April 11, 2026 • 41 mins
The tide has well and truly turned.
We've had analysts forecasting a plateau for much of this year, with rates starting to turn upwards near the end of the year.
One thing is for sure - we're not too likely to see the OCR go any lower than where it already stands.
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News Talk SEDB.
Speaker 2 (00:42):
Guess, welcome back to the Weekend Collective. I'm Tim Beverage.
Now welcome to the one Roof radio show. We want
your calls of course on our one eight ten eighty
and text nine two nine two nine two A little
bit of Leonard Skinner is actually I love that we
actually give our guests often the choice of music to
start the hour. It's amazing how much retro sort of
rock were getting. I think probably it's still well that's
(01:06):
sort of retro rockish, isn't it. But it's hard to
go part What was it?
Speaker 3 (01:09):
What was?
Speaker 2 (01:09):
What's the the motorhead one ac DC which has almost
become my theme June. Anyway, Look, we have a new
guest on the show. How I'll be introducing to you
in just a moment. And look we've had you would
have seen the headlines on the cash rate. We've had
an analysts forecasting a plateau for much of this year,
with rates starting to turn upwards near the end of
(01:30):
the year. Now, notably the Reserve Bank have made an
announcement on the cash rate and everyone was a bit
nervous because there's all these inflationary pressures to do with
the run and which is not helping the government's cause
when it comes to inflation. So there was a little
bit of casual sort of questioning about, oh goodness, me
are the reserve bank and have to step in to,
(01:51):
you know, say, look, we're gonna have to pop that
cash rate up earlier than we thought, but they kept
it the same. And I don't know about you, but
my thinking, as a non expert in this in this
sort of space, but having hosted a property hour for
a few years now, is cheap money in the past
(02:11):
has led to a booming market, but of course we're
not seeing people pouring back in. So if you are
someone who's looking at getting into the market, does the
interest rate does it play a part? What is there
anything that's holding you back? Or are the other things
at play to do with I don't know, just job
markets and inflation and what that means for what's happening
(02:32):
in Iran and everything. We want to know what you
think on eight hundred and eighty ten eighty or text
nine two nine two and joining me. She is the
head of operations at al J. Hooker and her name
is Elaine Burkett and she's with me. Now, good Eylane.
Speaker 3 (02:44):
How are you going? Hey?
Speaker 4 (02:45):
Really good things?
Speaker 2 (02:45):
Hey, let's little bit about you. So your head of
what is head of operations at AL J. Hooker? Sounds
like you have to keep an eye that everyone you're
keeping an eye and everyone else.
Speaker 4 (02:55):
Yeah, I certainly do. It's it's like having a helicopter
view over the entire company.
Speaker 2 (03:00):
Do you get to sell?
Speaker 3 (03:01):
No, I don't.
Speaker 4 (03:02):
I am licensed. I'm a licensed agent now, but I
haven't sold for fourteen years or so. I've worked in corporate.
Speaker 2 (03:09):
Yeah. So how did you How did you get involved
in real estate?
Speaker 3 (03:12):
Oh?
Speaker 4 (03:12):
It's one of those stories when the kids have all
gone to school. Yeah, wanted to get back into work
and I began working at a real estate office.
Speaker 3 (03:22):
Loved it.
Speaker 4 (03:23):
High energy, you know, salespeople are so driven and wonderful energy.
And yeah, exually did that was a good pathway.
Speaker 2 (03:31):
How Actually, I can imagine if you've you know, you've
been going through the whole sort of thing with family
and stuff, and you get into this new environment and boomfit,
all of a sudden you're in this chart.
Speaker 3 (03:40):
I imagine.
Speaker 2 (03:41):
Is it a bit of an addiction for people when
they get into that environment and they're just that's it.
They're helped.
Speaker 4 (03:46):
Yeah, I guess so, I guess you could say that
it could be life changing for people.
Speaker 2 (03:51):
Yeah.
Speaker 4 (03:52):
You know, you only have to study for around six
months to become licensed and it comes unlimited if you're
working hard.
Speaker 3 (03:59):
So tell us.
Speaker 2 (04:01):
So, the head of operations at al J. Hooker, what
specific le do you? What is your job?
Speaker 3 (04:06):
Then?
Speaker 4 (04:07):
Well, I lead the country, so I look after network
performance of our officers. It's a franchised operation. Yeah, and yeah,
give guidance, lots of compliance guidance, so all the fun stuff.
Speaker 2 (04:20):
Hey, so, what is what is your take with what
the market is doing right now? Because we, I mean,
we have been through some over the last few years,
some incredibly heady times. A lot of that was driven
by cheap money. Okay, money isn't as cheap as a member.
Speaker 3 (04:36):
The what was that?
Speaker 2 (04:37):
What was that cheapest interest rate that some people did
lock in for five years? Was that it wasn't the
two was it two point nine to five or even
something less than that?
Speaker 4 (04:45):
And it was so tempting for people, you know that'll
been at home thinking about their life and how they
can improve it through COVID. They all came out, bought
a new boat, brought a new house.
Speaker 2 (04:55):
What are the expectations? So at the moment where at
the cash raid is what two point two five percent?
I think? Is it the oci?
Speaker 4 (05:02):
Yeah, it is.
Speaker 2 (05:04):
What would nor the expectations around a cash rate like that,
because that is pretty cheap money, isn't it. I don't
know what it was like when you started real estate,
but I had a friend who said that they used
to always think they had to budget for a possible
borrowing rate of up to eight percent. With a cash
rate of two point twenty five percent and borrowing around
five percent, what's your take on it? And yeah, yes,
(05:27):
I think.
Speaker 4 (05:28):
You know, there's a bit of a paradox. We've got
potentially rising interest rates, and you know that should be
creating some urgency. There should be that buy now before
it gets worse sort of thing. But in the reality,
it's the opposite, And it's all around confidence in the economy,
isn't it.
Speaker 2 (05:46):
So it's not the fact that so much the fact
that I can borrow cheaply. It's that I might be thinking, yeah,
I'd love to get a cheap mortgage right now, but
I'm not sure, I'm going to have a job in
six months? Is it that type of thing?
Speaker 4 (05:56):
Affordability is already stretched now, so you know, even if
people expect rates to rise further, current mortgage rates are
already pretty pretty big, you know, the one where one
year rates around five and a half percent. I think
a cheap rate floatings closer to six. So they're already
stretched at the moment.
Speaker 2 (06:16):
So what would okay, so is it so? What is
it going to? I mean, I'm not sure that we
It's all about getting your expectations right, isn't it. Because
we've lived through some times when the market has been
you know, we've seen some really heady times, haven't we,
with very steep growth price rises. Is there just a
(06:37):
new normal for the market now that I don't know,
It does seem that there's a hell of a lot
less hysteria over it. What have you noticed in the
last Well, let's just go from before COVID to what
we saw with cheap money and then where we're at now.
Speaker 4 (06:51):
Yeah, so we you know, we saw pressure on the market.
We saw people wanting to make a quick decision leap
into it, paying higher prices. Remember the market prices are
always driven by the market, not the agencies, not the seller.
It's what someone's going to pay. So when we've got
that fear of missing out, that's when we're seeing prices rise.
(07:11):
And at the moment, we've got a lot of properties
on the market, so there's a lot of choice, and
buyers just don't have that urgency. They can sit there
and see something they like and it'll probably be there
in another two weeks. There's not that urgency to leap.
Speaker 2 (07:25):
Into it, or two months even.
Speaker 4 (07:27):
It could be.
Speaker 2 (07:30):
You're entitled to put a slightly more seller spin on it,
I guess. I mean, if I said, if you're looking
for a house, it is quite likely it's going to
be there. I mean, what is the average selling time
for a house at the moment?
Speaker 4 (07:42):
I mean it varies all over the place, but now
you know, locally in my neighborhood, perhaps forty to fifty days.
Speaker 3 (07:49):
Forty to fifty days.
Speaker 2 (07:51):
That's not business days, is it.
Speaker 4 (07:53):
No, they in real estate business is seven days a week.
Speaker 2 (07:58):
Well, it's actually, to be honest, six weeks. I wonder how,
I mean, back in the days when things are a
bit crazy, I mean, people be selling things. I know,
I know obviously we were dealing with headline stuff all
the time on this show that people would say, Oh,
I put my house on the market, somebody off for
me two hundred thousand and the next day extra and
I sold it with a click click click. But what
what is the range of you know, in busy times,
(08:20):
what are the average selling times compared to what we're
seeing now? Any I always say guidance on that.
Speaker 4 (08:25):
You know, people love to sell by auction when they
know that they're going to get a sale. Yeah, so
we see those timelines reduced down to sort of thirty days,
and it matches that auction program.
Speaker 2 (08:35):
Yeah, actually that's not we necessarily had that slated for conversation.
But have you noticed the methods of sale have changed?
So I've had a I mean I've mentioned this before
at a Mate of mind. He bought a house and
it was the worst of situations. Here's the first time
buyer and it goes you know, they put a deadline
on it, and then all of a sudden there's this
(08:56):
blind auction situation. And I was chatting to him and
I said, God, you'd almost wish you were buying it
auction because at least and you see what the other
bidder as as opposed to can you just put your
best offer in please?
Speaker 4 (09:05):
Yeah, sure, sort of turns into a tender and dragg
doesn't it.
Speaker 2 (09:08):
It is a bit like that, And is that happening
quite a bit these days with well.
Speaker 4 (09:12):
When that's multiple offer that you're talking about. Yeah, yeah,
so that does happen, but probably not so much in
this market or in the Auckland market. You know, we're here,
so we're probably focused on Auckland.
Speaker 2 (09:24):
Right, yeah, well, no effort, We're we're on the hop
around the whole.
Speaker 3 (09:28):
Country of course.
Speaker 4 (09:29):
But when we're talking about local experience.
Speaker 2 (09:32):
Oh yeah, ah, funny enough, No, it was a friend
is a different markets actually.
Speaker 4 (09:37):
Believe right, yeah, So that's bucking the trend.
Speaker 3 (09:40):
And christ Is what's it doing? Well?
