June 27, 2026 • 41 mins
On the One Roof Radio Show, founder of Property Quadrants and property commentator Nichole Lewis joins Tim Beveridge to talk about why less people are including property in their retirement planning.
And why is it so hard to sell an apartment? Should first-home buyers steer clear of something that they'll likely be stuck with?
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News Talks, Edbow.
Speaker 2 (00:13):
The bread scams.
Speaker 3 (00:16):
Back to now.
Speaker 2 (00:19):
Okay, were a stabbing unwere shelter?
Speaker 4 (00:41):
And welcome back to the One Roof Radio show. This
is the Weekend Sorry should I say welcome back to
the Weekend Collective? Welcome in if you if you've just
joined us, of course you'll be welcomed in rather than
welcome back. Okay, this is One Roof Radio show. We
want your calls and your text but of course, as
I say, it's one it's news talk, so we'd love
to hear from you, basically to join the conversation with
(01:02):
your recon reckons on the topic of the day. And
the topic of the day to kick off with is
a really simple question, because you'll remember a time when
property I remember it on this show because it was
almost the weekly theme in a way, was what the
market was doing, because there's so much interest from people
in getting into the market and the best way to
(01:24):
do it as an investor and all that sort of thing.
And it was on the backdrop of John Key, who
you remember. I think he had some rhetoric ages ago
about you know, New Zealanders also need to make plans
for their own retirement, and property was the thing everyone
was talking about, what's the property market doing? And it
seemed back back then, I'm not talking that long ago,
(01:46):
that it was simply what it boiled down to was
simply doing the right financial equation where you could get
into another property and then everything would look after itself.
But it does seem the energy has shifted. We've seen
since the peak following COVID that property prices are still
obviously a reason well down on that, and mortgage costs
(02:08):
a higher rates and insurance are going up. Anyway, the
capital gains, it doesn't feel like it's given in the
way that it was. And you'll remember that there we
had guests had said that historically that the property market
would double every eight years, and then it was sort
of like double every ten years. Now I've heard from
forecasters who've said, well, if we just base it on
(02:29):
a three percent capital gain, it's not going to double
for another thirty years. So the short question is, and
this is what we want your tie in on this, sorry,
your involvement in your cause on eight hundred and eighty
ten eighty, and the question is, is property as part
of a retirement planning? Is it dead in the water?
Is now something for which has a higher degree of difficulty?
(02:53):
So for the average kiw really it's no longer top
of the pops when it comes to planning for your retirement. So, yeah,
that's the question eight hundred and eighty ten. To answer
this question and other ones, of course, we're going to
throw at her. She's the founder of Property Quadrants and
property commentator Nicole Lewis is with me today. Nicole, how
(03:13):
are you going?
Speaker 5 (03:14):
Hello? Hello, thanks for having me.
Speaker 4 (03:15):
Well, hot question. I mean, I guess I'm expecting you
you'll push back on the premise. But for the average
key we as it was? Is property investment dead in
the water when it comes to retirement planning? Or how
has it changed? If not?
Speaker 6 (03:30):
I think there's two answers to this question is and
one is is it dead in the water. No, I'm
dealing with those people all of the time that are
buying property planning for their retirement. But it's got a
different outlook to how it used to have.
Speaker 4 (03:43):
Yeah, so it used to be I would say we
never bought ament a retirement property. There we go, We didn't,
But I remember thinking, gosh, if we just sort it
out and get in there. It was the view was,
so long as you get in their job done, so
long as you can keep cover of the rent and
all those sorts of things, job done, property will go
(04:04):
through the roof eventually and you'll have an extra million
bucks that weren't planning on having. Maybe that's an overstatement,
but it is. What's the equation now?
Speaker 6 (04:12):
I think I think people are looking at it the
wrong way. Actually, it's interesting. My father in law is
looking at retirement villages and I went round and had
to look with them, and it made me realize, Oh
my goodness, retirement is super expensive. So I realized, okay,
I went in, I had to look back at my
retirement plan and I thought, you know, capital gain is
not what we should be thinking about for retirement.
Speaker 5 (04:34):
It's actually cash flow.
Speaker 4 (04:36):
So it's actually funny thing is and this is me
repeating things I've said before, but you can't help it.
On a property show that there's similar things come up.
But technically speaking, if you don't want to pay any
tax on the property on the capital gain, you have
to buy it for the income. That has to be
the main purpose of you buying and investment properties for
(04:56):
the income you get from the rent.
Speaker 3 (04:57):
Yeah.
Speaker 6 (04:58):
But also the other equation don't forget is people are
living a lot longer now. So the question is, you know,
if you've got a million dollars, how many years is
it going to last year? And I take you looking
at those retirement villages and it's just a village, not
if you need care or rest home level care, just
a village. I think it was about eight hundred dollars
a month that you're actually paying as your fee as
(05:18):
part of you know, as well as actually buying your
house or your right to live, losing your thirty percent
over three years, and on top of that your eight
hundred dollars a month which goes up every year at
the same percentage the superannuation does.
Speaker 4 (05:35):
Interesting. I have been thinking about having a chat about
the retirement equation as well, from the point of view
of buying into a retirement village. We might actually even
touch on that a bit more. But yeah, So, so
in what way has it changed in terms of investment
for property for for retirement. Has it changed also in
(05:56):
terms of just you know, the amount of money people
think they're going to need. Correct, Yeah, so what do
people what do people want before, did they?
Speaker 6 (06:03):
Well, before it was all about capital going and so
that's sorry to say, that's the old thinking. That's the
old thinking. Yeah, okay, because you think about it, you're
gonna I'm gonna have a million bucks for time I retire. Well,
so what what's a million dollars going to be worse
in that time? And how long is it going to last?
Speaker 3 (06:19):
Now?
Speaker 6 (06:19):
Now, I looked at it and thought, right, now, if
you go into retirement care that goes up to about
fifteen hundred dollars a week, right, and you have to
spend all of your money until you've got two hundred
and ninety left. But I looked at it thinking, okay,
so I need say two three thousand dollars a week
coming in to cover that worst case scenario. So if
(06:40):
you've got enough property and that's coming in, that's all
you need. Then you can live for thirty years. You
can retire at sixty five and live.
Speaker 7 (06:47):
Till your ninety five if you need it to go
into the care home and well yeah, or.
Speaker 5 (06:51):
Even if you want to go into the actual.
Speaker 6 (06:55):
You know, retirement village, because it's all about lifestyle, you know,
especially if you're left on your own then you can
afford to live there for as long as you like.
Because don't forget that fee that you pay doesn't everything.
You still got to pay your food, you still got
to pay your power, You still got to pay your internet.
Speaker 4 (07:09):
So the people that you talk to about property investment,
have they shifted in terms of what their expectations are
and their goals are. What's shifted for them?
Speaker 6 (07:19):
What shifted for them is still is realizing that retirement
is more expensive than we thought it is. We're living
for longer. So if you retire at sixty five and
you're lived till ninety five, that's a long time. You
know how you're going to get your million dollars to
last thirty years?
Speaker 5 (07:35):
It just doesn't Does that.
Speaker 4 (07:37):
Work out to be thirty years? I mean, obviously it's
going to have some capital growth, and you're going to
draw and draw down in the capital as well. A
million bucks divided by thirty is not very much.
Speaker 5 (07:46):
No, No, not much.
Speaker 4 (07:47):
I thought thirty thousand bucks a year.
Speaker 5 (07:48):
No, not much.
Speaker 6 (07:49):
And you still want to enjoy, You want to enjoy
your still hopefully really good health. Up until about I
don't know, my grandmother was she started to go downhill
a little bit at ninety seven, so you know, you
still want to travel and you want to enjoy yourself.
Speaker 5 (08:03):
And that's the thing.
Speaker 6 (08:03):
If you forget about the idea of having capital gain
and property and it'll happen, but by how much we
don't know. And think about having income. You've got that
two three thousand dollars a week coming in every week
for years and years, and it goes up every year
as rint does. That's the way you should be looking
at it. With property investment.
Speaker 4 (08:21):
So we'd love your calls on this. Where do you
view the role of property when it comes to your
retirement planning, Because there was a time when it was
sort of you know, you've just got to get an
investment property, whereas it's not quite so straightforward now eight
hundred and eighty ten eighty. By the way, just an
update on the football. The second half is underway. There's
a yellow There was a yellow card from midfield player
(08:45):
Marco Stammer. Oh I can't even pronounce his name anyway,
he's an all White. By the way. He made a
clumsy tackle so he's on thin ice. Anyway. We've made
a couple of substitutions, including Auckland f C star Jesse
Randall and so hopefully some fresh legs are line it up.
But unfortunately I do have bad news for you that
they've scored another goal. And my producer Lock's been keeping
(09:08):
an eye it. He describes it as a lack of
defensive cohesion has led to the All Whites concetting a
second goal against Belgium. So yeah, right, and apparently poor
decisions allowed him to the Belgian to sneak a shot
into the net from within the six yard box. So
there we go where we are up against it a
big time and let's face it, I mean, we'd have
(09:30):
to be a miracle for us to turn this around
against one of the top teams in the world. Right anyway,
your calls on property eight hundred eighty ten eighty Is
property still part of your investment plan and will? And
if not, will property do you think ever become part
of retirement planning again? Or is it dead in the
water eight hundred eighty ten eighty Right, let's take some calls,
(09:52):
shall we. Shane?
Speaker 3 (09:54):
Hello, Hi, Now, I built my first back house in
Auckland in nineteen eighty when I was twenty two years old,
and it was quite simple back then it's just that
the interest rate was twenty six percent from the Westpac
Bank but at the time. But I've been in the
building industry for fifty odd years and I'm currently a
(10:14):
building inspector. But now, the way I see it, the
only people who can afford an Auckland mortgage, you can't
afford an Authland mortgage on on Auckland salary. And when
it comes to capital games, nobody seems to be talking
about the expenses of owning a property. Because if you
(10:36):
used your own house as security, and you borrowed, say
a million dollars to buy a rental and Auckland, that's
not much of a rental. Now it's going to cost
you probably seventy or eighty thousand dollars a year interest
only in interest, greats insurance, we're into bad tenants and
stuff like that. Our In theory, it's costing you one
hundred grand a year to own that property. Now, if
(10:58):
you bought it for a million today and sold it
for two million dollars until years time, if it actually
doubled in ten years, it's costing one hundred grand a
year to own it. In theory, you've actually made no
profit at all, the only profit you've made is your rent.
