1
00:00:00,040 --> 00:00:02,480
Speaker 1: Depends on any given day who you listen to and

2
00:00:02,520 --> 00:00:05,760
Speaker 1: who you believe to on housing. See one unionist yesterday

3
00:00:06,120 --> 00:00:08,280
Speaker 1: telling us the middle class can't afford rent, while an

4
00:00:08,320 --> 00:00:10,360
Speaker 1: agent tells us grocery vouches are being offered to get

5
00:00:10,360 --> 00:00:13,560
Speaker 1: renters into houses, no shortage of houses. Rentals in Auckland

6
00:00:13,560 --> 00:00:16,160
Speaker 1: alone are up thirty four percent on last year. Now,

7
00:00:16,160 --> 00:00:20,360
Speaker 1: the Residential Property Managers Association chair as Tony Mitchell, is

8
00:00:20,360 --> 00:00:21,800
Speaker 1: with u's Tony, very good morning to you.

9
00:00:22,520 --> 00:00:23,239
Speaker 2: Good morning Mike.

10
00:00:23,400 --> 00:00:26,600
Speaker 1: Is it a renter's market right at the minute?

11
00:00:26,680 --> 00:00:29,640
Speaker 2: Yes, there are more properties on the market than there

12
00:00:29,720 --> 00:00:30,840
Speaker 2: is for our demand.

13
00:00:31,320 --> 00:00:33,640
Speaker 1: The level of variation depending on which part of the

14
00:00:33,640 --> 00:00:35,519
Speaker 1: market or the country, or the city or the suburb

15
00:00:35,520 --> 00:00:37,000
Speaker 1: you're looking at, is it vast or not?

16
00:00:37,840 --> 00:00:39,720
Speaker 2: Well, Look, I do think you need to take into

17
00:00:39,760 --> 00:00:42,200
Speaker 2: consideration not only the part of the country but also

18
00:00:42,280 --> 00:00:46,040
Speaker 2: departs of the city, because whilst rental prices have come back,

19
00:00:46,560 --> 00:00:50,640
Speaker 2: probably from August twenty twenty four three to now, it

20
00:00:50,720 --> 00:00:53,760
Speaker 2: hasn't come back in some areas within Auckland. If you

21
00:00:53,800 --> 00:00:57,240
Speaker 2: look at some of the suburbs just on the city fringe,

22
00:00:57,280 --> 00:00:59,240
Speaker 2: they are still strong. But if you look at it

23
00:00:59,280 --> 00:01:02,200
Speaker 2: out West. If you look at out South, those prices

24
00:01:02,280 --> 00:01:05,560
Speaker 2: have certainly dropped, but we are seeing that throughout New

25
00:01:05,640 --> 00:01:08,639
Speaker 2: Zealand as well. But we do expect that to only

26
00:01:08,720 --> 00:01:13,199
Speaker 2: be a temporary thing because the underlying factors for demand

27
00:01:13,280 --> 00:01:16,200
Speaker 2: are quite strong. So you've still got strong immigration as

28
00:01:16,200 --> 00:01:16,920
Speaker 2: well coming through.

29
00:01:17,040 --> 00:01:19,680
Speaker 1: Are the rule changes around being a landlord helping or

30
00:01:19,760 --> 00:01:21,199
Speaker 1: hindering broadly.

31
00:01:21,959 --> 00:01:24,840
Speaker 2: Look, I think in general they're a very positive thing

32
00:01:24,920 --> 00:01:30,000
Speaker 2: and it will help making properties available, but the underlying

33
00:01:30,040 --> 00:01:33,520
Speaker 2: factors that have caused the oversupply, it's not due to

34
00:01:33,600 --> 00:01:36,559
Speaker 2: the changes that the government's put in place. It's mostly

35
00:01:36,640 --> 00:01:39,120
Speaker 2: due to the large number of new builds that have

36
00:01:39,200 --> 00:01:42,199
Speaker 2: hit the market. Plus also tends have been a little

37
00:01:42,240 --> 00:01:45,440
Speaker 2: bit more conservative with making changes because in the cost

38
00:01:45,440 --> 00:01:48,440
Speaker 2: of living's gone up and they are being very cautious

39
00:01:49,120 --> 00:01:51,840
Speaker 2: about committeing. We've also seen some layoffs. I know you

40
00:01:51,920 --> 00:01:54,960
Speaker 2: mentioned Wellington. Before you know Wellington, the feedback from rental

41
00:01:55,480 --> 00:01:58,240
Speaker 2: property managers and businesses down there is that the layoffs

42
00:01:58,240 --> 00:02:01,720
Speaker 2: within government has had an impact of well so it

43
00:02:01,720 --> 00:02:04,840
Speaker 2: does vary. As you said, christ Church is still strong,

44
00:02:04,920 --> 00:02:08,480
Speaker 2: but they have had a good supply of rental properties

45
00:02:09,080 --> 00:02:11,800
Speaker 2: since the earthquakes. Since the rebuild, so they haven't had

46
00:02:12,120 --> 00:02:14,519
Speaker 2: the spikes in price inflation.

47
00:02:14,880 --> 00:02:18,480
Speaker 1: Great stuff, Tony, appreciate your insight. Tony Mitchell, a Residential

48
00:02:18,480 --> 00:02:22,120
Speaker 1: Property Managers Association chairperson. We've been doing a little bit

49
00:02:22,120 --> 00:02:23,799
Speaker 1: of work on a rental at the moment and we're

50
00:02:23,800 --> 00:02:26,919
Speaker 1: going to put it on the market again shortly, and

51
00:02:27,320 --> 00:02:30,960
Speaker 1: the person who's in charge of the renovation, who may

52
00:02:31,040 --> 00:02:34,320
Speaker 1: or may not be a member of my family, decided

53
00:02:34,320 --> 00:02:37,119
Speaker 1: not to put the new doorknobs on. She's not saving money.

54
00:02:37,160 --> 00:02:41,639
Speaker 1: There no new doorknobs. So I'm just saying, if you know,

55
00:02:42,200 --> 00:02:44,320
Speaker 1: if we don't let it could be the door knobs.

56
00:02:44,919 --> 00:02:47,840
Speaker 2: For more from the Mic Asking Breakfast, listen live to

57
00:02:47,960 --> 00:02:51,040
Speaker 2: news talks that'd be from six am weekdays, or follow

58
00:02:51,080 --> 00:02:52,760
Speaker 2: the podcast on iHeartRadio