Speaker 4 (09:42):
It always sort of goes the opposite to the rest
of the country and it's gang busters there and you know,
I don't know if you've visited recently. I was down
there in December and it's a beautiful city. It's bustling
that people are returning and there's positivity and that helps
with the market.
Speaker 2 (09:58):
So what's different about christ Church that to the rest
of the country then, because they've got same interest straits?
Is it simply because christ Church has been you know,
I mean it's been through the mill and you know
ever since the earthquakes?
Speaker 3 (10:15):
What is it?
Speaker 2 (10:15):
What is it about christ Church? What's what's making it
rock and roll? I mean people aren't going there because
I've got a new stadium suddenly.
Speaker 4 (10:22):
Yeah, there's heaps of growth. You know when we look
out Rolliston, that's just stretching all around the new stadium.
Beautiful homes they are going all that central city living available.
Speaker 2 (10:33):
Yeah. Yeah, because it's funny how you know how it
used to be that Auckland would be the market. When
Auckland would you know, start then everyone else would follow.
It was christ Church and the new Auckland. Now we're
going to be so yeah, we'd love your cause on
this though, But because as we know as well, I'm
not going to suddenly throw data at you. But people
are not exactly pouring back into the market at the moment.
(10:56):
Is now the time to get stuck in? If you
are looking at getting into a house, or maybe you're
an investor and you're thinking you might just you know,
you might get into it, what is it that's not
working for you? Because the money's cheap. Is it's still
a question that the price is not right and maybe
that's that maybe that is the difference in fact, actually,
Elaine with christ Church. I mean the thing with christ
(11:19):
Church is that prices are you know, probably seen as
more affordable to the average person compared to Auckland's still
a bloomin expensive city, isn't it.
Speaker 1 (11:27):
Yeah?
Speaker 4 (11:28):
Absolutely, I think you know there's more choice there.
Speaker 2 (11:30):
Okay, we love your calls on eight hundred and eighty
ten eighty. You can text on nine two nine two. Well,
shall go to the calls or texts as soon as
you want to drop us a line. Eight hundred and
eighty ten eighty text nine two nine two. Got a
new guest with me. She is Elaine Burkett. She's l J. Hooker,
head of operations. And the question is money is still cheap?
(11:54):
The interest rates haven't gone up yet. Why are people
not pouring into the market or do you think that
this is one of those magic times where we'll look
back on and the person who got stuck in as
the one who's going I told you so. Oh eight
hundred eighty and eighty text nine to nine two. It's
eighteen minutes past four, give us a call News Talk
(12:15):
z B. Welcome back to the One Roof Radio Show.
Now we just to let you know we have a
bit of a problem at the moment with our telephones.
You can actually ring a but we're having a problem
processing audio and I'm not sure what exactly what's going on,
but we will let you know because I think that
while people are getting through, we're unable to hear them
(12:36):
at the other end of the line. So we've got
our technical people onto that, so good news. Probably a
nightmare scenario for a brand new guests on the phone,
but it's you and me Elaine Lane Burkett from LJ. Hooker,
head of operations, So we've got lots we can talk about.
Let's shall we get into it? Shall we? Hey? So
I guess that my question is interest rates ocr two
(12:59):
point twenty five. It's it's not going to go down.
So here's a question.
Speaker 3 (13:04):
It's there'll be some.
Speaker 2 (13:05):
People who'll be listening to this. Who will be because we've,
you know, as New Zealanders, we've been through ups and
downs and you know, these incredible price rises and stories
of people making and losing a lot of money or
not generally making a lot of money. Actually, be honest,
is this the way we like the market? That we're
a bit more because I reckon the average key we
(13:28):
real estate agents wouldn't necessarily. I mean, as long as
you're selling and buying, that's what you want to do,
that's the business you're in. But for the average punter
who's not an investor, I think there'd be a lot
of people who'd sort of be reason or at least
from the buying point of view, who quite like the
market like this. There's no frenetic energy prices, there's not
(13:50):
the second guessing on, you know, hold on to your
property for another three months because the market's going to
go gangbusters. It's just steady as she goes. Is there
a certain segment of the public who love the real
estate market right now because it's just not doing much?
Speaker 4 (14:04):
That's maybe buyers think our sellers would know be liking that.
Speaker 3 (14:09):
I mean, that isn't it.
Speaker 2 (14:11):
That's the whole point, isn't it, Because for every buyer
there's a seller, and you guys act for the sellers.
Of course, what is the sense when it comes to
people thinking about putting their houses on the market. Are
they holding off or because we got a lot of
stock on there.
Speaker 4 (14:26):
Look, I think as soon as we saw the invasion
in Iran, we saw people stop making decisions. There were
buyers who had been talking about, you know, making a
decision buying. We had people lined up ready to list.
As soon as those bombs dropped and there was uncertainty
and we thought interest rates might go up and inflation
(14:47):
might worsen, they put their decision making on hold.
Speaker 2 (14:51):
Who put the decision making the sellers or the buyers?
Speaker 4 (14:54):
Well both, Yeah, the buyers are worried about affordability. Do
you remember ten years ago we were saying to first
home buyers, you know, give up your avocado toast so
that you can buy your first home. Yeah, I mean
you know they've given that up to put petrol in
the car, so there's not much left to cut.
Speaker 2 (15:12):
Okay, that puts an Affairly, that puts an affairly blunts
it away, isn't it? As you say, they've given it,
So what's it going to?
Speaker 3 (15:22):
How much?
Speaker 2 (15:24):
You were saying that? That's really as soon as the
bomb started to drop, that was a noticeable difference. Was
it was it people literally pulling out of a contract
that was conditional on something. They went oh, well, you
know some people pausing.
Speaker 4 (15:37):
Yeah I did that personally, looking at investments and thinking
I'll just pause, I'll just wait.
Speaker 2 (15:43):
Really yeah I did. Okay, So what would it take
for you to be back into that side of things.
Speaker 4 (15:47):
Well, I think our buyers, as soon as they think
the market's bottomed out, they'll want to get in, and
you don't know till it's there, right, so until the
values start increasing, and I mean, let's be honest, there
were there was some increases in February and early March.
We were seeing the prices get back. You know, we're
(16:08):
just in a new normal and off the back of
that erratic time when everything was selling for moonbeams. You know,
it feels like a very low market, but actually it's
a normal market.
Speaker 2 (16:20):
How many are people, generally, in your view, trying by
the way, we fixed our phones, so if you want
to jump on the blow and share your thoughts on things, all,
it's all done now eight one hundred eighty ten eighty God,
I forgot what I was going to say. It's completely gone.
But when in terms of oh, that's right bottoming out people,
(16:43):
how many people actually really care about, you know, the
idea that it's bottomed out as opposed to you know,
people who just they've got the finance, they've got a job,
it's time to buy a house. Are they waiting for
a bottom or are they thinking now's the time because
everything else makes sense? Because I mean, as they say,
if you try to predict the bottom, you'll be sitting
(17:03):
a long time, won't you.
Speaker 3 (17:03):
Yeah, that's right, you.
Speaker 4 (17:04):
Need a chris ball to do that. But yeah, I look,
I think the lots of buyers who are ready to
make a decision should just keep up with that momentum.
It's always the best time to buy a house has
always been yesterday, hasn't it.
Speaker 2 (17:19):
Well, yes, that's that's something in real estate agent. It's like, okay,
hang on a minute, Hold on a minute, hang on.
You've just said you're not looking at buying something at
the moment you put your plans on hold, you're in
the bizz What are you waiting for? Ah, there's two
there's two different lanes. Of course. There's there's a lane
the property buy or investor, home home wanter, and then there's.
Speaker 4 (17:42):
I guess you know, every decision I make is in
in cohorts with my husband.
Speaker 2 (17:48):
So ah, okay, are you now I'm going to blame him.
Speaker 3 (17:52):
Blaming him, but I think actually that is here. You are.
Speaker 2 (17:55):
I mean, you are in the business. It is a
strange position to be in because you know what the what,
how the market works. You knows as much as anyone does.
And yet there's a moment where you go, there's something
about it just tells me I need to wait. Do
you know what that something is?
Speaker 4 (18:13):
Probably on a personally for me, there was there's other stuff.
I've been incredibly busy with work and heaps of travel, Okay,
and yeah, I just need to I do need to
get myself into gear. The best time to buy.
Speaker 2 (18:25):
Is now, Okay, al right, I'm not sure if you
sold me on that one. Hey, look, we'll take your calls.
Eight hundred and eighty ten eighty buying in the current climate,
what are the reasons to do it or to hold off?
Because you know, we've got the Americans and the Iranians
apparently shuffling between rooms with messengers trying to open the
(18:45):
straits of Hormos. I mean, is that what signal would
you look for?
Speaker 3 (18:49):
Or do you like me?
Speaker 2 (18:50):
I said with our discussion with Wilhelmina and Luke that
I've almost stopped following the news too closely. I just
drive past the local mobile or z or gull or
whatever and I see the petrol price in it tells
me what's going on in the world is? I mean,
what is it for you that makes you think I
can we can come out of our shells again, because
(19:12):
it is a little bit like we're all turtles or
tortoises or whichever they are. It's twenty eight past four.
Let's go to some calls. Kurram Hello, oh hi, yes.
Speaker 5 (19:23):
Yes, I'd like to share my experience the last month.
Has it been looking to buy a property? If that's okay?
Speaker 2 (19:31):
Yeah, you've come to the right place.
Speaker 5 (19:34):
Yes, with interest rates, I mean like you guys have
been talking about because you know, it's kind of for
the lowest point now, so yes, I think I think
it's best time to buy and fix it for a
couple of years or whatever. You know, it's not going
to get any better. So I started looking for a
property and yeah, it's been interesting, you know in the
(19:55):
Wellington market and Auckland, which is probably the best places
to buy at the moment.
Speaker 2 (20:01):
And sorry, hang on, where's the best place to buy?
Did you say well in time.
Speaker 5 (20:06):
Yeah, Wellington. Well Wellington's you know, down about thirty percent
from the peak and Auckland's down about twenty five percent.
