You're listening to the Weekend Collective podcast from News Talks Ed Bassure.
Yesterday was bad.
And welcome back to the Weekend Collective. It is time now for the One roofe radio show. We want your calls. We'd love to have your participation on one highty ten eighty in text on nine two nine two, And today my guest is from Velocity with an A at the start and her name is Hello Sullivant, Hello Helen, how are you going?
Good tim? I am great to thank you? How are you?
Very good things and just explain a little bit for those people who will have heard of Velocity about what you guys do.
Yeah, Velocity is a quibi o proptic that provides a lot of valuation ordering and management software for banks. And we also have a new product called Velocity Nexus which we provide to the real estate industry, which is a property research tool that real estate agents use to assess and research their markets.
And so for the average punter, what would they use for them?
For the average we don't have a consumer offering, but what we are providing is parwering real estate agents. And indeed, the one roof website is kind of kind of what.
Brings me here, Tim, That is fantastic because we love the one Roof website actually on the velocity on the value side of things. So the first thing we want to have a chat about is that, were you surprised that trade Me data shows that rent prices are for the first time in a couple.
Of years, not surprised to see that that market is definitely softening. Yeah, all my sources are telling me that the rental market is definitely a lot softer than it has been. Demand as low. I mean, that's normal for this time of year anyway for some peculiar reason, and Auckland people don't like shifting their stuff in pouring rain. Go figure. Yeah, it's definitely softer than usual.
It did surprise me because I think until recently the immigration figures had shown this massive number of people who are leaving and of course we're sort of importing people to make up for that, but in fact, sorry, a massive number of people still arriving as well. We had in the past year some amazing immigration stats. But it does surprise me that that hasn't well, it hasn't equated to one a rise in property prices or rents, but
in terms of the rental price drop. How much of that has to do with government policy because well, for instance, the lack of deductibility was obviously to me a factor in putting rents up, because you make it more expensive to be a landlord, you're going to pass that on. But is that a factor at all or not yet?
I don't really think so, because the thing with rent is that it's not really set by the costs that the landlord is experiencing. It is mainly driven by the market and what is achievable for that property. Most rental properties do actually run out a cash loss.
Okay, well, how about this then? Is the market driven by the fact that overall for all landlords it was more expensive too, you know, you couldn't deduct as much. So is the market influenced by policies like that? And we don't worry people, We're not going to make this a discussion abound whether deductibility and text ductibility and all that sort of thing is a good thing or not. But I mean, if you take a macro view.
Look, my macro view is my my experience of the market, is that what landlords is, what is achievable in revenue and rent is very much driven by the supply and demand as opposed to input prices, which is where the deductibility or otherwise comes in.
Okay, So when they're talking about a drop in rental prices, I guess that is we're not seeing people haggling their rents down yet, are we? Would that be just as new listings come up. We've just noticed that the average price of new listings for rental is slightly cheaper.
Now, I think it's more. Number one, we're not saying rents continue to go up as they had been doing. And number two, you if you spent a lot of time monitoring rental sites, as geeks like me do, you will see properties that have been on the market for some time starting to drop in price. And then when a new when new stock comes to market, they landlord will probably managing when they're setting the rent We'll look at what's being advertised around the area and in that space,
and they'll set their price accordingly. Yeah, because there's no point in you know, it's surprising how price sensitive the rental market is. If you overprice a rental property by twenty or even twenty dollars, you will find that you don't get inquiry for it.
Actually, by the way, we should give these stat actually, just because when you hear that rentals have dropped, it makes you think, oh wow, how much. But it's a month on month looks like it's a five dollars a week drop to six hundred and forty five bucks, So
it's it's hardly plummeted or anything. But I guess it's just a relief to people who are renting or looking to rent that it's not this crazy market where you know, you've got to go bid against it with other people and or guess what, you know, another fifty bucks will do it more.
Than anything else. It's preferable to find yourself at an open home with a horde of people, which I remember doing in my bad old days renting, and you'd turn up and there'd be fifty people standing outside the open home.
