1 00:00:02,560 --> 00:00:08,119 Speaker 1: The issues, the interviews, and the inside Early with one 2 00:00:08,200 --> 00:00:10,920 Speaker 1: roof to make your property search simple. 3 00:00:11,320 --> 00:00:21,880 Speaker 2: News Dogs B Good morning, Welcome to Early Edition. I'm 4 00:00:21,880 --> 00:00:25,880 Speaker 2: Francesca Rudkin filling in for Andrew Dickens this morning. Good 5 00:00:25,880 --> 00:00:27,680 Speaker 2: to have you with us. You are most welcome to 6 00:00:27,680 --> 00:00:30,600 Speaker 2: contact me any time this morning. Give me a text 7 00:00:30,640 --> 00:00:33,279 Speaker 2: on ninety two ninety two. We can email me at 8 00:00:33,280 --> 00:00:37,360 Speaker 2: Francesca at newstorgs atb dot co dot NZ. On the 9 00:00:37,400 --> 00:00:39,520 Speaker 2: show today, we discuss whether the doctors should be able 10 00:00:39,560 --> 00:00:43,200 Speaker 2: to comment on regional issues that could impact public health. 11 00:00:43,520 --> 00:00:45,640 Speaker 2: We look at whether it's time to fix that home 12 00:00:45,680 --> 00:00:48,800 Speaker 2: loan in for a longer term, and what to expect 13 00:00:48,840 --> 00:00:52,560 Speaker 2: from the GDP figures for the final quarter of last year. 14 00:00:53,159 --> 00:00:56,120 Speaker 2: Out this morning, have we crawled out of a recession? 15 00:00:57,960 --> 00:00:58,639 Speaker 1: The agenda? 16 00:01:00,000 --> 00:01:03,000 Speaker 2: The US President Donald Trump says his hour long calls 17 00:01:03,040 --> 00:01:06,479 Speaker 2: with Zeenensky this morning was very good. The call, which 18 00:01:06,520 --> 00:01:09,319 Speaker 2: only just ended, was centered around the call Trump had 19 00:01:09,360 --> 00:01:14,520 Speaker 2: with Russian President Vladimir Putin yesterday. Posted on truth social 20 00:01:14,560 --> 00:01:18,840 Speaker 2: media account, Trump said, we are very much on track, 21 00:01:19,319 --> 00:01:21,240 Speaker 2: as the first time the two have spoken since the 22 00:01:21,280 --> 00:01:23,679 Speaker 2: heated exchange at the White House. At the end of 23 00:01:23,800 --> 00:01:27,320 Speaker 2: last month. We'll have more with US correspondent Mitch mccannon 24 00:01:27,480 --> 00:01:30,800 Speaker 2: later this hour. It is expected New Zealand's GDP will 25 00:01:30,840 --> 00:01:33,319 Speaker 2: be out of the Red Stats. New Zealand as releasing 26 00:01:33,360 --> 00:01:36,520 Speaker 2: figures for the final quarter of last year at midday. 27 00:01:36,920 --> 00:01:40,800 Speaker 2: Herald Business editor at large Liam Dan says he's expecting 28 00:01:40,880 --> 00:01:44,080 Speaker 2: growth in last year's fourth quarter because of strong export 29 00:01:44,120 --> 00:01:47,360 Speaker 2: markets for Darien meat, but we shouldn't be holding out 30 00:01:47,440 --> 00:01:51,160 Speaker 2: for anything massive though. Economists are picking a range of 31 00:01:51,240 --> 00:01:55,000 Speaker 2: between zero point three and zero point five percent growth 32 00:01:55,280 --> 00:02:00,520 Speaker 2: for the quarter, so that's pretty marginal. The UN have 33 00:02:00,640 --> 00:02:03,520 Speaker 2: confirmed one of its workers has been killed and others 34 00:02:03,600 --> 00:02:06,760 Speaker 2: injured after a compound in Gaza was damaged on Wednesday. 35 00:02:07,280 --> 00:02:10,399 Speaker 2: Head of the UN Office for Project Services wouldn't say 36 00:02:10,400 --> 00:02:12,920 Speaker 2: who carried out the strike, but the blast was not 37 00:02:13,120 --> 00:02:17,280 Speaker 2: accidental or related to d mining activity. The strike came 38 00:02:17,360 --> 00:02:20,920 Speaker 2: after Israel said it was resuming fighting in Gaza following 39 00:02:21,000 --> 00:02:33,239 Speaker 2: a two month ceasefire. And of be Loved Face of 40 00:02:33,280 --> 00:02:36,120 Speaker 2: film History is hitting the auction block. South Ofby's auction 41 00:02:36,280 --> 00:02:40,520 Speaker 2: House has confirmed an original screen use original screen used 42 00:02:40,520 --> 00:02:44,600 Speaker 2: model of Et from Stephens Spielberg's nineteen eighty two sci 43 00:02:44,600 --> 00:02:48,120 Speaker 2: fi classic will be offered up along with items from 44 00:02:48,160 --> 00:02:50,959 Speaker 2: the man who brought the iconic movie character to life, 45 00:02:51,040 --> 00:02:54,440 Speaker 2: Carla and Bolby. The et model will be offered with 46 00:02:54,480 --> 00:02:58,440 Speaker 2: an estimate of six hundred to nine hundred thousand US dollars. 47 00:02:58,440 --> 00:03:02,000 Speaker 2: That's around one to one want five million New Zealand dollars. 48 00:03:02,240 --> 00:03:03,600 Speaker 2: If you've got a spare buck. 49 00:03:05,200 --> 00:03:08,799 Speaker 1: Get ahead of the headlines on early edition with one 50 00:03:08,919 --> 00:03:12,320 Speaker 1: roof make your property search simple News Talk. 51 00:03:12,200 --> 00:03:14,320 Speaker 2: Said, be so today when you go to work, I 52 00:03:14,360 --> 00:03:16,640 Speaker 2: dare you to casually ask one of your colleagues what 53 00:03:16,720 --> 00:03:19,960 Speaker 2: do you earn? If you're allowed to? That is, if not, 54 00:03:20,160 --> 00:03:22,680 Speaker 2: maybe ask if you were allowed to talk about what 55 00:03:22,720 --> 00:03:25,760 Speaker 2: you earned, would you tell me? Reason being is labor. 56 00:03:25,880 --> 00:03:29,120 Speaker 2: MP Camilla Belich has a member's bill. It's called the 57 00:03:29,160 --> 00:03:32,520 Speaker 2: Employment Relations Amendment Bill, and it's going to target that 58 00:03:32,639 --> 00:03:37,000 Speaker 2: clause in your contract stopping you sharing information about you pay. 59 00:03:37,320 --> 00:03:40,560 Speaker 2: The idea behind this it's actually good. We want to 60 00:03:40,560 --> 00:03:44,600 Speaker 2: make sure that where education, ability and performance is measurably 61 00:03:44,640 --> 00:03:47,640 Speaker 2: equal between colleagues, they're paid the same. But I just 62 00:03:47,800 --> 00:03:51,920 Speaker 2: don't see people going around and sharing Williing Lilly information 63 00:03:52,360 --> 00:03:55,720 Speaker 2: about what they earn. Can we just not that kind 64 00:03:55,760 --> 00:03:58,480 Speaker 2: of people. We don't talk about money. We don't share 65 00:03:58,520 --> 00:04:01,840 Speaker 2: information like that. Don't want people to know what we 66 00:04:01,960 --> 00:04:05,480 Speaker 2: earn as much as we're dying to know what other 67 00:04:05,520 --> 00:04:08,600 Speaker 2: people earn. I don't think we should be gagged from 68 00:04:08,600 --> 00:04:10,640 Speaker 2: saying what we earn. If you want to, you should 69 00:04:10,640 --> 00:04:12,280 Speaker 2: be able to say that. I don't have an issue 70 00:04:12,280 --> 00:04:14,680 Speaker 2: with the removal of this clause from contracts, but we're 71 00:04:14,720 --> 00:04:17,920 Speaker 2: still not going to spill the beans, are we I'm 72 00:04:17,960 --> 00:04:20,040 Speaker 2: not sure how much difference this is going to make. 73 00:04:20,240 --> 00:04:22,120 Speaker 2: If we want to close the gender pay gap, then 74 00:04:22,160 --> 00:04:23,880 Speaker 2: we actually need to put our big gill pants on 75 00:04:23,920 --> 00:04:26,719 Speaker 2: and we need to be more proactive about getting paid 76 00:04:27,560 --> 00:04:31,640 Speaker 2: what we're worth. Demand more information from your employer about 77 00:04:31,680 --> 00:04:34,039 Speaker 2: the pay bands or steps or whatever system you have 78 00:04:34,080 --> 00:04:36,000 Speaker 2: in place. Learn more about what you need to move up, 79 00:04:36,040 --> 00:04:39,440 Speaker 2: and be more aggressive about having annual pay reviews, expressing 80 00:04:39,440 --> 00:04:41,720 Speaker 2: your goals, pitching your worth by assessing your value on 81 00:04:41,760 --> 00:04:44,120 Speaker 2: the open market. There is a lot we can do 82 00:04:44,400 --> 00:04:48,560 Speaker 2: aside from gossiping about pay to get better pay. It 83 00:04:48,640 --> 00:04:51,400 Speaker 2: is eleven past five. Y're with early edition. 