Andrew Nicol

speaker

331 appearances 1 recordings 1 series first heard Jun 2026 last heard 21 Jun

Andrew Nicol’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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The Prosperity Project · Prolific investor says property isn't dead · 21 Jun 2026 podcast

I do understand that argument.

So if you're kind of modelling out and you want to be really conservative and you thought, okay, let's imagine that everyone only ever pays a higher price based on their income.

Income growth in New Zealand, I think it's somewhere around like 4.5%, 4.7%.

So if that was the growth that someone was getting, I think,

people are pretty happy with that over the next 10 years.

So you might do your modelling on that or even 4% or something like that.

But the other thing to remember is most people haven't exhausted their debt to income ratio level.

I think we're, as a nation, we're around two and a half times borrowing.

Now, some people will have no mortgage and so that will skew the numbers a little bit.

But as people earn more money and then they've got more lending ability because interest rates might have come down a bit or maybe they're

they've returned to work after having a child and all of a sudden they can afford more of a house, that emotional factor comes into play.

And the odd thing about houses compared to other assets, we tend to get an approval from the bank and then we go shopping for that amount.

We tend to just spend the maximum we possibly can, whereas imagine if you did that with a car, right?

You find out how much you can borrow to get a car, everyone would be driving around in Lambos.

Yeah, I remember this from the GFC.

When you're topping up a rental property and the house price is staying the same, or even worse, going down, it can feel like you're just an idiot.

You're putting good money after bad.

And probably at least a third of our meetings at the moment will be with existing clients saying, you have to stay the course.

This is just part of the process of holding for the long term.

It's interesting because often, because we use the term negative gearing when something's requiring a top-up,

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