1 00:00:00,080 --> 00:00:01,880 Speaker 1: A little bit of housing talk for you. Are we 2 00:00:01,920 --> 00:00:04,400 Speaker 1: seeing life in the housing market? Does it spring? Is 3 00:00:04,400 --> 00:00:07,040 Speaker 1: that the Reserve Bank the mortgage rate cuts in the 4 00:00:07,040 --> 00:00:10,560 Speaker 1: Corimental one roof September outlook tells us demands increase one 5 00:00:10,640 --> 00:00:14,960 Speaker 1: hundred and thirteen percent year on year. General manager of 6 00:00:14,960 --> 00:00:17,439 Speaker 1: Bailey's Corimental, Shawn Patterson's will the Shawn very good morning 7 00:00:17,480 --> 00:00:17,720 Speaker 1: to you. 8 00:00:18,760 --> 00:00:19,320 Speaker 2: Morning, Mike. 9 00:00:19,360 --> 00:00:21,119 Speaker 1: How are you very well? Indeed? Thank you? So how's 10 00:00:21,160 --> 00:00:23,120 Speaker 1: this manifesting itself? I mean, does this off a very 11 00:00:23,200 --> 00:00:25,480 Speaker 1: very low and quiet base and so suddenly you're busy 12 00:00:25,560 --> 00:00:26,640 Speaker 1: or you run off your feet? 13 00:00:27,800 --> 00:00:29,720 Speaker 2: Now, you're absolutely right. I mean we're coming from a 14 00:00:29,720 --> 00:00:32,000 Speaker 2: pretty low base there, Mike. You've got to turn around. 15 00:00:32,040 --> 00:00:34,080 Speaker 2: And although we don't like to dwell on it, think 16 00:00:34,120 --> 00:00:36,640 Speaker 2: about where we were a year ago, post storms and 17 00:00:37,159 --> 00:00:39,600 Speaker 2: no road roads in and things like that, which are 18 00:00:39,640 --> 00:00:42,800 Speaker 2: certainly making us an outlier. But that said, Mike, there's 19 00:00:42,920 --> 00:00:46,720 Speaker 2: definitely been a drastic change since aid OCR reduction. So 20 00:00:46,800 --> 00:00:50,599 Speaker 2: one roof absolutely right that we have seen a drastic 21 00:00:50,680 --> 00:00:53,240 Speaker 2: change off that low base, and I think that's been driven, 22 00:00:53,720 --> 00:00:55,640 Speaker 2: you know, really by a lot of cashed up people 23 00:00:55,680 --> 00:00:58,600 Speaker 2: who have been waiting nervously in the wings for a 24 00:00:58,600 --> 00:01:01,120 Speaker 2: bit of confidence and perhaps has just given them a 25 00:01:01,120 --> 00:01:04,000 Speaker 2: bit of confidence they need to make the leap and 26 00:01:04,080 --> 00:01:05,640 Speaker 2: get rid of that fear of overpaying. 27 00:01:05,880 --> 00:01:07,880 Speaker 1: Is this all from people out of town or is 28 00:01:07,920 --> 00:01:09,880 Speaker 1: it people within the market swapping houses? 29 00:01:11,600 --> 00:01:14,000 Speaker 2: A little bit of a mixture though. Seventy four percent 30 00:01:14,000 --> 00:01:17,320 Speaker 2: of our buyers last year and the Coramandel came from 31 00:01:17,319 --> 00:01:20,039 Speaker 2: outside the region, so that's quite normal for us. I'd 32 00:01:20,040 --> 00:01:22,800 Speaker 2: say the biggest group that we're seeing at the moment 33 00:01:23,000 --> 00:01:27,360 Speaker 2: is a continuation of people relocating from the city and 34 00:01:27,400 --> 00:01:31,080 Speaker 2: making permanent relocations. And Mike, I'm a big believer that 35 00:01:31,080 --> 00:01:34,000 Speaker 2: that's still you know, the trend of people looking for 36 00:01:34,640 --> 00:01:38,720 Speaker 2: a better work life balance and looking to locations like ours, 37 00:01:39,200 --> 00:01:41,200 Speaker 2: you know, where they can find a bit of lifestyle. 