84 00:04:51,920 --> 00:04:54,800 Speaker 1: News and views you trust has done Your day is 85 00:04:54,960 --> 00:04:59,160 Speaker 1: early edition with one roof. Make your property search, simple 86 00:04:59,320 --> 00:04:59,839 Speaker 1: youth talks. 87 00:05:01,120 --> 00:05:04,360 Speaker 2: Doctors are being told they need permission before commenting on 88 00:05:04,440 --> 00:05:08,280 Speaker 2: regional issues that could impact public health. Health Minister Simeon 89 00:05:08,360 --> 00:05:10,400 Speaker 2: Brown says he's fed up with the doctors giving advice 90 00:05:10,440 --> 00:05:13,839 Speaker 2: on issues like fast food. Executive director of the Association 91 00:05:13,880 --> 00:05:16,960 Speaker 2: of Salary Medical specialist Sarah Dalton is with me now, 92 00:05:17,320 --> 00:05:18,159 Speaker 2: good morning. 93 00:05:17,880 --> 00:05:19,960 Speaker 3: Sarah, Good morning. 94 00:05:20,279 --> 00:05:21,920 Speaker 2: Is Simon Brown overstepping the mark here? 95 00:05:23,279 --> 00:05:23,960 Speaker 3: I think he is. 96 00:05:24,120 --> 00:05:34,000 Speaker 2: Yeah, what's been the reaction by doctors. 97 00:05:29,960 --> 00:05:32,120 Speaker 3: The real sense of unease I think not just within 98 00:05:32,160 --> 00:05:36,080 Speaker 3: the National Public Health Service, but more widely that there's 99 00:05:36,080 --> 00:05:40,000 Speaker 3: an attempt to I guess silence doctors prevent them from 100 00:05:40,080 --> 00:05:44,600 Speaker 3: properly speaking up, both for issues of public health and 101 00:05:44,720 --> 00:05:49,080 Speaker 3: also patient safety. As far as public health goes, it's 102 00:05:49,120 --> 00:05:53,680 Speaker 3: a really key component of public health. Physicians and particularly 103 00:05:53,720 --> 00:05:58,000 Speaker 3: medical offices of health jobs to speak to issues of 104 00:05:58,160 --> 00:06:02,040 Speaker 3: broader public well being, and the Minister suggesting that they 105 00:06:02,040 --> 00:06:08,040 Speaker 3: confine themselves to immunizations is very narrow view and is wrong. 106 00:06:08,320 --> 00:06:11,159 Speaker 3: You know, there are lots of legislative powers that medical 107 00:06:11,160 --> 00:06:14,359 Speaker 3: offices of health have. I think if the Minister is 108 00:06:14,360 --> 00:06:17,039 Speaker 3: concerned about those who needs to work through the proper 109 00:06:17,080 --> 00:06:18,280 Speaker 3: parliamentary processes. 110 00:06:19,080 --> 00:06:21,600 Speaker 2: He's saying, any advice needs to be signed off at 111 00:06:21,600 --> 00:06:23,760 Speaker 2: a national level. Is this even practical? 112 00:06:25,160 --> 00:06:27,960 Speaker 3: Well, it flies in the face of certainly the direction 113 00:06:28,440 --> 00:06:31,680 Speaker 3: that Minister Reti was taking before him, of trying to 114 00:06:32,440 --> 00:06:36,000 Speaker 3: devolve back to local decision making across de fut To order. 115 00:06:36,680 --> 00:06:38,960 Speaker 3: That was very much an argument that was being put 116 00:06:39,920 --> 00:06:43,520 Speaker 3: and that, you know, the idea that taking a national 117 00:06:43,560 --> 00:06:45,640 Speaker 3: approach under to fut To Order was the wrong way 118 00:06:45,680 --> 00:06:49,040 Speaker 3: to go. Soon for regions have been established and under 119 00:06:49,080 --> 00:06:52,400 Speaker 3: that the districts remain and seemingly the PIY order legislation 120 00:06:52,560 --> 00:06:56,359 Speaker 3: talks about localities and empowering people for local decision making 121 00:06:56,680 --> 00:07:00,600 Speaker 3: that suited the local context. So it would be really 122 00:07:00,720 --> 00:07:05,400 Speaker 3: nice to know consistently what this government actually wants, what 123 00:07:05,480 --> 00:07:09,120 Speaker 3: they're going to support. And I think local people understand 124 00:07:09,200 --> 00:07:11,280 Speaker 3: that what is right for in Chicago may not be 125 00:07:11,400 --> 00:07:15,200 Speaker 3: right for West Coast or the chie Cutter. So I think, 126 00:07:15,320 --> 00:07:18,040 Speaker 3: you know, we need to we need to be sensible here, 127 00:07:18,080 --> 00:07:22,160 Speaker 3: but we also need to respect the significant training and 128 00:07:22,240 --> 00:07:25,800 Speaker 3: also responsibilities that a number of our senior doctors hold 129 00:07:25,840 --> 00:07:28,840 Speaker 3: under legislation. Let them get on with their work, because. 130 00:07:28,560 --> 00:07:31,119 Speaker 2: Do doctors actually have a duty to advise on things 131 00:07:31,160 --> 00:07:31,920 Speaker 2: like fast food. 132 00:07:33,040 --> 00:07:36,720 Speaker 3: Yeah, they do. So that's a core component. You know, 133 00:07:36,920 --> 00:07:41,760 Speaker 3: medical public health is in some respect about the social 134 00:07:41,760 --> 00:07:44,680 Speaker 3: and commercial determinants of health. You know, their patients, if 135 00:07:44,720 --> 00:07:49,320 Speaker 3: you like, is the whole populations of whole communities as 136 00:07:49,400 --> 00:07:51,680 Speaker 3: wide as the whole of New Zealand. That's why you know, 137 00:07:51,720 --> 00:07:56,560 Speaker 3: immunizations is an easy example to understand that if enough 138 00:07:56,600 --> 00:08:00,360 Speaker 3: people get immunized, that's a health prevention activity. People are 139 00:08:00,400 --> 00:08:05,800 Speaker 3: less likely to be infected if in setious disease arrives, right, 140 00:08:05,840 --> 00:08:09,320 Speaker 3: and so it helps to prevent against that. People don't 141 00:08:09,360 --> 00:08:13,720 Speaker 3: always see as clearly the widest social harms that can 142 00:08:13,760 --> 00:08:17,360 Speaker 3: be caused, for example, about access to you know, alcohol, tobacco, 143 00:08:17,960 --> 00:08:21,520 Speaker 3: fast food. They absolutely have an impact on people's health 144 00:08:21,520 --> 00:08:25,520 Speaker 3: and well being. And if where you live you have 145 00:08:25,600 --> 00:08:28,600 Speaker 3: ready access to those things and you can't afford to 146 00:08:28,600 --> 00:08:32,640 Speaker 3: buy healthier food, that is also going to have an 147 00:08:32,679 --> 00:08:35,880 Speaker 3: impact at a community level on people's health and well being. 148 00:08:36,160 --> 00:08:39,840 Speaker 3: So doctors do have an obligation, based on evidence what 149 00:08:39,880 --> 00:08:41,760 Speaker 3: we know, to talk about those things. 150 00:08:42,400 --> 00:08:44,640 Speaker 2: If doctors aren't giving the advice, who do we turn to. 151 00:08:45,800 --> 00:08:51,400 Speaker 3: That's a very good question. Isn't it. I don't know. 152 00:08:51,480 --> 00:08:53,080 Speaker 3: It's a little early in the days. I mean to 153 00:08:53,080 --> 00:08:56,160 Speaker 3: give you a proper, a proper answer on that, but 154 00:08:56,240 --> 00:08:58,160 Speaker 3: I think you know. The point is, we have a 155 00:08:58,240 --> 00:09:02,560 Speaker 3: trained and qualified cohort of professionals who can give us 156 00:09:02,600 --> 00:09:05,600 Speaker 3: that information. Why would we not use it? 157 00:09:06,200 --> 00:09:08,160 Speaker 2: So is there a plan to avoid the overreach? 