January 30, 2026 • 41 mins
New Zealand's biggest bank, ANZ, has downgraded its forecast for property prices this year.
It says its previous forecast of 5% is looking unrealistic as the OCR looks to be making a turn soon and market prices are already falling - now saying a 2% rise is more likely.
Meanwhile, economists are laying out their predictions for when we'll see the OCR make that turn.
Many say it won't be until 2027, but some are predicting a rise as soon as the second half of this year.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Listen
Watch
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News Talks
b Jensation.
Speaker 2 (00:35):
Obligations.
Speaker 3 (00:37):
You never kept the same address, and I was gonna
say anyway because I was in the middle of a
conversation off here. Just then, Hi, welcome back to the
Weekend Collective. I'mton Beverage. If you have just joined us,
that were the panel, and if you miss any of
the hours after six o'clock, then you can go and
check it out online. Just go to the iHeartRadio or
News Talk. But right now it's time for the one
(00:59):
roof radio show radio show where we talk all things property,
not all at once, of course, we uhould talk one
or two things property is each each hour. But we
want your participation. We want you to join in and
give us a reckons on eight hundred eighty ten eighty.
We can text on nine two nine two, but don't
forget if you want to jump that queue of the
text and then eight hundred eighty ten eighty is the number.
Speaker 4 (01:21):
Now.
Speaker 3 (01:22):
New Zealand's biggest bank, A and Z, has downgraded its
forecast for property prices this year. They said their previous
forecast of five percent it's looking unrealistic. Is the ocr
the dreaded cash rate looks to be making a turn
soon because there is a bit of pressure on the
reserve bank. They talk, they're saying that maybe the cash
(01:42):
rate might pop up a bit, and market prices are
already falling, so now they're saying, maybe it's only going
to be a two percent rise in the market. Economists,
you know, I mean, everyone's got a prediction, haven't they.
Economists laying out their predictions for when we'll see that
cash rate make that turn. Some say it won't be
until twenty twenty seven, others predicting a rise in the
(02:03):
second half of this year. I've seen earlier in that. Anyway,
what are your predictions? But also what does it mean
for the property market? And you know, as we know,
there used to be the thing, oh the property market
doubles every eight or ten years. I think we've for
the time being, we're putting that to one side. I've
heard other predictions saying change that eight or ten years
to twenty five thirty years. Anyway, we want to know
(02:25):
what you reckon on eight hundred and eighty ten eighty
or text nine two niney two, And to discuss it, well,
we bring in the big guns for this stuff here.
He's managing director director at Harcourt's New Zealand. His name
is Brian Thompson and he's he's with us now O today. Brian,
are you going to.
Speaker 2 (02:41):
Be a good term?
Speaker 3 (02:41):
Use things good? Did you have a bit of a
you have a bit of a break. You're looking I
don't know, you look like one of those chaps who
never looks like they're not tanned.
Speaker 5 (02:50):
I'm not kidding you to write with cev No. We
had a great break. We're really lucky.
Speaker 2 (02:53):
This year.
Speaker 5 (02:53):
We got to spend a few days down in christ
Chatch with my mum, who's moved down there for some
into a key home, and my sisters and it was magnificent.
A it windy, but it was so warm and it
was beautiful. And then we flew back up here and
went to the beach and we had first couple of
days it was windy and not very warm, and I thought,
here we go again. And then the weather changed and
the sea was flat, calm, and it was hot and
(03:15):
there were fish everywhere, and the golf course was beautiful.
The golf was terrible, of course, beautiful day. I'm really
really lucky, really lucky. We had a great break.
Speaker 3 (03:23):
How many days, how many days fine weather do you
need when you're at the beach, because I don't know
if I think you just need some, don't you You
just need too You need to have a couple two
or three mornings where you wake up and you go.
Speaker 5 (03:37):
You at least need some, that's right. The last few
years Christmas at the beach hasn't been a lot of
fun for most of New Zealand. And while there's been
some you know, some tragedies and that's recently close to
beaches which is really heartbreaking, but over the Christmas New
Year break, we were very very fortuate.
Speaker 3 (03:52):
Yeah, well I mentioned it before the panel had a
few days with just the week it's just gone where
we had some beautiful weather and one of them was
out to goat Island and it's funny, we haven't had
a beach holiday this year and we don't usually, but
just going there for a day, you know, sticking on
the wet suit and snorkeling for two or three hours
(04:12):
and it was just glorious and the people, you know,
people are out in force. Eventually, you know, it was
one of that was coming off the bad weather period
and gosh, it's something about just being at the beach
for a day or two.
Speaker 2 (04:25):
Yeah, seawater makes your life better.
Speaker 3 (04:27):
Yeah, which leads us to I could actually just let's
talk about coastal property. Let's not do that. Hey, So, okay,
you're you're the You're the head chrangue at Hardcourts.
Speaker 2 (04:40):
I'm just Brian.
Speaker 5 (04:41):
But I've got a fancy title, has that I'm just Brian.
Speaker 3 (04:44):
That's not the first time you've said that.
Speaker 2 (04:46):
Well, that's the fact.
Speaker 3 (04:47):
Yeah, okay, okay, so well, managing director is the fancy title.
But anyway, what's you know? Actually, by the way, when
do you guys get sort of you would have been
back into it. The real estate agents be keeping.
Speaker 2 (05:00):
A lot of our people work through.
Speaker 5 (05:01):
I have to say people, you know, when people looking
buy and sell property, you need to beailable. So while
everyone tries to structure the day and get a break.
Now there's a lot of the team work through and
are back pretty early. And there was a you know
that it depends when Christmas Day falls, what day of
the week it is. But but you know, summer's busy.
Speaker 3 (05:18):
No rest for the wicked, all the good. You had
to say that that's just an expression, by the way,
not a comment on the real Hey, so what what
what are your thoughts about the year, because there is
there's some mixed the mixed headlines between the i K
last year was a bit slow and maybe we're going
to see a bit more energy. But then we hear
that there might be a change in approach to the
(05:39):
o CR, which means borrowing is going to be more expensive.
We're not sure what's going on, you know with I
don't know how international politics impacts on this. But what
do you see for the market this year?
Speaker 5 (05:49):
Yeah, so there's a great old saying that opinions like noses.
Everyone's got one, but you don't necessarily have to share them.
Speaker 3 (05:56):
Not sure that's the.
Speaker 2 (05:57):
Butch I'm thinking.
Speaker 5 (05:59):
You'm here, so you've asked me for an opinion, and
I will say that when it comes to the real
estate market, whether you're a buyer or a seller or
an observer, there's way too much noise that floats around,
confusing people's heads. It's not actually relevant to the vast
majority of people who are buying and selling property. And
an example of that I would give you is if
(06:20):
you're looking to buy a home right at the moment
for yourself, and that's the biggest part of the market.
You were buying it because your family's got bigger, your
family's got smaller. You want a first home, someone's passed away,
someone's got married. So you look at that house today
or that property today. You get your If you're borrowing money,
you talk to your mortgage advisor or your bank and
they tell you what the rates are. You work out
(06:42):
how much you can borrow it, and you buy your property,
lock your rate in, and a way you go. You
don't worry too much about what it's going to be
down the track six months, twelve months, because you're not
going to be selling it again in six months or
twelve months. You're actually going to be living there for
quite some time. So I think people like to talk
about what the rates might do, like to talk about
what the market might do. But there's a far simple
(07:04):
way of working that out than listening to opinions from
people who are actually not in the market buying or selling.
Because if you look over time, there will be periods
when there will be periods when the market is really
really busy, and there we be periods when the market's quieter.
But over time, it all works itself out. The best
example I can give you people talk about the post
COVID boom and property prices when they went through the
(07:26):
roof because money was almost free, and since interest rates
went up the market has got very quiet. In some
parts of New Zealand, there's been some price shrinkage. But
if you run the graphs and average out during that
period of time, we're about where we were always going
to be.
Speaker 3 (07:40):
I guess unless you bought in that, if you bought
it the peak, you're probably not that happy that we
are where we are because.
Speaker 5 (07:46):
But the interesting thing is that's true, because that's emotionally
or mentally quite hard to take. But if you're not
selling your property, it doesn't actually matter. It will go
up and down in value. It's like a long term
shareholding in a major company. So yes, it is mentally
emotionally quite challenging. But even if you are selling now,
do you sell your property now and buy another one,
(08:07):
the one that you're buying will have moved in the
same in the same prism as well, so your buying
power stayed the same.
Speaker 3 (08:13):
I like to comment you made when we're having a
chat just before coming on there, you know, talking about
the market's always working, the real estate market, because I
still think that there's this there's a bit of a
media I don't want to I don't want to express
it like this, so I sort of have a caveat
on it. But there's this sort of a obsession with
the big headlines and that you know, the market's not
(08:36):
doing so well or this or that. But you know
you were referring to when what we discussed was that,
you know, the market's working all the time, and sometimes
it's working better for the buyers or in an easier
way for buyers than sellers, and other times there's a
you don't quite have the time as a buyer because
the market started to move. But do you think that
that's one of the problems is that when it comes
(08:57):
to what you read in the news, there's always there's
always an attraction of those headlines to the high per
let's you know, to get people's pulses up, and you
know what I mean. But then again that works for
you guys as well. If you want to get a
bit of energy into the market. There's not nothing like
a bit of a headline saying where you better sort
yourself out pretty quick because it's going to get rocking.
Speaker 5 (09:19):
Well, there's nothing better than people talking about real estate.
And you can't pick on the media for having headlines
that drive clicks on the website because you need clicks
on Well, we.
Speaker 3 (09:27):
Could because I could just say you're look, you just
have to click, rather than telling us how it is.
Speaker 5 (09:33):
Well, you know, I could be mean and say that's
actually what's going on, But the real I wouldn't do that.
Of course, I love my friends in the media, but
the reality is that people talking about property is a
great thing because you go to some barbecues or family functions.
If you didn't talk about real estate, you'd probably talk
about something that could cause a bigger argument than that.
So if you think about it, when the market is
(09:55):
in favor of a seller, when the supply of property
is not enough to meet the demand and people compete,
the seller will feel really great. The buyer will feel
a bit stress when they bought. But a week after
the transaction has been made, it's done. You move on.
