August 1, 2026 • 40 mins
Townhouses are popping up everywhere across New Zealand.
Are they flooding the market? Or are they providing low cost solutions for youngsters entering the market?
Harcourts Managing Director Bryan Thomson joined Tim Beveridge for The One Roof Radio Show to discuss.
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News talks
'b Yes.
Speaker 2 (00:11):
And welcome back, Welcome in, Welcome back to the Weekend Collective.
I'm Tim Beveridge and this is one Rufriday Asher. This
is the part of the show where we actually we
want you to call WA one hundred and eighty ten
eighty in text your feedback as well on nine two
nine two. By the way, just looking aheato half the
five for the for the Parents Squad Sarah Chat one's
with us and we're going to talk about that. If
you're a parent who've been getting those questions about what
(00:33):
do I do? You know, Mum, I've got to make
mum daud. I've got to make my mind up on
my subjects, and my teachers say, you know, I need
to take subjects that are going to help me with
the career I want to do, and I don't know
what I want to do. We're going to have a
chat about that. We might not actually deliver the answers,
but we might, you know, give some food for thought
for you on that, because how do you steer your
child towards an education and career which they're going to
(00:56):
find fulfilling. Oh god, it stresses me out just asking
the question. Anyway, this is the one Ruth Radio show, though,
and what we're going to talk about to kick it
off with is we're going to dig into this question
around townhouses. Does New Zealand I mean, there's a headline
here from a news story does New Zealand have too
(01:16):
many new townhouses? And are they crashing the market? And
I was thinking, well, if they are, then so what
in a way that if there's a problem with townhouses,
then who's is it? Because there's been plenty of discussion
about where the New Zealand's built too many townhouses and
so then we get into the discussion around oversupply of
(01:37):
housing being a problem. But if we're talking about it
being a problem, whose problem is it? Whose interests are
we talking about? I mean, maybe it's uncomfortable for developers, investors,
existing owners because you think, oh, I want my property
to go up, But surely also plentiful, cheaper housing is
fantastic news for first home buyers. I mean, I've got
kids who are going to be children. Should I say
(01:58):
who'll be leaving school? I don't know when they're going
to leave home. Doesn't worry me either. I mean funny
enough and be quite happy for them stick around for
a bit, but I wonder whether they'll ever be able
to afford to buy a home. So maybe this supposed
glut means that the affordability for them when they find
he ready to buy a house is actually going to
mean it's in reach. So is there ever such a
(02:21):
thing as a problem for the whole real estate market?
So yeah, we're going to get into that. Eight hundred
eighty eight is our townhouses? Is the glut of them
a problem? And to discuss that is He is the
managing director at Harcourts and his name's Brian Thompson. It
sounds like he's never been on the show before. I
just say, Brian Thompson, harwot's with us again? Hello? Brian?
(02:43):
How are you known?
Speaker 3 (02:44):
Tim? I'm very good. On this beautiful winter's day here
in Auckland.
Speaker 2 (02:47):
It actually it's not it's actually quite It is quite
an interesting looking day, isn't it? Because it's not blue sky,
but they've got beautiful cloud formations. Is there's a little
bit of moisture around, a bit of sunshine, bit of everything, isn't.
Speaker 3 (02:58):
It's a great day? And I know people fear the
South at probably having a bit of a beating with
the weather at the moment, but no, it's a beautiful
day here in Oakland.
Speaker 2 (03:04):
Well again, sometimes is getting a beating with the weather.
If it's snowing somewhere, the skifields are going.
Speaker 3 (03:07):
Woo, you'd be right.
Speaker 2 (03:09):
Okay. Firstly, your interest as a real estate person, I mean,
you're only interested as interest as an activity, isn't it
really what I mean this talk about townhouses. What's your
take on it? Because it's like the word townhouse has
(03:29):
become Oh, he's living in a townhouse. Oh, that sounds dodgy.
Speaker 3 (03:34):
It's funny because you hear the word townhouse and a
whole lot of people in the world would have an
instant picture in their mind of a whole lot of
properties built close together it all look the same. And
that's just simply not true. There's townhouses around it are
two bedroom, one bathroom, where there's quite a number of
them in one development looks similar. But you can drive
to the most blue chip of blue chip locations anywhere
(03:56):
in the world and there'll be beautiful townhouses that will
have multiple bedrooms and multiple bathrooms on smaller blocks of land.
So when you hear a sweeping generalization that townhouses are
more difficult to sell, that's not actually true. It's like
people say the real estate market is X or why
there is no one real estate market. It varies between locations, demographics,
(04:17):
and property types.
Speaker 2 (04:18):
Yeah, because there was a time when property was going
gang buses. We had a lot of people talking about
investing and just get in there and leverage up and
away you go. But that wasn't working for a lot
of people. And the more I think of it, what
is housing about? What is the housing market about? We
have a housing market because people need somewhere to live
full stop. And if people if there are some houses
(04:41):
that are cheap, I mean, that's on the developer as well,
isn't it. If if they're having a problem selling their townhouses,
then I guess it's their problem. But is it a
problem for the market. I don't know. I can think
the only problem you would identify that you'd be concerned
about would be if no one was buying and selling,
and that would be.
Speaker 3 (05:00):
That simply doesn't happen. We have periods of very high
turnover and number of properties selling in periods where it's
a little bit lower like it is at the moment.
But I think when you look at the developer market
or the townhouse market, which is driven by developers in
the main, you can't magic house up overnight. It's not
that long ago that the words in the media and
the commentators where there wasn't enough property, so prices are escalating.
(05:24):
We need to produce more property. So the developers go
to work and they secure land and they have designed
their new developments and they produce them. But you can't
wave a wand in the here now. It takes years
to get consents and build the properties, and all of
a sudden, what we've seen is we've seen a lift
in inflation, a bit of a rise in interest rates,
and people throwing weapons around the world. It's broken people's confidence.
(05:47):
So the products come forward while the market's lacking a
bit of confidence. So we have a lot of stock
of various different types of townhouses on the market through
various different places, and in a lot of cases they've
cost more to produce than what they're selling for at
the moment. So they are not moving because the people
who've built them have a property that they've invested in
and they're not looking to lose money. So as the
(06:09):
market slows down a bit, people look, but they're still transacting.
It's just a gap between what the buyers are prepared
to pay for them and what they're for sale for.
It's simple supply and demand.
Speaker 2 (06:20):
So at the moment there are some developers. Actually, look,
if you're a developer and you've made a bunch of townhouse,
actually I've got sympathy. You need to put a lot
of money where your mouth is and you've you've created
a development. But if it's cost you more than you
can get for them selling them, that is a problem.
And you don't want to see people going bung. But
in the end, what happens. Do they just have to
(06:40):
they have to sell them? Do they or sell them
at a loss? Or what I think?
Speaker 3 (06:44):
You know, when times are great and the market's spinning over,
everybody thinks being a developer is great fun. Being a
professional property developer is a very very complicated business. You
need to have so many different skills and knowledge and
the right people around you to get it right so
that you can weather when things don't move as quickly
as they should. And there are some fantastic business people
(07:06):
who work in the property development field, but it's not
a place for amateurs because if the market changes underneath
you and you still own your product, you have to
carry the holding costs until the market moves again, or
sell the property now, and the reality is the capital
that's tied up. Often people are better to look at
the property they own now and say, let's move that
one on and we'll do better with the next one,
(07:28):
because just simply sitting on a product hoping that the
market's going to catch you up as often a flawed theory.
Speaker 2 (07:36):
And it would be I guess if somebody has taking
a punt at being a developer and it's their one
time big investment and they've over spent, then they're the
ones who've got a problem if they're not in it,
if they're not in that sort of flywheel motion where
they just say, look, let's just let's realize what we
can and then move on to the next project.
Speaker 3 (07:52):
Yeah. Well, it's like any business decision or any investment decision.
Tim it's at the end of the day, we're all
adults and we all make our own decisions, and we
should celebrate when we get it right and do really well.
And if we get something a little bit wrong that
we've got to find a solution and move on and
do a better decision next time.
Speaker 2 (08:08):
Do you worry about these headlines two minutes that the
word townhouse is getting a bit of a slagging it's
become Do you worry about Yeah? I mean, for instance,
if you were selling a townhouse, would you call it
a townhouse or would you say attractive new terraced house development.
Speaker 3 (08:30):
I think at the end of the day, people see photos,
they know what you're selling.
Speaker 2 (08:33):
The reality of the townhouse when you.
Speaker 3 (08:35):
Look at it. So it's what I said before. Townhouse
is a generalized term. You can see townhouses that are
two bedroom, one bathroom on very small blocks of land
outside living, that are beautifully designed and very well structured inside. Conversely,
you can see other townhouses that perhaps haven't been designed
quite so well, who are designed for families, but they
don't have enough outside living. So a townhouse can be
(08:58):
absolutely beautiful and very saleable, or it can be one
that's got a design flaw in it, and when the
market's a little bit slower like this, those type of
those types of attributes become more and more and more important.
Is always a flight to quality when things.
Speaker 2 (09:13):
Are hard interesting. I was actually dropping my daughter at
a friend's place in Stonefields, which has got a variety
of I mean, it's a fascinating development, stone Fields. It's
been going for a hell a lot longer than if
I was to look back at how old Stonefield's probably
twenty years old now, I guess, but I did, and
we might get onto this with some callers as well.
(09:34):
But I suddenly thought, hell, there's not much room for
a car here. And the whole question of car parking
is an interesting one, and that's a bit of a
gamble for developers to get right as to who's going
to live here and will they actually ultimately need a
car park.
Speaker 3 (09:49):
So I wouldn't call it a gamble at all. I
would call it a decision to be made after assessment,
because in some locations a car is not quite so important.
