1 00:00:00,760 --> 00:00:04,440 Speaker 1: Three sixty with Katie Wolf. Join the conversation with Katie Wolf. 2 00:00:04,559 --> 00:00:07,480 Speaker 2: You are our eyes and ears in the Territory Mixed 3 00:00:07,520 --> 00:00:09,680 Speaker 2: one oh four point nine joining us on the line 4 00:00:09,720 --> 00:00:14,520 Speaker 2: right now. Master Builders NT CEO Dave Malone, Good morning. 5 00:00:14,200 --> 00:00:16,800 Speaker 1: To you, Dave. Good morning, Katie. 6 00:00:16,840 --> 00:00:18,959 Speaker 2: How are you very well now? Dave. I know that 7 00:00:19,000 --> 00:00:22,880 Speaker 2: it was announced yesterday this building and renovating in the 8 00:00:23,000 --> 00:00:26,480 Speaker 2: NT guide. It's been released released, I should say, as 9 00:00:26,520 --> 00:00:30,680 Speaker 2: a Construction Times surge. Tell us what this is exactly. 10 00:00:31,920 --> 00:00:34,559 Speaker 1: Well, it seems the Territory government has put together a 11 00:00:34,640 --> 00:00:37,240 Speaker 1: guide for people who are looking to build the next 12 00:00:37,280 --> 00:00:39,919 Speaker 1: new home or their new home and just pointing out 13 00:00:40,000 --> 00:00:43,040 Speaker 1: how the system works in the territory. One are the 14 00:00:43,040 --> 00:00:45,040 Speaker 1: things that people have got to look at, look out for, 15 00:00:46,159 --> 00:00:48,800 Speaker 1: and pointing people in the right direction to get further advice. 16 00:00:48,840 --> 00:00:52,440 Speaker 1: So it's a really good, you know, general information booklet 17 00:00:52,479 --> 00:00:52,880 Speaker 1: for people. 18 00:00:53,240 --> 00:00:55,240 Speaker 2: And I guess it's more on the on the side 19 00:00:55,240 --> 00:00:58,120 Speaker 2: of the consumer. So somebody who's who's building their home, 20 00:00:58,160 --> 00:00:59,760 Speaker 2: it gives them a bit of advice if it's something 21 00:00:59,760 --> 00:01:01,000 Speaker 2: that they've never done before. 22 00:01:02,120 --> 00:01:04,000 Speaker 1: I think so. I mean, we saw it for the 23 00:01:04,040 --> 00:01:07,479 Speaker 1: first time yesterday, like everybody else did, I'd say it's 24 00:01:07,560 --> 00:01:11,040 Speaker 1: good general information. With my fabelity fund had on, I'd 25 00:01:11,040 --> 00:01:14,520 Speaker 1: say there's probably some extra elements that we'd like to 26 00:01:14,959 --> 00:01:17,119 Speaker 1: put out to the community, some extra things for people 27 00:01:17,160 --> 00:01:20,200 Speaker 1: to think about, but which aren't in that booklet, which 28 00:01:20,360 --> 00:01:21,959 Speaker 1: I think will help people out a bit as well. 29 00:01:22,080 --> 00:01:24,240 Speaker 1: So probably what we need to do is just get 30 00:01:24,280 --> 00:01:25,520 Speaker 1: more information out to people. 31 00:01:25,959 --> 00:01:28,479 Speaker 2: And what are some of those things that you reckon 32 00:01:28,480 --> 00:01:31,839 Speaker 2: would have been good if they are included, Katie. 