The Elephant In The Room Property Podcast | Inside Australian Real Estate

Melbourne is back in the spotlight, with many buyers and investors asking whether the city now offers one of the best opportunities in the country.
But broad market narratives can be misleading—especially in a city where different segments are moving for very different reasons.
In this episode, Jarrod McCabe joins us to unpack what’s really happening across Melbourne in 2026. From first home buyers re-entering the market to local investors stepping back and interstate buyers stepping in, the city is being shaped by multiple forces moving in different directions.
We explore why Melbourne is no longer a market that can be understood through broad averages alone. Jarrod explains the growing importance of asset selection, why some properties may outperform while others stagnate, and how taxes, policy changes, apartment oversupply, and shifting buyer behaviour are reshaping the investment landscape.
If you’re considering Melbourne property, this episode offers a grounded look at where the risks are, where the opportunities may lie, and why buying based on simple narratives could be an expensive mistake.
Episode Highlights
02:43 — Costly Melbourne Mistakes Interstate Buyers are Making
05:36 — Why Melbourne Moves in Different Price Quartiles
08:52 — Outer Suburbs Face Major Supply Risks
10:20 — Developer Hotspots, Strata and Hidden Risks
13:16 — What Properties Still Outperform in Melbourne
17:37 — Is There Real Pent-Up Demand in Melbourne?
19:45 — Confidence, Rate Cuts and Buyer Hesitation
22:06 — Taxes, Investor Sentiment and Market Exits
25:25 — Rental Rules and Unintended Consequences
28:47 — Are First Home Buyers Getting Stitched Up?
33:45 — Infrastructure Booms and Buyer Beware Zones
35:48 — Melbourne Livability vs Victoria’s Debt Problem
37:43 — Geelong Hype vs Property Price Reality
40:42 — Regional Markets and Investor Herding Risks
47:30 — Timing the Bottom: Psychology vs Reality
50:51 — Upgrade Opportunities vs Job Uncertainty
53:48 — Final Thoughts and Listener Questions
About the Guest
Jarrod McCabe is Director of Wakelin Property Advisory, one of Melbourne’s most respected independent buyer advocacy firms.
With more than two decades of experience in Melbourne’s inner and middle-ring markets, Jarrod has helped clients navigate multiple market cycles through a disciplined, research-driven approach focused on long-term asset selection.
Known for combining valuation expertise with on-the-ground buyer insights, Jarrod brings a practical view of Melbourne property—cutting through hype to focus on what actually drives performance.
Connect with Jarrod
Website | Wakelin Property Advisory
LinkedIn | Wakelin Property Advisory
Facebook Page | Wakelin Property Advisory
LinkedIn | Jarrod McCabe - Wakelin Property Advisory

Resources
Visit our website: https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at:
The Elephant in the Room Property Podcast - [email protected]
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? alcove.com.au
Work with Chris: [email protected]

Enjoyed 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!
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If 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