Perhaps you're close to the rail head, perhaps you're close
to public transport. Perhaps the property is designed for people
who are unlikely to have a car. Conversely, in other areas,
if you didn't have a garage or associated car parking,
(10:09):
it could be a problem. So you can't generalize that
the lack of a car park is a problem. It
may very well be for a range of properties, but
some other ones it may not be so important that
Probably the biggest trouble you have is if you don't
have a garage's weedy a store your stuff, because I
bet you'll have a whole lot of stuff at home.
Speaker 2 (10:27):
I'll tell you what the need for storer Jay. I
don't know if i'd be I wonder if I would
initially put that on a shopping list if I was
looking at a townhouse. Anyway, Let's take some calls eight
hundred and eighty ten to eighty townhouses. They say there's
too many being built. Is it a problem? What's a
problem look like in the property market? And if you
were selling something that was a townhouse, would you try
(10:48):
and avoid calling it a townhouse? Because it's just a
playful notion of mind that the word townhouse has really
been dragged through the mud at the moment. Right, let's
go to the phones, shall we Roger? Hello, Hi Jim.
Speaker 4 (10:59):
Yeah, I live very happily live in a townhouse in
central christ Church. I love it, about twenty years old,
very well built, double glazed north facing, never get frosts
in the courtyard, and I have a secure internal access
garage and this parking for visitors. The townhouses two hundred
(11:21):
and fifty two being built in the Central Sea so
christ and two hundred and fifty two by the time
this latest development is built. That we two undred and
fifty two of one one developer or two different complexes
for one developer without any parking at all, not even
(11:42):
on site. Now, to me, that is utterly ridiculous. We're
not going to give up our cars generally, and so
it's it's I think the councils are trying to whether
it's the council very just as stupid the fact if
they're encouraging this, this ridiculous strategy and they're not selling
(12:04):
the one garages are selling.
Speaker 2 (12:07):
But is it just a question of the price needing
to be right that someone will eventually go, Actually, you
know what I'd get around on the bus?
Speaker 4 (12:14):
Would you spend seven hundred and fifty thousand dollars on
an apartment without a car park? You take a nice car,
You're going to park it down the road somewhere.
Speaker 3 (12:21):
No, I'd want something from Aston So Roger two things
there and it's great to hear from someone from Christ. Yes,
the city that's really at the top of the pops
at the moment, not just in New Zealand but around
the world. It's just in such great shape. You made
a couple of very good points. You're enjoying living in
your townhouse because it's warm and safe and secure and
(12:41):
in a great location. And you've got some parking. That's
a bonus you're comment about. Yeah, you're coming about the
ones that are being built with no parking. That comes
down to a planning issue, because if a development is
produced with no parking or no garaging, that's an assessment
that's been made by the powers that be and the
developer that's the market's going to react well to that.
(13:03):
If the market doesn't react well to that, then the
developers got a challenge, hasn't he or she?
Speaker 5 (13:08):
Oh?
Speaker 4 (13:08):
For sure. I mean I rang the advertisement for this
new development. There's one hundred and forty one apartments. They
haven't started building yet, but it's on big site right
in the middle of town. And I said to them, now,
have you got a new parking And the guy said, no, no,
we don't what no parking at all? Said no, I said, well,
I've got a nice caw we are not going to
(13:28):
partner a car or there's Wilson car park just down
the road. And I thought, now, wait a minute, as
if that's going to happen, who's going to buy a
seven hundred and fifty thusum to a million dollar apartment
and parking Wilson car pack down the road with there?
Speaker 3 (13:41):
But the only thing I'll say to you is Roger
and I fully understand how you feel about that. But
there will be people who will buy those properties as
long as the price relates to their view of value
of the property without a car pack.
Speaker 2 (13:53):
Hey, look, you know it'll be public knowledge. What's the
development you're talking about?
Speaker 4 (13:59):
Williams Corporation. They've built one hundred and eleven and they
aimed at Airbnb. But even Airbnb people will have a
rental car, not all but a lot will and they've
got nowhere apparently a rental car. So that the same
developer immediately north one hundred and forty one apartments. It
look looks very nice, but no parking at all.
Speaker 2 (14:19):
So where what's the location for the for this this?
Speaker 4 (14:22):
It's right in middle you know, Worcester Street Casual more,
it's right right well, it's sort of Manchester Worcester, Gloucester.
Speaker 3 (14:31):
Okay, oh, so that's a biggie walking distance of that
wonderful new stadium.
Speaker 2 (14:35):
Roger, Actually, oh that's interesting, they see if it's got
the location right. It's a question about what if you
can get to the supermarket and a quick stroll and
you can't know. It's interesting, isn't it. But in the end.
Speaker 4 (14:49):
Market and you're going to visit your friends five k's away,
you're not going to get an uber or something like that.
You're going to take your car generally.
Speaker 2 (14:59):
Wow, what that? You know? This? This is why this
is such a fantastic conversation. I think, because I reckon,
there will be people who even just listening to this,
they'll be like, I don't know, I don't need a car, pa,
I might go check out what this development is.
Speaker 3 (15:12):
So, Roger, the most important thing you said during that
conversation you said you wouldn't pay seven fifty two a
million for a townhouse with no parking, correct, But there
would be a price where you would well have so
just supplied. It's a supply demand equation, isn't it that?
And we're all different. Every person who looks to buy
(15:34):
a piece of real estate, no matter what it is
or wherever it is in the world. We all have
our own our own ability. That is what we can pay,
but more importantly, what we will pay and values in
the eye that beholder, isn't it.
Speaker 4 (15:48):
That's right? But in New Zealand we will not give
about cars because we're not bigging population a huge transport system.
Speaker 2 (15:55):
Yeah, do you worry about it, Roger? That what happens
is people will buy them, then they'll want a car,
and then the streets will get clogged up with everyone
trying to find somewhere to pop there all the time,
and then it just ruins the central city.
Speaker 4 (16:08):
That's exactly my point. The streets so already choked it up,
now they're going to be more so. And it's.
Speaker 2 (16:16):
No, that's I think you're pointing towards a potential problem.
I mean that is that is sort of is from
a planning point of view, a problem, isn't it, Brian?
Thanks Roger. That is a potential problem planning wise, isn't it.
Speaker 3 (16:28):
I certainly having parking for people's vehicles, either on their
own property or someone else is. But I suppose when
you look at the growth of a society in an
easily walkable city. If you're going to live in the middle,
there's a cost of having a vehicle. I mean, we're
sitting here in Auckland at the moment and they're starting
to talk about putting on congestion charging in the CBD,
so you won't be able to bring your car to
(16:48):
town unless you're prepared to pay a lot of money.
So you ask yourself that question. We've got a new
the city, the new rail links opening very very soon,
so it'll be interesting to see how quickly the society
around the major cities in New Zealand change in regard
to actually having a vehicles.
Speaker 2 (17:05):
Interesting. I'm just looking at the Williams some of their development,
so I've got to say not there's not too many
and they are ripping excitingly too much in terms of design.
But then again I'm not in the market for one.
So hey, look, we want your calls. Though townhouses we
don't have it. We don't necessarily have to have a
crack at a particular development. But what is the biggest
problem for townhouses? Do you think is it what our
(17:26):
call has just said about the absence of parking or
does it still do those properties still find their medium ground.
They're sort of what's it called, you know where the
bar and selo.
Speaker 3 (17:37):
Makes I think, and we should not just focus on
what are the supposed problems with townhouses, think about the upsides. Warm, dry, modern, safe, secure,
well located in most cases, and they give you an
option compared to an apartment because for some people moving
into a body corporate lead major apartment development is a
(17:59):
step too far, but they can move from their big
home or get their first home. In a townhouse. You
are more semi in your own property, not being driven
by your neighbors straight through the wall in all cases.
Speaker 2 (18:10):
Yeah, this is this is why I imagine you've been
quite a successful realistate agent in your time, because you
made that sound very appealing. Brand well.
Speaker 3 (18:19):
I was talking to our producer Lock outside here is
clearly a very smart young man, and he said, and
I quote, he thinks he could handle being in a
town house, but an apartment he's not so sure. And
I forgot to tell him that I've lived in an
apartment with my wife for the last sixteen years and
we absolutely love it.
Speaker 2 (18:36):
Do you have parking, yes, yeah, because that's good to know.
Speaker 3 (18:42):
I'm of an older generation. I mean it won't be
that long before I won't be able to walk. I
have to have a.
Speaker 2 (18:46):
Car, yes, or a taxi or driving this daisy.
Speaker 6 (18:51):
But we.
Speaker 3 (18:53):
All the new autonomous autonomous cars that are coming in.
Speaker 2 (18:57):
Yeah, it's gosh. We're taking your calls. We'll be back
in just a moment. We're with Brian Thompson, Managing director
director at Harkwurtz. By the way, I mean hard courts.
Which one of them your market's christ Church. I mean,
you guys are hardworts and kings of christ Church, aren't they?
So you'd be loving this chat about Chitch.
Speaker 3 (19:13):
We've got a wonderful bunch of people down in christ
Church and there's no question they're living in the highlights
city of New Zealand at the moment. I mean, New
Zealand's such a wonderful country. But I suppose you to
what christ Hitch went through those It's having a.
Speaker 2 (19:28):
Bit of a renaissance, isn't it now finally after having
waited a long time?
Speaker 3 (19:33):
Yeah? Yeah, and it's rock and I think open the
stay Cloud has a silver lighting. They talk about post
traumatic growth. The city there is just on fire at
the moment. It's such a great place to be good stuff.
Speaker 2 (19:44):
We're back in just a moment of twenty six and
a half past four News Talk s d B. Yes.