You go, oh my god, Actually, actually I do. I only remember that because when we rented, we bought the place that we were renting. But when we rented it and we had a couple hundred meters from Saint Helia's Beach, and there was no one interested in looking at it because it was an old it was old like the day course you know, sort of that sort of eighties pink sort of car.
Yes, oh gosh, avocado.
It was all pretty pastal and it was pretty dated and all that. But the agent it was well priced, but it was well priced, but no one was looking. Literally, I didn't have to burd against anyone. No one was looking at it. And I think I made an offer for a bit cheaper than it was and the agent said, yeah, sure, And I mean it was the best news ever. But of course then you go forward ten years or something
and it's just it went nuts. What sees do we ever have a sort of balanced market where maybe you've got three or four in parties, it's not sure. What is the happy medium? Do you think? Well, actually, the happy medium depends on whether your renter, because the happy medium for a renter is you're the only one interested and it's nice and cheap. The happy medium for you as a landlord is you've got people you know, fighting to get the property, and more.
Than anything else, you're keeping your you're keeping it occupied. I mean, one of the things that we the counsel that I always used to give landlords who you're wanting to hang on for a higher price, it takes a lot of weeks at twenty or thirty dollars a week extra rent to pay for three or four weeks of vacant occupation, and so you are far better to meet the market in terms of the rental price and get the property occupied.
Actually that's not because that's quite a useful thing for rents to bear in mind and remark like this. Then that because if a property's been sitting vacant for a couple of weeks and you're offering, say twenty bucks less, it's worth make an offer. I mean it's worth that because it's like trying to.
Buy a house. You don't necessarily pay the asking. You'll make an offer, so you know, you might get knocked back. But how much does know who?
Well, look at it this way, if it's.
Doesn't cost you anything to get to know.
For instance, if it's six hundred and fifty bucks and you're thinking, you know what I'm going to ask, offer them six one hundred and I don't know, ten or twenty. I mean that's quite a few weeks that they would have to make up for it. I mean, if they had another couple of weeks vacant, that's probably worth the landlord thinking, oh, you know what, you're a good tenant.
You look reliable, Bengo, it's yours absolutely, and the same when you've got tenants who are in situ and you're looking at written rises. As a landlord, way better to retain a good tenant than try and squeak an extra at ten to fifteen dollars out of it and loser a good sitting tenant. Have a few weeks back.
We'd love to have your cause on this on how you go about negotiating your rent when you're looking for a property. But would you ever here's here's the big one, and I don't to be honest, I'm not sure we're really in this territory yet unless you are overpaying, unless you're one of those tenants who I don't know, for some reason, you look at your rent and you're going, wow, we're paying way too much. Have you ever negotiated a rental decrease? Have you ever back in your rental days?
If you've always Once you're in there, you're sort of like, oh, well this is my budget, just keep paying.
Yeah, well, I look.
We've seen it happen, particularly when a property's value is compromised. You know there's road works going on outside, or all the buildings is under renovation, or you know, something's something major happens. You know, we saw quite a bit of it during post pandemic, when you know, particular in the
inner city there's a lot of vacancy. People who reached the end of the e fixed to take a look at trade me and go, karke place underneath me is one hundred bucks cheaper than what I'm paying, and that's a valid mart You know, ultimately, when it comes to rent, you can appeal to the tendency tribunal and then and say this is not market rent that I'm being changed, and then you know, then it all comes down to the evidence. What are some of the properties so renting
for around you? And it's pretty easy to find that stuff on all the websites because.
These days, actually I was thinking in the older days, where more landlords manage their own rentals, that would be a more awkward conversation, isn't But these days most I mean, what do we know what proportion of properties are managed by property managers?
That data always used to say it was thirty to forty percent. We're managed by property managers, And you know, sort of sixty to seventy percent where self managed. Really, I suspect things have changed, but it's really hard to get a sense of what the you know, there's no market share data that you can kind of reliably get. But kiwis are very we're good deal. Oh wire is right and in property management as much as anything else.
That actually surprises me. But I guess because every I think just about every expert that we've had or commentator we've had in the studio when it comes to property investment, the question around who should manage your property has almost resounding I would say ninety five percent of the opinion is that if you don't, if you just get someone else to do it and avoid yourself a whole world of headaches unless you are really really seasoned, have the time to do it and the expertise, and you just
grate at it.