158 00:09:08,200 --> 00:09:12,600 Speaker 3: Hair Sarah, Well, we will keep supporting our members to 159 00:09:12,800 --> 00:09:17,880 Speaker 3: speak out about what the evidence says and about what 160 00:09:18,040 --> 00:09:21,440 Speaker 3: is the right thing to do. We certainly will continue 161 00:09:21,440 --> 00:09:24,160 Speaker 3: to support them to speak out for patient safety because 162 00:09:24,200 --> 00:09:26,680 Speaker 3: I think that is absolutely critical and that is what 163 00:09:26,720 --> 00:09:27,960 Speaker 3: the people of New Zealand want. 164 00:09:28,320 --> 00:09:31,240 Speaker 2: Sarah Dalton, thank you for joining me this morning. Appreciate 165 00:09:31,280 --> 00:09:33,840 Speaker 2: that was the executive director of the Association of Salaried 166 00:09:34,160 --> 00:09:38,160 Speaker 2: Medical Specialists. Up next, home loan rates are coming down, 167 00:09:38,200 --> 00:09:40,360 Speaker 2: so is it time to fix for longer? We're going 168 00:09:40,440 --> 00:09:42,760 Speaker 2: to talk about that next. It's eighteen past five. 169 00:09:44,000 --> 00:09:48,080 Speaker 1: Really addition, with one roof make your property search simple, 170 00:09:48,320 --> 00:09:49,479 Speaker 1: News Dog said. 171 00:09:49,200 --> 00:09:53,360 Speaker 2: Be five twenty core logic as forecasting borrowers will fix 172 00:09:53,400 --> 00:09:56,760 Speaker 2: the longer as mortgage rates come down. Ninety percent of 173 00:09:56,800 --> 00:09:58,959 Speaker 2: home loans we're floating or fixed for less than a 174 00:09:59,040 --> 00:10:02,160 Speaker 2: year in January. But as rates get more affordable, homeowners 175 00:10:02,200 --> 00:10:05,920 Speaker 2: are fixing for longer. Call Logic chief property economist Calvin 176 00:10:06,000 --> 00:10:09,160 Speaker 2: Davidson is with us now, Good morning, Calvin, Good morning. 177 00:10:09,440 --> 00:10:12,280 Speaker 2: So you're seeing evidence of this that people are fixing 178 00:10:12,320 --> 00:10:12,760 Speaker 2: for longer. 179 00:10:13,960 --> 00:10:16,840 Speaker 4: Yeah, it's anecdotal at this point. We don't actually have 180 00:10:17,320 --> 00:10:19,680 Speaker 4: the hard figures on it you get. I'm expecting in 181 00:10:19,720 --> 00:10:22,319 Speaker 4: a couple of weeks we get February's data from the 182 00:10:22,360 --> 00:10:24,920 Speaker 4: Reserve Bank, I'd expect that will probably start to show 183 00:10:24,960 --> 00:10:27,920 Speaker 4: that trend, because, of course, in February we saw some 184 00:10:27,960 --> 00:10:32,160 Speaker 4: pretty you know, pretty intense competition re emerge that those 185 00:10:32,520 --> 00:10:35,200 Speaker 4: two and three year horizons, those fixed rates, the Bank's 186 00:10:35,240 --> 00:10:38,679 Speaker 4: really got competitive for those rates in February. So once 187 00:10:38,720 --> 00:10:40,840 Speaker 4: we get their data, I think we'll see it in 188 00:10:40,880 --> 00:10:44,160 Speaker 4: the facts. But right now, saying anecdotically, hearing from people 189 00:10:44,240 --> 00:10:47,000 Speaker 4: that those two and three year rates are starting to 190 00:10:47,000 --> 00:10:48,000 Speaker 4: get more popular again. 191 00:10:48,280 --> 00:10:50,480 Speaker 2: So when do you expect we will see a solid 192 00:10:50,520 --> 00:10:51,679 Speaker 2: switch to longer fixing. 193 00:10:53,400 --> 00:10:55,680 Speaker 4: Well, I mean, I think it could happen fairly quickly. 194 00:10:55,760 --> 00:10:57,680 Speaker 4: And once you once you're start to get those two 195 00:10:57,679 --> 00:11:01,080 Speaker 4: and three year rates below five percent, that's pretty appealing, 196 00:11:01,200 --> 00:11:05,240 Speaker 4: and particularly with the uncertainty around the world with various things, 197 00:11:05,360 --> 00:11:07,920 Speaker 4: people might just be starting and sinking. Okay, I wouldn't 198 00:11:07,920 --> 00:11:10,280 Speaker 4: mind some certainty over that two or three year period, 199 00:11:10,400 --> 00:11:13,560 Speaker 4: So I mean, no guarantees. We've seen a lot of 200 00:11:13,600 --> 00:11:18,600 Speaker 4: popularity for those shorter term flixes lately and may not 201 00:11:18,640 --> 00:11:21,240 Speaker 4: shift overnight, but you can certainly see the appeal of 202 00:11:21,280 --> 00:11:23,400 Speaker 4: those rates below five percent, the. 203 00:11:23,360 --> 00:11:25,720 Speaker 2: Low rates, the competition. What impact will this have on 204 00:11:25,760 --> 00:11:26,560 Speaker 2: the property market. 205 00:11:28,160 --> 00:11:30,920 Speaker 4: I mean, well, we're already seeing the property market more 206 00:11:30,960 --> 00:11:34,600 Speaker 4: generally start to turn around. It's fairly slow progress, and 207 00:11:34,679 --> 00:11:37,520 Speaker 4: it's been a pretty deep downturn. It's been quite prolonged. 208 00:11:37,559 --> 00:11:40,600 Speaker 4: But we've seen before the impact that lower mortgage rates 209 00:11:40,600 --> 00:11:42,959 Speaker 4: can have, and I think it's starting to come through now. 210 00:11:43,000 --> 00:11:46,319 Speaker 4: We've seen sales rising for probably a year or so. 211 00:11:46,400 --> 00:11:49,200 Speaker 4: It's been slow and from a low level, but sales 212 00:11:49,200 --> 00:11:52,319 Speaker 4: are rising, and we saw house prices starting to take 213 00:11:52,400 --> 00:11:54,960 Speaker 4: up again in February. So I think we're seeing that 214 00:11:55,040 --> 00:11:59,120 Speaker 4: evidence now. But the game is there's probably reason for 215 00:11:59,160 --> 00:12:01,480 Speaker 4: a restraint because at the same time, there's still a 216 00:12:01,520 --> 00:12:04,160 Speaker 4: lot of less things. The economy are still a bit weak. 217 00:12:04,240 --> 00:12:08,360 Speaker 4: There's restraint in terms of say, debt to income ratio 218 00:12:08,480 --> 00:12:12,040 Speaker 4: restrictions from the reserve banks. So there's support effectors, but 219 00:12:12,120 --> 00:12:14,600 Speaker 4: also things that are restraining the market too. 220 00:12:15,120 --> 00:12:17,599 Speaker 2: Is it benefiting or encouraging investors. 221 00:12:18,960 --> 00:12:21,760 Speaker 4: Yeah, we're definitely seeing investors coming back. That's been a 222 00:12:21,800 --> 00:12:25,679 Speaker 4: trend for probably about nine months now. They reached to 223 00:12:25,760 --> 00:12:28,120 Speaker 4: tros in terms of their bucket share at least about 224 00:12:28,120 --> 00:12:31,120 Speaker 4: sort of April May last year, and then since then 225 00:12:31,679 --> 00:12:35,040 Speaker 4: the tax rules had gone a little bit easier for investors, 226 00:12:35,040 --> 00:12:37,160 Speaker 4: and of course mortgage rates have come down, so that's 227 00:12:37,679 --> 00:12:41,640 Speaker 4: really helping to reduce those top ups that most investors 228 00:12:41,679 --> 00:12:45,960 Speaker 4: would require for a new rental purchase, so in other words, 229 00:12:45,960 --> 00:12:48,520 Speaker 4: topping up the cash flow from other sources of income. 230 00:12:49,320 --> 00:12:52,000 Speaker 4: As mortgage rates come down, those top ups come down, 231 00:12:52,280 --> 00:12:56,120 Speaker 4: and so yeah, there's evidence that investors are coming back 232 00:12:56,320 --> 00:12:59,400 Speaker 4: as those cash flowers improve. So I think probably a 233 00:12:59,400 --> 00:13:01,160 Speaker 4: busier year for investors this year too. 234 00:13:01,320 --> 00:13:03,160 Speaker 2: Calvin, is this a sign that interest rates are about 235 00:13:03,160 --> 00:13:04,440 Speaker 2: as low as they're going to get for the next 236 00:13:04,440 --> 00:13:05,199 Speaker 2: few years? 237 00:13:07,000 --> 00:13:10,120 Speaker 4: Well, a million dollar question again, Yeah, and you know, 238 00:13:10,120 --> 00:13:13,800 Speaker 4: there's no financial advice or anything here, but I mean 239 00:13:13,800 --> 00:13:16,720 Speaker 4: we've I think we probably have seen the biggest falls 240 00:13:16,720 --> 00:13:18,760 Speaker 4: and mortgage traits in his face that they've come down 241 00:13:18,840 --> 00:13:22,319 Speaker 4: pretty sharply in a recently short period of time, and 242 00:13:22,360 --> 00:13:24,760 Speaker 4: they're not they're very unlikely to go back to those 243 00:13:25,040 --> 00:13:28,520 Speaker 4: those COVID levels. So yeah, I mean, once we start 244 00:13:28,559 --> 00:13:30,280 Speaker 4: to get rates in that four and a half to 245 00:13:30,360 --> 00:13:34,400 Speaker 4: five percent kind of range, which is what we've got now, 246 00:13:34,559 --> 00:13:37,280 Speaker 4: you'd have to think that's getting fairly close to the bottoms. 