Peter Newbold, General Manager of Real Estate at PGG Wrightson is now the proud owner of two hats as he's also running the PGG Wrightson Livestock Division.
Jamie Mackay from The Country caught up with him recently and the main topic of conversation was naturally the disaster unfolding in Gisborne, Hawke's Bay and the East Coast of the North Island.
Jamie wondered how PGG Wrightson agents and their clients are coping at the moment. Peter says it's really tough with "normal" work put to the back. A number of PGG clients have had their homes wiped out, all their possessions and stock washed away. Many members of the PGG Wrightson team have spent time helping their clients and working in the community. They're hoping for some resolution over the next couple of weeks - and some fine weather.
Jamie pointed out that sentiment drives real estate and real estate values. And there are a lot of obstacles at the moment. Peter agrees.
The cyclone, interest rates and inflation are all on people's minds. So real estate is put on the back burner.
Jamie wondered about the plight of the homeless people courtesy of Gabrielle. Will this drive the real estate market in Gisborne, Hawke's Bay and other East Coast regions? Peter says that many homes are seriously damaged, some may not be able to be lived in again. Where people will live, what needs to be built - this represents a challenge on housing stocks moving forward. It's a sobering thought that some communities may not be able to stay where they are.
Jamie asked about the unaffected parts of New Zealand - is there much happening with dairy, sheep and beef or horticulture?
Peter said that listings and viewings are coming on. But you don't really see the activity flow through 'til March and April.
The lifestyle market has really stalled - that won't come good 'til late spring. From a rural perspective, outside the rain-affected areas, it's probably a normal pattern right now.
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