City Realty Group LIVINGSANDRINGHAMSEPTEMBER
City Realty Group Page 3 CONTENTS .............................................................................. 04. Don’t believe the headline hysteria –fixed rates won’t rise another 1% .............................................................................. 06. Featured Property .............................................................................. 12. Local Feature .............................................................................. 14. Listings .............................................................................. 44. Support Local 46. Kiwis trust the financial system, but often feel financially insecure 51. Ray White Sandringham 52. Meet The Team
Sandringham | Living Magazine4 Don’t believe the headline hysteria – fixed rates won’t rise another 1% - Tony Alexander OFFICIAL CASH RATE: FALL & RISE
Not only that, a rise in the cash rate to 4% is fully factored into current fixed rate pricing. As the cash rate gets pushed higher in the next three months, fixed lending rates will not go up as well except maybe the one-year rate which feels a tad low at the moment. Floating rates will definitely go up. The upshot of all that I’ve written above is this. As you see predictions of the Reserve Bank raising its cash rate another 1%, you will be invited by the headlines to believe that fixed rates will also rise another 1% and the housing market will be newly slammed. It will not because they will not. The only interest rate pain left is for people who already have a mortgage and are rolling into a rate higher than the one they previously had. These are people who already have a house and 99% of them are not in the market looking for another one. For the many tens of thousands of Kiwis who are, the impact of factoring in higher fixed rates has already been felt and now that impact has eased 0.2% 0.4% since June. Food for thought as you contemplate the housing market’s progress into the start of 2023 when things will likely look quite different, especially now my survey of mortgage advisers with mortgages.co.nz tells us that first home buyers are reentering the market.
Tony Alexander is an independent economics commentator. Additional commentary from him can be found at www.tonyalexander.nz
Second, a lot of data have appeared around the world showing rapidly weakening economic conditions in the likes of the UK, Europe, United States and China. Slowing growth and recession always lead to falling inflation and that means interest rates set by central banks being cut earlier than previously allowed for.
ANALYSIS: A year ago the official cash rate set by the Reserve Bank was at a record low of 0.25%. Now it sits at 3.0% and looks highly likely to hit 4% by the end of the year, after which further rises may not occur as long as some solid signs emerge of inflation heading back down again.
But since then three things have changed. First, central banks have raised rates rapidly and made very strong statements regarding their determination to make sure inflation is brought back down. They have re-established their credibility as fighters of high inflation and there is faith that they will succeed and won’t still be playing catch-up monetary policy tightening in the second half of 2023.
Why is this fixed rate (and all the others as well) falling when monetary policy is being tightened? And why won’t further rises lead to higher fixed rates? Think of it this way. The investors who lend money to the banks at a two-year fixed rate to in turn lend out fixed two years to you and I face an alternative. They could also place the funds into a short-term rollover investment tied closely to the Reserve Bank’s cash rate. When they decide what to do they start by forecasting where they think the cash rate will go for two years. When investors were doing that exercise in June and the months before, they were very scared about high and rising inflation and lack of credibility of the central banks as inflation fighters after keeping monetary policies much too loose last year and causing a lot of the currently high inflation. As a result, the investors anticipated the likes of our Reserve Bank taking the cash rate to as much as 4.7% and not being able to drop it for a long time because of entrenched inflation. Their prediction of the average cash rate for the next two years was fairly high and that caused them to demand a high rate if they were to lend fixed for two years.
This article was first published on OneRoof.co.nz and is republished here with permission.
Because of the rising cash rate the usually very popular two-year fixed mortgage rate has risen from a low of 2.49% to the current 5.39%. I could stop writing here and you would be left with the impression that because the near 3% rise in this fixed rate matches the near 3% rise in the cash rate that the two move together.
On that basis you’d be left thinking that a further 1% rise in the cash rate to 4% will mean the two-year fixed mortgage rate will go to about 6.4%. But that is not how things work.
Third, some of the key drivers of inflation have been backing off. International freight costs are falling as are prices for commodities ranging from oil to food and minerals. Now, investors thinking about where cash rates will go over the next two years don’t think they will reach 4.7% here and maybe won’t go much above 4% if they do at all. In addition, these investors see a good chance that our Reserve Bank will start cutting interest rates before the end of 2023.
In fact, despite the cash rate going up we may well have seen the peak in the two-year rate of 5.69% back in the middle of June.
