Stephen Knight

OK, OK, Wayne, I'll call up my third friend.

I'll call up Emma and Vanessa from realestate.co.nz.

And they said to me, look, we can tell you what they sell for, but we can't necessarily give you data about whether they go up in value more quickly because nobody's really got the data on this.

Now, I'm always of the opinion that unless you can get the data, it doesn't exist, right?

Unless you can find evidence of something existing, it doesn't really exist in my mind.

Andrew, it's because they've been withholding that evidence for years.

I saw Roswell.

Is that what it was called?

Roswell?

I think it was.

Roswell?

Roswell.

I've seen that show, Andrew.

I know they're concealing the evidence.

But because these sorts of properties typically are bought by investors rather than mum and dad who want to move in with little Jimmy and little Sally, typically these properties are valued based on their rent.

And so as the rent increases, that's when an investor would pay more for it.

Because rents tend to lag behind house price growth, I've always been of the view that they increase in value more slowly.

Now, let's talk about some of the cons though to multi-incomes because they've got some really nice benefits.

What are the downsides, Andrew?

And I know we got some good data from realestate.co.nz for the first one.