I think. So those are the two markets, you know,
where it's the best to buy, you know, an investment
property or well even probably.
Speaker 2 (20:20):
The first well that that is contingent on you anticipating
that Wellington's having a dip because it's going to go
back up again, I guess, isn't it.
Speaker 5 (20:30):
Yeah, Yeah, that's right. I mean it's I mean, it
might go down another you know, five percent or whatever,
but you know it's it's done, you know, a big,
big chunk that has gone down already. So I just
thought it's the best time to get in. And also
every time a crisis happens, you know, I started buying
during two thousand and eight the GFC, and then during
(20:52):
COVID and also in this crisis started, I thought, well,
this is the best time to pray and you approach
the bank, you get the mortgage approved, and you just
go shopping. You know, it's as simple as that.
Speaker 2 (21:04):
Are you someone, have you got a few properties? What's
your stake in the game right now?
Speaker 5 (21:10):
Yeah? I'm an investor. I've been buying since two thousand
and nine in Auckland, Wellington and christ Church. So so yeah,
it's yeah, every time a situation like this arises, I
approach the bank and you know, you know, if the bank,
the what I follow is if the bank's going to
lend me, I take the money.
Speaker 2 (21:33):
That's a good rule of the interesting rule of thumb.
Speaker 4 (21:35):
Yeah, it's very good use someone else's money to build
your own.
Speaker 3 (21:38):
Wealth, right yeah.
Speaker 5 (21:41):
Yeah. So I mean if they say no, okay, fine,
you know, well there's good reasons. They're protecting themselves and
you know, and protecting me as well in the process.
So but if they're going to leand you know, I
just grab it and I just go okay, you know,
let's let's find the best yield the best investment properties.
I mean, as you already know, I think the best
(22:03):
investment producies buy at the moment is the multi income
properties like you know, a home and income or with
a granny flat or a dalky apartment. The minute it's
got another dwelling on it, it's you know, you just
can't go wrong.
Speaker 2 (22:19):
So yours are making sense in terms of paying for
themselves of something that's sustainable from day one, Yes, that's right.
Speaker 5 (22:29):
And also buying when you know you make money on
the day you buy. So that's what I believe in
as well. So if you're buying it's like safe, the
market's going around twenty five percent and you're buying it
at you know, say at a thirty percent discount, you're
already factoring in that you know, might go down another
five percent and not wait, sit and wait for that
(22:50):
other five percent to drop, because you know it'll be
too late, you know, because you'll just be waiting forever,
you know, because there's a lag.
Speaker 2 (22:59):
Okay, Aline, you've got anything, you'd like to throw it around.
Speaker 4 (23:03):
So Karen, you've got investment properties in Wellington, have you
got them tenanted at the moment?
Speaker 6 (23:09):
Yes?
Speaker 5 (23:10):
Yeah. What I find interesting with the rental market is
it seems a lot better than the last two years.
Twenty twenty four was one of my worst years, but
it's kind of improved. But it also I think the
smaller properties are better, like you know, studios and one beads.
(23:31):
But I did find the four beds are a bit challenging,
you know, the bigger ones four or five beds to
find tenants, you know, so that market doesn't seem to
have kind of recovered yet.
Speaker 2 (23:42):
So where do you make your where do you anticipate
making your money? Do you make it in the fact
you're just accumulating a bunch of rental stock where you
are getting returns from your tenants, or ultimately are you
looking for a capital gain there or bit of both.
Speaker 5 (23:58):
I mean, the capital gain is only you know, useful,
you know, if you're going to sell. So I don't
really focus on the capital gain as much because I'm
not in I'm not selling the properties, you know, so,
but I mean it did it obviously helps to go
and leverage, you know, use the equity to buy more.
So that's why you buy low and you know, you
(24:20):
keep the properties, you rent them out. And yeah, you know,
I'm very confident. I've been in the market for you know,
since two thousand and eight, and there's a lot of
negative talk going on where the property is still good
and you know, and all the big economists coming out
and debating that. I just don't buy into it, you know,
I just that's why even right now, and it's very difficult,
(24:43):
you know, because two or three days ago I had
a confirm a contract and you still doubt yourself. You
just go, oh my god, I've done this so many times,
and you just sit there just like you guys have
been talking about. You know, you just look at the
news and go, oh my god, is the price is
going to go down another ten percent? You know, isn't
the straight's going to skyrocket again? And we all go
through that, you know, But I just to bite the
(25:05):
bullet and just go, no, I'm going to do this.
It's a good prize. I've got to lock it in. Yeah,
You've just got to do it, you know.
Speaker 2 (25:13):
So you are what would you advise? I mean, I
get almost get a feeling your involvement in the market's
slightly different to the involvement of someone who's looking for
a house for them for their future or as a home.
I mean, do you think it's the same game or
do you because you're looking at Okay, this is what
I have to spend. This is how much money I've
got to stick into it, and this is a return
(25:34):
I get and I can make this work. Whereas do
you think it's different for someone who's looking for a
home home?
Speaker 5 (25:42):
I don't. I mean I'm not sure to be honest.
I mean, I don't think it's that different. I mean, yes,
I do treat it as a business, but at the
end of the day, you know, I do live in
some of them, you know, like I don't have a
you know, home for myself as such. You know, I
move around and I live in some.
Speaker 2 (25:59):
Of my properties, musical properties.
Speaker 3 (26:04):
I do have one question, have you bought it?
Speaker 2 (26:07):
Did you buy any the peak in Wellington that you're
still sort of thirty percent down on?
Speaker 5 (26:12):
No? No, No, I bought in Wellington ten years ago,
so they're all, ah.
Speaker 2 (26:17):
So you're quite glad you didn't get get on when
it was nuts.
Speaker 5 (26:21):
Yeah, I mean thankfully I bought in christ Church during
the peak. And yes, they might have not skyrocketed or
gone up you offifty one hundred k. They're all just
sitting there, but at least they haven't dropped twenty five percent,
So that was good timing I think. I mean, no
one's an expert, but you know, I was just watching
these markets and just kind of getting in. But I think, yeah,
(26:44):
right now, the only way you know to get is
I think for most people, like just just get that
extra dwelling and like, you know, even if it's a
two bed upstairs and the studio downstairs or a granny flat. Yeah,
that's really.
Speaker 2 (26:57):
Really how okay, I've got a couple of texts from
the texters already for your crime. Somebody wants to know
what your debt level is.
Speaker 5 (27:07):
Oh, I mean I'm not a spreadsheet person, so I can't.
Speaker 2 (27:18):
I'm not a spreadsheet person. That's good. That's a great
way to respond, Karama, which is your way of saying,
none of your business. But I had to ask you. Good.
Speaker 4 (27:28):
Yeah, And you know runs in it for the long term,
aren't you. You're not looking for a quick turnaround in anyman.
Speaker 2 (27:33):
That is a specific type of investor, isn't it. And
he's looking for properties that are really readily telling tenantable
for people who just want a place to live, as
opposed to you know, you want to rent out a
five bedroom and Candala, that's probably a different cup of tea,
I imagine. I like the fact he's musical chairs, he's
I like the fact I'm interested in the fact that
(27:55):
he just moves around according to who's vacant. That's a
that's a fairly It's a mobile lifestyle, isn't it. Let's thanks, Hey,
thanks for you call.
Speaker 3 (28:04):
Karama.
Speaker 2 (28:05):
Really appreciate it. I think we've spoken to Crown a
few times before. Actually, so good to be back Sharma,
Hello high there.
Speaker 6 (28:14):
Just putting my thoughts into the discussion and interesting the
last school is and I buy into his philosophy. I'm
an investor myself and I'm in the market for investing properties.
But one element in New Zealand in general is that
you can't go wrong in the property market if you're
(28:35):
geared well.
Speaker 2 (28:37):
And well, that's the catch twenty two, isn't it correct?
Speaker 6 (28:42):
Of course without a doubt. You know, if a lot
of people end up over exposing themselves when they are
buying a buying on equity with when the market's high
and they have had some realization of equity and they
use that. But one element that people don't consider is
that the banks have a detiquity at so sometimes the
(29:07):
banks do have an option to call up any shortfall
in equity and that sometimes becomes quite distructive. But anyway,
just going back, I think I totally agree. I have
a few properties. I just just acquired a few, a
couple of mores Instokland. But if I heard the earlier
(29:27):
cooler not not not Kron the other guy or the
lady before that abilities of studio that we should some
people do wait.
Speaker 2 (29:36):
For my guest the line who's with me in the studio? Now?
Speaker 6 (29:42):
About that? Yeah, So I think there was a mention
about waiting for the property market to thank to an
extent before you do make them.
Speaker 4 (29:54):
Some people don't think that, don't they.
Speaker 6 (29:57):
Yeah, but they missed the bus. The reality is that
and if you if you you're geared well and you
have enough, oh, the property market is never going to
stay awhay, It's going to always go up. You look
at the tenier cycle of the property market, you'll see
an interesting trend and people have made a lot of money,
(30:21):
a loads of money just by playing the market. I
would encourage people to look at if you're buying invest
from property to get multiple incomes out of one property
rather than just having And I've noticed also in New Zealand,
in Oakland especially, I'll talk about Oakland because my exposure
is here, is that the three betters and the two
(30:44):
betters go quickly, the four betters and five betters because
once you start reaching the eight eight hundred and fifty
mark in terms of rental income, you don't get that
number of interest parties and sometimes you do, but then
you have problem tenants where there's a lot of breaches
in terms of bringing in other people to share the
(31:05):
share of the police.
Speaker 2 (31:06):
He and Sharma can I ask you might have heard
Karam say that he's even though he's been in the business,
he's bought he obviously has got quite I would say
he's got a number of properties and he's reasonably seasoned,
but he still doubts himself every time he's got a contract.
He's got to think about how do you go about
with that equation?
Speaker 6 (31:26):
Very similar I think it is. It is a purchas's phobia.
Speaker 2 (31:32):
What do you think this is the one that's going
to ruin me?
