November 7, 2025 • 41 mins
There's a lot of uncertainty around the property market at the moment.
In the past decade alone, we've seen the introduction of the brightline test, the relaxing of the brightline test, countless policies making life harder for investors and landlords, and now the looming question of capital gains tax.
But how much does the government actually influence whether we buy and sell, and at what price?
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Episode Transcript
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News Talks EDB.
Speaker 2 (00:19):
And welcome to you if you have just joined us.
This is one Roufradia show on the Weekend Collective, So
welcome in or welcome back. This is where we want
your calls and participation on eight hundred and eighty ten
to eighty text nine to nine two. Participation sounds so holistic,
doesn't we want your rancid opinions or not? Maybe not
so much that anyway, Just looking ahead to laughter five
(00:40):
o'clock for the parents Squad, we're talking with Sarah Chatwin
around helping your kids deal with the stress of exam season.
But right now, as I say, it's the one Rufradio
show and we want your calls comments on eight hundred
eighty ten to eighty And what we're going to have
to chat about is initially now, this is not so
much about CGT we discussed that last week, but it
is about that sort of specter of uncertainty that raises
(01:03):
its head as we head towards another election. So I mean,
there's probably a bit of uncertainty around the property market
at the best of times, but of course we have
tax conversations around CGT and changes of government and will
tax dedictability for investors be removed again against interest or
And it doesn't seem that there's a lot of common
(01:23):
ground between political parties on the tax issue at least,
And I want to ask you do you think about
that when it comes to your decisions around buying, Well,
your own property is not such a big one, but
in buying an investment property or a second property, do
you worry about future political upheaval and uncertainty? Because it
(01:44):
still feels to me like we have a way to
go before we have some sort of settled what's the word,
but a cord between parties where we have a rough
idea that what the situation is now is going to
be what the situation is like policy wise in the
next five to ten years. Heaven forbid anyway. So we
(02:06):
want to know what you reckon. Do you think a
long way ahead when it comes to the stuff, does
the political and the difference between the parties frighten the
horses for you a little bit? And to discuss it,
we have he's the managing director at Harcourts and his
name is Brian Thompson. He's it with us right now,
ok a, Brian, how are you going?
Speaker 3 (02:22):
Good tim Thanks having me along.
Speaker 2 (02:23):
Yeah, thanks for coming.
Speaker 4 (02:26):
Yeah.
Speaker 2 (02:26):
I mean there has been an interesting week or two.
Does all this political uncertainty and these discussions and inevitably
look where I'm mentioning CGT because that was the obvious one,
but then you get Chloe with wealth taxes and then
people wondering what's tax deductibility? Does it frighten the horses
when it comes to your market?
Speaker 3 (02:45):
I think the questions too for old I think you
can ask the question does it or you can ask
the question should it? Yeah, And if you look statistically
over most election years, there can be a bit of
a hesitation and the volume in the market leading into
an election and potentially just afterwards while people get their
heads around what actually might happen and what actually has happened.
That's the does to have an impact? My question is
(03:06):
rather should it have an impact? And I'm very clearly
of the view that it should.
Speaker 2 (03:10):
Not, probably because you want an active market being at hardcourts.
Speaker 3 (03:14):
No, no I need to do would be that that
would be the cynical relive view of a real estate
agent talking on the radio. I don't blame you for that.
But no, if you ever think about it, the vast
majority I'm talking residential property, The vast majority of residential
property has transacted because a family want a home for
(03:36):
them and their kids and their future, and they're not
going to buy it this year and sell it next year.
They're going to buy it now and they're going to
live in it for the length of time it suits
their needs, and then they'll trade on to another one.
So it's a multi year, if not multi decade, decision decision.
So what happens over the next month or six months
or twelve months. It's too bold to say it's irrelevant,
(03:57):
but it really is, because different things will happen during
the period of time you own it, and when you
come to sell it again, most likely you'll another property
and it will have gone up or down in value
or change just like the one you've got.
Speaker 2 (04:09):
I think funny thing is the capital gains tax discussion
shouldn't be something that really matters nearly as much as
the one that would frighten me a little bit if
I was looking at being investor, would be if our
government came in and said, oh, by the way, we
were removing interest deductibility because all of a sudden, your
ongoing maintenance of costs income rent versus paying mortgage that
(04:33):
does instantly close enough to instantly, isn't it get affected?
Speaker 5 (04:37):
Well?
Speaker 3 (04:37):
I think once again, investors, a long term thinkers, and
all of those things tink around the edge, and every
time a government gets involved in a market, you get
an equal and opposite reaction to what they're trying to achieve.
The market will always sort itself out. So I think,
so much noise in the political sphere, particularly right at
the moment, and a lot of the talk has got
no detail behind it, so you can get yourself all
(04:59):
het up on things that may or may not happen
because we live in an MMP environment and you don't
actually know who's going to be able to do what
do you see where the vote's for? So why would
you wait?
Speaker 2 (05:11):
Yeah? Actually I got the one thing as I mentioned,
the interest deductibility would worry me because if you have,
say border house, you've got the deposit, you're budgeting that
you're going to have tenants in the property maybe ten
and a half eleven months out of twelve. You can
tell me if that's wrong or not. And all of
a sudden, this rent pays the expenses and all of
(05:33):
a sudden it doesn't quite because you're having to you
can't claim the tax. That can that can just that
can be a very precarious situation, can't it.
Speaker 3 (05:40):
If you are very highly leveraged in any form? That could? Yes,
But when you look at the level of debt that
a lot of investors carry, is it high, is it low?
That between that will vary between different situations. So, as
I say, every move by people who are not involved
in the market has an equal and opposite move. So
you've got to be very very careful because if you
look at the that's a particular piece of impact. As
(06:01):
we know, a vast majority of the rental stock in
New Zealands owned by private investors.
Speaker 2 (06:06):
So eighty five percent, isn't it.
Speaker 3 (06:08):
It's critical So and landlords, the vast majority of landlords
care about their properties and they care deeply about their tenants,
providing them a safe and warm environment to live in.
So that's not a part of the market people would
want to see disappearing.
Speaker 2 (06:22):
No, Hey, what percentage of Actually you mentioned that the
vast the vast amount of transactions, number of transactions of
people who want to buy a home for them to
live in. What are the stats And because a lot
of the conversation we have in terms of the rhetoric
of talkback as either pro or anti investor or in
the inflammatory comment, you know, the inflammatory rhetoric around investment,
(06:43):
and are actually people buying their own home?
Speaker 3 (06:46):
I can't give you that percentage off the top of
my head, but the most common percentage has been spoken
about over the last three, four, six, twelve months has
been that there's been around about twenty five percent of
the transactions have been taking place with first home buyers.
And that's probably one of the most exciting statistics to
look at because you know me, is the excitement of
people securing their first home, whether they twenty, thirty, forty,
(07:07):
or fifty years of age, significant significant milestone.
Speaker 2 (07:10):
That's apparent. I've just done a quick gurgle. That's about
two thirds two thirds of a property transactions are owner occupied.
That is that's actually quite I've never actually questioned what
that statistic would be because I don't know, we always
focused on a particular part of the market. So what
are you saying about their first home buyers?
Speaker 3 (07:27):
That twenty five percent of the transactions over the last
X number of months have been to first home buyers,
and it's it's been like that for quite some time.
Speaker 2 (07:35):
When was it at a low? I imagine when property
prices really went through the roof, I guess, And.
Speaker 3 (07:40):
Yeah, But the fluctuations you talk about are often fluctuations
that people perceive rather than what they actually are TI.
So you've got to be careful when you look at
the marketplace because the froth at the top and the
bottom often gets a lot more focus than what it should.
Speaker 2 (07:53):
Do you think when people worry about government changes, it's
just I mean, because there are all sorts of reasons
people will procrastinate making a decision. Probably a lot of
it's just your innate personality as to whether you a
bit scared to take that leap, because the first leap
into property is always a huge step, isn't it.
Speaker 3 (08:09):
Well, I think if you look at a real estate transaction,
for a lot of people, it's the biggest financial commitment,
the biggest financial transaction they'll ever be involved in. So
it's quite understandable to know that people would get nervous
and listen to the noise that comes from all sorts
of different sectors of the media, from the political spectrum,
from friends and families, listen to them and make the
(08:31):
best decision they can. But there's a great cartoon that
floats around every now and then, and that's a picture
of a very very old gentleman saying he's waiting for
the market to come back. And the simple factor, it doesn't.
The market grows over a long period of time. So
it's very easily and understandable for people to get knocked
off their aim of the transaction they wish to make
(08:52):
because of what they hear going on around them. But
if you go back to the simple facts as a
real estate transaction, for most of us, myself involved, I
mean my wife and we've been living our property for
our fifteen years, So what's happened, what was happening when
we purchased it, what's happened in between it? It really
pales into insignificance from the environment that you're putting you
(09:13):
and your family into. So you've got to be really
careful that you don't let the noise knock you off track.
Speaker 2 (09:17):
But it does not. People have tracked because you know, obviously,
when we see interest rates go through the roof or
prices go I mean, people get how much of the
decision around people making to get into the market is
based on the numbers versus their emotions on something Well,
I think because, for instance, when property prices went through
(09:37):
the roof because of cheap money, there came a point
where it's like, well, I'm just out because I'm out,
and there becomes a point, as you say, where first
home buyers start creeping in. That's not so much an
emotional decision, that's a money decision. Is there always a
money decision? And how much does personality get in the way?
Do you reckon because you must have had a lot
of experience of meeting people who are interested in Maybe
they've already overcome that hurdle if they're talking to you,
(10:00):
but there will still be a psychological sort of like
I'm not so sure, blah blah blah as the poster
where you might be looking and go, well, the money
makes sense, You've got the money. Well.
Speaker 3 (10:09):
The funny thing is, and I don't know if this
is the right vocabulary to use, because I was listening
to you speaking in French last session, which was really impressive. Really,
I didn't know.
Speaker 2 (10:19):
That I didn't you strong, I didn't know you were.