The buyers got the property they want and they're really happy.
They've forgotten about the price, and the cellars the same.
Speaker 3 (10:12):
Actually, I get the sense that the one thing that
does feel different to when things have been a bit
more hectic. Is that you know, obviously people get their
finance together, they go and look around for a house
and you know, eventually they make an offer and hopefully
it's accepted or whatever they bidden an auction. But the
feeling I get at the moment, just from an observer
through this show basically is that there's more time available,
(10:36):
at least to buyers. You know, when markets have been bonkers,
it's like you know, when it's when the market's been
going through the roof, there's always been a sense of panic,
like you know, you haven't got time to get a
pre purchase inspection. You just need to get your bidden,
you need to do this. But I feel now people
have at least got a bit more time, which is
I guess what they call that a buy a friendly market?
Speaker 5 (10:55):
Is it well to continue?
Speaker 2 (10:58):
Yeah.
Speaker 5 (10:58):
What I'll say to you is this is that people
talk about the market. There isn't the.
Speaker 3 (11:04):
Market Queen's down and then the rest of us No.
Speaker 2 (11:06):
No, no, no, no no.
Speaker 5 (11:07):
There are a bucket load of different markets in New Zealand,
and sometimes they seem to move in the same at
the same speed, but they don't very often and even
within our biggest cities, there are different markets, and within
different price points, there are different market So sometimes the
high end's going really well and the lower ends not.
Sometimes it's the other way around. But the one thing
(11:30):
that happens, and it can be really really frustrating as
a buyer, is that you'll read all or reports and
all the opinions that the market's a bit quiet, and
you've got time, and you find a property you really
like and the sales consultant dealing with it will say
to you, you need to be quick. There's two or
three other people looking at this, because there's an altruism
that when one person wants a property, three people want it,
(11:50):
and we see it over and over again. So unless
you're a completely unemotional buyer with multiple properties and you
don't mind which one you buy, when you find one
that you like, you have to be prepared to move.
It's at pace. I'm not going to say speed, but
at you need to be ready to make it.
Speaker 3 (12:06):
So you've got to be ready to make a decision. Yeah,
I mean that's because that can that that's always going
to have an element of pressure to it because it's
one thing to be looking around going oh I like that,
or I don't like where the toilet is, I like
the like the bedrooms and all that, and all of
a sudden it's like, Okay, do you want to buy it?
You know? And if you do, then that's the pressure,
isn't it. I think making it any decisions pressure, doesn't it?
Speaker 5 (12:28):
And there will be plenty of people listening, or I
hope someone's listening.
Speaker 2 (12:32):
Want thanks brying.
Speaker 3 (12:36):
I think the way your phone's been buzzing, you've got
a few colleagues.
Speaker 5 (12:40):
Little bit that'll be my mom, you'd be very excited
that I'm on the radio.
Speaker 2 (12:45):
No.
Speaker 5 (12:45):
But when you think about it, one of the things
that makes life really difficult in any sphere is when
you've got too much choice. And I mean, I've been
in the real estate industry a long long time and
I've seen so often people will go out and think
we're going to buy a property, and they go through one,
either at an open home or a sales consult and
takes them to a proper and it meets all of
(13:06):
their criteria and they look at and they can't be
this simple. We better keep looking. We might there might
be a better one. And then they find out there
isn't they go back in the first one is actually sold.
So the preparation that a buyer makes when they enter
the real estate market before they start looking is just critical.
What have they seen in the market or give them indication?
(13:26):
What can they affward? Have they got their finances set up?
Does their legal representative know that they're going to have
a contract for them to check?
Speaker 3 (13:33):
So? What is it? What does a good market look
like for hard courts for you guys? And I want
to almost answer my own question. First, you just want
to see people buying and selling property. You're you're not
worried about it going gang buses on. You just want
to see the energy in the market. I guess would
that be a win for you guys?
Speaker 5 (13:51):
I think if you look at it, whether it's in
the real estate agency business, or whether it's in the
construction business, or what anyone involved with property, you want
to see transaction volumes at a level of equilibrium so
that there is enough property for the buyers and they
are enough buyers for the property, because volume is what
allows a market to continue, and great extremes of price
(14:13):
growth or fall is no good for anyone, no good
for the I mean the banks are making predictions about
what they think could happen to the property market in
the year ahead. They aren't correct, by the way, they
never are. The banks aren't, no, no, no one who
makes the predictions ever correct very often, and I'll explain
that later. So I think volume in the market is
(14:33):
important for everyone, and it's important for the community because
the worst thing in the world is what we've had,
particularly in some parts of Auckland and indeed in Wellington
over the last three or four years, where things have
been at very low volume. So you see people who
who've had a new baby, so they need a bigger
house and they hold off because they I don't know
if that has the right time to buy or not,
or interest rates are a bit high, sole the whole
(14:56):
community gets stuck, whereas it's better if it's actually just
moving on and people are getting on with their lives.
Speaker 3 (15:01):
So okay, in terms of volumes, would do you anticipate
that we are going to see because we had the
headlines last year was first home buys rocking and rolling.
What do you see is going to happen in terms
of volume compared to last year? And you know, what
are the numbers to compare things with.
Speaker 5 (15:21):
So the best predictor of future behavior is past behavior
in the same context. So it's not based on someone's opinion,
it's based on what actually happened in the market in
the past. So if you if you look at the
Auckland and Wellington market for an example, where it's been
really quite volume wise the last three or four years
since interest rates went high. Everyone knows why the market
(15:43):
slowed down. It's been running at historically unsustainable levels at
sales for the community, so that the actually that's the
number of houses, the number of the number of sales.
So what we are seeing in the Auckland market, for example,
we are seeing volume increasing. It's still not at the
level it historically you would expect it to be, but
(16:04):
it is increasing in getting better and there's more buyer activity.
And that's happening all around New Zealand. I mean you
mentioned Queenstown before. Queenstown's a place and Wanaka and places
like that are high profile and there's demand for property
in those markets. But all around New Zealand we're seeing
an increase in activity, not going mental, but an increase
in activity as we move back to more historically sustainable levels.
(16:26):
Of sales, and that's what I believe is going to
continue as we move through twenty twenty six.
Speaker 3 (16:30):
So that's really the key. It's what a healthy market's
simply about, getting an increased number of sales, getting more activity. Correct,
that might not necessarily mean that we're going to see
huge price growth. I mean, in fact, you almost I'm
almost guessing you don't really want to see massive price growth.
You simply want to see market conditions where everyone wants
(16:54):
to play ball. This is the time it's time to sell.
We're not going to you know, we're not holding off
for a twenty percent gain in the next two earth
a couple of years.
Speaker 5 (17:01):
I don't think anyone's predicting that we're going to see that,
but I think, I mean that is a ridiculous. Positive
increase in price at a sustainable level is important because
one of the challenges that has been in the market,
of course, is that the cost of construction. You build
a new property, if you can't sell it for a
margin above that, then all of a sudden, the construction
(17:21):
slows down. And that's no good for anyone either, because
infrastructure shrinks. So I think positive price growth is expected
in the air head. And the reason for that is
goes back to what I said before about the best
judgment of what's going to happen in the futures what
happened in the past is that we're going to see
some growth in the market because we've been through a
period where it's been pretty difficult for a lot of people.
So we are going to see some price growth, but
(17:42):
it's certainly not going to be the getting away like
a galloping horse with the rains drop.
Speaker 3 (17:46):
So what do you I love some good analogies or metaphors?
Should I say? Okay? So the A and z's forecast
was originally was apparently five percent. They say it's looking
unrealistic and now they're looking at a two percent rise.
I know, as you know in your position, you don't
want to mean making predictions and having them thrown back
(18:06):
in your face because you know you're the head of
you're the managing directory hard courts. But which do you
think is? Do you think the A N Z is
more onto it now than they were? Do you think
two and three percent is sort of what we're going
to end up with? What do you reckon? I know
you must hate these questions, but you're on air.
Speaker 5 (18:22):
No, no, I love them, my love Oh good, good, good,
good good. I love talking real estate. But I'd say
most people say I just like talking full stop, and
that's probably not a great thing.
Speaker 3 (18:31):
Well, in the context of the show, it's excellent.
Speaker 5 (18:34):
So what I'm going to say is not picking on
individual people. Yeah, it's it's what I believe two or
five percent they're talking in the margin of error. It
doesn't matter. The bank doesn't actually care. The bank looks
at you when you go in to buy your new property.
They look at how much equity you've got to put in,
They look at what they say the property is worth
(18:54):
at the moment. They look at how much you can
serve uce and they tell you, yip, go ahead, And
that's what they do. So they come up with all
these predictions. It's not relevant in the market. And unless
you're unless you're a punter. And when I say a punter,
you're going to buy. You look at a property now
and think we're going to sell it in the year's
time and make a profit. That's great. That's tossing the coin.
(19:15):
That's like playing blackjack.
Speaker 2 (19:16):
Good on.
Speaker 5 (19:17):
You take a risk, it goes up, it it doesn't.
You got to live with your decision. So I actually
think that the predictions of what's going to happen in
the prices from the economist is not relevant. In fact,
we had a very high profile economist not that many
years ago, a guy who likes being in the media,
who said he was going to rent because it was
better to rent. Buying was not a great thing to do,
(19:38):
and over the next two years prices went up fifteen
to twenty twenty five percent, and he didn't come back
and apologize to all the people who followed his advice.
Speaker 2 (19:45):
So you've got to be really careful you listened.
Speaker 3 (19:47):
To Okay, although I did like the fact that you
said that the bank economists ultimately they don't care, which
is in a way.
Speaker 2 (19:55):
That's probably a bit right.
Speaker 3 (19:57):
Although no, no, no, I don't mean I didn't take
you as being that. What I meant was they are disinterested,
and so it's interesting when a party is it's interested
what they think is going to happen, as opposed to
someone who's vested interest is in talking things up or down.
Speaker 5 (20:11):
No, you see, if you look at the bank, they've
got a lot of funds invested in the property market,
so they're doing all these numbers in the background saying
are our client's going to be able to be okay
in the future, But they're not in the market for
one of it.
Speaker 2 (20:23):
They're not buying and selling okay.
