TwentyOne Magazine - Winter 2016

WINTER | 2016

DEFROST THIS WINTER Brave the chill, get out and about with TwentyOne

CHERIE BARBER The power of street appeal

CHARLES TARBEY Real estate ‘unplugged’

QUEENSTOWN Plan your winter escape

CENTURY 21 AGENTS. SMARTER. BOLDER. FASTER.

With compliments

INSIDE THIS ISSUE

PUBLISHER

Century 21 Australia Pty Ltd

CONTRIBUTORS

HOME IDEAS

WINTER | 2016 Winter essentials 4 Winter warmers 6 The power of street appeal

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Winter garden guide 24

EDITORIAL ENQUIRIES

Rebecca Pratt T +61 (02) 9025 9590 rebecca@zmmgroup.com

ADVERTISING ENQUIRIES

Marketing Department T +61 (02) 8295 0600 askmarketing@century21.com.au

Real estate ‘unplugged’ 10

PROPERTY

Charles Tarbey Cherie Barber Geoff Barnett Bradley Beer Justine Brown Malcolm Campbell Chris Gray Luke Mangan

Winter property risks 28 New Zealand’s regional renaissance

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Items that heat up deductions

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Investing in a second property

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ART DIRECTION/DESIGN

Ryan Dunn T +61 (02) 8295 0600 ryan.dunn@century21.com.au

PRINTER

Excel Australasia T +61 (03) 9775 1411 info@excelaustralasia.com.au DISCLAIMER We have in preparing this information used our

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Queenstown 12 Winter fitspiration 18

best endeavours to ensure that the information contained therein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Reproduction in part or full is not

Smoked ham hock and vegetable soup

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Spotlight on 4Fourteen 32

permitted without the express written permission of the publisher. Century 21 Australia Pty Ltd cannot be held responsible for the accuracy of statements made in advertising or editorial in this publication, nor the quality of services or products

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promoted. The publisher excludes any liability for any loss or damage sustained by readers arising

TECH

from, or in conjunction with , the supply or use of

App review 16 Tech essentials 42

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information in this publication through any cause.

Opinions expressed in this magazine are of the writer or contributor and are not necessarily the opinion of Century 21 Australia and Century 21 New Zealand or its advertisers.

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HOME IDEAS

WINTER ESSENTIALS Add some winter style to your home with these great pieces from Bunnings and Papaya.

IBIS FLOOR LAMP The Ibis Floor Lamp is a modern, chic addition to any home. The soft copper paired with the cool tones of the marble is a combination that will add a touch of Scandinavian elegance to your living area. Perfect to light your nights that are spent engrossed in the latest good read. $139 AUD

AVANTE OPEN FIREPLACE Both versatile and stylish, the Avante Open Fireplace can be placed in indoor and outdoor spaces. Beautifully framed in corten fascia, the fireplace boasts a rustic, yet inviting aesthetic. Gather your guests around the fireplace when entertaining – it’s a great conversation piece and will keep the atmosphere cosy and warm. $1899 AUD

EVELIINA THROW The Eveliina throw is a super-soft throw that will keep you warm when the temperature drops. Made from a brushed acrylic fabric and featuring a tassel edge, it can be easily styled with the decor of any room. Pile them up to create a textured, luxurious space for lounging around and snuggling up. $89.95 AUD

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WINTER | 2016

MIMOSA 9 PIECE DESERT SANDS SETTING Colder weather does not have to stop you from embracing your outdoor areas. There is space for the whole family with this aluminium and resin wicker Mimosa setting.

Add a few outdoor heaters and enjoy in comfort, as the chairs come with padded polyester cushions. The tempered glass table top protects the setting, making it a stylish yet durable piece that you can enjoy in all seasons to come. $1799 AUD

BELIZE LANTERNS Papaya’s Belize lanterns are ideal for adding some candlelit ambience to your home. They are made from a lightweight metal crafted in a scale pattern, so as a candle burns inside, the light will sift through and cast a soft glow across any space. With a metal handle, the lanterns are extremely versatile so you can choose to accessorise both indoor and outdoor areas.

Small $39.95 AUD Medium $59.95 AUD Large $89.95 AUD

SCANDIA HEAT ‘N’ COOK RADIANT HEATER Cook up a hearty feast with ease using this Scandia wood-fired oven.

It can be placed both indoors and outdoors, and features a baking oven and extra-large cooktop. The impressive Heat ‘n’ Cook can service a 22 square foot home, so that it will truly bathe your living space in warmth. $1699 AUD

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HOME IDEAS

WINTER WARMERS

Brace yourself for the chill with Justine Brown’s interior design tips.

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HOME IDEAS

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ust as we rug up for the colder months by adding layers to our wardrobe, we can also do this for our homes. No one wants to change their furniture fit out seasonally, but by layering on top of your existing pieces you can cosy up your living spaces with a few cost effective additions.

charcoals, or some friendlier bottle or marine greens and moody blues. Dirty oranges and maroons paired back with charcoals will add a richness to any room, even bedrooms and bathrooms.

These colours are a great marriage with the current trend of copper and brass lighting.

TEXTURE Adding texture in the form of blankets and throws is a simple and economical way to warm up a living room, bedroom or sofa. Choose from chunky woollen throws with Pom Poms or tassels, teamed with oversized floor cushions for a casual, organic look. Exquisite velvets, furs and satins in the forms of scatter cushions and bedspreads can create a luxe look to take the chill out of any home. Another heart-warming look is an Alpine throwback, using hand knitted cushion covers and chunky weave throws that invite you to snuggle up on the sofa with a good book.

LIGHTING Nothing quite beats a stone fireplace to set your home aglow for winter, but there are other options to add some warmth. Look into some wood burning fireplace options like ‘Jetmaster’ fireplaces or gas wood heaters that will set the mood and warm up a space. You may not want to redo the lighting in your home, but by adding a free standing floor lamp in a room or investing in a new table lamp (try ceramic, glass and wood combinations), you will instantly add a cosy glow. However if you are redoing lighting, don’t forget to install dimmers. It’s during these cool nights in that you’ll really appreciate them. Also, don’t underestimate the value of some beautiful scented candles flickering in a room to warm it up.

Leather and suede also come into their own during these colder months. You can reupholster armchairs or sofas in these fabrics, add a few new cushions or invest in some new pieces. Everything from leather mirrors, lamp bases, to photo frames and occasional chairs in these materials are hot right now!

COLOUR The best way to warm up a space with colour is to start with an existing neutral palette and layer up with accents of colour! Again, this can be achieved simply by adding artworks, cushions or rugs. If you are feeling more adventurous, paintings or wall papering featuring deeper hues can take the “chill” out of a space. Choose from blacks and

RUG UP! It’s time to cover those floor boards and hard surfaces by adding something that will be cosy underfoot in the cold mornings. A soft rug next to a bed when you first roll out can’t be beaten! Adorn hallways with runners and invest in some rugs in the living rooms and kid’s playrooms, as well as some big floor cushions to lie around on. Turkish, open weave, Burber or fur are on trend at the moment. Don’t be afraid to throw a small fur rug over the back of your sofa or favourite armchair and snuggle up into it with a mug of hot chocolate.

