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Speaker 1: At stock houses. It's a Queenstown. Their economic boom continues.

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Speaker 1: New data shows a six hundred percent surge and overseas

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Speaker 1: inquiries for luxury Queenstown properties. The active investor plus visa

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Speaker 1: is proving to be the golden ticket, with interests coming

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Speaker 1: from the likes of Poland and the Ukraine. Is buyers

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Speaker 1: seek refuge from conflict. So Cam well Winter is the

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Speaker 1: founder and managing director of Oliver Road Luxury real Estate

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Speaker 1: and is with us this morning. A luxurious good morning

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Speaker 1: to you.

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Speaker 2: Cam. Good morning Andrew.

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Speaker 1: What does a six hundred percent increase actually look like

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Speaker 1: in terms of numbers?

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Speaker 2: A good question. We're not talking about a huge sample size.

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Speaker 2: So I think we've gone from twelve to fifteen inquiries

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Speaker 2: from some of the jurisdictions that we don't previously hear from, right,

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Speaker 2: you know, up to the sort of fifteen sixties.

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Speaker 1: And those jurisdictions what Ukraine, Poland and the Soviet Bloc.

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Speaker 2: Yeah, look, I must have that the Soviet block ones

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Speaker 2: are still the least represented in the in the data,

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Speaker 2: but you know, with the likes of America, in the UK,

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Speaker 2: China and other places still accounting for the vast majority.

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Speaker 2: But previously we haven't had Frank I've never had an

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Speaker 2: acquiry from Poland, but large increases from Germany, from Switzerland,

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Speaker 2: none from France.

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Speaker 1: So what are they looking for mansions or are they

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Speaker 1: looking for normal houses that normal New Zealanders would like

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Speaker 1: to buy.

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Speaker 2: Well, it's a bit of a mix, because with the

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Speaker 2: AIP stuff, you've got sort of two tranches of those people.

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Speaker 2: Of course, the first of which we're able to come

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Speaker 2: through from first of April last year, and those are

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Speaker 2: people who are actually moving to the country, and so

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Speaker 2: they are the same mix of people as we've previously

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Speaker 2: had moving to the country. The particularly well the ones

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Speaker 2: I mean privacy, security and longevity and quality.

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Speaker 1: And from what do you from what you've said to them,

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Speaker 1: what they've said to you, do they want to contribute

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Speaker 1: to the economy beyond just buying a house?

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Speaker 2: Yeah? Interesting. They sort of fall into two camps, and

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Speaker 2: the first is certainly the majority, which are a lot

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Speaker 2: of these are very genuine people. A lot of them

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Speaker 2: have you know, formed connections with people all over the

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Speaker 2: world and and have in fact spent plenty of time

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Speaker 2: here as well. Be that and coincid itself or New Zealand.

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Speaker 2: So I think as much as as locals wouldn't want

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Speaker 2: them to do the opposite. These people don't want to

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Speaker 2: sort of, you know, buy a home here and and

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Speaker 2: spend such little time here that they sort of feel

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Speaker 2: like aliens.

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Speaker 1: Well, this is right, This is what everyone is worried

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Speaker 1: about ghost houses. They buy a house here, but they

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Speaker 1: never live them.

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Speaker 2: About sixty percent of the properties that they're buying aren't

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Speaker 2: lived in anyway, regardless of who they are, who they

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Speaker 2: are owned by. But perhaps more importantly, I mean those

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Speaker 2: sixty percent are currently owned mostly by New Zealander's Australians,

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Speaker 2: and a small percentage of those based overseas. So he.

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Speaker 1: Cam, here's the thing, though, what does Queen Sound look

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Speaker 1: like in ten years? Will it just be a global

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Speaker 1: playground for the rich?

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Speaker 2: No? I mean the rich. The rich account for a

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Speaker 2: very small percentage of the actual population here, and the

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Speaker 2: homes that are being established and bought by the rich

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Speaker 2: are account for a very small percentage as well. I mean,

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Speaker 2: we're talking about several hundred properties in the scheme of

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Speaker 2: twelve fourteen thousand properties. That all of that money coming

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Speaker 2: in assists to the unfortunate reality, which is that our

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Speaker 2: economy is entirely reliant on growth.

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Speaker 1: Good only you came went a good day for business.

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Speaker 1: Obviously came as the founder and managing director of Oliver

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Speaker 1: Road Luxury real Estate, who are seeing an increase in

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Speaker 1: business from Poland but not France.

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