Speaker 3 (20:26):
So give us a number, I'll tell you what. We'll
sit on that for a second because you can give
us trouble. We want your calls on this as well.
I would love your participation. On eight hundred and eighty
ten eighty. So the A and Z's downgraded its forecast
for property prices this year. They said their previous forecast
of five percent is unrealistic because the ocr but might
(20:48):
be making our turn and market prices are already falling.
So now they're saying about two percent. What's your reckon
and you know, looking even beyond this year. But eight
hundred eighty eighty text nine two nine to My guest
is Brian Thompson, he's managing director at Hark. What's New
Zealand will be back in a moment. News Talk said,
be this is the one roof Raidy your show. My
guests Brian Thompson, he's managing director at Hard Courts. You're
(21:11):
I mean, we're trying to avoid doing just the general Hey,
what do you reckon is going to happen with the
real estate market this year? I think we'd be fairly
safe brand and saying that we're going to see an
increase in business, aren't we, and by sellers and buyers
getting together, in number of sales. Basically, let me just
turn on your microphone. There we go.
Speaker 2 (21:30):
Come back.
Speaker 5 (21:31):
Yeah, I would agree with your tourment, and I don't
want to be accused of being the real estate agent
talk in the market up, because that's not what I'm doing.
We are seeing an increase in volume of sales in
the markets that have been most challenged over the last
three or four years. And when I say most challenge,
it's been really difficult for everyone involved. So we're going
to see an increase in the number of sales, and
we are going to see a positive growth in the price.
(21:55):
Now I'm not saying it's I'm not going to get
involved in percentages or anything else, and it's not going
to be a lighter skyrocket under your evaluation we go
through the roof, but there is going to be a positive,
positive movement and number of sales and price, which I
think will be really good for everyone involved in the business.
And I also think that as the market is starting
to gather some space, some pace through the first half
(22:15):
of the year, people who've maybe been hanging back about
making decisions either to sell or buy, I'd get underway
in the first half of the year. And the reason
I'll say that is I mentioned earlier on that there's
too much noise, distracting noise in the market that stops
people making decisions. And we know we've got an election
on November seventh, and there it's.
Speaker 3 (22:35):
Going to be a long year. Oh well, I mean
we started already anyway.
Speaker 5 (22:41):
This is just you and me talking with a couple
of our closest friends over a barbecue. But the reality
is there's going to be a whole lot of stuff
put in the marketplace about we'll do this and we'll
do that, from all sides of the political spectrum, and
people will get confused and hesitate. So i'd get yourself
set up beforehand, because it's it's not really relevant.
Speaker 3 (22:58):
That's the problem with politics as well, isn't it. I mean,
wouldn't you rather politicians just sort of we didn't have
any announcement about what we're doing with property, just let
the market just let things carry on. It feels like
there's been there's a very close to the surface urge
to meddle. Do you feel that from the politicians? And
are you worried about what we're going to get from
(23:21):
you know, you're gonna.
Speaker 5 (23:23):
Have to say something like you feel yourself getting in trouble?
Speaker 3 (23:27):
Okay, I reckon that they make a bloody hash of
it because we've got people threatening I don't funny enough.
I don't think the capital gains tax is the thing
that we should worry about. I'm been more worried about
transaction taxes and other things that might be I don't
know what do you I don't know what My question was.
Are politicians buggering it up?
Speaker 2 (23:49):
Here? We go?
Speaker 6 (23:49):
Right?
Speaker 5 (23:50):
This is what I think. This is what I think.
When you're running a company, you employ people, you incentivize
the results that you want, and that's what everyone should do.
The unfortunate thing in the political spectrum is is that
there's a whole lot of really really great people go
in there and they have the right aims at heart,
and they want to do the best thing. And I'm
talking right across all of the party's the vast majority
(24:10):
there for the right reasons they want to do great things.
The problem is the incentive this year is to get
re elected, because if you don't get re elected, you
haven't got a job and you can't do the good things.
And it fights with what with what you do. If
you had a job and it was being in a way,
you go do this and the result in five years
will be great. Every three years they've got to win
their job back again. And I think that confuses the
(24:34):
messages in the marketplace.
Speaker 3 (24:36):
So what is the Okay, I thought there was a
really good question you asked us, what is the You know,
you incentivize the results you want. What result should politicians want?
I would have thought that you want people to be
able to have affordable houses. You want the market to
(24:56):
be You want the market to be flourishing in terms of,
you know, not making the barriers to getting in ownership
and borrowing and all that. You want to make that
accessible safe so people aren't over committing. But the problem
is you've got this idea that we need to take
money from one side and redistribute somewhere else in wealth
taxes and all that sort of stuff, which I think
is problematic. But what result as a politician. If you're
(25:19):
a politician, what result would you be looking for for
the property market.
Speaker 5 (25:23):
So my view is that we're looking for leadership from
our political leaders, and in the modern environment we live in,
the only way that you can show leadership to the
whole country is through the media. So the people who
stand up, whether it be on the television or through
digital means, or on your show, which has the highest
(25:43):
listenership in the world from what I understand, and is
chasing that morning show down really quickly. So we want
people who can communicate with us and give us confidence
that they are on the right track and that they've
got our backs and that we can trust them. Because
if the community feels that way, all of the rest
of it's sorted out by the community. The business people
(26:04):
have got confidence, they will drive their businesses forward, they
will invest, they will provide more jobs for people, they
will be able to have bigger incentives to their people
who work for them, right from the newest person to
the person who's been there forty five years. So the
job of a political leader is to give the community
confidence from one from right at the lowest level to
(26:24):
where there are big challenges, right to the wealthiest people
in the country. Give us confidence and we'll get out
and sort the economy. At that's all they need to do.
It's when things are uncertain we get mixed messages. That's
what ruins it. So that'd be my message to the politicians.
Stand up on your hind legs, tell us what you're
going to do and make.
Speaker 3 (26:42):
Us trust you, because I think that's probably one of
most peoples, regardless of whether you know, whether you sit
on the left or right, when there are policies that
come out that undermine people's confidence and where they're making
a massive and I mean to everyone, whether you're loaded
or whether you're a first home buyer, your property is
a major investment and if you do anything to undermine
people's confidence in that, that's where we've got a problem,
(27:04):
isn't it.
Speaker 5 (27:05):
The one hundred percent true? And if you look at
the moment I've been across in Australia for the last
three or four days that on business, we've been in
Queensland and if you drive through Brisbane at the moment
you go to the Gold Coast, it's like you're in
a theme park. It is unbelievable. There are cranes everywhere.
The infrastructure investment getting ready to host the Olympics is
(27:26):
just phenomenal and their economy is just flying. The migration
in the Queen's that at the moment is unbelievable. And
people would say hosting the Olympics, how crazy are you?
Will cost your billions of dollars. Well, you go to
Queensland and ask the queensland Is how they feel about that.
At the moment, it's a confidence.
Speaker 3 (27:41):
It would be full on, wouldn't it? Okay? Somebody said,
I've got a few texts here to get to. If
markets have been stuck, is built up demand still there?
What happens to that demand if you market gets.
Speaker 5 (27:51):
Slows down, one hundred percent of the demand still there.
It's a matter of people having the confidence to actually
push the button and make decisions. And that's what's happening
at the moment. We're seeing them coming forward. There's nothing
worse than being a human beings who knows they want
to make a decision in your hold back because you
haven't got the confidence. So the demand is sitting there
and it's starting to activate, and that's why we're seeing
an increase in inquiry and increase in people that open
(28:14):
homes and also an increase in the number of transactions.
Speaker 3 (28:17):
Okay, here's another one from Gerard. Do we have a
housing crisis in New Zealand? No one thinks we do
besides politicians. What does your guest think?
Speaker 5 (28:25):
Yeah, so I think that that isn't a sweeping question.
I think that's a personal question to each individual because
I don't have a house in crisis at the moment,
but I tell you what, There'll be people living within
five hundred meters where I live who don't know where
they're going to be sleeping tonight. So I think that
it's a personal question for each individual across the country.
(28:46):
I think that at the social housing level, and that's
certainly not something I'm an expert on, but that area
does concern me a bit because people who need a
hand to have safe places for their families. I'm not
sure we've got that right, but I know there's a
lot of work being done right.
Speaker 3 (29:01):
It's interesting just before you out of the break because
the Chris Bishop, he's right into getting the number of
affordable brings us up. And it's interesting because he sounds
like a politician, sort of almost of the left persuasion
when he talks about social housing and getting affordability, but
I mean he's are you even in a way surprised
(29:22):
that the way things have gone under his sort of
leadership on the housing thing. I don't mean a bad way,
by the way. I'm just saying it's interesting how passionate
he is about making housing affordable for a new elder.
Speaker 5 (29:33):
See, he's a classic case. I actually think there are
great people in every political party. Now, I've got a
persuasion one way. You might have one the other way.
It doesn't matter what it is. But he's just doing
what a decent human being will do who's in a
leadership position trying to fix a problem, because they always
say the best way to fix a problem is to
find a common sense solution, act on it so that
(29:53):
the people feel it. And that's exactly what he's doing.
So it doesn't matter what bad he wears. I mean
he wears the badgie does at the moment. A lot
of people will support him. But he's not making those
calls because it suits his side of the political spectrum.
He's doing that because that's his job.
Speaker 3 (30:08):
Okay, hey, look we'd love your calls if you like.
He give us a call on eight hundred eighty and eighty.
I'm with Brian Thompson. We were talking about the year
ahead also, Well, it's tinged with that the notion that
the ocr actually may be there might be some moves
by the Reserve Bank to turn it around a bit
because inflation is not quite we're not quite on top
(30:29):
of inflation as much as we thought we were. What
do you reckon it's going to mean for the property market. Oh,
eight hundred and eighty, ten eighty, it's twenty to five
news talks. He'd be his talksaid b I'm with Brian Thompson.
He's the managing director at Hardcourts. You're well, the simple
question is what's the property market going to look like
this year? A n Z's downgraded its growth predictions from
(30:50):
five percent to two percent. Sam, good ay, good things.