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The upshot is that investors have been happy to demand less compensation from banks for lending them money at a fixed rate for two years (and three years, four years, etc.) because they now see lower cash rates than before.
FEATURED PROPERTY 1564 DOMINION ROAD EXTENSION, MOUNT ROSKILL
This home will make you the envy of your friends and family, with the ability to entertain all year round. The huge deck is a luxury, particularly with the covered pergola allowing al fresco dining regardless of the weather. Flowing from the open plan living through large sliding doors, the private entertaining area has room for a dining table, lounge suite, barbecue and fire pit. There is also grass for the kids and pets. additional separate toilet Plenty of off-street parking
Character 1910’s weatherboard home • Recently refreshed • Renovated bathroom • Separate laundry • An
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All agents welcome. Bring your buyers!! Josh Lowe 021 188 josh.lowe@raywhite.com8991 Bryce Taylor 021 273 bryce.taylor@raywhite.com3990
Entertainer’s Dream 3 1
New Freehold title to be issued, with a land area of 320sqm (more or less). This home will tick all your boxes as a first home buyer or a family looking for a convenient location, close to schools, parks and transport routes. A character charmer, ready for you to simply move in and enjoy.
Sandringham | Living Magazine8
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Sandringham | Living Magazine10 Auction (unless sold prior) 4:00pm, 14 September In Rooms: 4E Kitchener Road, Sandringham 1564 Dominion Road Extension Mount Roskill
Top:
Entrance Above: Delicious Food Right: Interior LIVING LOCAL. SUPPORTING LOCAL.
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Le Petit Bocal 177 Sandringham Road, Sandringham Le Petit Bocal (‘The Little Jar’) is a secret Sandringham doesn’t give up lightly. After fumbling around in a suburb better known for its exotic takeaways, fish and chip shops and diaries, we finally walked in, and were met with a french cafe full of freshness.
Usually, French Cafes have a type of prescriptive dogma in relation to decor and atmosphere. It’s always the same deal - too many miniature eiffel towers, red and white checkered tablecloths and good looking waiters with moustaches floating around to make sure that enough cliches are happening at the same time so that no customer could ever doubt that they are indeed in a French Cafe. Le Petit Bocal encapsulates a different, more authentic kind of spirit. You won’t see anything too French about this place, only the subtle accents like the pretty stylistic black and white Parisian photographs and our fresh-off-the-boat chirpy french waiter who’s only been living in New Zealand for the last two weeks. Other than that, the decor is part of the fresh industrial genre, something you’d see in modern day France, with little jam jar containers used as lights (a nod to the cafe’s name), clean basic wooden tables and a lot of open white space. It’sThenice.real attraction to this place is of course the food. This is a terrain that most french cafes rock at. Who knows how the people from that little hexagon-shaped country managed it, but in almost any french cafe in the world, you’re guaranteed to have amazingly succulant bread with quality ingredients cooked to perfection. Le Petit Bocal is no exception.
A hidden french gem and serious contender as one of the best french cafes in town.
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toListingsLatestLove
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28A Daventry Street, Sandringham What a winner! Located privately up a ROW sits this lovely one-level spacious home just ready and waiting for a new owner. The open plan living flows seamlessly to the sun-drenched north-facing deck allowing you to relax and enjoy watching the sunsets or the children or pets play safely in the fully fenced garden. Susan Woods-Markwick 021 520 290 | Petrina Gavin-Egan 027 385 5914 2 1 1
Diane Goer 027 241 7297 2 1 1
3/11 Eden View Road, Sandringham
The location is excellent. It is a short walk to the Sandringham Village where you can choose from various restaurants. This Sandringham Unit is in a good street, is sound and ready enough for you to move in. You can still make your mark if you wish.
20 Savoy Road, Glen Eden
There are two amazing opportunities here with great road frontage in one of the most sought after locations in the area. Sitting atop 2114sqm (mol) of freehold ‘Mixed Housing Urban’ land, a large amount of value here is in the land. There are both stormwater and wastewater manholes on-site which will reduce some of the costs. The stormwater connection was upgraded earlier this year. We encourage you to do your due-diligence here on what could be a goldmine of a development opportunity. Humphris
Adam
021 063 7043 3 1 1
7B Hadfield Avenue, Waterview 1970’s they made them to last! This home is much more than meets the eye. The landscaping has been carefully designed to create the ultimate in privacy. Walk past the palms and reach the gorgeous private north western sun-drenched deck and garden a great place to entertain or just relax come those balmy summer evenings.
