Hi mate. In John Ryder's recent newsletter he noted that real estate is slowing more quickly in Australian eastern cities with notable weakness in Melbourne down 5% year or year. He's a very smart guy, far smarter that this old dog. He's neutral on real estate in N.Z. and negative on Australia. Implications for RYM expanding rapidly over there ?
Disc : Also own RYM and OCA as I believe that the demographic tailwinds in this sector are truly compelling. For what its worth I think on balance provincial N.Z. will do really well in the years ahead, Auckland possibly already at max affordability level although I did see a modest do-up 3 bedroom townhouse in Avondale the other day for just $599K...the issue is a lot of people don't want to roll their sleeves up and get stuck in with renovating and refurbishing and or don't have the time with both parents working long days to make ends meet.