Look, I'd totally agree, it's an incredibly complicated business these days. You know, there's a lot of compliance and ultimately you're in business, so there's a number of things that you have to comply with, and my personal preference has always been to pay someone else to work that stuff out for me and take those you know, so that when the sync overflowers or the toilet blocks on a Saturday after no, I don't get the phone call.
Yeah, actually, on that thing about if you are if you do think you're in an apartment or a house where you are paying too much, look the first price.
The first step would be surely to talk to you wouldn't go to the tendency to no, you wouldn't start. I mean that's pretty I don't know a blunt instrument, isn't it. So you talk to the landlord of the letting agent and just say.
First I gather the evidence, so you know, as opposed to just going might reckon? Is I reckon I'm paying too much? What are some of the properties in a similar condition renting for around where you're living? Sometimes it's really hard to find comparables. You know, you might have the penthouse apartment, you might have the sort of the dark thing on the corner on the corner of the block. But there will be something. There will be There's always data on on websites. One roof it has a great
mental set as well. Take a look at it and see what some of the properties are renting for. Start with data. As always, always my default position.
Yeah, because I thinking if you're renting a house, the comparisons are probably a bit more tricky, isn't it, Because you could be a house on the same street. You could be a three bedroom house on the same street along with another three bedroom house, but you know, one house might be I don't know, brand new bathroom, freshly decorated, all that sort of thing. It's not so straightforward, is it.
It's not straightforward, and that's why data and judgment comes into it.
And Okay, so you've had a chat with the landlord and the letting agent and they've said, no, no, we're not prepared for just the rent you signed up to it. That was the market, and that is the market. If you decide you want to take that further, then what it is the tend to.
Be in is it?
Yeah?
And so what's involved with that?
Then filling in lots of forms, waiting your turn for a hearing, attending the hearing, presenting your evidence. The landlord or the leading agent would debtend the hearing as well, present their counter evidence, and adjudicator listens carefully, blimey, and then make the decision do.
You have to actually turn up to the tenth stritripunal in the flesh or is it done sort of, there's a lot more of it.
It's done remotely. They discovered that little handy technique during during the pandemic, and then we went, why don't we do this all the time. It's kind of a lot easier and it's a lot less confronting.
Actually, yeah, I imagine that would be, because that's half the thing. You take the heat out of it. When you've got an adjudicator who's down the phone line.
And everyone has to be can be a lot more complicated though in terms of because sometimes there's a lot of paper we're involved and you know, here's my copy of this, and you know, so, yeah, it can be more complicated, and you've you've got to be really organized, and you've got to be good at making your case. The adjudicator is a pretty good at being balanced. You know that they're accustomed to having a bit of everything come before them. You get some interesting decisions out of
them occasionally. But I can couldn't cut both ways. Really.
Yeah, Look, we'd love to hear from you, just if you are a renter, or actually even if you're a landlord. Actually, have you ever been asked for a reduction, and what's your approach being to it. What's the best way to negotiate your rent? If you think that maybe you've got a bit of a room to wiggle, or because I think if you look, if you make a cheeky offer, then see you later. So I think there's no such thing as there wouldn't be any point in making anything
other than a reasonable offer. But you can add your comment on that, Helen. Just as the music playing before we go to the break, A big.
Fan of the reasonable offer me.
Okay, we'll be back in just a moment. It's twenty two past four News Talk z B inside a clean instance.
Thinne and welcome back to the Weekend Collective.
This is one road you show what your calls on eight hundred eighty ten eighty or text nine two nine too. We're talking about how do you go about negotiating a rent reduction? Look, possibly it's not the easiest game to play right now, given the rents have gone down, but just to put it in perspective, only five bucks to six hundred and forty five a week. But you might be one of those ones who you know on a
six hundred and forty five property. You're you thought I wouldn't need the property and you're paying seven hundred bucks. You want to have a chat with the landlord about it? How do you go about it?
Oh?