News Talk said, B, do we have too many new townhouses?
Is it a problem? Or is it there's no such thing.
Is there such a thing as a problem for the
real estate market or is it just a problem for
some and good news for others. My guest is Brian Thompson.
He's the managing director at Harcourts. It's takes some more calls,
(20:05):
Kieran good, I tell you good. Thanks.
Speaker 1 (20:11):
Yeah.
Speaker 5 (20:11):
So I just sort of when I actually owned the townhouse,
I bought it first last year. I first of all,
I absolutely love it, you know, it's my heart. Everything
like that, you know, the first home I have no
talking to a few people that also owned townhouses and
(20:33):
developments and things like that, that the level of quality
maybe just isn't there in some areas. Like little things
that I noticed when I bought the house were another
the tops of the doors were painted, and the bottoms
some of the plumbing. I had to get facts almost
(20:55):
immediately because electrical tape was used around piping and that
might just be a once off. But other people I've
spoken to not in my development, but others have also
seen that I have noticed, and I wonder if it's
the monotony or the of the builder or the developer
trying to keep costs down.
Speaker 2 (21:11):
But yeah, that's interesting one. I think Brandy.
Speaker 3 (21:16):
Storing in care and I wrapped you enjoy your townhouse
because I think the world's full of negativity, isn't at
the moment and you can open that. And I'm not
picking on any particular part of the news media, but
they seem to like to tell you things that are
negative because that's cells story. So I'm wrapped your owner.
I think your comment around around quality within within townhouse construction,
it's not specific to that that sort of property. Whenever
(21:40):
you're buying a property, be it brand new or being
or being a property that's been owned before, you've got
to do your homework. You've got to get it checked.
And if it's a brand new development property, you've got
to make sure that you know what the what the
requirements of the developer for ongoing maintenance for the first
period you own own it are, and there are They
are like any anything you buy in the world, but
(22:01):
particularly more expensive items such such as a home. You've
got to compare what you get for the money to
what's in it, because some properties are absolutely beautiful, they're
very very high class finishing and finishes, and others may
be slightly lessed a lesser price points. So you've got
to make sure you know what you're buying.
Speaker 2 (22:17):
Did you bath the plans, Kim.
Speaker 5 (22:21):
No, So the developer actulutly listen bankrupt? Well, I wonder
whether the developer just went bankrupt with this part of
the business and carries on somewhere else. So I bought
it off a receivership. I decided to go with parks,
and I basically went through it with a building spector
and all that type of stuff and said, you guys
(22:43):
need to get this done for me. I got them
to basically completely take in the house because they have
been used as the show. I did all the right things.
You know, land on my mum a lot, a lot
of my friends are actually in real estate, so it
was there was yeah, pretty much the day that we
transferred over. It was bought you know, as is whereas
(23:03):
as it is with receivership. So those other issues that
then put ugly like a toilet leaking later on and
then bringing a plumber and an he goes, I almost
want to go to the plumbing council about whoever trying
to find out who did this because they've used electrical
tape around pipes and stuff. I mean that you're not
really to find through an inspection.
Speaker 2 (23:25):
No, what was what was it? Was it getting a
bargain or what?
Speaker 5 (23:31):
So definitely I probably wouldn't say it was a bargain,
being a single, single guy myself, but it was the
fact that I was going a little bit far and
I decided in November twenty three I wanted to buy
home lot all different places. I was going to like
six open homes a day. And I walked into place
(23:53):
and I think it was about middle of December, and
something about it was just perfect. It's three stories, I've
got three bedrooms, I've got the car park outside it,
the car park further around in the development for friends
or someone that's renting off me. And I just instantly
fell in love with it. And I was like, no,
big decision, I need to keep looking. So I kept
(24:16):
looking until and then yeah, I just made the February
I was I haven't felt that way about anything else
I've seen it, and it actually it's about even I
do have a car. It's very close to a train
station for me to get into the city in Auckland.
Speaker 2 (24:33):
Have you got a car?
Speaker 3 (24:38):
So it's really interesting because when you look at that,
you've found a property you really love. You love living
And there's been an old saying that your home is
your castle, and that comes back, in my view, from
the old days when people actually lived in castles, because
you could go home to your castle, pull the drawbridge
up so you are safe and sound and know it
could come through and attack you. And I think people
underestimate how important it is in an individual or a
(25:02):
family's life to actually have a home. And people choose
or need to rent for a while, and that's that's
fully understandable. But having a warm, safe, secure home that
you actually like it changes your life. So well done.
Speaker 2 (25:14):
Good on you, Karen. Thanks for coll mate. We'll just
leave that there. We're we're up to it's twenty five
minutes to five. Let's go to another call Tom.
Speaker 7 (25:22):
Hello Gray can hey Brian, you sound like a fantastic
grillus that ag and my house anytime.
Speaker 3 (25:29):
Thanks Tom. I'd be happy to try and help. We've
got a bunch of great people around the country.
Speaker 7 (25:36):
I'm just swinging about the organ intensification. Everybody I talk
to seems to not be happy about that. And you know,
are we going to go back to the original status
or did you know much about that?
Speaker 3 (25:50):
I think intensification is always a challenging topic and it's
the old it's the old Nimbi's thing that you sometimes hear.
Not in my backyard, but I think as the transport
corridors develop in the public transport and the ability to
have more intensive living opportunities closer to those transport routes
(26:11):
will certainly add to the city this trouble you have.
If you don't intensify in areas, the city's going to
keep spreading and spreading and spreading. And it not only
takes up productive land on the outskirts of the city
tom it also puts massive challenge on infrastructure such as
public transport. And I think when you look at the
population of Auckland as a specific city, for the population
(26:34):
we've got now it's big on New Zealand standards for
the number of people, but on an international basis it's not.
But the land area it covers is huge for the
amount of people we've got which makes public transport hard.
So I think there are challenges both side of it,
but some form of intensification in the correct areas candle
of a really great outcomes for any city.
Speaker 7 (26:55):
So anything, house prices are going to stay static for
many years.
Speaker 2 (26:59):
Ah, you're trying to get a record from Bryan, good luck.
I think they're going to be a suppress for a
little while. What do you think asually just chang, We
don't know. We're trying to avoid doing market talk, but
let's get Brian's hot take.
Speaker 3 (27:11):
Good on your Tom So opinions on house prices are
like noses, Tom, everyone's got one, but they're all different shapes.
So I think if you look at the real estate
market historically, it moves in cycles. Sometimes there's not enough
property available and there's more buyers than there are properties,
so the prices go up. Sometimes we get a situation
that we've had for the last three or four years
(27:32):
where we've had a unrealistically boosted market post COVID, when
the money was almost free to borrow, and we're going
through a bit of a realignment to get it back
towards historic trends, and the market was getting a little
bit better November, December, January February, and then we know
what happened in the Middle East with the war that's
going on over there, and it's noted people's confidence a bit.
(27:54):
So I have no doubt in my mind whatsoever that
the real estate market, on both an activity activity number
of sales wise and also priced owth wise will turn
around and it will go back on a positive, positive
trend again, because it always does. Now the big question
(28:14):
is when when is that going to happen. Well, if
the war in the Middle East was sorted, and and
I have to say, I hope that happens sooner rather
than later because we don't need that stuff going on
around the world. And once we get through the election
in November, I certainly think it's we're going to see
a more positive footing. But I think it would be
a very very brave or foolish person who said that
(28:34):
we're going to have another massive lift in a short
period of time like we saw when the money was
basically free post most COVID. But I certainly see see
positive things I had for the market. Thanks Tom, Thanks Tom,
give me a call when you're rid of yourself.
Speaker 2 (28:51):
On the thing about quality. So this thing townhouses development,
some of course apartments as well. But what are what
are the ways that a buyer of a townhouse a
new development can feel more assured that the quality of
the workmanship that's behind the walls and everything is going
(29:13):
to be what they need as opposed to what was
described by called a couple of calls ago and yeah, Karen,
I think it was. Yeah, how would you go about
buying a townhouse and working out which developer you can
trust or not?
Speaker 3 (29:29):
Well, I think the first thing you can do is
you can have a look at who the developer actually
is and what is their track record. That's the first
thing I'd be doing. Have they been in business for
some time? What are the product have they produced? And
how is it looking now a few years down the track.
You need to make sure your documentation has been checked
really well by your solicitor, so you know what your
(29:50):
comebacks are if things tip oy over in the first
period of time you own it. You can speak to
your real estate agent who knows the track record of
the people who are building it, and you can also
get them checked by the right building inspector. Because while
you can't see through the walls, there will be about
how well the property is built.
Speaker 2 (30:07):
Okay, look, we're going to take a quick moment and
we've got room for some more calls if you like.
What do you think about the whole townhouse thing? Apparently
there's there are lots of discussions around New Zealand's got
too many townhouses being built and are they crashing the market? Well?
Is that a problem? Well, it's a problem if you
want the market to go up, But for someone else
it might be like, hooray, I might be able to
afford house. And what are the things that would turn
(30:28):
you off going to a townhouse development? Would it be
the absence of parking? And does it? I mean, we
look at the christ Church context. I've been looking at
a bunch of townhouses and there do seem to be
quite a few which are without car parks, which I've
got a bit does an interesting one from the town
planning point of view as to whether that's a good
(30:48):
idea or not. But you can give us your thoughts.
Speaker 5 (30:50):
I know.
Speaker 2 (30:50):
One hundred and eighty ten eighties, nineteen and a half
minutes to five News Talks EDB, News Talks d B.
Let's keep the calls going. We're talking about townhouses, the
virtues of them, a whole bunch of things with Brian Thompson,
he's a managing director of Hardcourts and Veronica.
