Nick Goodall

So, yeah, certainly an intriguing one.

We'll wait for Thursday and no doubt have a decent conversation about that next week.

Anything else on your mind from the economy perspective, Kelvin?

Yeah, cool.

Cool.

Nice one.

All good.

Well, I suppose the only other thing it leaves us to do is to just recap on the debt to income data.

We got a note from someone out there as well last week.

Thanks for the feedback on the debt to income data that is reported through the main channel through Reserve Bank.

doesn't include the exemptions.

So I think that's important because we sort of talked about, you know, investors being close to the kind of self-imposed limit the bank's put on, 5% below the actual limit.

But it turns out if you take the exemptions out and then do it as a percentage, that number comes down a bit.

So you've done a bit of work with this and had some correspondence with the Reserve Bank themselves.

Can you...

briefly, easily summarize where things are at, just so that we can sort of ensure that anyone else's interpretation is corrected much like ours was last week?

I think so.

I think when we talk about some of the potential impacts that would mean if we do see growth this year, which we do expect growth in house prices, that it won't be as strong because you've got things like DTIs, which will just limit what that growth rate might look like.

Now, that's not to say that's still not true, but obviously it does mean it delays when that actually might kick in, you know, if we're 11, not 15 already.

then of course that means that, you know, for the next few months, even if that trend continues up, there's still a bit more room to move.