Speaker 3 (10:21):
Fluent in French, to be fair, and Tyra was also
quite surprised. But when you look at a real estate transaction,
there are a whole lot of things come into it.
People buy location first, price second, so we all have
a type of property in a location we wish to buy,
and then we see how our finances fit around that.
Some people are purchasing on a bank imposed limit, that's
they've been to their finance advisor and said how much
(10:43):
can I borrow and they go out shopping to the budget.
Other people have no budget whatsoever. They are on a
self imposed limit, and then you go into the market.
But wrapped around all of that and all of the
emotion that comes into purchasing, particularly home to live in,
is the fact that human beings are herd animals. We
like to do things in the main that other people
are doing, and that's why when you see a market
(11:04):
that's speeding up, when the price is increasing potentially or
volume going up, people are more confident to make a
decision because they see other people making the decision. And
it's also the same when the market slows down. But
people see people slowing down, so over and slows down.
Apart from the people who can take that little bit
of emotion out of the transaction, start thinking logically.
Speaker 2 (11:26):
Do you remember when you do you remember what your
hurdle was or what actually got you into I don't
mean what you heard like it. You might not have
had any hurdles. You might have just sort of though
I've always wanted to buy real estate in your first
property was an easy decision. But do you remember your
journey to buying your first property?
Speaker 3 (11:42):
I do. We built our first property.
Speaker 2 (11:45):
You went, you're not old enough for that. I've had
some talk back about that state EI. There was some
people canal it's much older call. To be honest, I
couldn't remember when they did that. You know what I'm
talking about, When people capitalize their family benefit or something
three percent for the rest of their lives or something. Anyway,
that was a good deal. So sorry, I'm just channeling
(12:07):
a completely different conversation. Do you remember what it was
that led to you building your first home?
Speaker 3 (12:13):
Well, when we were looking for a property to purchase,
we'd moved, actually we'd moved moved locations and we didn't
find when we wanted to buy, and we found a
section we could build on, and the dollars and sents
made sense. And to be able to own a property
at what time of life was it for you are
going to say thirty.
Speaker 2 (12:32):
Ish okay, and you had family or where were you
at in the sort of Christopher, Because for us, the
decision to make made to buy was because we were
having we'd had, we're about to have our first child,
and to me that was okay, got to get real
and better make an offer to the Landlord's just how
(12:52):
we did ours.
Speaker 3 (12:54):
I mean, it's from your discussion just now. It's clearly
a long long time ago for me. But the reality
is I think that deep down in home that you
know you're not waiting for a land or to put
the rent up or maybe sell the property and have
to move out, so owing we live. I think it's
always been important.
Speaker 2 (13:10):
To us and why build for you, because that's it's
not like you know, here we go, we want to
buy a house, and there it is.
Speaker 3 (13:16):
That's it made sense. And the real estate agent we
were dealing with at the time introduced us to how
about this for an option. Here's a section you could
do this, and here's the timeframe in it. We thought, heck,
and away we went.
Speaker 2 (13:28):
So it sounds like it was an easy decision. I'm
not good on you. I wonder if there's some people
listening to be like, oh god, I wish it was
felt that easy for me. So was it stressful?
Speaker 3 (13:38):
No, just yet, No, it was. It was there's no
question about that. When you're building, when you're building on
a budget, it's really there are things that go right
and things that go wrong. But it's interesting the moves
that people will make to get into their own home.
I mean, we lived with concrete floors for quite some time,
(14:00):
and calico hung over the windows, and we didn't build
a garage on the proper. I'm guessing now Leanne will
be listening. I think she can probably remember better than me.
But landscaping and gardens that came later, So we were
prepared to do that.
Speaker 2 (14:13):
So you did, you did, I don't mean the bear bones,
but you did what you needed to get a house
and a roof over your head, and the concrete floors
you thought, well, we'll sort that out later. Really. Yeah,
so that is because that means you're not I mean,
what were you have an initially eventually done carpet or
something I guess over time. Yeah, so you basically stretched
(14:34):
yourself just to get into that house, get it built,
and then carry on from there.
Speaker 3 (14:38):
Yeah. Well, my wife is a very very smart individual.
She picked well, but she worked really really hard, as
did I to get ourselves in the position that we
could actually get into a home. And then we did
what it took to get into that home.
Speaker 2 (14:52):
When did you consider that? Sorry, I mean, it's just
interesting to hear people's stories on this, but we love
your cause on this, by the way, eight hundred and
eighty ten eighty. We'll look and we started talking about
the uncertainty politically around what governments are going to do
with when it comes to property capital gains. Does that
make a difference to your decisions on property? But the
second question that's come out of and chat with Brian
(15:13):
is overcoming that hurdle to get into your first property.
How long did it take you before you considered your
property was finished? You know, it's one thing to get
the roof and move in, it's another thing to get
it carpeted and curtained and all those things. Or is
the answer to that question that you never finished?
Speaker 3 (15:34):
I think that is the answer. I don't think anyone's
You can always find something that would be better if
you're handy and you can do things yourself. A lot
of people are always working on their properties. I'm not.
I'm absolutely hopeless in that regard doing stuff myself. But
I think as you move through different stages, aren't you
the home that was suitable for you five years ago
(15:54):
might not be suitable anymore. So you might purchase a game,
and you might purchase one that's one hundred percent spick
and span and perfectly as you like it, But dollars
to doughnuts, you're probably going to move it and all
of a sudden you need to change something. So it's
an ongoing process. It's an ongoing process. But I'll tell
you going back to your original question about the political
noise and trying to do you make a decision or
(16:17):
do you wait and see? It's a little bit like
a lot of things when you're looking at making a transaction.
Do you wait and save a bit more so that
you don't borrow as much? And do you risk the
market getting away for you? Do you borrow the money
now or do you wait? There's lots of random things
that get in your race.
Speaker 2 (16:33):
Did you notice anything with the last week or two,
you know, with chatter and stuff around. I mean, I'm
trying to avoid talking about it again, the actual CGT
and all that, which I don't get as excited about
as some people. But to me, I wouldn't have thought
that a CGT would make any difference to people wanting
to get into property because if you're going to make money,
you're going to make money. It's like me turning out
(16:54):
to work. I'm going to get text on it, but
it's still turn up.
Speaker 3 (16:56):
Yes, it's really hard for me to answer that because
some listeners will say it's women real estate agent. Of
course he doesn't want it might slow the mark it
down and that's not the case. My concern with that
particular announcement and is the lack of detail around it.
So there's been this well that's really.
Speaker 2 (17:16):
Why I came, we decide we want to talk about it,
because it wasn't like it was fleshed out. It's just
this uncertainty, what the hell is it going to look like?
Speaker 3 (17:23):
So if you if you go to Australia at the moment,
and the market in several states in Australia is absolutely
on fire. Now they have a capital gains tax and
stamp duty and all sorts of other things. So that's
why I say I think that I think that people
getting involved in a market to try and manipulate it. It
never works in my experience out there.
Speaker 2 (17:45):
Okay, look, we love your cause on this eight hundred
and eighty ten eighty. Does the does the political machinations
we're going to election next year, uncertainty around what party
is going to have, what rules? Does that affect the
way you view the real estate market or not? Do
you just think, well, you know, politicians will do what
they do and I'll just sold youer on, give us
a call. Eight hundred eighty ten eighty. But the secondary
(18:07):
question is everyone at some stage has to overcome whatever
psychological or financial hurdles to get their first home. How
did you deal about making those decisions for you? Because
it is a big deal, and as you've heard from Brian,
you know they got and they built, but it's not
something that you've necessarily ever finished. Eight hundred eighty ten eighty.
It's twenty five past four news talks there'd be This
(18:28):
is one with Raddy Esham. My guest is Brian Thompson.
He is managing director at Harcourt's New Zealand and we're
talking about the political uncertainty. Does it affect the market
in terms of your decisions about what you want to do?
And I think as we would agree Brian, is that
(18:49):
if you're looking for somewhere to live, you're looking for
someone to live in. What the government does is neither
here nor there. But I've got a text here from
someone on the on the investment side of things. Hi, Tim,
your guest, Brian is very optimistic in all and caps
when talking about landlords and government policies. We are mom
and dad investors with three properties and we are very
(19:11):
concerned about the Left block getting in. We're not highly leveraged,
but even with Labour's non tax deductibility at seventy five percent,
we had a bill for tax of fifteen thousand dollars
instead of a rebate. It may not be a lot
for some for your guest, but if Labor gets back
in again and implement this plus a CGT, we'll have
to sell as we couldn't afford to keep our properties
(19:31):
after twenty years of hard work and heading towards the retirement.
This would be gutting for us. Chairs Rob, what do
you reckon, Brian?
Speaker 3 (19:39):
Hey? Rob, and fifteen thousand dollars is a big chunk
of money for anyone. I can assure you of that.
The fact is it is a concern when you think
about it and think if a government got in and
all of a sudden started significantly penalizing property investors. But
my view is that if you said, the heck that's
(20:01):
going to happen, I'm going to sell my properties now,
and the opposite happens, then all of a sudden, you've
put aside what is a really strong investment portfolio you've
put together over a number of years. So it'd be
the first thing I'd say. So you're almost tossing a
coin thinking about who's going to win the election and
then what they are going to do.
Speaker 2 (20:20):
And though it looks like they're saying that if a
change of government comes in, they would then sell, but
I guess you need to anticipate that.
Speaker 3 (20:28):
Oh good, I So it's really hard. It's old toss
a coin, what's going to happen? And you could say that,
I mean, if you throw a coin up and call
heads or tails, some statitistics will tell me I don't
know what I'm talking about, but you've got a fifty
percent chance of either one coming up from what I believe.
So you've got to look at it and say, what
is the best decision we can make. You've got a
really good, strong portfolio you had for a number of years.
(20:50):
If you sell it, what are you going to do
with the money that will provide you the same the
same return and the same solicity you've got at the moment.
And I just go back to saying what I did before.