Speaker 8 (31:04):
Hello, oh hello, I just wanted to know. And Aaron
Rode in browns By and all in all in browns
By roadside By. There's so many townhouses building and no
parking when I go and see my daughter, very hard
to get parking anywhere. And when you're older you get
frustrated and the press.
Speaker 2 (31:26):
Ah, but we because everyone's everyone wants a car, but
they don't want to pay for the car. They haven't
got a car park, so they're just using all the
street parking. That is a bit of a problem, isn't it.
Speaker 8 (31:36):
It is a problem when they've got a house and
you can't even with it. What happened if somebody at
a friend eral, you know, when Markman parked away and
there's no parking. You've got people coming, no packing.
Speaker 2 (31:49):
Well, this is a planning long way, Yeah, bron this
is a planning problem.
Speaker 3 (31:54):
There is a town planning issue. There's no question. It
is very very frustrating when you get I even have
it not when you go to certain parts of town
and you can't get a park, so you end up
leaving your car at home and getting it getting a
new we're or walking if you can.
Speaker 5 (32:06):
So.
Speaker 3 (32:06):
Yes, it's very frustrating and that is a challenge for
the for the planners, no question.
Speaker 8 (32:12):
Yeah what happens because this New Zealand is not like
Singapore and Malasia and all other agent country that you
can get a cheaper trunk put like a Huber or
rickro and all that. It's very cheap in New Zealand.
If you're going to want to go to only for
two kilometer tripilimeter costs you so much money in a taxi.
Speaker 2 (32:34):
Yeah, it is. Actually there there's a bit of a
crossover going on now where New Zealander is where a
properly market is getting used to people or isn't quite
used to people not having a car so that they're going,
oh look we'll buy it anyway, We'll just find somewhere
to park. And that is a problem for the planners,
isn't it?
Speaker 4 (32:49):
Yes?
Speaker 5 (32:50):
It is?
Speaker 2 (32:51):
And what's how does it get solved? I mean, I
guess you just have to have a time limit on
all these streets. So if somebody's got a car and
they think they're going to park it there.
Speaker 3 (32:59):
Well, I suppose that we do have streets around even
Orkland already we're a resident car parking. But you go
to other parts of the of New Zealand, of course,
you go to Wellington, there are quite a few streets
where you can't drive your car up to your house.
You bag it on the street. So now, yeah, it
is a challenge.
Speaker 2 (33:15):
Yep, Okay, let's carry on with the calls Andrew.
Speaker 7 (33:17):
High here you going.
Speaker 2 (33:19):
Good?
Speaker 6 (33:19):
That interesting conversation. Fortunately, unfortunately, I spent forty years of
my life in urban design and art CEA, and I
remember distinctly the urban designers coming from Canada to teach
our local authorities about the efficiencies of townhouses and transport infrastructure.
And it's the density that you want to increase around
(33:43):
transport road like railways and as they call it, the
pearls along the necklace, So where the transport routes are,
you intensify where retail and along those transporting so you
end up with high density living like we have experience
now in Auckland, where the social engineering is to try
and engineer the use of the car out of New
(34:04):
Zealander into the European model. So like the lady just
spoke about it. In Singapore, it's fine because there aren't cars,
there's really really good public transport, and our public transport
system won't really function as an international model might like
it did in Singapore and London other places, because we
live in a volcanic history ridden places. So autans a very.
Speaker 5 (34:30):
Complex city may a transport of structure work.
Speaker 9 (34:36):
I want to do.
Speaker 3 (34:38):
I think that there's no question. The challenges is that
just producing high density style property doesn't solve the issue.
The whole system has to be integrated. So if you
don't have a place for a car or a park,
you have access to rapid, rapid and affordable public transport,
or you live somewhere where you can or where you
can actually walk or get to where you need to
go without a vehicle. So just building one part of
(35:01):
it doesn't work. So what you say is hundred percent right.
It's got to be integrated.
Speaker 4 (35:04):
Together, absolutely right.
Speaker 6 (35:05):
So the flaw in the system was we can rezone
the land so that developers can build identity. But I
just remember this twenty thirty years listening to the local authority,
you say.
Speaker 4 (35:16):
How do we build the infrastructure?
Speaker 6 (35:18):
Who pay that? And we're twenty thirty years behind the
infrastructure builds and look at poor orkand council. Now I'll
still try to deal with that. And it's not London
had the same problem. They have those rings around the
city where you can't take cars correct and everybody, I
specially and you live like an Auckland or a New Zealander,
you've got one too new cars and you look at
(35:39):
I've looked at many of these developments as that get
built and the roads are littered with cars because we're
not used to not etting cars and we don't have
an out, we don't have an alternative.
Speaker 2 (35:49):
Yeah, there's still a bit of that is one of
the challenges for the planets, isn't it, Bryan. Yeah, thanks Andrew, Well,
yes it is.
Speaker 3 (35:55):
But here's a funny fact for you. There wasn't a
major problem with transpor with cars on the Auckland roads
until we started bringing in secondhand vehicles from Japan, which
plummeted the price of your cheaper second car. So all
of a sudden, every family had two or three cars
instead of one. And you can see the graphs that
the Auckland transport experts can show you that that's where
(36:17):
the problem started. So it's a very very complicated, complicated
equation to fix, right, We.
Speaker 2 (36:24):
Need to take a quick break, will be back in
just the tickets eleven minutes to five News Talks he'd
be yes, News Talks. Well, time for one quick coll
before we do the Property of the Week. We're with
Brian Thompson and Richard Hello.
Speaker 9 (36:36):
Hello. I just want to put one thing straight about
discussion about car parking. It's not a challenge for planners
because they're not even given the options. The government took
away the ability for councils to require minimum parking about
eighteen months ago, and so they left it to the
market to decide what the.
Speaker 2 (36:58):
Town planners don't have an option as to how they.
Speaker 10 (37:02):
All councils. Councils cannot impose minimum parking requirements.
Speaker 2 (37:07):
Oh really, okay, well that is a problem then.
Speaker 3 (37:10):
Yes, it is to be clear to what you say,
I'm sure is correct. I was including the people right
at the top of the tree and the planning challenge
right from central government right the way down. So there's
no question the market will decide.
Speaker 2 (37:25):
It will decide, actually, I mean will the market ultimately
work it out, because you'll get all these places where
you can't park or is.
Speaker 10 (37:32):
It level work itself out. I live in the street.
It's got about four short Street used to have a
couple of cars parked in the street. The five new
developments they actually do provide parking in it, and you
can't drive down the street. I think it's going to
(37:52):
be twenty years before we say to people you don't
need a car.
Speaker 2 (37:56):
Yeah, well yeah, actually it does seem like it's going
to become an increasing problem until we decide we don't
need cars any longer. But it's just not going to
happen for a long time in Auckland least. Anyway. That
wraps up that part of the show, because right now
it is six minutes to five, and we thought, well,
(38:18):
might produce a lock. He's a smart guy and he thought, look,
we can't really talk about townhouses all day without having
a townhouse for Property of the week. So we've gone
with well, it's three slash five. I think that means
unit number three and five Parl Why Crescent and Ponsonby.
Now we've got a bit. It's a couple of mill
(38:40):
but you're getting quite a lot of in the townhouse.
You've got three bedrooms, three bathroom and drum roll, please
two car garages one and eighty three square meters. Brian
sell it for us?
Speaker 3 (38:51):
Well, you look at that. You've got a lovely modern property,
warm and dry, in location where you can walk upon Sby,
one of the most sort of after places, not just
an Auckland but in New Zealand. So if you look
at going and buying a standalone property here, that may
be beyond some people's means. But he've got a townhouse,
the ability to live right hard do we you would
want to be?
Speaker 2 (39:10):
What could be better? Architect?
Speaker 9 (39:12):
Oh?
Speaker 2 (39:12):
Gosh, he's good. Isn't here? You're not still in there?
You're not actually a real estate agent? These they are,
are you? You're just in the EU management? Yeah, just
organizing it. Yes, yeah, you do. You have a step
in and just sell a house for a friend. Just
I'll do your favorite because I'm amazing.
Speaker 3 (39:25):
No, no, we've got We've got a whole bunch of
people who are way better than meat.
Speaker 2 (39:29):
What did you think of these ones? They're quite nice.
I mean it's a boutique. It's therefore, there are architecturally
designed townhouses, quite a paraway Crescent Ponsonby Road. You know
five minutes away from there.
Speaker 3 (39:42):
So it goes back to my original comment. When people
talk townhouses, you do tend to get a lot of
commentary that we've had today around lack of park and
what it's doing and maybe how good is the quality.
But there are so many properties in the townhouse market
that are beautiful and that are wonderful places to live,
So I think we need to make sure we don't generalize.
Speaker 2 (40:00):
Yeah, by the way, I have to say so, I
haven't gotten to any texts because we've been busy with
the cause and the comfort. So I do apologize because
I do invite the text and we haven't managed to
get onto those, although one says that guy on now
tim great radio voice. Hey, Brian, we'll have to get
you back.
Speaker 3 (40:17):
Don't don't take a breath, Will you tell coming again?
Speaker 7 (40:21):
Yeah?
Speaker 2 (40:22):
Hell, actually, now I think of it, you have got
quite a good radio voice.
Speaker 5 (40:26):
Yeah, thank you.
Speaker 3 (40:27):
Yeah, and thanks to the text.
Speaker 2 (40:29):
Okay, Hey, thanks for your correspondence and your calls. We're
back with the parents squad. Sarah chat ones with us.
How do you help your kids choose subjects and choose
where their life's going when they're only I don't know,
fifteen years old. We'll be back with that perennial question
and just a moment for the parents squad. News Talk ZIBB.
