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Rawdon Christie: real estate agent on what decreased Auckland property valuations mean for buyers · Best of Business

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  Speaker 1: You're listening to a podcast from news Talk zed Be
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  Speaker 2: Auckland Council has released the property valuations for Auckland City.
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  Speaker 2: Been a bit delayed, not pretty. Valuations are down nine
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  Speaker 2: percent on average. Some properties are down significantly more. Barford
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  Speaker 2: and Thompson's Rawdon Christie's with us at Rawdon.
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  Speaker 3: Hello.
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  Speaker 2: How are you, Hannah?
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  Speaker 1: You good, very well.
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  Speaker 2: It's lovely to talk to you again. Ruden. Listen you
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  Speaker 2: had any phone calls from upset homeowners about this.
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  Speaker 3: I've had conversations with concerned homeowners, but I think all
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  Speaker 3: vendors at the moment have been a little bit concerned.
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  Speaker 3: This is just another little bit of a body blow,
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  Speaker 3: and I'm trying to sort of make people realize that
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  Speaker 3: both both vendors and buyers that these council valuations really
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  Speaker 3: should be by and large just ignore them. They are
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  Speaker 3: not a property valuation. But it's very hard to tell
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  Speaker 3: people that because people do still look at council valuations
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  Speaker 3: and think they give you and some sort of indication
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  Speaker 3: property value.
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  Speaker 2: Yeah, do you reckon it's going to have any impact
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  Speaker 2: on deals or wrong. Whether people want to list their
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  Speaker 2: houses at the moment.
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  Speaker 3: I've had conversations with buyers today who are putting forward
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  Speaker 3: offers and are making it very clear that they think
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  Speaker 3: their offer is particularly good given the fact that counsel
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  Speaker 3: values have dropped today. And that's a really significant thing
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  Speaker 3: because that they are just saying, I would potentially reconsider
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  Speaker 3: the offer I'm putting forward were it at a worthy
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  Speaker 3: council valuation to have dropped by a certain amount. Now,
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  Speaker 3: whether that's buyers just because buyers do hold all the
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  Speaker 3: cards at the moment to an extent, whether that's just
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  Speaker 3: them having yet another arrow in their in their in
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  Speaker 3: the bow as such to be able to beat prices down,
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  Speaker 3: I'm not sure. But that conversation has been had several
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  Speaker 3: times today.
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  Speaker 2: Have you had a look at how much your house
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  Speaker 2: went down?
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  Speaker 3: I haven't looked. I don't want to, because that's the reality,
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  Speaker 3: is that we're just going to have a whole heap
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  Speaker 3: of really depressed people because we all think when you're
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  Speaker 3: thinking with poor and now, which is not true.
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  Speaker 2: No, it's all in our head. That's completely irrational. Rud
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  Speaker 2: and I really appreciate it. Thanks for sitting it straight,
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  Speaker 2: Rud and Christy real estate agent. I'll tell you what,
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  Speaker 2: I would hate to be in retail this weekend. So
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  Speaker 2: just feel like everybody's going to be so depressed they're
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  Speaker 2: not going to go out and spend any money at all.
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