Australia’s housing challenges are often reduced to a question of supply, but the reality is far more complex.
In this episode, we step back to examine the broader forces reshaping housing demand—from rapid population growth and an ageing society to changing household structures. The result is not just a shortage of homes, but a system struggling to keep pace with how Australians live today.
We unpack the key forces driving this shift, from record migration levels and declining birth rates to the rise of multi-generational living and internal migration across states. These aren’t short-term trends—they’re structural changes that are already influencing where people live, how they live, and who gets access to housing. Along the way, we also explore the growing divide between those who benefit from family support and those who don’t, and how that’s quietly accelerating inequality.
The conversation also touches on the pressure facing key workers, the limits of current housing policies, and why simply building more homes may not be enough to solve the problem. There’s also a broader discussion around education trends, workforce changes, and how technology—particularly AI—is adding another layer of disruption to an already complex system.
This episode isn’t about quick fixes. It’s about understanding the underlying drivers so you can make better, more informed decisions in a rapidly changing environment. Because if you’re still looking at housing through a narrow lens, you’re likely missing what’s actually shaping the market.
Episode Highlights
02:44 — Australia’s Record Population Growth Explained
03:47 — The Pressure of an Ageing Population at Home
06:35 — Why Australians Are Moving More Than Ever
07:58 — Hybrid Work and the Key Worker Housing Gap
12:46 — Why Private School Enrolments Keep Rising
16:14 — Fewer People Per Home, More Housing Needed
18:41 — The Aussie Dream Is Changing Fast
20:30 — The Rise of “Giving While Living” Wealth
24:30 — The Growing Divide Between Generations
26:07 — Retirement Risks Without Financial Buffers
26:44 — Why Australians Are Working Longer
27:25 — Census Night: What It Reveals About Australia
30:42 — What the Census Gets Right (and What It Misses)
32:40 — AI Hype vs Reality: Why Sentiment Is Shifting
34:54 — The Skills That Will Matter in an AI World
37:36 — Living in an Era of Constant Disruption
42:04 — Misinformation, Trust, and Modern Democracy
44:34 — A More Fragmented Australia Emerges
47:01 — What It All Means for Property
About the Guest
Mark McCrindle is a leading Australian social researcher and demographer, and the founder of McCrindle Research. He specialises in analysing population trends, generational shifts, and the social forces shaping modern Australia.
With decades of experience working across government, corporate, and media sectors, Mark is known for translating complex data into clear, actionable insights. His work draws on census data, longitudinal research, and behavioural analysis to help organisations and individuals understand how demographic change impacts everything from housing and education to workforce trends.
In this episode, Mark brings a macro lens to the housing conversation—connecting the dots between population growth, aging, migration, and the structural challenges facing Australia today.
Connect with Mark
LinkedIn - Mark McCrindle
Website - McCrindle Research
Instagram - Mark McCrindle

Resources
Visit our website: https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at:
The Elephant in the Room Property Podcast - [email protected]
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? alcove.com.au
Work with Chris: [email protected]

Enjoyed 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-podcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E

If 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

When you hire a property advisor, there’s an assumption built into that decision: you’re getting expertise, guidance, and some level of protection if things go wrong. But how much of that protection actually exists—and where does it break down?
In this episode, we unpack the role of Professional Indemnity (PI) insurance in property advice, and what it really tells you about accountability, risk, and the quality of advice you’re relying on.
Joining us is Polina Kesov, an insurance specialist with over two decades of experience working behind the scenes on claims, risk, and policy structures. Together, we explore the blurred line between “execution” and “advice,” why many buyer’s agents and property investment advisors may not be properly covered for the services they’re offering, and how something as simple as a policy exclusion can leave both advisors and clients exposed.
We also dive into why claims in property advice are so rare—not because everything is working, but because proving loss is complex, delayed, and often not actionable. From cookie-cutter strategies and disclaimers to the growing use of AI in advice, this episode breaks down the structural gaps that most investors never see until it’s too late.
If you’re relying on professional guidance to make high-stakes property decisions, this conversation will change how you assess risk. Because in property, it’s not just about whether the investment performs—it’s about what happens if the advice behind it doesn’t.
Episode Highlights
04:17 — Can Property Advisors Actually Get Covered?
06:01 — What Makes a Property Advice Claim Valid?
09:25 — Repeat Offenders and the Lack of Transparency
11:42 — Marketing Hype vs Where Advice Crosses the Line
16:10 — How Claims Impact Insurance Renewals
21:01 — Real Claims Against Buyer’s Agents Explained
24:55 — Why Insurers Act as Hidden Risk Partners
27:52 — How to Choose the Right PI Insurance Cover
29:58 — What a Certificate of Currency Really Tells You
31:44 — Why You Must Verify Advice Scope in Writing
33:40 — Multiple Claims: A Major Red Flag
35:45 — Licensing Gaps and Disclosure Obligations
37:57 — AI Advice: Who’s Liable When It Goes Wrong?
39:38 — What Questions Should You Ask an Advisor?
41:14 — Why Property Advice Claims Stay So Low
47:47 — SMSFs and Trusts: Where Advice Gets Risky
50:14 — Vicarious Liability: How Risk Spreads Fast
53:22 — Key Takeaways Every Investor Should Know
About the Guest
Polina Kesov is an insurance advisor with over 20 years of experience working alongside Australian businesses on risk, claims, and insurance coverage. Specialising in professional indemnity, she has a deep understanding of how advisors are assessed, insured, and held accountable when things go wrong.
Throughout her career, Polina has worked closely with professionals across the property, finance, and advisory sectors, giving her a unique, behind-the-scenes perspective on how claims are evaluated and where systems succeed—or fail. Her expertise extends beyond policy setup into real-world outcomes, including how insurers interpret liability, manage disputes, and determine whether a claim is paid.
Known for her practical, no-nonsense approach, Polina is passionate about improving awareness around risk and helping both professionals and consumers understand the fine print that often gets overlooked. Her insights offer a rare look into the mechanics of protection in the property industry—where assumptions don’t always match reality.
Connect with Polina
LinkedIn - Polina Kesov
LinkedIn - Insurance Insights Australia
Website - Insurance Insights Australia
Instagram - Polina Kesov

