1 00:00:00,240 --> 00:00:02,600 Speaker 1: They're claiming the first of its kind report into the 2 00:00:02,640 --> 00:00:05,200 Speaker 1: economic role that property investors plan this country. So private 3 00:00:05,240 --> 00:00:08,520 Speaker 1: investors generated twenty four point eight billion in GDP, which 4 00:00:08,520 --> 00:00:10,800 Speaker 1: is five point nine percent of the whole economy. Sector 5 00:00:10,800 --> 00:00:13,040 Speaker 1: supports one hundred and twenty six thousand jobs. That's about 6 00:00:13,039 --> 00:00:15,000 Speaker 1: five percent of the national employment. These are big numbers, 7 00:00:15,000 --> 00:00:17,520 Speaker 1: aren't they. Four point one billion was spent on maintenance 8 00:00:17,520 --> 00:00:20,079 Speaker 1: and improvements. Anyway. Matt Ball is the Property Investors Federation 9 00:00:20,480 --> 00:00:25,960 Speaker 1: advocacy manager, and as with us, Matt morning, Mike. You well, look, 10 00:00:26,239 --> 00:00:29,560 Speaker 1: I'm living the dream. This is up to twenty twenty four. 11 00:00:30,360 --> 00:00:32,640 Speaker 1: Has it changed materially since then? Do you think? Is 12 00:00:32,640 --> 00:00:33,720 Speaker 1: it keeping on keeping on? 13 00:00:35,720 --> 00:00:37,520 Speaker 2: Now? I don't think much has changed. I mean, we'd 14 00:00:37,520 --> 00:00:39,600 Speaker 2: like to do this study again next year and find 15 00:00:39,640 --> 00:00:41,520 Speaker 2: out and follow the ups and down to the market. 16 00:00:41,560 --> 00:00:43,680 Speaker 2: But you know, lendlms are still out there doing the 17 00:00:43,720 --> 00:00:45,279 Speaker 2: work providing homes for kiwis. 18 00:00:45,479 --> 00:00:47,519 Speaker 1: Why hasn't anyone crunched these numbers before? 19 00:00:49,200 --> 00:00:51,159 Speaker 2: I'm not sure my I mean, I guess as the 20 00:00:51,159 --> 00:00:54,400 Speaker 2: peak body for property investors and landlords, where the body 21 00:00:54,440 --> 00:00:57,480 Speaker 2: that should do it? Now? I'm sort of doing this before. 22 00:00:57,800 --> 00:01:00,120 Speaker 2: The reason that we thought of doing this now is 23 00:01:00,120 --> 00:01:03,840 Speaker 2: that there's a narrative out there that landlords are unproductive speculators, 24 00:01:03,880 --> 00:01:05,959 Speaker 2: that we sort of buy and sell houses like monopoly 25 00:01:06,000 --> 00:01:09,080 Speaker 2: and just make money off that and don't do anything else. Now, 26 00:01:09,160 --> 00:01:11,600 Speaker 2: if you go round to a property investor association meeting 27 00:01:11,640 --> 00:01:14,200 Speaker 2: and you see people on the paint splat of overalls 28 00:01:14,200 --> 00:01:16,680 Speaker 2: and covered and plastered us, you know that work happens. 29 00:01:17,080 --> 00:01:19,120 Speaker 2: And we just wanted to quantify that and make it 30 00:01:19,200 --> 00:01:21,839 Speaker 2: real for people to understand the work that goes into 31 00:01:21,959 --> 00:01:23,600 Speaker 2: providing homes for people to live in. 32 00:01:24,640 --> 00:01:27,600 Speaker 1: How specific are the jobs that you talk about there 33 00:01:27,600 --> 00:01:31,280 Speaker 1: for the economic outflow? The property is that you know, 34 00:01:31,560 --> 00:01:34,200 Speaker 1: in other words, the house has certain things attached to it, 35 00:01:34,440 --> 00:01:37,240 Speaker 1: no matter who owns it, you know what I mean, Yeah, 36 00:01:37,280 --> 00:01:37,720 Speaker 1: that's right. 