Speaker 6 (31:35):
Well, it's sometimes you're thinking, why does it look so good?
Or am I I'm on the edge of something, or
I've sort of had cold feet. Yeah, in one or
two of my investment properties where on the last minute
I'm my wife's getting annoyed on me saying but we
made up our mind. But again, I think it's a
(31:57):
it's an investors phobia.
Speaker 2 (31:59):
Well, actually no, I'm curious on the idea of cold
fate because I just think that what happens at the
moment in the market with two point twenty five percent
ocr is that cold feet is the expression of the
day at the moment. There's still a lot of people
who've got cold feet. And here we have guys like
you and Karam who are experienced, who are experienced enough
(32:19):
to overcome it. But other people, if they don't have
that experience, that wins the day. Do you think there's
something in that right now?
Speaker 6 (32:28):
Oh? No, definitely, I think they You know, I would
encourage anybody that has an intent of securing a property,
whether it's a first home buyer or an investor. You
can't get the interestry you're getting now for too long.
If you can fix it for the next three years,
which is highly unlikely, Yeah, you're ahead of the game already.
(32:54):
And as long as you have a supplementary income apart
from just your normal fixed.
Speaker 2 (33:01):
Income, Okay, that's that is a catch. Yes, you wouldn't
rely just on the income from your properties then yeah.
Speaker 6 (33:09):
And because I think the other the more concerning element
currently in New Zealand for for the world is what
Donald Trump is doing up in the other side of
the world and Middle East dilemmas, which which is quite
worrying because we do not know where the where the
inflation is going to end?
Speaker 2 (33:28):
And again, what do you what do you want to see?
What do you want to see settled down? In terms
of the global outlook. Do you think the Iran is
Iran something that people are waiting for? What's your take
on what will see?
Speaker 6 (33:40):
Absolutely? I think for now in the last you know,
we had kind of turned the corner. Yeah, six bus
six weeks ago, but then the Middle East dilemma, and
I think I just hope people are taking a conscious
of it because it's not an oil crisis only, it's
food security also now uh, and we're not even if
(34:01):
the Middle East fiasco ds tomorrow. We we have the
ongoing pain for the next probably six to nine months. Yeah,
because there's significant infrastructure damage in terms of rehability, shing
all those oil minds, fields and all that. We'll take
a long while. We're then to.
Speaker 2 (34:21):
Yeah, for them to be able to trade to fill
their tanks for some avocado and toast here. Hey, thanks Charma,
I appreciate your care mate. We've got good stuff. We'll
be back in just a moment. We're with a new
guest on the show. It is a Lane who's from
what was I going to say, l J. Hooker, Sorry,
(34:42):
I had a momentary, and we're talking about what's it
going to take to get the market back into action,
and how much is irun really affecting things? And if
you are someone who's looking at getting into the market,
what are you looking forward to changing it? Because cash
rate is not going to be in my view and
in most people's view, it's not going down. It's only
(35:02):
going up at some stage from here from two point
twenty five and therefore affecting the bank cash. Right, So
what do you think it's going to take take to
get the market activated again? It is we don't have
much time left. Actually, time flies sixteen minutes to five o'clock.
Back in a tack. Yes, welcome back. I'm Tim Beverages.
This is one refradio shown. My new guest is from
l J. Hookers. She's head of operations. It's Elaine Burkertt. Actually,
(35:23):
there is another question that's been thrown in to the mix,
I think, which is does have an effect on the
real stack market. I don't know what it is, but
we've been talking about Iran, but this text says, Hi, guys,
what does Elaine think about the general election and how
the result of that, How could that have an effect
on the property market this year? Is it already having
an effect on the property market? What do elections do?
(35:45):
You know?
Speaker 4 (35:46):
Every election year we see decision making on hold. You know,
people think that there might be some radical change the
day after the election result is out, and then they
wait and it's always astounded me. You know, nothing really
changes that quick.
Speaker 2 (36:04):
Well, we do have we do have some talk about
capital gains taxes and all that sort of thing. Funny
thing is I mean that this is taking the conversation
a little bit away from where we're at. I've always thought,
I mean, regardless of whether you're at like or don't
like capital gains taxes, I've always thought, who cares if
(36:24):
there is a capital gains tax? Because if there's money
to be made, I mean, I turn up to work
every day, I'm getting taxed on it. It doesn't stop
me from wanting to work. If money is to be made,
do we overstate or over.
Speaker 4 (36:37):
Yeah, we're a bit precious about it, aren't we.
Speaker 2 (36:39):
I mean, I mean, I wouldn't be the end of it,
wouldn't be the end of the world. I mean, so
many countries look at Australia's market goes gangbusters. They've got
stamp duty, capital gains taxes. I don't know we've I'm
not arguing for.
Speaker 4 (36:55):
It, but no, that's right. I don't think anyone's arguing
for it. But yeah, we should be paying tax on
our income.
Speaker 3 (37:02):
Right.
Speaker 2 (37:04):
Oh, yes, you're a most about to argue for a
capital gains tax, were you? I mean, nobody would it
bother you though? I mean, okay, it might irritate.
Speaker 4 (37:15):
Life goes on, right, we still work hard and pay tax.
Speaker 2 (37:18):
Well yeah, so, but the outcome of an election does
tend to spook the market, doesn't.
Speaker 4 (37:23):
It Just the thought of an election year spooks to market.
Speaker 2 (37:26):
It always goes quiet, is it about? Is it because
people are worried about the outcome every like labor supporters
worry about another three years of national coalition, national coalition,
worry about another what about? Worry about three years of
a labor Green Smari party sort of thing?
Speaker 3 (37:42):
Is that?
Speaker 2 (37:42):
Basically? Edit's like, we don't know what's going on?
Speaker 4 (37:44):
It is, Yeah, I guess it is. It's the same
uncertainty that people are having now with the Iran conflict.
Speaker 2 (37:50):
God right, we'll take a moment we'll be back and
just to tick with the Property of the Week is next.
This is News Talk z B. It's ten to.
Speaker 1 (37:57):
Five the one roof Property of the Week on the
Weekend Collective.
Speaker 2 (38:03):
Now the one roof property week is it's actually I
always struggle to try and find a way of summing
it up, but it is sort of a rural urban
sort of cross where it's got a truckload of property.
It's on eight thousand square meters. The house itself is
four hundred and seventy square meters, which is a pretty
big house. It's five bedrooms, three bathrooms, four car garage,
(38:28):
built about thirty years ago in nineteen ninety seven. Now
I'll give you the address you can go and check
it out. Eighty two brooks View Heights, Tasmin. And there
are a couple of things that stand out for me.
I was, you know, everyone does the photos, don't they
for some reason. I love the spa and the entrance way.
But I'm going to hand it over to a lane
(38:48):
from LJ. Hooker. What do you what's how would you
what would you say about the property.
Speaker 4 (38:54):
At Oh, this is a dream house, absolute dream house.
Look at it. It's brick lots of space, heaps of bedrooms.
Then the four car garaging gets me. I could fill
that up.
Speaker 2 (39:07):
Actually, what is it? It's funny we all go for
different things, isn't it. But obviously they've staged it themselves.
And the only reason I say that is because it's
got some cream leather sofas in the living room, which
I don't think is the last time I've seen a
staged property. My producer tire I'll tell you I was
banging on about that for ages. We're talking about what
sort of leather is appropriate for staging, and I'd say
cream leather probably not. But it's got a beautiful outlook.
Speaker 3 (39:31):
Hasn't it. It has?
Speaker 4 (39:32):
And you're right that hot tub you could do beautiful
views from there.
Speaker 2 (39:36):
Yeah, tennis court swim it is pretty grand. I mean
it's tennis court swimming pool. As I say, eight thousand
square meters of landscape grounds significantly landscaped. It's worth saying
that they've done a beautiful job on it. And yeah,
so the price, well, I mean, if you're going to
get something like this in our neck of the woods,
(39:57):
it'd be millions and millions and millions. But what do
you think of the prices they reckon estimate around three
mil two point.
Speaker 3 (40:04):
Nine Yeah, what do you reckon?
Speaker 4 (40:06):
It looks worth it to me.
Speaker 2 (40:07):
What you're gonna go and put it a little bit
of an.
Speaker 4 (40:09):
Offering is an asking price?
Speaker 3 (40:12):
Yeah, what's the asking price?
Speaker 4 (40:14):
Two point nine to five?
Speaker 2 (40:15):
There we go two point nine five.
Speaker 4 (40:17):
Say quick, it doesn't hurt.
Speaker 3 (40:18):
Actually, well, just a quick one.
Speaker 2 (40:20):
If somebody's asking two point nine to five, you never
offer them two point nine five, don't you. They're expecting you.
Speaker 4 (40:26):
You don't have to pay.
Speaker 2 (40:27):
No, I mean that is what you don't have to pay.
Speaker 4 (40:31):
Yeah, but you know I loved price properties. If you're
selling a house, you should get it priced. You'll get
far more interest. No one has to guess.
Speaker 2 (40:40):
So do you like the fact that they've said this
is what we want?
Speaker 3 (40:43):
Yes? I do.
Speaker 2 (40:45):
As opposed to auction where I mean, that's that's the thing.
Speaker 4 (40:48):
I'm a big fan of auction though, don't make me choose, okay, okay.
Speaker 2 (40:53):
So anyway, go and check it out. The address is
what was the address again? It was eighty two brooks
View Heights, Tasman. As I say, five bedrooms. If you're
into your cars, it's got four car garage pool, swimming pool,
tennis court, spa Paul beautiful views. Go and check it out. Hey, Alane,
lovely to meet your Nice to having the studio first time.
Speaker 4 (41:13):
Oh thanks so much for having me and Bed a
great time.
Speaker 2 (41:15):
Good not too painful then excellent. Good to know anyway, Hey,
we'll be back with the Parent Squad. Is next. Google
Sutherland's joining us talking about the school holiday's boredom settling
in Is it okay to let your kids get bored?
We'll be talking about that, among other things with Google
in just a moment Vaccent.