Eight hundred eighty ten eighty right, let's go to some calls Rod. Hello, I can't hear Rod for some reason, so we just need to hound right, right, So I just start again. Sorry, we just had a right block.
So I've been alan ord, been there for some time, well aware that much rather have my properties tenanted. The losses that you do between tendencies, between tendencies cannot be quite significant, particularly compared to any rein increase that might be achieved. So I have very good tenants and one on one properly owned. They had been there for over two years, and they wanted to do some things, mind
the things inside which I'm entry to do coming to them. Okay, that's fine, but we need to look at the rent and so my sugistan to them was you have a look at rents in the area, what you think you can pay, and then we'll talk about So two or three weeks later they said, okay, we thought about it. We think we can afford thirty dollars a week. I had in mind that I was going to ask for forty dollars a week.
Well, this is a non crise.
You're talking about an increase. Yeah, that they were aware that, you know, there's been signaltt increases in terms of insurance and rates. So I said, okay, if that's you're comfortable
with that, then I would accept that. Thank you. I thought they were very lucky because pretty soon after that I would monitor Bodom lodgment with Bond Center, which has got to be an indication of current rents, and at that point the property was in number of bedrooms, et cetera in that area another forty dollars, so forty plus
thirty seventy dollars more right rents in that area. So they were lucky to negotiate a reasonable price quickly and therefore avoid me reviewing it at an even higher amount, which I thought would have been equitable market.
I guess it's sounded like it all went reasonably well as a negotiation because you both were trying to understand each other's position.
Is that right correct?
Yeah?
I mean I don't I know others who think they should put in every year. I don't see what it is. Certainly in terms of the costs that have come through Untald, nothing that's in my control in the last three through three or four years, saying that the rents are significantly low compared to we started out.
Yeah, Actually, you know the question that comes out of all this in a way, and you've probably reflected that a bit by accepting a lower increase than you're looking for. How much is a good tenant actually worth? How do you quantify? I think that's the that's the big question, because I think much more it's a lot.
Isn't it much more than trying to squeezed another twenty or three dollars we out in one go. The time, in my opinion, to go to a bit harder with read is when a tendency changes. And I've said that there's a costly process changing tenancies.
Actually that is that is I think through that call with Rod Helen, that is the question, isn't it? Because all it boils down to is what is a good tenant worth? And if your property is something that's quite precious to you and you don't want to have to worry about chasing people for the extra costs of repairs or something, or what is a good tenant worth?
That's well, a bad tenant can be catastrophically expensive, But it comes down to whether or not do you think there's another nice fish in the sea. How hard or easy is it to find good tenants? And that's an interesting it's a question that Tony Alexander asked and his regular column which is published on one where you know, they ask how asked land to rate how much easier is it to find good tenants than it used to be?
And they you know, the negatives outweigh the positives, And at the moment more landlords are saying it's harder to find good tenants than I think we've seen in that reading for a while.
Actually, yeah, And I mean it's a very broad question is what is a good tenant worth? Of course, but it depends on the property and the rent and all that sort of thing. But I guess how many weeks rent is a good tenant worth? In terms of negotiating, you know, if you're looking like if I'm going to I mean, I don't know how you budgets as a landlord. As an investor, some people will budget on the idea that they're going to have it tenanted fifty two weeks of the year. But that's alltalistic.
Yeah, you've got to expect to have a couple of weeks, but you've got to budget your numbers on having at least a couple of weeks. Wagon If you don't have that, then great, that is that's an upside, but you know you've got to anticipate that. Therefore, you know, if you think you might have up to two or four weeks rent, that's what a good tenant, that's what a good home occupy is worth to you. A couple of weeks to or three weeks rent.
Yeah, so, and of course it depends on the market. But if the problem is finding a good tenant, then then I yes, yeah, there's some room to move and you and you would happily move if you think you can get someone in there for a while.
Yeah, Like a good property will generally always rent if it's well kept and desirable. But there is again, having had tenants over the years, I will go a long way to keep a good tenant and a property. And we saw it during the pandemic the business hose running at the time. We had loads of occupiers who had to come to us and say, you know, it's lockdown. I've got literally six dollars left after I pay the rent.
