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Speaker 1: A little bit of rubber hitting the road. Research on

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Speaker 1: unsold real estate for you. This morning, a real estate

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Speaker 1: consultancy company look at the amount of unsold stock when

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Speaker 1: it came to apartments in Auckland. There are a record

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Speaker 1: number five hundred and forty one, to be precise, which

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Speaker 1: is twenty percent of everything that has been built in

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Speaker 1: the past three years. Now. I love apartments. I live

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Speaker 1: in one, I own them. I've owned them over the years.

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Speaker 1: They are not everyone's cup of tea, of course, but

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Speaker 1: what I've loarned over the years. Like most things in life,

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Speaker 1: there is always nuance to the story. I bet you

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Speaker 1: anything you want that the ones that aren't sold aren't

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Speaker 1: for very good reason. They're crap. An apartment is no

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Speaker 1: different to a house. A good one will always sell

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Speaker 1: good market or bad. A bad one won't. The trouble

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Speaker 1: with research and stats, as they deal with averages, they

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Speaker 1: round things out. The apartment market, sadly has been driven

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Speaker 1: in some respects by ideology. The apartment you would be

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Speaker 1: part of is part of the new groovy Auckland. Where

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Speaker 1: you stepped out of your trendy town pad onto your

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Speaker 1: public transport before taking your lime scooter. The final mile

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Speaker 1: to the office. Now, apart from the fact there is

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Speaker 1: no public transport in a way that any first world

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Speaker 1: city would expect, and because the cost of building went

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Speaker 1: through the roof, your apartment, which of course was supposed

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Speaker 1: to be affordable, isn't well unless you want to live

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Speaker 1: in eighty square meters, which very few do. You will

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Speaker 1: not have a car because cars are bad, except you

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Speaker 1: like your car, but you've got nowhere to put it.

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Speaker 1: And that's before we get to the quality of the build. Unbelievably,

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Speaker 1: we are still dealing with leaky building, almost as though

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Speaker 1: we are determined not to learn a lesson. Mix In

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Speaker 1: the Mad Rush, we saw for consent build a lot

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Speaker 1: of stuff, no, and once in three years down the

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Speaker 1: track all the good stock got snapped up and what's

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Speaker 1: left is five hundred and forty one boxers that might,

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Speaker 1: if you're lucky, make a passable rental. The lesson is

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Speaker 1: to do things properly. Give people what they want, not

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Speaker 1: what you want them to have. Location, size, quality, Get

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Speaker 1: that right and it's hard to go wrong. For more

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Speaker 1: from the Mic Asking Breakfast, listen live to news talks

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Speaker 1: that'd be from six am weekdays, or follow the podcast

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Speaker 1: on iHeartRadio,