Chris Small: ABC Business Sales MD argues young Kiwis should invest in business rather than housing

Some are proposing an argument to be made for young New Zealanders looking to invest to avoid the housing market and get into their first business.Concerns have been raised around problems with consents for new homes, the volatility of the housing market, combined with a new survey which says 77 percent of people thinking home ownership is unaffordable.Between October last year and January this year, the average house cost just over $1 million while the average small or medium sized business cost $750,000.But the returns on the home only yielded about $42,000 compared to a business which saw a 29 percent return on average - or roughly $214,000 pre-tax.One of the people making this argument is ABC Business Sales managing director Chris Small who joined Mike Hosking.LISTEN ABOVESee omnystudio.com/listener for privacy information.