1 00:00:00,040 --> 00:00:02,280 Speaker 1: Well, it's only Tuesday. The housing market getting good press 2 00:00:02,320 --> 00:00:05,080 Speaker 1: already yesterday. Some decent price numbers are today. New data 3 00:00:05,120 --> 00:00:07,240 Speaker 1: on mortgage lending up twenty one percent a year on year. 4 00:00:07,280 --> 00:00:10,119 Speaker 1: Credit demand has risen over five percent, arrears of falling 5 00:00:10,200 --> 00:00:12,200 Speaker 1: a business, credit demands up three and a half percent. 6 00:00:12,240 --> 00:00:16,200 Speaker 1: Hospit leading the way there. Keith McLoughlin, Centric's managing director. 7 00:00:15,960 --> 00:00:18,120 Speaker 2: Keith Morning, Good morning, mikey. 8 00:00:18,400 --> 00:00:20,960 Speaker 1: Are we in summer? Are there shoots all around us? 9 00:00:21,040 --> 00:00:22,560 Speaker 1: Is the light at the end of the tunnel? Have 10 00:00:22,680 --> 00:00:24,520 Speaker 1: we arrived on the promised land? 11 00:00:24,640 --> 00:00:28,640 Speaker 2: Keith, Well, Sidney, The trend is very, very favorable, Mike. 12 00:00:28,680 --> 00:00:32,559 Speaker 2: I think the fact that consumer confidence is rising. That's 13 00:00:32,600 --> 00:00:36,680 Speaker 2: evidence by the fact that consumers are confident now to 14 00:00:36,720 --> 00:00:39,199 Speaker 2: go out and buy our money to buy goods. We've 15 00:00:39,200 --> 00:00:41,839 Speaker 2: seen a growing trend as far as that's concerned. And 16 00:00:41,880 --> 00:00:44,559 Speaker 2: also the fact that consumer areas are falling away. I 17 00:00:44,560 --> 00:00:47,239 Speaker 2: think as a sign that households continue to manage their 18 00:00:47,280 --> 00:00:49,000 Speaker 2: budgets for very effectively. 19 00:00:49,280 --> 00:00:51,199 Speaker 1: Some people text me every time these numbers come out 20 00:00:51,240 --> 00:00:53,160 Speaker 1: and go credit demand is not good. That's a sign 21 00:00:53,240 --> 00:00:55,080 Speaker 1: that people aren't coping and they need more money. Is 22 00:00:55,120 --> 00:00:55,760 Speaker 1: that true or not? 23 00:00:56,880 --> 00:00:58,120 Speaker 2: No, I don't think it is. It's a sign that 24 00:00:58,160 --> 00:01:00,480 Speaker 2: people have confidence. I mean, key is generally don't borrow 25 00:01:00,560 --> 00:01:03,120 Speaker 2: money or buy things unless they know they can afford 26 00:01:03,160 --> 00:01:06,640 Speaker 2: to repay it. Q is a pretty genuine as far 27 00:01:06,680 --> 00:01:08,319 Speaker 2: as it's concerned. And the fact that they can now 28 00:01:08,360 --> 00:01:11,320 Speaker 2: go out and put money down on a house or 29 00:01:11,560 --> 00:01:13,960 Speaker 2: or buy household items with the confidence they are going 30 00:01:14,000 --> 00:01:16,319 Speaker 2: to retain their job and have the ability to repay it, 31 00:01:16,720 --> 00:01:20,119 Speaker 2: that certainly stimulates the economy, and small to medium sized 32 00:01:20,160 --> 00:01:22,840 Speaker 2: businesses certainly need their stimulation at the moment they do. 33 00:01:22,880 --> 00:01:24,679 Speaker 1: Indeed, what do you make I mean, I don't know 34 00:01:24,800 --> 00:01:27,080 Speaker 1: if you've got a view, but the numbers, the confidence 35 00:01:27,160 --> 00:01:30,160 Speaker 1: numbers that came out last Friday were still doer. And 36 00:01:30,240 --> 00:01:33,759 Speaker 1: yet when you look at the facts where something different. 