Is there anything the landlord can do? And one hundred percent of the landlords we went to came to the party, and we're generous and human and made generous offers, looked after their tenants. I think I thought was showed the caliber of New Zealanders.
And I think I also think that it's good to hear that that's the bulk of the behavior of everyone, because a lot of the time, well I think that because you get so much contentious stuff introduced all in the name of politics, and you can look at other issues in society, including race as well, but it seems that that a lot of the time, the conversation seems to want us to decide who are the baddies and who are the goodies, when in fact, you know there are bad people in life on every in every every
part of the spectrum, but the average. In fact, that's almost a good argument for having a landlord who you have a direct relationship with, because if you are a good tenant, then you are having a tough time and you talk to that landlord, then the human relationship is probably the one that wins out, isn't it.
Yeah, I would hope.
That the good property managers would do the same and would actually advocate for a good ten in those circumstances as well. And maybe I'm barst having run what I think was a good property management business. We're used to do promoters net promoters care surveys with our home occupiers, and resoundingly you had something like a thought an incredibly high rating from the people who are occupying the homes we managed because we saw them as our customers.
Well. Actually, the other thing is as a property manager, I mean you are having a lot more to do with the people who are in the property and the person who owns it with both.
Yeah, you do, you do. If you're doing a job properly, you're communicating with both sides of the equation. But you have customers and your customers customers, and it's critical they actually have a good relationship with both of them.
You're welcome to give us a call on that if you've got any If you've you've got your reckons on how you approach making sure that you're paying the right rent or receiving the right rent. If you're a landlord, I guess once you've tenanted it. One of the rules around are you.
Only able to do that the twelve months?
And where all wet with the.
Sorry a maximum of a minimum of twelve months between rent increases?
And where are we at with notice?
Because I think it's still you.
The notice provisions have remember you couldn't.
Actually I don't think they have. They've announced. I think that the tenancy build change it has been introduced, but I don't believe it's pasted.
Ye'd okay?
Right?
Because there is another thing we want to talk about, and it's hopefully it's nothing, not a major subject in terms of the number of properties that are actually in this situation. Because I remember the days we'd opened the property press, or back in the days.
You remember the days of the property press.
It's a long time ago, back twenty years ago, but there would be a black and white section of the paper and you could almost tell how the market was doing was how many black and white pages there were, And there was a time when there were a lot being more sales. And the question is, I guess, is a mortgage sale one way of getting a bargain or is it? I asked that looking at you going what youre giving that look like you idiot. Of course, it's not that simple.
I've gotta get to got to get a poker face.
Yeah, But mortgage sales, I mean, of course, I think the whole thing, the attitude of the market towards more mortgage sales has changed since twenty years ago anyway, because the last thing banks want to do, last thing anyone wants is a mortgage sale. But I think now the banks, my just casual observation would be that they really try their hardest to keep that property in the hands of the person who owns it.
They try to avoid them because for the simple reason it is incredibly it is very value destractive. Ultimately, if the thing goes to if a property goes to a mortgage sale, it means that the relationship between the bank and the mortgage has broken down completely and it's the only way to actually achieve realization or you know, tidying
up alone. And there's a real taint that comes to them because people expect that they're going to get a bargain because the mortgageaw gives so few warranties on sale, so of course there is a price reduction that a buyer would expect, but they can be incredibly complicated.
It does feel like there's an element of a gamble and buying any mortgage cell. Mortgage cell, wouldn't they be there's.
Definitely risk here. You are, you are getting your you know you're buying sometimes sight unseen and you're buying accepting whatever you find when your dad is as wear as So you want to be an experienced sort of an investor and know what you're looking at before you decide to jump. And I wouldn't rock up to one of those on a Sunday afternoon and buy one just on a casual wind.
