The Property Chronicle - October 22

LetterfromBrentWorthington

LJHookerHomeSmart

FeatureListing DruryListings

REINZ-PressRelease(link)

REINZ-MonthlyPropertyReport(link)

REINZ-MonthlyHousePriceIndex&Data(link)

REINZ-CapitalGain&RentalYield(link)

PropertyManagement-RentExchange

TheInsider-LoanMarket

Meet

Salesperson

Thetideischangingforthepropertymarket,andafteranumberofslowand uncertainmonths,asparkhasre-enteredthemarketwithrealestateagents seeingmoreinterest.

InthelatestRealEstateSurveyoflicencedrealestateagents,bytheReal EstateInstituteofNewZealand(REINZ)andeconomistTonyAlexander,there wasalotofpositivitysharedastheresidentialpropertymarketstartsto change.

ForthefirsttimesinceSeptember2021,agentsreportedseeingmorefirst homebuyersinthemarket."Theseyoungpeoplefaceachoice;continueto standbackfromthemarkethopingtocatchthelastfewpercentagepointsof thedeclineinhousepricesonaverage,ortakeadvantageofthedoublingof listingsfromayearagoandwillingnessofvendorstonegotiatetosecurea homeinwhichtoraisefamily"Alexandersaid.

Therelativelysharpimprovementinthismeasuresuggestsafirmfocusback onpurchasingforfamilyreasonsratherthantacticalcycleplaying.Peopleare creatingmorefoottrafficatopenhomes,whichisgreatnewsforsellerstrying togetinterestfromprosepctivebuyers."ForthefirsttimesinceFebruary2021 oursurveyhasrevealedmorerelaestateagentssayingtheyareseeing increasednumbersofpeopleattendingopenhomesthansaytheyareseeing fewer",hesaid.

Allpropertyjourneysstartwithapropertyappraisal,andtherehasbeenafirm increasinthenumberofappraisalrequestesbeingmade.

BrentWorthington

PrincipalandLicenseeAgent

LJHookerDrury&PropertyManagement

GreatSouthroad,Drury

Buyersstillholdthesamemainconcerns,andthatishighinterestrates, accesstofinanceandtheriskofbuyingwhenwatchingpricesfallfurther.

"Butitisimportantnonethelessinsignallingthatpeopleacceptthehousing marketisvastlydifferentfromwhatitwasbefore,'Alexandersaid.

"So,whatdoesthismeanwhenifweareinthissocalledendgames?Akey thingis,don'texpectanyonetobecertainaboutwhenhousepricesstop fallingonaverage,whentheystartrisingagainastheyhaveforacoupleof centuries,andthespeedwithwhichtheywillrise.Theendofthesurgelast yeartookalotlongertohappenthanIexpectedbecauseofthelistingsplunge andFOMO(fearofmissingout)surge."

"Themainimplicationisthataseachmonthnowgoesbyitgetsriskiertokeep holdingoutfortheabsolutebottomofthecycleifyouareabuyer".

Alexandersaiditistimeforbuyerstostoptryingtopickthebottomofthe housepricecycleandfocusonwhatyoureallywant,whichisahousetoraise theirfamilyinortosettleforthenextdecadeortwo.

BrentWorthington

andLicenseeAgent

LJ

Howtostyleyouroutdoorspacetosellinspring

From your front door to your outdoor living area, styling your outdoor spaces is just as important as styling inside your home when preparing to sell your home.

The spring selling season has arrived with gusto! But how do you give your home the advantage and make it stand out to discerning buyers?

We believe the answer is styling. It really is a good idea to style a home appropriately when selling and statistics show that it can boost the final sales price by up to 10 percent. It can also make a big difference to the number of people who are interested in the property and how quickly it sells.

So, styling helps. But whilst you do need to look at the whole home, we thought we would share with you some tips on how to make the most of your outdoor space. After all, spring is here, and we love to be in the great outdoors.

Give your entrance the wow factor

You certainly would have heard the saying that “you never get a second chance to make a first impression”. Well, this statement is definitely true for the front of your home. This is the first thing people see, so you want to make sure your property looks great from the street. As soon as a buyer arrives, you want them to be excited about coming in to take a closer look.