33 00:01:31,920 --> 00:01:35,000 Speaker 1: What we're seeing across the market, for example, is sometimes 34 00:01:35,080 --> 00:01:38,880 Speaker 1: new home buyers are being convinced by some builders to 35 00:01:38,920 --> 00:01:42,520 Speaker 1: sign side deals. So instead of all of the home 36 00:01:42,560 --> 00:01:45,959 Speaker 1: building contract being inside the contract, we end up with 37 00:01:46,040 --> 00:01:48,320 Speaker 1: two documents, one which is a contract and one which 38 00:01:48,360 --> 00:01:51,600 Speaker 1: is a side deal. And you know, I'd stand behind 39 00:01:51,680 --> 00:01:53,680 Speaker 1: ninety nine percent of the builders in the territory every 40 00:01:53,680 --> 00:01:55,840 Speaker 1: single day, but there is, like every industry, we have 41 00:01:55,840 --> 00:01:58,880 Speaker 1: a few people who push the envelope, and so I'd 42 00:01:58,880 --> 00:02:02,160 Speaker 1: say to people, only ever sign one document, and that 43 00:02:02,160 --> 00:02:05,639 Speaker 1: would be your contract, and it should contain every single 44 00:02:05,640 --> 00:02:08,920 Speaker 1: thing in it. I'd also say to people, if it's cheap, 45 00:02:08,960 --> 00:02:12,480 Speaker 1: it's cheap for a reason. So you know, like if 46 00:02:12,520 --> 00:02:16,280 Speaker 1: we buy anything else in life and it's really cheap. Well, 47 00:02:16,639 --> 00:02:19,400 Speaker 1: you're getting that as a result when the home's finished, 48 00:02:19,440 --> 00:02:22,400 Speaker 1: So think about that a bit. I'd really like just 49 00:02:22,440 --> 00:02:26,160 Speaker 1: to encourage homeowners as well to think about the end 50 00:02:26,240 --> 00:02:28,000 Speaker 1: stage of their home, because we know when the home 51 00:02:28,120 --> 00:02:30,880 Speaker 1: is just about to be finished, they're paying almost their 52 00:02:30,919 --> 00:02:34,360 Speaker 1: full mortgage, they're paying their ranks as well. Getting that 53 00:02:34,440 --> 00:02:37,560 Speaker 1: job finished is really crucial, so they should negotiate really 54 00:02:37,600 --> 00:02:41,000 Speaker 1: hard on arrangements about when the home will be finished. 55 00:02:41,600 --> 00:02:44,240 Speaker 2: Yeah, and look, you know, you're making such good points. 56 00:02:44,240 --> 00:02:47,560 Speaker 2: And as you said, ninety nine percent in the construction 57 00:02:47,600 --> 00:02:50,360 Speaker 2: and building industry do the right thing when they're dealing with, 58 00:02:50,440 --> 00:02:53,639 Speaker 2: you know, with home owners or home builders, especially though 59 00:02:53,680 --> 00:02:55,840 Speaker 2: when you talk about those first home builders, and for 60 00:02:55,880 --> 00:02:58,400 Speaker 2: some people if you've never sort of been involved in 61 00:02:59,200 --> 00:03:01,959 Speaker 2: a construction all in any way, shape or form, it 62 00:03:02,000 --> 00:03:04,560 Speaker 2: would all be quite confusing in a lot of ways. 63 00:03:05,880 --> 00:03:08,120 Speaker 1: I think it's hugely daunting, to be honest. I mean, 64 00:03:08,120 --> 00:03:11,280 Speaker 1: you're running a contract for three hundred and fifty thousand 65 00:03:11,360 --> 00:03:13,600 Speaker 1: or four hundred thousand dollars for your new home. It's 66 00:03:13,760 --> 00:03:17,720 Speaker 1: your single biggest purchase potentially in your life. And then 67 00:03:18,160 --> 00:03:20,280 Speaker 1: there's all the romance of building a home as well. 68 00:03:20,280 --> 00:03:23,920 Speaker 1: We can't miss that. So people are invested and in 69 00:03:23,960 --> 00:03:27,200 Speaker 1: love with their project, and sometimes they just don't take 70 00:03:27,320 --> 00:03:30,720 Speaker 1: enough precautions. It's easy to do. I think we've probably 71 00:03:30,720 --> 00:03:33,680 Speaker 1: all done it at some stage in our lives. We 72 00:03:33,800 --> 00:03:36,960 Speaker 1: just want people to be really clear minded and to 73 00:03:37,640 --> 00:03:39,360 Speaker 1: the old saying about it, if it looks too good 74 00:03:39,400 --> 00:03:42,800 Speaker 1: to be true, then it probably is. Just to keep 75 00:03:42,800 --> 00:03:43,920 Speaker 1: that in the back of their minds. 