1 00:00:00,360 --> 00:00:04,360 Speaker 1: The huddle with New Zealand Southby's international realty, local and 2 00:00:04,400 --> 00:00:05,760 Speaker 1: global exposure like. 3 00:00:05,880 --> 00:00:08,240 Speaker 2: Noah Hey, Jack Tame, host of Q and A Saturday 4 00:00:08,240 --> 00:00:11,000 Speaker 2: mornings here on Newstalk Zibia, Nick Mills, Wellington Morning's host, 5 00:00:11,039 --> 00:00:12,400 Speaker 2: both of you, welcome. 6 00:00:12,640 --> 00:00:15,800 Speaker 3: Killed a good morning, All right, good evening. Sorry, I'm 7 00:00:15,800 --> 00:00:16,960 Speaker 3: still thinking I'm doing my show. 8 00:00:17,040 --> 00:00:19,200 Speaker 2: But evening, well, I still reckon I go with afternoon 9 00:00:19,200 --> 00:00:19,800 Speaker 2: at the stage. 10 00:00:19,880 --> 00:00:23,760 Speaker 3: Nick, No, it's evening. It's halfter five after five, it's evening. 11 00:00:23,800 --> 00:00:25,160 Speaker 2: Okay, I didn't know that was the rule, but it's 12 00:00:25,160 --> 00:00:26,960 Speaker 2: good to know. What do you think about the paper bags? 13 00:00:28,000 --> 00:00:30,920 Speaker 3: Well, you see, I've got a great system. My office manager, she. 14 00:00:31,360 --> 00:00:34,880 Speaker 4: Loves her local hospice shop and they're always after paper bags. 15 00:00:34,880 --> 00:00:37,240 Speaker 4: So we have a little thing in our office where 16 00:00:37,240 --> 00:00:40,199 Speaker 4: we all bring our used bags and she folds them 17 00:00:40,240 --> 00:00:42,120 Speaker 4: up and takes them to the local hospice shop. So 18 00:00:42,200 --> 00:00:45,320 Speaker 4: I'm I'm a little bit on a different side of 19 00:00:45,360 --> 00:00:47,720 Speaker 4: the fence to Ryan on that one, but I understand totally. 20 00:00:47,800 --> 00:00:49,320 Speaker 4: You know what happened to me a couple of weeks ago, 21 00:00:49,400 --> 00:00:52,400 Speaker 4: someone from our family ordered a great big dinner at 22 00:00:52,400 --> 00:00:55,480 Speaker 4: at a very upmarket Chinese restaurant. I paid for it everything. 23 00:00:55,600 --> 00:00:57,319 Speaker 4: I went to pick it up and I saw I'm 24 00:00:57,320 --> 00:00:58,760 Speaker 4: not going to be able to carry this, and the 25 00:00:58,840 --> 00:01:01,000 Speaker 4: lady said, would you like a plas paper bag? And 26 00:01:01,040 --> 00:01:03,320 Speaker 4: I said yes please, she said thirty cents. 27 00:01:03,560 --> 00:01:05,760 Speaker 3: After spending one hundred and forty dollars on meals they 28 00:01:05,800 --> 00:01:07,880 Speaker 3: wanted to charge and I didn't have any casual change 29 00:01:07,880 --> 00:01:10,240 Speaker 3: on me so I had to FBOs thirty cents. Now 30 00:01:10,319 --> 00:01:11,120 Speaker 3: is that pathetic? 31 00:01:12,200 --> 00:01:15,440 Speaker 2: That's pathetic? But I okay, that is pathetic, and that 32 00:01:15,520 --> 00:01:17,360 Speaker 2: is a fair point. But that is basically Jack, what 33 00:01:17,360 --> 00:01:19,679 Speaker 2: the supermarkets are doing, because you got forty cents for 34 00:01:19,720 --> 00:01:21,440 Speaker 2: a paper bag is too much. They are making a 35 00:01:21,440 --> 00:01:22,399 Speaker 2: massive profit on that. 36 00:01:22,760 --> 00:01:24,600 Speaker 5: Yeah, I mean you have to my yourself, what is 37 00:01:24,640 --> 00:01:26,759 Speaker 5: the purpose of charging us that much? Is it so 38 00:01:26,800 --> 00:01:28,760 Speaker 5: they can turn a profit or is it so