With the garden starting to burst into life, it is undoubtedly the best time of year to make the most of what nature has to offer. So roll up your sleeves and start tidying up the front yard. If you have a front gate, make sure it is in good working order. It’s the first thing people come into contact with, so check yours out and get it swinging.

Add a fence around your property if you don’t have one. This will allow you to separate your home from the street, is appealing to families and pet owners and you will have the added advantage of making your front yard seem bigger – amazing but true.

Clean out your gutters and make sure your roof and windows are clean and free of spider webs. Powerwash your path and keep it swept before any open home inspection.

Add beautiful spring flowers

You should spend some time weeding and trimming the garden beds, and because it’s spring, add some beautiful spring flowers. Just make sure they will still be in bloom when you open your home for inspections.

If you don’t have an established path, consider laying one to help guide your buyers to your front door. Plain white pavers look great against a green lawn, but there are many great options to choose from depending on what your budget and taste is like. They will make a big difference to your entrance.

Don’t worry if you don’t have a front yard because you can make an impact by adding window planters, some clean shutters, good lighting and clearly visible house numbers.

The outdoor space can be a strong selling point

It’s no secret, Kiwis love being outside. To have a garden or courtyard where we can entertain friends and family or to have a space where the kids can play is really important to many buyers. It's effectively another room to enjoy and another strong selling point for your property.

value

Show your buyers how they could use this space.

Take advantage of the warmer weather and add a great outside table or refresh the one you have. Maybe even set the table with brightly coloured placemats and cutlery and add some flowering plants to the middle. Put up an umbrella and some colourful cushions and the space will look great!

Another tip is to think about what your neighbourhood is known for. Are you near a beach? Then perhaps you could add a practical outdoor shower. Do you live in a grassy suburb? A hammock might help create the right feel, or is it a family-friendly suburb, maybe a sandpit or a swing in a tree would do the trick.

Help prospective buyers project themselves

Creating different zones in your garden works well. As it does inside the home, it helps prospective buyers project themselves. By zones we mean, an area for eating or entertaining, an area of mixed planting, perhaps with a focal point such as a

fountain or feature plant. Or if you have the space, adding an area for kids to play can be really enticing for the family buyers.

Many homes today, particularly in the inner city don’t have large gardens. Often there is a small courtyard, so it’s important to maximize this space.

The first step may be to create a focal point like a water feature, statue or urn. This should be placed at the furthest point from the entrance so your buyer’s vision is drawn to a distance, giving a sense of space. You can also give an illusion of space by paving the entire area with large pavers. This will make the ground look wider and less busy. Don’t use any dark colours in your courtyard structures as these reduce the perception of space.

If you have a small balcony, add a cafe table and chairs, a planter and some fresh spring flowers on the table. Your buyers will think what a lovely spot to eat.

Stunning

FeatureProperty

Thebeautifullylandscapedgroundshavebeencarefully plannedtoensureminimalcarewhiletherearofthe propertyoffersapeacefulandtranquillocationidealfor relaxingafterabusydayatwork,diningalfrescoon balmysummerevenings,entertainingguestsor providingasafeandsecurehavenforchildrenandpets.

LocatedinhighlydesirableStonefields,commutingto Auckland'sCBDtakesapproximately20minuteswhile theInternational/DomesticAirportsareaneasy30 minutedriveoutsidepeakcommutingtimes.The primaryschoolatStonefieldsoffersconvenienceto parentswithchildrenwhileanumberofAuckland's prestigiousprivateschoolsarelocatedinthe surroundingarea.

10 Regis Park Drive, Pukekohe NZ

bl �2

Spacious Gem in Pukekohe

This immaculate and spacious home is perfect for families of all ages. Spread over two levels, the ...

DruryListings

13th, Oct 2022

ForSale By Negotiation

View By Appointment

Andrew Fisher 027 542 5500 andrew.fisher@ljhooker.co.nz

30 Franklyne Road, Otara NZ

bl �1

URGENTSALE-MAKEAN OFFER

Currently tenanted, this 985m2 site (more or less) is a developers dream. Zoned Residential (9D), re...