Put in that way, No, and I rest assured. We do not have a mortgy property sale property as our property the week either. It's although if it was a mortgage sale, it looks so good you might take a punt on getting a bit of a discount on it because it's kind of price the property of the week. It's a have you seen the property of the week. Oh it's a ripper, isn't it. Anyway, we're going to be back. We've got a caller waiting, so we'll be back in just a tick. You can give us a
call on that. Have you ever bought a mortgage mortgage at a mortgage sale, and did you learn any lessons or was it just the best thing you ever did? Oh eight one hundred and eighty ten eighty It's twenty two minutes to five. And when it comes to gateways to your home, you want your windows and doors to look great and work flawlessly. Exceed has over thirty years of experience in New Zealand fixing all types of windows and doors, from sliding and hinged to glass and timber.
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Years, property, parenting, politics plus health, money and the week's figure issues. It's Home on the Weekend, connected with Tim Bebridge, Use TALKSB.
Yes, News Talks EB and my guest is held on a Sullivan from Velocity. We're talking about a couple of things, mortgage sales, the dos and don'ts or just avoid like the plague. I don't know, obviously people don't. Otherwise there wouldn't be such a thing as mortgage sales because there's aways going to be a buyer, but also negotiating a rent change if you think maybe you're paying too much. Eight hundred and eight Francis Hello, Oh hello, how are
you doing? What would you like to what would you like to ask or comment on?
Oh? Yeah, you know, I just well, to be honest, I'm on my way home from work and I just thought i'd check in with a rent ease. Well a rent rente Is that the right one? I don't know, but I just thought i'd check in with a renterers perspective on all of this, if that's okay.
So I didn't quite catch that last one. Tenants is a good way to put it with a tenants or what?
Well, yeah, I'm a I'm a tenant. I've been flatting. I'm I'm twenty seven years old right now, and I've been flatter since I was about nineteen, and I just thought i'd check in with you know, a renter's point of.
View on yeah, and what's your point of view?
Well, my point of view is a good landlord is worth their weight in goals.
Honestly, Oh so on the other side of the equation, it's not about the value of a tenant, but a.
Good landlord, yes, exactly.
And you know a good landlord is worth their weight in gold because you know, I've had my fair share of awful landlords. I've had one who've come in and rifled through my underwear jaw when I wasn't at home. And yeah, it's it's been a whole learning curve.
Does landlord, sorry, does that just does that just change the way you you behave as a tenant or just I don't know, it shouldn't change your way of behaving. I'm guessing everyone just behaves themselves. But has it had an impact on the way you approach I don't know, the way you treat the property and and you're relationship with the landlord.
Actually it has slightly changed the way I behave in the property, just you know, keeping things that I wouldn't want my landlords to see, not like nothing, you know, degrading or anything, just keeping my undies out of the way and things like that.
Yeah, that's good. It's good to keep the undies out of the way. So I wasn't quite sure where that conversation with Francis was going there. But anyway, no need to comment to Helen because we've got another call to go.
Jeremy, Hello, Yeah, you know, I just I thought i'd tell you that year in the last even years, we've bought twelve properties that have them a been more than details and their ladies right. Is complicated and all the switch properties we've made quite quite good profits out of them. That is complicated. In terms of a couple of them, I had to pay the owners to get out of the properties. Another one was half down, but we were
able to still make money out of it. And so there is there is it can't be problems, but then there can't can't. Then you also can get situations where it's empty the gold and you can just take it over and then do it up.
When you say when you say pay the owners to get out of the property.
You don't guaranteed vacant position when they're you're not guaranteed vacant positions, so you may find it comes with someone.
Yeah, you just take it over and if there's someone in there, knock on the doors. Sometimes it isn't even the owner, it's just someone living there. I can get a lady who's living in one of my houses with a dog and she just stayed there. Well, I did it up, and then when we're I was going to put on the market, I had to up here to get out of it. Ended paying this money back.
Sort of it's almost like a bribe. Is that almost like a bribe in a way? I mean without sounding that a lisit.
It's not that there's enough. It's just business and it's just people. I know some people excuse me of playing on other people's misfortunes, but if I didn't, there's plenty of other people out here. I go to some of the mortgaging, so there's about twifty people here.
Is he what made you buy your first mortgage property and a mortgage, you know, abandoned property or a mortgage.