I think that the people and government are really well
aware of the important of the private landlord to the
rental sector, and I don't believe they're going to do
anything absolutely drastic that will put that at risk.
Speaker 2 (21:12):
You actually, you did say the people in government are
very aware of it.
Speaker 3 (21:17):
I believe they are very aware of it.
Speaker 2 (21:19):
What about the people who want to be in gomor?
I was thinking, because I know you didn't say the
people in parliament. You see the people in government.
Speaker 3 (21:29):
That that may be. That may be. That's a slip
by me, that's a slip by belmatory. I'm trying really
hard not to be inflammatory. Yet you've told you the
wrong place. I think when you look at it, there's
so much chatter around in the political sector because the
people who aren't elected want to get elected, so they've
got to try and put something forward that's opposite to
(21:51):
what the people in power are. So there's always a
lot of chatter going in, but the reality is, if
you come to push the button on a policy that
is going to negatively impact something really really important to society,
you're probably not going to have the power for very long.
Speaker 2 (22:04):
Just before we go to our callers, look and we
don't need to get all tighter knots about a CGT,
but just feel like eventually, the longer time goes, we'll
probably have something. Even though we do have one on
the form of the bright line over a time dependent one.
I just wonder do we do you think how important
is it that the political parties actually end up on
(22:24):
a similar page so people don't have to worry about
whether a labor government's in, or whether a labor Greens
or Labor Mari, or whether national and act. I mean,
because the tax situation and labor that'll move around a
bit with a labor government, but the CGT is on there,
that's not going to change. Stamp duties in might tink
around the ngines with that. Do we need to have
(22:47):
some cohesiveness between the parties or will that just happen
with time.
Speaker 3 (22:52):
Well, a couple of things. With the political system we've
got being m MP, everything's a compromise anyway, so that
takes some of the humps and the bumps out of policy.
But I think a situation where some key things that
the that the is central government are in charge of,
it would be nice to have some consistency, because I
don't think any society wants great, big, polar opposite swings
(23:13):
every time there's a change in government. I don't think
that's good for anyone. But equally, I think having a
whole lot of people with the same point of view
in the room all the time is very, very dangerous
because you only know what you know, so you don't
you don't want a whole lot of people, no matter
what badge, they were all thinking the same. I think
that would be very dangerous.
Speaker 2 (23:30):
Okay, right, let's take some callse eight hundred eighty ten
eighty Phil.
Speaker 5 (23:34):
Hello, good eight?
Speaker 2 (23:36):
How are you good? Thanks?
Speaker 3 (23:38):
I Phil?
Speaker 6 (23:39):
Good eight?
Speaker 2 (23:40):
Mate?
Speaker 3 (23:40):
How are you very good? Thank you?
Speaker 6 (23:43):
Excellentescellent. Yeah, I'm not an investment for us in an
investment of property by I haven't bought any investments, but
I did buy my own home. And when I bought
my own home, I didn't worry about which governments were in,
or what government was going to be in, or what
government was possibly going to do, or future government. That
I basically bought my own home because I just got
(24:07):
tired of flatting. You know, I flatted for about five years,
and I just got tired of being at the whim
of a landlord and you're moving in and out the
flats yourself, and then this flat MAT's coming in and
out and that uncertainty, and it's quite.
Speaker 2 (24:18):
A good motivation, actually, Phil, isn't it just sick of flatning?
Speaker 5 (24:22):
Yes?
Speaker 6 (24:23):
Yeah, it was. It was. It was. And at the time,
I had a good job. I had a good solid job,
and I had the money, and I thought, well, I
wasn't exactly sure if I had the money, but I
bought in a time where you know, you could borrow
ninety percent of back in the day, and you only
had to have about ten thousand dollars depositive sort of thing,
(24:44):
you know, on your property in that and yeah, so
I decided, right, I'm going to go for it. And
when I bought my plate only a small place just
in christ Church and Russeley or or aven here if
I want to get a bit more money for it.
But I'm in one of those neighborhoods where I'm on
(25:07):
the side of the boy. Yeah, on this side you
don't get so much word. If you go on this side,
it goes up a bit more. But it's just a
small bedroom, but probably one of the oldest places in
the streets. So it only cost me just over a
couple hundred thousand dollars. And that was twenty years ago
and a bit.
Speaker 2 (25:25):
And as twenty years ago, phill two hundred thousand dollars
would have got you quite a nice place.
Speaker 3 (25:30):
I would have thought, Yeah.
Speaker 6 (25:32):
Well I got a wee deck on the on the
outside in the backyard, and and yeah it's not a
bad replace, not bad. But it was bought and it
was built in the nineteen fifties. He's two bedroom wooden place.
But it came with how did.
Speaker 2 (25:45):
You find it? Did you wander into any particular agent,
or did you look in the in the in the
paper or what did you do?
Speaker 3 (25:52):
Well?
Speaker 6 (25:52):
I was I was quite fortunate. I just where I
was working. I was working at in New Zealand, at
the time as a baggage handed loader. And that's why
I say, quite a good job with a good company.
And I just started asking around the boys that I
was working with, you know, they just for advice, you know,
because I'd never bought a home before. It's your first home.
(26:12):
So I just started talking to the fellows I was
working with them, the boys, and saying, do you know
anybody or wasn't there?
Speaker 3 (26:17):
And that's normally how it happens. I have to say.
I have to say, for a lot of people find
their agent at home like that. And the other thing
I'll say is, you don't want to be you don't
want to be calling you your home a little wee
tiny thing and not that flash. Because a human beings
home is their castle. And the people who live in
the smallest, cheapest properties in the world that they own
(26:38):
are just as happy and proud as the people who
in fact, quite often more happy and proud than the
people who live on the ones overlooking the beach that
cost you millions and millions and millions of dollars. So
you you enjoy your probably you're in a great part
of the world. And christ Church at the moment, as
everyone knows. They tell me that most of Auckland are
moving there at the moment. The market's strong. It's a
city on the rise.
Speaker 2 (26:59):
Actually, by the way, twenty years ago, a couple hundred
thousand dollars I think a lot of money that was.
That was a generous bend in christ Church back very
much so. I imagine you've got quite a nice little
spot there, fell even though I don't know about the
Avenhead Rustley thing. That's out of my pay grade to hardcourts.
You guys are very strong and Chriss I know all
about that.
Speaker 3 (27:15):
Are both great suburbs. There's a lot of great people
live there. If you're looking for your house and have
you'd hit a rusty or I know some people.
Speaker 2 (27:21):
Actually you know that. I'm glad you made that point
about the home of the castle and all that sort
of thing, because you know, you don't have to be
living and you know, we've got some beautiful properties around
where I live. But the satisfaction I get from mowing
our little patch of grass, even though that we can
do with a bit of improvement. But the little things
you do around the place to tidy up and you go,
God's satisfying and.
Speaker 3 (27:41):
Phool's comment about he was sick of flatting. It takes
a while to get to that stage because from my
memory and it's a long time ago, as you've said
to flatting flatting, flatting was actually quite good. Fund.
Speaker 2 (27:52):
I was just kidding about the long time ago. But
you're not going to let me forget that. Tell you what, Craig,
Sam and Pete hang around, will be back in just
the tickets. Twenty three minutes to five News Talk said
be We're with Brian Thompson. He's managing director at Harcourt's
Teaking calls one hundred eighty Tennaty Craig, Hello.
Speaker 7 (28:08):
Yeah, hi guys. Look, I would love to have the
positivity that our tamed realistic agent is feeding us thing.
But yeah, thank you Brian, and I do appreciate listening
to you.
Speaker 3 (28:20):
Man.
Speaker 7 (28:21):
That's good to hear.
Speaker 2 (28:22):
Everybody's there's a big heary back coming, isn't there, Craig.
Speaker 7 (28:25):
It is definitely a big herey.
Speaker 5 (28:26):
But so.
Speaker 7 (28:29):
We have a rental we have our own home and
a rental property. The rental property, You've got to remember
there's things like the fact that you can't actually claim
any tax back or anything else for you can claim
for maintenance, but if you want to improve it. So
if you've got a kitchen that's twenty five years old
and you want to bring new kitchen and to look
after your tens capital, that is an improvement that is
(28:51):
not a It doesn't fall under maintenance, so that just
costs you.
Speaker 2 (28:56):
Yeah, that's it.
Speaker 7 (28:59):
So from twenty twenty that property has not going to
out go enough in price. It's pretty much stagnant. I mean,
we had to do all things you had to do
to bring it up to standard for labor, so which
I don't have a big issue with. Like you know,
it's I think it's quite good to have the Healthy
(29:19):
Homes initiative, but you're not making money out of it,
like a twelve thousand dollars tax bill each year, so
which comes down to your own pocket. And then you've
got property that hasn't even gone up in price.
Speaker 2 (29:32):
So are you just expressing your pessimism about where we're
at or is it something that Brian said that you are.
Speaker 7 (29:37):
No, no, no, just just and it's more about sort
of I'm not having having a dig at Brian here
because this is this is just reality. But the polic
don't think it's politics, and that's where it gets really
really confusing and kind of difficult for small landlords to you.
(29:59):
As I said, we're going to got one.
Speaker 3 (30:00):
Yeah, there's no question, Craig, You've got You've got to
know what you're doing. You've got to have the right
support in regard to when you invest in the property
when you don't. Because I won't apologize for being positive.
I hope I'm not Pollyanna and unrealistic, but my outlook
would be, you can't claim your capital improvement, but it
(30:20):
will add to the value of your property. And I
know you're not selling it, so you could say that's
money that you've buried in for no more return. But
I do see it having a positive upside. The thing
that I would say, and I keep going back to
because I can understand the first couple of homes that
we owned when we brought them to when we sold them,
the only difference in our equity was what we had
(30:41):
paid off our mortgage, and we had spent money on
them and done all sorts of things. So you go
through periods where you could say we haven't made any money.