76 00:03:44,000 --> 00:03:47,200 Speaker 2: Yeah, very good advice, I reckon. And hey, speaking of 77 00:03:47,240 --> 00:03:51,800 Speaker 2: those new homes and homes being built and renovated, I 78 00:03:51,840 --> 00:03:54,000 Speaker 2: know that each well each quarter, I think it is 79 00:03:54,040 --> 00:03:57,000 Speaker 2: you do release the Fidelity Fund figures, which gives us 80 00:03:57,000 --> 00:03:59,360 Speaker 2: a bit of an idea how things are going. Talk 81 00:03:59,440 --> 00:04:01,880 Speaker 2: us through the stats. 82 00:04:02,320 --> 00:04:05,360 Speaker 1: Well, we've just got the stats today. Actually for May. 83 00:04:05,840 --> 00:04:08,240 Speaker 1: May was a good month for the residential sector. You know, 84 00:04:08,240 --> 00:04:12,160 Speaker 1: we've seen contracts signed for another forty or thirty nine homes. 85 00:04:12,160 --> 00:04:15,040 Speaker 1: I think it is which is really positive when you 86 00:04:15,080 --> 00:04:18,880 Speaker 1: think just how we went through that boom period you know, 87 00:04:19,000 --> 00:04:21,760 Speaker 1: over the from late last year to early this year, 88 00:04:21,800 --> 00:04:25,560 Speaker 1: with home Builder and build Bonus both punching along the market. 89 00:04:26,040 --> 00:04:30,200 Speaker 1: So the market is stabilized after those schemes are shut down, 90 00:04:30,680 --> 00:04:33,359 Speaker 1: and you know, people are continuing to walk into the 91 00:04:33,400 --> 00:04:36,920 Speaker 1: door of display homes and sign up for the contracts 92 00:04:36,920 --> 00:04:38,160 Speaker 1: for a new home. I think it's good. 93 00:04:38,279 --> 00:04:40,960 Speaker 2: Yeah, absolutely, So you said, was it thirty nine? Did 94 00:04:41,040 --> 00:04:42,720 Speaker 2: you say thirty. 95 00:04:42,520 --> 00:04:45,040 Speaker 1: Nine new homes? And remember that's just in the urban areas, 96 00:04:45,120 --> 00:04:47,880 Speaker 1: that's the area that we cover, so there'd be plenty 97 00:04:47,920 --> 00:04:50,880 Speaker 1: of other homes that have gone into indigenous communities for example. 98 00:04:50,920 --> 00:04:52,719 Speaker 1: So the residential sector is doing a bit of work 99 00:04:52,800 --> 00:04:53,240 Speaker 1: right now. 100 00:04:53,680 --> 00:04:56,359 Speaker 2: And what about when you talk of you know, the renos, 101 00:04:56,400 --> 00:04:59,200 Speaker 2: the renovations, Those larger ones are included in that, aren't they, 102 00:04:59,200 --> 00:05:01,560 Speaker 2: But those small all the ones sort of aren't obviously. 