Nick Goodall

Anything else triggered in your mind there you wanted to cover off?

Otherwise, we can sort of chat about the big cotality data report released last week.

Yeah, absolutely.

I think it's been one that we've always sort of waited and watched to see some significant change with, and it's never really come right, particularly in the last two or three years, as property values have gone sideways.

I think it just illustrates that, yes, while the market's not going well and people aren't feeling great and they're not spending money,

they are prioritizing their mortgage and so they're still managing to make that work.

Even if the value's gone down, your mortgage doesn't go up in value.

Yes, the LVR might increase, but ultimately, you do whatever you can to pay your mortgage off.

And even though we've seen unemployment rise, it hasn't been super, super bad.

I don't wanna underplay it either, but again, it's been like lots of vacancies that haven't been employed.

You know, and we've seen obviously growth and demand for jobs as well.

But actually the amount of people losing their jobs, which then means they can't afford to pay their mortgage and they're desperate to sell and mortgagee sales and all these things.

Like there really hasn't been that significant pain.

Again, I don't want to underplay.

I know it's been tough out there for plenty of people as well.

And there'll be some people that, you know, haven't done it easy.

But like I say, from those measures of, you know, tracking,

you know, people missing payments and mortgage e-sales and things.

We just haven't seen the same holding out of the market as we have, say, in the global financial crisis when, yeah, mortgage e-sales were way higher and non-performing loans were way higher and job losses were much greater as well.

So, yeah, I just think, you know, while it's been, it's hard to say it hasn't been that bad when you see the decline in property values across some parts, especially, you know, Wellington down 25 odd percent still.