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

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!
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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

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

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 Highlights
00:34 — Meet Mortgage Broker Jack Elliott
04:41 — How the First Home Guarantee Scheme Works
06:36 — The Hidden Risks of 95% Home Loans
12:48 — Buyer Rush and Rising Market Competition
17:19 — Eligibility Rules First Buyers Must Understand
19:39 — Planning for Long-Term Home Ownership
24:51 — Price Caps and the Resale Ceiling Problem
27:11 — How Bigger Deposits Change Buyer Strategy
28:22 — When First Home Buyers Should Use a Buyers Agent
32:05 — Why First Home Buyers Struggle to Enter the Market
35:30 — Why Patience Matters in a Hot Property Market
37:24 — Why Property Can Be Easier to Sell Than Buy
42:49 — Who Should Consider Shared Equity Schemes
47:09 — New Loan Products Buyers Should Watch
49:05 — Policy Risks Around New Build Incentives
54:06 — The Danger of Buying Property in a Rush
55:13 — Final Advice for First Home Buyers
About the Guest
Jack 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 Jack
Jack’s LinkedIn
Alcove Mortgage Advisory
First Home Unlocked
First Home Unlocked | Podcast on Spotify
First Home Unlocked - Podcast
First Home Unlocked - YouTube
First Home Unlocked (@firsthomeunlocked) • Instagram photos and videos
First Home Unlocked
First Home Unlocked’s TikTok
First Home Unlocked’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/3Ge1626dgnmK0RyKPcXCathy0?si=26cde394fa854765

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

The success of a property development project is heavily influenced at the site selection stage. Before construction begins, developers assess land based on planning controls, feasibility, and long-term project viability.
In this episode, Veronica and Chris speak with Ryan Bennetts, a site acquisition and origination specialist who works directly with developers to identify and secure development opportunities. Ryan explains how developers assess planning controls, evaluate zoning potential, and calculate residual land values before making offers that can run into the millions. The conversation also explores the complex negotiations involved in assembling development sites, particularly when multiple property owners or strata buildings are involved.
With governments introducing new rezoning policies and transport-oriented development initiatives, the development landscape is rapidly changing. Suddenly, many suburban properties are being targeted by developers, and some homeowners are receiving offers far above traditional market value. But as Ryan explains, not every property benefits equally—and the process of turning land into a viable development site can take years.
If you’ve ever wondered how developers identify development opportunities, how land values change after rezoning, or what happens when your property becomes part of a potential development site, this episode pulls back the curtain on the realities of site acquisition.
Episode Highlights
01:22 — Meet Site Acquisition Expert Ryan Bennetts
03:04 — How Developers Hunt for Rezoning Opportunities
07:27 — Why 75% Approval Still Isn’t Enough
09:19 — How Rezoning Reforms Changed the Game
17:39 — Creative Deal Structures and Playing the Long Game
20:51 — Where Development Deals Usually Fall Apart
23:38 — Holdouts, Negotiations, and Owner Leverage
24:52 — The Myth of Unlimited Developer Capacity
25:44 — How Developers Diversify Their Projects
26:45 — Why Sydney and Melbourne Feasibilities Differ
27:29 — Builder Insolvencies and Development Risk
29:09 — Why Some Developers Build In-House
30:34 — The Migration Shift Helping Melbourne
33:00 — Builder Shortages Meet Development Demand
36:25 — Feasibility Sensitivities Developers Watch Closely
38:41 — Conditional vs Unconditional Site Deals
41:25 — Why Rezoning Doesn’t Guarantee Approval
47:09 — The Rise of Build-to-Rent in Australia
48:49 — Final Thoughts and Listener Questions
About the Guest
Ryan Bennetts is a site acquisition and origination specialist working with property developers to identify and secure development opportunities.
His work focuses on sourcing development sites, analysing planning controls, negotiating with landowners, and structuring deals that allow developers to assemble and acquire land for future projects. This often involves complex negotiations with multiple property owners and navigating planning frameworks that determine what can ultimately be built on a site.
Because Ryan operates at the very front end of the development process, he has unique insight into how developers determine land value, assess rezoning opportunities, and decide which sites are worth pursuing. His experience provides a rare behind-the-scenes look at how development projects begin long before construction ever starts.
Connect with Ryan
Ryan Bennetts - Head of Acquisitions at Central Element | 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

For years, we’ve treated housing affordability as a demand problem — interest rates, borrowing power, incentives. But what if the real issue sits deeper in the system?
In this episode, we unpack the structural forces shaping Australia’s housing market, from planning constraints to policy decisions that have quietly restricted supply for decades.
Joined by planning reform advocate Melissa Neighbor and economist Emilie Dye, we explore the structural issues baked into Australia’s housing system — from restrictive zoning laws and slow approval processes to the political incentives that favour existing homeowners. We also dive into the concept of “gentle density,” why three-storey townhouses could be a missing middle solution, and how cities like Auckland have used upzoning to stabilise housing pressures without crashing the market.
But this isn’t just a supply story. We challenge the idea of housing as an investment vehicle versus a place to live, unpack intergenerational inequality, and examine why forcing people into renting can actually make them worse off. The conversation also tackles the uncomfortable reality: increasing supply may solve affordability — but not without trade-offs, including financial outcomes for buyers and resistance from existing communities.
This episode cuts through the noise with a clear-eyed look at what needs to change — and what most people are still getting wrong about housing in Australia. If you care about affordability, investing, or the future of our cities, this is one you can’t afford to ignore.
Episode Highlights
01:07 — Meet the Guests: Planning & Economics Perspectives
01:56 — What Does a Fair Housing System Look Like?
04:23 — Planning Restrictions and the Supply Bottleneck
06:40 — Why Reforms Are Facing Community Resistance
11:43 — Upzoning, Windfalls, and Affordability Trade-Offs
13:43 — Why Only Luxury Projects Are Getting Built
17:14 — Winning Public Support for Housing Reform
20:50 — Balancing Emotional Costs and Infrastructure Strain
23:41 — Why Sydney Must Embrace More Density
24:38 — Global Cities and Lessons for Housing Reform
26:55 — What’s Actually Being Built Across NSW
27:42 — The Reality of Upzoning in Established Suburbs
28:05 — Backlash, Compromise, and Policy Missteps
29:30 — How the Housing Crisis Forced Policy Change
30:23 — Should Housing Be an Investment or a Home?
47:19 — Final Thoughts and Listener Q’s
About the Guests
Melissa Neighbor is a town planner, community engagement expert, and co-founder of Sydney YIMBY, a movement advocating for increased housing supply and planning reform across New South Wales. With deep experience in urban planning and policy, Melissa is a leading voice in the push for more efficient housing delivery, better zoning outcomes, and meaningful community engagement in development decisions.
Emilie Dye is an economist and commentator focused on intergenerational housing inequality and housing accessibility in Australia. Her work, including the widely discussed piece “Housing is Becoming a Pipe Dream for Young Australians,” has been featured across major national publications. Emilie brings a data-driven perspective to the housing debate, challenging conventional thinking around homeownership, affordability, and the role of housing in wealth creation.
Connect with Melissa
Melissa’s LinkedIn
Melissa’s Instagram
Melissa’s X
The New IQ (website)
Sky Planning (website)

Connect with Emilie
Emilie’s LinkedIn
Emilie’s 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