Amy Poching

That's what they say.

And so you kind of just...

expect that to be true.

And I was like, okay, let's actually, I'm interested, let's have a look.

So I logged into REINZ where I have a subscription that I can look at data around property.

And we looked at the values of one bedrooms in Auckland over the last 10 years, and also looked at the values of two bedrooms in Auckland over the last 10 years.

And

And one bedrooms today are worth 18% more than they were 10 years ago.

And two bedrooms are worth 16% more than they were 10 years ago.

So sometimes what we believe to be true or what we think other people think actually is not the reality.

Well, I don't believe that your home is an investment, firstly, because... We'll clip that out.

Well, your home is not an investment because if you buy a home for $500,000 today and in 10 years it's worth a million bucks, it doesn't really matter because you're always going to need a home and a roof over your head and somewhere to live.

So even if it goes up in value, well, you're only going to need to sell that and buy another roof to live under.

When you reach retirement...

For most people going into retirement, the worst thing that they could, the worst position that they could be in is going into retirement without a home that they own, without a mortgage.

So I see your home, unless of course you're planning on downsizing, downvaluing that home at some point in the future.

Your home is just like one of those lifestyle assets that you have to pay for over the course of your life.

Yeah, it's very true.

And I was with someone last week who, that exact scenario, want to buy the commercial premise that they're in.

And they've just been telling me about how their business has been growing leaps and bounds over the last like seven or eight years.