predicting the national property market to grow anywhere between 1.5 per cent and 8 per cent. It’s a wide range, but then that is across multiple opinions. Meanwhile, there are bank economists expecting some locations (i.e. Perth and Brisbane) will come close to, or even exceed, double-digit capital gains in 2024.

I tend to agree with these assessments. The fundamental supply/demand imbalance across capital city markets will continue to bolster the chance of capital gains. I wouldn’t be surprised to see properties achieve more than 10 per cent over the next 12 months in some instances.

Revealed: The hardest suburbs in Australia to find a rental in

Miriah Davis - 9News - January 11, 2024

As Australia's rental crisis drags on, new data from MCG Quantity Surveyors' has revealed the postcodes with the lowest rental listings in December.

"In areas like Greater Sydney and Regional NSW, we're seeing a significant crunch in available rentals, putting immense pressure on renters," said Mike Mortlock, Managing Director of MCG Quantity Surveyors.

"Regions like Greater Melbourne and Greater Brisbane, which traditionally have robust rental markets, are showing an alarming decrease in rental listings."

MCG Quantity Surveyors data reveals hardest Australian postcodes in which to find a rental property

Molly Magennis - 7NEWS - January 11, 2024

MCG said these figures collectively indicate “severe shortages” of rental properties in various regions, with “some postcodes exhibiting extremely low numbers of rental listings despite having substantial rental markets”.

The company’s managing director Mike Mortlock said the decrease in rental listings in Victoria and Queensland in particular was “alarming”.

“Regions like Greater Melbourne and Greater Brisbane, which traditionally have robust rental markets, are showing an alarming decrease in rental listings,” he said.

Key Australian property market trends of 2024

Ryan Johnson - Broker News - January 6, 2024

MCG Quantity Surveyors managing director Mike Mortlock told The Sunday Times it was the first time WA had recorded double digit share of the investor pool.

Mortlock, however, offers a contrarian view, anticipating an upper limit of 8% growth due to ongoing supply shortages.

“The pace of construction cost growth will slow since supply chain pressures we saw during COVID have returned to normal,” Mortlock said. “However, there is still a significant shortage of construction labour, exacerbated by the pipeline of government infrastructure projects.”

Mortlock called the target of building 1.2 million homes over five years from July 1, 2024 “fanciful at best, but nigh on impossible” given the current labour shortages among construction companies.