103 00:05:02,720 --> 00:05:04,919 Speaker 1: Yeah, the renots are holding up as well, some of 104 00:05:04,960 --> 00:05:06,960 Speaker 1: the numbers that we see months to month. You know, 105 00:05:07,320 --> 00:05:09,400 Speaker 1: some people love their homes a lot, that's for sure. 106 00:05:10,800 --> 00:05:12,920 Speaker 1: They spend a lot of money on it. But yeah, 107 00:05:12,920 --> 00:05:16,640 Speaker 1: the renovations are continuing. So you know, for us, that's 108 00:05:16,640 --> 00:05:18,680 Speaker 1: a really good sign that people have a lot of 109 00:05:18,680 --> 00:05:22,160 Speaker 1: confidence in the territory because you know, they're spending money 110 00:05:22,160 --> 00:05:24,360 Speaker 1: on a home they've already got. Yeah, and it's keeping 111 00:05:24,760 --> 00:05:27,240 Speaker 1: a good slice of the industry busy. As well. But 112 00:05:27,480 --> 00:05:29,920 Speaker 1: what's really surprising us when I talk to the people 113 00:05:29,920 --> 00:05:32,080 Speaker 1: who've got showrooms, you know, the people who've got the 114 00:05:32,160 --> 00:05:34,800 Speaker 1: nice gears for the new Venot, they all tell me 115 00:05:34,839 --> 00:05:36,400 Speaker 1: there's plenty of people coming through the door. 116 00:05:36,680 --> 00:05:39,600 Speaker 2: That is good to hear, and Dave, I know that anecdotally, 117 00:05:39,640 --> 00:05:41,880 Speaker 2: there's sort of been a lot of discussion around Australia 118 00:05:41,920 --> 00:05:44,039 Speaker 2: about the fact that, you know, plenty of people aren't 119 00:05:44,080 --> 00:05:47,320 Speaker 2: able to travel overseas, they're modifying the way in which 120 00:05:47,320 --> 00:05:50,479 Speaker 2: they're living. I guess because you know, we're spending maybe 121 00:05:50,520 --> 00:05:53,880 Speaker 2: more time at home than what we previously had. You know, 122 00:05:53,960 --> 00:05:57,440 Speaker 2: there's discussion about more people buying new cars, buying boats 123 00:05:57,480 --> 00:05:59,520 Speaker 2: and things like that, but are you seeing more people 124 00:05:59,560 --> 00:06:01,160 Speaker 2: spending money on their homes. 125 00:06:03,360 --> 00:06:05,480 Speaker 1: I don't want to promote anyone in particular, but turn 126 00:06:05,560 --> 00:06:07,440 Speaker 1: up to Bunnings on a Saturday morning and see what 127 00:06:07,480 --> 00:06:10,200 Speaker 1: it's like. You know, it's you know, I'm still getting 128 00:06:10,200 --> 00:06:12,400 Speaker 1: my sausage when everybody else is flying through the front 129 00:06:12,440 --> 00:06:14,720 Speaker 1: door getting their gear for their home. So yes, there's 130 00:06:14,760 --> 00:06:17,320 Speaker 1: no doubt at all that right across Australia, it's not 131 00:06:17,360 --> 00:06:21,240 Speaker 1: a territory thing. It's everywhere. People have decided if I'm 132 00:06:21,240 --> 00:06:23,200 Speaker 1: going to spend this much time in my home, well 133 00:06:23,200 --> 00:06:24,760 Speaker 1: I'm going to do a bit of work on it. 134 00:06:24,800 --> 00:06:27,839 Speaker 1: So yeah, there's been a crazy that sort of self 135 00:06:27,839 --> 00:06:29,320 Speaker 1: renovation going on as well. 136 00:06:29,440 --> 00:06:33,360 Speaker 2: Yeah, and Dave, we caught up obviously after the territory 137 00:06:33,360 --> 00:06:35,440 Speaker 2: budget was handed down, But I know I've caught up 138 00:06:35,440 --> 00:06:37,599 Speaker 2: with Quintin Kelly and a couple of times as well 139 00:06:37,600 --> 00:06:39,960 Speaker 2: from the Real Estate Institute, and he was a bit 140 00:06:40,000 --> 00:06:42,320 Speaker 2: he's certainly a bit worried that there are some changes 141 00:06:42,360 --> 00:06:46,480 Speaker 2: to some of those first home buyer