ForSale By Negotiation

View ByAppointment

Lina Roban 021 022 88521 lina.rob@ljhooker.co.nz

1 Luke Place, Otara NZ §s b2 �2

URGENTSALE-MAKEAN OFFER

Prominent site

Prime Location

Hugedevelopmentpotential

14 Toscana Drive, Karaka NZ §4 b2 �4

Krackain Karaka

Sited for all day sun, the indoor/outdoor flow from the open plan kitchen/family room to the outdoor...

ForSale Price By Negotiation

View ByAppointment

Andrew Fisher 027 542 5500 andrew.fisher@ljhooker.co.nz

41 Tribute Loop, Takanini NZ §3 b2 �1

TREASUREONTRIBUTE

Perfectly positioned for professional couples, first home buyers, investors, downsizers and smaller families......

ForSale Price By Negotiation

View Sunday October 16th, 02:30PM03:15PM, Sunday October 23rd, 02:30PM03:15PM

Nav Johnson 027 827 2213 nav.johnson@ljhooker.co.nz

ForSale Asking Price $865,000

View Sunday October 16th, 0l:15PM 02:00PM

Nav Johnson 027 827 2213 nav.johnson@ljhooker.co.nz

16 Stellata Court, Randwick Park NZ §3 b2 �2

Brick& TileBeautyIn The Park.

If it's the easy care of a brick and tile home you're after, then this one's for you. Situat...

ForSale Price By Negotiation

View Sunday October 16th, 12:00PM 12:45PM, Sunday October 23rd, 12:00PM 12:45PM

Nav Johnson 027 827 2213 nav.johnson@ljhooker.co.nz

Drury

35 Briody Terrace, Stonefields NZ

§4 bl �4

Stunning In Stonefields

Stunning, immaculate, pristine, better than new, beautiful. Superlatives abound. In terms of design,...

ForAuction

Auction Sunday November 6th, 02:00PM

View Sunday October 16th, 0l:30PM

02:15PM, Sunday October 23rd, 0l:30PM 02:15PM

Brent Worthington 029 296 5362 brent.worthington@ljhooker.co.nz

drury@ljhooker.co.nz

Brent'sProfile: BrentWorthington

&LicenseeAgent)

LJ HookerDrury

e:

Brent Worthington is definitely a quality over quantity man. When you bring Brent on board, you’ll find that accumulating listings is far less important to him than making each one as good as it can get. He prides himself on telling it like it is - the good, the bad and the ugly, knowing you’ll be able to make better decisions with a person and information you can trust.

Complementing Brent’s practical and credible approach is a background full to the brim of industry knowledge and business expertise from 30 years working within the construction industry. His capabilities have been well proven as a highly successful business owner importing natural stone and ceramic tiles, then as a consultant and he’s still regarded as a leading authority in this field.

His personal interest in real estate over the years, plus the experience of buying and selling several of his own properties has shown him what a difference a good salesperson can make. Consequently, he places huge emphasis on customer satisfaction, attention to detail and conducting his business with a genuine duty of care. Brent has gained many awards as a business leader during his 12 year tenure in Real Estate.

Outside of work Brent’s a proud father who’s happiest when he strikes a good balance between work, family, and friends. Not averse to strapping some skis on in the winter and sport fishing in the summer, he’s also a committed board director and big fan of both Rugby and Rugby League.

Now his son Nick is fully grown he and his wife are rediscovering their love of travel throughout New Zealand and abroad.

REINZ

RELEASE

REINZ CAPITAL GAINS AND RENTAL YIELD

Property Management

Governmententicespropertyinvestorswithtaxbreaks

WithashortageofrentalpropertiesacrossNewZealand,thegovernmentplanstooffer tax incentivestoenticeprivatedeveloperstoinvestinbuildingmorerentalhomes.

Thetaxbreakswillbeforinvestorswhoofferlongtermbuild-to-rentpropertiesfortenantsforatleast 10years.

HousingministerMeganWoodsannouncedthese measureswouldapplytocertaintypesofnewand existingbuild-to-rentdevelopments,andtheywould beexemptfrominterestlimitationrulesinperpetuity.

"Toqualify,developmentsneedtooffertenantsleases ofatleast10years.Tenantscanaskforshorter agreementsiftheywishandthedevelopmentwillstill qualifyfortheexemption,"Woodssaid.

Tenantswillbeabletobreaktheiragreementsatany time,witha56-daynoticeperiod.