38 00:01:41,400 --> 00:01:43,959 Speaker 1: Saw a big jump in business confidence last week round 39 00:01:44,000 --> 00:01:46,679 Speaker 1: the whole country, not just the Coramandel. And you've seen 40 00:01:46,720 --> 00:01:49,720 Speaker 1: the Central Bank, the Reserve Bank move. How much weight 41 00:01:50,280 --> 00:01:53,560 Speaker 1: do you place on just these individual, little small movements. 42 00:01:53,600 --> 00:01:55,080 Speaker 1: Are people desperate to feel better? 43 00:01:56,440 --> 00:01:59,000 Speaker 2: Yeah? They are, Mike. I think everyone's looking for that, 44 00:01:59,480 --> 00:02:03,360 Speaker 2: everyone looking for that little silver lining, and absolutely you 45 00:02:03,360 --> 00:02:06,080 Speaker 2: know that everyone's been watching that. Obviously, are and It's 46 00:02:06,120 --> 00:02:09,120 Speaker 2: been talked about a lot, and you know, it certainly 47 00:02:09,200 --> 00:02:12,280 Speaker 2: had that impact on confidence that we hoped it would have. 48 00:02:13,760 --> 00:02:16,440 Speaker 1: Yeah, what's your sense of spring and summer? Does it 49 00:02:16,520 --> 00:02:18,200 Speaker 1: take off or is it a slow burn? 50 00:02:19,880 --> 00:02:22,119 Speaker 2: Well, what we've got at the moment is a whole 51 00:02:22,160 --> 00:02:25,640 Speaker 2: lot of inquiry, Mike, and it's starting to transact into deals, 52 00:02:25,680 --> 00:02:28,600 Speaker 2: you know. I mean we would usually, although we're not 53 00:02:28,639 --> 00:02:31,960 Speaker 2: as seasonal as we used to be, we would usually 54 00:02:32,040 --> 00:02:34,720 Speaker 2: see July and August being our quietest two months of 55 00:02:34,720 --> 00:02:37,520 Speaker 2: the year. And you know, year to date, July and 56 00:02:37,560 --> 00:02:40,360 Speaker 2: August have been our biggest months of the year. So 57 00:02:40,440 --> 00:02:43,760 Speaker 2: that's certainly showing that some of that confidence is turning 58 00:02:43,800 --> 00:02:47,519 Speaker 2: into transactions. And spring, spring in the back end of 59 00:02:47,600 --> 00:02:51,280 Speaker 2: summer are usually have to selling seasons. So I'd hope 60 00:02:51,320 --> 00:02:54,760 Speaker 2: that this confidence would continue and we'd see some more 61 00:02:54,800 --> 00:02:57,359 Speaker 2: stock traded because I think the the other key part 62 00:02:57,360 --> 00:03:00,280 Speaker 2: in our market at the moment, of course, like like 63 00:03:00,320 --> 00:03:03,240 Speaker 2: a lot of places around the country, as we've collected 64 00:03:03,720 --> 00:03:06,399 Speaker 2: a lot of stock while have been up, and there's 65 00:03:06,440 --> 00:03:09,040 Speaker 2: a lot of choice out there for buyers at the moment, 66 00:03:09,160 --> 00:03:12,080 Speaker 2: and you know, there's a lot of stock to be absorbed, 67 00:03:12,120 --> 00:03:15,520 Speaker 2: so it's going to take some serious gross in that 68 00:03:15,680 --> 00:03:19,200 Speaker 2: demand curve to absorb some of that stock before we 69 00:03:19,240 --> 00:03:22,120 Speaker 2: see any sort of impact on pricing good stuff. 70 00:03:22,160 --> 00:03:23,760 Speaker 1: I hope it goes well for you, mate, Sean Patterson, 71 00:03:23,800 --> 00:03:26,440 Speaker 1: who's the general manager of Bailey's and the Currimental. 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