that 39 00:01:28,800 --> 00:01:31,920 Speaker 5: they can try and encourage us to be less wasteful 40 00:01:32,000 --> 00:01:34,440 Speaker 5: in our consumption? Because I would argue that actually that 41 00:01:34,560 --> 00:01:39,080 Speaker 5: second point isn't the responsibility of the supermar tickets, Like 42 00:01:39,360 --> 00:01:42,040 Speaker 5: we've got the policy with ban plastic bags, of policy 43 00:01:42,080 --> 00:01:44,560 Speaker 5: which I tend to disagree with Ryan on. I actually 44 00:01:44,600 --> 00:01:49,040 Speaker 5: think even though New Zealand's contribution to the ocean's pollution 45 00:01:49,240 --> 00:01:52,800 Speaker 5: probably hasn't made a massive dent in terms of in 46 00:01:52,880 --> 00:01:55,200 Speaker 5: terms of the global plastic pollution. I just think it's 47 00:01:55,200 --> 00:01:57,840 Speaker 5: so much nicerer not having plastic bags blowing around in 48 00:01:57,880 --> 00:02:00,000 Speaker 5: the street and then rivers and all that kind of stuf. 49 00:02:01,160 --> 00:02:05,559 Speaker 5: That being said, you know, this is not the responsibility 50 00:02:05,560 --> 00:02:08,400 Speaker 5: of the supermarkets. That was the decision whereby we decided 51 00:02:08,400 --> 00:02:10,360 Speaker 5: we were doing the right thing for the environment. Surely 52 00:02:11,000 --> 00:02:13,960 Speaker 5: the supermarket's responsibility is actually to make things as convenient 53 00:02:14,000 --> 00:02:16,400 Speaker 5: as possible for us, whilst doing it in a relatively 54 00:02:16,440 --> 00:02:19,200 Speaker 5: ecologically sensible way. And I agree at the moment they're 55 00:02:19,240 --> 00:02:19,760 Speaker 5: charging too much. 56 00:02:19,840 --> 00:02:22,480 Speaker 2: Yeah, it's annoying. Hey, what do you think about the 57 00:02:22,520 --> 00:02:24,480 Speaker 2: ocon that coming down? Are you breathing a bit of 58 00:02:24,480 --> 00:02:25,200 Speaker 2: a sigh of relief. 59 00:02:25,880 --> 00:02:27,600 Speaker 3: I'm a little bit disappointed now. 60 00:02:27,680 --> 00:02:29,640 Speaker 4: I know that I've been called a grumpy bugger all 61 00:02:29,639 --> 00:02:31,560 Speaker 4: week on my show this week, but I kind of 62 00:02:31,919 --> 00:02:34,639 Speaker 4: I was hoping for a Christmas present. I listened to 63 00:02:34,720 --> 00:02:36,440 Speaker 4: Mike Show this morning drive in to work, and I 64 00:02:36,440 --> 00:02:39,760 Speaker 4: was thinking to myself, as a resident economist, said go harder, 65 00:02:39,919 --> 00:02:42,840 Speaker 4: go bigger, go seventy five points, and it's you know, 66 00:02:43,000 --> 00:02:45,240 Speaker 4: four months until we get the next one. This was 67 00:02:45,280 --> 00:02:49,400 Speaker 4: a great opportunity for Adrian or to show he had some, 68 00:02:50,280 --> 00:02:50,680 Speaker 4: wasn't it. 69 00:02:50,680 --> 00:02:53,200 Speaker 3: It was a great opportunity, you know, you know the 70 00:02:53,240 --> 00:02:54,840 Speaker 3: thing that meant between leagues. 71 00:02:56,560 --> 00:02:58,520 Speaker 4: I don't want to be rude, but you know what 72 00:02:58,520 --> 00:03:00,240 Speaker 4: I mean, And I saw I was a little little 73 00:03:00,240 --> 00:03:00,880 Speaker 4: bit disappointing. 74 00:03:00,919 --> 00:03:03,040 Speaker 3: Am I pleased that it's moved? Of course I am. 75 00:03:03,080 --> 00:03:04,520 Speaker 3: But I thought I thought this was a. 76 00:03:04,520 --> 00:03:08,240 Speaker 4: Great opportunity to go hard and really we're still doing 77 00:03:08,280 --> 00:03:08,720 Speaker 4: it tough. 