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LIFE’S LITTLE LUXURIES When budget allows or you are caught up in the excitement of renovating, you might want to consider some things that will make those winter months more enjoyable. These include heated towel rails, overhead heat lamps in bathrooms and underfloor heating in bathrooms and concrete living areas. Also consider, reverse cycle air conditioning or installing gas bayonets in living areas.

Adding some timber to your home in the form of kitchen cupboards, vanities, or dining tables and chairs also adds warmth. Failing that, an electric blanket and a good pair of ugg boots shouldn’t be underrated!

So bunker down with a glass of red and some cosy cashmere socks and enjoy the warmth your home can provide. 

ABOUT JUSTINE BROWN

Justine Brown has been a stylist for over 15 years. She has had interior styling work featured in many leading lifestyle magazines, including Vogue, Belle, Inside Out, Home Beautiful, Country Style, and internationally, Elle Decoration UK. Her experience also led her to styling Country Road catalogues.

Earlier in her career, she worked as the Fashion Director for Cosmopolitan magazine, and styled the fashion pages of Good Weekend. Her interior styling agency, chocolateBrown, transforms people’s houses into the homes they always dreamed of living in. chocolateBrown specialises in creating unique living spaces for every client. Spaces that are both functional and beautiful, reflecting the individual needs and tastes of each client.

For more information, head to www.chocolatebrown.net.au

Getting a tax depreciation schedule through BMT meant that our $2,600 tax bill for last year became a $12,000 tax cheque.�

Tiana, Benowa Qld

Claiming depreciation on your investment property can significantly improve your cash flow and reduce your taxable income.

Visit bmtqs.com.au or call us on 1300 728 726 to find out more.

2016_AD055

PROPERTY

REAL ESTATE ‘UNPLUGGED’ Getting to know your agent beyond technology.

By Charles Tarbey, Chairman and Owner of Century 21 Australasia.

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here is no question that we live in a world consumed by technology.

Our days are spent transfixed on shining screens, communicating through texts, emails, tweets and more.

When it comes to real estate, technology has significantly advanced the real estate industry. From online and social media property listings to the development of property apps at the tips of buyers’ fingers - the opportunities the digital world has created are endless. While many of these new technologies are helping property buyers make their lives easier, I believe there are a wealth of advantages that can result from establishing a strong face-toface connection with an agent.

Agents are often time poor so by making yourself ‘front of mind’ to them, you may be able to snag an ‘off the market’ purchase or at least be one of the first buyers called when a good property comes on the market.

Australia has seen a real estate market full of activity over the past few years, due to strong and consistent growth in many markets around the country, coupled with a seemingly ever-increasing demand for available stock. One could say there has been no traditional real estate seasons recently as Australians have been consistently transacting property and riding the wave of a strong market.

However, a market that has moved from strength to strength must inevitably stabilise and we may be seeing that of late. As of April, dwelling values increased by an average of 1.7 per cent across the CoreLogic combined capitals’ index. I believe that seasonal changes may now become more pronounced in Australia. However, the recent interest rate drop may impact the experience of a traditional winter property market.

Transacting real estate in these conditions can be made easier with the right knowledge and information, so here are three tips that I believe will be useful in encouraging communication and creating valuable connections between you and your agent.

BE PROACTIVE WHEN BUILDING A RELATIONSHIP Whilst the internet offers a fast and easy way of browsing what stock is available, break down the digital barrier by picking up the phone and arranging a face to

face meeting with an agent.

Agents will be able to provide you with local knowledge that a Facebook post could not. Knowing the hot spots and the upcoming developments of the area could make a huge difference to which property you purchase and where.

EMBRACE OPEN HOMES While the internet allows buyers to browse properties for hours and hours, nothing quite beats attending a lot of open homes.

Australian marketplaces are everwidening, so what is likely for one market may not necessarily be likely for the next.

Knowledge about your relevant market dynamics will be vital, therefore whilst searching for the ideal investment or new home, aim for balance. Utilise the power of information and communication that technology can offer but do not forget to look for the human connections and valuable advice that can only emerge in the real world. 

Firstly, properties can be very different in real life to how they appear online.

Walking around, getting a feel for the home and inspecting all the nooks and crannies will ensure you are not disappointed.

Recently, I have attended many open homes and I have noticed that some agents were hesitant to engage in conversation with potential buyers and vice versa. I encourage both parties to be confident, put themselves out there and have a chat. As you attend open homes, you not only get a chance to build a relationship with an agent – you can also get a feel for the market and what is available or the conditions that may be experienced in an upcoming auction.

TELL THE AGENT WHAT YOU ARE LOOKING FOR In the same way you can create a price range for online properties to view, in order to narrow searches and save time, you can also tell local agents the type and range of property you are looking for. This doesn’t mean you have to tell them the highest price you will pay for a property. Providing an indication of your range will often suffice, making your life and the agent’s life easier.

Giving agents minimal feedback about your needs and wants may lead to them proposing the wrong type of properties for your circumstance. Valuable time could be wasted as your ideal property may be sitting on the market.

ABOUT CHARLES TARBEY Charles Tarbey is the Chairman and Owner of Century 21 Australasia, one of Australasia’s largest and most diverse property groups. Charles has been actively involved in the property industry since 1972, and has trained and given advice to thousands of real estate agents, vendors and purchasers. He is also the author of two real estate books: Profit Driven Real Estate and Listing Rich.

Scan the qr code below or head to www.charlestarbey.com.au to get your free copy of ‘Listing Rich’.

As you look to achieve success in the real estate market, it’s wonderful to embrace new technologies and what they provide but sometimes it’s also important to unplug from the online environment and get out into the market.

It is important to remember the disparities across the many different

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LIFESTYLE

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QUEENSTOWN Don’t hibernate, adventure to Queenstown this winter.

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LIFESTYLE

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scape to a true winter wonderland this season and embrace the cold in Queenstown, New Zealand.

With the picturesque backdrop of the Southern Alps, Queenstown is a great place for those looking to wind down and cosy up, while also offering an abundance of activities for the thrillseekers who really want to get their heart racing.

Each year, as soon as the cold settles in New Zealand, a steady stream of snow lovers from around the world will make their way to Queenstown for the ski-fields and winter festivities. Spend your day skiing, tobogganing, and snowboarding at the Treble Cone slopes, while you take in the view of the Southern Alps. When you’re done, make your way up to the Matukituki view point for an unbeatable view of the snow-capped mountains and beautiful valley floor. The Treble Cone’s Home Basin Express chairlift transports you up there, as you enjoy a bird’s eye view of the skiers and snowboarders on the slopes. Don’t forget to stop off at their new on-mountain café, so you can warm up with a coffee and lunch, while overlooking Lake Wanaka and the Southern Alps.

For a truly unique experience – helicopter and all – the packages offered

by Mountainhut New Zealand are truly something special. Their packages include guided ski tours on a range of different slopes to accommodate new learners as well as experienced skiers.

“Glamping,” or “glamour camping” is the style of accommodation on offer, as guests are hosted in huts that are kept toasty by a wood burner fire. It’s BYO food and sleeping bags (you’ll have bunk beds), but that’s all part of the camping experience. If you prefer to emphasise the “glamour” in glamping, there’s also a premium package available which includes a hut host, bedding and delicious food. And the best part? You’re flown in and out by a helicopter. Round up a group of up to ten of your closest friends for an experience of a life time.