Speaker 6 (30:56):
You were talking. What do you think of market? Yeah, well,
I think I think what obments need to do is
they actually need to create more stability around the o
CR relatives for the housing. Housing market becaus warness, and
when the instability is like it is and it goes
(31:18):
up and down, let me tell you it doesn't create
the little bird stone buyers They're all a confidence issue
with the current property owners and larger property owners do
were ones that are wanting to grow even further. I
think they need to do that. We don't really want
(31:41):
property writers to go down because that's never going to
help any one of them people that haven't bought houses,
and when you've got and when you buy house, you
wanted to go up anyway. So I think there needs
to be some type of control with the o CR
relative to lending because in a mare, I've lived in
the America. You can fix in America for twenty to
(32:04):
thirty years, and I know they say they can't do
that here, but they need they need to have more
stability around that because of the end of that is
our biggest has help. I would consider myself my own
close to twenty twenty odd investment commercial and commercial and residential,
(32:26):
and I need myself to look at it when the
o C changes, thinking, well, that goes up two percent,
that's going to that's that that affects the amount of
money I spend as well in society and society. So
if they do that, that will definitely help the economy
and get things going again as well. But at the moment,
(32:48):
there's too much insability everywhere and it's and they do
need to stake more control of that.
Speaker 3 (32:55):
So you're talking about having there, but it's not so
much what happens with the o C, you know, with
the Reserve Bank. It's more what banks offer in terms
of longevity and can assistency. Is that what you're talking about, Yeah.
Speaker 6 (33:07):
There needs to be more certainty around that. If you can,
if you can fix your mortgage for even say ten years,
that gives buyers more confidence if this is what I'm
going to be dealing with for the next foreseeable future.
It allows you to plan, It allows you to plan
(33:27):
around it. But when you've got to fix every twelve months,
it goes up and now like at Yo Yo makes
it really really really hard. Now me myself, I'm okay,
but I know people that it's like they're talking about
it now, like cheaper is when I refix in the
next six months, I might be paying another three or
(33:48):
four hundred bucks a month and in and that affects
certain people. You know.
Speaker 3 (33:53):
If you're already right on there, yeah, that's instant unsad
you what do you reckon?
Speaker 5 (33:58):
It's interesting saying that the American situation is really clear.
But there their structure around their mortgages and how they're
actually applied to property are very different. So we don't
have the ability to have that level of level of
certainty here. But I think I'm not going to give
advice to the Reserve Bank Governor about the ocr because
I'm not qualified. But there has been a lot of
(34:20):
talk for the last three, four or five years that
it's a really blunt instrument. It's the only instrument they've
got to control inflation. So if they could sort that out,
that would be way better. Because nobody likes volatility because
when there's volatility, human beings are heard, animals, one person
stops acting, everyone stops acting. So I think some less
volatility would be would be great. And in saying that,
(34:42):
in the world we live in at the moment, that
seems like a pretty big wish.
Speaker 3 (34:46):
Yeah, thanks Sam, I appreciate your call mate.
Speaker 6 (34:48):
Is he going to just said one thing?
Speaker 4 (34:50):
Yep?
Speaker 6 (34:51):
Is he going to put a hand up to PM that.
Speaker 2 (34:56):
I like you? Sam? Thank you?
Speaker 3 (34:59):
Actually, funny thing is have you ever thought about politics?
Speaker 6 (35:01):
No?
Speaker 3 (35:03):
Actually, why don't we we have Well there's two questions. One,
why don't we have the really long term of mortgages
you can get in the States. But two, would the
New Zealand public be interested in that genuinely?
Speaker 5 (35:15):
Because so here's a fact I can quote fact here.
Just back when mortgages were really cheap, back just after COVID,
when it was almost free, there was a five year
rate offered at the B and Z Bank of New
Zealand at two point nine to nine percent. Tony Alexander
came out, one of New Zealand's most respected independent economic commentators,
(35:36):
and he said, anyone who doesn't take that rate now
is mad. And I went to the bank. My wife
and I we agreed that we should take that rate.
And when I went to the bank, I could not
sign the document because I worked out how old I
would be in five years time, and I thought that's
too long. And we locked it for two And that decision,
my decision, cost my wife and I quite substantial money,
(35:58):
because people don't like being locked in.
Speaker 2 (36:01):
They just that's the thing.
Speaker 3 (36:02):
It's you'd need it, you need a cultural shift to go.
Speaker 5 (36:04):
So we've just been through it again when the rate
was four point nine to nine percent for five years.
He said the same thing about three months ago. Nobody
took it and now that rates at five point three,
but you can still get two year money at about
four and a half. That's where people are going. It's
just a it's just the human psychology. I don't think
many keywers would take a thirty year mortgage.
Speaker 3 (36:23):
Now, Okay, John cod I.
Speaker 4 (36:26):
Hi, Hey, it's just commenting on both the other guy
about the ocr I've got a really different perspective. I
own one house, and I have this view that houses
are for living in, and honestly, if my property price
dropped by forty percent, I'd celebrate because then my kids
could afford a house.
Speaker 3 (36:43):
That's very altruistical with John, and there'd probably be quite
a few parents who might actually sort of relate to that.
Speaker 4 (36:48):
What do you reckon, Brian, because you know that's where
I sit.
Speaker 5 (36:52):
Yeah, And I think that's a really really valued, valid
point of view John. I don't subscribe to it, by
the way, but it's a valid point of view because
it matches what I said earlier on about people talking
about is the house price going to go up five
or two percent? It's irrelevant. You're living in your house.
It doesn't change. It's still your house, and you're still
still living in it. The challenge if you have a
really constricted property market, and if it did drop by
(37:14):
that level, it would hurt a whole lot of investors
who are actually the people who provide the vast majority
of the rental property for people who either choose to
rent or have to rent because they can't buy at
the moment. So it's one of those double edged swords.
They always say, there's a neat Every action has an
equal and opposite reaction. So while for you it would
fit and you would say it could could get be
(37:37):
easy for first home buyers to get in, I think
it would mean that there was a real structural problem
in our economy and things would be really, really dire.
Speaker 3 (37:44):
Okay, we need to take a break. We've got the
one roof property of the week is quite a doozy.
We'll get We've got the man to make the right
description of it for us in the studio with us
now Brian Thompson from Hardcourts. But one roof Property of
the week is next.
Speaker 1 (37:57):
It's ten to five, the one roof property of the
week on the weekend collective.
Speaker 3 (38:03):
Yes, welcome back. And as I said, my guest is
Brian Thompson. He's a managing director at hard Courts and
we'll get his take on this property. I'll give you
quickly the address if you happen to be near your
computer or your phone or whatever. Thirty nine Glenmore Road,
Coatsville in Rodney. It says price by negotiation. I'll give
the price in just a moment. But I love first
(38:25):
impressions and as soon as you look at this one
looks like half of it's for entertaining. They've got something
that looks like it's either a pool or a pond
or whatever, massive outdoor entertaining. But the fun part is
is that you scroll. There's a tennis court there, beautiful deck.
As I say, there's this I can't work out of
its pool or a pond because I didn't read it
(38:46):
too closely. And there's an equestrian training paddock. There's a
home gym which looks like it's probably something you could
sell subscriptions for. It's quite spectacular and funnily enough, the
bedrooms themselves are more sort of functional. But what's your
take on it, Brian.
Speaker 5 (39:03):
It's a magnificent property. It's just magnificent if you look
at the size of the home and if you read
the accommodation options.
Speaker 2 (39:09):
It's set up.
Speaker 5 (39:10):
You could have multi generational living there. You'd have put
your kids out in the sleepout and maybe your parents
in the different flat. The tennis court is beautiful, it's
floodlet if you if you're into horses, you've got an
equestrian arena. I mean, I'd rather pake myself.
Speaker 3 (39:26):
It's for horsey people.
Speaker 5 (39:29):
Location Coachville, isn't I mean, I'd rather have a fork
in my eye then they have to look after a horse.
Speaker 2 (39:33):
That's not my thing.
Speaker 5 (39:34):
But if you're into horses, that would be a great
place to be. It's a magnificent property, and the great
thing about it is it's in a location where the
property style and quality fits the location. So anyone who's
looking in that area for that type of property should
get on the job.
Speaker 2 (39:49):
I would think it's actually what's the.
Speaker 3 (39:52):
Thing that stood out to me? I guess maybe I
like the idea of one day having a really amazing
entertainment area, you know, with and it does seem that
there's a huge amount of it. On one side.
Speaker 5 (40:03):
Well, you could host weddings, you could have massive family gatherings.
There's multiple outdoor entertaining areas so you can hide from
a breeze if there's one blowing.
Speaker 2 (40:11):
It's beautiful. Eight million, no idea, I know.
Speaker 3 (40:14):
I'm just saying we're estimate eight and a half million,
the lowers eight and this is the one roof for mestmate.
Speaker 5 (40:20):
So let's get it on a contracts here you go, Tim,
that would suit you and your family, it'd be great.
Speaker 2 (40:23):
I contract.
Speaker 5 (40:26):
Well, well, I left to ring the agent see if
she'll work in with me.
Speaker 3 (40:29):
They need a change of contract here as well for
that one. Anyway. So anyway, so what's up with you
for the next week with hardcourts and everything.
Speaker 5 (40:36):
Oh, we're going into our summer season of events. So
we have a series of events called ig Night coming
up soon where we do some educational work with some
speakers for our salespeople and if you get them all
underway for peak selling season, which we're in right now.
March is always the biggest month of the year for sales,
so our guys are really really busy, so we're doing
(40:57):
everything we can to support them with great quality information
and positive messages. It's going to be a great year.
Speaker 2 (41:03):
Looking forward to it, excellent.
Speaker 3 (41:04):
Well, we look for good to having you back. On
the show. Thanks so mu much for joining us. And
yeah it's too late for happen New Year, isn't it.
Speaker 2 (41:10):
That's gone.
Speaker 3 (41:11):
Yeah, that's gone anyway. Hey, thanks that as Brian Thompson
from The Hard Courts. We'll be back with the parents
quite next How involved should you be with your child's education?
A lot of parents ask on themselves that question as
they could start school where he get ready for exams
next year.
Speaker 1 (41:27):
For more from the Weekend Collective, listen live to news
Talks It'd be weekends from three pm, or follow the
podcast on iHeartRadio.