schemes. Has that 142 00:06:46,560 --> 00:06:49,000 Speaker 2: had much of an impact across the board over to 143 00:06:49,080 --> 00:06:53,120 Speaker 2: you guys in the construction industry, Well. 144 00:06:53,000 --> 00:06:55,560 Speaker 1: I think Clinton was right to be fair for him. 145 00:06:55,800 --> 00:06:58,320 Speaker 1: And you know, when you have a bunch of incentives 146 00:06:58,360 --> 00:07:01,279 Speaker 1: in place which are encouraging people who put roots down 147 00:07:01,279 --> 00:07:04,280 Speaker 1: in the territory and then they're removed, and they're removed 148 00:07:04,279 --> 00:07:07,400 Speaker 1: in the way that they were without transition, then you 149 00:07:07,440 --> 00:07:10,640 Speaker 1: know you're going to expect some ramifications from it. It's 150 00:07:10,640 --> 00:07:13,120 Speaker 1: probably too early to tell what ramifications we're having in 151 00:07:13,160 --> 00:07:17,080 Speaker 1: the market right now, but it seems crazy to me 152 00:07:17,200 --> 00:07:20,239 Speaker 1: when the goal of the territory is to get first 153 00:07:20,240 --> 00:07:23,160 Speaker 1: home buyers to buy homes and to choose the territory 154 00:07:23,200 --> 00:07:25,640 Speaker 1: as a place to live today, tomorrow and well into 155 00:07:25,720 --> 00:07:28,720 Speaker 1: the future. And then we chop and change how we 156 00:07:28,720 --> 00:07:31,480 Speaker 1: put the incentives in place. And people will say to me, 157 00:07:31,560 --> 00:07:34,280 Speaker 1: I will that's because the market's a little overheated and 158 00:07:34,320 --> 00:07:36,840 Speaker 1: we don't want to overheat it some more. And I 159 00:07:36,880 --> 00:07:40,400 Speaker 1: get that, except there's a vacuum after that. I really 160 00:07:40,440 --> 00:07:42,320 Speaker 1: think we've got to have a long term strategy, which 161 00:07:42,360 --> 00:07:45,240 Speaker 1: says you and I and everybody else, the best thing 162 00:07:45,400 --> 00:07:47,360 Speaker 1: that we can do is keep us in the territory, 163 00:07:47,440 --> 00:07:49,320 Speaker 1: and the best way of doing that is to get 164 00:07:49,320 --> 00:07:50,240 Speaker 1: people to buy a home. 165 00:07:50,400 --> 00:07:53,520 Speaker 2: Yeah, very true. Anything else we should be aware of today, Dive. 166 00:07:54,920 --> 00:07:57,000 Speaker 1: I'm looking at the window right now and I'm just 167 00:07:57,040 --> 00:07:59,360 Speaker 1: waiting for all those military guys to take off again 168 00:08:00,080 --> 00:08:03,280 Speaker 1: thirty five to give it a rip other than Matt Cody. 169 00:08:03,320 --> 00:08:04,000 Speaker 1: All pretty good. 170 00:08:04,080 --> 00:08:06,120 Speaker 2: It gets pretty noisy out there, doesn't it. As they 171 00:08:06,120 --> 00:08:06,680 Speaker 2: fly over. 172 00:08:07,680 --> 00:08:09,520 Speaker 1: It's making it hard for me to do zoom meetings. 173 00:08:09,560 --> 00:08:10,400 Speaker 1: I can tell you. 174 00:08:11,280 --> 00:08:14,640 Speaker 2: Good stuff, Dave Malone. Always good to catch up with you. 175 00:08:14,680 --> 00:08:16,360 Speaker 2: Thank you so much for your time this morning. 176 00:08:16,560 --> 00:08:17,080 Speaker 1: Have a good day. 177 00:08:17,120 --> 00:08:20,880 Speaker 2: Thank you too. That is master Builders NT Chief executive 178 00:08:20,960 --> 00:08:21,800 Speaker 2: Dave Malone. There