Speaker 1 (41:32):
For more from the Weekend Collective, listen live to News
Talk ZEDB weekends from three pm, or follow the podcast
on iHeartRadio
You're listening to the Weekend Collective podcast from News Talk SEDB.
Speaker 2 (00:42):
Guess, welcome back to the Weekend Collective. I'm Tim Beverage.
Now welcome to the one Roof radio show. We want
your calls of course on our one eight ten eighty
and text nine two nine two nine two A little
bit of Leonard Skinner is actually I love that we
actually give our guests often the choice of music to
start the hour. It's amazing how much retro sort of
rock were getting. I think probably it's still well that's
(01:06):
sort of retro rockish, isn't it. But it's hard to
go part What was it?
Speaker 3 (01:09):
What was?
Speaker 2 (01:09):
What's the the motorhead one ac DC which has almost
become my theme June. Anyway, Look, we have a new
guest on the show. How I'll be introducing to you
in just a moment. And look we've had you would
have seen the headlines on the cash rate. We've had
an analysts forecasting a plateau for much of this year,
with rates starting to turn upwards near the end of
(01:30):
the year. Now, notably the Reserve Bank have made an
announcement on the cash rate and everyone was a bit
nervous because there's all these inflationary pressures to do with
the run and which is not helping the government's cause
when it comes to inflation. So there was a little
bit of casual sort of questioning about, oh goodness, me
are the reserve bank and have to step in to,
(01:51):
you know, say, look, we're gonna have to pop that
cash rate up earlier than we thought, but they kept
it the same. And I don't know about you, but
my thinking, as a non expert in this in this
sort of space, but having hosted a property hour for
a few years now, is cheap money in the past
(02:11):
has led to a booming market, but of course we're
not seeing people pouring back in. So if you are
someone who's looking at getting into the market, does the
interest rate does it play a part? What is there
anything that's holding you back? Or are the other things
at play to do with I don't know, just job
markets and inflation and what that means for what's happening
(02:32):
in Iran and everything. We want to know what you
think on eight hundred and eighty ten eighty or text
nine two nine two and joining me. She is the
head of operations at al J. Hooker and her name
is Elaine Burkett and she's with me. Now, good Eylane.
Speaker 3 (02:44):
How are you going? Hey?
Speaker 4 (02:45):
Really good things?
Speaker 2 (02:45):
Hey, let's little bit about you. So your head of
what is head of operations at AL J. Hooker? Sounds
like you have to keep an eye that everyone you're
keeping an eye and everyone else.
Speaker 4 (02:55):
Yeah, I certainly do. It's it's like having a helicopter
view over the entire company.
Speaker 2 (03:00):
Do you get to sell?
Speaker 3 (03:01):
No, I don't.
Speaker 4 (03:02):
I am licensed. I'm a licensed agent now, but I
haven't sold for fourteen years or so. I've worked in corporate.
Speaker 2 (03:09):
Yeah. So how did you How did you get involved
in real estate?
Speaker 3 (03:12):
Oh?
Speaker 4 (03:12):
It's one of those stories when the kids have all
gone to school. Yeah, wanted to get back into work
and I began working at a real estate office.
Speaker 3 (03:22):
Loved it.
Speaker 4 (03:23):
High energy, you know, salespeople are so driven and wonderful energy.
And yeah, exually did that was a good pathway.
Speaker 2 (03:31):
How Actually, I can imagine if you've you know, you've
been going through the whole sort of thing with family
and stuff, and you get into this new environment and boomfit,
all of a sudden you're in this chart.
Speaker 3 (03:40):
I imagine.
Speaker 2 (03:41):
Is it a bit of an addiction for people when
they get into that environment and they're just that's it.
They're helped.
Speaker 4 (03:46):
Yeah, I guess so, I guess you could say that
it could be life changing for people.
Speaker 2 (03:51):
Yeah.
Speaker 4 (03:52):
You know, you only have to study for around six
months to become licensed and it comes unlimited if you're
working hard.
Speaker 3 (03:59):
So tell us.
Speaker 2 (04:01):
So, the head of operations at al J. Hooker, what
specific le do you? What is your job?
Speaker 3 (04:06):
Then?
Speaker 4 (04:07):
Well, I lead the country, so I look after network
performance of our officers. It's a franchised operation. Yeah, and yeah,
give guidance, lots of compliance guidance, so all the fun stuff.
Speaker 2 (04:20):
Hey, so, what is what is your take with what
the market is doing right now? Because we, I mean,
we have been through some over the last few years,
some incredibly heady times. A lot of that was driven
by cheap money. Okay, money isn't as cheap as a member.
Speaker 3 (04:36):
The what was that?
Speaker 2 (04:37):
What was that cheapest interest rate that some people did
lock in for five years? Was that it wasn't the
two was it two point nine to five or even
something less than that?
Speaker 4 (04:45):
And it was so tempting for people, you know that'll
been at home thinking about their life and how they
can improve it through COVID. They all came out, bought
a new boat, brought a new house.
Speaker 2 (04:55):
What are the expectations? So at the moment where at
the cash raid is what two point two five percent?
I think? Is it the oci?
Speaker 4 (05:02):
Yeah, it is.
Speaker 2 (05:04):
What would nor the expectations around a cash rate like that,
because that is pretty cheap money, isn't it. I don't
know what it was like when you started real estate,
but I had a friend who said that they used
to always think they had to budget for a possible
borrowing rate of up to eight percent. With a cash
rate of two point twenty five percent and borrowing around
five percent, what's your take on it? And yeah, yes,
(05:27):
I think.
Speaker 4 (05:28):
You know, there's a bit of a paradox. We've got
potentially rising interest rates, and you know that should be
creating some urgency. There should be that buy now before
it gets worse sort of thing. But in the reality,
it's the opposite, And it's all around confidence in the economy,
isn't it.
Speaker 2 (05:46):
So it's not the fact that so much the fact
that I can borrow cheaply. It's that I might be thinking, yeah,
I'd love to get a cheap mortgage right now, but
I'm not sure, I'm going to have a job in
six months? Is it that type of thing?
Speaker 4 (05:56):
Affordability is already stretched now, so you know, even if
people expect rates to rise further, current mortgage rates are
already pretty pretty big, you know, the one where one
year rates around five and a half percent. I think
a cheap rate floatings closer to six. So they're already
stretched at the moment.
Speaker 2 (06:16):
So what would okay, so is it so? What is
it going to? I mean, I'm not sure that we
It's all about getting your expectations right, isn't it. Because
we've lived through some times when the market has been
you know, we've seen some really heady times, haven't we,
with very steep growth price rises. Is there just a
(06:37):
new normal for the market now that I don't know,
It does seem that there's a hell of a lot
less hysteria over it. What have you noticed in the
last Well, let's just go from before COVID to what
we saw with cheap money and then where we're at now.
Speaker 4 (06:51):
Yeah, so we you know, we saw pressure on the market.
We saw people wanting to make a quick decision leap
into it, paying higher prices. Remember the market prices are
always driven by the market, not the agencies, not the seller.
It's what someone's going to pay. So when we've got
that fear of missing out, that's when we're seeing prices rise.
(07:11):
And at the moment, we've got a lot of properties
on the market, so there's a lot of choice, and
buyers just don't have that urgency. They can sit there
and see something they like and it'll probably be there
in another two weeks. There's not that urgency to leap.
Speaker 2 (07:25):
Into it, or two months even.
Speaker 4 (07:27):
It could be.
Speaker 2 (07:30):
You're entitled to put a slightly more seller spin on it,
I guess. I mean, if I said, if you're looking
for a house, it is quite likely it's going to
be there. I mean, what is the average selling time
for a house at the moment?
Speaker 4 (07:42):
I mean it varies all over the place, but now
you know, locally in my neighborhood, perhaps forty to fifty days.
Speaker 3 (07:49):
Forty to fifty days.
Speaker 2 (07:51):
That's not business days, is it.
Speaker 4 (07:53):
No, they in real estate business is seven days a week.
Speaker 2 (07:58):
Well, it's actually, to be honest, six weeks. I wonder how,
I mean, back in the days when things are a
bit crazy, I mean, people be selling things. I know,
I know obviously we were dealing with headline stuff all
the time on this show that people would say, Oh,
I put my house on the market, somebody off for
me two hundred thousand and the next day extra and
I sold it with a click click click. But what
what is the range of you know, in busy times,
(08:20):
what are the average selling times compared to what we're
seeing now? Any I always say guidance on that.
Speaker 4 (08:25):
You know, people love to sell by auction when they
know that they're going to get a sale. Yeah, so
we see those timelines reduced down to sort of thirty days,
and it matches that auction program.
Speaker 2 (08:35):
Yeah, actually that's not we necessarily had that slated for conversation.
But have you noticed the methods of sale have changed?
So I've had a I mean I've mentioned this before
at a Mate of mind. He bought a house and
it was the worst of situations. Here's the first time
buyer and it goes you know, they put a deadline
on it, and then all of a sudden there's this
(08:56):
blind auction situation. And I was chatting to him and
I said, God, you'd almost wish you were buying it
auction because at least and you see what the other
bidder as as opposed to can you just put your
best offer in please?
Speaker 4 (09:05):
Yeah, sure, sort of turns into a tender and dragg
doesn't it.
Speaker 2 (09:08):
It is a bit like that, And is that happening
quite a bit these days with well.
Speaker 4 (09:12):
When that's multiple offer that you're talking about. Yeah, yeah,
so that does happen, but probably not so much in
this market or in the Auckland market. You know, we're here,
so we're probably focused on Auckland.
Speaker 2 (09:24):
Right, yeah, well, no effort, We're we're on the hop
around the whole.
Speaker 3 (09:28):
Country of course.
Speaker 4 (09:29):
But when we're talking about local experience.
Speaker 2 (09:32):
Oh yeah, ah, funny enough, No, it was a friend
is a different markets actually.
Speaker 4 (09:37):
Believe right, yeah, So that's bucking the trend.
Speaker 3 (09:40):
And christ Is what's it doing? Well?