Just because I was an investor. We with man, so we just do this on the site and so it came out pretty cheap. There was a half into our house antiquately and I bought up to thirty four thousand and then shipt to the house under house. Is it sold for three fifty about a year and a half later.
Are you?
You can do really well out of them, but you've got to pay text, You've got to be darst registered all that plabor because you can't do anan. Revenue will catch you. They will catch you if you do it without it. But I do also because I've got a proper background.
So well, actually that was my next That was my next question is that it wouldn't be your first mortgage purchase, would not have been your first real estate purchase. I'm guessing.
We've done about beady years we've been together. But yeah, no, it isn't for the faint hearted. I know of some people who bought two houses in it and prevent town and saying people and they couldn't get them out in the end they had to sell it back to the owners. Had a product.
Yeah, okay, hey, Jeremy, sorry, we just got a bit of a dodgy line there. I just had to wrap it up there. But yeah, it's a bit of a cautionary tale, isn't it.
Absolutely if you know what you're doing. And Jeremy sounds like he's got all the skills that you need for an endeavor like that.
Actually, the relocatable homes is an interesting one, but that's probably a whole nother, whole other of course, funnily enough that I did look at that for my first house, did you know, I don't know what. Twenty five years ago, I didn't actually do it. I thought about a lot of things happened.
I looked at baring was absolute little shocker of a door upper and a good friend of mine sat Helen. Getting an A in third form woodwork is not qualification you need for doing and doing wrapper.
It's like, yeah, good point, yeah, good, Okay, Right, we'll be back in just a moment. It's ten and a half minutes to five news talk, saidb Yeah, so welcome back to the One Roof radio show. My guest is Helena Sullivan from Velocity. You can check their workout on velocity dot co dot nz.
Is that right?
How we tack out the one roof website because we are the one roof data partner.
That's the one.
All that lovely datas comes from us.
Excellent, that's the one right now though, the day that we care about is the fact that it is seven minutes to five news Talk, said b.
The one roof property of the week on the Weekend Collective and.
The one roof property of the week is Look, there were always a ripper, so I don't know why. So I don't know why I use the hyperbole because you know it's always going to be a stunning property or a very interesting one. This is an well it says. It offers one hundred and eighty degree views of lake Walker, Tippoo, the remarkables Mountain Range and Cecil Peak. The home perfectly integrates indoor and outdoor living, featuring expansive tilled a tiled
patios ideal for hosting gatherings. It's a modern, open planned kitchen. Look, it's a new, beautiful home. It's in four Lynch Lane in Queenstown. I think it has a value of around well the one roof. I'm struggling with the one roof one roof estimate only because I know two point six million dollars is a lot of money. But Helen, you have seen the property and the views. I mean, it just looks absolutely spectacular, doesn't it.
The views are stunning. You would be engrave danger. I think of spending most of your time just gazing vacantly out the window.
Yeah, I mean.
Sitting in the hot tub gazing blissfully at those snowclad mountains what called Gin and Tonic in here.
Yes. So, in fact, when I looked at the listing, I do think it's said there was an asking price of four point something millions, So I think we might be there might be.
Yeah, No, I think the indicators more towards the three million mIRC. One of the that the indication does come with a medium confidence, which is kind of suggesting that there's I mean, you know, the challenge is that those are all algorithmically determined and the mathematics can't see their view.
Yeah, it is absolutely spectacular, isn't it. Actually? You know, the thing is, if you just about all of Queen's Town, there are not many places that don't have some sort of reason or viewer is there?
That's true. It is just a pretty magical little spot.
So anyway, thanks for thanks for joining us. You're going to pop down to Queen's and make an offer on that.
I am when the twenty six millions and I Hamish Walker will be getting.
Actually, I must say that does form part of my business plan as well, given the twenty six mal is it sex male? It's a snip. Thanks for Johnny us Allen, always a pleasure to thank you for having me, and as Helen says, of course, if you want to check out the work that Velocity does, go and look at the data and all the analysis and the information that's on one roof, the one roof, one roof, dot co dot nz And as I say, of course this because this is the one roof radio show. We'll be back
with the parent squad next. This is news Talk z B. It's coming out to four minutes to five.
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