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After an initial period of extreme uncertainty, the rhetoric around the Australian property market appears to have shifted into a new phase in response to the ongoing coronavirus pandemic.

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On this episode of The nestegg Podcast, host Grace Ormsby is joined by the founder and CEO of Upside Realty, Adam Rigby, to delve into how COVID-19 has been affecting different demographics within the property sector, including renters, landlords, investors and retirees.

Adam touches on the pros and cons of potentially removing stamp duty, his predictions for marketplace trends over the coming months, and the importance of picking quality over timing when considering an investment.

Thanks Adam, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Upside Realty are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Beware of COVID-19 sales tactics

By Cameron Micallef · March 20 2020

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Beware of COVID-19 sales tactics

By Cameron Micallef
March 20 2020

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Beware of COVID-19 sales tactics

By Cameron Micallef · March 20 2020

Reading:

Consumers are being warned that some Australian brands are looking to cash in on the COVID-19 crisis through pushing sales tactics that fuel anxiety.

According to consumer advocacy group CHOICE, well-known Australian brands are pushing messages such as “stock up now before it’s gone” on health-related products.

“Australians expect more from major retailers at this time. Using pushy sales tactics to exploit anxiety about COVID-19 to encourage panic buying is not on. These are disgraceful marketing tactics,” says CHOICE consumer advocate Jonathan Brown.

The calls come after Prime Minister Scott Morrison told Australians to stop hoarding items, citing Australian supermarkets have enough for everyone.

“Stop hoarding. I can’t be more blunt about it. Stop it – it’s ridiculous, it’s un-Australian and I would ask people to do the right thing by each other.

“It is not necessary, it is not something people should be doing,” Mr Morrison said.

The CEO of Woolworths group, Brad Banducci, told the media there is no shortage of food in Australia.

“We have enough products in Australia to feed all our customers. There are no fundamental shortages that we’re seeing right now.

“If we all buy what we need and treat our team with respect, we will rapidly get back to full supply or 99 per cent of supply,” Mr Banducci said.

While the PM and business leaders are calling for calm, CHOICE has found multiple examples of terms like “stock up now before it’s gone”, “order now limited stock” and “stock up and stay safe” as businesses look to profit off the pandemic.

“The Prime Minister has called for calm. We think this advice should apply to the business community, too. We need all brands to be responsible and support the community to navigate these challenges rather than cash in on fear,” Mr Brown concluded.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.