For fun that’s on the icier side, you can head to the Queenstown Ice Arena – a unique spot for a quirky date or a treat for the kids. Hire ice sleds, hockey sticks or a Frisbee, or carve up the ice with a unique dance routine backed up by their amazing LED light system. The Southern Stampede also kicks off in winter, so if you’re a fan of ice hockey you can get tickets to view one of their exciting and fast-paced games.

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Just because its cold doesn’t mean that the outdoor activities are limited in any way. In fact most – about 90 per cent – of the adventure and sightseeing activities run all through winter. The bonus? It’s usually a lot more affordable too. Zip lining, parasailing, bungee-jumping, you name it – this is a thrill-seeker’s paradise.

Want a bird’s eye view of Queenstown?

Adrenalin junkies, you’re in luck.

SkyTrek offers winter paragliding and hang gliding. For the former, you’ll be coming from the top of Coronet Peak ski field, and the latter, over the tranquil Lake Wakatipu and Glenorchy. The views are nothing short of breath-taking.

If you want something that the whole family can enjoy but is no less thrilling, consider a sunrise hot air balloon ride.

Sunrise Balloons runs daily, so you can literally watch the world light up any day of the year. You’ll see familiar terrain from The Hobbit and the Lord of the Rings trilogy – which were filmed against the backdrops of the Southern Alps, Lake Wakatipu and the Remarkables mountain range.

Need to wind down after all those adventures? There are a wealth of spas and retreats in Queenstown to help

WINTER | 2016

you relax and enjoy some “me-time.”

The Onsen Hot Pools are a great place to indulge. High on the cliffside, you can enjoy the sweeping scenery from the tranquillity of your own enclosed pool room. Enjoy the breath-taking panoramic views offered by any of their day time packages, or watch as the stars come out with their “Candlelight Package.” Whether it’s a girls’ getaway or a romantic retreat, the Onsen Hot Pools offer a truly unique and unforgettable experience.

For something a little more family friendly, Alpine Aqualand has plenty of facilities to accommodate the young and old. For keen swimmers, there’s a heated lap pool that caters to swimmers at various levels. If you prefer something more languid, you can enjoy some gentle exercise and lazing about in the Leisure Pool and Lazy River. For the kids, there are hydroslides, which never fail to delight. Smaller children can play in the toddlers’ area where they can experience the water in a safe environment.

If retail therapy is your kind of “metime,” Queenstown will accommodate your urge to spend. Right in the heart of town is Queenstown Mall, or “The Mall.”

The Mall is one of the most photogenic shopping strips, just by the wharf. As you stroll through the strip you’ll find plenty of beautiful merino wool clothing that is made locally. Once you’ve finished all your shopping, you can enjoy an outdoor lunch at one of Queenstown’s many award-winning restaurants, or grab a beverage (or two) at one of the

many pubs and cafes that line the arcade.

In the evening, buskers and performers liven the atmosphere with music and other performances.

How could a trip to New Zealand be complete without a visit to the wine country? Around The Basin is one of the few wine tours that run during winter.

You’ll be enjoying the fresh air and cycling through historic gold mining village, Arrowtown. You’ll get to enjoy the gorgeous countryside while tasting wine and cheese. There are plenty of add-on options – you can ride with a knowledgeable guide, upgrade to an

electric bike and marvel the country from new heights by topping off your tour with a zip line tour.

When it comes to food, Queenstown really has no shortage of eateries that will impress. With a repertoire of fine-dining restaurants and emerging cafes and bars, travellers are truly spoilt by choice. If you love seasonal, fresh produce, head to Botswana Butchery. The menu boasts a wide-ranging selection of seafood and beautiful cuts of meat “from the butcher’s block”, with the drinks menu no less expansive, offering a selection of delicious cocktails and wines. Nestled in Archer’s Cottage, it offers cosy respite on a winter’s day.

Another must-try is Rātā, helmed by Michelin-starred chef, Josh Emett. The wine list showcases local wines from the Otago region, offering you a selection to go with every course. The decor is warm and earthy, offset by the industrial concrete and steel. It’s eclectic, and attracts a hip, young and arty clientele who are interested in inventive, bold flavours.

Queenstown has plenty to offer in winter, whatever your holidaying preference may be. Whether you want to get away on your own, make memories with your family, or embark on adventures on and over land, you can do it all in this picturesque town. Just make sure you pack for the cold and book ahead for early bird deals! 

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TECHNOLOGY

APP REVIEW

TwentyOne reviews three handy apps to maintain renovation sanity.

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MAGICPLAN MagicPlan allows users to create their own professional floor plans and work estimates. Simply take pictures of your rooms, and the app will help you take the measurements and draw your floor plan for you from these images. From these floor plans, users can add their own annotations and extra objects.

The app itself is free, but users will have to purchase floor plans before they can be exported into various computer-friendly formats.

COST: FREE

HOUZZ INTERIOR DESIGN IDEAS

DIY RENOVATION DESIGN

Renovating your home and need inspiration? Houzz Interior Design Ideas brings renovators together, allowing users to find design ideas, and communicate and collaborate with family and friends on the user’s renovation project.

You can delve into the discussion area to seek advice and support from both professionals and fellow homeowners. Not only that, but you can find, research and hire professionals including architects, landscapers and other contractors through the app.

This is a great app for those who want to stay on top of their home renovation. The app acts as a stepby-step guide to bathroom and kitchen renovations. Users can set budgets, select the items and quantities needed, and get handy tips such as allowing an extra ten per cent for tile quantities, in case of breakages and odd sizes. The app helps you with every stage of the renovation, from the initial demolition, to plastering, and all the way to painting.

COST: FREE

COST: FREE

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LIFESTYLE

WINTER FITSPIRATION

Shake up your regime with these new fitness trends.

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s the temperature drops it can be difficult to find the motivation to exercise. More often than not, most people have an overwhelming urge to curl up in bed with a book and a cuppa, and stay there for as long as they can. Try to fight this urge, as winter may be the best time for you to try out some of the latest exercise trends to get your blood pumping.

BIKRAM YOGA Bikram yoga, also called ‘hot yoga’ is just that - the heat is amped up, and don’t even doubt it, you’re going to sweat. It’s going to keep you toasty when it’s freezing cold outside, and in the meantime you’ll be building your strength, balance and flexibility. Before you exercise, you need to warm up. The room temperature is adjusted to the average body temperature to accelerate this process. Just as you get better at touching your toes after a good stretch, with the heat, you’ll be able to do the yoga moves more deeply and effectively. The perspiration also helps flush the toxins from your body, so you’ll be detoxing as you exercise – killing two birds with one stone!

ELECTRIC MUSCULAR STIMULATION (EMS) This is a new form of training which infuses technology into your work-out routine. It boasts that it can burn up to 500 calories in a 20-minute training session.

How? First, you get a specialised trainer.

You wear a personalised EMS training suit with conductive electrodes that correspond to specific muscles in your body, to activate the deep muscle fibres as you train. The suit sends currents to your targeted muscles encouraging them to contract and helping you achieve a higher-intensity work out. Standard exercises such as squats, weights and cardio are immediately amplified with the help of electrodes and you’ll be feeling the burn in no time.