You'll go through other periods of time when you look
at it and say we haven't made any money cash
flow wise, but the properties you've gone up five or
ten or fifteen or twenty percent. So I think the
key thing for me is is that when you're in
an investment, when you're in an investment position, and I
(31:05):
don't know anything about shares at all, so I'm not
going to advise you on those. But with property is
a great saying that and this too shall pass. So
if your timeline's correct, then it will come come out
on the right side. And I say that with total
confidence because they say the best predictor of future behavior
is past behavior in the same context, and that's what's
always happened in the past now, and my view is
(31:26):
that's what's going to happen in the future.
Speaker 7 (31:28):
Okay, So that's five years we've heard the property. We've
done improvements, quite significant ones the resale value. Where now
because we are actually looking at something the property because
we're kind of a bit over yes where every government's
swapping and changing their politics. So at this point the
capital improvements we've made on the property have not actually
(31:51):
been realized when it comes to rest. And then we're
in a position where we're possibly looking at another labor government
coming in, so we're going to get slammed again. So
it's well, yeah.
Speaker 2 (32:04):
I mean actually have to move on Craig. But I
think Craig's saying, yeah, the politics matters for.
Speaker 3 (32:08):
Him, yes, and that's everyone's entitled to of you, not
saying it's right or wrong.
Speaker 2 (32:13):
By the way, in terms of the totality, report does
saying that the market has been you know, sort of
slarting on the way, but it does look like it's
sort of leveling out of it now, doesn't it. Just
on a quick market.
Speaker 3 (32:22):
Talk about anecdote, a talk about statistics wise, you can
certainly see around New Zealand that the market is trying
really hard to get better. The volume of sales is increasing,
and so it should. We're going into peak selling season.
It's November December, so you know, right through the in
the March peak selling season. But it is certainly running
ahead of where it was last year in our experience
at the moment, there are more inquiries coming in, there
(32:44):
are more people through open homes and transactions taking place.
We're not seeing values exploding upwards and that sort of behavior,
but the market is certainly on the improved right.
Speaker 2 (32:53):
Sam today. Sorry, Sam, I'll just come back to you
in a second.
Speaker 5 (32:59):
Pete Hello, Yes, yeah.
Speaker 4 (33:03):
My way looking at it is that New Zealand has
been too much of a gravy train for so long
for investors making money. And I think as soon as
they take that interest off again for property investors, the better,
because right now we know New Zealand has the highest
property around the world pretty much.
Speaker 2 (33:26):
But the problem is the problem is peide. If you
take that interest deductibility away, you make it more expensive
for someone to hold a property. They're just going to
We saw a huge lift in rents because of that policy.
So aren't you worried about the effect it has on renters?
Speaker 4 (33:41):
No, not really, because I think that this has been
going off for years. We all know this is like
you're not naming any names. Where have they made their
money pretty basic from residential properties. So it's not good
for people to have overinflated houses. You're better off having
(34:03):
moderate house prices. Then you're young, your kids, your grandkids
can afford properties right now they cannot, so you can soon.
As soon as we can slow this market down, the better,
the better. Because the banks too, they are.
Speaker 2 (34:16):
Like yeah, okay, and I pass it on to Brann
it's a shorter time there. But I think anyway where
you go Brown.
Speaker 3 (34:23):
The only thing I will say is I said it
before when you made a comment should should the different
parties have an agreement on what's going to happen in
New Zelling in the future. And my comment to you
was quite strongly that we don't want every run in
the room thinking the same. We need to have a
difference of opinion so we can have a debate at
an intellectual level about what the best way forward is.
So I don't mind people having a different view of mine.
I don't agree with our last caller at all. I
(34:45):
think that that would be a retrograde step for that
for the whole of the housing market, and particularly for
the for the people who either choose to rent or
have to rent.
Speaker 2 (34:54):
I think that's the thing people are confusing a capital
gains tax, which is taxing a profit ultimately when you
sell it, and that's one thing, But to make it
more expensive for landlords to own a proper via no
text deductibility, all they're going to do is pass it
on to tenants and that has an I put effect
on rents, and I just think it's bloody madness. Am
I out of an.
Speaker 3 (35:14):
Order with that one, Brian, I would probably say that
here on your side of the equation.
Speaker 2 (35:21):
So diplomatic anyway, Okay, right, let's go to Sam Gooday.
Speaker 5 (35:27):
Yeah, you get none. I'm a property investor own I
own them sixteen properties.
Speaker 2 (35:35):
Yep.
Speaker 5 (35:37):
If they were to bring in the interest deductibility again,
I've grown quite a lot in the last sort of
two years with this current government not being able to
deduct the deduct the interest that there will send well
a lot of well it we'll send a lot of
people broke. They will also force a lot of people
(35:58):
to sell as well. But it'll also forced rents to
go up. I know me personally, I'd put rents up
and they go up. Probably they've probably got up another
twenty or thirty percent if they were to bring that
rule back in. And what they forget to realize is
that a lot of people, especially landlords, a lot of
them hels vulnerable people and also housing New zeal intendants
(36:22):
in the private sector. Do hows a lot of housing
New zeal intendants?
Speaker 2 (36:25):
To me?
Speaker 5 (36:25):
For what I actually held a certain amount of vulnerable
people too.
Speaker 2 (36:28):
So five percent of the people of tenants private through
private landlords on.
Speaker 5 (36:34):
Yeah, and I'm not I'm not against the capital gains tax,
so to speak, as long as you're allowed to they
apply the same rules that happened in either America or Australia.
But it just seems to be in this country you've
got a parasific government on the left and you've made
up with But this is the truth.
Speaker 2 (36:53):
I'm I'm just say things that. Yeah, I mean, you've
got but the truth is.
Speaker 5 (36:58):
The truth is you've got Chloe Shawbook who doesn't know
ship from Clay.
Speaker 3 (37:01):
Okay, You've got.
Speaker 2 (37:04):
Our language a little cleaner, Sam, Yeah.
Speaker 5 (37:08):
You've got Chris Hiptons who's never had a real job
in his life. And you've got the Mary's Party and
let's be honestly, just a bunch of recards.
Speaker 2 (37:17):
Okay, I think, thanks Sam, thanks for your feedback. Yeah, trying.
I mean, you know, we don't want to be prudish
about language and things, but it is at five o'clock
in the afternoon with people listening with kids in the
car and stuff, so we do like to call our
jets a little bit on that. But for the time being,
we're going to take a quick break and it is
ten minutes to five news talks at.
Speaker 1 (37:36):
B the one roof property of the week on the
weekend collective.
Speaker 2 (37:43):
Yes, and it's timing. Yes, as the sting says for
the property of the week, it's look, it's probably not
first time buys this one. It's The address is five
sixty eight A Whitford Road. It's in Whitford, Monaco City.
Five bedrooms, three bathrooms. The house is what's a big one?
Four hundred and forty eight square meters. I think that's
reasonably big, isn't it?
Speaker 5 (38:02):
Brian?
Speaker 2 (38:02):
Would you describe that as pretty big?
Speaker 3 (38:03):
Yeah, that's a solid resident, there's no question.
Speaker 2 (38:06):
So it's discreetly nestled within a private gated community. That's
a single level residence offering an unparalleled blend of sophistication
space and resort style living. And it's architecturally designed by
the renowned Peter Dippros. Actually, i'll get your take on it. Well,
how would you describe what's your vibe on the property? Brand?
Speaker 3 (38:25):
This is your It's like a resort, isn't it would
be a wonderful family compound. You've got so much opportunity
to host people there. There's all sorts of recreational opportunities
and still more development could be done. It's a beautiful
part of the country. There's no question. It's lovely, lovely,
elite level home.
Speaker 2 (38:43):
Actually, as I'm looking at it, it does have us.
Am I wrong in saying this. It sort of has
a balley sort of vibe, doesn't it as if you're
it's something to do with the exterior and the veranda
area and the entertainment area does seem slightly sort of
Indonesian Ballei influence.
Speaker 3 (38:59):
It has got that feel about it when you see
it online, there's no question.
Speaker 2 (39:02):
At all, although it's nestled within nothing but quintessentially New
Zealand countryside, beautiful. Pull out the front anyway, go and
check it out. It is the address again? Where was that?
I just need to click up with that screen there.
It's five hundred and sixty eight five six eight A
Whitford Road in Whitford, Manico City estimate. Look the RV's
(39:22):
five million, but you know what, you might get it
for four and a half. So anyway, So what's keeping
out of mischief at Harcourt's at the moment?
Speaker 3 (39:29):
There Brian A busy time of the year, time there's
no question that as we move towards Christmas. We talked
about deadlines before with people when they make calls. People
like to be settled before Christmas, so that they brought
the home they can shift in and already before the
children go back to school, before the working year starts.
So it's one of those times, you know what, it's like,
everyone wants something done before Christmas. So the market's warming up.
Speaker 2 (39:50):
Excellent, We've got about a minute left. I just want
to ask quickly, at this time of year, how many
people actually decide that it's time to upsticks and move
somewhere else or is this more about people getting into
first homes and that's what drives it and investors and things.
Speaker 3 (40:03):
I think over Christmas, the Chris SMAs break or the
festive season, should I say the holiday break, people go
and spend time at places they love, whether it be
by the beach or the lake or in the country,
and it's often a time and people would think, could
we live here full time? And that's a discussion. I'm
sure that's taking place around a lot of a lot
of dining tables over the next couple of months.
Speaker 2 (40:22):
Right, Oh well, good, Hey, thanks so much. For coming
in and sharing your views. There, Brian, we managed to
keep you relatively out of the political political malay. Maybe
no thanks to Sam at the end, but there we go.
Speaker 3 (40:34):
Always interesting, Tim, thanks with invite.
Speaker 2 (40:36):
Good stuff anyway, if you like to catch any of
our discussions and I forget we had a fun panel
also with the Richard Lindrew's and Mark Kreisel. You can
go to our iHeartRadio and look for the Weekend Collective
and we get everything loaded pretty quickly after each hour's concluded,
so do go and check it out there if you've
missed any of this hour as well, and we'll be
back for the Parents Squad. Sarah Chatwin's with us. It's
(40:58):
exam time. How do you help your kids deal with
freaking out before their exams hit? So we'll be having
a chat about that with Sarah among other things on
the Parents Squad. This is News Talk seed B. You
know the number backsone.