But you'd only get about eight hundred dollars a week
for a million hour property, which is only forty grand
(11:20):
a year, and you pay tax on that. So I
believe that gone o the day is a big capital
gains because houses have actually become affordable and they can
only sell them for basically what people can afford. And
if you go to the bank and he says, well,
we can only lend you six times your your income,
he says, well, he might earn one hundred grand a year,
(11:42):
but six hundred thousand is not going to be enough.
He said, but I need a million, And the guy
said just says, well, you can't afford a million. So
where do we go from there?
Speaker 4 (11:53):
Where do we go from there?
Speaker 5 (11:54):
Or we go outside Auckland? Simple sorry to say, yeah done.
Speaker 3 (11:58):
My friends have done. They've moved to Amaru, but it's
their property is going down in value just as fast
as all.
Speaker 4 (12:08):
Yeah.
Speaker 3 (12:08):
So they've got three rental truptings down there, and so
they're in a dire state for the moment.
Speaker 4 (12:17):
Is that? So did they sort of just buy something
with the idea of it just being the equation working
for them and it'll eventually go up, but it's not
working out so well. Where what's the problem for them?
Is the rent not making hour or is it losing value?
Speaker 3 (12:29):
What he's seventeen and they've got three rentals. It gone
down probably twenty percent since they brought them about five
years ago. They had to move to Honue just to
get rid of one of the tenants.
Speaker 4 (12:46):
So it's blimey, it's not good.
Speaker 3 (12:50):
Yeah.
Speaker 4 (12:51):
Is that because they couldn't boot them out, but you
could boot them out if you had you limit yourself. God,
So they actually moved to get rid of a tenant.
Speaker 3 (12:58):
Yeah, And so that was particularly so they're they're trying
to sell the rentals now because they can't afford to
keep them because of the interest rate on their mortgage.
Speaker 8 (13:12):
Yeah.
Speaker 6 (13:12):
And unfortunately, you know that that's a story for a
lot of people. They actually get their investment strategy wrong.
So you never buy a single income property. You buy
a multi income property, and you need to make sure
that your rent, so your rates, your insurance, your property
management fee, your mortgage, and your maintenance are all covered.
And then you've got money left over at one hundred
percent borrowing and those formulas work, we buy them every
(13:34):
week and then you've got some protection island Auckland. No, well,
I never say never, but we search. We've last week
bought in Dunedin and settled one in where did we
settle in the cargo.
Speaker 5 (13:56):
Last week? So you know, never say never.
Speaker 6 (13:58):
But it is extremely difficult in Auckland to have everything
cash flow positive at onehundred percent borrowing. It is possible
if you put in a deposit, but most people use leverage.
So therefore you go outside of Auckland to look for
something that's cash flown. If you've got the cash flow,
you're protected.
Speaker 4 (14:17):
So when you mean by leveraged, so they've leveraged, which
technically means they've got they've borrowed eighty percent.
Speaker 5 (14:24):
Well, they've borrowed one hundred percent, but in.
Speaker 4 (14:26):
Reality they're using their leverage for one hundred percent.
Speaker 6 (14:30):
Correct, So they're borrowing thirty percent against their family home,
for example, and then seventy percent against the investment property
they're purchasing.
Speaker 4 (14:38):
So are you involved in an investment? Are you saying
inspector now, shame? Where are you at worth? Properly?
Speaker 3 (14:44):
I'm too trying to do it now. I've always believed
that the next drupted Crash is just around the corner,
and we've propped it up with immigration in the last
thirty years, starting in about nineteen ninety when when Helen
Clark invited everybody to use it, and it's had a
million dollars so and it did it really didn't. People
(15:10):
made a lot of money in the building industry, but
that forced prices up and now they've become unaffordable to
build virtually.
Speaker 4 (15:20):
Actually, there'll be a lot of people who, yeah, sorry, Shane,
I spoke over you. There there'd be a lot of
people listening who would say that, who would have said
over the years too, it's all fed by immigration, but
that that was a significant part of the pie, wasn't it.
Speaker 3 (15:37):
Now Now we're not as I think we're full, especially
in Auckland.
Speaker 4 (15:47):
Well, Auckland's full, and I think so.
Speaker 3 (15:52):
Because one of the problems is we're building a lot
of town houses and nobody wants The reason they don't
want them is they can't get more than one car
pack and the average There's a street in Auckland that
I go to and it's two hundred meters long and
it's got ten new multi unit developments on it. That's
an extra fifty cars in that two hundred meter that's
(16:17):
asked for fifty houses in that one street, and the
ball only got one car pack. And I say to him, well,
if you can't provide two car packs, no one will
buy your house, because if you come home at six
o'clock at night you can't pack within a kilometer of
your house, you're going to be looking for someone else.
Speaker 4 (16:36):
So you've you've actually raised it, You've quite you've raised
another topic that we're going to be touching on as well, Shane,
because because that was one of the other questions we
were going to look at this hour, which we might
as well throw in there. But because I have a
colleague who bought it's not a town us but an apartment,
and it seems like a because it's affordable. It seemed
like a great first time. But now that he wants
(16:56):
to move, he's struggling because he can't get rid of it.
Speaker 3 (17:02):
And now you've got a situation where there's things are
thousands of multi unit sites, all finished and available to sale,
but they can't sell them. So people who would normally
build those houses normally buy one section, build a house
on it and sell it. Do that maybe twice a year.
Now they've invested. They bought a section for two million dollars,
(17:24):
they've got rid of the house, they've put six units
on it, and now they've invested six or seven million
dollars into that one building site. And they're just ordinary
husband wife families, they're not congomerates. And now they've got
half a million dollars a year interest builts. Yeah, gosh,
that's really scary. You know.
Speaker 4 (17:43):
The other question you've thrown up there is the is
the value of a car pack? Because funnily enough, we've
got the ability in our sort of unit we've got
with a couple of parks downstairs, and we had the
room for four cars. We've reduced it too, and there
was a discussion between my wife and I about whether
we could convert one of those car parks into another room,
(18:03):
which would give us five bedrooms, which is a lot.
But now i'm listening to you, Shane, I'm thinking I'm
glad we haven't, because maybe part of the value in
our property is the fact that it's two car parks.
Speaker 3 (18:14):
Exactly. I go to places and there's tars all over
the footpaths and verges and on the grass on their lawns,
and there's a camera car driving around all day giving
tickets for all these people that are illegally hung by me.
Speaker 4 (18:29):
Yeah, hey, Shane, great care mate, thanks for your thanks
for your insight into that. It's actually not throw that
out to people who are listening, because I've never thought
of this nicole. But what's the value of a car park?
Speaker 6 (18:41):
It is an interesting question, But don't forget to differentiate
because when we talk about townhouses, which are called terraced houses,
usually they come with the garage, so you've usually got
at least single garage.
Speaker 4 (18:51):
He's talking about this one car as opposed to some people.
A lot of people like too.
Speaker 6 (18:56):
Yeah, well that's true, but usually they come with the
garage and you've got a car park out the front,
so you've technically got two. But when you buy a
like a apartment that lent now with the terrace housing
apartment zoning, you actually don't need to provide any car parks,
so that a whole lot of them going up with
no car parks. But in THEHS mixed housing urban or suburban,
(19:20):
you still have to provide car parking.
Speaker 4 (19:22):
Okay, of course, there's a few angles for the conversation
and we'll continue this in just a moment. Oh eight
hundred and eighty ten eighty. Update on the footballs that
I think we've had a yellow card in the fifteen
minutes since the start of the second half. Egypt and
Irana being trading blows, not in terms of goals but
tackles on the field. They're getting pretty intense. But of
(19:42):
course where it all matters for New Zealanders, the All Whites.
We're struggling to defend with the keepers being pretty busy,
and it doesn't look like an optimistic situation for us
at the moment. And I think I saw that we
had we see another yellow card anyway, So I'm scrolling
up through our notes and I'll come back to you
(20:02):
with any further updates. But the most important and update
is it it's two nil Belgium over New Zealand. We'll
be back in just to take news talk, said B.
News Talks hed B eight h ten eighty. We're talking
about the property market and whether the idea of it
being a way to invest for your retirement is an
(20:23):
idea that's dead in the water. But we've had a
few other themes that have come up in the in
the context of the conversation including you know, a lot
of townhouses which don't have a lot of either come
with one park or no one park or in the
case of apartments, no parks, and what's the value of
a car park? But also my guess with Nicole Leersle.
The other question that came up with one of the callers, Shane,
(20:44):
was he who'd been involved with property for years and
years and years, he's now too afraid of it. Actually,
by the way, before we go to that, it's three nil.
Belgium have scored again and scream of a goal. Kevin
de Brune has basically whacked on a beautiful shop from
outside the box into the bottom corner of the New
Zealand goals. Now, so I think the technical expression is
(21:09):
we're screwed. That's it. That's the technical sporting expression.
Speaker 5 (21:12):
But that was a goal to watch, it was a
goal to behold.
Speaker 4 (21:15):
It was quite good anyway. So yeah, anyway, it was
interesting that Shane's talked about fear.
Speaker 7 (21:22):
Yeah.
Speaker 5 (21:23):
Funnily enough.
Speaker 6 (21:23):
Okay, So I had my friends over, we're having a
gin the other day and we're talking about property and
they bought a rental property a few years ago and
they went, oh, my goodness, I can't wait to sell it.
It was going to be their whole retirement plan. And
I said, why why fear? They are actually scared for
the first time probably ever of the labor government getting
back in and the non deductibility coming back, because what
(21:45):
it meant for them was they had to go and
borrow forty five thousand dollars against their family home to
pay their tax bill when their interest was not deductible.