37 00:01:38,640 --> 00:01:42,280 Speaker 2: Look, there is a property sector, there's a rental property sector, 38 00:01:42,400 --> 00:01:44,600 Speaker 2: and we were just looking at the work that goes 39 00:01:44,640 --> 00:01:47,840 Speaker 2: into providing that. I mean, you could theoretically say if 40 00:01:47,840 --> 00:01:50,320 Speaker 2: one hundred percent of the homes will owner occupied, similar 41 00:01:50,360 --> 00:01:52,440 Speaker 2: work would happen. Some things would be different. You don't 42 00:01:52,480 --> 00:01:55,400 Speaker 2: need a property manager for your own home. But this 43 00:01:55,640 --> 00:01:58,720 Speaker 2: just quantifies all of the activity that goes into providing 44 00:01:58,760 --> 00:02:02,280 Speaker 2: rental properties. One's ever done it before, and not having 45 00:02:02,320 --> 00:02:05,960 Speaker 2: these numbers is actually damaging to the sector. It leads 46 00:02:06,000 --> 00:02:10,160 Speaker 2: to bad policy, and bad policy leads to bad outcomes. 47 00:02:10,200 --> 00:02:12,240 Speaker 2: So we're trying to change the game here, put some 48 00:02:12,360 --> 00:02:16,520 Speaker 2: facts into the debate and actually lets content good policy 49 00:02:16,800 --> 00:02:18,720 Speaker 2: for the rental sector and for the howthing market. 50 00:02:18,800 --> 00:02:21,720 Speaker 1: Good stuff, Matt, appreciate your time. Apologies for the quality 51 00:02:21,760 --> 00:02:24,480 Speaker 1: of the line, Matt Ball, who's with the property, by 52 00:02:24,520 --> 00:02:28,120 Speaker 1: the way, very good reading and look it up. It 53 00:02:28,160 --> 00:02:30,600 Speaker 1: was written in one roof the other day. First home 54 00:02:30,639 --> 00:02:33,600 Speaker 1: buyers about twenty seven percent of the market. That's a 55 00:02:33,639 --> 00:02:35,639 Speaker 1: record high for the group. There are three key things 56 00:02:35,639 --> 00:02:37,760 Speaker 1: they were arguing as to what was happening in property 57 00:02:37,760 --> 00:02:40,200 Speaker 1: at the moment. First time buyers a back record share 58 00:02:40,200 --> 00:02:45,240 Speaker 1: at twenty seven percent. Mortgage multiple property owners, they're back 59 00:02:45,280 --> 00:02:48,200 Speaker 1: in a fairly big way. Mortgage interest rate deductions are 60 00:02:48,240 --> 00:02:50,520 Speaker 1: being claimed once again, so that's good government policy, so 61 00:02:50,520 --> 00:02:53,120 Speaker 1: that encourages people to invest. Lower mortgage rates are reducing 62 00:02:53,160 --> 00:02:54,799 Speaker 1: the size of any cash flow top ups of course 63 00:02:54,840 --> 00:02:58,200 Speaker 1: as well. And then what they call movers, which I 64 00:02:58,240 --> 00:03:00,040 Speaker 1: hadn't really thought about. These are people who are just 65 00:03:00,120 --> 00:03:02,600 Speaker 1: buying and selling that they make up in any market. 66 00:03:02,639 --> 00:03:04,440 Speaker 1: They've been down a little bit as a percentage of 67 00:03:04,440 --> 00:03:06,120 Speaker 1: the market in the last couple of years, but they 68 00:03:06,680 --> 00:03:08,960 Speaker 1: are back on the move and that has a flow 69 00:03:09,000 --> 00:03:13,240 Speaker 1: on effect. So insurers new and change policies, retailers new 70 00:03:13,240 --> 00:03:15,160 Speaker 1: big ticket purchases. When you buy a new house, you 71 00:03:15,160 --> 00:03:18,600 Speaker 1: buy a new sofa value. As mortgage advisors, there's more activity, 72 00:03:18,639 --> 00:03:21,200 Speaker 1: of course, so they think that's pretty good. Lending is 73 00:03:21,240 --> 00:03:23,120 Speaker 1: on the rise as well. There's more money out there 74 00:03:23,160 --> 00:03:25,560 Speaker 1: in the market at the moment, and there might be 75 00:03:25,600 --> 00:03:28,480 Speaker 1: ten thousand or more properties changing hands this year than last, 76 00:03:28,560 --> 00:03:30,440 Speaker 1: so it's a bigger pie. So things are moving in 77 00:03:30,480 --> 00:03:33,800 Speaker 1: the property market. So overall looks moderately positive? Shall we 78 00:03:33,840 --> 00:03:35,160 Speaker 1: call it that? Moderately positive? 79 00:03:35,760 --> 00:03:38,680 Speaker 2: For more from the Mic Asking Breakfast, listen live to 80 00:03:38,800 --> 00:03:41,840 Speaker 2: news talks that'd be from six am weekdays, or follow 81 00:03:41,880 --> 00:03:43,480 Speaker 2: the podcast on iHeartRadio.