POLE DANCING Far removed from its origins in gentleman’s clubs, pole dancing is now a cardio-intensive work out that many women – and men – are trying out. Pole dancing is great for strengthening your core, as well as improving flexibility and balance. It’s a full-body workout that requires dancers to engage all their muscles, allowing them to burn a significant amount of calories. One of the lesser known benefits is that dancers can develop their kinesthetic awareness – which is the brain’s ability to figure out where the body is in a three dimensional space in relation to surrounding objects.

Now this doesn’t necessarily mean that dancers will become instantly coordinated, but the increased spatial awareness will significantly improve balance. Lastly, pole dancing is great for body confidence – mastering all those difficult climbs, spins and inverts is truly something to be extremely proud of. 

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HOME IDEAS

THE POWER OF STREET APPEAL

Cherie Barber shares her tips for enhancing the first impression of your home.

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HOME IDEAS

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inter can be a tricky time for street appeal. Deciduous trees have shed their leaves in autumn, leaving them looking stark and void of greenery. Unrelenting rain can make concrete paths and driveways appear bleak and greyer than ever.

The absence of sunshine and warmth generally casts a pall over things, but don’t despair: there’s plenty you can do to ensure your front façade makes a great impression year round. It’s a potential buyer’s first taste of your property, so you want to make sure it leaves them hungry to see more.

STAND BACK AND TAKE NOTICE Start by casting a really critical eye over the front of your property. Maybe then you’ll see the humongous cobweb on the front porch and the pile of dead branches in the driveway that you’ve been blind to for months. Pretend you’re viewing your property for the first time; maybe even ask a friend to come around and critique the front of your property. If you don’t find at least half a dozen things requiring attention, you’re not looking hard enough.

TURN BACK THE YEARS You’d be amazed at how much dirt builds up on the exterior of a property over the years, but you’ve been living with it for so long you can’t even remember what it looked like before that veneer of grime enveloped everything. A broom and hose are fine for a superficial clean, but to get the full transformation you need a high pressure hose. Clean the paths, driveway, house exterior – basically any hard surface that has a build-up of dirt. Bricks

and mortar, in particular, will come up a treat with a high-pressure clean. You’ll be astounded at the difference.

STROKES OF GENIUS Painting a whole house is a big investment, but touching up a few things here and there can transform the front.

Look at the letterbox, front gate, fence, garage doors, window architraves, downpipes – wherever you see peeling paint, faded surfaces or just a real need for repainting, get busy with the paint brush. If you have a bare concrete driveway, you may want to treat it to a couple of coats of paving paint in a colour that complements the house.

Painting the front door in a bold colour can be a real feature of an otherwise neutral façade.

GET BUSY IN THE GARDEN Don’t let the cold weather deter you; roll up your sleeves, put on your gardening gloves and get stuck into the garden.

Weed, trim, mow the lawn, tidy up borders, mulch the garden beds and basically neaten everything. Then decide if there are any easy improvements to

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make. Consider some stepping stones or new paths. It doesn’t have to win any landscaping awards; the garden just has to look neat, tidy and well-maintained.

INJECT SOME WOW FACTOR With all the hard yakka out of the way, it’s time to get creative. Look at some of the details that give a place wow factor and that coveted resort appeal. Lighting is a good place to start. Consider some solar lights to highlight a path or uplighting for trees. A modern letterbox or big stainless steel numbers can modernise an older property. Is there room on the front porch for a potted urn or maybe even a chair? It’s all these small details that add up to a façade and will convince potential buyers they really need to take a peek inside. 

ABOUT CHERIE BARBER Cherie Barber is a public educator, TV renovator on Network TEN’s The Living Room and host of 5 Day Flip in the USA. To enrol in Cherie’s 3-day renovating workshop, visit: www.renovatingforprofit.com.au

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HOME IDEAS

WINTER GARDEN GUIDE

Malcolm ‘Greenfingers’ Campbell prepares your garden for a winter inspection.

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inter can be a slow time in the garden. Visitors to open inspections might not want to wander around the garden or patio areas in the rain or cold, however there are some appealing highlights that will be appreciated if you consider these ideas in preparing your property for an open.

A few well-placed pots of ‘potted colour’, which is a term nursery folk use for plants in full flower placed in 12 or 14 centimetre pots, can go a long way.

‘Potted colour’ can be staged by planting the whole pot in soil or window boxes rather than planting them out; then if you get a quick sale you can salvage the plants and use them elsewhere. Polyanthus, Primulas, Dianthus, Calendula, Pansies & Viola, Iresine, Hypoestes, Poinsettias and Hellebores can also be staged inside for short periods. Use a window box or a large pot to stage them and backfill with copra to conceal the pots.

The French have a passion for using fruit, vegetables and flowers in arrangements on kitchen bench tops to great effect. If this sounds too artistic, try using some apples and colourful capsicums with a few large sprigs of herbs, like fennel or mint instead. Get a longer life out of these by wrapping some wet tissue around the stem cuts and wrap those in aluminium foil.

Any climbers on fences or walls outside or clipped hedges benefit from being sprayed with Eco-Oil to give a shiny lustre that speaks volumes as a place where a keen gardener lives or has lived.

It also adds a really pleasant organic fragrance for a few hours too, at very little cost. I have used this where there are other undesirable odours to be covered, like leaf litter or smelly drains.

I have often resorted to hiring large palms and other foliage plants where the patio or veranda was a pretty sparse scene, but this does require that the property is occupied. Vacant properties can leave you open to the risk of plant theft after an open home, which sadly is rather common.

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HOME IDEAS

If lawns are involved in presenting your property for sale in winter, I suggest leaving the tall fescue lawns with a longer cut at say 8cm which is a slightly shaggy look, but it can also be made to look quite luxurious. As for couch, that can be shaved low. This is normal in winter, but make sure it gets a top dressing of a high nitrogen water soluble fertiliser as a foliar spray or a drenching at least 3 weeks before your open days. This is because nitrogen uptake on cold soils is slower in winter, causing the lawns to look a little yellow. The nitrogen foliar spray is taken up rapidly and turns the lawn quite green.

My best trick for turning lawns bright green is one that I learnt from golf course greenkeepers. Spray iron chelates in the form of EDDHA and it will turn any lawn bright green in 5 to 10 days.

I sell this EDDHA from my website as many of the larger, well known hardware stores do not. Don’t ask me why not!

The product is imported from Spain and costs $45.00 a kilo, posted anywhere in Australia. It will make 200 square metres of lawn look sensational. In fact, it makes any jaded yellowy looking plants bright green and it will work on alkaline and acidic soils. Best of all, it leaves no salt residues. That is very important if your garden is in a coastal area on the Mornington Peninsula, on the Fremantle to Rockingham strip in Western Australia or anywhere in South Australia, where alkaline and saline soils are common. Of course, the more lead up time you have to improve a lawn or

hedge the better, but properties are often prepared for sale at short notice, which is where EDDHA becomes so valuable.

Product details can be found at my website: www.greenfingers.com.au

Best of luck for your winter property presentation from ‘Greenfingers’ himself. 