Speaker 1 (41:11):
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 EDB.
Speaker 2 (00:19):
And welcome to you if you have just joined us.
This is one Roufradia show on the Weekend Collective, So
welcome in or welcome back. This is where we want
your calls and participation on eight hundred and eighty ten
to eighty text nine to nine two. Participation sounds so holistic,
doesn't we want your rancid opinions or not? Maybe not
so much that anyway, Just looking ahead to laughter five
(00:40):
o'clock for the parents Squad, we're talking with Sarah Chatwin
around helping your kids deal with the stress of exam season.
But right now, as I say, it's the one Rufradio
show and we want your calls comments on eight hundred
eighty ten to eighty And what we're going to have
to chat about is initially now, this is not so
much about CGT we discussed that last week, but it
is about that sort of specter of uncertainty that raises
(01:03):
its head as we head towards another election. So I mean,
there's probably a bit of uncertainty around the property market
at the best of times, but of course we have
tax conversations around CGT and changes of government and will
tax dedictability for investors be removed again against interest or
And it doesn't seem that there's a lot of common
(01:23):
ground between political parties on the tax issue at least,
And I want to ask you do you think about
that when it comes to your decisions around buying, Well,
your own property is not such a big one, but
in buying an investment property or a second property, do
you worry about future political upheaval and uncertainty? Because it
(01:44):
still feels to me like we have a way to
go before we have some sort of settled what's the word,
but a cord between parties where we have a rough
idea that what the situation is now is going to
be what the situation is like policy wise in the
next five to ten years. Heaven forbid anyway. So we
(02:06):
want to know what you reckon. Do you think a
long way ahead when it comes to the stuff, does
the political and the difference between the parties frighten the
horses for you a little bit? And to discuss it,
we have he's the managing director at Harcourts and his
name is Brian Thompson. He's it with us right now,
ok a, Brian, how are you going?
Speaker 3 (02:22):
Good tim Thanks having me along.
Speaker 2 (02:23):
Yeah, thanks for coming.
Speaker 4 (02:26):
Yeah.
Speaker 2 (02:26):
I mean there has been an interesting week or two.
Does all this political uncertainty and these discussions and inevitably
look where I'm mentioning CGT because that was the obvious one,
but then you get Chloe with wealth taxes and then
people wondering what's tax deductibility? Does it frighten the horses
when it comes to your market?
Speaker 3 (02:45):
I think the questions too for old I think you
can ask the question does it or you can ask
the question should it? Yeah, And if you look statistically
over most election years, there can be a bit of
a hesitation and the volume in the market leading into
an election and potentially just afterwards while people get their
heads around what actually might happen and what actually has happened.
That's the does to have an impact? My question is
(03:06):
rather should it have an impact? And I'm very clearly
of the view that it should.
Speaker 2 (03:10):
Not, probably because you want an active market being at hardcourts.
Speaker 3 (03:14):
No, no I need to do would be that that
would be the cynical relive view of a real estate
agent talking on the radio. I don't blame you for that.
But no, if you ever think about it, the vast
majority I'm talking residential property, The vast majority of residential
property has transacted because a family want a home for
(03:36):
them and their kids and their future, and they're not
going to buy it this year and sell it next year.
They're going to buy it now and they're going to
live in it for the length of time it suits
their needs, and then they'll trade on to another one.
So it's a multi year, if not multi decade, decision decision.
So what happens over the next month or six months
or twelve months. It's too bold to say it's irrelevant,
(03:57):
but it really is, because different things will happen during
the period of time you own it, and when you
come to sell it again, most likely you'll another property
and it will have gone up or down in value
or change just like the one you've got.
Speaker 2 (04:09):
I think funny thing is the capital gains tax discussion
shouldn't be something that really matters nearly as much as
the one that would frighten me a little bit if
I was looking at being investor, would be if our
government came in and said, oh, by the way, we
were removing interest deductibility because all of a sudden, your
ongoing maintenance of costs income rent versus paying mortgage that
(04:33):
does instantly close enough to instantly, isn't it get affected?
Speaker 5 (04:37):
Well?
Speaker 3 (04:37):
I think once again, investors, a long term thinkers, and
all of those things tink around the edge, and every
time a government gets involved in a market, you get
an equal and opposite reaction to what they're trying to achieve.
The market will always sort itself out. So I think,
so much noise in the political sphere, particularly right at
the moment, and a lot of the talk has got
no detail behind it, so you can get yourself all
(04:59):
het up on things that may or may not happen
because we live in an MMP environment and you don't
actually know who's going to be able to do what
do you see where the vote's for? So why would
you wait?
Speaker 2 (05:11):
Yeah? Actually I got the one thing as I mentioned,
the interest deductibility would worry me because if you have,
say border house, you've got the deposit, you're budgeting that
you're going to have tenants in the property maybe ten
and a half eleven months out of twelve. You can
tell me if that's wrong or not. And all of
a sudden, this rent pays the expenses and all of
(05:33):
a sudden it doesn't quite because you're having to you
can't claim the tax. That can that can just that
can be a very precarious situation, can't it.
Speaker 3 (05:40):
If you are very highly leveraged in any form? That could? Yes,
But when you look at the level of debt that
a lot of investors carry, is it high, is it low?
That between that will vary between different situations. So, as
I say, every move by people who are not involved
in the market has an equal and opposite move. So
you've got to be very very careful because if you
look at the that's a particular piece of impact. As
(06:01):
we know, a vast majority of the rental stock in
New Zealands owned by private investors.
Speaker 2 (06:06):
So eighty five percent, isn't it.
Speaker 3 (06:08):
It's critical So and landlords, the vast majority of landlords
care about their properties and they care deeply about their tenants,
providing them a safe and warm environment to live in.
So that's not a part of the market people would
want to see disappearing.
Speaker 2 (06:22):
No, Hey, what percentage of Actually you mentioned that the
vast the vast amount of transactions, number of transactions of
people who want to buy a home for them to
live in. What are the stats And because a lot
of the conversation we have in terms of the rhetoric
of talkback as either pro or anti investor or in
the inflammatory comment, you know, the inflammatory rhetoric around investment,
(06:43):
and are actually people buying their own home?
Speaker 3 (06:46):
I can't give you that percentage off the top of
my head, but the most common percentage has been spoken
about over the last three, four, six, twelve months has
been that there's been around about twenty five percent of
the transactions have been taking place with first home buyers.
And that's probably one of the most exciting statistics to
look at because you know me, is the excitement of
people securing their first home, whether they twenty, thirty, forty,
(07:07):
or fifty years of age, significant significant milestone.
Speaker 2 (07:10):
That's apparent. I've just done a quick gurgle. That's about
two thirds two thirds of a property transactions are owner occupied.
That is that's actually quite I've never actually questioned what
that statistic would be because I don't know, we always
focused on a particular part of the market. So what
are you saying about their first home buyers?
Speaker 3 (07:27):
That twenty five percent of the transactions over the last
X number of months have been to first home buyers,
and it's it's been like that for quite some time.
Speaker 2 (07:35):
When was it at a low? I imagine when property
prices really went through the roof, I guess, And.
Speaker 3 (07:40):
Yeah, But the fluctuations you talk about are often fluctuations
that people perceive rather than what they actually are TI.
So you've got to be careful when you look at
the marketplace because the froth at the top and the
bottom often gets a lot more focus than what it should.
Speaker 2 (07:53):
Do you think when people worry about government changes, it's
just I mean, because there are all sorts of reasons
people will procrastinate making a decision. Probably a lot of
it's just your innate personality as to whether you a
bit scared to take that leap, because the first leap
into property is always a huge step, isn't it.
Speaker 3 (08:09):
Well, I think if you look at a real estate transaction,
for a lot of people, it's the biggest financial commitment,
the biggest financial transaction they'll ever be involved in. So
it's quite understandable to know that people would get nervous
and listen to the noise that comes from all sorts
of different sectors of the media, from the political spectrum,
from friends and families, listen to them and make the
(08:31):
best decision they can. But there's a great cartoon that
floats around every now and then, and that's a picture
of a very very old gentleman saying he's waiting for
the market to come back. And the simple factor, it doesn't.
The market grows over a long period of time. So
it's very easily and understandable for people to get knocked
off their aim of the transaction they wish to make
(08:52):
because of what they hear going on around them. But
if you go back to the simple facts as a
real estate transaction, for most of us, myself involved, I
mean my wife and we've been living our property for
our fifteen years, So what's happened, what was happening when
we purchased it, what's happened in between it? It really
pales into insignificance from the environment that you're putting you
(09:13):
and your family into. So you've got to be really
careful that you don't let the noise knock you off track.
Speaker 2 (09:17):
But it does not. People have tracked because you know, obviously,
when we see interest rates go through the roof or
prices go I mean, people get how much of the
decision around people making to get into the market is
based on the numbers versus their emotions on something Well,
I think because, for instance, when property prices went through
(09:37):
the roof because of cheap money, there came a point
where it's like, well, I'm just out because I'm out,
and there becomes a point, as you say, where first
home buyers start creeping in. That's not so much an
emotional decision, that's a money decision. Is there always a
money decision? And how much does personality get in the way?
Do you reckon because you must have had a lot
of experience of meeting people who are interested in Maybe
they've already overcome that hurdle if they're talking to you,
(10:00):
but there will still be a psychological sort of like
I'm not so sure, blah blah blah as the poster
where you might be looking and go, well, the money
makes sense, You've got the money. Well.
Speaker 3 (10:09):
The funny thing is, and I don't know if this
is the right vocabulary to use, because I was listening
to you speaking in French last session, which was really impressive. Really,
I didn't know.
Speaker 2 (10:19):
That I didn't you strong, I didn't know you were.
Speaker 3 (10:21):
Fluent in French, to be fair, and Tyra was also
quite surprised. But when you look at a real estate transaction,
there are a whole lot of things come into it.
