Posted by admin on Sep 28th, 2008

As mentioned last week, we have again secured another high profile expert to participate in our Property 2009 event on 15th October 2008.

Therefore it is with great pleasure to announce our special guest from the property side of fence, Mr Michael Yardney. Michael is a successful property developer and property investor as well as director of Metropole Property Investment Strategist.To get to know more about Michael, today’s article feature our short interview with him.

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What are you currently doing in your line of work?

I am CEO of Metropole Property Investment Strategists, which has offices in Melbourne Sydney and Brisbane. I am still an active property investor and developer and as a property commentator my thoughts are frequently quoted in the press.

I am an author of 3 books and also publisher of Property Update an e-magazine with 40,000 subscribers www.PropertyUpdate.com.au

So, can you share a bit about your life journey that brings you to what you are currently doing?

I bought my first investment property in my early 20′s without a deposit and not really understanding the rules of the game. Then I built a multi million dollar property portfolio – in my spare time – property by property. In the 1980′s I got involved in property development.

If you were to give a concise advice to budding property investors today, what will it be?

Educate yourself but be careful who’s advice you listen to. Have hey achieved what you want to achieve? Have they invested in more than one property cycle? Do they have a vested interest in the advice they are giving you?

How will the current state of the economy affect property as an investments?

My view of the property market could be summed up simply as follows:

1. I have very strong positive views on the property markets in most capital cities in the medium to long term.

2. I am certainly aware of potential short term problems related to the credit crisis and poor market sentiment which means that…..

3.You should be looking for a property at the right price, in the right location, with the right rental income.

Remember…as a long term investor, and that’s the only way to look at property as an investor, you can buy a property at any time in the property cycle as long as the fundamentals of the deal are sound. This year may be a good time to buy property – I have always found it a good time to buy when everybody tells you that property is a bad investment. Now is the time to get set for the future.

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Stay tune for our next article series to Property 2009: Crash, Boom, or Stagnate?!

2 Comments to “Interview with Michael Yardney for Property 2009 debate”

1. on 15 Oct 2008 at 10:37 am1Pollyanna

   Mr Yardney,
   Do you still stand by your claim that “Adelaide’s median house price will be $13.5 million in less than 40 years.”? This was reported on the 18th of April 2007:
   http://www.news.com.au/business/story/0,23636,21574787-462,00.html

   Further questions relating to that article.

   You said that “Australia was on the cusp of one last momentous real estate boom”. Given developments in credit markets over the last 18 months, do you expect this is still the case? Furthermore, were you unaware of the looming problems when you made such a bullish statement 18 months ago? Numerous other commentators from Roubini to Shiller to Schiff to Noland (to name just a few) could see this coming, so why didn’t you?

   The article states that “while such a rise seemed unimaginable, [you] pointed to countries like the United Kingdom, where house prices were beyond the reach of average people.”. In light of the plunging home prices in the UK, have you now revised your view as to the sustainability of home prices at a level that people cannot afford to pay?

   Thank you,

   Polly.

2. on 29 Oct 2008 at 2:58 pm2Pangia

   how has your career choice change your current life-style before Property developement?