247 00:13:37,400 --> 00:13:40,920 Speaker 4: So yeah, so big decisions for people. 248 00:13:41,200 --> 00:13:43,600 Speaker 2: Thank you, Calvin, appreciate your time this morning. That was 249 00:13:43,640 --> 00:13:47,480 Speaker 2: Calvin Davidson, Core Logic, Chief Property Economist, twenty four past. 250 00:13:47,280 --> 00:13:50,560 Speaker 1: Five, the early edition for All the Show podcast on 251 00:13:50,679 --> 00:13:53,120 Speaker 1: iHeartRadio powered by News Talks at Me. 252 00:13:54,559 --> 00:13:57,520 Speaker 2: It is twenty six past five. You're with early edition, Jee, 253 00:13:57,520 --> 00:13:59,920 Speaker 2: we've gone stadium man here in Auckland. We already had 254 00:14:00,160 --> 00:14:04,160 Speaker 2: seven pretty substantial stadiums ranging from four thousand person capacity 255 00:14:04,160 --> 00:14:06,840 Speaker 2: to fifty thousand, spread across the city from the north 256 00:14:06,840 --> 00:14:10,040 Speaker 2: short amount Eden Penrose to Manco, not including other sporting 257 00:14:10,040 --> 00:14:14,280 Speaker 2: and event spaces. But we can't stop suggesting we build 258 00:14:14,320 --> 00:14:17,920 Speaker 2: more while we wait for Auckland councilors to ponder feasibility 259 00:14:18,000 --> 00:14:20,640 Speaker 2: studies done by Eden Park in the proposed new waterfront 260 00:14:20,640 --> 00:14:23,560 Speaker 2: stadium in Key Park and announce who will go on 261 00:14:23,680 --> 00:14:26,960 Speaker 2: to win the title of Auckland's main stadium. Another stadium 262 00:14:27,080 --> 00:14:30,200 Speaker 2: is being pitched, this time for Western Springs, So Western 263 00:14:30,240 --> 00:14:34,240 Speaker 2: Springs Speedway has its final event on Saturday night. Although 264 00:14:34,240 --> 00:14:36,880 Speaker 2: we've heard that before and now Auckland Council is interested 265 00:14:36,920 --> 00:14:39,880 Speaker 2: in what to do with this valuable inner city site. 266 00:14:40,480 --> 00:14:43,680 Speaker 2: This really is an exciting opportunity, especially after years of 267 00:14:43,720 --> 00:14:48,320 Speaker 2: kafuffle around the speedway. Auckland might not need another entertainment 268 00:14:48,360 --> 00:14:50,760 Speaker 2: or sporting venue, but they are really nice to have, 269 00:14:51,240 --> 00:14:53,640 Speaker 2: especially when someone else is coughing up the money for them. 270 00:14:54,000 --> 00:14:57,200 Speaker 2: So Auckland has to ask itself what facilities do we need, 271 00:14:57,280 --> 00:14:59,440 Speaker 2: what would the inner city benefit from and can these 272 00:14:59,480 --> 00:15:02,920 Speaker 2: new facilit be used by as many teams and individuals 273 00:15:02,960 --> 00:15:06,600 Speaker 2: as possible. Real estate this valuable needs to be well 274 00:15:06,800 --> 00:15:09,960 Speaker 2: utilized year round. That's why quite like the proposal from 275 00:15:09,960 --> 00:15:12,440 Speaker 2: the team behind Auckland FC. The proposal for their new 276 00:15:12,480 --> 00:15:16,000 Speaker 2: facility features a twelve thousand, five hundred seeded stadium, covered 277 00:15:16,040 --> 00:15:19,760 Speaker 2: basketball courts and paddle courts. It's champion and backed by 278 00:15:20,080 --> 00:15:25,280 Speaker 2: Stephen Adams, Ali Williams, Anna Mowbray and billionaire football owners 279 00:15:25,320 --> 00:15:29,200 Speaker 2: Bill Foley and Bennett Rosenthal. The group of targeted football, 280 00:15:29,360 --> 00:15:32,840 Speaker 2: basketball and paddle because they are the fastest growing sports 281 00:15:32,840 --> 00:15:35,400 Speaker 2: in the world but lack infrastructure in Auckland, so they're 282 00:15:35,440 --> 00:15:37,960 Speaker 2: not just meeting a community need. It's also going to 283 00:15:37,960 --> 00:15:41,560 Speaker 2: be the home of Auckland FC, signaling this team is 284 00:15:41,600 --> 00:15:44,800 Speaker 2: a long term commitment, so that they're all good things. 285 00:15:45,520 --> 00:15:47,600 Speaker 2: I mean, I would observe things have gone pretty well 286 00:15:47,600 --> 00:15:50,200 Speaker 2: at go Media Stadium for Auckland FC this season, but 287 00:15:50,280 --> 00:15:53,440 Speaker 2: maybe not everyone likes traveling to Penrose. Maybe it's felt 288 00:15:53,440 --> 00:15:56,280 Speaker 2: an inner city location near hospo hubs will help sustain 289 00:15:56,320 --> 00:15:59,000 Speaker 2: interest in the team. Yes, my tongue is on my cheek. 290 00:15:59,280 --> 00:16:02,160 Speaker 2: According to the seen the proposal, this sporting facility would 291 00:16:02,160 --> 00:16:04,000 Speaker 2: be built at zero cost to the right player. The 292 00:16:04,080 --> 00:16:07,040 Speaker 2: only downside is the existing occupants, the Pontsibly Rugby Club 293 00:16:07,080 --> 00:16:08,640 Speaker 2: would need to move and of course it need to 294 00:16:08,640 --> 00:16:12,119 Speaker 2: be supported to do this. There are two more proposals. 295 00:16:12,200 --> 00:16:14,440 Speaker 2: The Pontsib Rugby Club wants to turn it into a 296 00:16:14,440 --> 00:16:16,880 Speaker 2: bigger venue and the entertainment group wants to turn it 297 00:16:16,920 --> 00:16:20,840 Speaker 2: into a multipurpose entertainment and community sports venue, but we 298 00:16:21,000 --> 00:16:23,560 Speaker 2: yet to hear the details on those proposals. In fact, 299 00:16:23,760 --> 00:16:26,200 Speaker 2: there is a lot of information were yet to see. 300 00:16:26,400 --> 00:16:29,560 Speaker 2: But fingers crossed this process will move faster than the 301 00:16:29,600 --> 00:16:35,160 Speaker 2: decision around the speedway. Whatever plans are presented, Remember the 302 00:16:35,240 --> 00:16:38,320 Speaker 2: locals are a vocal and determined lot. Win them over 303 00:16:38,440 --> 00:16:42,440 Speaker 2: and you might just have a chance. So do you 304 00:16:42,520 --> 00:16:44,800 Speaker 2: love it? Do you say? Bring it on? Have you 305 00:16:44,880 --> 00:16:48,120 Speaker 2: been dry dying to try paddle and you're wondering what 306 00:16:48,160 --> 00:16:50,360 Speaker 2: paddle is? It's that game that all the F one 307 00:16:50,440 --> 00:16:52,280 Speaker 2: players play. You know, It's kind of like tennis, but 308 00:16:52,280 --> 00:16:54,440 Speaker 2: the balls are allowed to hit the wall and slightly 309 00:16:54,480 --> 00:16:57,840 Speaker 2: different racket and a slightly different ball. I sort of 310 00:16:57,840 --> 00:17:00,360 Speaker 2: sound like I'm not I'm talking about right. I'm all 311 00:17:00,400 --> 00:17:02,360 Speaker 2: in for new facilities. I think it'll be a tough 312 00:17:02,440 --> 00:17:04,480 Speaker 2: choice on the Pope Ponts and be Rugby Club, but 313 00:17:04,480 --> 00:17:07,320 Speaker 2: they're the only ones with the plan and no money 314 00:17:07,320 --> 00:17:09,639 Speaker 2: to pay for it. And as I said, it's a 315 00:17:09,720 --> 00:17:12,040 Speaker 2: nice to have, not a need. So keen to hear 316 00:17:12,080 --> 00:17:13,960 Speaker 2: from you ninety two ninety two what would you like 317 00:17:14,000 --> 00:17:17,880 Speaker 2: to see done with the Western Springs? You're with early edition? 318 00:17:19,080 --> 00:17:21,640 Speaker 2: We can love love things that we know. 319 00:17:24,119 --> 00:17:30,800 Speaker 4: We can go forever till you are listen it out. 320 00:17:29,400 --> 00:17:31,840 Speaker 1: The news you need this morning and the in depth 321 00:17:31,920 --> 00:17:36,520 Speaker 1: analysis early edition with one roof make your property search simple. 322 00:17:36,680 --> 00:17:38,320 Speaker 1: News Talk said, be you. 323 00:17:38,480 --> 00:17:41,840 Speaker 3: Are men because I'm feeling messy. 324 00:17:43,320 --> 00:17:45,800 Speaker 4: Ectly you told me get. 325 00:17:45,680 --> 00:17:48,000 Speaker 5: A job and your love. 326 00:17:49,240 --> 00:17:51,320 Speaker 2: Good morning. This is early edition on news Talks. There'd 327 00:17:51,359 --> 00:17:53,680 Speaker 2: be I'm franchise because I've been filling in for Andrew today. 