Mark Lahini

So we kind of have a little bit of the Queenstown thing where we have huge

builds going on, like some people, like out at Tarahiri, you've got builds out there, like $20 million builds.

Wow.

And this is quite a common thing.

We also have a lot of builders coming from Auckland, all over the place, Christchurch as well, coming to Mangowhai.

There's plenty of building going on at the moment here as well.

And it's that area where the people who have money just are doing what they have to do.

a bit of like beer land and sections that are being opened up that are available to sell like you said about 500k but is there quite a lot of it still available or is it sort of restricted now yeah yeah no it's it's it's um a lot available and and there's going to be a lot coming on like in the next five months but another 500 sections coming on the market you know um our population at the moment permanence is like 7200

It might be a bit slow burn for a while with a lot of sections coming on and the uptake has not been as fast as what the developers hoped for.

I can remember talking about this back in 2013, you know, turning sections on the market and now they're all taken up.

There's, you know, buildings everywhere.

Yeah, so agents are excited about it, but they're getting sort of like few and far between.

Like, for example, Tiara Lynx and Tara Edie, they kind of have their internal sales teams working that are dealing directly with their contacts.

We're not... We had the odd...

four to five million dollar house going on but it's few and far between but okay the lower prices it's been a bit hard for some of the real estate agents at the moment um like under 1.5 million it's it's a bit of a slow burn for them but uh you know

Yeah, so very similar to Stuart, looking at clients where, yeah, it's just been really hard with what's happened over the last, us expecting rates to continually drop coming into Christmas and then with the last OCR reduction and then all of a sudden,

Rates move up and now we're revisiting that conversation with clients and seeing them as well.

We actually had clients locking in at 499 for five years before they went up.

So I found that that was their decision, which I went along with, but I was more in favour of the one to three year fixed rates and just splitting them up.

the population growth over that summer period just gets busier and busier and busier.