People buy location first, price second, so we all have
a type of property in a location we wish to buy,
and then we see how our finances fit around that.
Some people are purchasing on a bank imposed limit, that's
they've been to their finance advisor and said how much
(10:43):
can I borrow and they go out shopping to the budget.
Other people have no budget whatsoever. They are on a
self imposed limit, and then you go into the market.
But wrapped around all of that and all of the
emotion that comes into purchasing, particularly home to live in,
is the fact that human beings are herd animals. We
like to do things in the main that other people
are doing, and that's why when you see a market
(11:04):
that's speeding up, when the price is increasing potentially or
volume going up, people are more confident to make a
decision because they see other people making the decision. And
it's also the same when the market slows down. But
people see people slowing down, so over and slows down.
Apart from the people who can take that little bit
of emotion out of the transaction, start thinking logically.
Speaker 2 (11:26):
Do you remember when you do you remember what your
hurdle was or what actually got you into I don't
mean what you heard like it. You might not have
had any hurdles. You might have just sort of though
I've always wanted to buy real estate in your first
property was an easy decision. But do you remember your
journey to buying your first property?
Speaker 3 (11:42):
I do. We built our first property.
Speaker 2 (11:45):
You went, you're not old enough for that. I've had
some talk back about that state EI. There was some
people canal it's much older call. To be honest, I
couldn't remember when they did that. You know what I'm
talking about, When people capitalize their family benefit or something
three percent for the rest of their lives or something. Anyway,
that was a good deal. So sorry, I'm just channeling
(12:07):
a completely different conversation. Do you remember what it was
that led to you building your first home?
Speaker 3 (12:13):
Well, when we were looking for a property to purchase,
we'd moved, actually we'd moved moved locations and we didn't
find when we wanted to buy, and we found a
section we could build on, and the dollars and sents
made sense. And to be able to own a property
at what time of life was it for you are
going to say thirty.
Speaker 2 (12:32):
Ish okay, and you had family or where were you
at in the sort of Christopher, Because for us, the
decision to make made to buy was because we were
having we'd had, we're about to have our first child,
and to me that was okay, got to get real
and better make an offer to the Landlord's just how
(12:52):
we did ours.
Speaker 3 (12:54):
I mean, it's from your discussion just now. It's clearly
a long long time ago for me. But the reality
is I think that deep down in home that you
know you're not waiting for a land or to put
the rent up or maybe sell the property and have
to move out, so owing we live. I think it's
always been important.
Speaker 2 (13:10):
To us and why build for you, because that's it's
not like you know, here we go, we want to
buy a house, and there it is.
Speaker 3 (13:16):
That's it made sense. And the real estate agent we
were dealing with at the time introduced us to how
about this for an option. Here's a section you could
do this, and here's the timeframe in it. We thought, heck,
and away we went.
Speaker 2 (13:28):
So it sounds like it was an easy decision. I'm
not good on you. I wonder if there's some people
listening to be like, oh god, I wish it was
felt that easy for me. So was it stressful?
Speaker 3 (13:38):
No, just yet, No, it was. It was there's no
question about that. When you're building, when you're building on
a budget, it's really there are things that go right
and things that go wrong. But it's interesting the moves
that people will make to get into their own home.
I mean, we lived with concrete floors for quite some time,
(14:00):
and calico hung over the windows, and we didn't build
a garage on the proper. I'm guessing now Leanne will
be listening. I think she can probably remember better than me.
But landscaping and gardens that came later, So we were
prepared to do that.
Speaker 2 (14:13):
So you did, you did, I don't mean the bear bones,
but you did what you needed to get a house
and a roof over your head, and the concrete floors
you thought, well, we'll sort that out later. Really. Yeah,
so that is because that means you're not I mean,
what were you have an initially eventually done carpet or
something I guess over time. Yeah, so you basically stretched
(14:34):
yourself just to get into that house, get it built,
and then carry on from there.
Speaker 3 (14:38):
Yeah. Well, my wife is a very very smart individual.
She picked well, but she worked really really hard, as
did I to get ourselves in the position that we
could actually get into a home. And then we did
what it took to get into that home.
Speaker 2 (14:52):
When did you consider that? Sorry, I mean, it's just
interesting to hear people's stories on this, but we love
your cause on this, by the way, eight hundred and
eighty ten eighty. We'll look and we started talking about
the uncertainty politically around what governments are going to do
with when it comes to property capital gains. Does that
make a difference to your decisions on property? But the
second question that's come out of and chat with Brian
(15:13):
is overcoming that hurdle to get into your first property.
How long did it take you before you considered your
property was finished? You know, it's one thing to get
the roof and move in, it's another thing to get
it carpeted and curtained and all those things. Or is
the answer to that question that you never finished?
Speaker 3 (15:34):
I think that is the answer. I don't think anyone's
You can always find something that would be better if
you're handy and you can do things yourself. A lot
of people are always working on their properties. I'm not.
I'm absolutely hopeless in that regard doing stuff myself. But
I think as you move through different stages, aren't you
the home that was suitable for you five years ago
(15:54):
might not be suitable anymore. So you might purchase a game,
and you might purchase one that's one hundred percent spick
and span and perfectly as you like it, But dollars
to doughnuts, you're probably going to move it and all
of a sudden you need to change something. So it's
an ongoing process. It's an ongoing process. But I'll tell
you going back to your original question about the political
noise and trying to do you make a decision or
(16:17):
do you wait and see? It's a little bit like
a lot of things when you're looking at making a transaction.
Do you wait and save a bit more so that
you don't borrow as much? And do you risk the
market getting away for you? Do you borrow the money
now or do you wait? There's lots of random things
that get in your race.
Speaker 2 (16:33):
Did you notice anything with the last week or two,
you know, with chatter and stuff around. I mean, I'm
trying to avoid talking about it again, the actual CGT
and all that, which I don't get as excited about
as some people. But to me, I wouldn't have thought
that a CGT would make any difference to people wanting
to get into property because if you're going to make money,
you're going to make money. It's like me turning out
(16:54):
to work. I'm going to get text on it, but
it's still turn up.
Speaker 3 (16:56):
Yes, it's really hard for me to answer that because
some listeners will say it's women real estate agent. Of
course he doesn't want it might slow the mark it
down and that's not the case. My concern with that
particular announcement and is the lack of detail around it.
So there's been this well that's really.
Speaker 2 (17:16):
Why I came, we decide we want to talk about it,
because it wasn't like it was fleshed out. It's just
this uncertainty, what the hell is it going to look like?
Speaker 3 (17:23):
So if you if you go to Australia at the moment,
and the market in several states in Australia is absolutely
on fire. Now they have a capital gains tax and
stamp duty and all sorts of other things. So that's
why I say I think that I think that people
getting involved in a market to try and manipulate it. It
never works in my experience out there.
Speaker 2 (17:45):
Okay, look, we love your cause on this eight hundred
and eighty ten eighty. Does the does the political machinations
we're going to election next year, uncertainty around what party
is going to have, what rules? Does that affect the
way you view the real estate market or not? Do
you just think, well, you know, politicians will do what
they do and I'll just sold youer on, give us
a call. Eight hundred eighty ten eighty. But the secondary
(18:07):
question is everyone at some stage has to overcome whatever
psychological or financial hurdles to get their first home. How
did you deal about making those decisions for you? Because
it is a big deal, and as you've heard from Brian,
you know they got and they built, but it's not
something that you've necessarily ever finished. Eight hundred eighty ten eighty.
It's twenty five past four news talks there'd be This
(18:28):
is one with Raddy Esham. My guest is Brian Thompson.
He is managing director at Harcourt's New Zealand and we're
talking about the political uncertainty. Does it affect the market
in terms of your decisions about what you want to do?
And I think as we would agree Brian, is that
(18:49):
if you're looking for somewhere to live, you're looking for
someone to live in. What the government does is neither
here nor there. But I've got a text here from
someone on the on the investment side of things. Hi, Tim,
your guest, Brian is very optimistic in all and caps
when talking about landlords and government policies. We are mom
and dad investors with three properties and we are very
(19:11):
concerned about the Left block getting in. We're not highly leveraged,
but even with Labour's non tax deductibility at seventy five percent,
we had a bill for tax of fifteen thousand dollars
instead of a rebate. It may not be a lot
for some for your guest, but if Labor gets back
in again and implement this plus a CGT, we'll have
to sell as we couldn't afford to keep our properties
(19:31):
after twenty years of hard work and heading towards the retirement.
This would be gutting for us. Chairs Rob, what do
you reckon, Brian?
Speaker 3 (19:39):
Hey? Rob, and fifteen thousand dollars is a big chunk
of money for anyone. I can assure you of that.
The fact is it is a concern when you think
about it and think if a government got in and
all of a sudden started significantly penalizing property investors. But
my view is that if you said, the heck that's
(20:01):
going to happen, I'm going to sell my properties now,
and the opposite happens, then all of a sudden, you've
put aside what is a really strong investment portfolio you've
put together over a number of years. So it'd be
the first thing I'd say. So you're almost tossing a
coin thinking about who's going to win the election and
then what they are going to do.
Speaker 2 (20:20):
And though it looks like they're saying that if a
change of government comes in, they would then sell, but
I guess you need to anticipate that.
Speaker 3 (20:28):
Oh good, I So it's really hard. It's old toss
a coin, what's going to happen? And you could say that,
I mean, if you throw a coin up and call
heads or tails, some statitistics will tell me I don't
know what I'm talking about, but you've got a fifty
percent chance of either one coming up from what I believe.
So you've got to look at it and say, what
is the best decision we can make. You've got a
really good, strong portfolio you had for a number of years.
(20:50):
If you sell it, what are you going to do
with the money that will provide you the same the
same return and the same solicity you've got at the moment.
And I just go back to saying what I did before.
I think that the people and government are really well
aware of the important of the private landlord to the
rental sector, and I don't believe they're going to do
anything absolutely drastic that will put that at risk.
Speaker 2 (21:12):
You actually, you did say the people in government are
very aware of it.
