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Speaker 1: Got the numbers for you this morning. QV House Price Index.

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Speaker 1: This is for the September quarter going backwards and Auckland

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Speaker 1: leading the fall. Homes are worth an average of one

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Speaker 1: point one percent less Auckland's two and a half percent less.

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Speaker 1: This is over the quarter. And how does that make

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Speaker 1: you feel? Really? Most homeowners, of course, won't care because

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Speaker 1: they're not trying to sell their houses right now. But

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Speaker 1: for those who aren't depressing, first home buyers love it.

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Speaker 1: They're cranking at the moment. They're a quarter of new

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Speaker 1: mortgages first home buyers first half of this year a quarter.

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Speaker 1: So we've got to ask ourselves, is this really what

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Speaker 1: we want? When the numbers are bad for owners and

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Speaker 1: for homeowners, they're good for would be owners. We're forever

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Speaker 1: complaining about the press of property until we need to

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Speaker 1: sell it. So if this is the new normal, then

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Speaker 1: we better get used to it. It's interesting to look

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Speaker 1: at what is selling as well, because we had another

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Speaker 1: developer this is an Auckland apartments go bust yesterday and

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Speaker 1: have a look at the apartments, even the nice ones

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Speaker 1: that they were building. Is that really somewhere you would

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Speaker 1: want to live? Guess what's not selling? It's the new

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Speaker 1: builds without car parks. This idea that somebody will want

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Speaker 1: to buy a shoe box and catch a bus is

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Speaker 1: clearly not working out in the way that they intended.

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Speaker 1: That are taking the longest time to sell. Turns out

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Speaker 1: people also like privacy, who would have thought quite an

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Speaker 1: important factor. The biggest story here is that prices are

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Speaker 1: lower and deep down. Even though we say we want

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Speaker 1: to fix the housing crisis, most people aren't happy about it.

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Speaker 1: For more from Early Edition with Ryan Bridge, listen live

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Speaker 1: to News Talk Set B from five am weekdays, or

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