And they're like, man, we can't afford to do that,
We're too sack.
Speaker 4 (21:59):
Maybe how they phase it in because they can't.
Speaker 6 (22:01):
Just whack you straight away it was a seventy five
point fifty five zero and then it just creeps on.
Speaker 5 (22:07):
That's right, that's right.
Speaker 6 (22:07):
So when you've got it effectively a riven u tax,
you've got to pay tax on money you don't have.
That is really scary because it's not like a lot
of these mum and dad investors. They've got a job.
They can't go and earn an additional forty five thousand
dollars after tax to pay tax.
Speaker 4 (22:23):
I think that's one of the problems when it comes
to just generally investment and property. And I don't mean investment,
just people, you know, sticking money in and then pulling
a lot more out. I mean, people in New Zealander
is investing in more housing. I think that you do
wonder whether that's going to have a delayed effect where
it suddenly bites us in the bum and we don't
have enough people putting money in because it's look, it
definitely political uncertainty.
Speaker 6 (22:44):
It'll bite us in the bum in two different ways too,
because my friend is the exact demographic that we're trying
to encourage to save for their retirement. And so then
what the government did is discourage that whole demographic that
should be encouraged, and then you've got fewer rental properties
as well. So it's sort of like it's the first
(23:07):
time ever people are actually scared of what might happen.
Speaker 4 (23:11):
I mean, because fear can I mean, it's funny, isn't
it that the fear of not having enough to retire,
retire and can motivate you as well. And it seems
that fear can be a motivating thing in all sorts
of directions, but now it's driven by political uncertainty. Exactly
eight hundred eighty ten eighty. Your thoughts on that as well,
and let's go to by the way. We've also been
talking about where the townhouses and apartments are a good
(23:35):
first time choice when you may actually have trouble selling them,
when you've decided you finally have got a bit more
money to move move on with eight hundred eighty ten
eighty Chris Solo.
Speaker 8 (23:45):
Yeah, Hi, a townhouse. They're building them everywhere, and I
understand that, you know, I've heard of people trying to
sell them, and they take more longer than they than
selling an ordinary house.
Speaker 3 (23:58):
For the lawn.
Speaker 8 (24:00):
I don't see they you and them there. I've been
through a few. They're so tiny you couldn't even swing
a can in it, and you don't have any privacy.
It's like, oh, there's a neighbor. You know, you just
you know, look out there, look out there, and you
just you just don't you know, you see the nose
of the neighbor, and it's really embarrassing living with hearing
(24:25):
noises and someone's vacuum cleaner going at three o'clock in
the morning, or you know, it's.
Speaker 4 (24:30):
Just are you are you luckily I'm not.
Speaker 8 (24:35):
Luckily I'm not. But I see a lot of them
around here. They're getting built, and I don't see what
owners see in them, and the reason why they don't
sell is exactly. I wouldn't even put my dog in
there to live with me. Yeah, it's a hot take.
Speaker 4 (24:50):
I guess they sell in the first place because they're
home for someone and they're affordable compared to well, because cost.
It's a supply and demand.
Speaker 8 (24:59):
Well maybe you would have heard about a few months ago.
I heard a guy brought one for six hundred thousand
and put it on the mark. Well, he bought it
for six hundred but went to sell it and he
had to go at a two hundred thousand dollars loss
because he couldn't sell it, and it took four or
five years to sell it.
Speaker 6 (25:20):
You see, it does depend on the cycle though, So
don't forget twenty twenty one was hot. We had one
of the biggest updomes and property ever, so people who
bought in twenty twenty one townhouse or not everything as
taking losses now because we had one of the bigger
drop than the global financial crisis in twenty twenty two.
Speaker 5 (25:36):
So that's a big factor.
Speaker 8 (25:38):
Okay, Well, so what's the point of buying one then?
If someone's going to go to a loss buying one
in the first place, But you go and buy one yourself, Well,
you've got a good deal. But I just don't see
the benefits of owning one. If I wanted to sell
in the future, that's all, what.
Speaker 4 (25:54):
Have you got? What do you own?
Speaker 8 (25:56):
Well, look, I don't own a house. Our boys wanted to,
and I guess they're all the money that's gone through
my hands. I could have got one by now, I.
Speaker 4 (26:04):
Mean, I mean that's why wouldn't maybe a townhouse or
apartment be better than nothing? Better than nothing because you're
actually sort of your rented game.
Speaker 8 (26:14):
For single people. I wouldn't recommend for families. I don't
think you've seen many mums with talk kids or wife
and husband buying them. I don't know. Maybe it's a
new train now that maybe they're out there to attract
people to live a easy lifestyle.
Speaker 4 (26:35):
Well, lock and leavers, they say, Chris, no maintenance.
Speaker 5 (26:38):
You're always going to get some people that love.
Speaker 7 (26:40):
That sort of thing.
Speaker 4 (26:40):
Actually, because I've noticed around well not well my neighborhood
that they've got any of apartments going up. They're generally
pretty flash and you'd think I'd love a piece of
that but what's how would you make a what is
it that makes some apartments and I'm guessing they're probably
the elite ones that have been beautifully built, you know,
a great position. Location, Yeah, location, location, And it's does
(27:05):
it go back to that whole thing because one of
the things we were talking about in the break is
the problem with apartments in townhouses, well apartments more so,
is that the value of your properties a lot of
the time it's in the land. That's right.
Speaker 7 (27:17):
You've got no land, so you've.
Speaker 4 (27:18):
Got a tiny slice of an interest in land, but
nothing compared to someone who's got a something that sits
on its own patch a too.
Speaker 6 (27:25):
Mean, they definitely don't go up as much as a
house on a piece of land. They never have if
you look historically. And also with apartments, you've got your
body corp. And so what happens over years a building depreciates,
which means your body corp goes up because the maintenance
goes up, and that can make it unaffordable for people
and also very unattractive for someone to buy in an
(27:46):
older building. So that's another consideration that's apartments, though townhouses
a little bit different.
Speaker 4 (27:53):
It'd be interesting to see when if it ever does
change that the car park is not so important. It
depends because look, if you're in London.
Speaker 5 (28:03):
Yeah, but look at their chance.
Speaker 4 (28:05):
No that well, that was exactly what I was going
to say. You could have a fantastic I lived in
a place called angel and if you had a Georgian
sort of terrace thee consider yourself the luckiest person in
the world. And of course there's no car park, but
you had the best transport. You know, just walk out
and there's a bus there. But that's the problem with
Auckland is that even though we're going to get the
(28:26):
CRL and I can see that if you were someone
who lived near a transport hub, then bingo, fantastic appears where.
Speaker 6 (28:33):
You want to go though, because you know, like the
North Show has not got very good transport system.
Speaker 4 (28:39):
So that's the whole thing.
Speaker 6 (28:40):
I mean, the parking rides are great, but you've got
to get there.
Speaker 4 (28:42):
Yeah. So you know this text heress item. There's a
listing in Lyle Bay, Wellington where the developers saying they're
no longer going to include car parks and their future
developments because downsizes have told them they they wanted. There's
a bit of a grammatical area here, single level, three bedrooms,
two bathrooms, low maintenance, off street parking, freehold ownership when
(29:06):
these homes are built has been the first time buyers
who have stepped forward and secured them.
Speaker 6 (29:09):
But don't forget off street parking as a car park.
Speaker 4 (29:11):
Yeah, no, I don't know what that. I think there's
a word or two missing in that text.
Speaker 5 (29:15):
Actually maybe they mean no off street park.
Speaker 4 (29:17):
Yeah, anyway, I'll see if it.
Speaker 6 (29:20):
I mean, you look up the percentage how many New
Zealanders have a car then and we'll usually most families
have got two cars.
Speaker 4 (29:27):
Anyway, Andrew says he had the final sentence of his
text is the future developments will instead focus on two bedroom,
two story house at townhouses without off street or without
off street parking. Right there we go, h interesting, interesting
new world, isn't it?
Speaker 6 (29:42):
Will be interested? I do think a lot of people
won't buy if there's no parking. Yeah, because people, especially
in Auckland, they're still have a car.
Speaker 4 (29:52):
Would you ever, Well, because you mentioned we were talking
about retirement living, but they have car parks. Yeah. But
one of the one of the I was talking to
someone who knows a bit more about retirement living than
I do. And his point was like, why would you
go into a retirement village when they've got such a
lousy deal on what you buy into because there's no
guarantee the care home is going to be available when
(30:13):
you need it. He's just going to buy an apartment.
Speaker 6 (30:16):
Now, financially they're terrible, shocking, but you know, people go
into it for lifestyle. They want, you know, they want companionship.
They're with their partner dies, they're by themselves. They want
to be with someone else. They love the activities, the
atmosphere that's put on.
Speaker 5 (30:31):
You know, people love that.
Speaker 6 (30:33):
I mean, look, my grandmother finally went into a retirement
village when she was ninety seven, and she said to me, oh,
I should have done that sooner. I said, yeah, maybe,
you know, she loved the companionship. Okay, ninety seven though, do.
Speaker 4 (30:45):
You go see who the companions are. I don't know
what other people idea. I mean, it's obviously not something
I'm thinking about right now. Anyway. Anyway, it's twenty to five,
we'll be back. And just to take an update on
the football, it's still it's three nil Belgium New Zealand
and it's where at the seventy seven minute mark. It
looks like there's a free kick to Belgium where all
the boys are lining up in the traditional pose of
(31:08):
making sure they don't get hit where it hurts. There's
a wall of about seven all whites there and yeah,
we'll see what happens in just a moment. But it's
news talk, said B. Nineteen and a half minutes to five. Yes,
news talk, zaid B. Now, Nicole, we have touched on,
you know, townhouses being a tough sell sometimes and maybe
(31:31):
something that's related to our street parking or just the
fact that you know, once you've bought a townhouse, the
next thing it's yesterday's news and the next townhouse development
comes up for apartments? True, what would you have any
guidance to offer people that if they're looking to get
into something like a townhouse or an apartment, What is
it that might make that particular development one that's going
(31:53):
to stand the test of time, that will actually still
have interest when you come to sell it.
