Stuart Mitchell

Yeah, sure.

I guess the one last thing about Queenstown would be that obviously a lot of people look at the yields and what used to be the way in Queenstown was that, oh, you know, you're not going to make a... It's all about capital growth.

Your yields are horrendous.

And I can see, obviously, on your day-to-day, you've got Arrowtown at something like 2.3 yield.

But I guess if they're over $2 million median prices, then that's the issue.

So I guess the negative...

is the yield might seem very low, but the growth and the resilience has been there for you to be able to probably tolerate that.

And I think that medium to long term, as long as you're not just doing a spec and you can be a victim to short term market issues, you are always going to do very well and very strongly here in Queenstown.

You know, the future is going to be hugely bright here and it's going to continue to grow.

And people will be sat here saying, oh my God, it's so expensive.

One and a half, two million average.

Give it another five, 10 years.

You'll be like, oh my God, I wish I'd have bought something.

It will be that classic.

So look if you are.

Oh, 100%.

Yeah, and on that, obviously you've got to upset, there'll be more maintenance and yada, yada.

But if you're...

And some people might manage themselves or have somebody here that can kind of do a bit of management at a better price.

But you're looking at, and that's probably one of the issues here as well, is you've got 35 to 40% of the rental market is Airbnb.