Slippery pavers or pavers with moss covering them need attention to protect visitors too, so it’s worth applying an algaecide that your local nursery would carry to clean them up. You don’t want any slip ups at your open day before a contract is signed.

ABOUT MALCOLM CAMPBELL Malcolm Campbell is a professional horticulturalist with over 30 years of experience as a dedicated gardener in the home garden and on the broad acre.

He has also spent 16 years as the South Australian presenter to the national ABC television show, Gardening Australia, and is the weekly gardening columnist to 10 Messenger Press (News Limited) papers around Adelaide. He has been the South Australian gardening writer to the national Gardening Australia magazine for 15 years. For more information, visit www.greenfingers.com.au

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WINTER | 2016 With RentCover, things are never as bad as they seem.

Property Manager Hi Terry, sorry to tell you this but your tenants have done a runner! And they already owe 3 weeks rent...

You’re kidding!

Couldn’t have come at a worse time. I’ve got so many bills...

And I think they had a leaving party...the place is pretty smashed up!

Seriously? I can’t afford this!

You know there is some good news...

Yeah, sure there is.

1800 661 662 | F: 1300 794 773 | enquiries@rentcover.com.au | www.rentcover.com.au Elkington Bishop Molineaux Insurance Brokers Pty Ltd | ABN 31 009 179 640 | AFSLN 246986 | Est 1975

century21.co.nz | century21.com.au | 27

RERCCU043-160212

I’ve already submitted a claim on your RentCover landlord insurance policy.

They’re generally settled within 5 days, so we should have a cheque by next week.

PROPERTY

WINTER PROPERTY RISKS EBM recommends insuring your rental property, so you won’t be left out in the cold.

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WINTER | 2016

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inter is upon us - the rains have come in many parts of the country and will come again for the next few months.

For weeks, eager handymen have popped their flyers in the letterbox. “Gutters cleaned… best rates,” they proclaim.

Landlords don’t necessarily see those flyers, but they should be thinking about how their investments are going to stand up to prolonged exposure to wet and windy weather. Chances are the tenants have not.

Did that cracked tile get replaced, from the time the TV antenna on the roof was fixed? Is the roof still waterproof? What’s that thistle waving its greenery over the gutter growing in? There shouldn’t be soil up there. Should there?

Routine maintenance, wear and tear or just accidental damage – who’s responsible for fixing what and for making the proper preparations for the onslaught of winter?

Landlord insurance will cover many situations. However, where the problems are preventable, the landlord or property manager needs to make sure tenants are meeting their obligations.

Dangerous storms are the most common natural hazard in Australia, causing more damage and destruction than cyclones, earthquakes, floods and bushfires. Rain damage can lead to long term problems such as rotting timbers, mould, flaking paint, even collapsed ceilings.

As the winter rains settle in, we seek out the warmth and cosiness of our home which brings up another abundant winter threat- house fires. When the cold weather approaches, the use of heaters, fire places, electric blankets, clothes dryers and other items increase.

However, many people either aren’t aware of, or are complacent about, the associated risks of fire safety in winter.

A claim received by EBM from Perth proves why care is always needed. It involves an owner of an investment property who has a RentCover Ultra policy in place, which protects the owner from a number of certain events, such as fire and water damage. The property

caught fire while the tenant was asleep on the couch. Upon becoming aware of the fire, neighbours called the fire brigade and police and the tenant was dragged from the premises and revived after suffering from smoke inhalation.

Due to the fire, the contents in the property were smoke damaged and required professional cleaning and painting to restore the premises to its former condition.

The next day, the property’s managing agent advised EBM of the situation and submitted a claim. This enabled the RentCover Division to process the claim quickly, appointing assessors to attend the property straight away and arrange for the cleaning and painting to take place. Although the situation also involved some reparations on behalf of the strata company’s insurance providers, the quick processing of the claim enabled the tenant to be returned to the property as soon as possible.

In the case of claims where a tenant is likely to be unable to occupy the property until it has been repaired, urgent action is required. EBM claims staff generally appoint an assessor on the day they are notified, whilst property managers and owners are asked to take whatever action necessary, including emergency repairs, to minimise further damage or losses.

With the co-operation EBM receives from appointed assessors, properties are generally ready to be reoccupied in a short space of time, depending on the full extent of the damage and availability of tradesmen and materials.

“Clearly, if they keep things running smoothly going into winter, there won’t be a risk of confrontation, blame games and expensive and time consuming repair work when spring is in the air,” said RentCover’s Executive General Manager Sharon Fox-Slater.

If you take a few practical steps to ready your property for the winter months and make sure that you have the right insurances in place, you can cosy up and bask in the warm glow of knowing that you won’t be left out in the cold this winter. 

Article supplied by EBM. Standard home and contents insurance will not protect against many of the risks that landlords face. Whether it be loss of rent due to an absconding tenant, malicious or accidental damage, or a whole range of other circumstances including tenant hardship, the RentCover range provides peace-of-mind to property owners like no other policy and has done for over 25 years. For more information, or to quote or apply online please visit www.rentcover.com.au.

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LIFESTYLE

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WINTER | 2016

SMOKED HAM HOCK & VEGETABLE SOUP Luke Mangan serves some winter comfort food for TwentyOne. INGREDIENTS            

2 smoked ham hocks 1.5 litres (6 cups) chicken stock or vegetable stock 200g Jerusalem artichokes 200g celeriac root 200g pumpkin 80ml extra virgin olive oil 1 onion, very finely diced 6 garlic cloves, very finely chopped ¼ savoy cabbage, roughly chopped 200g frozen or fresh peas 2 zucchini (courgettes), diced 3 tablespoons fresh tarragon leaves

METHOD Place the ham hocks in a large saucepan and cover with the stock. Bring to a simmer and cook, uncovered, for 1½–2 hours, or until the meat is tender and almost falling off the bone.

Remove the ham hocks from the stock and place them on a tray, allowing them to cool slightly.

Strain the stock and set aside.

When the hocks are cool enough to handle, pick the meat off the bones.

Discard the bones and any fat, reserving the meat.

Peel the Jerusalem artichokes, celeriac and pumpkin. Cut them into 1 cm (½ inch) dice and set aside.

Heat the olive oil in a large saucepan over medium heat. Add the onion and garlic and cook, without colouring, for 10 minutes, or until both are very tender.

Add the artichokes, celeriac and pumpkin and cook, stirring, for a further 5 minutes.

Add the reserved ham hock stock and bring to the boil, then turn the heat down to a gentle simmer.

Now add the ham hock meat, cabbage, peas and zucchini. Simmer for a further 5 minutes, or until the peas are tender, then season to taste with sea salt and freshly ground black pepper.

Just before serving, stir in the tarragon.

Serve the soup with a rustic baguette.

ABOUT LUKE MANGAN Luke Mangan is one of Australia’s leading chefs and restaurateurs and is highly regarded internationally as a shining example of Australia’s culinary culture. In addition to running ten busy restaurants, Luke is the host of 2GB’s Sunday morning Fresh! radio program and has written an autobiography entitled “The Making of a Chef”.

Luke recently launched a fifth cookbook entitled “Salt Grill” which features a range of recipes from Luke’s grills, as well as classic family recipes designed for the home cook.