37 00:01:33,760 --> 00:01:34,800 Speaker 1: How do you explain that? 38 00:01:35,880 --> 00:01:37,679 Speaker 2: Well, I think when you look at the consumer market, 39 00:01:37,720 --> 00:01:39,440 Speaker 2: I think for a period of time now that's been 40 00:01:39,680 --> 00:01:43,360 Speaker 2: trending upwards and looking quite confident. The real concern that 41 00:01:43,360 --> 00:01:44,840 Speaker 2: that I think is out there at the moment is 42 00:01:45,160 --> 00:01:48,400 Speaker 2: small to medium sized businesses and the number of liquidations 43 00:01:48,400 --> 00:01:50,840 Speaker 2: that are out there at the moment. I mean, unfortunately 44 00:01:50,880 --> 00:01:52,920 Speaker 2: it's not that high, but it certainly is trending high, 45 00:01:52,960 --> 00:01:55,000 Speaker 2: and I think it's going to continue for some time. 46 00:01:55,400 --> 00:01:58,400 Speaker 2: And it's that uncertainty around the business sector that creates 47 00:01:58,400 --> 00:01:59,000 Speaker 2: the concern. 48 00:01:59,520 --> 00:02:01,840 Speaker 1: Have we got competition among the banks? Are they keen 49 00:02:01,880 --> 00:02:03,880 Speaker 1: to get money out there if we're keen to borrow it? 50 00:02:04,680 --> 00:02:07,680 Speaker 2: Oh? Yes, I believe so. I think the thanks you know, 51 00:02:08,040 --> 00:02:09,960 Speaker 2: they're fighting for market share and they don't know there's 52 00:02:09,960 --> 00:02:11,560 Speaker 2: a lot of love loss between them as far as 53 00:02:11,800 --> 00:02:12,959 Speaker 2: competition is concerned. 54 00:02:13,240 --> 00:02:16,040 Speaker 1: Yeah, Are the first home buyers active? As that mortgage 55 00:02:16,040 --> 00:02:18,240 Speaker 1: money going to, you know, first home buyers. 56 00:02:18,840 --> 00:02:21,120 Speaker 2: It's a combination of both first time buyers and also 57 00:02:21,240 --> 00:02:24,560 Speaker 2: refinancing a bit irrespective of which one of those two 58 00:02:24,560 --> 00:02:26,359 Speaker 2: it is. I mean first home buyers, yes, good to 59 00:02:26,360 --> 00:02:28,079 Speaker 2: see it and get in and get reasonable rates for 60 00:02:28,120 --> 00:02:32,160 Speaker 2: their mortgages. But even people moving from one leander to another, 61 00:02:33,240 --> 00:02:35,600 Speaker 2: this means that are coming in at lower rates than 62 00:02:35,600 --> 00:02:37,960 Speaker 2: there were previously, which puts more money back into their 63 00:02:37,960 --> 00:02:41,160 Speaker 2: budgets and therefore, hopefully they'll spend it in the local market. 64 00:02:41,400 --> 00:02:44,119 Speaker 1: On a vibe thing, Here's where I'm at. I think 65 00:02:44,120 --> 00:02:46,680 Speaker 1: this is real. I think it's turned, it's on, and 66 00:02:46,760 --> 00:02:49,320 Speaker 1: I think next year it could go quite quickly in 67 00:02:49,360 --> 00:02:51,520 Speaker 1: a positive direction. Would you disagree with. 68 00:02:51,440 --> 00:02:54,160 Speaker 2: Me vehemently No, I would not disagree with you. I 69 00:02:54,200 --> 00:02:56,080 Speaker 2: think well, were the numbers that we're in through at 70 00:02:56,080 --> 00:02:58,799 Speaker 2: the moment. The numbers we're seeing certain support the fact 71 00:02:58,840 --> 00:03:02,120 Speaker 2: that we are Sidney strongly training in the right direction. 72 00:03:02,320 --> 00:03:03,919 Speaker 1: Good stuff, Keith, Always a pleasure to have you on 73 00:03:03,960 --> 00:03:07,359 Speaker 1: the program. Keith McLoughlin's Inrix, Managing Directed. For more from 74 00:03:07,400 --> 00:03:10,480 Speaker 1: the My Asking Breakfast, listen live to news talks It't 75 00:03:10,520 --> 00:03:14,360 Speaker 1: B from six am weekdays, or follow the podcast on iHeartRadio.