Speaker 6 (31:57):
Okay, to be to be fair, if I am talking
to a property investor, I say, do not buy one,
just don't go there. Nothing will make it good. Yeah,
if I'm talking to a home buyer. Then it boils
down to location, but not so much location as in
let's go buy in the best part of the country
(32:18):
that there is, location as in where do they want
to live? Because really all an apartment is is a
lifestyle choice. You can like first home buyers, My nephew
just bought one. He just bought a townhouse because that's
what he could afford to buy. Very cool, he's got
his first house at twenty seven. I think that's amazing.
Good on them, and that's what he could afford to buy.
So better to buy that than nothing. I think that's
(32:38):
a good move if you want to live in it.
But if you're going to invest in something, just don't
buy anything as a way in a townhouse?
Speaker 4 (32:44):
Yeah, what makes so what is it that people are
looking for with apartments? You know that are going to
hold their value? I mean, obviously if you've got some
sort of parking, let's not get obsessed with the parkingus.
Speaker 6 (32:54):
Be those if you've got a bit of land like
as well, like some of them actually, like I had
some clients that bought one to live in, but it
was the one on the corner and it actually had
like four hundred square meters of land. Now that's fantastic.
That will probably go up in value because none of
the others do have any land, So it's it's And
there are certain locations where they are still selling so
(33:18):
close to beaches or things like that.
Speaker 4 (33:21):
Yeah, somebody's pushed back against that text one of the
I think one of the points of view saying nonsense.
Tim In Auckland they're struggling to sell townhouses and apartments
without proper garages and parking. I guess it's do you
think there'll ever be a change in the zeitghust on
that or do you think that that's going to be
a problem long term?
Speaker 6 (33:39):
Look, I have to say, I think it's really boils
down to a personal preference. You know, would I myself
buy something without a car park? No, because I've got
three cars. You know, would someone else who doesn't have
a car buy Of course, it's not going to worry them.
Speaker 5 (33:53):
Do I look at it? Would I buy it for
future value?
Speaker 1 (33:57):
It?
Speaker 6 (33:57):
Look, it depends how long you're going to hold a
property as well, if you're going to sell it within
a couple of years, as touch and go as to
whether you'll make money or lose money, depending where you
bought it on the cycle. If you're going to keep
it for ten or twenty years, you always going to
make money no matter what.
Speaker 7 (34:09):
You just don't know, by the way, just.
Speaker 4 (34:12):
On the football, the comeback is on. It's three to
one and look we've got at least ten minutes. I'm
not sure who scored that goal. I produce a local
left till he scored that one. That was Elijah, just
the same bloke who scored two goals. Just oh my god,
he's had a great tournament. Wow, he's just scored another
goal in the World Cup. So it was a beautiful
(34:34):
looking goal, to be honest. If we could just have
a couple more in the next five minutes, No, we
need three more. And yeah we've got what is it,
the eighty four minute.
Speaker 7 (34:43):
Mark, but you know that's plus extra time.
Speaker 8 (34:45):
Come on.
Speaker 4 (34:46):
So those New Zealand soccer fans, look, Elijah just great
player and he's scored a beautiful goal. And that is
something of a consolation because we're not going to be
getting through to the final thirty two, are we because
Belgium on the Belgium have been just too good really,
So anyway, let's have a lot a few texts here, Hi,
(35:08):
James here, Just wait until people are running extension cords
across the footpath to charge their cars.
Speaker 3 (35:13):
Ha ha ha ha.
Speaker 4 (35:17):
Yeah, that does sound problematic. I don't imagine that'll happen.
Of course, another person, Bradley reckons He says, I purchased
my apartment in twenty twenty one and it's up one
hundred thousand. It's very cheap living. Tell that snob to
keep swinging his dog and his rental and leave the
cheap homes for the rest of us. That does sound
(35:37):
like an unusual story in twenty twenty one for something
to be up one hundred thousand dollars. By the way,
I don't think my caller who was having a crack
at it was I don't think he was being a snob.
Speaker 6 (35:45):
No, he just didn't like townhouses and that's fine personal preference.
So yeah, it is interesting having gone up in value.
Speaker 4 (35:53):
Well, I've got another update. There has been another goal
scored by Belgium, so we just got one to make
it three to one, and it looks like pretty much
you know, within moments later Belgium have gone and scored
in reply to ours, So that's a bit of a bummer,
isn't it anyway? Eight hundred and eighty ten. E to
(36:13):
tell you what we might just quickly quickly go to
the break. It's eleven minutes to five news talks. He'd
be yes news talk, said, be just on the retirement
home thing. It's funny because a lot of younger people say,
oh God, I couldn't stand going to a retirement village.
But that's because when you look at it as a
younger person, I imagine it's because you see a whole
lot of people from a different generation. But when it's
(36:35):
your generation who are there, maybe the perspective changes as
you do get older. And Carolyn says, I love being
in my retirement village. I saved the money to give
me a comfortable old age, not leave it to the kids.
They're stoked we're here because we're well looked after and
they only have to visit and not help with the chores.
It's a win win. I love your show, says Carolyn.
Thank you, Carolyn. Actually, I think that is part of
it is that you see if you see an advert
(36:57):
and you look at the older people who seem to
be loving, you know what's going on at the village
and you don't find it appearing. It's because well, it's
because it's not your generation that changed. I guess eventually
when it does look appealing, your notes generation next.
Speaker 5 (37:09):
It's full of old people until you get there and
then it's like you.
Speaker 4 (37:13):
I saw the case actually recently, where wasn't somebody wanted
to buy in in their late fifties or something, and
it was held that they couldn't be aged discriminated against
some of them. I think there's a health reason why
the person needed to go in.
Speaker 6 (37:27):
Oh right, right, yeah, I thought some of them you
had to be over seventy.
Speaker 4 (37:30):
I thought, I don't think.
Speaker 5 (37:31):
Maybe they can't do that anymore.
Speaker 4 (37:32):
I'm not sure if they can do that. Just anyway,
it is about seven minutes to five, which means it's
time for.
Speaker 1 (37:41):
The one roofed property of the Week on the Weekend Collective.
Speaker 4 (37:45):
Well, we had a look at the one roof proper
of the week because it does have more than one
car garaging. It's the address is one seventy six Ridge
Road in Coatsville, and it is one of those houses
that if you won the lotto, you might look at
this because it's got well, it sits over a hectare
and overlooks a valley with an architecturally designed four bedroom
(38:07):
home that makes the most of the views, walls of glass,
separate studio and media room. I quite like that. So
we watch a loud movie, you go into a different part,
not even part of the oh, a separate studio and
a separate media room the way I read that. And
it also features Here's one for booze lovers features a
dedicated whiskey room tucked behind custom steel doors, which is
(38:30):
an interesting inclusion at even in the luxury end of
the market. In fact, I think the last one we
looked at Property of the Week at had an outdoor
bar as well.
Speaker 6 (38:39):
Yeah, outdoor bars and wine cellars are pretty pretty common,
but not that.
Speaker 4 (38:43):
It has an interesting looking has an interesting looking sauna
as well. In fact, it looked like some sort of
spacey tube. But it's a sauna.
Speaker 3 (38:50):
What that was?
Speaker 5 (38:51):
Okay that makes sense?
Speaker 2 (38:53):
Yeah?
Speaker 4 (38:53):
So yeah, anyway, I think it's quite expensive. The one
roof estimate, while it doesn't actually give one, but the
rating valuation, if it's any guide, it says rating valuation
about close around five million five million bucks four and
a half million dollars, which I guess if you win
the power Ball tonight, Nicole, then you know you've got
(39:14):
plenty of change left over from fifteen or sixteen mel Oh.
Speaker 2 (39:16):
Yeah.
Speaker 4 (39:17):
By the way, we have been giving an investment in
property a bit of a raspberry, well I have, that's
your bag? You what is? We haven't left you any
time to talk about it. Really a minute and a
half basically, but basically, how's it shifted? What do we
look at when you've got a client.
Speaker 6 (39:33):
We look for investment properties every single day. We're putting
an office every single day. It's really it's really simple.
You've got to search the deal, not the location. You've
got to look for a property as cash flow positive.
In other words, you've got money left over every week
after you pay your rates, your insurance, your mortgage, your
property manager, and your maintenance. That's what we look for
and that's what we find our clients.
Speaker 7 (39:53):
That sounds like a big ask, it's you've really.
Speaker 5 (39:56):
Got to go through the weeds.
Speaker 6 (39:57):
You know, we're making five, six, seven offers a week
to find the one or two. It's very specific what
you search for and that's what we do.
Speaker 4 (40:06):
Okay, And if people want to get in touch with you,
how they do that, they can.
Speaker 6 (40:10):
Find us at the proberblylifestyle dot com or give me
a call. I love talking property.
Speaker 4 (40:15):
Indeed, which is why you get you in the room
for the one roof radio show. Anyway, Hey, thanks lovely
to see you. And yes, by the way, it's hit
the ninety minute mark, we're into extra time. Worth about
it looks like we are three minutes into extra time
of an extra four minutes, so it's pretty much all
over bar the shouting. I think that probably that's the
one time that metaphor really means something. But we did
(40:37):
score a goal. Elijah just scored a fantastic looking goal.
But unfortunately Belgium scored four of them, and we really
never looked like we were going to win this game.
I'm afraid just from a casual viewing, but my producer,
Locke's been keeping more of a more than a casual
iron it and he agrees with me. We were never
going to win this game, unfortunately, But good on the
all whites, good on Elijah. Just beautiful goal. Anyway. The
(41:00):
parent squad is next Stephanie Powell. We are toking money.
How much oversight should you have over your kids' earnings
and pocket money. We'll be talking about that with Stephanie
after the break. It is just coming out to three
minutes to five.
