Mega landlord who predicted downturn will ‘sell-up and leave NZ’ if Labour wins
Matthew Ryan predicted the property market downturn before it even began.
In 2021 he predicted it could fall up to 20%.
House prices are currently 17% below their peak, according to the Real Estate Institute (REINZ).
Ryan, who owns over 100 properties, now sees two very different future visions for house prices, depending on who wins the October election.
If the result is a National win, or a National-ACT coalition, he predicted the return of tax advantages to investors and greater confidence among landlords would contribute to a 5% to 10% price rise.
If the outcome were a Labour-Green, or even a Labour-Green-Te Pāti Māori coalition, Ryan predicted prices could fall another 10-15%.
If the latter happened: “I will sell everything up that I own in New Zealand, and I’ll go and live somewhere else. You can literally quote that, because that’s what I will do.”
A slum Lord threatens to sell up and leave to Australia, good.
Don’t let the door hit you in the arse!
Real Estate Pimps have donated millions to National and in return National have lifted the Foreign Buyers Ban and will give landlords the right to kick tenants out with no notice. National and ACT will also role back Tenants rights while reopening Landlord tax loop holes.
There is a class war on renters but we don’t have the political vocabulary to articulate it.
By opening NZ up to foreign speculators while reopening landlord tax loops holes, National and ACT are opening NZ up for sale to their overseas wealthy mates.
Let’s remind ourselves just how vested the Landlord class is..
…there is an unspoken promise between the neoliberal State and the untaxed capital gains private landlord class that the neoliberal State never builds enough State Houses to alleviate housing desperation so that the untaxed capital gains private landlord class can exploit that housing desperation ON TOP OF getting a $1.5Billion annual subsidy in the form of the Accommodation Allowance EVERY SINGLE YEAR!
I’m not going to tell you who to vote for, but if you are a Renter, you can’t vote ACT or National!
Increasingly having independent opinion in a mainstream media environment which mostly echo one another has become more important than ever, so if you value having an independent voice – please donate here.
If you can’t contribute but want to help, please always feel free to share our blogs on social media
Martyn – Will Labour put in a form of rent control…?
They did not.
Again, the housing market is cooked..
..put the hopium pipe down and MOVE ON.
Great commentary Martyn, as a former Renter & barely just, a Home Owner, I treat Housing as a Human right, to live in for Life, I care nothing for capital gains or using my House as a ATM machine, Housing needs to be disincentivised as a means to extract wealth from poor people who can’t afford to buy Houses & we need massive Taxes imposed on these parasitic Landlords who treat Renters like Feudal Peasants to abuse & exploit! The National Party always fucks over beneficiaries, working poor people & renters when they get in power, that’s a given! The Maori Party is the only Party who understands that change only comes from bold policies which they have? I’ve voted Labour all my Life but their sickening lack of Political courage despite their last, huge Election win & failure to execute a Socialist mandate because of the pathetic & Politically cowardly & insipid Jacinda Ardern Leadership & now Chippy has me looking elsewhere & for the first Time ever, I may be voting for the Maori Party because Labour & the Greens have been so hopeless! And I tell ya if National & Act get into Govt & try to enact their Neoliberal Deathcult Capitalism that’s failing on a Global scale thanks to BRICS & their Racist Polices, they’ll be a Revolution in this Country?
No there won’t, the vast majority of NZers are too comfortable and apathic to revolt.
” they’ll be a Revolution in this Country? ”
The only revolutions in this country are the rich man’s ones.
1984 and 1990.
And Rimmer is ready and willing to begin the next one.
Yes, but we voted Labour last time to stop the massive house price rises and they let them double and treble. Jacinda seemed relaxed about the rises? We are fucked either way.
Jacinda’s legacy will be noted as when home ownership slipped out of the reach of the working couple.
that started under Helen Clark.
Simple fix…..buy a house and vote National….easy peasy…..
And that is exactly the point.
A large number of voters cast their votes on where they want to be, not where they currently are. So if you are a renter, but anticipate being a homeowner reasonably soon, it makes sense to vote National/Act. Many younger people will vote in that basis.
Can’t see many votes for Nats/Act on this scenario. I get the impression that a good many renters are locked in, at least where I live. A few perhaps who are biding their time and on target for the deposit . Unless you’re buying in Reefton or Granity (no disrespect Coasters but I’ve heard said its more ‘affordable’ over that way).
If one votes for a future where house prices rise faster than wages, it is a ponzi scheme economy fueled by rising foreign debt fora generation or so and then that will end.
The result will be a class divided society. Locals without property owning parents joined by migrants as the working class that rent.
We are nearly there now, once the boomers are gone it will be about 50% ownership.
We need more rentals for a young mobile group that do not want to settle and be in the home owning trap of previous generations.When I arrived here I was surprised at the pressure to buy a house and commit to a mortgage and do without to pay it. In the UK many rented for life and no stigma to that.
Go back there and take your shit with you. NZ was a great country unique when I first migrated here.
Looking at Matthew Ryan’s pic on The Post story you gotta be impressed. Well sort of. Looks Gen Z to me. A 100 properties at that age! Ffs, its taken me a lifetime to get just one. But I do have a clear conscience … and don’t have to think about being forced across the ditch.
I’ve lived in a flatblock in Gisborne for 15 years. It’s got to the stage where the rental agents no longer bother fixing things but withering rent rises every year. My dear best, closest neighbour is going out after a year like all good things (off to a subsidized flat). She had standards and rarked the agents up, the main guy being a semi-cuzzie. This guy has been eternally suspicious of me over my time here. So, a twot. Business practices have come in so they are required to give the rent-rack wheel a twirl every year.
You get to the heart of National’s view of housing. The despicable situation Bill from Southland left NZ in. Bill from Southland is the quintessence of christianity/kindness from the modern Right. Fiddling, fiddling , to sooth their religious consciences AND not spend major money. It works out just like for Bill from Southland, and, collaterally, us.
If anything the Labour government has done nothing but enrich this fuckwit and his 100 properties. Piss off and don’t come back, the days of the greedy housing pimp are over.
About Bill English and his tinkering — he’s the best of National’s care for the needy. None of them are better. And he was hopeless. When you humour some seemingly human National or ACT hack on the media, remember that. They don’t care about our heart. Of 1891 and 1935. Why the last 40 years of their rule has been a holocaust for the needy, and our old NZ identity.
And ‘so’ our old NZ identity.