Speaker 1 (40:51):
For more from the weekend collective. Listen live to News
Talk zed B weekends from three pm, or follow the
podcast on iHeartRadio
You're listening to the Weekend Collective podcast from News talks
'b Yes.
Speaker 2 (00:11):
And welcome back, Welcome in, Welcome back to the Weekend Collective.
I'm Tim Beveridge and this is one Rufriday Asher. This
is the part of the show where we actually we
want you to call WA one hundred and eighty ten
eighty in text your feedback as well on nine two
nine two. By the way, just looking aheato half the
five for the for the Parents Squad Sarah Chat one's
with us and we're going to talk about that. If
you're a parent who've been getting those questions about what
(00:33):
do I do? You know, Mum, I've got to make
mum daud. I've got to make my mind up on
my subjects, and my teachers say, you know, I need
to take subjects that are going to help me with
the career I want to do, and I don't know
what I want to do. We're going to have a
chat about that. We might not actually deliver the answers,
but we might, you know, give some food for thought
for you on that, because how do you steer your
child towards an education and career which they're going to
(00:56):
find fulfilling. Oh god, it stresses me out just asking
the question. Anyway, this is the one Ruth Radio show, though,
and what we're going to talk about to kick it
off with is we're going to dig into this question
around townhouses. Does New Zealand I mean, there's a headline
here from a news story does New Zealand have too
(01:16):
many new townhouses? And are they crashing the market? And
I was thinking, well, if they are, then so what
in a way that if there's a problem with townhouses,
then who's is it? Because there's been plenty of discussion
about where the New Zealand's built too many townhouses and
so then we get into the discussion around oversupply of
(01:37):
housing being a problem. But if we're talking about it
being a problem, whose problem is it? Whose interests are
we talking about? I mean, maybe it's uncomfortable for developers, investors,
existing owners because you think, oh, I want my property
to go up, But surely also plentiful, cheaper housing is
fantastic news for first home buyers. I mean, I've got
kids who are going to be children. Should I say
(01:58):
who'll be leaving school? I don't know when they're going
to leave home. Doesn't worry me either. I mean funny
enough and be quite happy for them stick around for
a bit, but I wonder whether they'll ever be able
to afford to buy a home. So maybe this supposed
glut means that the affordability for them when they find
he ready to buy a house is actually going to
mean it's in reach. So is there ever such a
(02:21):
thing as a problem for the whole real estate market?
So yeah, we're going to get into that. Eight hundred
eighty eight is our townhouses? Is the glut of them
a problem? And to discuss that is He is the
managing director at Harcourts and his name's Brian Thompson. It
sounds like he's never been on the show before. I
just say, Brian Thompson, harwot's with us again? Hello? Brian?
(02:43):
How are you known?
Speaker 3 (02:44):
Tim? I'm very good. On this beautiful winter's day here
in Auckland.
Speaker 2 (02:47):
It actually it's not it's actually quite It is quite
an interesting looking day, isn't it? Because it's not blue sky,
but they've got beautiful cloud formations. Is there's a little
bit of moisture around, a bit of sunshine, bit of everything, isn't.
Speaker 3 (02:58):
It's a great day? And I know people fear the
South at probably having a bit of a beating with
the weather at the moment, but no, it's a beautiful
day here in Oakland.
Speaker 2 (03:04):
Well again, sometimes is getting a beating with the weather.
If it's snowing somewhere, the skifields are going.
Speaker 3 (03:07):
Woo, you'd be right.
Speaker 2 (03:09):
Okay. Firstly, your interest as a real estate person, I mean,
you're only interested as interest as an activity, isn't it
really what I mean this talk about townhouses. What's your
take on it? Because it's like the word townhouse has
(03:29):
become Oh, he's living in a townhouse. Oh, that sounds dodgy.
Speaker 3 (03:34):
It's funny because you hear the word townhouse and a
whole lot of people in the world would have an
instant picture in their mind of a whole lot of
properties built close together it all look the same. And
that's just simply not true. There's townhouses around it are
two bedroom, one bathroom, where there's quite a number of
them in one development looks similar. But you can drive
to the most blue chip of blue chip locations anywhere
(03:56):
in the world and there'll be beautiful townhouses that will
have multiple bedrooms and multiple bathrooms on smaller blocks of land.
So when you hear a sweeping generalization that townhouses are
more difficult to sell, that's not actually true. It's like
people say the real estate market is X or why
there is no one real estate market. It varies between locations, demographics,
(04:17):
and property types.
Speaker 2 (04:18):
Yeah, because there was a time when property was going
gang buses. We had a lot of people talking about
investing and just get in there and leverage up and
away you go. But that wasn't working for a lot
of people. And the more I think of it, what
is housing about? What is the housing market about? We
have a housing market because people need somewhere to live
full stop. And if people if there are some houses
(04:41):
that are cheap, I mean, that's on the developer as well,
isn't it. If if they're having a problem selling their townhouses,
then I guess it's their problem. But is it a
problem for the market. I don't know. I can think
the only problem you would identify that you'd be concerned
about would be if no one was buying and selling,
and that would be.
Speaker 3 (05:00):
That simply doesn't happen. We have periods of very high
turnover and number of properties selling in periods where it's
a little bit lower like it is at the moment.
But I think when you look at the developer market
or the townhouse market, which is driven by developers in
the main, you can't magic house up overnight. It's not
that long ago that the words in the media and
the commentators where there wasn't enough property, so prices are escalating.
(05:24):
We need to produce more property. So the developers go
to work and they secure land and they have designed
their new developments and they produce them. But you can't
wave a wand in the here now. It takes years
to get consents and build the properties, and all of
a sudden, what we've seen is we've seen a lift
in inflation, a bit of a rise in interest rates,
and people throwing weapons around the world. It's broken people's confidence.
(05:47):
So the products come forward while the market's lacking a
bit of confidence. So we have a lot of stock
of various different types of townhouses on the market through
various different places, and in a lot of cases they've
cost more to produce than what they're selling for at
the moment. So they are not moving because the people
who've built them have a property that they've invested in
and they're not looking to lose money. So as the
(06:09):
market slows down a bit, people look, but they're still transacting.
It's just a gap between what the buyers are prepared
to pay for them and what they're for sale for.
It's simple supply and demand.
Speaker 2 (06:20):
So at the moment there are some developers. Actually, look,
if you're a developer and you've made a bunch of townhouse,
actually I've got sympathy. You need to put a lot
of money where your mouth is and you've you've created
a development. But if it's cost you more than you
can get for them selling them, that is a problem.
And you don't want to see people going bung. But
in the end, what happens. Do they just have to
(06:40):
they have to sell them? Do they or sell them
at a loss? Or what I think?
Speaker 3 (06:44):
You know, when times are great and the market's spinning over,
everybody thinks being a developer is great fun. Being a
professional property developer is a very very complicated business. You
need to have so many different skills and knowledge and
the right people around you to get it right so
that you can weather when things don't move as quickly
as they should. And there are some fantastic business people
(07:06):
who work in the property development field, but it's not
a place for amateurs because if the market changes underneath
you and you still own your product, you have to
carry the holding costs until the market moves again, or
sell the property now, and the reality is the capital
that's tied up. Often people are better to look at
the property they own now and say, let's move that
one on and we'll do better with the next one,
(07:28):
because just simply sitting on a product hoping that the
market's going to catch you up as often a flawed theory.
Speaker 2 (07:36):
And it would be I guess if somebody has taking
a punt at being a developer and it's their one
time big investment and they've over spent, then they're the
ones who've got a problem if they're not in it,
if they're not in that sort of flywheel motion where
they just say, look, let's just let's realize what we
can and then move on to the next project.
Speaker 3 (07:52):
Yeah. Well, it's like any business decision or any investment decision.
Tim it's at the end of the day, we're all
adults and we all make our own decisions, and we
should celebrate when we get it right and do really well.
And if we get something a little bit wrong that
we've got to find a solution and move on and
do a better decision next time.
Speaker 2 (08:08):
Do you worry about these headlines two minutes that the
word townhouse is getting a bit of a slagging it's
become Do you worry about Yeah? I mean, for instance,
if you were selling a townhouse, would you call it
a townhouse or would you say attractive new terraced house development.
Speaker 3 (08:30):
I think at the end of the day, people see photos,
they know what you're selling.
Speaker 2 (08:33):
The reality of the townhouse when you.
Speaker 3 (08:35):
Look at it. So it's what I said before. Townhouse
is a generalized term. You can see townhouses that are
two bedroom, one bathroom on very small blocks of land
outside living, that are beautifully designed and very well structured inside. Conversely,
you can see other townhouses that perhaps haven't been designed
quite so well, who are designed for families, but they
don't have enough outside living. So a townhouse can be
(08:58):
absolutely beautiful and very saleable, or it can be one
that's got a design flaw in it, and when the
market's a little bit slower like this, those type of
those types of attributes become more and more and more important.
Is always a flight to quality when things.
Speaker 2 (09:13):
Are hard interesting. I was actually dropping my daughter at
a friend's place in Stonefields, which has got a variety
of I mean, it's a fascinating development, stone Fields. It's
been going for a hell a lot longer than if
I was to look back at how old Stonefield's probably
twenty years old now, I guess, but I did, and
we might get onto this with some callers as well.
(09:34):
But I suddenly thought, hell, there's not much room for
a car here. And the whole question of car parking
is an interesting one, and that's a bit of a
gamble for developers to get right as to who's going
to live here and will they actually ultimately need a
car park.
Speaker 3 (09:49):
So I wouldn't call it a gamble at all. I
would call it a decision to be made after assessment,
because in some locations a car is not quite so important.