You're listening to the Weekend Collective podcast from News Talks
b Jensation.
Speaker 2 (00:35):
Obligations.
Speaker 3 (00:37):
You never kept the same address, and I was gonna
say anyway because I was in the middle of a
conversation off here. Just then, Hi, welcome back to the
Weekend Collective. I'mton Beverage. If you have just joined us,
that were the panel, and if you miss any of
the hours after six o'clock, then you can go and
check it out online. Just go to the iHeartRadio or
News Talk. But right now it's time for the one
(00:59):
roof radio show radio show where we talk all things property,
not all at once, of course, we uhould talk one
or two things property is each each hour. But we
want your participation. We want you to join in and
give us a reckons on eight hundred eighty ten eighty.
We can text on nine two nine two, but don't
forget if you want to jump that queue of the
text and then eight hundred eighty ten eighty is the number.
Speaker 4 (01:21):
Now.
Speaker 3 (01:22):
New Zealand's biggest bank, A and Z, has downgraded its
forecast for property prices this year. They said their previous
forecast of five percent it's looking unrealistic. Is the ocr
the dreaded cash rate looks to be making a turn
soon because there is a bit of pressure on the
reserve bank. They talk, they're saying that maybe the cash
(01:42):
rate might pop up a bit, and market prices are
already falling, so now they're saying, maybe it's only going
to be a two percent rise in the market. Economists,
you know, I mean, everyone's got a prediction, haven't they.
Economists laying out their predictions for when we'll see that
cash rate make that turn. Some say it won't be
until twenty twenty seven, others predicting a rise in the
(02:03):
second half of this year. I've seen earlier in that. Anyway,
what are your predictions? But also what does it mean
for the property market? And you know, as we know,
there used to be the thing, oh the property market
doubles every eight or ten years. I think we've for
the time being, we're putting that to one side. I've
heard other predictions saying change that eight or ten years
to twenty five thirty years. Anyway, we want to know
(02:25):
what you reckon on eight hundred and eighty ten eighty
or text nine two niney two, And to discuss it, well,
we bring in the big guns for this stuff here.
He's managing director director at Harcourt's New Zealand. His name
is Brian Thompson and he's he's with us now O today. Brian,
are you going to.
Speaker 2 (02:41):
Be a good term?
Speaker 3 (02:41):
Use things good? Did you have a bit of a
you have a bit of a break. You're looking I
don't know, you look like one of those chaps who
never looks like they're not tanned.
Speaker 5 (02:50):
I'm not kidding you to write with cev No. We
had a great break. We're really lucky.
Speaker 2 (02:53):
This year.
Speaker 5 (02:53):
We got to spend a few days down in christ
Chatch with my mum, who's moved down there for some
into a key home, and my sisters and it was magnificent.
A it windy, but it was so warm and it
was beautiful. And then we flew back up here and
went to the beach and we had first couple of
days it was windy and not very warm, and I thought,
here we go again. And then the weather changed and
the sea was flat, calm, and it was hot and
(03:15):
there were fish everywhere, and the golf course was beautiful.
The golf was terrible, of course, beautiful day. I'm really
really lucky, really lucky. We had a great break.
Speaker 3 (03:23):
How many days, how many days fine weather do you
need when you're at the beach, because I don't know
if I think you just need some, don't you You
just need too You need to have a couple two
or three mornings where you wake up and you go.
Speaker 5 (03:37):
You at least need some, that's right. The last few
years Christmas at the beach hasn't been a lot of
fun for most of New Zealand. And while there's been
some you know, some tragedies and that's recently close to
beaches which is really heartbreaking, but over the Christmas New
Year break, we were very very fortuate.
Speaker 3 (03:52):
Yeah, well I mentioned it before the panel had a
few days with just the week it's just gone where
we had some beautiful weather and one of them was
out to goat Island and it's funny, we haven't had
a beach holiday this year and we don't usually, but
just going there for a day, you know, sticking on
the wet suit and snorkeling for two or three hours
(04:12):
and it was just glorious and the people, you know,
people are out in force. Eventually, you know, it was
one of that was coming off the bad weather period
and gosh, it's something about just being at the beach
for a day or two.
Speaker 2 (04:25):
Yeah, seawater makes your life better.
Speaker 3 (04:27):
Yeah, which leads us to I could actually just let's
talk about coastal property. Let's not do that. Hey, So, okay,
you're you're the You're the head chrangue at Hardcourts.
Speaker 2 (04:40):
I'm just Brian.
Speaker 5 (04:41):
But I've got a fancy title, has that I'm just Brian.
Speaker 3 (04:44):
That's not the first time you've said that.
Speaker 2 (04:46):
Well, that's the fact.
Speaker 3 (04:47):
Yeah, okay, okay, so well, managing director is the fancy title.
But anyway, what's you know? Actually, by the way, when
do you guys get sort of you would have been
back into it. The real estate agents be keeping.
Speaker 2 (05:00):
A lot of our people work through.
Speaker 5 (05:01):
I have to say people, you know, when people looking
buy and sell property, you need to beailable. So while
everyone tries to structure the day and get a break.
Now there's a lot of the team work through and
are back pretty early. And there was a you know
that it depends when Christmas Day falls, what day of
the week it is. But but you know, summer's busy.
Speaker 3 (05:18):
No rest for the wicked, all the good. You had
to say that that's just an expression, by the way,
not a comment on the real Hey, so what what
what are your thoughts about the year, because there is
there's some mixed the mixed headlines between the i K
last year was a bit slow and maybe we're going
to see a bit more energy. But then we hear
that there might be a change in approach to the
(05:39):
o CR, which means borrowing is going to be more expensive.
We're not sure what's going on, you know with I
don't know how international politics impacts on this. But what
do you see for the market this year?
Speaker 5 (05:49):
Yeah, so there's a great old saying that opinions like noses.
Everyone's got one, but you don't necessarily have to share them.
Speaker 3 (05:56):
Not sure that's the.
Speaker 2 (05:57):
Butch I'm thinking.
Speaker 5 (05:59):
You'm here, so you've asked me for an opinion, and
I will say that when it comes to the real
estate market, whether you're a buyer or a seller or
an observer, there's way too much noise that floats around,
confusing people's heads. It's not actually relevant to the vast
majority of people who are buying and selling property. And
an example of that I would give you is if
(06:20):
you're looking to buy a home right at the moment
for yourself, and that's the biggest part of the market.
You were buying it because your family's got bigger, your
family's got smaller. You want a first home, someone's passed away,
someone's got married. So you look at that house today
or that property today. You get your If you're borrowing money,
you talk to your mortgage advisor or your bank and
they tell you what the rates are. You work out
(06:42):
how much you can borrow it, and you buy your property,
lock your rate in, and a way you go. You
don't worry too much about what it's going to be
down the track six months, twelve months, because you're not
going to be selling it again in six months or
twelve months. You're actually going to be living there for
quite some time. So I think people like to talk
about what the rates might do, like to talk about
what the market might do. But there's a far simple
(07:04):
way of working that out than listening to opinions from
people who are actually not in the market buying or selling.
Because if you look over time, there will be periods
when there will be periods when the market is really
really busy, and there we be periods when the market's quieter.
But over time, it all works itself out. The best
example I can give you people talk about the post
COVID boom and property prices when they went through the
(07:26):
roof because money was almost free, and since interest rates
went up the market has got very quiet. In some
parts of New Zealand, there's been some price shrinkage. But
if you run the graphs and average out during that
period of time, we're about where we were always going
to be.
Speaker 3 (07:40):
I guess unless you bought in that, if you bought
it the peak, you're probably not that happy that we
are where we are because.
Speaker 5 (07:46):
But the interesting thing is that's true, because that's emotionally
or mentally quite hard to take. But if you're not
selling your property, it doesn't actually matter. It will go
up and down in value. It's like a long term
shareholding in a major company. So yes, it is mentally
emotionally quite challenging. But even if you are selling now,
do you sell your property now and buy another one,
(08:07):
the one that you're buying will have moved in the
same in the same prism as well, so your buying
power stayed the same.
Speaker 3 (08:13):
I like to comment you made when we're having a
chat just before coming on there, you know, talking about
the market's always working, the real estate market, because I
still think that there's this there's a bit of a
media I don't want to I don't want to express
it like this, so I sort of have a caveat
on it. But there's this sort of a obsession with
the big headlines and that you know, the market's not
(08:36):
doing so well or this or that. But you know
you were referring to when what we discussed was that,
you know, the market's working all the time, and sometimes
it's working better for the buyers or in an easier
way for buyers than sellers, and other times there's a
you don't quite have the time as a buyer because
the market started to move. But do you think that
that's one of the problems is that when it comes
(08:57):
to what you read in the news, there's always there's
always an attraction of those headlines to the high per
let's you know, to get people's pulses up, and you
know what I mean. But then again that works for
you guys as well. If you want to get a
bit of energy into the market. There's not nothing like
a bit of a headline saying where you better sort
yourself out pretty quick because it's going to get rocking.
Speaker 5 (09:19):
Well, there's nothing better than people talking about real estate.
And you can't pick on the media for having headlines
that drive clicks on the website because you need clicks
on Well, we.
Speaker 3 (09:27):
Could because I could just say you're look, you just
have to click, rather than telling us how it is.
Speaker 5 (09:33):
Well, you know, I could be mean and say that's
actually what's going on, But the real I wouldn't do that.
Of course, I love my friends in the media, but
the reality is that people talking about property is a
great thing because you go to some barbecues or family functions.
If you didn't talk about real estate, you'd probably talk
about something that could cause a bigger argument than that.
So if you think about it, when the market is
(09:55):
in favor of a seller, when the supply of property
is not enough to meet the demand and people compete,
the seller will feel really great. The buyer will feel
a bit stress when they bought. But a week after
the transaction has been made, it's done. You move on.
The buyers got the property they want and they're really happy.
They've forgotten about the price, and the cellars the same.