Speaker 4 (09:42):
It always sort of goes the opposite to the rest
of the country and it's gang busters there and you know,
I don't know if you've visited recently. I was down
there in December and it's a beautiful city. It's bustling
that people are returning and there's positivity and that helps
with the market.
Speaker 2 (09:58):
So what's different about christ Church that to the rest
of the country then, because they've got same interest straits?
Is it simply because christ Church has been you know,
I mean it's been through the mill and you know
ever since the earthquakes?
Speaker 3 (10:15):
What is it?
Speaker 2 (10:15):
What is it about christ Church? What's what's making it
rock and roll? I mean people aren't going there because
I've got a new stadium suddenly.
Speaker 4 (10:22):
Yeah, there's heaps of growth. You know when we look
out Rolliston, that's just stretching all around the new stadium.
Beautiful homes they are going all that central city living available.
Speaker 2 (10:33):
Yeah. Yeah, because it's funny how you know how it
used to be that Auckland would be the market. When
Auckland would you know, start then everyone else would follow.
It was christ Church and the new Auckland. Now we're
going to be so yeah, we'd love your cause on
this though, But because as we know as well, I'm
not going to suddenly throw data at you. But people
are not exactly pouring back into the market at the moment.
(10:56):
Is now the time to get stuck in? If you
are looking at getting into a house, or maybe you're
an investor and you're thinking you might just you know,
you might get into it, what is it that's not
working for you? Because the money's cheap. Is it's still
a question that the price is not right and maybe
that's that maybe that is the difference in fact, actually,
Elaine with christ Church. I mean the thing with christ
(11:19):
Church is that prices are you know, probably seen as
more affordable to the average person compared to Auckland's still
a bloomin expensive city, isn't it.
Speaker 1 (11:27):
Yeah?
Speaker 4 (11:28):
Absolutely, I think you know there's more choice there.
Speaker 2 (11:30):
Okay, we love your calls on eight hundred and eighty
ten eighty. You can text on nine two nine two. Well,
shall go to the calls or texts as soon as
you want to drop us a line. Eight hundred and
eighty ten eighty text nine two nine two. Got a
new guest with me. She is Elaine Burkett. She's l J. Hooker,
head of operations. And the question is money is still cheap?
(11:54):
The interest rates haven't gone up yet. Why are people
not pouring into the market or do you think that
this is one of those magic times where we'll look
back on and the person who got stuck in as
the one who's going I told you so. Oh eight
hundred eighty and eighty text nine to nine two. It's
eighteen minutes past four, give us a call News Talk
(12:15):
z B. Welcome back to the One Roof Radio Show.
Now we just to let you know we have a
bit of a problem at the moment with our telephones.
You can actually ring a but we're having a problem
processing audio and I'm not sure what exactly what's going on,
but we will let you know because I think that
while people are getting through, we're unable to hear them
(12:36):
at the other end of the line. So we've got
our technical people onto that, so good news. Probably a
nightmare scenario for a brand new guests on the phone,
but it's you and me Elaine Lane Burkett from LJ. Hooker,
head of operations, So we've got lots we can talk about.
Let's shall we get into it? Shall we? Hey? So
I guess that my question is interest rates ocr two
(12:59):
point twenty five. It's it's not going to go down.
So here's a question.
Speaker 3 (13:04):
It's there'll be some.
Speaker 2 (13:05):
People who'll be listening to this. Who will be because we've,
you know, as New Zealanders, we've been through ups and
downs and you know, these incredible price rises and stories
of people making and losing a lot of money or
not generally making a lot of money. Actually, be honest,
is this the way we like the market? That we're
a bit more because I reckon the average key we
(13:28):
real estate agents wouldn't necessarily. I mean, as long as
you're selling and buying, that's what you want to do,
that's the business you're in. But for the average punter
who's not an investor, I think there'd be a lot
of people who'd sort of be reason or at least
from the buying point of view, who quite like the
market like this. There's no frenetic energy prices, there's not
(13:50):
the second guessing on, you know, hold on to your
property for another three months because the market's going to
go gangbusters. It's just steady as she goes. Is there
a certain segment of the public who love the real
estate market right now because it's just not doing much?
Speaker 4 (14:04):
That's maybe buyers think our sellers would know be liking that.
Speaker 3 (14:09):
I mean, that isn't it.
Speaker 2 (14:11):
That's the whole point, isn't it, Because for every buyer
there's a seller, and you guys act for the sellers.
Of course, what is the sense when it comes to
people thinking about putting their houses on the market. Are
they holding off or because we got a lot of
stock on there.
Speaker 4 (14:26):
Look, I think as soon as we saw the invasion
in Iran, we saw people stop making decisions. There were
buyers who had been talking about, you know, making a
decision buying. We had people lined up ready to list.
As soon as those bombs dropped and there was uncertainty
and we thought interest rates might go up and inflation
(14:47):
might worsen, they put their decision making on hold.
Speaker 2 (14:51):
Who put the decision making the sellers or the buyers?
Speaker 4 (14:54):
Well both, Yeah, the buyers are worried about affordability. Do
you remember ten years ago we were saying to first
home buyers, you know, give up your avocado toast so
that you can buy your first home. Yeah, I mean
you know they've given that up to put petrol in
the car, so there's not much left to cut.
Speaker 2 (15:12):
Okay, that puts an Affairly, that puts an affairly blunts
it away, isn't it? As you say, they've given it,
So what's it going to?
Speaker 3 (15:22):
How much?
Speaker 2 (15:24):
You were saying that? That's really as soon as the
bomb started to drop, that was a noticeable difference. Was
it was it people literally pulling out of a contract
that was conditional on something. They went oh, well, you
know some people pausing.
Speaker 4 (15:37):
Yeah I did that personally, looking at investments and thinking
I'll just pause, I'll just wait.
Speaker 2 (15:43):
Really yeah I did. Okay, So what would it take
for you to be back into that side of things.
Speaker 4 (15:47):
Well, I think our buyers, as soon as they think
the market's bottomed out, they'll want to get in, and
you don't know till it's there, right, so until the
values start increasing, and I mean, let's be honest, there
were there was some increases in February and early March.
We were seeing the prices get back. You know, we're
(16:08):
just in a new normal and off the back of
that erratic time when everything was selling for moonbeams. You know,
it feels like a very low market, but actually it's
a normal market.
Speaker 2 (16:20):
How many are people, generally, in your view, trying by
the way, we fixed our phones, so if you want
to jump on the blow and share your thoughts on things, all,
it's all done now eight one hundred eighty ten eighty God,
I forgot what I was going to say. It's completely gone.
But when in terms of oh, that's right bottoming out people,
(16:43):
how many people actually really care about, you know, the
idea that it's bottomed out as opposed to you know,
people who just they've got the finance, they've got a job,
it's time to buy a house. Are they waiting for
a bottom or are they thinking now's the time because
everything else makes sense? Because I mean, as they say,
if you try to predict the bottom, you'll be sitting
(17:03):
a long time, won't you.
Speaker 3 (17:03):
Yeah, that's right, you.
Speaker 4 (17:04):
Need a chris ball to do that. But yeah, I look,
I think the lots of buyers who are ready to
make a decision should just keep up with that momentum.
It's always the best time to buy a house has
always been yesterday, hasn't it.
Speaker 2 (17:19):
Well, yes, that's that's something in real estate agent. It's like, okay,
hang on a minute, Hold on a minute, hang on.
You've just said you're not looking at buying something at
the moment you put your plans on hold, you're in
the bizz What are you waiting for? Ah, there's two
there's two different lanes. Of course. There's there's a lane
the property buy or investor, home home wanter, and then there's.
Speaker 4 (17:42):
I guess you know, every decision I make is in
in cohorts with my husband.
Speaker 2 (17:48):
So ah, okay, are you now I'm going to blame him.
Speaker 3 (17:52):
Blaming him, but I think actually that is here. You are.
Speaker 2 (17:55):
I mean, you are in the business. It is a
strange position to be in because you know what the what,
how the market works. You knows as much as anyone does.
And yet there's a moment where you go, there's something
about it just tells me I need to wait. Do
you know what that something is?
Speaker 4 (18:13):
Probably on a personally for me, there was there's other stuff.
I've been incredibly busy with work and heaps of travel, Okay,
and yeah, I just need to I do need to
get myself into gear. The best time to buy.
Speaker 2 (18:25):
Is now, Okay, al right, I'm not sure if you
sold me on that one. Hey, look, we'll take your calls.
Eight hundred and eighty ten eighty buying in the current climate,
what are the reasons to do it or to hold off?
Because you know, we've got the Americans and the Iranians
apparently shuffling between rooms with messengers trying to open the
(18:45):
straits of Hormos. I mean, is that what signal would
you look for?
Speaker 3 (18:49):
Or do you like me?
Speaker 2 (18:50):
I said with our discussion with Wilhelmina and Luke that
I've almost stopped following the news too closely. I just
drive past the local mobile or z or gull or
whatever and I see the petrol price in it tells
me what's going on in the world is? I mean,
what is it for you that makes you think I
can we can come out of our shells again, because
(19:12):
it is a little bit like we're all turtles or
tortoises or whichever they are. It's twenty eight past four.
Let's go to some calls. Kurram Hello, oh hi, yes.
Speaker 5 (19:23):
Yes, I'd like to share my experience the last month.
Has it been looking to buy a property? If that's okay?
Speaker 2 (19:31):
Yeah, you've come to the right place.
Speaker 5 (19:34):
Yes, with interest rates, I mean like you guys have
been talking about because you know, it's kind of for
the lowest point now, so yes, I think I think
it's best time to buy and fix it for a
couple of years or whatever. You know, it's not going
to get any better. So I started looking for a
property and yeah, it's been interesting, you know in the
(19:55):
Wellington market and Auckland, which is probably the best places
to buy at the moment.
Speaker 2 (20:01):
And sorry, hang on, where's the best place to buy?
Did you say well in time.
Speaker 5 (20:06):
Yeah, Wellington. Well Wellington's you know, down about thirty percent
from the peak and Auckland's down about twenty five percent.
I think. So those are the two markets, you know,
where it's the best to buy, you know, an investment
property or well even probably.
