Andrew

Now, Jason, my opinion is there's no such thing as an oversupply.

There's more of a risk of an overpriced market.

So people might have built something and they're just unrealistic about the prices.

Ed will talk about that in his video.

We talk about it in the podcast today.

But I think that, yes, there's been a lot of construction when development was going really well.

And then, of course, interest rates rose.

People got spooked off.

People might be a bit nervous at the moment.

So, yeah, there might be a bit more competition.

I really think it comes down to what you buy and where you buy it.

But also, it's not a case of...

that's not a market that satisfies a big segment of it because that's just not true.

Like if you think about Christchurch, for example, 25% of the entire market is townhouses.

And where have we seen growth over the last couple of years?

Christchurch.

So it's not that townhouses are forcing the market down.

That's actually just not the case.

But I can understand how someone would arrive at it.

But when you read into that article from Saturday's paper,