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LIFESTYLE

SPOTLIGHT ON 4FOURTEEN TwentyOne visits one of Surry Hills’ culinary gems.

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WINTER | 2016

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LIFESTYLE

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estled in the leafy streets of Surry Hills is aptly named 4Fourteeen, at 414 Bourke Street. On the back of his success at the Four in Hand Hotel, Sydney foodies warmly welcomed the new addition to Colin Fassnidge’s restaurant portfolio with eager tastebuds.

Opened in 2012, Fassnidge co-owns it with head chef Carla Jones. Together, they’ve created a modern dining space serving bold and unexpected flavours.

The restaurant itself is large and open with the bar dividing up the floor. The space has a modern, industrial feel to it, with the huge windows letting in the light, as the winter sun decided to emerge for the afternoon. The open kitchen is sectioned neatly in the corner, so you can see all the magic happen as you wait for your food.

This wait is not easy, as the 4Fourteen menu is one that can whet the appetite through merely scanning what is on offer. The menu has been designed to share – with a combination of small and large plates as well as nibbles and sides to sample. Seasonal changes ensure a fresh dining experience with each visit, even down to the seasonal cocktails on offer.

Fassnidge is known for his love affair with meat, and this is clear from the

hearty menu, which offers lamb shoulder, suckling pig, as well as more unusual cuts such as pig’s ears. Alongside the meat is a variety of seafood – octopus, tuna, salmon. This is ideal for the indecisive or those desperate to try a bit of everything.

The soy tuna is cured perfectly, with its saltiness perfectly balanced out by the lemon curd and the aniseed flavour of the fennel. The flavours are light on the

palette, and a good introduction to the more complex, fuller flavours that the larger plates offer.

The tuna was followed by the harissa octopus and potatoes. Char-grilled and beautifully tender, the smokiness of the octopus was surprisingly complemented by the accompanying kale juice, which offered a little bit of acidity and a little bit of sweetness to the dish.

The suckling pig with duck fat potatoes is one of the standout dishes on the menu.

The meat was cooked perfectly – tender, with crunchy crackling adding texture.

One thing the dishes at 4Fourteen certainly do not lack is sauce – always providing the perfect finish to the palette while allowing the star of the dish to shine. This dish was no different, as pieces of crackling were placed artfully around the dish, maintaining the allimportant crunch.

For dessert, 4Fourteen arguably offers Sydney’s best ice cream sandwich.

Delightful in its simplicity, the velvety white chocolate ice cream was sandwiched between two delicate sheets of toffee, dripping with Dulce de Leche to top it off.

4Fourteen is open for lunch Friday, Saturday and Sunday from noon, and dinner Tuesday to Saturday from 6pm.  4Fourteen is located at 414 Bourke Street, Surry Hills NSW. For bookings, call 02 9331 5399.

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LIFESTYLE

CREATURE COMFORTS

An adventure to Africa, right on your doorstep.

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WINTER | 2016

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eed ideas for a short adventure this winter?

Experience something a little different at the Jamala Wildlife Lodge. Unlike your ordinary wildlife sanctuary, the lodge offers rooms for visitors to stay overnight.

Jamala Wildlife Lodge has everything planned out for you – with a complete itinerary which you can choose from depending on your stay. This means your accommodation includes all food and beverages, as well as exclusive tours around the zoo.

You can choose from a range of accommodation available at Jamala; the uShaka Lodge, the Giraffe Tree Houses and Jungle Bungalows.

The uShaka lodge is the former residence of the lodge’s owners. uShaka boasts seven unique rooms as well as an expansive lounge and dining area. On one end is the magnificent shark tank, and on the other is where the three cheeky resident monkeys will be hanging out. As well as offering gorgeous views of Lake Burley Griffin and Black Mountain, the uShaka Lodge has also been furnished with carvings, artworks and other artifacts from throughout Africa.

In the Giraffe Treehouses you can get up close and personal with the resident giraffe Hummer (short for Humbekhali) and feed him from either your balcony or his enclosure. Guests are also free to wander within their private enclosures, where they will be able to spend time

with the friendly animals who also call the enclosure home.

Finally, there are the jungle bungalows – a network of individual suites joined by a variety of enclosures. Here, the only thing that separates the guests from the lions, tigers, cheetahs and bears is a glass wall.

For this season, Jamala have also put together a winter special – a five-course degustation menu with truffle inspired delicacies. The degustation is paired with fine French and Australian wines.

To top it all off, dinner will be served in uShaka, alongside the shark tank. The special also includes a private tour of the Canberra Truffle farm, and is exclusive to guests staying at the uShaka Lodge.  Find out more at: jamalawildlifelodge.com.au

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PROPERTY

NEW ZEALAND’S REGIONAL RENAISSANCE

Geoff Barnett, National Manager of Century 21 New Zealand, gives a trans-Tasman property update.

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ecent Quotable Value statistics revealed a slight softening in Auckland’s house values for the first quarter of 2016. However, this appears to be short-lived. Auckland is showing signs of heating up again in the second quarter and I would expect this to continue for the foreseeable future.

The softening was entirely predictable given Government and Reserve Bank restrictions on loan-to-value ratios and overseas investors which came into effect late last year. Later in the year, more lending restrictions may have been applied to the Auckland market, given record-low interest rates are not helping to ease the pressure.

For Australasia’s fastest growing city, overall values were still up nearly 17 per cent compared to 31 March a year earlier.

With interest rates low and our regions still performing well despite falling dairy payouts, I believe 2016 will be relatively strong across the country. Outside Auckland, the rest of the country is experiencing a lift particularly for Hamilton, Tauranga, Hawkes Bay, Nelson and Wellington.

Our capital city is now performing very well with values in the Wellington City area up 4.2 per cent in the last quarter and up 8.9 per cent on a year ago. This reflects what we’re hearing from our Wellington franchise owner, Joseph Lupi of Century 21 First Choice Realty.

The likes of Auckland property investors are switching to Wellington for much better rental yields, while also enjoying strong capital gains. We’re seeing some real excitement in the capital with many properties now selling well over valuation, while Auckland’s more

central suburbs are effectively catching their breath. Another observation is that Auckland’s outlying areas remain popular.

With the average weekly rent across the Auckland region now in excess of $500 and some interest rates falling below 4.5 per cent, many renters are contemplating becoming buyers. For many, when they do their sums, it just makes more sense if they can get a deposit together.

In particular, we’re seeing more young Aucklanders opting out of their central rentals to buy further afield. It seems many are now more willing to accept a longer commute if they can put a foot on the property ladder. Century 21 offices in areas such as South Auckland’s Manurewa will tell you that more ‘city kids’ are coming out every day.

We’re also seeing more Kiwis buying apartments as their first home option, while others now view apartments as a way to stay in their community, free up some capital and create an easier lifestyle.

With the average Auckland house price now a staggering ten times more than the average household income, apartments offer a more affordable entry point.

It has been a long time coming but the cranes are back in business, with a record number of multi-residential apartment developments going up.

Nearly two decades ago New Zealand’s leaky building crisis shook significance confidence out of apartment and town house sector, then the Global Financial Crisis saw new builds disappear from our cities skylines. However, a return of confidence and more safeguards around construction and capital gains are seeing our retail banks willing to lend on apartments.