Speaker 2 (20:20):
The first well that that is contingent on you anticipating
that Wellington's having a dip because it's going to go
back up again, I guess, isn't it.
Speaker 5 (20:30):
Yeah, Yeah, that's right. I mean it's I mean, it
might go down another you know, five percent or whatever,
but you know it's it's done, you know, a big,
big chunk that has gone down already. So I just
thought it's the best time to get in. And also
every time a crisis happens, you know, I started buying
during two thousand and eight the GFC, and then during
(20:52):
COVID and also in this crisis started, I thought, well,
this is the best time to pray and you approach
the bank, you get the mortgage approved, and you just
go shopping. You know, it's as simple as that.
Speaker 2 (21:04):
Are you someone, have you got a few properties? What's
your stake in the game right now?
Speaker 5 (21:10):
Yeah? I'm an investor. I've been buying since two thousand
and nine in Auckland, Wellington and christ Church. So so yeah,
it's yeah, every time a situation like this arises, I
approach the bank and you know, you know, if the bank,
the what I follow is if the bank's going to
lend me, I take the money.
Speaker 2 (21:33):
That's a good rule of the interesting rule of thumb.
Speaker 4 (21:35):
Yeah, it's very good use someone else's money to build
your own.
Speaker 3 (21:38):
Wealth, right yeah.
Speaker 5 (21:41):
Yeah. So I mean if they say no, okay, fine,
you know, well there's good reasons. They're protecting themselves and
you know, and protecting me as well in the process.
So but if they're going to leand you know, I
just grab it and I just go okay, you know,
let's let's find the best yield the best investment properties.
I mean, as you already know, I think the best
(22:03):
investment producies buy at the moment is the multi income
properties like you know, a home and income or with
a granny flat or a dalky apartment. The minute it's
got another dwelling on it, it's you know, you just
can't go wrong.
Speaker 2 (22:19):
So yours are making sense in terms of paying for
themselves of something that's sustainable from day one, Yes, that's right.
Speaker 5 (22:29):
And also buying when you know you make money on
the day you buy. So that's what I believe in
as well. So if you're buying it's like safe, the
market's going around twenty five percent and you're buying it
at you know, say at a thirty percent discount, you're
already factoring in that you know, might go down another
five percent and not wait, sit and wait for that
(22:50):
other five percent to drop, because you know it'll be
too late, you know, because you'll just be waiting forever,
you know, because there's a lag.
Speaker 2 (22:59):
Okay, Aline, you've got anything, you'd like to throw it around.
Speaker 4 (23:03):
So Karen, you've got investment properties in Wellington, have you
got them tenanted at the moment?
Speaker 6 (23:09):
Yes?
Speaker 5 (23:10):
Yeah. What I find interesting with the rental market is
it seems a lot better than the last two years.
Twenty twenty four was one of my worst years, but
it's kind of improved. But it also I think the
smaller properties are better, like you know, studios and one beads.
(23:31):
But I did find the four beds are a bit challenging,
you know, the bigger ones four or five beds to
find tenants, you know, so that market doesn't seem to
have kind of recovered yet.
Speaker 2 (23:42):
So where do you make your where do you anticipate
making your money? Do you make it in the fact
you're just accumulating a bunch of rental stock where you
are getting returns from your tenants, or ultimately are you
looking for a capital gain there or bit of both.
Speaker 5 (23:58):
I mean, the capital gain is only you know, useful,
you know, if you're going to sell. So I don't
really focus on the capital gain as much because I'm
not in I'm not selling the properties, you know, so,
but I mean it did it obviously helps to go
and leverage, you know, use the equity to buy more.
So that's why you buy low and you know, you
(24:20):
keep the properties, you rent them out. And yeah, you know,
I'm very confident. I've been in the market for you know,
since two thousand and eight, and there's a lot of
negative talk going on where the property is still good
and you know, and all the big economists coming out
and debating that. I just don't buy into it, you know,
I just that's why even right now, and it's very difficult,
(24:43):
you know, because two or three days ago I had
a confirm a contract and you still doubt yourself. You
just go, oh my god, I've done this so many times,
and you just sit there just like you guys have
been talking about. You know, you just look at the
news and go, oh my god, is the price is
going to go down another ten percent? You know, isn't
the straight's going to skyrocket again? And we all go
through that, you know, But I just to bite the
(25:05):
bullet and just go, no, I'm going to do this.
It's a good prize. I've got to lock it in. Yeah,
You've just got to do it, you know.
Speaker 2 (25:13):
So you are what would you advise? I mean, I
get almost get a feeling your involvement in the market's
slightly different to the involvement of someone who's looking for
a house for them for their future or as a home.
I mean, do you think it's the same game or
do you because you're looking at Okay, this is what
I have to spend. This is how much money I've
got to stick into it, and this is a return
(25:34):
I get and I can make this work. Whereas do
you think it's different for someone who's looking for a
home home?
Speaker 5 (25:42):
I don't. I mean I'm not sure to be honest.
I mean, I don't think it's that different. I mean, yes,
I do treat it as a business, but at the
end of the day, you know, I do live in
some of them, you know, like I don't have a
you know, home for myself as such. You know, I
move around and I live in some.
Speaker 2 (25:59):
Of my properties, musical properties.
Speaker 3 (26:04):
I do have one question, have you bought it?
Speaker 2 (26:07):
Did you buy any the peak in Wellington that you're
still sort of thirty percent down on?
Speaker 5 (26:12):
No? No, No, I bought in Wellington ten years ago,
so they're all, ah.
Speaker 2 (26:17):
So you're quite glad you didn't get get on when
it was nuts.
Speaker 5 (26:21):
Yeah, I mean thankfully I bought in christ Church during
the peak. And yes, they might have not skyrocketed or
gone up you offifty one hundred k. They're all just
sitting there, but at least they haven't dropped twenty five percent,
So that was good timing I think. I mean, no
one's an expert, but you know, I was just watching
these markets and just kind of getting in. But I think, yeah,
(26:44):
right now, the only way you know to get is
I think for most people, like just just get that
extra dwelling and like, you know, even if it's a
two bed upstairs and the studio downstairs or a granny flat. Yeah,
that's really.
Speaker 2 (26:57):
Really how okay, I've got a couple of texts from
the texters already for your crime. Somebody wants to know
what your debt level is.
Speaker 5 (27:07):
Oh, I mean I'm not a spreadsheet person, so I can't.
Speaker 2 (27:18):
I'm not a spreadsheet person. That's good. That's a great
way to respond, Karama, which is your way of saying,
none of your business. But I had to ask you. Good.
Speaker 4 (27:28):
Yeah, And you know runs in it for the long term,
aren't you. You're not looking for a quick turnaround in anyman.
Speaker 2 (27:33):
That is a specific type of investor, isn't it. And
he's looking for properties that are really readily telling tenantable
for people who just want a place to live, as
opposed to you know, you want to rent out a
five bedroom and Candala, that's probably a different cup of tea,
I imagine. I like the fact he's musical chairs, he's
I like the fact I'm interested in the fact that
(27:55):
he just moves around according to who's vacant. That's a
that's a fairly It's a mobile lifestyle, isn't it. Let's thanks, Hey,
thanks for you call.
Speaker 3 (28:04):
Karama.
Speaker 2 (28:05):
Really appreciate it. I think we've spoken to Crown a
few times before. Actually, so good to be back Sharma,
Hello high there.
Speaker 6 (28:14):
Just putting my thoughts into the discussion and interesting the
last school is and I buy into his philosophy. I'm
an investor myself and I'm in the market for investing properties.
But one element in New Zealand in general is that
you can't go wrong in the property market if you're
(28:35):
geared well.
Speaker 2 (28:37):
And well, that's the catch twenty two, isn't it correct?
Speaker 6 (28:42):
Of course without a doubt. You know, if a lot
of people end up over exposing themselves when they are
buying a buying on equity with when the market's high
and they have had some realization of equity and they
use that. But one element that people don't consider is
that the banks have a detiquity at so sometimes the
(29:07):
banks do have an option to call up any shortfall
in equity and that sometimes becomes quite distructive. But anyway,
just going back, I think I totally agree. I have
a few properties. I just just acquired a few, a
couple of mores Instokland. But if I heard the earlier
(29:27):
cooler not not not Kron the other guy or the
lady before that abilities of studio that we should some
people do wait.
Speaker 2 (29:36):
For my guest the line who's with me in the studio? Now?
Speaker 6 (29:42):
About that? Yeah, So I think there was a mention
about waiting for the property market to thank to an
extent before you do make them.
Speaker 4 (29:54):
Some people don't think that, don't they.
Speaker 6 (29:57):
Yeah, but they missed the bus. The reality is that
and if you if you you're geared well and you
have enough, oh, the property market is never going to
stay awhay, It's going to always go up. You look
at the tenier cycle of the property market, you'll see
an interesting trend and people have made a lot of money,
(30:21):
a loads of money just by playing the market. I
would encourage people to look at if you're buying invest
from property to get multiple incomes out of one property
rather than just having And I've noticed also in New Zealand,
in Oakland especially, I'll talk about Oakland because my exposure
is here, is that the three betters and the two
(30:44):
betters go quickly, the four betters and five betters because
once you start reaching the eight eight hundred and fifty
mark in terms of rental income, you don't get that
number of interest parties and sometimes you do, but then
you have problem tenants where there's a lot of breaches
in terms of bringing in other people to share the
(31:05):
share of the police.
Speaker 2 (31:06):
He and Sharma can I ask you might have heard
Karam say that he's even though he's been in the business,
he's bought he obviously has got quite I would say
he's got a number of properties and he's reasonably seasoned,
but he still doubts himself every time he's got a contract.
He's got to think about how do you go about
with that equation?
Speaker 6 (31:26):
Very similar I think it is. It is a purchas's phobia.
Speaker 2 (31:32):
What do you think this is the one that's going
to ruin me?
Speaker 6 (31:35):
Well, it's sometimes you're thinking, why does it look so good?
