Scott O'Neill

This is coming out of COVID.

So it's a lot better now than it was a couple of years ago.

But the prices are higher.

And if you do wait six months, not only will you miss that positive cash flow in the meantime, but

But you'd like they're going to be up against more people and paying more as well when that interest rate kind of cycle stabilizes.

It's sort of obvious to me as a commercial investor, because I look at the income, I look at the growth and basically look at the opportunity to add value.

I don't really see any of that in most residential markets because they've had such rapid capital

And now that interest rates have gone up, like it's a highly negatively geared situation.

So unless you're getting that capital growth day one, you're actually losing money in residential.

So you need strong growth just to stay ahead.

If you're buying a family home or something like that, that's different because you're not...

worried about the capital value if you can buy the house you want but because that's for your family for the rest of your life hopefully so different scenario but investors aren't seeing much value in the residential markets because there simply isn't as much as there was and now that the the idea of capital growth isn't going to be as strong for the medium term then a lot of people are just

greater stock versus supply ratio that's happening.

And we're not saying that with commercial because commercial investors aren't selling.

The only people I'm really purchasing properties from are divorce sales, fund managers who are selling down assets to get into bigger ones, or unfortunately, some death scenarios where they're just selling off estate.

So it's a very low stock market.

But residential people are getting forced to sell due to the higher rates.

So supply is the big difference.

And that's the reason why you're going to see greater falls.

And