Those promoting the many apartment developments in and around Auckland at the moment will tell you they’re getting a lot of baby boomers and empty-nesters buying.

Long gone are the days when apartments were associated with overseas students in the CBD. Baby boomers wanting to stay in Auckland in particular, are increasingly looking to high quality apartments. Many are prioritising safe and attractive environments with good capital gain prospects, which can be easily locked up when they travel.

Auckland’s future growth is highly likely, and this in turn gives plenty of assurance to Auckland property buyers and owners knowing that any softening will not be long term.

As I mentioned earlier, we’re now also seeing some good growth in other cities and centres. The media is regularly reporting on the young family who’s moved to Northland, or down the line to the Waikato or Bay Of Plenty, selling their $1m-plus home in the big smoke and buying something much bigger for half the price, two hours away. Some dub this the donut effect. Regardless of its name, I believe the strong real estate growth we’re now seeing in many of New Zealand’s regions, particularly those near Auckland, will continue for some time to come.

Lower prices in the regions and a great lifestyle, helped by the workplace becoming more flexible and mobile, not to mention ongoing transport and information technology improvements will all likely lead to a regional renaissance in New Zealand. This is just the start of it.

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LIFESTYLE

YOUR CULTURAL TO-DO LIST Get out and about this winter and explore what’s on in your city.

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WINTER | 2016

SYDNEY FILM FESTIVAL (8TH JUN – 19TH JUN) The Sydney Film Festival is one of the world’s longest running festivals dedicated to film. With the program spread across the city at a vast range of venues, there’s plenty of feature films, documentaries, short films and animation from around the world to see.

Each year, the most highly anticipated program is the Official Competition which encourages and recognises all that is innovative, provocative and compelling. Another highlight this year will be the ‘Essential Scorsese’, curated by leading film critic David Stratton. With such a wealth of local and international talent, this festival is a must for all film lovers.

AUCKLAND FESTIVAL OF PHOTOGRAPHY (2ND JUN – 24TH JUN) The Auckland Festival of Photography is the only photographic Festival in New Zealand. The event that spans three weeks attracts patrons who are artists, students, curators, amateurs, academics and professionals. What makes it so great is that it’s held across the city at various sites ranging from major galleries to non-traditional viewing spaces. Explore the diverse and compelling work of both emerging and established artists, and examine the subjects that captured the awe and curiosity of the photographer.

MELBOURNE WRITERS FESTIVAL (26TH AUG – 4TH SEPT) The Melbourne Writers Festival is a winter celebration for all those who love to read, write and think. Each year, hundreds of writers from Australia and around the world convene in Victoria to discuss their ideas, inspiration and story-telling method through the course of a meticulously curated program. If that’s not enough, there are also a range of other events and activities planned for foodies, travellers and just those who want to relax.

BRISBANE TIMES GOOD FOOD MONTH (1ST JUL – 31ST JUL) Calling all foodies! This is the perfect winter festival for you. The month long festival brings you the latest in culinary delights originating from all over the world. Bars, cafes, restaurants and other venues will be playing host to special

events all centred on the love of food.

Delight your tastebuds with offerings from across the city, and don’t forget to visit the Night Noodle Markets which will showcase the best in Asian cuisine that Brisbane has to offer.

CANBERRA TRUFFLE FESTIVAL (3RD JUN – 31ST AUG) Another one for the foodies, this niche festival is all about truffles. Celebrating the Black Perigord Truffle harvest, there’s plenty to do at this time of the year. Each year, over 60 venues participate in the festival to host a range of programs.

Breakfast, lunch or dinner, there’ll be truffle-themed degustation around the city to showcase its intoxicating aromas and surprising versatility. Once your truffle cravings have been satisfied, go on a truffle hunt to find those prized gems for yourself. Otherwise, you can also take a cooking class or visit the farmers markets.

PERTH INTERNATIONAL JAZZ FESTIVAL (3RD JUN – 5TH JUN) This is a festival that cannot be missed.

Fifty incredible jazz performances will be presented in various venues across the city. This is a time when Perth is vibrant with music in the air. With local, national and international acts showcasing their talent, the Perth International Jazz Festival aims to bring jazz to the wider community in a fun and accessible way.

DARWIN FESTIVAL (4TH AUG – 21ST AUG) The Darwin Festival is an 18-day festival that has something for all. A celebration of all things arts – dance, music, theatre, and more, the festivities are held at the aptly named Festival Park as well as various venue across the city. As well as performances, showcases and installations, there’ll be delicious food stores, and pop-ups around the city.

ADELAIDE CABARET FESTIVAL (10TH JUN – 25TH JUN) The Adelaide Cabaret Festival is an annual festival that showcases the best in local, national, and international cabaret performers. Kicking off on the Queen’s Birthday long weekend, events will be held across various venues across the city. This year’s performers include Dita Von Teese, Bobby Fox, Megan Hilty and more.

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TECHNOLOGY

TECH ESSENTIALS TwentyOne checks out the latest from LG and Sony.

LG 55 AND 65” FLAT SCREEN 4K UHD OLED TV (MODEL EF950T) Offering a powerful combination of 4K Ultra High Definition and OLED technologies in 55 and 65-inch versions, the EF950T is the first LG TV in Australia to be HDR (High Dynamic Range) compatible and the first flat screen LG OLED TV in Australia.

The EF950T offers a breathtakingly beautiful viewing experience with perfect black and amazingly vivid colours for which LG OLED TVs are well known. The EF950T series also comes with the features consumers know and love, such as webOS 2.0 for simple Smart TV navigation; a 6-step Ultra HD Upscaler that maximises resolution quality of available source content; and rich premium sound by harman/kardon® - all packaged into a slim flat panel unit that adds a spectacular design element to any living room.

RRP: 55” - $5,499 65” - $8,999

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WINTER | 2016

SONY PXW-Z150 COMPACT PROFESSIONAL CAMCORDER The Z150 is the world’s first professional camcorder to feature a 1.0 type stacked CMOS image sensor. This breakthrough in sensor integration delivers a 2x increase in read-out speed compared to a conventional 1.0 sensor for stunning 120fps slow motion in Full HD and spectacular 4K recording. Full pixel read-out helps realise the full potential of the big 1.0 type sensor - there’s no need for pixel binning or line skipping which can result in moiré effects.

The large 1.0 type sensor is also brighter, has higher resolution and offers more bokeh with a shallow depth of field, allowing you to create beautiful, cinematic images that will inspire you and delight your clients.

RRP: $5,400 (from Videopro)

906L LG DOOR-INDOOR TM FRENCH DOOR REFRIGERATOR (GP-5D906BSL) The latest luxury innovation from LG in French four-door fridge configuration combines functional design and clever technology, ideal for the modern kitchen. Packing a world-first triple-filtered ice and water function for refreshing filtered water all year round, the refrigerator also comes in a knockout diamond black stainless steel finish that is fingerprint-resistant, making it a sleek and stylish addition to any kitchen. Also featured is a new function called ‘Measured Fill’, which lets users pour 1 of 7 preprogrammed amounts of water without using a measuring jug.

RRP: $6,699 (available from select Harvey Norman and Domain Stores)

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PROPERTY

ITEMS THAT HEAT UP DEDUCTIONS Bradley Beer advises on how to make the most of your investment property this tax season.