Speaker 3 (21:17):
I believe they are very aware of it.
Speaker 2 (21:19):
What about the people who want to be in gomor?
I was thinking, because I know you didn't say the
people in parliament. You see the people in government.
Speaker 3 (21:29):
That that may be. That may be. That's a slip
by me, that's a slip by belmatory. I'm trying really
hard not to be inflammatory. Yet you've told you the
wrong place. I think when you look at it, there's
so much chatter around in the political sector because the
people who aren't elected want to get elected, so they've
got to try and put something forward that's opposite to
(21:51):
what the people in power are. So there's always a
lot of chatter going in, but the reality is, if
you come to push the button on a policy that
is going to negatively impact something really really important to society,
you're probably not going to have the power for very long.
Speaker 2 (22:04):
Just before we go to our callers, look and we
don't need to get all tighter knots about a CGT,
but just feel like eventually, the longer time goes, we'll
probably have something. Even though we do have one on
the form of the bright line over a time dependent one.
I just wonder do we do you think how important
is it that the political parties actually end up on
(22:24):
a similar page so people don't have to worry about
whether a labor government's in, or whether a labor Greens
or Labor Mari, or whether national and act. I mean,
because the tax situation and labor that'll move around a
bit with a labor government, but the CGT is on there,
that's not going to change. Stamp duties in might tink
around the ngines with that. Do we need to have
(22:47):
some cohesiveness between the parties or will that just happen
with time.
Speaker 3 (22:52):
Well, a couple of things. With the political system we've
got being m MP, everything's a compromise anyway, so that
takes some of the humps and the bumps out of policy.
But I think a situation where some key things that
the that the is central government are in charge of,
it would be nice to have some consistency, because I
don't think any society wants great, big, polar opposite swings
(23:13):
every time there's a change in government. I don't think
that's good for anyone. But equally, I think having a
whole lot of people with the same point of view
in the room all the time is very, very dangerous
because you only know what you know, so you don't
you don't want a whole lot of people, no matter
what badge, they were all thinking the same. I think
that would be very dangerous.
Speaker 2 (23:30):
Okay, right, let's take some callse eight hundred eighty ten
eighty Phil.
Speaker 5 (23:34):
Hello, good eight?
Speaker 2 (23:36):
How are you good? Thanks?
Speaker 3 (23:38):
I Phil?
Speaker 6 (23:39):
Good eight?
Speaker 2 (23:40):
Mate?
Speaker 3 (23:40):
How are you very good? Thank you?
Speaker 6 (23:43):
Excellentescellent. Yeah, I'm not an investment for us in an
investment of property by I haven't bought any investments, but
I did buy my own home. And when I bought
my own home, I didn't worry about which governments were in,
or what government was going to be in, or what
government was possibly going to do, or future government. That
I basically bought my own home because I just got
(24:07):
tired of flatting. You know, I flatted for about five years,
and I just got tired of being at the whim
of a landlord and you're moving in and out the
flats yourself, and then this flat MAT's coming in and
out and that uncertainty, and it's quite.
Speaker 2 (24:18):
A good motivation, actually, Phil, isn't it just sick of flatning?
Speaker 5 (24:22):
Yes?
Speaker 6 (24:23):
Yeah, it was. It was. It was. And at the time,
I had a good job. I had a good solid job,
and I had the money, and I thought, well, I
wasn't exactly sure if I had the money, but I
bought in a time where you know, you could borrow
ninety percent of back in the day, and you only
had to have about ten thousand dollars depositive sort of thing,
(24:44):
you know, on your property in that and yeah, so
I decided, right, I'm going to go for it. And
when I bought my plate only a small place just
in christ Church and Russeley or or aven here if
I want to get a bit more money for it.
But I'm in one of those neighborhoods where I'm on
(25:07):
the side of the boy. Yeah, on this side you
don't get so much word. If you go on this side,
it goes up a bit more. But it's just a
small bedroom, but probably one of the oldest places in
the streets. So it only cost me just over a
couple hundred thousand dollars. And that was twenty years ago
and a bit.
Speaker 2 (25:25):
And as twenty years ago, phill two hundred thousand dollars
would have got you quite a nice place.
Speaker 3 (25:30):
I would have thought, Yeah.
Speaker 6 (25:32):
Well I got a wee deck on the on the
outside in the backyard, and and yeah it's not a
bad replace, not bad. But it was bought and it
was built in the nineteen fifties. He's two bedroom wooden place.
But it came with how did.
Speaker 2 (25:45):
You find it? Did you wander into any particular agent,
or did you look in the in the in the
paper or what did you do?
Speaker 3 (25:52):
Well?
Speaker 6 (25:52):
I was I was quite fortunate. I just where I
was working. I was working at in New Zealand, at
the time as a baggage handed loader. And that's why
I say, quite a good job with a good company.
And I just started asking around the boys that I
was working with, you know, they just for advice, you know,
because I'd never bought a home before. It's your first home.
(26:12):
So I just started talking to the fellows I was
working with them, the boys, and saying, do you know
anybody or wasn't there?
Speaker 3 (26:17):
And that's normally how it happens. I have to say.
I have to say, for a lot of people find
their agent at home like that. And the other thing
I'll say is, you don't want to be you don't
want to be calling you your home a little wee
tiny thing and not that flash. Because a human beings
home is their castle. And the people who live in
the smallest, cheapest properties in the world that they own
(26:38):
are just as happy and proud as the people who
in fact, quite often more happy and proud than the
people who live on the ones overlooking the beach that
cost you millions and millions and millions of dollars. So
you you enjoy your probably you're in a great part
of the world. And christ Church at the moment, as
everyone knows. They tell me that most of Auckland are
moving there at the moment. The market's strong. It's a
city on the rise.
Speaker 2 (26:59):
Actually, by the way, twenty years ago, a couple hundred
thousand dollars I think a lot of money that was.
That was a generous bend in christ Church back very
much so. I imagine you've got quite a nice little
spot there, fell even though I don't know about the
Avenhead Rustley thing. That's out of my pay grade to hardcourts.
You guys are very strong and Chriss I know all
about that.
Speaker 3 (27:15):
Are both great suburbs. There's a lot of great people
live there. If you're looking for your house and have
you'd hit a rusty or I know some people.
Speaker 2 (27:21):
Actually you know that. I'm glad you made that point
about the home of the castle and all that sort
of thing, because you know, you don't have to be
living and you know, we've got some beautiful properties around
where I live. But the satisfaction I get from mowing
our little patch of grass, even though that we can
do with a bit of improvement. But the little things
you do around the place to tidy up and you go,
God's satisfying and.
Speaker 3 (27:41):
Phool's comment about he was sick of flatting. It takes
a while to get to that stage because from my
memory and it's a long time ago, as you've said
to flatting flatting, flatting was actually quite good. Fund.
Speaker 2 (27:52):
I was just kidding about the long time ago. But
you're not going to let me forget that. Tell you what, Craig,
Sam and Pete hang around, will be back in just
the tickets. Twenty three minutes to five News Talk said
be We're with Brian Thompson. He's managing director at Harcourt's
Teaking calls one hundred eighty Tennaty Craig, Hello.
Speaker 7 (28:08):
Yeah, hi guys. Look, I would love to have the
positivity that our tamed realistic agent is feeding us thing.
But yeah, thank you Brian, and I do appreciate listening
to you.
Speaker 3 (28:20):
Man.
Speaker 7 (28:21):
That's good to hear.
Speaker 2 (28:22):
Everybody's there's a big heary back coming, isn't there, Craig.
Speaker 7 (28:25):
It is definitely a big herey.
Speaker 5 (28:26):
But so.
Speaker 7 (28:29):
We have a rental we have our own home and
a rental property. The rental property, You've got to remember
there's things like the fact that you can't actually claim
any tax back or anything else for you can claim
for maintenance, but if you want to improve it. So
if you've got a kitchen that's twenty five years old
and you want to bring new kitchen and to look
after your tens capital, that is an improvement that is
(28:51):
not a It doesn't fall under maintenance, so that just
costs you.
Speaker 2 (28:56):
Yeah, that's it.
Speaker 7 (28:59):
So from twenty twenty that property has not going to
out go enough in price. It's pretty much stagnant. I mean,
we had to do all things you had to do
to bring it up to standard for labor, so which
I don't have a big issue with. Like you know,
it's I think it's quite good to have the Healthy
(29:19):
Homes initiative, but you're not making money out of it,
like a twelve thousand dollars tax bill each year, so
which comes down to your own pocket. And then you've
got property that hasn't even gone up in price.
Speaker 2 (29:32):
So are you just expressing your pessimism about where we're
at or is it something that Brian said that you are.
Speaker 7 (29:37):
No, no, no, just just and it's more about sort
of I'm not having having a dig at Brian here
because this is this is just reality. But the polic
don't think it's politics, and that's where it gets really
really confusing and kind of difficult for small landlords to you.
(29:59):
As I said, we're going to got one.
Speaker 3 (30:00):
Yeah, there's no question, Craig, You've got You've got to
know what you're doing. You've got to have the right
support in regard to when you invest in the property
when you don't. Because I won't apologize for being positive.
I hope I'm not Pollyanna and unrealistic, but my outlook
would be, you can't claim your capital improvement, but it
(30:20):
will add to the value of your property. And I
know you're not selling it, so you could say that's
money that you've buried in for no more return. But
I do see it having a positive upside. The thing
that I would say, and I keep going back to
because I can understand the first couple of homes that
we owned when we brought them to when we sold them,
the only difference in our equity was what we had
(30:41):
paid off our mortgage, and we had spent money on
them and done all sorts of things. So you go
through periods where you could say we haven't made any money.
You'll go through other periods of time when you look
at it and say we haven't made any money cash
flow wise, but the properties you've gone up five or
ten or fifteen or twenty percent. So I think the
key thing for me is is that when you're in
an investment, when you're in an investment position, and I
(31:05):
don't know anything about shares at all, so I'm not
going to advise you on those. But with property is
a great saying that and this too shall pass. So
if your timeline's correct, then it will come come out
on the right side. And I say that with total
confidence because they say the best predictor of future behavior
is past behavior in the same context, and that's what's
always happened in the past now, and my view is
(31:26):
that's what's going to happen in the future.