Perhaps you're close to the rail head, perhaps you're close
to public transport. Perhaps the property is designed for people
who are unlikely to have a car. Conversely, in other areas,
if you didn't have a garage or associated car parking,
(10:09):
it could be a problem. So you can't generalize that
the lack of a car park is a problem. It
may very well be for a range of properties, but
some other ones it may not be so important that
Probably the biggest trouble you have is if you don't
have a garage's weedy a store your stuff, because I
bet you'll have a whole lot of stuff at home.
Speaker 2 (10:27):
I'll tell you what the need for storer Jay. I
don't know if i'd be I wonder if I would
initially put that on a shopping list if I was
looking at a townhouse. Anyway, Let's take some calls eight
hundred and eighty ten to eighty townhouses. They say there's
too many being built. Is it a problem? What's a
problem look like in the property market? And if you
were selling something that was a townhouse, would you try
(10:48):
and avoid calling it a townhouse? Because it's just a
playful notion of mind that the word townhouse has really
been dragged through the mud at the moment. Right, let's
go to the phones, shall we Roger? Hello, Hi Jim.
Speaker 4 (10:59):
Yeah, I live very happily live in a townhouse in
central christ Church. I love it, about twenty years old,
very well built, double glazed north facing, never get frosts
in the courtyard, and I have a secure internal access
garage and this parking for visitors. The townhouses two hundred
(11:21):
and fifty two being built in the Central Sea so
christ and two hundred and fifty two by the time
this latest development is built. That we two undred and
fifty two of one one developer or two different complexes
for one developer without any parking at all, not even
(11:42):
on site. Now, to me, that is utterly ridiculous. We're
not going to give up our cars generally, and so
it's it's I think the councils are trying to whether
it's the council very just as stupid the fact if
they're encouraging this, this ridiculous strategy and they're not selling
(12:04):
the one garages are selling.
Speaker 2 (12:07):
But is it just a question of the price needing
to be right that someone will eventually go, Actually, you
know what I'd get around on the bus?
Speaker 4 (12:14):
Would you spend seven hundred and fifty thousand dollars on
an apartment without a car park? You take a nice car,
You're going to park it down the road somewhere.
Speaker 3 (12:21):
No, I'd want something from Aston So Roger two things
there and it's great to hear from someone from Christ. Yes,
the city that's really at the top of the pops
at the moment, not just in New Zealand but around
the world. It's just in such great shape. You made
a couple of very good points. You're enjoying living in
your townhouse because it's warm and safe and secure and
(12:41):
in a great location. And you've got some parking. That's
a bonus you're comment about. Yeah, you're coming about the
ones that are being built with no parking. That comes
down to a planning issue, because if a development is
produced with no parking or no garaging, that's an assessment
that's been made by the powers that be and the
developer that's the market's going to react well to that.
(13:03):
If the market doesn't react well to that, then the
developers got a challenge, hasn't he or she?
Speaker 5 (13:08):
Oh?
Speaker 4 (13:08):
For sure. I mean I rang the advertisement for this
new development. There's one hundred and forty one apartments. They
haven't started building yet, but it's on big site right
in the middle of town. And I said to them, now,
have you got a new parking And the guy said, no, no,
we don't what no parking at all? Said no, I said, well,
I've got a nice caw we are not going to
(13:28):
partner a car or there's Wilson car park just down
the road. And I thought, now, wait a minute, as
if that's going to happen, who's going to buy a
seven hundred and fifty thusum to a million dollar apartment
and parking Wilson car pack down the road with there?
Speaker 3 (13:41):
But the only thing I'll say to you is Roger
and I fully understand how you feel about that. But
there will be people who will buy those properties as
long as the price relates to their view of value
of the property without a car pack.
Speaker 2 (13:53):
Hey, look, you know it'll be public knowledge. What's the
development you're talking about?
Speaker 4 (13:59):
Williams Corporation. They've built one hundred and eleven and they
aimed at Airbnb. But even Airbnb people will have a
rental car, not all but a lot will and they've
got nowhere apparently a rental car. So that the same
developer immediately north one hundred and forty one apartments. It
look looks very nice, but no parking at all.
Speaker 2 (14:19):
So where what's the location for the for this this?
Speaker 4 (14:22):
It's right in middle you know, Worcester Street Casual more,
it's right right well, it's sort of Manchester Worcester, Gloucester.
Speaker 3 (14:31):
Okay, oh, so that's a biggie walking distance of that
wonderful new stadium.
Speaker 2 (14:35):
Roger, Actually, oh that's interesting, they see if it's got
the location right. It's a question about what if you
can get to the supermarket and a quick stroll and
you can't know. It's interesting, isn't it. But in the end.
Speaker 4 (14:49):
Market and you're going to visit your friends five k's away,
you're not going to get an uber or something like that.
You're going to take your car generally.
Speaker 2 (14:59):
Wow, what that? You know? This? This is why this
is such a fantastic conversation. I think, because I reckon,
there will be people who even just listening to this,
they'll be like, I don't know, I don't need a car, pa,
I might go check out what this development is.
Speaker 3 (15:12):
So, Roger, the most important thing you said during that
conversation you said you wouldn't pay seven fifty two a
million for a townhouse with no parking, correct, But there
would be a price where you would well have so
just supplied. It's a supply demand equation, isn't it that?
And we're all different. Every person who looks to buy
(15:34):
a piece of real estate, no matter what it is
or wherever it is in the world. We all have
our own our own ability. That is what we can pay,
but more importantly, what we will pay and values in
the eye that beholder, isn't it.
Speaker 4 (15:48):
That's right? But in New Zealand we will not give
about cars because we're not bigging population a huge transport system.
Speaker 2 (15:55):
Yeah, do you worry about it, Roger? That what happens
is people will buy them, then they'll want a car,
and then the streets will get clogged up with everyone
trying to find somewhere to pop there all the time,
and then it just ruins the central city.
Speaker 4 (16:08):
That's exactly my point. The streets so already choked it up,
now they're going to be more so. And it's.
Speaker 2 (16:16):
No, that's I think you're pointing towards a potential problem.
I mean that is that is sort of is from
a planning point of view, a problem, isn't it, Brian?
Thanks Roger. That is a potential problem planning wise, isn't it.
Speaker 3 (16:28):
I certainly having parking for people's vehicles, either on their
own property or someone else is. But I suppose when
you look at the growth of a society in an
easily walkable city. If you're going to live in the middle,
there's a cost of having a vehicle. I mean, we're
sitting here in Auckland at the moment and they're starting
to talk about putting on congestion charging in the CBD,
so you won't be able to bring your car to
(16:48):
town unless you're prepared to pay a lot of money.
So you ask yourself that question. We've got a new
the city, the new rail links opening very very soon,
so it'll be interesting to see how quickly the society
around the major cities in New Zealand change in regard
to actually having a vehicles.
Speaker 2 (17:05):
Interesting. I'm just looking at the Williams some of their development,
so I've got to say not there's not too many
and they are ripping excitingly too much in terms of design.
But then again I'm not in the market for one.
So hey, look, we want your calls. Though townhouses we
don't have it. We don't necessarily have to have a
crack at a particular development. But what is the biggest
problem for townhouses? Do you think is it what our
(17:26):
call has just said about the absence of parking or
does it still do those properties still find their medium ground.
They're sort of what's it called, you know where the
bar and selo.
Speaker 3 (17:37):
Makes I think, and we should not just focus on
what are the supposed problems with townhouses, think about the upsides. Warm, dry, modern, safe, secure,
well located in most cases, and they give you an
option compared to an apartment because for some people moving
into a body corporate lead major apartment development is a
(17:59):
step too far, but they can move from their big
home or get their first home. In a townhouse. You
are more semi in your own property, not being driven
by your neighbors straight through the wall in all cases.
Speaker 2 (18:10):
Yeah, this is this is why I imagine you've been
quite a successful realistate agent in your time, because you
made that sound very appealing. Brand well.
Speaker 3 (18:19):
I was talking to our producer Lock outside here is
clearly a very smart young man, and he said, and
I quote, he thinks he could handle being in a
town house, but an apartment he's not so sure. And
I forgot to tell him that I've lived in an
apartment with my wife for the last sixteen years and
we absolutely love it.
Speaker 2 (18:36):
Do you have parking, yes, yeah, because that's good to know.
Speaker 3 (18:42):
I'm of an older generation. I mean it won't be
that long before I won't be able to walk. I
have to have a.
Speaker 2 (18:46):
Car, yes, or a taxi or driving this daisy.
Speaker 6 (18:51):
But we.
Speaker 3 (18:53):
All the new autonomous autonomous cars that are coming in.
Speaker 2 (18:57):
Yeah, it's gosh. We're taking your calls. We'll be back
in just a moment. We're with Brian Thompson, Managing director
director at Harkwurtz. By the way, I mean hard courts.
Which one of them your market's christ Church. I mean,
you guys are hardworts and kings of christ Church, aren't they?
So you'd be loving this chat about Chitch.
Speaker 3 (19:13):
We've got a wonderful bunch of people down in christ
Church and there's no question they're living in the highlights
city of New Zealand at the moment. I mean, New
Zealand's such a wonderful country. But I suppose you to
what christ Hitch went through those It's having a.
Speaker 2 (19:28):
Bit of a renaissance, isn't it now finally after having
waited a long time?
Speaker 3 (19:33):
Yeah? Yeah, and it's rock and I think open the
stay Cloud has a silver lighting. They talk about post
traumatic growth. The city there is just on fire at
the moment. It's such a great place to be good stuff.
Speaker 2 (19:44):
We're back in just a moment of twenty six and
a half past four News Talk s d B. Yes.
News Talk said, B, do we have too many new townhouses?
Is it a problem? Or is it there's no such thing.