Speaker 1 (41:19):
For more from the Weekend Collective, listen live to News
Talk SEDB weekends from three pm, or follow the podcast
on iHeartRadio.
You're listening to the Weekend Collective podcast from News Talks, Edbow.
Speaker 2 (00:13):
The bread scams.
Speaker 3 (00:16):
Back to now.
Speaker 2 (00:19):
Okay, were a stabbing unwere shelter?
Speaker 4 (00:41):
And welcome back to the One Roof Radio show. This
is the Weekend Sorry should I say welcome back to
the Weekend Collective? Welcome in if you if you've just
joined us, of course you'll be welcomed in rather than
welcome back. Okay, this is One Roof Radio show. We
want your calls and your text but of course, as
I say, it's one it's news talk, so we'd love
to hear from you, basically to join the conversation with
(01:02):
your recon reckons on the topic of the day. And
the topic of the day to kick off with is
a really simple question, because you'll remember a time when
property I remember it on this show because it was
almost the weekly theme in a way, was what the
market was doing, because there's so much interest from people
in getting into the market and the best way to
(01:24):
do it as an investor and all that sort of thing.
And it was on the backdrop of John Key, who
you remember. I think he had some rhetoric ages ago
about you know, New Zealanders also need to make plans
for their own retirement, and property was the thing everyone
was talking about, what's the property market doing? And it
seemed back back then, I'm not talking that long ago,
(01:46):
that it was simply what it boiled down to was
simply doing the right financial equation where you could get
into another property and then everything would look after itself.
But it does seem the energy has shifted. We've seen
since the peak following COVID that property prices are still
obviously a reason well down on that, and mortgage costs
(02:08):
a higher rates and insurance are going up. Anyway, the
capital gains, it doesn't feel like it's given in the
way that it was. And you'll remember that there we
had guests had said that historically that the property market
would double every eight years, and then it was sort
of like double every ten years. Now I've heard from
forecasters who've said, well, if we just base it on
(02:29):
a three percent capital gain, it's not going to double
for another thirty years. So the short question is, and
this is what we want your tie in on this, sorry,
your involvement in your cause on eight hundred and eighty
ten eighty, and the question is, is property as part
of a retirement planning? Is it dead in the water?
Is now something for which has a higher degree of difficulty?
(02:53):
So for the average kiw really it's no longer top
of the pops when it comes to planning for your retirement. So, yeah,
that's the question eight hundred and eighty ten. To answer
this question and other ones, of course, we're going to
throw at her. She's the founder of Property Quadrants and
property commentator Nicole Lewis is with me today. Nicole, how
(03:13):
are you going?
Speaker 5 (03:14):
Hello? Hello, thanks for having me.
Speaker 4 (03:15):
Well, hot question. I mean, I guess I'm expecting you
you'll push back on the premise. But for the average
key we as it was? Is property investment dead in
the water when it comes to retirement planning? Or how
has it changed? If not?
Speaker 6 (03:30):
I think there's two answers to this question is and
one is is it dead in the water. No, I'm
dealing with those people all of the time that are
buying property planning for their retirement. But it's got a
different outlook to how it used to have.
Speaker 4 (03:43):
Yeah, so it used to be I would say we
never bought ament a retirement property. There we go, We didn't,
But I remember thinking, gosh, if we just sort it
out and get in there. It was the view was,
so long as you get in their job done, so
long as you can keep cover of the rent and
all those sorts of things, job done, property will go
(04:04):
through the roof eventually and you'll have an extra million
bucks that weren't planning on having. Maybe that's an overstatement,
but it is. What's the equation now?
Speaker 6 (04:12):
I think I think people are looking at it the
wrong way. Actually, it's interesting. My father in law is
looking at retirement villages and I went round and had
to look with them, and it made me realize, Oh
my goodness, retirement is super expensive. So I realized, okay,
I went in, I had to look back at my
retirement plan and I thought, you know, capital gain is
not what we should be thinking about for retirement.
Speaker 5 (04:34):
It's actually cash flow.
Speaker 4 (04:36):
So it's actually funny thing is and this is me
repeating things I've said before, but you can't help it.
On a property show that there's similar things come up.
But technically speaking, if you don't want to pay any
tax on the property on the capital gain, you have
to buy it for the income. That has to be
the main purpose of you buying and investment properties for
(04:56):
the income you get from the rent.
Speaker 3 (04:57):
Yeah.
Speaker 6 (04:58):
But also the other equation don't forget is people are
living a lot longer now. So the question is, you know,
if you've got a million dollars, how many years is
it going to last year? And I take you looking
at those retirement villages and it's just a village, not
if you need care or rest home level care, just
a village. I think it was about eight hundred dollars
a month that you're actually paying as your fee as
(05:18):
part of you know, as well as actually buying your
house or your right to live, losing your thirty percent
over three years, and on top of that your eight
hundred dollars a month which goes up every year at
the same percentage the superannuation does.
Speaker 4 (05:35):
Interesting. I have been thinking about having a chat about
the retirement equation as well, from the point of view
of buying into a retirement village. We might actually even
touch on that a bit more. But yeah, So, so
in what way has it changed in terms of investment
for property for for retirement. Has it changed also in
(05:56):
terms of just you know, the amount of money people
think they're going to need. Correct, Yeah, so what do
people what do people want before, did they?
Speaker 6 (06:03):
Well, before it was all about capital going and so
that's sorry to say, that's the old thinking. That's the
old thinking. Yeah, okay, because you think about it, you're
gonna I'm gonna have a million bucks for time I retire. Well,
so what what's a million dollars going to be worse
in that time? And how long is it going to last?
Speaker 3 (06:19):
Now?
Speaker 6 (06:19):
Now, I looked at it and thought, right, now, if
you go into retirement care that goes up to about
fifteen hundred dollars a week, right, and you have to
spend all of your money until you've got two hundred
and ninety left. But I looked at it thinking, okay,
so I need say two three thousand dollars a week
coming in to cover that worst case scenario. So if
(06:40):
you've got enough property and that's coming in, that's all
you need. Then you can live for thirty years. You
can retire at sixty five and live.
Speaker 7 (06:47):
Till your ninety five if you need it to go
into the care home and well yeah, or.
Speaker 5 (06:51):
Even if you want to go into the actual.
Speaker 6 (06:55):
You know, retirement village, because it's all about lifestyle, you know,
especially if you're left on your own then you can
afford to live there for as long as you like.
Because don't forget that fee that you pay doesn't everything.
You still got to pay your food, you still got
to pay your power, You still got to pay your internet.
Speaker 4 (07:09):
So the people that you talk to about property investment,
have they shifted in terms of what their expectations are
and their goals are. What's shifted for them?
Speaker 6 (07:19):
What shifted for them is still is realizing that retirement
is more expensive than we thought it is. We're living
for longer. So if you retire at sixty five and
you're lived till ninety five, that's a long time. You
know how you're going to get your million dollars to
last thirty years?
Speaker 5 (07:35):
It just doesn't Does that.
Speaker 4 (07:37):
Work out to be thirty years? I mean, obviously it's
going to have some capital growth, and you're going to
draw and draw down in the capital as well. A
million bucks divided by thirty is not very much.
Speaker 5 (07:46):
No, No, not much.
Speaker 4 (07:47):
I thought thirty thousand bucks a year.
Speaker 5 (07:48):
No, not much.
Speaker 6 (07:49):
And you still want to enjoy, You want to enjoy
your still hopefully really good health. Up until about I
don't know, my grandmother was she started to go downhill
a little bit at ninety seven, so you know, you
still want to travel and you want to enjoy yourself.
Speaker 5 (08:03):
And that's the thing.
Speaker 6 (08:03):
If you forget about the idea of having capital gain
and property and it'll happen, but by how much we
don't know. And think about having income. You've got that
two three thousand dollars a week coming in every week
for years and years, and it goes up every year
as rint does. That's the way you should be looking
at it. With property investment.
Speaker 4 (08:21):
So we'd love your calls on this. Where do you
view the role of property when it comes to your
retirement planning, Because there was a time when it was
sort of you know, you've just got to get an
investment property, whereas it's not quite so straightforward now eight
hundred and eighty ten eighty. By the way, just an
update on the football. The second half is underway. There's
a yellow There was a yellow card from midfield player
(08:45):
Marco Stammer. Oh I can't even pronounce his name anyway,
he's an all White. By the way. He made a
clumsy tackle so he's on thin ice. Anyway. We've made
a couple of substitutions, including Auckland f C star Jesse
Randall and so hopefully some fresh legs are line it up.
But unfortunately I do have bad news for you that
they've scored another goal. And my producer Lock's been keeping
(09:08):
an eye it. He describes it as a lack of
defensive cohesion has led to the All Whites concetting a
second goal against Belgium. So yeah, right, and apparently poor
decisions allowed him to the Belgian to sneak a shot
into the net from within the six yard box. So
there we go where we are up against it a
big time and let's face it, I mean, we'd have
(09:30):
to be a miracle for us to turn this around
against one of the top teams in the world. Right anyway,
your calls on property eight hundred eighty ten eighty Is
property still part of your investment plan and will? And
if not, will property do you think ever become part
of retirement planning again? Or is it dead in the
water eight hundred eighty ten eighty Right, let's take some calls,
(09:52):
shall we. Shane?
Speaker 3 (09:54):
Hello, Hi, Now, I built my first back house in
Auckland in nineteen eighty when I was twenty two years old,
and it was quite simple back then it's just that
the interest rate was twenty six percent from the Westpac
Bank but at the time. But I've been in the
building industry for fifty odd years and I'm currently a
(10:14):
building inspector. But now, the way I see it, the
only people who can afford an Auckland mortgage, you can't
afford an Authland mortgage on on Auckland salary. And when
it comes to capital games, nobody seems to be talking
about the expenses of owning a property. Because if you
(10:36):
used your own house as security, and you borrowed, say
a million dollars to buy a rental and Auckland, that's
not much of a rental. Now it's going to cost
you probably seventy or eighty thousand dollars a year interest
only in interest, greats insurance, we're into bad tenants and
stuff like that. Our In theory, it's costing you one
hundred grand a year to own that property. Now, if
(10:58):
you bought it for a million today and sold it
for two million dollars until years time, if it actually
doubled in ten years, it's costing one hundred grand a
year to own it. In theory, you've actually made no
profit at all, the only profit you've made is your rent.