Speaker 3 (10:12):
Actually, I get the sense that the one thing that
does feel different to when things have been a bit
more hectic. Is that you know, obviously people get their
finance together, they go and look around for a house
and you know, eventually they make an offer and hopefully
it's accepted or whatever they bidden an auction. But the
feeling I get at the moment, just from an observer
through this show basically is that there's more time available,
(10:36):
at least to buyers. You know, when markets have been bonkers,
it's like you know, when it's when the market's been
going through the roof, there's always been a sense of panic,
like you know, you haven't got time to get a
pre purchase inspection. You just need to get your bidden,
you need to do this. But I feel now people
have at least got a bit more time, which is
I guess what they call that a buy a friendly market?
Speaker 5 (10:55):
Is it well to continue?
Speaker 2 (10:58):
Yeah.
Speaker 5 (10:58):
What I'll say to you is this is that people
talk about the market. There isn't the.
Speaker 3 (11:04):
Market Queen's down and then the rest of us No.
Speaker 2 (11:06):
No, no, no, no no.
Speaker 5 (11:07):
There are a bucket load of different markets in New Zealand,
and sometimes they seem to move in the same at
the same speed, but they don't very often and even
within our biggest cities, there are different markets, and within
different price points, there are different market So sometimes the
high end's going really well and the lower ends not.
Sometimes it's the other way around. But the one thing
(11:30):
that happens, and it can be really really frustrating as
a buyer, is that you'll read all or reports and
all the opinions that the market's a bit quiet, and
you've got time, and you find a property you really
like and the sales consultant dealing with it will say
to you, you need to be quick. There's two or
three other people looking at this, because there's an altruism
that when one person wants a property, three people want it,
(11:50):
and we see it over and over again. So unless
you're a completely unemotional buyer with multiple properties and you
don't mind which one you buy, when you find one
that you like, you have to be prepared to move.
It's at pace. I'm not going to say speed, but
at you need to be ready to make it.
Speaker 3 (12:06):
So you've got to be ready to make a decision. Yeah,
I mean that's because that can that that's always going
to have an element of pressure to it because it's
one thing to be looking around going oh I like that,
or I don't like where the toilet is, I like
the like the bedrooms and all that, and all of
a sudden it's like, Okay, do you want to buy it?
You know? And if you do, then that's the pressure,
isn't it. I think making it any decisions pressure, doesn't it?
Speaker 5 (12:28):
And there will be plenty of people listening, or I
hope someone's listening.
Speaker 2 (12:32):
Want thanks brying.
Speaker 3 (12:36):
I think the way your phone's been buzzing, you've got
a few colleagues.
Speaker 5 (12:40):
Little bit that'll be my mom, you'd be very excited
that I'm on the radio.
Speaker 2 (12:45):
No.
Speaker 5 (12:45):
But when you think about it, one of the things
that makes life really difficult in any sphere is when
you've got too much choice. And I mean, I've been
in the real estate industry a long long time and
I've seen so often people will go out and think
we're going to buy a property, and they go through one,
either at an open home or a sales consult and
takes them to a proper and it meets all of
(13:06):
their criteria and they look at and they can't be
this simple. We better keep looking. We might there might
be a better one. And then they find out there
isn't they go back in the first one is actually sold.
So the preparation that a buyer makes when they enter
the real estate market before they start looking is just critical.
What have they seen in the market or give them indication?
(13:26):
What can they affward? Have they got their finances set up?
Does their legal representative know that they're going to have
a contract for them to check?
Speaker 3 (13:33):
So? What is it? What does a good market look
like for hard courts for you guys? And I want
to almost answer my own question. First, you just want
to see people buying and selling property. You're you're not
worried about it going gang buses on. You just want
to see the energy in the market. I guess would
that be a win for you guys?
Speaker 5 (13:51):
I think if you look at it, whether it's in
the real estate agency business, or whether it's in the
construction business, or what anyone involved with property, you want
to see transaction volumes at a level of equilibrium so
that there is enough property for the buyers and they
are enough buyers for the property, because volume is what
allows a market to continue, and great extremes of price
(14:13):
growth or fall is no good for anyone, no good
for the I mean the banks are making predictions about
what they think could happen to the property market in
the year ahead. They aren't correct, by the way, they
never are. The banks aren't, no, no, no one who
makes the predictions ever correct very often, and I'll explain
that later. So I think volume in the market is
(14:33):
important for everyone, and it's important for the community because
the worst thing in the world is what we've had,
particularly in some parts of Auckland and indeed in Wellington
over the last three or four years, where things have
been at very low volume. So you see people who
who've had a new baby, so they need a bigger
house and they hold off because they I don't know
if that has the right time to buy or not,
or interest rates are a bit high, sole the whole
(14:56):
community gets stuck, whereas it's better if it's actually just
moving on and people are getting on with their lives.
Speaker 3 (15:01):
So okay, in terms of volumes, would do you anticipate
that we are going to see because we had the
headlines last year was first home buys rocking and rolling.
What do you see is going to happen in terms
of volume compared to last year? And you know, what
are the numbers to compare things with.
Speaker 5 (15:21):
So the best predictor of future behavior is past behavior
in the same context. So it's not based on someone's opinion,
it's based on what actually happened in the market in
the past. So if you if you look at the
Auckland and Wellington market for an example, where it's been
really quite volume wise the last three or four years
since interest rates went high. Everyone knows why the market
(15:43):
slowed down. It's been running at historically unsustainable levels at
sales for the community, so that the actually that's the
number of houses, the number of the number of sales.
So what we are seeing in the Auckland market, for example,
we are seeing volume increasing. It's still not at the
level it historically you would expect it to be, but
(16:04):
it is increasing in getting better and there's more buyer activity.
And that's happening all around New Zealand. I mean you
mentioned Queenstown before. Queenstown's a place and Wanaka and places
like that are high profile and there's demand for property
in those markets. But all around New Zealand we're seeing
an increase in activity, not going mental, but an increase
in activity as we move back to more historically sustainable levels.
(16:26):
Of sales, and that's what I believe is going to
continue as we move through twenty twenty six.
Speaker 3 (16:30):
So that's really the key. It's what a healthy market's
simply about, getting an increased number of sales, getting more activity. Correct,
that might not necessarily mean that we're going to see
huge price growth. I mean, in fact, you almost I'm
almost guessing you don't really want to see massive price growth.
You simply want to see market conditions where everyone wants
(16:54):
to play ball. This is the time it's time to sell.
We're not going to you know, we're not holding off
for a twenty percent gain in the next two earth
a couple of years.
Speaker 5 (17:01):
I don't think anyone's predicting that we're going to see that,
but I think, I mean that is a ridiculous. Positive
increase in price at a sustainable level is important because
one of the challenges that has been in the market,
of course, is that the cost of construction. You build
a new property, if you can't sell it for a
margin above that, then all of a sudden, the construction
(17:21):
slows down. And that's no good for anyone either, because
infrastructure shrinks. So I think positive price growth is expected
in the air head. And the reason for that is
goes back to what I said before about the best
judgment of what's going to happen in the futures what
happened in the past is that we're going to see
some growth in the market because we've been through a
period where it's been pretty difficult for a lot of people.
So we are going to see some price growth, but
(17:42):
it's certainly not going to be the getting away like
a galloping horse with the rains drop.
Speaker 3 (17:46):
So what do you I love some good analogies or metaphors?
Should I say? Okay? So the A and z's forecast
was originally was apparently five percent. They say it's looking
unrealistic and now they're looking at a two percent rise.
I know, as you know in your position, you don't
want to mean making predictions and having them thrown back
(18:06):
in your face because you know you're the head of
you're the managing directory hard courts. But which do you
think is? Do you think the A N Z is
more onto it now than they were? Do you think
two and three percent is sort of what we're going
to end up with? What do you reckon? I know
you must hate these questions, but you're on air.
Speaker 5 (18:22):
No, no, I love them, my love Oh good, good, good,
good good. I love talking real estate. But I'd say
most people say I just like talking full stop, and
that's probably not a great thing.
Speaker 3 (18:31):
Well, in the context of the show, it's excellent.
Speaker 5 (18:34):
So what I'm going to say is not picking on
individual people. Yeah, it's it's what I believe two or
five percent they're talking in the margin of error. It
doesn't matter. The bank doesn't actually care. The bank looks
at you when you go in to buy your new property.
They look at how much equity you've got to put in,
They look at what they say the property is worth
(18:54):
at the moment. They look at how much you can
serve uce and they tell you, yip, go ahead, And
that's what they do. So they come up with all
these predictions. It's not relevant in the market. And unless
you're unless you're a punter. And when I say a punter,
you're going to buy. You look at a property now
and think we're going to sell it in the year's
time and make a profit. That's great. That's tossing the coin.
(19:15):
That's like playing blackjack.
Speaker 2 (19:16):
Good on.
Speaker 5 (19:17):
You take a risk, it goes up, it it doesn't.
You got to live with your decision. So I actually
think that the predictions of what's going to happen in
the prices from the economist is not relevant. In fact,
we had a very high profile economist not that many
years ago, a guy who likes being in the media,
who said he was going to rent because it was
better to rent. Buying was not a great thing to do,
(19:38):
and over the next two years prices went up fifteen
to twenty twenty five percent, and he didn't come back
and apologize to all the people who followed his advice.
Speaker 2 (19:45):
So you've got to be really careful you listened.
Speaker 3 (19:47):
To Okay, although I did like the fact that you
said that the bank economists ultimately they don't care, which
is in a way.
Speaker 2 (19:55):
That's probably a bit right.
Speaker 3 (19:57):
Although no, no, no, I don't mean I didn't take
you as being that. What I meant was they are disinterested,
and so it's interesting when a party is it's interested
what they think is going to happen, as opposed to
someone who's vested interest is in talking things up or down.
Speaker 5 (20:11):
No, you see, if you look at the bank, they've
got a lot of funds invested in the property market,
so they're doing all these numbers in the background saying
are our client's going to be able to be okay
in the future, But they're not in the market for
one of it.
Speaker 2 (20:23):
They're not buying and selling okay.
Speaker 3 (20:26):
So give us a number, I'll tell you what. We'll
sit on that for a second because you can give
us trouble. We want your calls on this as well.
I would love your participation. On eight hundred and eighty
ten eighty. So the A and Z's downgraded its forecast
for property prices this year. They said their previous forecast
of five percent is unrealistic because the ocr but might
(20:48):
be making our turn and market prices are already falling.