“Webelievesecurityoftenureiscriticalforpeoplewho arerenting.Thisrequirementwillenablepeopleto settleandpersonalisetheirhomes,reducehowoften theymustfindanewplacetoliveandallthose associatedmovingcosts,especiallyaspeopleface costoflivingchallenges,andhelpthemtobuildand maintainconnectiontotheircommunity.

“Weexemptnewbuildsfromtheinterestlimitation rulesforaperiodof20yearstohelpsteerinvestors awayfromthelimitedpoolofexistingpropertiesand towardsnewhousingsupplytogetAotearoaNew Zealandoutofahousingcrisisthatwasdecadesin themaking.”

Interestwillnotbephasedoutforexistingbuild-torentassets.

Taxpayerswhoholdexistingbuild-to-rentassetswill notbesubjecttotheinterestlimitationrulesfrom1 October2021to31March2022.

Fornewbuild-to-rentassets,initialinvestorswillbe abletodeductinterestforaslongastheyholdan assetandoperateitasabuild-to-rent development.Anysubsequentinvestorcandeduct interestforaslongastheassetisheldandoperated asabuild-to-rentdevelopment.

Woodssaidthebuild-to-rentsectorwouldhelp bringinmorehousesthatwereaffordableforlowto moderate-incomehouseholds.

"Build-to-rentcanhelptocontinuethecurrent momentumofnewsupplyandimprovethequality ofrentalhousingwithnewwarm,dry,securehomes."

Whileitisunknownhowmany,orifany,existing build-to-rentdevelopmentscurrentlymeetthe minimum10-yeartenancyrequirement,therewillbe atransitionperiodallowingthemtofulfilthem.

ThisisagovernmentmovePropertyCouncilNew Zealandsupports,sayingitwillhelpunlock opportunitiesformorebuild-to-rent.

“Wesupportthegovernment’sdesiretoenable build-to-rentinordertoprovidewarm,dryrental homesthatofferKiwislong-termsecurityoftenure,” PropertyCouncilNewZealandchiefexecutiveLeonie Freemansaid.

Freemansaidthisstrategycouldresultin25,000new homesbeingbuiltoverthenextdecade.

Stressreductionstrategiesforrentalinspections

Rentalinspectionsareinherentlystressful.Thereisanabundanceofcleaningfollowedbyan overwhelmingworrythatthelandlordmightfindsomethingwrong.Rentalinspectionscan evenbestressfulforthelandlordtoo.However,rentersandlandlordsalikeneedtothink aboutrentalinspectionsinadifferentlight.

Ratherthanbeingapain,theseinspectionscan provetobeaninvaluableopportunity.Renterscan raiseconcernsandreceivevalidationforlooking aftertheirrental.Whereaslandlordsareafforded theopportunitytocheckontheconditionand upkeepoftheirproperty.Realisingthebenefitsof inspectionscanremovestressfromtheequation.

Howtoprepareforaninspection

Whenthinkingaboutpreparingapropertyfora rentalinspection,agreatplacetostartisthe originalpropertyconditionreport.Thatway,renters knowtheconditionthattheirlandlordwillbe expectingthepropertytobein.Thispropertyreport canalsohelplandlordsprepareforwhattoexpect duringtheinspection.

Preparingforinspectionscanbeseamlesswhen youareproactive.Ifrentersnoticeaproblem,speak up.Thiscouldmeaninformingthelandlordifthe maintenanceissuefallsundertheirdomainorfixing theissuethemselves.Thismeansthatcome inspectiontime,therearenosurprises.

Landlordsexpecttheirpropertiestobecleanand thebestwaytopreparetomeetthisexpectationis byactuallycleaning.Landlordswillparticularlylook atthecleanlinessofthekitchenandbathroom whilstalsocheckingontheconditionofthecarpets andgarden.Therefore,beforetheinspection,clean theseareaswithathoroughhand.Thiswillensure thattenantshavedonetherightthing,helping landlordsgivethemapassfortheinspection.

Onceitisclearwhatisexpectedoftenantsand landlordsduringtheinspectionprocess,thereisno reasontostress,aseachpartyknowstheirroles.