But you'd only get about eight hundred dollars a week
for a million hour property, which is only forty grand
(11:20):
a year, and you pay tax on that. So I
believe that gone o the day is a big capital
gains because houses have actually become affordable and they can
only sell them for basically what people can afford. And
if you go to the bank and he says, well,
we can only lend you six times your your income,
he says, well, he might earn one hundred grand a year,
(11:42):
but six hundred thousand is not going to be enough.
He said, but I need a million, And the guy
said just says, well, you can't afford a million. So
where do we go from there?
Speaker 4 (11:53):
Where do we go from there?
Speaker 5 (11:54):
Or we go outside Auckland? Simple sorry to say, yeah done.
Speaker 3 (11:58):
My friends have done. They've moved to Amaru, but it's
their property is going down in value just as fast
as all.
Speaker 4 (12:08):
Yeah.
Speaker 3 (12:08):
So they've got three rental truptings down there, and so
they're in a dire state for the moment.
Speaker 4 (12:17):
Is that? So did they sort of just buy something
with the idea of it just being the equation working
for them and it'll eventually go up, but it's not
working out so well. Where what's the problem for them?
Is the rent not making hour or is it losing value?
Speaker 3 (12:29):
What he's seventeen and they've got three rentals. It gone
down probably twenty percent since they brought them about five
years ago. They had to move to Honue just to
get rid of one of the tenants.
Speaker 4 (12:46):
So it's blimey, it's not good.
Speaker 3 (12:50):
Yeah.
Speaker 4 (12:51):
Is that because they couldn't boot them out, but you
could boot them out if you had you limit yourself. God,
So they actually moved to get rid of a tenant.
Speaker 3 (12:58):
Yeah, And so that was particularly so they're they're trying
to sell the rentals now because they can't afford to
keep them because of the interest rate on their mortgage.
Speaker 8 (13:12):
Yeah.
Speaker 6 (13:12):
And unfortunately, you know that that's a story for a
lot of people. They actually get their investment strategy wrong.
So you never buy a single income property. You buy
a multi income property, and you need to make sure
that your rent, so your rates, your insurance, your property
management fee, your mortgage, and your maintenance are all covered.
And then you've got money left over at one hundred
percent borrowing and those formulas work, we buy them every
(13:34):
week and then you've got some protection island Auckland. No, well,
I never say never, but we search. We've last week
bought in Dunedin and settled one in where did we
settle in the cargo.
Speaker 5 (13:56):
Last week? So you know, never say never.
Speaker 6 (13:58):
But it is extremely difficult in Auckland to have everything
cash flow positive at onehundred percent borrowing. It is possible
if you put in a deposit, but most people use leverage.
So therefore you go outside of Auckland to look for
something that's cash flown. If you've got the cash flow,
you're protected.
Speaker 4 (14:17):
So when you mean by leveraged, so they've leveraged, which
technically means they've got they've borrowed eighty percent.
Speaker 5 (14:24):
Well, they've borrowed one hundred percent, but in.
Speaker 4 (14:26):
Reality they're using their leverage for one hundred percent.
Speaker 6 (14:30):
Correct, So they're borrowing thirty percent against their family home,
for example, and then seventy percent against the investment property
they're purchasing.
Speaker 4 (14:38):
So are you involved in an investment? Are you saying
inspector now, shame? Where are you at worth? Properly?
Speaker 3 (14:44):
I'm too trying to do it now. I've always believed
that the next drupted Crash is just around the corner,
and we've propped it up with immigration in the last
thirty years, starting in about nineteen ninety when when Helen
Clark invited everybody to use it, and it's had a
million dollars so and it did it really didn't. People
(15:10):
made a lot of money in the building industry, but
that forced prices up and now they've become unaffordable to
build virtually.
Speaker 4 (15:20):
Actually, there'll be a lot of people who, yeah, sorry, Shane,
I spoke over you. There there'd be a lot of
people listening who would say that, who would have said
over the years too, it's all fed by immigration, but
that that was a significant part of the pie, wasn't it.
Speaker 3 (15:37):
Now Now we're not as I think we're full, especially
in Auckland.
Speaker 4 (15:47):
Well, Auckland's full, and I think so.
Speaker 3 (15:52):
Because one of the problems is we're building a lot
of town houses and nobody wants The reason they don't
want them is they can't get more than one car
pack and the average There's a street in Auckland that
I go to and it's two hundred meters long and
it's got ten new multi unit developments on it. That's
an extra fifty cars in that two hundred meter that's
(16:17):
asked for fifty houses in that one street, and the
ball only got one car pack. And I say to him, well,
if you can't provide two car packs, no one will
buy your house, because if you come home at six
o'clock at night you can't pack within a kilometer of
your house, you're going to be looking for someone else.
Speaker 4 (16:36):
So you've you've actually raised it, You've quite you've raised
another topic that we're going to be touching on as well, Shane,
because because that was one of the other questions we
were going to look at this hour, which we might
as well throw in there. But because I have a
colleague who bought it's not a town us but an apartment,
and it seems like a because it's affordable. It seemed
like a great first time. But now that he wants
(16:56):
to move, he's struggling because he can't get rid of it.
Speaker 3 (17:02):
And now you've got a situation where there's things are
thousands of multi unit sites, all finished and available to sale,
but they can't sell them. So people who would normally
build those houses normally buy one section, build a house
on it and sell it. Do that maybe twice a year.
Now they've invested. They bought a section for two million dollars,
(17:24):
they've got rid of the house, they've put six units
on it, and now they've invested six or seven million
dollars into that one building site. And they're just ordinary
husband wife families, they're not congomerates. And now they've got
half a million dollars a year interest builts. Yeah, gosh,
that's really scary. You know.
Speaker 4 (17:43):
The other question you've thrown up there is the is
the value of a car pack? Because funnily enough, we've
got the ability in our sort of unit we've got
with a couple of parks downstairs, and we had the
room for four cars. We've reduced it too, and there
was a discussion between my wife and I about whether
we could convert one of those car parks into another room,
(18:03):
which would give us five bedrooms, which is a lot.
But now i'm listening to you, Shane, I'm thinking I'm
glad we haven't, because maybe part of the value in
our property is the fact that it's two car parks.
Speaker 3 (18:14):
Exactly. I go to places and there's tars all over
the footpaths and verges and on the grass on their lawns,
and there's a camera car driving around all day giving
tickets for all these people that are illegally hung by me.
Speaker 4 (18:29):
Yeah, hey, Shane, great care mate, thanks for your thanks
for your insight into that. It's actually not throw that
out to people who are listening, because I've never thought
of this nicole. But what's the value of a car park?
Speaker 6 (18:41):
It is an interesting question, But don't forget to differentiate
because when we talk about townhouses, which are called terraced houses,
usually they come with the garage, so you've usually got
at least single garage.
Speaker 4 (18:51):
He's talking about this one car as opposed to some people.
A lot of people like too.
Speaker 6 (18:56):
Yeah, well that's true, but usually they come with the
garage and you've got a car park out the front,
so you've technically got two. But when you buy a
like a apartment that lent now with the terrace housing
apartment zoning, you actually don't need to provide any car parks,
so that a whole lot of them going up with
no car parks. But in THEHS mixed housing urban or suburban,
(19:20):
you still have to provide car parking.
Speaker 4 (19:22):
Okay, of course, there's a few angles for the conversation
and we'll continue this in just a moment. Oh eight
hundred and eighty ten eighty. Update on the footballs that
I think we've had a yellow card in the fifteen
minutes since the start of the second half. Egypt and
Irana being trading blows, not in terms of goals but
tackles on the field. They're getting pretty intense. But of
(19:42):
course where it all matters for New Zealanders, the All Whites.
We're struggling to defend with the keepers being pretty busy,
and it doesn't look like an optimistic situation for us
at the moment. And I think I saw that we
had we see another yellow card anyway, So I'm scrolling
up through our notes and I'll come back to you
(20:02):
with any further updates. But the most important and update
is it it's two nil Belgium over New Zealand. We'll
be back in just to take news talk, said B.
News Talks hed B eight h ten eighty. We're talking
about the property market and whether the idea of it
being a way to invest for your retirement is an
(20:23):
idea that's dead in the water. But we've had a
few other themes that have come up in the in
the context of the conversation including you know, a lot
of townhouses which don't have a lot of either come
with one park or no one park or in the
case of apartments, no parks, and what's the value of
a car park? But also my guess with Nicole Leersle.
The other question that came up with one of the callers, Shane,
(20:44):
was he who'd been involved with property for years and
years and years, he's now too afraid of it. Actually,
by the way, before we go to that, it's three nil.
Belgium have scored again and scream of a goal. Kevin
de Brune has basically whacked on a beautiful shop from
outside the box into the bottom corner of the New
Zealand goals. Now, so I think the technical expression is
(21:09):
we're screwed. That's it. That's the technical sporting expression.
Speaker 5 (21:12):
But that was a goal to watch, it was a
goal to behold.
Speaker 4 (21:15):
It was quite good anyway. So yeah, anyway, it was
interesting that Shane's talked about fear.
Speaker 7 (21:22):
Yeah.
Speaker 5 (21:23):
Funnily enough.
Speaker 6 (21:23):
Okay, So I had my friends over, we're having a
gin the other day and we're talking about property and
they bought a rental property a few years ago and
they went, oh, my goodness, I can't wait to sell it.
It was going to be their whole retirement plan. And
I said, why why fear? They are actually scared for
the first time probably ever of the labor government getting
back in and the non deductibility coming back, because what
(21:45):
it meant for them was they had to go and
borrow forty five thousand dollars against their family home to
pay their tax bill when their interest was not deductible.