328 00:17:53,720 --> 00:17:55,840 Speaker 2: Thank you for being with us, and the next half 329 00:17:55,880 --> 00:17:57,920 Speaker 2: are we head to the US. A call has taken 330 00:17:57,920 --> 00:18:00,879 Speaker 2: place early this morning, our time, between and Trump, so 331 00:18:00,880 --> 00:18:03,080 Speaker 2: we're going to get the latest on that, and we're 332 00:18:03,119 --> 00:18:05,480 Speaker 2: really hoping for good news today that New Zealand has 333 00:18:05,560 --> 00:18:07,960 Speaker 2: crawled its way out of a recession. We're going to 334 00:18:07,960 --> 00:18:10,919 Speaker 2: get the queue four GDP data this morning. Most of 335 00:18:10,920 --> 00:18:13,240 Speaker 2: the ex books think we have, but we should be 336 00:18:13,359 --> 00:18:17,040 Speaker 2: very reserved with our expectations. It looks like economic recovery 337 00:18:17,080 --> 00:18:19,159 Speaker 2: is going to be a slow grind, so we're going 338 00:18:19,200 --> 00:18:22,280 Speaker 2: to cover this off before the end of the hour. Hey, 339 00:18:22,280 --> 00:18:25,240 Speaker 2: thanks so much for your feedback. Most of you seem 340 00:18:25,240 --> 00:18:28,439 Speaker 2: to think that a twelve five hundred seated stadium is 341 00:18:28,520 --> 00:18:32,159 Speaker 2: far too small for Auckland FC because they've been getting 342 00:18:32,160 --> 00:18:34,720 Speaker 2: great crowds out at go Media Stadium, so a lot 343 00:18:34,720 --> 00:18:36,440 Speaker 2: of comments on the fact that that's not too big. 344 00:18:37,119 --> 00:18:39,840 Speaker 2: Here's the thing. I presume they've worked out what size 345 00:18:39,840 --> 00:18:42,399 Speaker 2: stadium they can fit as well as having those other facilities. 346 00:18:42,440 --> 00:18:44,400 Speaker 2: And I do think it is important that they are 347 00:18:44,880 --> 00:18:47,679 Speaker 2: offering other facilities, not just another stadium, because you might 348 00:18:47,720 --> 00:18:49,960 Speaker 2: as well just stay at use one of the many 349 00:18:49,960 --> 00:18:52,440 Speaker 2: other stadiums we have. So I like the fact that 350 00:18:52,560 --> 00:18:56,919 Speaker 2: offering other options and other text degrees. I like the 351 00:18:56,960 --> 00:18:59,600 Speaker 2: idea of a new, fully purpose stadium with further sports 352 00:18:59,640 --> 00:19:03,200 Speaker 2: and mind we actually need rather than the same old 353 00:19:03,359 --> 00:19:08,040 Speaker 2: and another text just when anything but housing keep with 354 00:19:08,080 --> 00:19:11,720 Speaker 2: the feedback coming. You can text on ninety two ninety 355 00:19:11,720 --> 00:19:16,560 Speaker 2: two Does that be right? Let's head around the country 356 00:19:16,600 --> 00:19:20,080 Speaker 2: and joining us from Dunedin is Callum Proctor, Good morning, Callum. 357 00:19:20,160 --> 00:19:23,080 Speaker 2: I believe Contact Energy is to fight back after Southland 358 00:19:23,119 --> 00:19:24,480 Speaker 2: wind Farm has been rejected. 359 00:19:25,960 --> 00:19:29,120 Speaker 6: Yes, the Fast Track Consenting Panels shot down their proposal 360 00:19:29,160 --> 00:19:32,800 Speaker 6: on Tuesday. They said it wasn't satisfied that adverse effects 361 00:19:32,800 --> 00:19:37,440 Speaker 6: on indigenous plants and animals could be properly mitigated. Look, 362 00:19:37,480 --> 00:19:40,280 Speaker 6: this is a one billion dollar project. Local councils and 363 00:19:40,320 --> 00:19:42,960 Speaker 6: e WE had approved it, but Forest and Bird and 364 00:19:43,240 --> 00:19:47,240 Speaker 6: some local and landowners are opposed to it. Contact Boss 365 00:19:47,280 --> 00:19:49,959 Speaker 6: Mike Fuge says the rejection will add millions of dollars 366 00:19:50,000 --> 00:19:52,920 Speaker 6: and costs years of delays, and it sends the message 367 00:19:52,920 --> 00:19:55,800 Speaker 6: that New Zealand is not open for business. The company 368 00:19:55,840 --> 00:19:58,159 Speaker 6: will appeal or seek a consent under the new fast 369 00:19:58,160 --> 00:20:00,000 Speaker 6: track consent process. 370 00:20:00,080 --> 00:20:01,280 Speaker 2: Needin's weather column. 371 00:20:01,960 --> 00:20:04,520 Speaker 6: Yep, fine today morning and evening cloud nor easterly develops 372 00:20:04,560 --> 00:20:05,800 Speaker 6: the high today twenty. 373 00:20:05,800 --> 00:20:08,679 Speaker 2: Sounds lovely, Thank you so much. Claire Sherwood is in 374 00:20:08,760 --> 00:20:11,400 Speaker 2: christ yet, Good morning Claire. Now what is this about 375 00:20:11,480 --> 00:20:13,000 Speaker 2: teachers being stabbed at a school? 376 00:20:13,760 --> 00:20:16,879 Speaker 7: Yes, Francesca look the Ministry of Educations offering support to 377 00:20:16,880 --> 00:20:20,400 Speaker 7: a christ Church school after a student attacked two teachers 378 00:20:20,600 --> 00:20:24,040 Speaker 7: yesterday with a pair of scissors. Emergency services were called 379 00:20:24,040 --> 00:20:27,080 Speaker 7: to at nue's Highata Community campus at around two in 380 00:20:27,119 --> 00:20:31,080 Speaker 7: the afternoon. Principal Peggy Burrows says the assault did happen 381 00:20:31,119 --> 00:20:33,800 Speaker 7: in front of a number of students and staff. That's 382 00:20:33,840 --> 00:20:36,560 Speaker 7: been confirmed by parents who say children as young as 383 00:20:36,880 --> 00:20:40,600 Speaker 7: seven eighty nine saw it all unfolding. The principal says 384 00:20:40,600 --> 00:20:43,480 Speaker 7: the two teachers did receive some medical attention but didn't 385 00:20:43,480 --> 00:20:46,520 Speaker 7: need hospital. They recovering well. They won't be back at 386 00:20:46,560 --> 00:20:49,359 Speaker 7: school for the rest of this week at least police Meanwhile, 387 00:20:49,400 --> 00:20:51,280 Speaker 7: I'm making inquiries into the incident. 388 00:20:51,400 --> 00:20:53,360 Speaker 2: Goodness May and the weather today. 389 00:20:53,520 --> 00:20:57,040 Speaker 7: Mostly cloudy with Sampachi morning drizzle, then fine spouls, increasing 390 00:20:57,200 --> 00:20:59,240 Speaker 7: northeasterlies and a high of nineteen. 391 00:20:59,520 --> 00:21:04,480 Speaker 2: Thank you. Max Toole is in Wellington and Max Wellington 392 00:21:04,520 --> 00:21:06,000 Speaker 2: Facebook page is up for sale. 393 00:21:06,640 --> 00:21:09,560 Speaker 5: Yeah sounds a little odd, doesn't it. This is vic Deals, 394 00:21:10,080 --> 00:21:12,560 Speaker 5: a group created in twenty twelve. It operates as a 395 00:21:12,600 --> 00:21:16,359 Speaker 5: sort of community notice board where residents can list items 396 00:21:16,400 --> 00:21:20,600 Speaker 5: for sale, advertise their businesses, debate local issues, post emergency 397 00:21:20,640 --> 00:21:23,520 Speaker 5: updates when they need to from around the city. It 398 00:21:23,600 --> 00:21:26,439 Speaker 5: is a business. It contains advertising. It's got nearly a 399 00:21:26,520 --> 00:21:29,159 Speaker 5: quarter of a million followers two and a half million 400 00:21:29,200 --> 00:21:32,600 Speaker 5: page views per month. Owner Charlie Ward calls it a 401 00:21:32,600 --> 00:21:37,919 Speaker 5: modern and organic way to reach customers for businesses. Ward himself, 402 00:21:37,960 --> 00:21:39,880 Speaker 5: by the way twenty two, but he's listed it for sale. 403 00:21:40,119 --> 00:21:43,560 Speaker 5: Facebook pages incidentally still considered effective in a number of ways. 404 00:21:43,640 --> 00:21:47,679 Speaker 5: Former Mayor Justin Lester very recently turned his mayoral page 405 00:21:47,720 --> 00:21:52,080 Speaker 5: into a Wellington community Facebook page called Wellington Alive, which 406 00:21:52,480 --> 00:21:55,560 Speaker 5: seemed to be a testing ground for him to perhaps 407 00:21:55,560 --> 00:21:58,800 Speaker 5: decide whether to run again. Wellington Live is another one. 408 00:21:58,840 --> 00:22:02,280 Speaker 5: The owner there is running for mayor a platform for 409 00:22:02,320 --> 00:22:04,560 Speaker 5: a platform. 