Frances Cook

You know, if you're looking at someone like Remy Rader, that is extremely high property values in the first place.

So I'd love to know.

I don't have the figures there on what percentage that is, but it is eye-watering no matter what.

Yeah, I think there'll be a lot of investors hit by this and that's sort of, nobody ever wants to lose money, but that's sort of part of the risk when you invest, right?

So I'm somewhat less concerned for the investors who might be choosing to sell.

I'm more concerned for if it was a first home buyer who maybe was quite a low deposit investor

mortgage they will be hit really hard by this and they could be very worried and they won't have much margin for error so that's more the cohort that i worry in a moment like this

Well, yeah, it's quite interesting because there was also some research that came out earlier this week as well, talking about older generation who usually look to downsize, but also are not that interested in townhouses.

And so I do think there's a bit of a crunch point and we're seeing that now in terms of how we envision where we want to live and what people can afford.

What is interesting to me is we are now seeing properties come back on the market and they're selling a little bit quicker than they were before.

We've got figures from realestate.co.nz showing townhouses are selling average of 120 days at the moment.

Standalone houses, it's around 96 days on average.

And that is marginally better than things were before.

So we're getting a little bit of those signs of...

buyers and sellers coming into a bit more reality with each other.

I mean, let's not sugarcoat it.

That is still longer days to sell than things were before, but it's less bad than it was.

So I think what we're hitting now is a bit of a crunch point where things have become so expensive for so long.

People have held off

trying to make decisions either way, buying or selling.