78 00:03:08,960 --> 00:03:10,640 Speaker 3: Yeah, yeah, I couldn't have gone a bit harder. 79 00:03:10,720 --> 00:03:12,840 Speaker 2: Yeah, I Jack. I can't help but feel it's a 80 00:03:12,880 --> 00:03:14,839 Speaker 2: bit of a capitulation by the Reserve Bank, and they're 81 00:03:14,840 --> 00:03:16,920 Speaker 2: just letting the market basically decide for They letting the 82 00:03:16,919 --> 00:03:19,679 Speaker 2: market do all the thinking market prices and fifty bp okay, fine, 83 00:03:19,720 --> 00:03:20,400 Speaker 2: will go with it. 84 00:03:21,040 --> 00:03:21,359 Speaker 4: Yeah. 85 00:03:21,480 --> 00:03:21,720 Speaker 3: Yeah. 86 00:03:21,760 --> 00:03:24,560 Speaker 5: It's interesting how much that seems to influence the Monastery 87 00:03:24,639 --> 00:03:27,000 Speaker 5: Policy Committee. A. I mean a couple of points I 88 00:03:27,000 --> 00:03:29,000 Speaker 5: would raise. First of all, obviously I was hoping for 89 00:03:29,000 --> 00:03:31,520 Speaker 5: a seventy five basis point right cut. In fact, my 90 00:03:31,639 --> 00:03:33,560 Speaker 5: mortgage came up at the end of October and I 91 00:03:33,639 --> 00:03:36,240 Speaker 5: decided to float until today, so that I could wait 92 00:03:36,280 --> 00:03:37,840 Speaker 5: and see what RBNZ decided. 93 00:03:37,960 --> 00:03:38,640 Speaker 2: Was that a good call? 94 00:03:39,760 --> 00:03:40,520 Speaker 3: Yeah, I think it will be. 95 00:03:40,640 --> 00:03:42,000 Speaker 5: I think I did the math, so I did the 96 00:03:42,040 --> 00:03:43,880 Speaker 5: back of the envelope sums, and I think I think 97 00:03:43,880 --> 00:03:46,640 Speaker 5: it ultimately will be, although not nearly as profitable or 98 00:03:46,760 --> 00:03:48,200 Speaker 5: not nearly as good for me as it might have 99 00:03:48,240 --> 00:03:50,800 Speaker 5: been if I got seventy five, I think there's a 100 00:03:50,800 --> 00:03:53,240 Speaker 5: good argument that they should be moving faster, especially given 101 00:03:54,160 --> 00:03:56,160 Speaker 5: the cpis at two point two percent. I mean, it's 102 00:03:56,280 --> 00:03:59,840 Speaker 5: very very close to that target point. That being said, 103 00:04:00,400 --> 00:04:03,920 Speaker 5: I do think the Trump factor complicates things a little bit, 104 00:04:04,080 --> 00:04:06,400 Speaker 5: like when you look at some of the international pressures, 105 00:04:06,640 --> 00:04:09,040 Speaker 5: we can't I mean, he's just announced overnight that he's 106 00:04:09,040 --> 00:04:12,280 Speaker 5: definitely going to be bringing in those tariffs on Mexico, Canada, 107 00:04:12,320 --> 00:04:15,880 Speaker 5: and China, and so given he's going to be inaugurated 108 00:04:15,920 --> 00:04:19,839 Speaker 5: between now and the next decision for the Reserve Bank, 109 00:04:19,880 --> 00:04:22,120 Speaker 5: I can understand why they are at the very least 110 00:04:22,160 --> 00:04:24,920 Speaker 5: a little bit cautious and not wanting to go too quickly. 