410 00:22:03,600 --> 00:22:05,280 Speaker 2: Max, I do feel a little bit of a snigger 411 00:22:05,280 --> 00:22:10,560 Speaker 2: there when you say Facebook, just a little Wellington's we're the. 412 00:22:10,480 --> 00:22:14,240 Speaker 5: Today, sure, mostly cloudy with the odd shower seventeen the 413 00:22:14,280 --> 00:22:15,320 Speaker 5: high Central. 414 00:22:15,320 --> 00:22:17,040 Speaker 2: Thank you so much and never ritty Manho was in 415 00:22:17,080 --> 00:22:17,840 Speaker 2: the Auckland studio. 416 00:22:17,880 --> 00:22:18,439 Speaker 8: Are you awake? 417 00:22:18,880 --> 00:22:22,560 Speaker 2: You're with us? Hang on, that's all right, that's just 418 00:22:22,560 --> 00:22:24,080 Speaker 2: the producer. We're on to it now. 419 00:22:24,600 --> 00:22:26,400 Speaker 9: She probably thought I was sitting in the other seat. 420 00:22:26,520 --> 00:22:29,080 Speaker 2: Good morning, good morning. How you have to say you're 421 00:22:29,119 --> 00:22:31,440 Speaker 2: looking very tenned am? I? Yes? 422 00:22:31,760 --> 00:22:33,240 Speaker 9: Is that natural? Or is it fake? 423 00:22:33,400 --> 00:22:33,680 Speaker 10: Fake? 424 00:22:34,119 --> 00:22:35,560 Speaker 2: Oh? Yeah, goods out of a bottle. 425 00:22:37,680 --> 00:22:38,840 Speaker 9: I must drie one of those. 426 00:22:38,920 --> 00:22:41,919 Speaker 2: Yeah, no, I think this is an Australian glow I 427 00:22:41,960 --> 00:22:43,760 Speaker 2: have on here out of a bottle. 428 00:22:44,080 --> 00:22:49,199 Speaker 9: All right, I'll take bick my compliment then, O oh no, no, 429 00:22:49,240 --> 00:22:50,280 Speaker 9: it's very good, very good. 430 00:22:50,800 --> 00:22:54,960 Speaker 2: Got up early for that compliment, got held up by 431 00:22:55,119 --> 00:22:56,960 Speaker 2: by a house this morning on the way to work. 432 00:22:56,960 --> 00:22:59,680 Speaker 2: You don't say that very often. It was a house moving. 433 00:23:00,040 --> 00:23:00,720 Speaker 5: Oh my goodness. 434 00:23:00,720 --> 00:23:02,680 Speaker 2: Those trucks they do just literally go down the middle 435 00:23:02,680 --> 00:23:04,800 Speaker 2: of the road. They do where we're coming from. This 436 00:23:05,280 --> 00:23:08,040 Speaker 2: was on Great South Throat heading towards Green Lane. So 437 00:23:08,119 --> 00:23:09,000 Speaker 2: they were fascinating. 438 00:23:09,000 --> 00:23:10,399 Speaker 9: Oh okay, so it took you about an hour to 439 00:23:10,440 --> 00:23:12,200 Speaker 9: get you because they go and good on them because 440 00:23:12,200 --> 00:23:13,200 Speaker 9: they've got to be safe. 441 00:23:13,320 --> 00:23:16,320 Speaker 2: Instead of thirteen Oh yeah, no, anyway, hey, look let's 442 00:23:16,359 --> 00:23:16,920 Speaker 2: get on with us. 443 00:23:17,000 --> 00:23:19,800 Speaker 9: Yes, so look the Minister of Auckland now he is 444 00:23:19,840 --> 00:23:24,360 Speaker 9: defending this anti crime fund being solely targeted for Auckland CBD. 445 00:23:24,520 --> 00:23:27,080 Speaker 9: Now Sime and Brown yesterday if you missed the sea 446 00:23:27,080 --> 00:23:29,159 Speaker 9: and now it's one point three million dollars, it's going 447 00:23:29,200 --> 00:23:33,000 Speaker 9: to go towards improved security measures across the city center. Now, 448 00:23:33,040 --> 00:23:35,520 Speaker 9: Brown says, the CBD's got to go to the CBD 449 00:23:35,680 --> 00:23:37,800 Speaker 9: because it's the gateway for visitors and it's got the 450 00:23:37,880 --> 00:23:40,480 Speaker 9: highest concentration of crime in the city. But as you 451 00:23:40,520 --> 00:23:43,760 Speaker 9: can imagine, other areas are not happy about this. Monaco 452 00:23:43,880 --> 00:23:47,200 Speaker 9: counselor Law two fully says, look, her area has got 453 00:23:47,240 --> 00:23:50,800 Speaker 9: the second highest concentration needs and that needs, you know, 454 00:23:50,920 --> 00:23:53,840 Speaker 9: to help tackle crime as well. So she's just come 455 00:23:53,840 --> 00:23:56,040 Speaker 9: out and see there's more to Auckland than the CBD. 456 00:23:56,160 --> 00:23:58,200 Speaker 9: But I suppose I've got to prioritize it. Thought they. 457 00:23:58,560 --> 00:24:00,320 Speaker 2: She's got a point though with it. 458 00:24:00,359 --> 00:24:03,000 Speaker 9: Today mainly fine apart from this morning. Cloud twenty four 459 00:24:03,160 --> 00:24:05,400 Speaker 9: is the high today, another day for a good ten. 460 00:24:06,840 --> 00:24:09,280 Speaker 2: Thank you so much for joining us, Nava. Where would 461 00:24:09,320 --> 00:24:12,000 Speaker 2: we we without you? Our next we're off the UIs. 462 00:24:12,080 --> 00:24:15,400 Speaker 2: Mitch McCann is with us. It is sixteen to. 463 00:24:15,359 --> 00:24:20,000 Speaker 1: Six International correspondence with Ends and Eye Insurance, Peace of 464 00:24:20,040 --> 00:24:21,720 Speaker 1: mind for New Zealand business. 465 00:24:23,119 --> 00:24:25,200 Speaker 2: It is quarter to six and Mitch McCann from the 466 00:24:25,280 --> 00:24:26,040 Speaker 2: UIs joins me. 467 00:24:26,080 --> 00:24:29,280 Speaker 8: Now, Good morning, Mitch, Good morning Francesca. How are you good? 468 00:24:29,359 --> 00:24:31,520 Speaker 2: Thank you? So Zelenski and Trump have talked over the 469 00:24:31,520 --> 00:24:34,600 Speaker 2: phone this morning. What do you know about the call? 470 00:24:34,720 --> 00:24:37,200 Speaker 8: Yeah, they spoke in the last couple of hours. Donald 471 00:24:37,240 --> 00:24:39,480 Speaker 8: Trump put a social media statement out saying that the 472 00:24:39,560 --> 00:24:41,800 Speaker 8: much of the discussion was based on the call Trump 473 00:24:41,800 --> 00:24:45,280 Speaker 8: had with Vladimir Putin yesterday in order to align both 474 00:24:45,359 --> 00:24:47,800 Speaker 8: Russia and Ukraine, and he added that we are very 475 00:24:47,920 --> 00:24:50,399 Speaker 8: much on track now. The White House is going to 476 00:24:50,440 --> 00:24:53,200 Speaker 8: put more information about this call with Zelenski out in 477 00:24:53,280 --> 00:24:56,240 Speaker 8: the coming hours. We do know Vladimir Zelenski will want 478 00:24:56,280 --> 00:24:59,719 Speaker 8: to know exactly what Vladimir Putin told Donald Trump yes 479 00:24:59,760 --> 00:25:02,920 Speaker 8: today their phone call when Putin agreed to this limited 480 00:25:02,960 --> 00:25:05,160 Speaker 8: cease fire. But we know obviously there is a lot 481 00:25:05,200 --> 00:25:10,159 Speaker 8: of distrust on zelensky side towards Russia. He believes that 482 00:25:10,200 --> 00:25:13,560 Speaker 8: he's already violated this limited seas fire and if there 483 00:25:13,680 --> 00:25:16,560 Speaker 8: is one going forward, he wants the US to monitor 484 00:25:16,600 --> 00:25:18,679 Speaker 8: it so they can keep an eye on the Russian 485 00:25:18,720 --> 00:25:20,560 Speaker 8: So we'll find out more about what was said in 486 00:25:20,560 --> 00:25:22,600 Speaker 8: that phone call in the next hour or so. 487 00:25:22,640 --> 00:25:24,320 Speaker 2: And hopefully we'll find out more about how we're going 488 00:25:24,359 --> 00:25:26,760 Speaker 2: to move forward, right, Yeah, that's right. 489 00:25:26,800 --> 00:25:29,280 Speaker 8: And we know that the officials from the US and 490 00:25:29,400 --> 00:25:32,680 Speaker 8: Russia are going to be meeting in Saudi Arabia next 491 00:25:32,720 --> 00:25:36,639 Speaker 8: Monday and Tuesday to discuss the technical details of a 492 00:25:36,720 --> 00:25:39,720 Speaker 8: partial cease fire. Things are looking good going forward, but 493 00:25:39,760 --> 00:25:41,520 Speaker 8: as we know with what we've seen in other parts 494 00:25:41,560 --> 00:25:44,399 Speaker 8: of the world, these things can fall apart very quickly. 