Property investors who would like obligation free advice on the depreciation deductions available for their investment property should contact one of the expert staff at BMT Tax Depreciation on 1300 728 726.

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WINTER | 2016

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ith the winter season upon us, a number of property investors may be thinking of doing nothing more than curling up under a rug in front of a wood fire with a good cup of coffee. While this might sound tempting, it’s also tax season and the perfect time to obtain a comprehensive tax depreciation schedule that ensures you maximise the deductions you can claim from an investment property.

Many of the items which make your home a cosy place to spend the winter months can also be found within an investment property. When an investor asks a specialist quantity surveyor to complete a depreciation schedule for their property, they will perform a detailed site inspection to make sure that no items are missed.

One of the reasons investors often miss out on deductions at tax time is because they don’t seek expert advice.

Quantity surveyors are recognised under Tax Ruling 97/25 as one of a few professionals with the knowledge necessary to estimate construction costs for depreciation purposes.

Items often missed as deductions that can be claimed from an investment property are illustrated in the above graphic of the depreciation claims available in the first financial year.There are two types of claims available in any income producing property as demonstrated by the graphic above; capital works deductions and plant and equipment depreciation.

Capital works deductions apply to structural and fixed items within a residential property; for example the kitchen cupboards, walls, doors, drawers and shelving. Structural items will depreciate at a rate of 2.5 per cent per year over forty years, so long as construction commenced after the 15th of September 1987. An investor could claim $550 in the first financial year for the kitchen cupboards, $235 for the bookshelf drawers and shelving and $169 for the fireplace in the above property. Tiles around the fireplace would also result in $23 in capital works deductions in the first year for the owner.

Any of the easily removable plant and equipment assets found during a site inspection of a property also entitle the owner to claim depreciation deductions.

Examples of plant and equipment assets

The depreciation deductions in the above example have been calculated using the diminishing value method. Capital works deductions have been calculated at a rate of 2.5 per cent. The immediate write-off rule and low-value pooling have been applied for applicable items.

as demonstrated above include ovens, rangehoods, furniture, light fittings and curtains.

Unlike capital works deductions, depreciation for plant and equipment items are calculated based on an individual effective life and depreciation rate set for each asset by the Australian Taxation Office. In the example, an investor could claim a total of $894 in depreciation deductions in the first financial year for all of the furniture found, including the dining table, the coffee table and the lounge. Plant and equipment assets in the kitchen such as the oven and the rangehood would allow them to claim a further $1,191 in first year deductions, while light fittings represent a $77 first year claim. Floating timber floors will result in $560 in first year deductions.

In total, an investor is able to claim $977 in capital works deductions and $3,189 in plant and equipment depreciation, which makes a grand total of $4,166 in depreciation deductions in the first year for this area of the property alone.

Additional deductions will also be available for the walls, doors, ceiling and joinery and any other eligible capital works or plant and equipment items found in the rest of the property. 

ABOUT BRADLEY BEER

Bradley Beer (B. Con. Mgt, AAIQS, MRICS) is the Chief Executive Officer of BMT Tax Depreciation.

Bradley joined BMT in 1998 and as such he has substantial knowledge about property investment supported by expertise in property depreciation and the construction industry.

Bradley is a regular keynote speaker and presenter covering depreciation services on television, radio, at conferences and exhibitions Australia-wide.

Please contact 1300 728 726 or visit www.bmtqs.com.au

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PROPERTY

WHY YOU SHOULD CONSIDER INVESTING IN A SECOND PROPERTY

Chris Gray gives advice about expanding your real estate portfolio.

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WINTER | 2016

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f you’ve held a sole property for the last few years, this winter could be a great time to start thinking about your next purchase.

You can’t go past residential property when looking for a profitable long term investment. I’ve been investing in property since the age of 22 and over this time I’ve learned the benefits of property investment can often far outweigh other investment avenues, such as shares and business.

Residential property is a solid basis for any wealth creation strategy. It’s a safe asset that doesn’t normally bounce up and down in value and it will never be worth nothing – as it is solid bricks and mortar, and land.

Despite the merits of property investment, almost four in five (72.8 per cent) Australians only own one investment property, so why don’t more people take the plunge to investment property number two?

There are several deterrents that hold people back from a second investment, which include extra finances needed to fund the difference between rent and a mortgage, a fear that the market will crash, and a belief that it’s best to pay off your home and non-deductible debts before you reinvest.

While the above arguments have some merit, the interest you save from paying off your debt first is nothing compared to what you could make through a second property investment. Rather than paying one dollar off your home loan, you might be better leveraging that dollar and buying five dollars of property which rises by more than you might be saving. From my experience, if you buy a property at a reasonable price and hold on for the long term, you’ll make money.

Investing in a second property isn’t necessarily a big risk, especially if you already have existing equity behind you.

When it comes to purchasing a home, the fact is, most people make a successful investment. As you’re going to live in it,

you do lots of research and have a good understanding of what local buyers want and what they’ll pay. If people use this same logic for further property investments they will generally make money too.

So, if you have made money from your first property, doesn’t logic suggest you keep repeating to make more money?

While the current market does have higher property prices, making it harder to raise a deposit, you could use the equity in your home and other investments to finance your next investment.

Arrange a professional property valuation.

Consulting with an independent valuer prior to any property purchase is always worthwhile as they are not emotionally tied to the investment and can provide a professional opinion of a property’s worth. Make sure you also have relevant building and pest inspections conducted to ensure you won’t be faced with any surprises down the line. 

From your first property purchase, there’s a good chance you might have experienced 10 to 30 per cent growth which is now potential equity. You may be able to use that equity to pay investment costs such as a 20 per cent deposit, five per cent stamp duty and buyer’s agent fees.

The cost of putting off your decision to invest again can be very high, so if you can afford to buy a second property, why not make the decision to invest this winter. Buying a second property doesn’t have to make your lifestyle suffer – it could actually enhance it.

TIPS FOR INVESTING IN A SECOND PROPERTY Don’t fear the gear. When it comes to property investment, fear of debt is one of the biggest hurdles to get over. Even though being in debt does make you susceptible to rising interest rates and greater overheads, it’s a way of extending your reach. Banks, governments and corporations all use debt to grow. It’s business. If you’re worried about getting yourself into debt through a second property investment, go through the numbers with an accountant who specialises in property.

Get your finances in order. Create your own personal balance sheet to determine exactly how much you owe and how much money you need. Having a clear picture of your financial position will help determine whether a second investment is the right option for you.

ABOUT CHRIS GRAY Chris Gray is CEO of Your Empire, a buyer’s agency which builds property portfolios for time-poor people – searching, negotiating, renovating and managing property on their behalf. Chris’s team buys 1-2 properties a week and often spends $5m+ a year renovating on other’s behalf, providing a unique insight into market conditions and buyer and seller sentiment. Chris hosts ‘Your Property Empire’ each Friday on Sky News Business channel, where he interviews various heads of property research companies and major industry figures. Chris is a qualified accountant, buyer’s agent and mortgage broker.

For more information visit www.yourempire.com.au, www.chrisgray.com.au and follow Chris on Twitter: @ChrisGrayEmpire.

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