111 00:04:24,960 --> 00:04:26,400 Speaker 5: But one other number stuck out to me that I 112 00:04:26,480 --> 00:04:30,040 Speaker 5: think we should all be celebrating. And obviously, forecasts is 113 00:04:30,080 --> 00:04:32,280 Speaker 5: just forecast at the stage, but I went back and 114 00:04:32,320 --> 00:04:35,400 Speaker 5: looked at the NPS from August. Back then, the Reserve 115 00:04:35,440 --> 00:04:39,159 Speaker 5: Bank was expecting unemployment hitt five point four percent next year. 116 00:04:39,240 --> 00:04:41,960 Speaker 5: They pull that back five point two percent now, So 117 00:04:42,160 --> 00:04:44,680 Speaker 5: I mean, this isn't a soft landing as such, but 118 00:04:45,080 --> 00:04:47,920 Speaker 5: clearly if we could keep unemployment at about five point 119 00:04:47,960 --> 00:04:51,400 Speaker 5: two percent or lower while bringing down the OCR over 120 00:04:51,440 --> 00:04:53,560 Speaker 5: the next felve months, I think that would be pretty successful. 121 00:04:53,600 --> 00:04:56,599 Speaker 2: Thank you Australia for taking all of our exports. Well, okay, listen, 122 00:04:56,680 --> 00:04:59,000 Speaker 2: I want to talk about I want to talk about Yep, 123 00:04:59,080 --> 00:05:01,640 Speaker 2: that's right, That's what I mean. Nic. I want to 124 00:05:01,640 --> 00:05:03,280 Speaker 2: talk about you make Tory, So hang on a take. 125 00:05:03,279 --> 00:05:03,920 Speaker 2: We're going to do that. 126 00:05:04,760 --> 00:05:08,479 Speaker 1: The huddle with New Zealand Southeby's International Realty Elevate the 127 00:05:08,520 --> 00:05:10,240 Speaker 1: marketing of your home right back. 128 00:05:10,080 --> 00:05:11,760 Speaker 2: With Nick Mills and Jack tam Nick, So what do 129 00:05:11,800 --> 00:05:14,000 Speaker 2: you make of your council sitting down deciding they need 130 00:05:14,040 --> 00:05:15,880 Speaker 2: to save five hundred million bucks and they're not knowing 131 00:05:15,880 --> 00:05:16,719 Speaker 2: how much they saved. 132 00:05:17,480 --> 00:05:19,080 Speaker 3: They didn't have a clue how much they needed to 133 00:05:19,120 --> 00:05:21,160 Speaker 3: save at the start. It's changed every second week. 134 00:05:21,400 --> 00:05:24,240 Speaker 4: The numbers have changed from two hundred and fifty million 135 00:05:24,480 --> 00:05:25,520 Speaker 4: to five hundred million. 136 00:05:25,680 --> 00:05:26,560 Speaker 3: I mean, what sort. 137 00:05:26,440 --> 00:05:30,039 Speaker 4: Of company organization can have that sort of insecurity in 138 00:05:30,080 --> 00:05:30,640 Speaker 4: front of them. 139 00:05:31,440 --> 00:05:33,279 Speaker 3: It's just absolutely nuts. 140 00:05:33,480 --> 00:05:36,360 Speaker 4: And you know, Lindsey McKenzie wouldn't do it interview, he 141 00:05:36,360 --> 00:05:39,200 Speaker 4: wouldn't talk to anybody, sat there like with a straight face. 142 00:05:39,240 --> 00:05:41,880 Speaker 4: According to Georgina Campbell, who was there for the seven hours, 143 00:05:42,080 --> 00:05:45,400 Speaker 4: he just wasn't you know, wasn't having any involvement whatsoever, 144 00:05:45,480 --> 00:05:49,000 Speaker 4: just sitting there watching the whole thing is terrifying. I mean, 145 00:05:49,000 --> 00:05:52,120 Speaker 4: if you're a Wellingtonian and your rates, I mean, our 146 00:05:52,200 --> 00:05:56,160 Speaker 4: rates are nuts in the city. Commercial rates are crazy 147 00:05:56,200 --> 00:05:58,799 Speaker 4: in the city, almost double what they are in Auckland 148 00:05:58,960 --> 00:05:59,800 Speaker 4: for value. 149 00:05:59,720 --> 00:06:03,440 Speaker 3: To show for property. It's just absolutely nuts and no one, 150 00:06:03,760 --> 00:06:04,840 Speaker 3: no one knows what's happening. 