Speaker 7 (31:28):
Okay, So that's five years we've heard the property. We've
done improvements, quite significant ones the resale value. Where now
because we are actually looking at something the property because
we're kind of a bit over yes where every government's
swapping and changing their politics. So at this point the
capital improvements we've made on the property have not actually
(31:51):
been realized when it comes to rest. And then we're
in a position where we're possibly looking at another labor government
coming in, so we're going to get slammed again. So
it's well, yeah.
Speaker 2 (32:04):
I mean actually have to move on Craig. But I
think Craig's saying, yeah, the politics matters for.
Speaker 3 (32:08):
Him, yes, and that's everyone's entitled to of you, not
saying it's right or wrong.
Speaker 2 (32:13):
By the way, in terms of the totality, report does
saying that the market has been you know, sort of
slarting on the way, but it does look like it's
sort of leveling out of it now, doesn't it. Just
on a quick market.
Speaker 3 (32:22):
Talk about anecdote, a talk about statistics wise, you can
certainly see around New Zealand that the market is trying
really hard to get better. The volume of sales is increasing,
and so it should. We're going into peak selling season.
It's November December, so you know, right through the in
the March peak selling season. But it is certainly running
ahead of where it was last year in our experience
at the moment, there are more inquiries coming in, there
(32:44):
are more people through open homes and transactions taking place.
We're not seeing values exploding upwards and that sort of behavior,
but the market is certainly on the improved right.
Speaker 2 (32:53):
Sam today. Sorry, Sam, I'll just come back to you
in a second.
Speaker 5 (32:59):
Pete Hello, Yes, yeah.
Speaker 4 (33:03):
My way looking at it is that New Zealand has
been too much of a gravy train for so long
for investors making money. And I think as soon as
they take that interest off again for property investors, the better,
because right now we know New Zealand has the highest
property around the world pretty much.
Speaker 2 (33:26):
But the problem is the problem is peide. If you
take that interest deductibility away, you make it more expensive
for someone to hold a property. They're just going to
We saw a huge lift in rents because of that policy.
So aren't you worried about the effect it has on renters?
Speaker 4 (33:41):
No, not really, because I think that this has been
going off for years. We all know this is like
you're not naming any names. Where have they made their
money pretty basic from residential properties. So it's not good
for people to have overinflated houses. You're better off having
(34:03):
moderate house prices. Then you're young, your kids, your grandkids
can afford properties right now they cannot, so you can soon.
As soon as we can slow this market down, the better,
the better. Because the banks too, they are.
Speaker 2 (34:16):
Like yeah, okay, and I pass it on to Brann
it's a shorter time there. But I think anyway where
you go Brown.
Speaker 3 (34:23):
The only thing I will say is I said it
before when you made a comment should should the different
parties have an agreement on what's going to happen in
New Zelling in the future. And my comment to you
was quite strongly that we don't want every run in
the room thinking the same. We need to have a
difference of opinion so we can have a debate at
an intellectual level about what the best way forward is.
So I don't mind people having a different view of mine.
I don't agree with our last caller at all. I
(34:45):
think that that would be a retrograde step for that
for the whole of the housing market, and particularly for
the for the people who either choose to rent or
have to rent.
Speaker 2 (34:54):
I think that's the thing people are confusing a capital
gains tax, which is taxing a profit ultimately when you
sell it, and that's one thing, But to make it
more expensive for landlords to own a proper via no
text deductibility, all they're going to do is pass it
on to tenants and that has an I put effect
on rents, and I just think it's bloody madness. Am
I out of an.
Speaker 3 (35:14):
Order with that one, Brian, I would probably say that
here on your side of the equation.
Speaker 2 (35:21):
So diplomatic anyway, Okay, right, let's go to Sam Gooday.
Speaker 5 (35:27):
Yeah, you get none. I'm a property investor own I
own them sixteen properties.
Speaker 2 (35:35):
Yep.
Speaker 5 (35:37):
If they were to bring in the interest deductibility again,
I've grown quite a lot in the last sort of
two years with this current government not being able to
deduct the deduct the interest that there will send well
a lot of well it we'll send a lot of
people broke. They will also force a lot of people
(35:58):
to sell as well. But it'll also forced rents to
go up. I know me personally, I'd put rents up
and they go up. Probably they've probably got up another
twenty or thirty percent if they were to bring that
rule back in. And what they forget to realize is
that a lot of people, especially landlords, a lot of
them hels vulnerable people and also housing New zeal intendants
(36:22):
in the private sector. Do hows a lot of housing
New zeal intendants?
Speaker 2 (36:25):
To me?
Speaker 5 (36:25):
For what I actually held a certain amount of vulnerable
people too.
Speaker 2 (36:28):
So five percent of the people of tenants private through
private landlords on.
Speaker 5 (36:34):
Yeah, and I'm not I'm not against the capital gains tax,
so to speak, as long as you're allowed to they
apply the same rules that happened in either America or Australia.
But it just seems to be in this country you've
got a parasific government on the left and you've made
up with But this is the truth.
Speaker 2 (36:53):
I'm I'm just say things that. Yeah, I mean, you've
got but the truth is.
Speaker 5 (36:58):
The truth is you've got Chloe Shawbook who doesn't know
ship from Clay.
Speaker 3 (37:01):
Okay, You've got.
Speaker 2 (37:04):
Our language a little cleaner, Sam, Yeah.
Speaker 5 (37:08):
You've got Chris Hiptons who's never had a real job
in his life. And you've got the Mary's Party and
let's be honestly, just a bunch of recards.
Speaker 2 (37:17):
Okay, I think, thanks Sam, thanks for your feedback. Yeah, trying.
I mean, you know, we don't want to be prudish
about language and things, but it is at five o'clock
in the afternoon with people listening with kids in the
car and stuff, so we do like to call our
jets a little bit on that. But for the time being,
we're going to take a quick break and it is
ten minutes to five news talks at.
Speaker 1 (37:36):
B the one roof property of the week on the
weekend collective.
Speaker 2 (37:43):
Yes, and it's timing. Yes, as the sting says for
the property of the week, it's look, it's probably not
first time buys this one. It's The address is five
sixty eight A Whitford Road. It's in Whitford, Monaco City.
Five bedrooms, three bathrooms. The house is what's a big one?
Four hundred and forty eight square meters. I think that's
reasonably big, isn't it?
Speaker 5 (38:02):
Brian?
Speaker 2 (38:02):
Would you describe that as pretty big?
Speaker 3 (38:03):
Yeah, that's a solid resident, there's no question.
Speaker 2 (38:06):
So it's discreetly nestled within a private gated community. That's
a single level residence offering an unparalleled blend of sophistication
space and resort style living. And it's architecturally designed by
the renowned Peter Dippros. Actually, i'll get your take on it. Well,
how would you describe what's your vibe on the property? Brand?
Speaker 3 (38:25):
This is your It's like a resort, isn't it would
be a wonderful family compound. You've got so much opportunity
to host people there. There's all sorts of recreational opportunities
and still more development could be done. It's a beautiful
part of the country. There's no question. It's lovely, lovely,
elite level home.
Speaker 2 (38:43):
Actually, as I'm looking at it, it does have us.
Am I wrong in saying this. It sort of has
a balley sort of vibe, doesn't it as if you're
it's something to do with the exterior and the veranda
area and the entertainment area does seem slightly sort of
Indonesian Ballei influence.
Speaker 3 (38:59):
It has got that feel about it when you see
it online, there's no question.
Speaker 2 (39:02):
At all, although it's nestled within nothing but quintessentially New
Zealand countryside, beautiful. Pull out the front anyway, go and
check it out. It is the address again? Where was that?
I just need to click up with that screen there.
It's five hundred and sixty eight five six eight A
Whitford Road in Whitford, Manico City estimate. Look the RV's
(39:22):
five million, but you know what, you might get it
for four and a half. So anyway, So what's keeping
out of mischief at Harcourt's at the moment?
Speaker 3 (39:29):
There Brian A busy time of the year, time there's
no question that as we move towards Christmas. We talked
about deadlines before with people when they make calls. People
like to be settled before Christmas, so that they brought
the home they can shift in and already before the
children go back to school, before the working year starts.
So it's one of those times, you know what, it's like,
everyone wants something done before Christmas. So the market's warming up.
Speaker 2 (39:50):
Excellent, We've got about a minute left. I just want
to ask quickly, at this time of year, how many
people actually decide that it's time to upsticks and move
somewhere else or is this more about people getting into
first homes and that's what drives it and investors and things.
Speaker 3 (40:03):
I think over Christmas, the Chris SMAs break or the
festive season, should I say the holiday break, people go
and spend time at places they love, whether it be
by the beach or the lake or in the country,
and it's often a time and people would think, could
we live here full time? And that's a discussion. I'm
sure that's taking place around a lot of a lot
of dining tables over the next couple of months.
Speaker 2 (40:22):
Right, Oh well, good, Hey, thanks so much. For coming
in and sharing your views. There, Brian, we managed to
keep you relatively out of the political political malay. Maybe
no thanks to Sam at the end, but there we go.
Speaker 3 (40:34):
Always interesting, Tim, thanks with invite.
Speaker 2 (40:36):
Good stuff anyway, if you like to catch any of
our discussions and I forget we had a fun panel
also with the Richard Lindrew's and Mark Kreisel. You can
go to our iHeartRadio and look for the Weekend Collective
and we get everything loaded pretty quickly after each hour's concluded,
so do go and check it out there if you've
missed any of this hour as well, and we'll be
back for the Parents Squad. Sarah Chatwin's with us. It's
(40:58):
exam time. How do you help your kids deal with
freaking out before their exams hit? So we'll be having
a chat about that with Sarah among other things on
the Parents Squad. This is News Talk seed B. You
know the number backsone.
Speaker 1 (41:11):
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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