So now they're saying about two percent. What's your reckon
and you know, looking even beyond this year. But eight
hundred eighty eighty text nine two nine to My guest
is Brian Thompson, he's managing director at Hark. What's New
Zealand will be back in a moment. News Talk said,
be this is the one roof Raidy your show. My
guests Brian Thompson, he's managing director at Hard Courts. You're
(21:11):
I mean, we're trying to avoid doing just the general Hey,
what do you reckon is going to happen with the
real estate market this year? I think we'd be fairly
safe brand and saying that we're going to see an
increase in business, aren't we, and by sellers and buyers
getting together, in number of sales. Basically, let me just
turn on your microphone. There we go.
Speaker 2 (21:30):
Come back.
Speaker 5 (21:31):
Yeah, I would agree with your tourment, and I don't
want to be accused of being the real estate agent
talk in the market up, because that's not what I'm doing.
We are seeing an increase in volume of sales in
the markets that have been most challenged over the last
three or four years. And when I say most challenge,
it's been really difficult for everyone involved. So we're going
to see an increase in the number of sales, and
we are going to see a positive growth in the price.
(21:55):
Now I'm not saying it's I'm not going to get
involved in percentages or anything else, and it's not going
to be a lighter skyrocket under your evaluation we go
through the roof, but there is going to be a positive,
positive movement and number of sales and price, which I
think will be really good for everyone involved in the business.
And I also think that as the market is starting
to gather some space, some pace through the first half
(22:15):
of the year, people who've maybe been hanging back about
making decisions either to sell or buy, I'd get underway
in the first half of the year. And the reason
I'll say that is I mentioned earlier on that there's
too much noise, distracting noise in the market that stops
people making decisions. And we know we've got an election
on November seventh, and there it's.
Speaker 3 (22:35):
Going to be a long year. Oh well, I mean
we started already anyway.
Speaker 5 (22:41):
This is just you and me talking with a couple
of our closest friends over a barbecue. But the reality
is there's going to be a whole lot of stuff
put in the marketplace about we'll do this and we'll
do that, from all sides of the political spectrum, and
people will get confused and hesitate. So i'd get yourself
set up beforehand, because it's it's not really relevant.
Speaker 3 (22:58):
That's the problem with politics as well, isn't it. I mean,
wouldn't you rather politicians just sort of we didn't have
any announcement about what we're doing with property, just let
the market just let things carry on. It feels like
there's been there's a very close to the surface urge
to meddle. Do you feel that from the politicians? And
are you worried about what we're going to get from
(23:21):
you know, you're gonna.
Speaker 5 (23:23):
Have to say something like you feel yourself getting in trouble?
Speaker 3 (23:27):
Okay, I reckon that they make a bloody hash of
it because we've got people threatening I don't funny enough.
I don't think the capital gains tax is the thing
that we should worry about. I'm been more worried about
transaction taxes and other things that might be I don't
know what do you I don't know what My question was.
Are politicians buggering it up?
Speaker 2 (23:49):
Here? We go?
Speaker 6 (23:49):
Right?
Speaker 5 (23:50):
This is what I think. This is what I think.
When you're running a company, you employ people, you incentivize
the results that you want, and that's what everyone should do.
The unfortunate thing in the political spectrum is is that
there's a whole lot of really really great people go
in there and they have the right aims at heart,
and they want to do the best thing. And I'm
talking right across all of the party's the vast majority
(24:10):
there for the right reasons they want to do great things.
The problem is the incentive this year is to get
re elected, because if you don't get re elected, you
haven't got a job and you can't do the good things.
And it fights with what with what you do. If
you had a job and it was being in a way,
you go do this and the result in five years
will be great. Every three years they've got to win
their job back again. And I think that confuses the
(24:34):
messages in the marketplace.
Speaker 3 (24:36):
So what is the Okay, I thought there was a
really good question you asked us, what is the You know,
you incentivize the results you want. What result should politicians want?
I would have thought that you want people to be
able to have affordable houses. You want the market to
(24:56):
be You want the market to be flourishing in terms of,
you know, not making the barriers to getting in ownership
and borrowing and all that. You want to make that
accessible safe so people aren't over committing. But the problem
is you've got this idea that we need to take
money from one side and redistribute somewhere else in wealth
taxes and all that sort of stuff, which I think
is problematic. But what result as a politician. If you're
(25:19):
a politician, what result would you be looking for for
the property market.
Speaker 5 (25:23):
So my view is that we're looking for leadership from
our political leaders, and in the modern environment we live in,
the only way that you can show leadership to the
whole country is through the media. So the people who
stand up, whether it be on the television or through
digital means, or on your show, which has the highest
(25:43):
listenership in the world from what I understand, and is
chasing that morning show down really quickly. So we want
people who can communicate with us and give us confidence
that they are on the right track and that they've
got our backs and that we can trust them. Because
if the community feels that way, all of the rest
of it's sorted out by the community. The business people
(26:04):
have got confidence, they will drive their businesses forward, they
will invest, they will provide more jobs for people, they
will be able to have bigger incentives to their people
who work for them, right from the newest person to
the person who's been there forty five years. So the
job of a political leader is to give the community
confidence from one from right at the lowest level to
(26:24):
where there are big challenges, right to the wealthiest people
in the country. Give us confidence and we'll get out
and sort the economy. At that's all they need to do.
It's when things are uncertain we get mixed messages. That's
what ruins it. So that'd be my message to the politicians.
Stand up on your hind legs, tell us what you're
going to do and make.
Speaker 3 (26:42):
Us trust you, because I think that's probably one of
most peoples, regardless of whether you know, whether you sit
on the left or right, when there are policies that
come out that undermine people's confidence and where they're making
a massive and I mean to everyone, whether you're loaded
or whether you're a first home buyer, your property is
a major investment and if you do anything to undermine
people's confidence in that, that's where we've got a problem,
(27:04):
isn't it.
Speaker 5 (27:05):
The one hundred percent true? And if you look at
the moment I've been across in Australia for the last
three or four days that on business, we've been in
Queensland and if you drive through Brisbane at the moment
you go to the Gold Coast, it's like you're in
a theme park. It is unbelievable. There are cranes everywhere.
The infrastructure investment getting ready to host the Olympics is
(27:26):
just phenomenal and their economy is just flying. The migration
in the Queen's that at the moment is unbelievable. And
people would say hosting the Olympics, how crazy are you?
Will cost your billions of dollars. Well, you go to
Queensland and ask the queensland Is how they feel about that.
At the moment, it's a confidence.
Speaker 3 (27:41):
It would be full on, wouldn't it? Okay? Somebody said,
I've got a few texts here to get to. If
markets have been stuck, is built up demand still there?
What happens to that demand if you market gets.
Speaker 5 (27:51):
Slows down, one hundred percent of the demand still there.
It's a matter of people having the confidence to actually
push the button and make decisions. And that's what's happening
at the moment. We're seeing them coming forward. There's nothing
worse than being a human beings who knows they want
to make a decision in your hold back because you
haven't got the confidence. So the demand is sitting there
and it's starting to activate, and that's why we're seeing
an increase in inquiry and increase in people that open
(28:14):
homes and also an increase in the number of transactions.
Speaker 3 (28:17):
Okay, here's another one from Gerard. Do we have a
housing crisis in New Zealand? No one thinks we do
besides politicians. What does your guest think?
Speaker 5 (28:25):
Yeah, so I think that that isn't a sweeping question.
I think that's a personal question to each individual because
I don't have a house in crisis at the moment,
but I tell you what, There'll be people living within
five hundred meters where I live who don't know where
they're going to be sleeping tonight. So I think that
it's a personal question for each individual across the country.
(28:46):
I think that at the social housing level, and that's
certainly not something I'm an expert on, but that area
does concern me a bit because people who need a
hand to have safe places for their families. I'm not
sure we've got that right, but I know there's a
lot of work being done right.
Speaker 3 (29:01):
It's interesting just before you out of the break because
the Chris Bishop, he's right into getting the number of
affordable brings us up. And it's interesting because he sounds
like a politician, sort of almost of the left persuasion
when he talks about social housing and getting affordability, but
I mean he's are you even in a way surprised
(29:22):
that the way things have gone under his sort of
leadership on the housing thing. I don't mean a bad way,
by the way. I'm just saying it's interesting how passionate
he is about making housing affordable for a new elder.
Speaker 5 (29:33):
See, he's a classic case. I actually think there are
great people in every political party. Now, I've got a
persuasion one way. You might have one the other way.
It doesn't matter what it is. But he's just doing
what a decent human being will do who's in a
leadership position trying to fix a problem, because they always
say the best way to fix a problem is to
find a common sense solution, act on it so that
(29:53):
the people feel it. And that's exactly what he's doing.
So it doesn't matter what bad he wears. I mean
he wears the badgie does at the moment. A lot
of people will support him. But he's not making those
calls because it suits his side of the political spectrum.
He's doing that because that's his job.
Speaker 3 (30:08):
Okay, hey, look we'd love your calls if you like.
He give us a call on eight hundred eighty and eighty.
I'm with Brian Thompson. We were talking about the year
ahead also, Well, it's tinged with that the notion that
the ocr actually may be there might be some moves
by the Reserve Bank to turn it around a bit
because inflation is not quite we're not quite on top
(30:29):
of inflation as much as we thought we were. What
do you reckon it's going to mean for the property market. Oh,
eight hundred and eighty, ten eighty, it's twenty to five
news talks. He'd be his talksaid b I'm with Brian Thompson.
He's the managing director at Hardcourts. You're well, the simple
question is what's the property market going to look like
this year? A n Z's downgraded its growth predictions from
(30:50):
five percent to two percent. Sam, good ay, good things.