Or am I I'm on the edge of something, or
I've sort of had cold feet. Yeah, in one or
two of my investment properties where on the last minute
I'm my wife's getting annoyed on me saying but we
made up our mind. But again, I think it's a
(31:57):
it's an investors phobia.
Speaker 2 (31:59):
Well, actually no, I'm curious on the idea of cold
fate because I just think that what happens at the
moment in the market with two point twenty five percent
ocr is that cold feet is the expression of the
day at the moment. There's still a lot of people
who've got cold feet. And here we have guys like
you and Karam who are experienced, who are experienced enough
(32:19):
to overcome it. But other people, if they don't have
that experience, that wins the day. Do you think there's
something in that right now?
Speaker 6 (32:28):
Oh? No, definitely, I think they You know, I would
encourage anybody that has an intent of securing a property,
whether it's a first home buyer or an investor. You
can't get the interestry you're getting now for too long.
If you can fix it for the next three years,
which is highly unlikely, Yeah, you're ahead of the game already.
(32:54):
And as long as you have a supplementary income apart
from just your normal fixed.
Speaker 2 (33:01):
Income, Okay, that's that is a catch. Yes, you wouldn't
rely just on the income from your properties then yeah.
Speaker 6 (33:09):
And because I think the other the more concerning element
currently in New Zealand for for the world is what
Donald Trump is doing up in the other side of
the world and Middle East dilemmas, which which is quite
worrying because we do not know where the where the
inflation is going to end?
Speaker 2 (33:28):
And again, what do you what do you want to see?
What do you want to see settled down? In terms
of the global outlook. Do you think the Iran is
Iran something that people are waiting for? What's your take
on what will see?
Speaker 6 (33:40):
Absolutely? I think for now in the last you know,
we had kind of turned the corner. Yeah, six bus
six weeks ago, but then the Middle East dilemma, and
I think I just hope people are taking a conscious
of it because it's not an oil crisis only, it's
food security also now uh, and we're not even if
(34:01):
the Middle East fiasco ds tomorrow. We we have the
ongoing pain for the next probably six to nine months. Yeah,
because there's significant infrastructure damage in terms of rehability, shing
all those oil minds, fields and all that. We'll take
a long while. We're then to.
Speaker 2 (34:21):
Yeah, for them to be able to trade to fill
their tanks for some avocado and toast here. Hey, thanks Charma,
I appreciate your care mate. We've got good stuff. We'll
be back in just a moment. We're with a new
guest on the show. It is a Lane who's from
what was I going to say, l J. Hooker, Sorry,
(34:42):
I had a momentary, and we're talking about what's it
going to take to get the market back into action,
and how much is irun really affecting things? And if
you are someone who's looking at getting into the market,
what are you looking forward to changing it? Because cash
rate is not going to be in my view and
in most people's view, it's not going down. It's only
(35:02):
going up at some stage from here from two point
twenty five and therefore affecting the bank cash. Right, So
what do you think it's going to take take to
get the market activated again? It is we don't have
much time left. Actually, time flies sixteen minutes to five o'clock.
Back in a tack. Yes, welcome back. I'm Tim Beverages.
This is one refradio shown. My new guest is from
l J. Hookers. She's head of operations. It's Elaine Burkertt. Actually,
(35:23):
there is another question that's been thrown in to the mix,
I think, which is does have an effect on the
real stack market. I don't know what it is, but
we've been talking about Iran, but this text says, Hi, guys,
what does Elaine think about the general election and how
the result of that, How could that have an effect
on the property market this year? Is it already having
an effect on the property market? What do elections do?
(35:45):
You know?
Speaker 4 (35:46):
Every election year we see decision making on hold. You know,
people think that there might be some radical change the
day after the election result is out, and then they
wait and it's always astounded me. You know, nothing really
changes that quick.
Speaker 2 (36:04):
Well, we do have we do have some talk about
capital gains taxes and all that sort of thing. Funny
thing is I mean that this is taking the conversation
a little bit away from where we're at. I've always thought,
I mean, regardless of whether you're at like or don't
like capital gains taxes, I've always thought, who cares if
(36:24):
there is a capital gains tax? Because if there's money
to be made, I mean, I turn up to work
every day, I'm getting taxed on it. It doesn't stop
me from wanting to work. If money is to be made,
do we overstate or over.
Speaker 4 (36:37):
Yeah, we're a bit precious about it, aren't we.
Speaker 2 (36:39):
I mean, I mean, I wouldn't be the end of it,
wouldn't be the end of the world. I mean, so
many countries look at Australia's market goes gangbusters. They've got
stamp duty, capital gains taxes. I don't know we've I'm
not arguing for.
Speaker 4 (36:55):
It, but no, that's right. I don't think anyone's arguing
for it. But yeah, we should be paying tax on
our income.
Speaker 3 (37:02):
Right.
Speaker 2 (37:04):
Oh, yes, you're a most about to argue for a
capital gains tax, were you? I mean, nobody would it
bother you though? I mean, okay, it might irritate.
Speaker 4 (37:15):
Life goes on, right, we still work hard and pay tax.
Speaker 2 (37:18):
Well yeah, so, but the outcome of an election does
tend to spook the market, doesn't.
Speaker 4 (37:23):
It Just the thought of an election year spooks to market.
Speaker 2 (37:26):
It always goes quiet, is it about? Is it because
people are worried about the outcome every like labor supporters
worry about another three years of national coalition, national coalition,
worry about another what about? Worry about three years of
a labor Green Smari party sort of thing?
Speaker 3 (37:42):
Is that?
Speaker 2 (37:42):
Basically? Edit's like, we don't know what's going on?
Speaker 4 (37:44):
It is, Yeah, I guess it is. It's the same
uncertainty that people are having now with the Iran conflict.
Speaker 2 (37:50):
God right, we'll take a moment we'll be back and
just to tick with the Property of the Week is next.
This is News Talk z B. It's ten to.
Speaker 1 (37:57):
Five the one roof Property of the Week on the
Weekend Collective.
Speaker 2 (38:03):
Now the one roof property week is it's actually I
always struggle to try and find a way of summing
it up, but it is sort of a rural urban
sort of cross where it's got a truckload of property.
It's on eight thousand square meters. The house itself is
four hundred and seventy square meters, which is a pretty
big house. It's five bedrooms, three bathrooms, four car garage,
(38:28):
built about thirty years ago in nineteen ninety seven. Now
I'll give you the address you can go and check
it out. Eighty two brooks View Heights, Tasmin. And there
are a couple of things that stand out for me.
I was, you know, everyone does the photos, don't they
for some reason. I love the spa and the entrance way.
But I'm going to hand it over to a lane
(38:48):
from LJ. Hooker. What do you what's how would you
what would you say about the property.
Speaker 4 (38:54):
At Oh, this is a dream house, absolute dream house.
Look at it. It's brick lots of space, heaps of bedrooms.
Then the four car garaging gets me. I could fill
that up.
Speaker 2 (39:07):
Actually, what is it? It's funny we all go for
different things, isn't it. But obviously they've staged it themselves.
And the only reason I say that is because it's
got some cream leather sofas in the living room, which
I don't think is the last time I've seen a
staged property. My producer tire I'll tell you I was
banging on about that for ages. We're talking about what
sort of leather is appropriate for staging, and I'd say
cream leather probably not. But it's got a beautiful outlook.
Speaker 3 (39:31):
Hasn't it. It has?
Speaker 4 (39:32):
And you're right that hot tub you could do beautiful
views from there.
Speaker 2 (39:36):
Yeah, tennis court swim it is pretty grand. I mean
it's tennis court swimming pool. As I say, eight thousand
square meters of landscape grounds significantly landscaped. It's worth saying
that they've done a beautiful job on it. And yeah,
so the price, well, I mean, if you're going to
get something like this in our neck of the woods,
(39:57):
it'd be millions and millions and millions. But what do
you think of the prices they reckon estimate around three
mil two point.
Speaker 3 (40:04):
Nine Yeah, what do you reckon?
Speaker 4 (40:06):
It looks worth it to me.
Speaker 2 (40:07):
What you're gonna go and put it a little bit
of an.
Speaker 4 (40:09):
Offering is an asking price?
Speaker 3 (40:12):
Yeah, what's the asking price?
Speaker 4 (40:14):
Two point nine to five?
Speaker 2 (40:15):
There we go two point nine five.
Speaker 4 (40:17):
Say quick, it doesn't hurt.
Speaker 3 (40:18):
Actually, well, just a quick one.
Speaker 2 (40:20):
If somebody's asking two point nine to five, you never
offer them two point nine five, don't you. They're expecting you.
Speaker 4 (40:26):
You don't have to pay.
Speaker 2 (40:27):
No, I mean that is what you don't have to pay.
Speaker 4 (40:31):
Yeah, but you know I loved price properties. If you're
selling a house, you should get it priced. You'll get
far more interest. No one has to guess.
Speaker 2 (40:40):
So do you like the fact that they've said this
is what we want?
Speaker 3 (40:43):
Yes? I do.
Speaker 2 (40:45):
As opposed to auction where I mean, that's that's the thing.
Speaker 4 (40:48):
I'm a big fan of auction though, don't make me choose, okay, okay.
Speaker 2 (40:53):
So anyway, go and check it out. The address is
what was the address again? It was eighty two brooks
View Heights, Tasman. As I say, five bedrooms. If you're
into your cars, it's got four car garage pool, swimming pool,
tennis court, spa Paul beautiful views. Go and check it out. Hey, Alane,
lovely to meet your Nice to having the studio first time.
Speaker 4 (41:13):
Oh thanks so much for having me and Bed a
great time.
Speaker 2 (41:15):
Good not too painful then excellent. Good to know anyway, Hey,
we'll be back with the Parent Squad. Is next. Google
Sutherland's joining us talking about the school holiday's boredom settling
in Is it okay to let your kids get bored?
We'll be talking about that, among other things with Google
in just a moment Vaccent.
Speaker 1 (41:32):
For more from the Weekend Collective, listen live to News
Talk ZEDB weekends from three pm, or follow the podcast
on iHeartRadio
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