Is there such a thing as a problem for the
real estate market or is it just a problem for
some and good news for others. My guest is Brian Thompson.
He's the managing director at Harcourts. It's takes some more calls,
(20:05):
Kieran good, I tell you good. Thanks.
Speaker 1 (20:11):
Yeah.
Speaker 5 (20:11):
So I just sort of when I actually owned the townhouse,
I bought it first last year. I first of all,
I absolutely love it, you know, it's my heart. Everything
like that, you know, the first home I have no
talking to a few people that also owned townhouses and
(20:33):
developments and things like that, that the level of quality
maybe just isn't there in some areas. Like little things
that I noticed when I bought the house were another
the tops of the doors were painted, and the bottoms
some of the plumbing. I had to get facts almost
(20:55):
immediately because electrical tape was used around piping and that
might just be a once off. But other people I've
spoken to not in my development, but others have also
seen that I have noticed, and I wonder if it's
the monotony or the of the builder or the developer
trying to keep costs down.
Speaker 2 (21:11):
But yeah, that's interesting one. I think Brandy.
Speaker 3 (21:16):
Storing in care and I wrapped you enjoy your townhouse
because I think the world's full of negativity, isn't at
the moment and you can open that. And I'm not
picking on any particular part of the news media, but
they seem to like to tell you things that are
negative because that's cells story. So I'm wrapped your owner.
I think your comment around around quality within within townhouse construction,
it's not specific to that that sort of property. Whenever
(21:40):
you're buying a property, be it brand new or being
or being a property that's been owned before, you've got
to do your homework. You've got to get it checked.
And if it's a brand new development property, you've got
to make sure that you know what the what the
requirements of the developer for ongoing maintenance for the first
period you own own it are, and there are They
are like any anything you buy in the world, but
(22:01):
particularly more expensive items such such as a home. You've
got to compare what you get for the money to
what's in it, because some properties are absolutely beautiful, they're
very very high class finishing and finishes, and others may
be slightly lessed a lesser price points. So you've got
to make sure you know what you're buying.
Speaker 2 (22:17):
Did you bath the plans, Kim.
Speaker 5 (22:21):
No, So the developer actulutly listen bankrupt? Well, I wonder
whether the developer just went bankrupt with this part of
the business and carries on somewhere else. So I bought
it off a receivership. I decided to go with parks,
and I basically went through it with a building spector
and all that type of stuff and said, you guys
(22:43):
need to get this done for me. I got them
to basically completely take in the house because they have
been used as the show. I did all the right things.
You know, land on my mum a lot, a lot
of my friends are actually in real estate, so it
was there was yeah, pretty much the day that we
transferred over. It was bought you know, as is whereas
(23:03):
as it is with receivership. So those other issues that
then put ugly like a toilet leaking later on and
then bringing a plumber and an he goes, I almost
want to go to the plumbing council about whoever trying
to find out who did this because they've used electrical
tape around pipes and stuff. I mean that you're not
really to find through an inspection.
Speaker 2 (23:25):
No, what was what was it? Was it getting a
bargain or what?
Speaker 5 (23:31):
So definitely I probably wouldn't say it was a bargain,
being a single, single guy myself, but it was the
fact that I was going a little bit far and
I decided in November twenty three I wanted to buy
home lot all different places. I was going to like
six open homes a day. And I walked into place
(23:53):
and I think it was about middle of December, and
something about it was just perfect. It's three stories, I've
got three bedrooms, I've got the car park outside it,
the car park further around in the development for friends
or someone that's renting off me. And I just instantly
fell in love with it. And I was like, no,
big decision, I need to keep looking. So I kept
(24:16):
looking until and then yeah, I just made the February
I was I haven't felt that way about anything else
I've seen it, and it actually it's about even I
do have a car. It's very close to a train
station for me to get into the city in Auckland.
Speaker 2 (24:33):
Have you got a car?
Speaker 3 (24:38):
So it's really interesting because when you look at that,
you've found a property you really love. You love living
And there's been an old saying that your home is
your castle, and that comes back, in my view, from
the old days when people actually lived in castles, because
you could go home to your castle, pull the drawbridge
up so you are safe and sound and know it
could come through and attack you. And I think people
underestimate how important it is in an individual or a
(25:02):
family's life to actually have a home. And people choose
or need to rent for a while, and that's that's
fully understandable. But having a warm, safe, secure home that
you actually like it changes your life. So well done.
Speaker 2 (25:14):
Good on you, Karen. Thanks for coll mate. We'll just
leave that there. We're we're up to it's twenty five
minutes to five. Let's go to another call Tom.
Speaker 7 (25:22):
Hello Gray can hey Brian, you sound like a fantastic
grillus that ag and my house anytime.
Speaker 3 (25:29):
Thanks Tom. I'd be happy to try and help. We've
got a bunch of great people around the country.
Speaker 7 (25:36):
I'm just swinging about the organ intensification. Everybody I talk
to seems to not be happy about that. And you know,
are we going to go back to the original status
or did you know much about that?
Speaker 3 (25:50):
I think intensification is always a challenging topic and it's
the old it's the old Nimbi's thing that you sometimes hear.
Not in my backyard, but I think as the transport
corridors develop in the public transport and the ability to
have more intensive living opportunities closer to those transport routes
(26:11):
will certainly add to the city this trouble you have.
If you don't intensify in areas, the city's going to
keep spreading and spreading and spreading. And it not only
takes up productive land on the outskirts of the city
tom it also puts massive challenge on infrastructure such as
public transport. And I think when you look at the
population of Auckland as a specific city, for the population
(26:34):
we've got now it's big on New Zealand standards for
the number of people, but on an international basis it's not.
But the land area it covers is huge for the
amount of people we've got which makes public transport hard.
So I think there are challenges both side of it,
but some form of intensification in the correct areas candle
of a really great outcomes for any city.
Speaker 7 (26:55):
So anything, house prices are going to stay static for
many years.
Speaker 2 (26:59):
Ah, you're trying to get a record from Bryan, good luck.
I think they're going to be a suppress for a
little while. What do you think asually just chang, We
don't know. We're trying to avoid doing market talk, but
let's get Brian's hot take.
Speaker 3 (27:11):
Good on your Tom So opinions on house prices are
like noses, Tom, everyone's got one, but they're all different shapes.
So I think if you look at the real estate
market historically, it moves in cycles. Sometimes there's not enough
property available and there's more buyers than there are properties,
so the prices go up. Sometimes we get a situation
that we've had for the last three or four years
(27:32):
where we've had a unrealistically boosted market post COVID, when
the money was almost free to borrow, and we're going
through a bit of a realignment to get it back
towards historic trends, and the market was getting a little
bit better November, December, January February, and then we know
what happened in the Middle East with the war that's
going on over there, and it's noted people's confidence a bit.
(27:54):
So I have no doubt in my mind whatsoever that
the real estate market, on both an activity activity number
of sales wise and also priced owth wise will turn
around and it will go back on a positive, positive
trend again, because it always does. Now the big question
(28:14):
is when when is that going to happen. Well, if
the war in the Middle East was sorted, and and
I have to say, I hope that happens sooner rather
than later because we don't need that stuff going on
around the world. And once we get through the election
in November, I certainly think it's we're going to see
a more positive footing. But I think it would be
a very very brave or foolish person who said that
(28:34):
we're going to have another massive lift in a short
period of time like we saw when the money was
basically free post most COVID. But I certainly see see
positive things I had for the market. Thanks Tom, Thanks Tom,
give me a call when you're rid of yourself.
Speaker 2 (28:51):
On the thing about quality. So this thing townhouses development,
some of course apartments as well. But what are what
are the ways that a buyer of a townhouse a
new development can feel more assured that the quality of
the workmanship that's behind the walls and everything is going
(29:13):
to be what they need as opposed to what was
described by called a couple of calls ago and yeah, Karen,
I think it was. Yeah, how would you go about
buying a townhouse and working out which developer you can
trust or not?
Speaker 3 (29:29):
Well, I think the first thing you can do is
you can have a look at who the developer actually
is and what is their track record. That's the first
thing I'd be doing. Have they been in business for
some time? What are the product have they produced? And
how is it looking now a few years down the track.
You need to make sure your documentation has been checked
really well by your solicitor, so you know what your
(29:50):
comebacks are if things tip oy over in the first
period of time you own it. You can speak to
your real estate agent who knows the track record of
the people who are building it, and you can also
get them checked by the right building inspector. Because while
you can't see through the walls, there will be about
how well the property is built.
Speaker 2 (30:07):
Okay, look, we're going to take a quick moment and
we've got room for some more calls if you like.
What do you think about the whole townhouse thing? Apparently
there's there are lots of discussions around New Zealand's got
too many townhouses being built and are they crashing the market? Well?
Is that a problem? Well, it's a problem if you
want the market to go up, But for someone else
it might be like, hooray, I might be able to
afford house. And what are the things that would turn
(30:28):
you off going to a townhouse development? Would it be
the absence of parking? And does it? I mean, we
look at the christ Church context. I've been looking at
a bunch of townhouses and there do seem to be
quite a few which are without car parks, which I've
got a bit does an interesting one from the town
planning point of view as to whether that's a good
(30:48):
idea or not. But you can give us your thoughts.
Speaker 5 (30:50):
I know.
Speaker 2 (30:50):
One hundred and eighty ten eighties, nineteen and a half
minutes to five News Talks EDB, News Talks d B.
Let's keep the calls going. We're talking about townhouses, the
virtues of them, a whole bunch of things with Brian Thompson,
he's a managing director of Hardcourts and Veronica.
Speaker 8 (31:04):
Hello, oh hello, I just wanted to know. And Aaron
Rode in browns By and all in all in browns
By roadside By. There's so many townhouses building and no
parking when I go and see my daughter, very hard
to get parking anywhere. And when you're older you get
frustrated and the press.