Resources
Visit our website: https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at:
The Elephant in the Room Property Podcast - [email protected]
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? alcove.com.au
Work with Chris: [email protected]

Enjoyed 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-podcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E

If 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

Capital gains tax reform and negative gearing have become central to Australia’s housing debate—but are these policies actually capable of improving affordability?
In this episode, we unpack the real role of tax settings in the property market and question whether current reform discussions are addressing the right problem.
The conversation explores how capital gains tax discounts work in practice, why they exist, and what changes could mean for investor behaviour. We also dive into the broader housing ecosystem—covering rental vacancy rates, population growth, and the heavy reliance on private investors to supply rental housing. Along the way, the episode challenges the assumption that reducing investor incentives will automatically improve affordability.
A key theme is unintended consequences. What happens if investors exit the market? Where does that capital go? And how might changes to CGT or negative gearing impact rental supply, development activity, and long-term housing outcomes? The discussion also touches on the rise of build-to-rent, government incentives, and the shift toward institutional investment.
This episode offers a grounded, data-informed perspective for investors trying to navigate policy uncertainty. Instead of reacting to headlines, listeners are encouraged to think critically about how incentives shape supply—and why meaningful housing reform requires more than just tax changes.
Episode Highlights
01:20 — Meet Cameron Kusher & His Market Perspective
04:41 — Investors, Rentals & Why Supply Is So Tight
15:52 — Why New Build Incentives Matter More Than Ever
19:41 — Foreign Capital: Help or Housing Distortion?
27:11 — Tax Deductions: What Investors Actually Claim
29:00 — Should Investor Tax Benefits Be Capped?
30:31 — Portfolio Building: Smart Strategy or Risky Hype?
32:42 — Why Incentives Should Focus on New Supply
34:28 — Apartments: The Missing Piece in Supply Fix
36:18 — Developer Costs: What’s Really Holding Builds Back
39:07 — Government Housing: What Are the Real Options?
41:21 — Rate Fears & Falling Confidence in Property
45:45 — Where the Property Market Could Go Next
48:12 — Build Costs and the Supply Feedback Loop
49:26 — Final Thoughts & Key Takeaways for Investors
About the Guest
Cameron Kusher is a highly respected property market analyst with decades of experience interpreting housing data and market trends across Australia. His work focuses on understanding how policy decisions, economic conditions, and demographic shifts influence real-world housing outcomes.
With a background in analysing property cycles and investor behaviour, Cameron brings a practical, evidence-based perspective to complex policy discussions. He is known for cutting through political narratives and focusing on what the data actually shows—particularly when it comes to housing supply, affordability, and the role of investors in the market.
His insights help bridge the gap between policy theory and market reality, making him a trusted voice for investors seeking clarity in an often noisy and opinion-driven space.
Connect with Cameron
Cameron Kusher - Independent | property market strategist | Helping real estate businesses, developers & lenders make better decisions with data
Kusher Consulting
Kusher Consulting’s LinkedIn