151 00:06:04,960 --> 00:06:08,200 Speaker 2: Yeah, it totally vindicates, I think jack the decision by 152 00:06:08,200 --> 00:06:09,560 Speaker 2: Simon Brown to call in the observer. 153 00:06:10,560 --> 00:06:13,200 Speaker 5: Yes, well it doesn't necessarily sound that the observers had 154 00:06:13,200 --> 00:06:15,520 Speaker 5: a huge influence on on the meeting. 155 00:06:16,760 --> 00:06:18,039 Speaker 2: You guys, he's an observer. 156 00:06:18,600 --> 00:06:21,400 Speaker 5: Yeah, well that's the thing that but I mean, are 157 00:06:21,400 --> 00:06:23,120 Speaker 5: we any clearer as a result. 158 00:06:22,920 --> 00:06:27,120 Speaker 2: Is he may be clearer? Like his point the point 159 00:06:27,120 --> 00:06:29,520 Speaker 2: of his job is literally to sit there until someone 160 00:06:29,520 --> 00:06:31,400 Speaker 2: asks for his help and then to go to Simon 161 00:06:31,440 --> 00:06:33,559 Speaker 2: and be like, oh mate, it's a total shiite. 162 00:06:33,720 --> 00:06:33,920 Speaker 4: Yeah. 163 00:06:34,040 --> 00:06:36,320 Speaker 5: Yeah, I think I think a few thing would be 164 00:06:36,360 --> 00:06:37,880 Speaker 5: to say that the proof of the pudding is in 165 00:06:37,920 --> 00:06:39,880 Speaker 5: the eating in that one, but absolutely I think having 166 00:06:40,240 --> 00:06:42,360 Speaker 5: you know, there's a good argument to be made that 167 00:06:42,480 --> 00:06:45,560 Speaker 5: having eyes in that meeting is probably been vindication of 168 00:06:45,600 --> 00:06:47,640 Speaker 5: a certain degree. But it is wiful. The fact that 169 00:06:47,640 --> 00:06:49,400 Speaker 5: no one can give us any clarity on this is 170 00:06:49,440 --> 00:06:53,120 Speaker 5: absolutely woful for an organization of their size, and just yeah, 171 00:06:53,240 --> 00:06:56,280 Speaker 5: you know, it's just there's such a there's such a 172 00:06:56,320 --> 00:06:59,880 Speaker 5: trust gap, and you know, when it comes to Wellington's 173 00:06:59,880 --> 00:07:04,200 Speaker 5: resident in the council and every day that this continues, 174 00:07:04,279 --> 00:07:09,200 Speaker 5: every time we have more confusion and you know, disagreement 175 00:07:09,360 --> 00:07:12,040 Speaker 5: and people saying one thing and other people contradicting them. 176 00:07:12,080 --> 00:07:15,040 Speaker 5: It just it just really undermines whatever trust remains. 177 00:07:15,120 --> 00:07:17,800 Speaker 2: Yeah, totally, Hey, Nick, you bought anything in the Black 178 00:07:17,800 --> 00:07:18,560 Speaker 2: Friday sales? 179 00:07:19,240 --> 00:07:21,840 Speaker 3: No, don't be stupid. I'm over twenty. 180 00:07:22,760 --> 00:07:25,480 Speaker 2: Okay, okay, So what you don't buy anything? Is that 181 00:07:25,480 --> 00:07:28,240 Speaker 2: why you're stupid? From nineteen ninety five? 182 00:07:28,920 --> 00:07:29,920 Speaker 3: No, I haven't. 183 00:07:30,000 --> 00:07:33,360 Speaker 4: I haven't bought anything and I'm things are quite tight 184 00:07:33,520 --> 00:07:35,559 Speaker 4: either right now, So I'm not in the spending mood. 185 00:07:35,720 --> 00:07:37,760 Speaker 3: You know, I'm not in the spending mood. But close 186 00:07:37,800 --> 00:07:40,520 Speaker 3: to the Christmas I'll do my spending. I did, Heather, Yeah, 187 00:07:40,560 --> 00:07:41,080 Speaker 3: what did you want? 188 00:07:41,080 --> 00:07:43,000 Speaker 5: To be very excited about this? I bought a new 189 00:07:43,520 --> 00:07:45,640 Speaker 5: drum roll please by helmet? 