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The Elephant In The Room Property Podcast | Inside Australian Real EstateWe talk about the things no one wants to talk about in the Property Market Author: Chris Bates
Who's really in control when you buy a property? The Elephant In The Room is where the things that no one wants to talk about, actually get talked about. Veronica Morgan, real estate agent, buyers agent and co-host of Foxtels Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out whats really going on in the world of real estate. Veronica and Chris talk to property owners and buyers every day in their respective lines of business. Theyve observed a wide spectrum of confidence in peoples decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together theyre going to uncover whos really making the decisions when you buy a property. In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode youll learn from the mistakes of a property dumbo as well as Chris & Veronicas elephant rider bootcamp training session. The plan? This property podcast has been created to help us all make better property decisions! Language: en Genres: Business, Business News, Investing, News Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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The Reality of Buying a Home with a 5% Deposit in Australia
Episode 431
Sunday, 5 April, 2026
For many Australians trying to enter the property market, the promise of buying a home with just a 5% deposit sounds like a breakthrough.Government-backed schemes designed to support first home buyers have made headlines, but how much do they actually help buyers in practice? And what happens when thousands of buyers suddenly gain access to the same opportunity?In this episode, Veronica and Chris sit down with mortgage broker and National First Home Buyer Specialist Jack Elliott to unpack how first home buyer schemes actually work from the lending side. They explore the mechanics behind borrowing capacity, the role banks play in approving these loans, and the reality buyers face when trying to secure property in an increasingly competitive entry-level market.The conversation also dives into the unintended consequences of these policies. While schemes like the First Home Guarantee can lower the barrier to entry, they can also increase competition in the very markets first home buyers are targeting. As more buyers gain access to financing, the question becomes whether these policies truly improve affordability—or simply shift the dynamics of demand.If you're considering buying your first property or trying to understand how government incentives shape the market, this episode offers a grounded look at how these schemes operate in the real world—and what buyers need to know before stepping in.Episode Highlights00:34 — Meet Mortgage Broker Jack Elliott04:41 — How the First Home Guarantee Scheme Works06:36 — The Hidden Risks of 95% Home Loans12:48 — Buyer Rush and Rising Market Competition17:19 — Eligibility Rules First Buyers Must Understand19:39 — Planning for Long-Term Home Ownership24:51 — Price Caps and the Resale Ceiling Problem27:11 — How Bigger Deposits Change Buyer Strategy28:22 — When First Home Buyers Should Use a Buyers Agent32:05 — Why First Home Buyers Struggle to Enter the Market35:30 — Why Patience Matters in a Hot Property Market37:24 — Why Property Can Be Easier to Sell Than Buy42:49 — Who Should Consider Shared Equity Schemes47:09 — New Loan Products Buyers Should Watch49:05 — Policy Risks Around New Build Incentives54:06 — The Danger of Buying Property in a Rush55:13 — Final Advice for First Home BuyersAbout the GuestJack Elliott is a mortgage broker and National First Home Buyer Specialist who works directly with Australian home buyers navigating the lending process. Through his work, Jack helps clients understand their borrowing capacity, structure loan applications, and secure financing across a range of lenders.With day-to-day exposure to how banks assess risk, deposits, and borrower profiles, Jack brings a practical perspective on how lending policies and government incentives influence the property market. His experience working with first home buyers provides valuable insight into the challenges many Australians face when trying to secure their first home.Connect with JackJack’s LinkedInAlcove Mortgage AdvisoryFirst Home UnlockedFirst Home Unlocked | Podcast on SpotifyFirst Home Unlocked - PodcastFirst Home Unlocked - YouTubeFirst Home Unlocked (@firsthomeunlocked) • Instagram photos and videosFirst Home UnlockedFirst Home Unlocked’s TikTokFirst Home Unlocked’s LinkedInResourcesVisit our website: https://www.theelephantintheroom.com.auIf you have any questions or would like to be featured on our show, contact us at:The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.auLooking for a Sydney Buyers Agent? https://www.gooddeeds.com.auWork with Veronica: https://www.veronicamorgan.com.auLooking for a Mortgage Broker? alcove.com.auWork with Chris: chrisbates@alcove.com.auEnjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in real estate. Your journey starts now!Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcastSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXCathy0?si=26cde394fa854765If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!See you on the inside,Veronica & Chris