495 00:25:44,920 --> 00:25:47,159 Speaker 2: Match It's also been reported the Pentagon is looking to 496 00:25:47,200 --> 00:25:49,119 Speaker 2: significantly reduce its workforce. 497 00:25:50,000 --> 00:25:52,720 Speaker 8: Yeah, this is the latest example of the US government 498 00:25:52,880 --> 00:25:57,040 Speaker 8: using this Department of Government Efficiency being run by Elon 499 00:25:57,119 --> 00:25:59,760 Speaker 8: Musk to cut jobs, cut tens of thousands of jobs 500 00:25:59,760 --> 00:26:03,920 Speaker 8: in the The latest agency is the Department of Defense, 501 00:26:04,000 --> 00:26:07,280 Speaker 8: and it's reported that up to sixty thousand civilian jobs 502 00:26:07,320 --> 00:26:10,080 Speaker 8: could be going there. But it comes at a bit 503 00:26:10,119 --> 00:26:13,280 Speaker 8: of a messy time because two judges have actually ordered 504 00:26:13,280 --> 00:26:16,160 Speaker 8: that some of the layoffs are illegal. Now the White 505 00:26:16,160 --> 00:26:18,840 Speaker 8: House is having to try and re hire twenty five 506 00:26:18,880 --> 00:26:22,400 Speaker 8: thousand of these people it already fired, so it's getting messy. 507 00:26:22,760 --> 00:26:25,359 Speaker 8: But the layoffs certainly do continue as they're on their 508 00:26:25,640 --> 00:26:27,520 Speaker 8: mission to shrink the size of the government. 509 00:26:28,400 --> 00:26:30,960 Speaker 2: Thank you so much, mtch appreciate your time this morning. 510 00:26:31,520 --> 00:26:34,800 Speaker 2: Of course, my costing breakfast will be across this Zelensky 511 00:26:34,840 --> 00:26:39,040 Speaker 2: Trump conversation. As Mitch said, we've only had limited details 512 00:26:39,080 --> 00:26:41,520 Speaker 2: about it, and I'm sure that they'll be covering whatever 513 00:26:41,560 --> 00:26:45,000 Speaker 2: else is released on that throughout the morning. It is 514 00:26:45,160 --> 00:26:45,800 Speaker 2: eleven to. 515 00:26:45,800 --> 00:26:49,120 Speaker 1: Six zibby right. 516 00:26:49,160 --> 00:26:52,600 Speaker 2: It's hoped we'll get confirmation today that New Zealand is 517 00:26:52,720 --> 00:26:56,040 Speaker 2: crawling out of its recession. The GDP number for Q 518 00:26:56,160 --> 00:26:59,480 Speaker 2: four last year is out this morning. Most economists are 519 00:26:59,520 --> 00:27:02,960 Speaker 2: picking a rise between point three and point five percent, 520 00:27:03,520 --> 00:27:05,560 Speaker 2: but that comes off the back of a one point 521 00:27:05,560 --> 00:27:07,879 Speaker 2: one percent and one percent drop in Q three and 522 00:27:08,040 --> 00:27:11,760 Speaker 2: Q two last year asb chief economist, and it toughly 523 00:27:11,880 --> 00:27:12,280 Speaker 2: is with us. 524 00:27:12,320 --> 00:27:12,560 Speaker 1: Now. 525 00:27:12,560 --> 00:27:14,080 Speaker 2: Good morning, Nick, thanks for your time. 526 00:27:14,720 --> 00:27:15,280 Speaker 10: Good morning. 527 00:27:15,520 --> 00:27:16,600 Speaker 2: What numbers are you picking? 528 00:27:17,680 --> 00:27:21,200 Speaker 10: We are picking a point three percent lift and that's 529 00:27:21,240 --> 00:27:23,159 Speaker 10: the same as the Reserve Bank, So I think you 530 00:27:23,200 --> 00:27:25,439 Speaker 10: had a good analogy there. It is crawling, particularly when 531 00:27:25,480 --> 00:27:27,920 Speaker 10: you put in that context of just how much things 532 00:27:27,920 --> 00:27:29,840 Speaker 10: slowed down during middle parts of last year. 533 00:27:30,640 --> 00:27:32,159 Speaker 2: So the fact that we're going to be out of 534 00:27:32,160 --> 00:27:35,080 Speaker 2: a technical recession, that's good news, but this growth is 535 00:27:35,119 --> 00:27:36,360 Speaker 2: still pretty anemic, right. 536 00:27:37,359 --> 00:27:39,160 Speaker 10: It is going to be a gradual recovery. I think 537 00:27:39,200 --> 00:27:42,000 Speaker 10: what we need to remember is that interest rates have 538 00:27:42,119 --> 00:27:44,680 Speaker 10: been falling for a little bit, but it hasn't been 539 00:27:44,960 --> 00:27:47,639 Speaker 10: until probably that fourth quarter of last year where we 540 00:27:47,680 --> 00:27:50,480 Speaker 10: started to see the average mortgage rate that people were 541 00:27:50,520 --> 00:27:54,560 Speaker 10: paying start to decline and start to actually impact on 542 00:27:54,640 --> 00:27:57,800 Speaker 10: people's cash flows. So we do see that we'll be 543 00:27:57,960 --> 00:28:01,359 Speaker 10: seeing those glimmers of light and consume the spending coming through, 544 00:28:01,480 --> 00:28:04,760 Speaker 10: which is a really really good start signaling recovery. But 545 00:28:04,880 --> 00:28:07,639 Speaker 10: we are really being saved over their quarter, assuming that 546 00:28:07,680 --> 00:28:10,240 Speaker 10: we do have a positive number by things like agriculture 547 00:28:10,240 --> 00:28:13,080 Speaker 10: where we had really great weather in the dairy season 548 00:28:13,119 --> 00:28:17,160 Speaker 10: in particular, had a really strong lift into Christmas. 549 00:28:17,359 --> 00:28:19,040 Speaker 2: Yes, So as you're taking a look at the sectors 550 00:28:19,040 --> 00:28:21,960 Speaker 2: which are on the improve, which ones do you think 551 00:28:21,960 --> 00:28:24,800 Speaker 2: we'll have given it a boost and which ones would 552 00:28:24,800 --> 00:28:28,320 Speaker 2: you sort of hope to see better performance from going forward. 553 00:28:30,240 --> 00:28:33,800 Speaker 10: Where we've seen some good time sort of coming through 554 00:28:33,920 --> 00:28:37,360 Speaker 10: it is dairy in the meat sector, so strong sort 555 00:28:37,359 --> 00:28:40,840 Speaker 10: of meat production as well, and despite what's happening in 556 00:28:40,880 --> 00:28:43,640 Speaker 10: the US for the time being anyway, they haven't given 557 00:28:43,720 --> 00:28:46,560 Speaker 10: up eating handburgers, which has really helped a lot. So 558 00:28:46,640 --> 00:28:50,000 Speaker 10: that's been good. That retail sector through spending, also being 559 00:28:50,000 --> 00:28:53,280 Speaker 10: helped by tourism, so expect those aspects to come through 560 00:28:53,800 --> 00:28:57,000 Speaker 10: and help us out. Where things are still looking quite 561 00:28:57,040 --> 00:28:59,560 Speaker 10: soggy is in construction, so we're still coming out of 562 00:28:59,560 --> 00:29:02,440 Speaker 10: the tail end of the impacts of the housing market 563 00:29:02,480 --> 00:29:05,480 Speaker 10: and more general properties slow down, so that sector really 564 00:29:05,520 --> 00:29:07,760 Speaker 10: struggling still in the short term. 565 00:29:07,960 --> 00:29:10,239 Speaker 2: You mentioned the glimmers. We all like a glimmer. How 566 00:29:10,280 --> 00:29:12,040 Speaker 2: long do you think it will take the country to 567 00:29:12,040 --> 00:29:14,400 Speaker 2: bounce back from the major drops last year, Are we 568 00:29:14,480 --> 00:29:17,480 Speaker 2: going to see a boom or much more of a 569 00:29:17,520 --> 00:29:18,080 Speaker 2: slow burn. 570 00:29:19,080 --> 00:29:21,479 Speaker 10: It's I think much more realistic if we look at 571 00:29:21,480 --> 00:29:23,240 Speaker 10: this as being a slow burn. It's going to be 572 00:29:23,400 --> 00:29:25,200 Speaker 10: I think a bit of a challenge to suddenly see 573 00:29:25,200 --> 00:29:28,880 Speaker 10: the economy rebound and recover two percent than the conditions 574 00:29:28,920 --> 00:29:31,160 Speaker 10: that we're facing. But look where we've got some good 575 00:29:31,160 --> 00:29:35,040 Speaker 10: tailwinds is those low interest rates gradually working their way 576 00:29:35,080 --> 00:29:38,480 Speaker 10: through this year, the good payouts that the farmers are getting, 577 00:29:38,680 --> 00:29:41,960 Speaker 10: the tourism sector picking up or working their way through. 