Nick Goodall

You know, the idea is that that flows through the economy as well.

So I think that's the reason for that optimism too.

But totally agree that it's taken some time and it hasn't probably flown through as fast as the Reserve Bank would have expected.

And yep, election year, no doubt.

you know, I think it's going to be really interesting to see how the campaigns go.

Does it look like it's going to be close?

If it looks close, then yep, I think the market will slow down a bit.

If it looks like a clear win to national-led government, then maybe things barrel on.

If it looks like more likely a turn, then again, you'd be more mindful of what sort of policy change could that mean.

So yeah,

Yeah, it's an intriguing one.

I'm sure we'll touch on it throughout today, but that's probably the headline figures I get to.

Tom, I think when we talk about mortgage affordability, that's been one of the other streams of conversation we've had lately, which is that according to our own cotality measures, affordability, particularly mortgage affordability, is back to long-term average.

Do you think that's the key thing that's going to have an impact on the amount of mortgages?

I know you're pretty close to that banking industry at the same time.

And investors are certainly a part of that.

But I take your point, Diego, that, yeah, depending on election result, maybe I'd maybe personally be slightly surprised if we saw a massive change in policy once again, if we have a big change in government.

But I suppose it's always a potential there, particularly, I suppose, with the Labour Party talking more about.

for something like a capital gains tax.

I suppose people would be mindful of that.