John Foong is Chief Revenue Officer at Domain. With a management background at companies such as Uber and Google, John is bringing his passion for people and property together to build Domain’s market place strategy.
In this episode of Property Insights, John shares how his personal and cultural background has influenced his approach to real estate. Together with Mark he expands on practical aspects of successful property investment and key features of today’s property markets.
Key Takeaways:
- John discusses family and cultural influences on his approach to property investment. He suggests that Southeast Asian and migrant investors can be characterised by an inclination to save and utilise available leverage as well as by the value they place on the security of property assets.
- Stay safe when investing: John highlights safe leveraging and having or accessing expertise in an area before deciding to invest in it as important attributes of successful property investment. He also discusses the value of clear ownership and legal agreements, and the use of deeds to safeguard each parties interests when co-investing.
- Rising interest rates and inflation has impacted buyer confidence and led to a shift in the mix of properties and areas performing over the last financial year. This has left investors unsure when to buy or sell. John’s advice? ‘Don’t try and time the market, maximise your time in the market.’
- ‘It’s hard to beat Sydney.’ Domain’s systems analysis looks at the interface of demand and scarcity to predict investment opportunities as, as John points out, the scarcity of property and the demand for it, especially from millionaires relocating to Australia, are key drivers of the property market right now.
- Mark and John wonder why Melbourne’s real estate market is not responding as effectively as Sydney’s, whereas Canberra retains its stable housing market and strong tenant base.