And they're like, man, we can't afford to do that,
We're too sack.
Speaker 4 (21:59):
Maybe how they phase it in because they can't.
Speaker 6 (22:01):
Just whack you straight away it was a seventy five
point fifty five zero and then it just creeps on.
Speaker 5 (22:07):
That's right, that's right.
Speaker 6 (22:07):
So when you've got it effectively a riven u tax,
you've got to pay tax on money you don't have.
That is really scary because it's not like a lot
of these mum and dad investors. They've got a job.
They can't go and earn an additional forty five thousand
dollars after tax to pay tax.
Speaker 4 (22:23):
I think that's one of the problems when it comes
to just generally investment and property. And I don't mean investment,
just people, you know, sticking money in and then pulling
a lot more out. I mean, people in New Zealander
is investing in more housing. I think that you do
wonder whether that's going to have a delayed effect where
it suddenly bites us in the bum and we don't
have enough people putting money in because it's look, it
definitely political uncertainty.
Speaker 6 (22:44):
It'll bite us in the bum in two different ways too,
because my friend is the exact demographic that we're trying
to encourage to save for their retirement. And so then
what the government did is discourage that whole demographic that
should be encouraged, and then you've got fewer rental properties
as well. So it's sort of like it's the first
(23:07):
time ever people are actually scared of what might happen.
Speaker 4 (23:11):
I mean, because fear can I mean, it's funny, isn't
it that the fear of not having enough to retire,
retire and can motivate you as well. And it seems
that fear can be a motivating thing in all sorts
of directions, but now it's driven by political uncertainty. Exactly
eight hundred eighty ten eighty. Your thoughts on that as well,
and let's go to by the way. We've also been
talking about where the townhouses and apartments are a good
(23:35):
first time choice when you may actually have trouble selling them,
when you've decided you finally have got a bit more
money to move move on with eight hundred eighty ten
eighty Chris Solo.
Speaker 8 (23:45):
Yeah, Hi, a townhouse. They're building them everywhere, and I
understand that, you know, I've heard of people trying to
sell them, and they take more longer than they than
selling an ordinary house.
Speaker 3 (23:58):
For the lawn.
Speaker 8 (24:00):
I don't see they you and them there. I've been
through a few. They're so tiny you couldn't even swing
a can in it, and you don't have any privacy.
It's like, oh, there's a neighbor. You know, you just
you know, look out there, look out there, and you
just you just don't you know, you see the nose
of the neighbor, and it's really embarrassing living with hearing
(24:25):
noises and someone's vacuum cleaner going at three o'clock in
the morning, or you know, it's.
Speaker 4 (24:30):
Just are you are you luckily I'm not.
Speaker 8 (24:35):
Luckily I'm not. But I see a lot of them
around here. They're getting built, and I don't see what
owners see in them, and the reason why they don't
sell is exactly. I wouldn't even put my dog in
there to live with me. Yeah, it's a hot take.
Speaker 4 (24:50):
I guess they sell in the first place because they're
home for someone and they're affordable compared to well, because cost.
It's a supply and demand.
Speaker 8 (24:59):
Well maybe you would have heard about a few months ago.
I heard a guy brought one for six hundred thousand
and put it on the mark. Well, he bought it
for six hundred but went to sell it and he
had to go at a two hundred thousand dollars loss
because he couldn't sell it, and it took four or
five years to sell it.
Speaker 6 (25:20):
You see, it does depend on the cycle though, So
don't forget twenty twenty one was hot. We had one
of the biggest updomes and property ever, so people who
bought in twenty twenty one townhouse or not everything as
taking losses now because we had one of the bigger
drop than the global financial crisis in twenty twenty two.
Speaker 5 (25:36):
So that's a big factor.
Speaker 8 (25:38):
Okay, Well, so what's the point of buying one then?
If someone's going to go to a loss buying one
in the first place, But you go and buy one yourself, Well,
you've got a good deal. But I just don't see
the benefits of owning one. If I wanted to sell
in the future, that's all, what.
Speaker 4 (25:54):
Have you got? What do you own?
Speaker 8 (25:56):
Well, look, I don't own a house. Our boys wanted to,
and I guess they're all the money that's gone through
my hands. I could have got one by now, I.
Speaker 4 (26:04):
Mean, I mean that's why wouldn't maybe a townhouse or
apartment be better than nothing? Better than nothing because you're
actually sort of your rented game.
Speaker 8 (26:14):
For single people. I wouldn't recommend for families. I don't
think you've seen many mums with talk kids or wife
and husband buying them. I don't know. Maybe it's a
new train now that maybe they're out there to attract
people to live a easy lifestyle.
Speaker 4 (26:35):
Well, lock and leavers, they say, Chris, no maintenance.
Speaker 5 (26:38):
You're always going to get some people that love.
Speaker 7 (26:40):
That sort of thing.
Speaker 4 (26:40):
Actually, because I've noticed around well not well my neighborhood
that they've got any of apartments going up. They're generally
pretty flash and you'd think I'd love a piece of
that but what's how would you make a what is
it that makes some apartments and I'm guessing they're probably
the elite ones that have been beautifully built, you know,
a great position. Location, Yeah, location, location, And it's does
(27:05):
it go back to that whole thing because one of
the things we were talking about in the break is
the problem with apartments in townhouses, well apartments more so,
is that the value of your properties a lot of
the time it's in the land. That's right.
Speaker 7 (27:17):
You've got no land, so you've.
Speaker 4 (27:18):
Got a tiny slice of an interest in land, but
nothing compared to someone who's got a something that sits
on its own patch a too.
Speaker 6 (27:25):
Mean, they definitely don't go up as much as a
house on a piece of land. They never have if
you look historically. And also with apartments, you've got your
body corp. And so what happens over years a building depreciates,
which means your body corp goes up because the maintenance
goes up, and that can make it unaffordable for people
and also very unattractive for someone to buy in an
(27:46):
older building. So that's another consideration that's apartments, though townhouses
a little bit different.
Speaker 4 (27:53):
It'd be interesting to see when if it ever does
change that the car park is not so important. It
depends because look, if you're in London.
Speaker 5 (28:03):
Yeah, but look at their chance.
Speaker 4 (28:05):
No that well, that was exactly what I was going
to say. You could have a fantastic I lived in
a place called angel and if you had a Georgian
sort of terrace thee consider yourself the luckiest person in
the world. And of course there's no car park, but
you had the best transport. You know, just walk out
and there's a bus there. But that's the problem with
Auckland is that even though we're going to get the
(28:26):
CRL and I can see that if you were someone
who lived near a transport hub, then bingo, fantastic appears where.
Speaker 6 (28:33):
You want to go though, because you know, like the
North Show has not got very good transport system.
Speaker 4 (28:39):
So that's the whole thing.
Speaker 6 (28:40):
I mean, the parking rides are great, but you've got
to get there.
Speaker 4 (28:42):
Yeah. So you know this text heress item. There's a
listing in Lyle Bay, Wellington where the developers saying they're
no longer going to include car parks and their future
developments because downsizes have told them they they wanted. There's
a bit of a grammatical area here, single level, three bedrooms,
two bathrooms, low maintenance, off street parking, freehold ownership when
(29:06):
these homes are built has been the first time buyers
who have stepped forward and secured them.
Speaker 6 (29:09):
But don't forget off street parking as a car park.
Speaker 4 (29:11):
Yeah, no, I don't know what that. I think there's
a word or two missing in that text.
Speaker 5 (29:15):
Actually maybe they mean no off street park.
Speaker 4 (29:17):
Yeah, anyway, I'll see if it.
Speaker 6 (29:20):
I mean, you look up the percentage how many New
Zealanders have a car then and we'll usually most families
have got two cars.
Speaker 4 (29:27):
Anyway, Andrew says he had the final sentence of his
text is the future developments will instead focus on two bedroom,
two story house at townhouses without off street or without
off street parking. Right there we go, h interesting, interesting
new world, isn't it?
Speaker 6 (29:42):
Will be interested? I do think a lot of people
won't buy if there's no parking. Yeah, because people, especially
in Auckland, they're still have a car.
Speaker 4 (29:52):
Would you ever, Well, because you mentioned we were talking
about retirement living, but they have car parks. Yeah. But
one of the one of the I was talking to
someone who knows a bit more about retirement living than
I do. And his point was like, why would you
go into a retirement village when they've got such a
lousy deal on what you buy into because there's no
guarantee the care home is going to be available when
(30:13):
you need it. He's just going to buy an apartment.
Speaker 6 (30:16):
Now, financially they're terrible, shocking, but you know, people go
into it for lifestyle. They want, you know, they want companionship.
They're with their partner dies, they're by themselves. They want
to be with someone else. They love the activities, the
atmosphere that's put on.
Speaker 5 (30:31):
You know, people love that.
Speaker 6 (30:33):
I mean, look, my grandmother finally went into a retirement
village when she was ninety seven, and she said to me, oh,
I should have done that sooner. I said, yeah, maybe,
you know, she loved the companionship. Okay, ninety seven though, do.
Speaker 4 (30:45):
You go see who the companions are. I don't know
what other people idea. I mean, it's obviously not something
I'm thinking about right now. Anyway. Anyway, it's twenty to five,
we'll be back. And just to take an update on
the football, it's still it's three nil Belgium New Zealand
and it's where at the seventy seven minute mark. It
looks like there's a free kick to Belgium where all
the boys are lining up in the traditional pose of
(31:08):
making sure they don't get hit where it hurts. There's
a wall of about seven all whites there and yeah,
we'll see what happens in just a moment. But it's
news talk, said B. Nineteen and a half minutes to five. Yes,
news talk, zaid B. Now, Nicole, we have touched on,
you know, townhouses being a tough sell sometimes and maybe
(31:31):
something that's related to our street parking or just the
fact that you know, once you've bought a townhouse, the
next thing it's yesterday's news and the next townhouse development
comes up for apartments? True, what would you have any
guidance to offer people that if they're looking to get
into something like a townhouse or an apartment, What is
it that might make that particular development one that's going
(31:53):
to stand the test of time, that will actually still
have interest when you come to sell it.