Pointstoremember

Agreateliminatorofinspectionrelatedstressis knowingwhentoexpecttheinspections.Itisalso importanttonotethatlandlordsmustgivetenantsa minimumof48hoursnoticebeforecompletinga rentalinspection.

Tenantmatters

Eliminatestressbycompilingachecklistof activitiestocompleteinordertopassan inspection.Importantpointstoincludeare:

Checkgeneralconditionandcleanliness. Monitorwetareasformouldandpotential waterdamage.

Checkhealthandtidinessofthegarden,trees andlawn.

Inspecttheexhaustfansandclean accordingly.

Makesurethattheovenisingoodworking orderandmeetsastandardofgeneral cleanliness.

Landlordmatters

Ratherthaninspectingapropertyaimlessly, landlordsshouldcreateachecklistofthingstolook outfor.Iftherentersmeettheserequirements, landlordswillthenknowforsurethatthepropertyis beinglookedafter.Requirementscouldinclude:

Testthatalldoorsandwindowsfreelyopen, closeandlock.

Checkforanysignsofleakytapsorpipes. Ensurethatallwaterflowsfreely.

Examinetheconditionoftheweatherboards, bricksortilesforsignsofcracksordeterioration. Observeareasofthehouseforindicatorsof dampnessorwoodrot.

Checkthehotandcoldwatersupplyintermsof leaks,temperatureandpressure.

Whyisaninspectionnecessary

Rentalinspectionsareanecessarypartofthe rentingprocess.Thisisduetothefactthatboth rentersandlandlordsneedtobeuptodateonthe stateofthepropertyinordertoavoidissuesdown theline.

Rentalinspectionscanbegoodnewsforboth landlordsandtenants.Firstly,forlandlords,it providesagoldenopportunitytopersonally evaluatethestateoftheproperty.Byconducting inspections,landlordscanensurethateverythingis inworkingorder,givingthempeaceofmind.Itcan alsobeusedasanopportunitytonipissuesinthe budbeforetheybecomemajorand/orcostly problems.

Secondly,fortenants,inspectionsareanidealtime

tomakeanyconcernsheard.Thismeansthat insteadoftryingtoconvincealandlordthata propertyneedsmaintenanceissuesrepaired,the landlordcanseeforthemselveswhatneedstobe fixed.

Rentalinspectionsprovideanexchangeof informationthathelpsbothlandlordsandtenants towardskeepingapropertyingoodworkingorder. LJHookerpropertymanagerscanhelp

Rentalinspectionsdonothavetoaddstresstothe livesoftenantsandlandlords.Instead,theycanbe treatedasanopportunitytomakesurethatthe propertyisinthebestconditionitcanbe.A circumstancethatismutuallybeneficialforboth tenantsandlandlords.Thekeytoeliminatingthe stressandthusgettingthemostoutofrental inspectionsisbeingprepared.Forrentersthis meanstakingthetimetocleanthehousewhilefor landlordsthismeanscompilingalistofthingsthey wanttocheckwhilstintheproperty. Anotherwayforlandlordstoreducethestress aroundinspectionsistohireaprofessional propertymanager.Thevalueofaproperty managercanbefoundthroughouttheentire rentalpropertyprocess.Propertymanagerscan doeverythingfromadvertisingapropertyand findingtheappropriatetenantstomanagingthe conditionreportprocessandinspectingthe propertyonaregularbasis.Therefore,aLJHooker propertymanagercaninformtenantsabouthow besttomaintainthepropertywhilealsoensuring thatthelandlord’spropertyisbeingproperly lookedafter.

The Reserve Bank of New Zealand is holding its next official cash rate meeting on October 5 and is highly likely to make another increase to the cash rate. This could result in a further increase in interest rates, especially the floating interest rates.

In the meantime, here’s what’s making news in property and finance:

• Rentalmarketslowingdown

• Quickguidetonon-banks

• Govttweakspropertytaxrules

• Mortgageesalesexplained

click here to view click here to view click here to view clickheretoview

Happy spring! Isn’t it wonderful to see the days getting longer and warmer? Spring also means we’re getting close to the end of the year. If you want to buy a new home or refinance an existing loan in 2022, it’s important you begin the process now.

in touch if you need any expert guidance.

Regards

Keith Jones

SuperGold welcome here

your golden opportunities now