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Speaker 1: Let's look at property. Property owned has seen the lowest

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Speaker 1: resale profits in over a decade. This is from catality's

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Speaker 1: latest Pain and Game report. Eighty nine point four percent

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Speaker 1: of homes sold above their purchase price last quarter. That

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Speaker 1: is the lowest since twenty fourteen, but still means the

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Speaker 1: hell of a lot of us are selling and getting

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Speaker 1: a profit. Well on paper, Matt Ball needs in in.

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Speaker 1: Property Investors Federation is with us this morning. Matt, Good morning,

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Speaker 1: morning Ryan. It's interesting when you look at the who's

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Speaker 1: you know which area is christ Church pretty resilient. Auckland

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Speaker 1: actually the highest proportion of loss makers.

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Speaker 2: Yeah, Auckland's doing it a bit tough at the moment.

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Speaker 2: And you know, this is really interesting data. This is

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Speaker 2: hard data based on real sales and real purchases. It's, yeah,

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Speaker 2: very tough for Auckland. I think a lot of people

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Speaker 2: here bought at the peak and there may maybe some

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Speaker 2: people who are being forced to sell when they don't

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Speaker 2: really want to and they have to take a loss.

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Speaker 1: For a property investor, what do you do in a

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Speaker 1: situation like that? Do you sit on your property for

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Speaker 1: long longer and hold out and wait?

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Speaker 2: Yeah, for a property investor, it doesn't mean a lot,

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Speaker 2: to be honest, unless you brought it the peak and

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Speaker 2: you have to sell for some reason, then this is

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Speaker 2: just another cycle and you ride it out. If you

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Speaker 2: bought it ten years ago, well it was the COVID

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Speaker 2: blip that sort of shot the market up, and it

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Speaker 2: doesn't really matter. Prices went up too far now they're correcting.

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Speaker 2: You just keep holding your property. It's if you're forced

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Speaker 2: to sell then that's when it becomes a problem.

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Speaker 1: Where are Auckland investors buying right now? Are they buying

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Speaker 1: in Auckland because prices aren't relatively more know either falling

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Speaker 1: or stable, or are they looking elsewhere?

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Speaker 2: Investors are buying in lots of different locations. So I

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Speaker 2: was at one of our associations, the Auckland Associations meeting

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Speaker 2: the other night and people were saying, I've got a

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Speaker 2: great property in christ Church being a great return. You

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Speaker 2: guys should head down there and have a look, And

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Speaker 2: other people were saying different parts of the country. So

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Speaker 2: in Auckland absolutely, but also right around the country.

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Speaker 1: Matt, appreciate your time this morning at Ball New Zealand

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Speaker 1: Property Visitors Federation. For more from early edition with Ryan Bridge,

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Speaker 1: listen live to news talks it be from five am weekdays,

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Speaker 1: or follow the podcast on iHeartRadio