Speaker 6 (31:57):
Okay, to be to be fair, if I am talking
to a property investor, I say, do not buy one,
just don't go there. Nothing will make it good. Yeah,
if I'm talking to a home buyer. Then it boils
down to location, but not so much location as in
let's go buy in the best part of the country
(32:18):
that there is, location as in where do they want
to live? Because really all an apartment is is a
lifestyle choice. You can like first home buyers, My nephew
just bought one. He just bought a townhouse because that's
what he could afford to buy. Very cool, he's got
his first house at twenty seven. I think that's amazing.
Good on them, and that's what he could afford to buy.
So better to buy that than nothing. I think that's
(32:38):
a good move if you want to live in it.
But if you're going to invest in something, just don't
buy anything as a way in a townhouse?
Speaker 4 (32:44):
Yeah, what makes so what is it that people are
looking for with apartments? You know that are going to
hold their value? I mean, obviously if you've got some
sort of parking, let's not get obsessed with the parkingus.
Speaker 6 (32:54):
Be those if you've got a bit of land like
as well, like some of them actually, like I had
some clients that bought one to live in, but it
was the one on the corner and it actually had
like four hundred square meters of land. Now that's fantastic.
That will probably go up in value because none of
the others do have any land, So it's it's And
there are certain locations where they are still selling so
(33:18):
close to beaches or things like that.
Speaker 4 (33:21):
Yeah, somebody's pushed back against that text one of the
I think one of the points of view saying nonsense.
Tim In Auckland they're struggling to sell townhouses and apartments
without proper garages and parking. I guess it's do you
think there'll ever be a change in the zeitghust on
that or do you think that that's going to be
a problem long term?
Speaker 6 (33:39):
Look, I have to say, I think it's really boils
down to a personal preference. You know, would I myself
buy something without a car park? No, because I've got
three cars. You know, would someone else who doesn't have
a car buy Of course, it's not going to worry them.
Speaker 5 (33:53):
Do I look at it? Would I buy it for
future value?
Speaker 1 (33:57):
It?
Speaker 6 (33:57):
Look, it depends how long you're going to hold a
property as well, if you're going to sell it within
a couple of years, as touch and go as to
whether you'll make money or lose money, depending where you
bought it on the cycle. If you're going to keep
it for ten or twenty years, you always going to
make money no matter what.
Speaker 7 (34:09):
You just don't know, by the way, just.
Speaker 4 (34:12):
On the football, the comeback is on. It's three to
one and look we've got at least ten minutes. I'm
not sure who scored that goal. I produce a local
left till he scored that one. That was Elijah, just
the same bloke who scored two goals. Just oh my god,
he's had a great tournament. Wow, he's just scored another
goal in the World Cup. So it was a beautiful
(34:34):
looking goal, to be honest. If we could just have
a couple more in the next five minutes, No, we
need three more. And yeah we've got what is it,
the eighty four minute.
Speaker 7 (34:43):
Mark, but you know that's plus extra time.
Speaker 8 (34:45):
Come on.
Speaker 4 (34:46):
So those New Zealand soccer fans, look, Elijah just great
player and he's scored a beautiful goal. And that is
something of a consolation because we're not going to be
getting through to the final thirty two, are we because
Belgium on the Belgium have been just too good really,
So anyway, let's have a lot a few texts here, Hi,
(35:08):
James here, Just wait until people are running extension cords
across the footpath to charge their cars.
Speaker 3 (35:13):
Ha ha ha ha.
Speaker 4 (35:17):
Yeah, that does sound problematic. I don't imagine that'll happen.
Of course, another person, Bradley reckons He says, I purchased
my apartment in twenty twenty one and it's up one
hundred thousand. It's very cheap living. Tell that snob to
keep swinging his dog and his rental and leave the
cheap homes for the rest of us. That does sound
(35:37):
like an unusual story in twenty twenty one for something
to be up one hundred thousand dollars. By the way,
I don't think my caller who was having a crack
at it was I don't think he was being a snob.
Speaker 6 (35:45):
No, he just didn't like townhouses and that's fine personal preference.
So yeah, it is interesting having gone up in value.
Speaker 4 (35:53):
Well, I've got another update. There has been another goal
scored by Belgium, so we just got one to make
it three to one, and it looks like pretty much
you know, within moments later Belgium have gone and scored
in reply to ours, So that's a bit of a bummer,
isn't it anyway? Eight hundred and eighty ten. E to
(36:13):
tell you what we might just quickly quickly go to
the break. It's eleven minutes to five news talks. He'd
be yes news talk, said, be just on the retirement
home thing. It's funny because a lot of younger people say,
oh God, I couldn't stand going to a retirement village.
But that's because when you look at it as a
younger person, I imagine it's because you see a whole
lot of people from a different generation. But when it's
(36:35):
your generation who are there, maybe the perspective changes as
you do get older. And Carolyn says, I love being
in my retirement village. I saved the money to give
me a comfortable old age, not leave it to the kids.
They're stoked we're here because we're well looked after and
they only have to visit and not help with the chores.
It's a win win. I love your show, says Carolyn.
Thank you, Carolyn. Actually, I think that is part of
it is that you see if you see an advert
(36:57):
and you look at the older people who seem to
be loving, you know what's going on at the village
and you don't find it appearing. It's because well, it's
because it's not your generation that changed. I guess eventually
when it does look appealing, your notes generation next.
Speaker 5 (37:09):
It's full of old people until you get there and
then it's like you.
Speaker 4 (37:13):
I saw the case actually recently, where wasn't somebody wanted
to buy in in their late fifties or something, and
it was held that they couldn't be aged discriminated against
some of them. I think there's a health reason why
the person needed to go in.
Speaker 6 (37:27):
Oh right, right, yeah, I thought some of them you
had to be over seventy.
Speaker 4 (37:30):
I thought, I don't think.
Speaker 5 (37:31):
Maybe they can't do that anymore.
Speaker 4 (37:32):
I'm not sure if they can do that. Just anyway,
it is about seven minutes to five, which means it's
time for.
Speaker 1 (37:41):
The one roofed property of the Week on the Weekend Collective.
Speaker 4 (37:45):
Well, we had a look at the one roof proper
of the week because it does have more than one
car garaging. It's the address is one seventy six Ridge
Road in Coatsville, and it is one of those houses
that if you won the lotto, you might look at
this because it's got well, it sits over a hectare
and overlooks a valley with an architecturally designed four bedroom
(38:07):
home that makes the most of the views, walls of glass,
separate studio and media room. I quite like that. So
we watch a loud movie, you go into a different part,
not even part of the oh, a separate studio and
a separate media room the way I read that. And
it also features Here's one for booze lovers features a
dedicated whiskey room tucked behind custom steel doors, which is
(38:30):
an interesting inclusion at even in the luxury end of
the market. In fact, I think the last one we
looked at Property of the Week at had an outdoor
bar as well.
Speaker 6 (38:39):
Yeah, outdoor bars and wine cellars are pretty pretty common,
but not that.
Speaker 4 (38:43):
It has an interesting looking has an interesting looking sauna
as well. In fact, it looked like some sort of
spacey tube. But it's a sauna.
Speaker 3 (38:50):
What that was?
Speaker 5 (38:51):
Okay that makes sense?
Speaker 2 (38:53):
Yeah?
Speaker 4 (38:53):
So yeah, anyway, I think it's quite expensive. The one
roof estimate, while it doesn't actually give one, but the
rating valuation, if it's any guide, it says rating valuation
about close around five million five million bucks four and
a half million dollars, which I guess if you win
the power Ball tonight, Nicole, then you know you've got
(39:14):
plenty of change left over from fifteen or sixteen mel Oh.
Speaker 2 (39:16):
Yeah.
Speaker 4 (39:17):
By the way, we have been giving an investment in
property a bit of a raspberry, well I have, that's
your bag? You what is? We haven't left you any
time to talk about it. Really a minute and a
half basically, but basically, how's it shifted? What do we
look at when you've got a client.
Speaker 6 (39:33):
We look for investment properties every single day. We're putting
an office every single day. It's really it's really simple.
You've got to search the deal, not the location. You've
got to look for a property as cash flow positive.
In other words, you've got money left over every week
after you pay your rates, your insurance, your mortgage, your
property manager, and your maintenance. That's what we look for
and that's what we find our clients.
Speaker 7 (39:53):
That sounds like a big ask, it's you've really.
Speaker 5 (39:56):
Got to go through the weeds.
Speaker 6 (39:57):
You know, we're making five, six, seven offers a week
to find the one or two. It's very specific what
you search for and that's what we do.
Speaker 4 (40:06):
Okay, And if people want to get in touch with you,
how they do that, they can.
Speaker 6 (40:10):
Find us at the proberblylifestyle dot com or give me
a call. I love talking property.
Speaker 4 (40:15):
Indeed, which is why you get you in the room
for the one roof radio show. Anyway, Hey, thanks lovely
to see you. And yes, by the way, it's hit
the ninety minute mark, we're into extra time. Worth about
it looks like we are three minutes into extra time
of an extra four minutes, so it's pretty much all
over bar the shouting. I think that probably that's the
one time that metaphor really means something. But we did
(40:37):
score a goal. Elijah just scored a fantastic looking goal.
But unfortunately Belgium scored four of them, and we really
never looked like we were going to win this game.
I'm afraid just from a casual viewing, but my producer,
Locke's been keeping more of a more than a casual
iron it and he agrees with me. We were never
going to win this game, unfortunately, But good on the
all whites, good on Elijah. Just beautiful goal. Anyway. The
(41:00):
parent squad is next Stephanie Powell. We are toking money.
How much oversight should you have over your kids' earnings
and pocket money. We'll be talking about that with Stephanie
after the break. It is just coming out to three
minutes to five.
Speaker 1 (41:19):
For more from the Weekend Collective, listen live to News
Talk SEDB weekends from three pm, or follow the podcast
on iHeartRadio.
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