Speaker 6 (30:56):
You were talking. What do you think of market? Yeah, well,
I think I think what obments need to do is
they actually need to create more stability around the o
CR relatives for the housing. Housing market becaus warness, and
when the instability is like it is and it goes
(31:18):
up and down, let me tell you it doesn't create
the little bird stone buyers They're all a confidence issue
with the current property owners and larger property owners do
were ones that are wanting to grow even further. I
think they need to do that. We don't really want
(31:41):
property writers to go down because that's never going to
help any one of them people that haven't bought houses,
and when you've got and when you buy house, you
wanted to go up anyway. So I think there needs
to be some type of control with the o CR
relative to lending because in a mare, I've lived in
the America. You can fix in America for twenty to
(32:04):
thirty years, and I know they say they can't do
that here, but they need they need to have more
stability around that because of the end of that is
our biggest has help. I would consider myself my own
close to twenty twenty odd investment commercial and commercial and residential,
(32:26):
and I need myself to look at it when the
o C changes, thinking, well, that goes up two percent,
that's going to that's that that affects the amount of
money I spend as well in society and society. So
if they do that, that will definitely help the economy
and get things going again as well. But at the moment,
(32:48):
there's too much insability everywhere and it's and they do
need to stake more control of that.
Speaker 3 (32:55):
So you're talking about having there, but it's not so
much what happens with the o C, you know, with
the Reserve Bank. It's more what banks offer in terms
of longevity and can assistency. Is that what you're talking about, Yeah.
Speaker 6 (33:07):
There needs to be more certainty around that. If you can,
if you can fix your mortgage for even say ten years,
that gives buyers more confidence if this is what I'm
going to be dealing with for the next foreseeable future.
It allows you to plan, It allows you to plan
(33:27):
around it. But when you've got to fix every twelve months,
it goes up and now like at Yo Yo makes
it really really really hard. Now me myself, I'm okay,
but I know people that it's like they're talking about
it now, like cheaper is when I refix in the
next six months, I might be paying another three or
(33:48):
four hundred bucks a month and in and that affects
certain people. You know.
Speaker 3 (33:53):
If you're already right on there, yeah, that's instant unsad
you what do you reckon?
Speaker 5 (33:58):
It's interesting saying that the American situation is really clear.
But there their structure around their mortgages and how they're
actually applied to property are very different. So we don't
have the ability to have that level of level of
certainty here. But I think I'm not going to give
advice to the Reserve Bank Governor about the ocr because
I'm not qualified. But there has been a lot of
(34:20):
talk for the last three, four or five years that
it's a really blunt instrument. It's the only instrument they've
got to control inflation. So if they could sort that out,
that would be way better. Because nobody likes volatility because
when there's volatility, human beings are heard, animals, one person
stops acting, everyone stops acting. So I think some less
volatility would be would be great. And in saying that,
(34:42):
in the world we live in at the moment, that
seems like a pretty big wish.
Speaker 3 (34:46):
Yeah, thanks Sam, I appreciate your call mate.
Speaker 6 (34:48):
Is he going to just said one thing?
Speaker 4 (34:50):
Yep?
Speaker 6 (34:51):
Is he going to put a hand up to PM that.
Speaker 2 (34:56):
I like you? Sam? Thank you?
Speaker 3 (34:59):
Actually, funny thing is have you ever thought about politics?
Speaker 6 (35:01):
No?
Speaker 3 (35:03):
Actually, why don't we we have Well there's two questions. One,
why don't we have the really long term of mortgages
you can get in the States. But two, would the
New Zealand public be interested in that genuinely?
Speaker 5 (35:15):
Because so here's a fact I can quote fact here.
Just back when mortgages were really cheap, back just after COVID,
when it was almost free, there was a five year
rate offered at the B and Z Bank of New
Zealand at two point nine to nine percent. Tony Alexander
came out, one of New Zealand's most respected independent economic commentators,
(35:36):
and he said, anyone who doesn't take that rate now
is mad. And I went to the bank. My wife
and I we agreed that we should take that rate.
And when I went to the bank, I could not
sign the document because I worked out how old I
would be in five years time, and I thought that's
too long. And we locked it for two And that decision,
my decision, cost my wife and I quite substantial money,
(35:58):
because people don't like being locked in.
Speaker 2 (36:01):
They just that's the thing.
Speaker 3 (36:02):
It's you'd need it, you need a cultural shift to go.
Speaker 5 (36:04):
So we've just been through it again when the rate
was four point nine to nine percent for five years.
He said the same thing about three months ago. Nobody
took it and now that rates at five point three,
but you can still get two year money at about
four and a half. That's where people are going. It's
just a it's just the human psychology. I don't think
many keywers would take a thirty year mortgage.
Speaker 3 (36:23):
Now, Okay, John cod I.
Speaker 4 (36:26):
Hi, Hey, it's just commenting on both the other guy
about the ocr I've got a really different perspective. I
own one house, and I have this view that houses
are for living in, and honestly, if my property price
dropped by forty percent, I'd celebrate because then my kids
could afford a house.
Speaker 3 (36:43):
That's very altruistical with John, and there'd probably be quite
a few parents who might actually sort of relate to that.
Speaker 4 (36:48):
What do you reckon, Brian, because you know that's where
I sit.
Speaker 5 (36:52):
Yeah, And I think that's a really really valued, valid
point of view John. I don't subscribe to it, by
the way, but it's a valid point of view because
it matches what I said earlier on about people talking
about is the house price going to go up five
or two percent? It's irrelevant. You're living in your house.
It doesn't change. It's still your house, and you're still
still living in it. The challenge if you have a
really constricted property market, and if it did drop by
(37:14):
that level, it would hurt a whole lot of investors
who are actually the people who provide the vast majority
of the rental property for people who either choose to
rent or have to rent because they can't buy at
the moment. So it's one of those double edged swords.
They always say, there's a neat Every action has an
equal and opposite reaction. So while for you it would
fit and you would say it could could get be
(37:37):
easy for first home buyers to get in, I think
it would mean that there was a real structural problem
in our economy and things would be really, really dire.
Speaker 3 (37:44):
Okay, we need to take a break. We've got the
one roof property of the week is quite a doozy.
We'll get We've got the man to make the right
description of it for us in the studio with us
now Brian Thompson from Hardcourts. But one roof Property of
the week is next.
Speaker 1 (37:57):
It's ten to five, the one roof property of the
week on the weekend collective.
Speaker 3 (38:03):
Yes, welcome back. And as I said, my guest is
Brian Thompson. He's a managing director at hard Courts and
we'll get his take on this property. I'll give you
quickly the address if you happen to be near your
computer or your phone or whatever. Thirty nine Glenmore Road,
Coatsville in Rodney. It says price by negotiation. I'll give
the price in just a moment. But I love first
(38:25):
impressions and as soon as you look at this one
looks like half of it's for entertaining. They've got something
that looks like it's either a pool or a pond
or whatever, massive outdoor entertaining. But the fun part is
is that you scroll. There's a tennis court there, beautiful deck.
As I say, there's this I can't work out of
its pool or a pond because I didn't read it
(38:46):
too closely. And there's an equestrian training paddock. There's a
home gym which looks like it's probably something you could
sell subscriptions for. It's quite spectacular and funnily enough, the
bedrooms themselves are more sort of functional. But what's your
take on it, Brian.
Speaker 5 (39:03):
It's a magnificent property. It's just magnificent if you look
at the size of the home and if you read
the accommodation options.
Speaker 2 (39:09):
It's set up.
Speaker 5 (39:10):
You could have multi generational living there. You'd have put
your kids out in the sleepout and maybe your parents
in the different flat. The tennis court is beautiful, it's
floodlet if you if you're into horses, you've got an
equestrian arena. I mean, I'd rather pake myself.
Speaker 3 (39:26):
It's for horsey people.
Speaker 5 (39:29):
Location Coachville, isn't I mean, I'd rather have a fork
in my eye then they have to look after a horse.
Speaker 2 (39:33):
That's not my thing.
Speaker 5 (39:34):
But if you're into horses, that would be a great
place to be. It's a magnificent property, and the great
thing about it is it's in a location where the
property style and quality fits the location. So anyone who's
looking in that area for that type of property should
get on the job.
Speaker 2 (39:49):
I would think it's actually what's the.
Speaker 3 (39:52):
Thing that stood out to me? I guess maybe I
like the idea of one day having a really amazing
entertainment area, you know, with and it does seem that
there's a huge amount of it. On one side.
Speaker 5 (40:03):
Well, you could host weddings, you could have massive family gatherings.
There's multiple outdoor entertaining areas so you can hide from
a breeze if there's one blowing.
Speaker 2 (40:11):
It's beautiful. Eight million, no idea, I know.
Speaker 3 (40:14):
I'm just saying we're estimate eight and a half million,
the lowers eight and this is the one roof for mestmate.
Speaker 5 (40:20):
So let's get it on a contracts here you go, Tim,
that would suit you and your family, it'd be great.
Speaker 2 (40:23):
I contract.
Speaker 5 (40:26):
Well, well, I left to ring the agent see if
she'll work in with me.
Speaker 3 (40:29):
They need a change of contract here as well for
that one. Anyway. So anyway, so what's up with you
for the next week with hardcourts and everything.
Speaker 5 (40:36):
Oh, we're going into our summer season of events. So
we have a series of events called ig Night coming
up soon where we do some educational work with some
speakers for our salespeople and if you get them all
underway for peak selling season, which we're in right now.
March is always the biggest month of the year for sales,
so our guys are really really busy, so we're doing
(40:57):
everything we can to support them with great quality information
and positive messages. It's going to be a great year.
Speaker 2 (41:03):
Looking forward to it, excellent.
Speaker 3 (41:04):
Well, we look for good to having you back. On
the show. Thanks so mu much for joining us. And
yeah it's too late for happen New Year, isn't it.
Speaker 2 (41:10):
That's gone.
Speaker 3 (41:11):
Yeah, that's gone anyway. Hey, thanks that as Brian Thompson
from The Hard Courts. We'll be back with the parents
quite next How involved should you be with your child's education?
A lot of parents ask on themselves that question as
they could start school where he get ready for exams
next year.
Speaker 1 (41:27):
For more from the Weekend Collective, listen live to news
Talks It'd be weekends from three pm, or follow the
podcast on iHeartRadio.
Popular Podcasts
Hey Jonas!
Hey Jonas! The official Jonas Brothers podcast. Hosted by Kevin, Joe, and Nick Jonas. It’s the Jonas Brothers you know... musicians, actors, and well, yes, brothers. Now, they’re sharing another side of themselves in the playful, intimate, and irreverent way only they can. Spend time with the Jonas Brothers here and stay a little bit longer for deep conversations like never before.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by Audiochuck Media Company.
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!