Buyer sentiment dropping?

Migration about to kick up a gear, and listings dropping. We could be in for an even stronger summer here!

 

And another big drop in listings across regional QLD too.

Boom times ahead for QLD when the border reopens!

 

Looks like Melbourne has a massive oversupply though?

Better open up a few new ASX 200 company headquarters quick smart to mop up the damage

 

Yes but don't forget Melbourne has been in total lockdown. A lot of ground to make up. Listing's are higher but turnover is keeping pace.

 

Will be interesting to see if listings rise or fall in Melbourne over the coming months?

 

As much as the lockdowns caused havoc, you've gotta hand it to Dan The Man. Melbourne still on the world map, for sure.

 

And I think it will continue to do so as long as the regional area has more than one economic driver coming from within the area.

 

Remote work is becoming much more normalized.

So moving forward...the drivers no longer have to come from the area; the drivers can actually come from anywhere in the world.

 

If remote workers all in India, how does that help queensland?

 

These guys saying its never been stronger in melbourne. https://marketnews.com.au/
And anecdotally, a couple of engineers from work having major issues trying to buy in outer south east melb 40 ks out. I would make the general point again though, this is mostly covid driven ie stimulus and fomo. ( a bit like post gfc) As things return to normal and economy stronger, thats not actually good for an asset whose growth relies on stimulus. I dont see qland as different. The borders were actually open pre covid ......

 

People will be able to live and work from wherever they choose.

So you reckon people will choose to live and work from India instead of Queensland?

You want to rethink that premise?

Queensland will experience massive population growth and thus demand for housing over the next decade.

It's a done deal mate.

 

I think the point that was being made is that if your job can be done from home could it not be done just as well from India for a fraction of the cost?

I personally believe that wfh is largley a passing fad, although elements of it will remain as more of an employees 'employment package'. It won't be a new norm for the majority.

Ill agree that Queenslands population will continue to grow because everyone south of the border seems to be moving there to retire. The younger cohort see it (mainly Brisbane and surrounds) as a cheaper alternative to Sydney or Melbourne which it is... until the day its not.

 

Lol..anybody who says "they can just replace locals with those from India, Philippines , Vietnam, etc" obviously haven't directly managed such teams.

The difference in quality is night and day and many companies have started to learn this after giving a red hot go after the last decade. These days as well they are commanding 3/4 sometimes of an Aussie salary, and that will only increase.

Good quality Australians will always be in demand. If the workers demand they work remote then many companies will just have to adapt if they want the skills.

 

If Aussie companies are so interested in employing Indians why are there thousands of WFH positions available right now on SEEK for Aussies?

Further, numerous Universities and other organizations have conducted research over the previous 12 months that investigates whether or not remote work will become more normalized.

All of the above research demonstrates that WFH will become normalized to a much greater extent in the coming years; company overheads are substantially reduced without any loss of productivity; the majority of workers are happier.

So as per usual...some companies and individuals will adapt and thrive whilst others will refuse to accept the world has forever changed and thus struggle to remain competitive and successful.

 

And maybe those companies that dont adapt to cheap oseas talent will also struggle to remain competitive. Not saying its all smooth sailing, but as we become better and better at managing wfh then in parallel we will becone better and better at managing foreign based workers .... and as we become more and more connected then cultural variances will decrease and be more manageable. In other words, be careful what you wish for. We may find the best paid jobs are the ones where you cant wfh as those are the ones that cant go oseas.

 

As @gman65 said: it's about the quality of the worker; you get what you pay for.

Or to put it another way...if you pay peanuts you get monkeys.

And I don't know of any innovative, successful Aussie companies that are interested in employing monkeys mate.

 

Or if you pay peanuts you might get a competent worker getting paid a great salary in their home country. We have 10pct of our devs in vietnam. There are difficulties but for a fifth the cost of a local its great value. Assuming anglo culture remains ascendant they will be able to easily leverage western uni degrees, language and culture without leaving home. The main competition for many jobs we do now will be between foreign wfh and machines.
And if you can wfh, why queensland? Why not bali, thailand, bahamas ..... far cheaper.

 

Seriously though, has anyone looked into investing in foreign lifestyle locations (i know many have restrictions). I would have thought the expat wfh impact could be exponential.

 

I wouldn't say it is because of a lack of interest (yet), rather there are more immediate issues for companies to deal with right now.
Give normality an opportunity to return and I'm sure the think tanks, consultants, and other talking heads will start asking the question.

I'm all for the benefits wfh can bring to society, but I believe it will fizzle out to a privilege reserved for a few and not the norm for all.
The other real possibility being as I elude to above - if you can work remotley then why can't be job be done remotely by anyone else in the world.

Only the next few years will tell.

 

Peanuts is a relative term.
What I consider peanuts in Australia might attract the best and brightest in another country's society. Besides, 'best in class' is a marketing term, 'fit for purpose' is closer to reality .