Resources
Visit our website: https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at:
The Elephant in the Room Property Podcast - [email protected]
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? alcove.com.au
Work with Chris: [email protected]

Enjoyed 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-podcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E

If 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

Fixing housing supply in Australia has become one of the biggest policy challenges of our time—but turning reform into actual homes on the ground is where things start to break down.
In this episode, we sit down with NSW Planning Minister Paul Scully to unpack what’s really happening behind the state’s aggressive housing push, and whether these reforms can deliver at the scale required.
This conversation goes beyond headlines and policy announcements. It dives into the structural issues holding back housing supply in Australia—from feasibility constraints and construction bottlenecks to community resistance and the limits of zoning reform. While initiatives like transport-oriented development and low-to-mid rise planning changes aim to unlock supply, the reality is far more complex than simply increasing density.
We also explore the gap between approvals and delivery—why thousands of homes can sit in the pipeline without ever being built. From financing barriers and labour shortages to the economics of development, this episode breaks down what actually determines whether a project moves forward or stalls.
If you’re trying to understand where the housing market is heading, this is the conversation that connects policy to real-world outcomes. Because in the end, the question isn’t whether we can plan for more housing—it’s whether we can actually deliver it.
Episode Highlights
01:59 — Why Housing Reform Is Finally Happening Now
04:00 — Why Housing Is the “Everything Problem”
07:41 — Transport-Oriented Development: The Big Bet
12:26 — Design Quality vs Density: Can We Have Both?
24:37 — Community Backlash vs Housing Equity
26:42 — Why Key Workers Can’t Afford to Live Nearby
28:46 — Downsizing Myth: Does It Really Free Up Supply?
32:22 — Three Practical Ways to Increase Housing Supply
33:57 — Inside the Push for Social Housing Investment
37:49 — Why Approved Projects Still Don’t Get Built
39:00 — Cutting Red Tape: What’s Actually Changing
40:32 — Finance Guarantees and the Labour Shortage
44:40 — Using Every Lever to Fix Housing Supply
47:54 — Industry Consultation: What’s Working, What’s Not
50:12 — Housing Delivery Authority: What’s Changed
52:58 — Final Thoughts: Property, Policy, and Reality
About the Guest
Paul Scully is the NSW Minister for Planning and Public Spaces, responsible for overseeing one of the most ambitious housing reform agendas in the state’s history. His portfolio sits at the centre of efforts to address housing supply in Australia, including planning system overhauls, transport-oriented development policies, and initiatives to accelerate housing delivery.
With direct oversight of both policy design and implementation, Paul brings a rare, inside-the-system perspective on the challenges of turning housing strategy into real outcomes. His work focuses not just on increasing approvals, but on addressing the deeper constraints—feasibility, infrastructure, and coordination—that determine whether homes actually get built.
Connect with Paul
Paul Scully - Minister for Planning and Public Spaces at NSW Government and Member for Wollongong | LinkedIn
Paul Scully MP
Paul Scully MP (@PaulScullyWollongong) • Facebook
Paul Scully MP (@paulscullymp)
Paul Scully MP (@paulscullymp) / Posts / X

Resources
Visit our website: https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at:
The Elephant in the Room Property Podcast - [email protected]
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? alcove.com.au
Work with Chris: [email protected]

Enjoyed 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-podcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
Subscribe on Spotify: https://open.spotify.com/show/3r0nnJrLUu3t1GpO7X3j6E

If 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