578 00:29:42,320 --> 00:29:45,400 Speaker 10: And it's not obviously just about a dairy story. That 579 00:29:45,480 --> 00:29:48,520 Speaker 10: meets story as well starting to shine through. So look 580 00:29:48,560 --> 00:29:52,440 Speaker 10: at it as gradual recovery rather than sharp rebound. We're 581 00:29:52,440 --> 00:29:54,920 Speaker 10: going back to more normal interest rates sessions rather than 582 00:29:54,960 --> 00:29:57,440 Speaker 10: dropping to some really low level where we all can't 583 00:29:57,440 --> 00:29:58,280 Speaker 10: afford not to borrow. 584 00:29:58,840 --> 00:30:01,560 Speaker 2: Zer point three percent rise enough for the government to 585 00:30:01,600 --> 00:30:03,360 Speaker 2: convince us things are turning around. 586 00:30:04,640 --> 00:30:07,360 Speaker 10: Look, it's a really good sign if we get a 587 00:30:07,360 --> 00:30:09,960 Speaker 10: positive number that we are starting to crawl our way 588 00:30:09,960 --> 00:30:12,920 Speaker 10: out of what's been a really challenging time. But look, 589 00:30:13,000 --> 00:30:16,120 Speaker 10: the challenges is that with growth being relatively modest, we're 590 00:30:16,160 --> 00:30:20,360 Speaker 10: not going to be suddenly getting back to low levels 591 00:30:20,360 --> 00:30:24,320 Speaker 10: of unemployment that quickly as well. And look, the general 592 00:30:24,400 --> 00:30:28,560 Speaker 10: challenges that the government faces are still around getting productivity 593 00:30:28,560 --> 00:30:30,400 Speaker 10: back up after a number of years of it been 594 00:30:30,560 --> 00:30:33,320 Speaker 10: very very weak, and really focusing on what it can 595 00:30:33,400 --> 00:30:38,600 Speaker 10: do to enable growth, bring back the confidence, get people 596 00:30:38,640 --> 00:30:41,640 Speaker 10: making decisions that help the economies back up. 597 00:30:43,840 --> 00:30:45,080 Speaker 2: I was going to ask you what the risks are 598 00:30:45,120 --> 00:30:49,000 Speaker 2: for the economy to continue to grow. 599 00:30:50,640 --> 00:30:53,800 Speaker 10: Where we are most vulnerable and most countries are at 600 00:30:53,800 --> 00:30:56,960 Speaker 10: the moment is what's happening globally at the moment, mainly 601 00:30:57,000 --> 00:30:59,360 Speaker 10: around Donald Trump. And there's a few areas where that's 602 00:30:59,480 --> 00:31:05,480 Speaker 10: impact just simply all the going back and forth on 603 00:31:05,520 --> 00:31:07,800 Speaker 10: whether there's the tariff or not. The fact that he 604 00:31:07,960 --> 00:31:12,040 Speaker 10: is also hitting a lot of his allies with tariffs 605 00:31:12,400 --> 00:31:15,640 Speaker 10: is creating a lot of uncertainty, and certainty is not 606 00:31:15,920 --> 00:31:18,440 Speaker 10: great for making clear decisions. So there is that risk 607 00:31:18,480 --> 00:31:21,280 Speaker 10: to global growth of it being slowed by both the uncertainty. 608 00:31:21,520 --> 00:31:24,640 Speaker 10: And that's even before you get into the drag that 609 00:31:24,680 --> 00:31:27,600 Speaker 10: we could have if we get some quite widespread tariffs. 610 00:31:27,720 --> 00:31:29,360 Speaker 10: And we are also going to have to be mindful 611 00:31:29,360 --> 00:31:31,600 Speaker 10: when we roll round into April and we get our 612 00:31:31,680 --> 00:31:34,280 Speaker 10: report card on our trade practices, whether or not we 613 00:31:34,320 --> 00:31:37,520 Speaker 10: get directly impacted by tariffs as well. So biggest risks 614 00:31:37,520 --> 00:31:40,800 Speaker 10: seem to be coming from globally, whereas domestically, with interest 615 00:31:40,840 --> 00:31:43,840 Speaker 10: rates coming down, it's really a matter of time until 616 00:31:43,880 --> 00:31:48,120 Speaker 10: they start to work through and improve the economy locally. 617 00:31:48,440 --> 00:31:50,880 Speaker 2: So that Keith Q four numbers out at mid day. 618 00:31:50,840 --> 00:31:54,720 Speaker 10: Nick ten forty five is when we get those releases 619 00:31:54,760 --> 00:31:59,440 Speaker 10: coming through. So everybody tune into the radio ten forty five. 620 00:32:00,120 --> 00:32:04,479 Speaker 2: Order number it exciting day. Thank you so much, Nick Toushley, 621 00:32:04,520 --> 00:32:08,720 Speaker 2: their ASV chief economist. It is six to six. I've 622 00:32:08,720 --> 00:32:11,120 Speaker 2: got a surprise for you. Next you're with Early Edition. 623 00:32:11,760 --> 00:32:14,680 Speaker 1: The first word on the news of the day Early 624 00:32:14,880 --> 00:32:18,520 Speaker 1: Edition where one roof will make your property search simple. 625 00:32:18,600 --> 00:32:19,760 Speaker 1: The news talks that'd. 626 00:32:19,600 --> 00:32:22,600 Speaker 2: Be it is four to six. Look he probably heard 627 00:32:22,600 --> 00:32:24,560 Speaker 2: in the news we've been talking about stadiums this morning, 628 00:32:24,600 --> 00:32:27,240 Speaker 2: and something actually very special happened at Go Media Stadium 629 00:32:27,360 --> 00:32:29,960 Speaker 2: in Auckland last night, and that is that Sam Ruth 630 00:32:30,000 --> 00:32:33,920 Speaker 2: became New Zealand's became the youngest person in history to 631 00:32:33,960 --> 00:32:37,160 Speaker 2: break the four minute mile barrier. He's a fifteen year 632 00:32:37,200 --> 00:32:40,200 Speaker 2: old from Totonger, he's an incredible talent. But not only 633 00:32:40,280 --> 00:32:43,400 Speaker 2: was that pretty special, but also Ben Wall broke the 634 00:32:43,440 --> 00:32:45,600 Speaker 2: mark for the first time in three minutes and fifty 635 00:32:45,640 --> 00:32:48,080 Speaker 2: nine seconds. And the other really special thing about it 636 00:32:48,320 --> 00:32:51,480 Speaker 2: was that these two guys were paced by Olympian Sam Tanner, 637 00:32:51,560 --> 00:32:54,040 Speaker 2: who won the race. But the look on his face 638 00:32:54,080 --> 00:32:56,520 Speaker 2: when he realized that the three of them had all 639 00:32:56,520 --> 00:33:02,680 Speaker 2: come in, you know, under four minutes, was just wonderful. Anyway, 640 00:33:03,000 --> 00:33:04,520 Speaker 2: you know, there's going to be I know that a 641 00:33:04,520 --> 00:33:07,960 Speaker 2: lot of people are we expecting great things from Sam Ruth. 642 00:33:08,360 --> 00:33:10,720 Speaker 2: I hope he just feels his own way, takes his 643 00:33:10,800 --> 00:33:14,080 Speaker 2: time and just enjoys running. Still now, I said I 644 00:33:14,080 --> 00:33:17,200 Speaker 2: had a surprise for you this morning, and he has 645 00:33:17,240 --> 00:33:19,800 Speaker 2: just walked into the studio this morning. We are joined 646 00:33:19,800 --> 00:33:22,680 Speaker 2: by Ryan Bridge, who got a rather late call up. 647 00:33:23,200 --> 00:33:26,080 Speaker 2: I did, good morning, but I'm very grateful has turned up. 648 00:33:26,760 --> 00:33:27,160 Speaker 9: I'm here. 649 00:33:27,200 --> 00:33:29,960 Speaker 5: I'm here, so Mike is unwell today. 650 00:33:30,160 --> 00:33:32,320 Speaker 6: I'm going to be filling in for Mike throughout the morning, 651 00:33:32,400 --> 00:33:33,880 Speaker 6: so I look forward to chatting to you where I'm 652 00:33:33,880 --> 00:33:34,960 Speaker 6: going to chat to Sam Ruth. 653 00:33:35,000 --> 00:33:35,880 Speaker 2: Actually are you? 654 00:33:36,040 --> 00:33:37,280 Speaker 1: He's a man on a mission. 655 00:33:37,360 --> 00:33:42,320 Speaker 2: Give him a love, give him congratulations, he's amazing. So 656 00:33:42,440 --> 00:33:43,960 Speaker 2: Ryan Bridge is going to be with you. I'll be 657 00:33:44,000 --> 00:33:46,240 Speaker 2: back tomorrow morning. Have a great day. 658 00:33:53,640 --> 00:33:56,600 Speaker 1: For more from Early Edition with Ryan Bridge, Listen live 659 00:33:56,760 --> 00:33:59,680 Speaker 1: to news talks he'd be from five am weekdays, or 660 00:34:00,080 --> 00:34:01,720 Speaker 1: of the podcast on iHeartRadio.