Speaker 2 (31:26):
Ah, but we because everyone's everyone wants a car, but
they don't want to pay for the car. They haven't
got a car park, so they're just using all the
street parking. That is a bit of a problem, isn't it.
Speaker 8 (31:36):
It is a problem when they've got a house and
you can't even with it. What happened if somebody at
a friend eral, you know, when Markman parked away and
there's no parking. You've got people coming, no packing.
Speaker 2 (31:49):
Well, this is a planning long way, Yeah, bron this
is a planning problem.
Speaker 3 (31:54):
There is a town planning issue. There's no question. It
is very very frustrating when you get I even have
it not when you go to certain parts of town
and you can't get a park, so you end up
leaving your car at home and getting it getting a
new we're or walking if you can.
Speaker 5 (32:06):
So.
Speaker 3 (32:06):
Yes, it's very frustrating and that is a challenge for
the for the planners, no question.
Speaker 8 (32:12):
Yeah what happens because this New Zealand is not like
Singapore and Malasia and all other agent country that you
can get a cheaper trunk put like a Huber or
rickro and all that. It's very cheap in New Zealand.
If you're going to want to go to only for
two kilometer tripilimeter costs you so much money in a taxi.
Speaker 2 (32:34):
Yeah, it is. Actually there there's a bit of a
crossover going on now where New Zealander is where a
properly market is getting used to people or isn't quite
used to people not having a car so that they're going,
oh look we'll buy it anyway, We'll just find somewhere
to park. And that is a problem for the planners,
isn't it?
Speaker 4 (32:49):
Yes?
Speaker 5 (32:50):
It is?
Speaker 2 (32:51):
And what's how does it get solved? I mean, I
guess you just have to have a time limit on
all these streets. So if somebody's got a car and
they think they're going to park it there.
Speaker 3 (32:59):
Well, I suppose that we do have streets around even
Orkland already we're a resident car parking. But you go
to other parts of the of New Zealand, of course,
you go to Wellington, there are quite a few streets
where you can't drive your car up to your house.
You bag it on the street. So now, yeah, it
is a challenge.
Speaker 2 (33:15):
Yep, Okay, let's carry on with the calls Andrew.
Speaker 7 (33:17):
High here you going.
Speaker 2 (33:19):
Good?
Speaker 6 (33:19):
That interesting conversation. Fortunately, unfortunately, I spent forty years of
my life in urban design and art CEA, and I
remember distinctly the urban designers coming from Canada to teach
our local authorities about the efficiencies of townhouses and transport infrastructure.
And it's the density that you want to increase around
(33:43):
transport road like railways and as they call it, the
pearls along the necklace, So where the transport routes are,
you intensify where retail and along those transporting so you
end up with high density living like we have experience
now in Auckland, where the social engineering is to try
and engineer the use of the car out of New
(34:04):
Zealander into the European model. So like the lady just
spoke about it. In Singapore, it's fine because there aren't cars,
there's really really good public transport, and our public transport
system won't really function as an international model might like
it did in Singapore and London other places, because we
live in a volcanic history ridden places. So autans a very.
Speaker 5 (34:30):
Complex city may a transport of structure work.
Speaker 9 (34:36):
I want to do.
Speaker 3 (34:38):
I think that there's no question. The challenges is that
just producing high density style property doesn't solve the issue.
The whole system has to be integrated. So if you
don't have a place for a car or a park,
you have access to rapid, rapid and affordable public transport,
or you live somewhere where you can or where you
can actually walk or get to where you need to
go without a vehicle. So just building one part of
(35:01):
it doesn't work. So what you say is hundred percent right.
It's got to be integrated.
Speaker 4 (35:04):
Together, absolutely right.
Speaker 6 (35:05):
So the flaw in the system was we can rezone
the land so that developers can build identity. But I
just remember this twenty thirty years listening to the local authority,
you say.
Speaker 4 (35:16):
How do we build the infrastructure?
Speaker 6 (35:18):
Who pay that? And we're twenty thirty years behind the
infrastructure builds and look at poor orkand council. Now I'll
still try to deal with that. And it's not London
had the same problem. They have those rings around the
city where you can't take cars correct and everybody, I
specially and you live like an Auckland or a New Zealander,
you've got one too new cars and you look at
(35:39):
I've looked at many of these developments as that get
built and the roads are littered with cars because we're
not used to not etting cars and we don't have
an out, we don't have an alternative.
Speaker 2 (35:49):
Yeah, there's still a bit of that is one of
the challenges for the planets, isn't it, Bryan. Yeah, thanks Andrew, Well,
yes it is.
Speaker 3 (35:55):
But here's a funny fact for you. There wasn't a
major problem with transpor with cars on the Auckland roads
until we started bringing in secondhand vehicles from Japan, which
plummeted the price of your cheaper second car. So all
of a sudden, every family had two or three cars
instead of one. And you can see the graphs that
the Auckland transport experts can show you that that's where
(36:17):
the problem started. So it's a very very complicated, complicated
equation to fix, right, We.
Speaker 2 (36:24):
Need to take a quick break, will be back in
just the tickets eleven minutes to five News Talks he'd
be yes, News Talks. Well, time for one quick coll
before we do the Property of the Week. We're with
Brian Thompson and Richard Hello.
Speaker 9 (36:36):
Hello. I just want to put one thing straight about
discussion about car parking. It's not a challenge for planners
because they're not even given the options. The government took
away the ability for councils to require minimum parking about
eighteen months ago, and so they left it to the
market to decide what the.
Speaker 2 (36:58):
Town planners don't have an option as to how they.
Speaker 10 (37:02):
All councils. Councils cannot impose minimum parking requirements.
Speaker 2 (37:07):
Oh really, okay, well that is a problem then.
Speaker 3 (37:10):
Yes, it is to be clear to what you say,
I'm sure is correct. I was including the people right
at the top of the tree and the planning challenge
right from central government right the way down. So there's
no question the market will decide.
Speaker 2 (37:25):
It will decide, actually, I mean will the market ultimately
work it out, because you'll get all these places where
you can't park or is.
Speaker 10 (37:32):
It level work itself out. I live in the street.
It's got about four short Street used to have a
couple of cars parked in the street. The five new
developments they actually do provide parking in it, and you
can't drive down the street. I think it's going to
(37:52):
be twenty years before we say to people you don't
need a car.
Speaker 2 (37:56):
Yeah, well yeah, actually it does seem like it's going
to become an increasing problem until we decide we don't
need cars any longer. But it's just not going to
happen for a long time in Auckland least. Anyway. That
wraps up that part of the show, because right now
it is six minutes to five, and we thought, well,
(38:18):
might produce a lock. He's a smart guy and he thought, look,
we can't really talk about townhouses all day without having
a townhouse for Property of the week. So we've gone
with well, it's three slash five. I think that means
unit number three and five Parl Why Crescent and Ponsonby.
Now we've got a bit. It's a couple of mill
(38:40):
but you're getting quite a lot of in the townhouse.
You've got three bedrooms, three bathroom and drum roll, please
two car garages one and eighty three square meters. Brian
sell it for us?
Speaker 3 (38:51):
Well, you look at that. You've got a lovely modern property,
warm and dry, in location where you can walk upon Sby,
one of the most sort of after places, not just
an Auckland but in New Zealand. So if you look
at going and buying a standalone property here, that may
be beyond some people's means. But he've got a townhouse,
the ability to live right hard do we you would
want to be?
Speaker 2 (39:10):
What could be better? Architect?
Speaker 9 (39:12):
Oh?
Speaker 2 (39:12):
Gosh, he's good. Isn't here? You're not still in there?
You're not actually a real estate agent? These they are,
are you? You're just in the EU management? Yeah, just
organizing it. Yes, yeah, you do. You have a step
in and just sell a house for a friend. Just
I'll do your favorite because I'm amazing.
Speaker 3 (39:25):
No, no, we've got We've got a whole bunch of
people who are way better than meat.
Speaker 2 (39:29):
What did you think of these ones? They're quite nice.
I mean it's a boutique. It's therefore, there are architecturally
designed townhouses, quite a paraway Crescent Ponsonby Road. You know
five minutes away from there.
Speaker 3 (39:42):
So it goes back to my original comment. When people
talk townhouses, you do tend to get a lot of
commentary that we've had today around lack of park and
what it's doing and maybe how good is the quality.
But there are so many properties in the townhouse market
that are beautiful and that are wonderful places to live,
So I think we need to make sure we don't generalize.
Speaker 2 (40:00):
Yeah, by the way, I have to say so, I
haven't gotten to any texts because we've been busy with
the cause and the comfort. So I do apologize because
I do invite the text and we haven't managed to
get onto those, although one says that guy on now
tim great radio voice. Hey, Brian, we'll have to get
you back.
Speaker 3 (40:17):
Don't don't take a breath, Will you tell coming again?
Speaker 7 (40:21):
Yeah?
Speaker 2 (40:22):
Hell, actually, now I think of it, you have got
quite a good radio voice.
Speaker 5 (40:26):
Yeah, thank you.
Speaker 3 (40:27):
Yeah, and thanks to the text.
Speaker 2 (40:29):
Okay, Hey, thanks for your correspondence and your calls. We're
back with the parents squad. Sarah chat ones with us.
How do you help your kids choose subjects and choose
where their life's going when they're only I don't know,
fifteen years old. We'll be back with that perennial question
and just a moment for the parents squad. News Talk ZIBB.
Speaker 1 (40:51):
For more from the weekend collective. Listen live to News
Talk zed B weekends from three pm, or follow the
podcast on iHeartRadio
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