190 00:07:47,480 --> 00:07:48,520 Speaker 2: Is it a cool one or is it? 191 00:07:48,640 --> 00:07:49,120 Speaker 3: Like? No? 192 00:07:49,120 --> 00:07:52,120 Speaker 5: No, it's really uncle, super uncle. 193 00:07:52,280 --> 00:07:53,120 Speaker 3: Yeah, super uncle. 194 00:07:53,720 --> 00:07:56,040 Speaker 5: And not only that, I went to the chemist Warehouse 195 00:07:56,040 --> 00:07:57,240 Speaker 5: because they've got a big sale. 196 00:07:57,040 --> 00:07:59,600 Speaker 3: And I got like bulk. 197 00:08:01,520 --> 00:08:03,920 Speaker 5: Like I have a very like specific tase when it 198 00:08:03,960 --> 00:08:07,280 Speaker 5: comes to dental hygiene, and I got bulked dental floss 199 00:08:07,320 --> 00:08:09,080 Speaker 5: because den the foss can be surprising the expensive. 200 00:08:09,800 --> 00:08:12,240 Speaker 2: What about your wife because she's nesting now, because she's 201 00:08:12,240 --> 00:08:13,320 Speaker 2: so pregnant. 202 00:08:13,040 --> 00:08:16,040 Speaker 5: Yeah, well she, I'm sure she'll be delighted when she 203 00:08:16,440 --> 00:08:19,040 Speaker 5: receives my Christmas gift of bulk dental floss. 204 00:08:20,480 --> 00:08:20,960 Speaker 3: Can I tell you? 205 00:08:21,040 --> 00:08:23,440 Speaker 4: Can I give you both a bit of advice? Jack, 206 00:08:23,520 --> 00:08:25,520 Speaker 4: Listen listen to Nick on this one. Listen to big 207 00:08:25,560 --> 00:08:28,560 Speaker 4: brother Nick on this one. A water blaster. Right, my 208 00:08:29,000 --> 00:08:31,760 Speaker 4: hygenis told me to get a water blaster, which costs 209 00:08:31,800 --> 00:08:32,680 Speaker 4: me quite a bit of money. 210 00:08:32,679 --> 00:08:35,320 Speaker 3: At the time. I am so in love with my 211 00:08:35,360 --> 00:08:35,960 Speaker 3: water blaster. 212 00:08:36,040 --> 00:08:38,640 Speaker 5: If you mean a dental water blaster, don't you mean 213 00:08:38,679 --> 00:08:47,040 Speaker 5: like the carts ones outside floss It's so incredible. 214 00:08:47,040 --> 00:08:49,240 Speaker 2: If you've got one, No, I don't, And can I 215 00:08:49,240 --> 00:08:51,280 Speaker 2: tell you ask your wife if she loves it, because 216 00:08:51,320 --> 00:08:53,640 Speaker 2: my husband's got one, and I do not love finding 217 00:08:53,679 --> 00:08:55,280 Speaker 2: all the little bits of food all over the sink. 218 00:08:55,400 --> 00:08:55,920 Speaker 2: It sucks. 219 00:08:56,840 --> 00:08:58,640 Speaker 3: I clean it out after. When I do it. 220 00:09:00,080 --> 00:09:01,319 Speaker 2: Clean though, or a girl clean. 221 00:09:02,320 --> 00:09:04,600 Speaker 3: You know the answer to that here, boy, you know 222 00:09:04,679 --> 00:09:06,320 Speaker 3: the answer to that. You know me well enough to 223 00:09:06,360 --> 00:09:07,640 Speaker 3: know that when I clean eye clean. 224 00:09:07,720 --> 00:09:09,800 Speaker 2: Oh okay, I'm gonna I'm going to trust you on that. Guys, 225 00:09:09,840 --> 00:09:12,960 Speaker 2: thank you very much. And Jack, congratulations on the pregnancy. 226 00:09:13,040 --> 00:09:16,000 Speaker 2: So cool, Jack, Tame and Nick Mills a huddle this evening. 227 00:09:16,640 --> 00:09:19,800 Speaker 1: For more from Hither Duplessy Allen Drive, listen live to 228 00:09:19,920 --> 00:09:22,920 Speaker 1: news talks it'd be from four pm weekdays, or follow 229 00:09:22,960 --> 00:09:24,760 Speaker 1: the podcast on iHeartRadio.