Susan Woods-Markwick 021 520 290 | Petrina Gavin-Egan 027 385 5914 2 1
Locarno Avenue, Sandringham
2/23
Rupal Patel 021 237 0399 2 1
If you’re starting out or starting over then this circa 1970’s unit is certain to raise your temperature. You’ll love the convenience and ease of duplex style living... the unit is recently redecorated from head to toe and ready to move into immediately offering a comfortable ‘worry free’ lifestyle, and you’ll be delighted to discover that every box is ticked.
6 Scowns Way, Glendene This smokin number will completely capture you! Beautiful on the inside and out, this bangin’ brick and tile home is ready for you to move into. Your household’s “master chef” will love the modern kitchen with stainless appliances and stone benchtops. Rupal Patel 021 237 0399 4 1 1
Pim Pimpinid 021 965 424 3 1 1
Enjoy peace of mind with a modern finish at this well cared for residence. Impressive both inside and out, this spacious home is situated on a 464sqm (more or less) section. On the lower level, you will enjoy a contemporary open-plan living environment equipped with a sundrenched kitchen and a lounge/dining area that leads out to a delightfully private deck.
49A Buscomb Avenue, Henderson
A north-facing end unit, it has plenty of natural light inside plus sunny living outdoors. Featuring stunning sea views and located in this quiet pocket of the Peninsula. The quality throughout is excellent and you can see (and feel) exactly what you are buying. You won’t be disappointed.
4 Mana Place, Te Atatu Peninsula
Josh Lowe 021 188 8991 | Bryce Taylor 021 273 3990 2 1
downsize, start
a modern
out, and the added bonus
Offers low-maintenance living at
Auckland Central Maybe you’re looking to enter the property
a
undercover car park which represents incredible value. Emily Hu 027 530 5978 1 1 1
or even invest but whatever the reason, this one-bedroom apartment is the absolute perfect
open
3X/15 Street, market, over catch! its very best with plan living, fit of secure
Nelson
30 Te Otinga Place, Pyes Pa, Tauranga What a great building platform, elevated 720m2 (mol) section with great views. Desirable subdivision with established homes around you in this sought-after community, with local playgrounds, cafes, shops and school. Susan Woods-Markwick 021 520 290 | Petrina Gavin-Egan 027 385 5914 Land: 720m2
Set on freehold low maintenance grounds this home possesses an appealing blend of understated function. It has a well-thought-out floor plan, everything faces the right way and it certainly has none of the “fish bowl” feel that has become increasingly common with the rise of high-density developments across the city. It’s private. It has a wonderful feel.
4/24 Roslyn Road, Mount Wellington
Tracey Potter 021 263 0445 3 2 2
154B Henderson Valley Road, Henderson Convenient living is the word here with everything on your door step, great schools, shops, parks and much much more. If you are looking for that great family home on a easy care section then this is the one for you! Adam Humphris 021 063 7043 3 1 2
This instantly appealing circa 1950s bungalow is a real little charmer. A weatherboard classic, this home has been beautiful inside and out. The layout has functional charm, with a light and airy, open plan living environment with heat pump and sliding doors leading out to a covered deck perfectly positioned for the sun.
156 Metcalfe Road, Ranui
Rupal Patel 021 237 0399 3 1
29 Haverstock Road, Sandringham Savvy investor wanted! This pancake flat, freehold and fenced section is just waiting for the new owner to come along with a vision for it’s future. After 41 years with the same look, this is a beautiful picture just waiting to be painted. Adam Humphris 021 063 7043 Land: 589m2
12a Battersby Avenue, Mt Roskill
Stand-alone, with an expansive section and generous living spaces, this is a home where you can truly live a little. Kids can burn off some energy outdoors, with room to kick a ball around and play a bit of cricket. If it’s your fur baby you’re looking to spoil, then the fully fenced backyard gives them an incredible haven to enjoy whilst you’re at work. Lowe
021 188 8991 | Bryce Taylor 021 273 3990 2 1 1
Josh
Sunny Sareen 021 064 7171
This freshly renovated unit provides ample opportunity to get into a well-equipped unit of your own in 2022, complete with: Two double bedrooms with wardrobes, Spacious kitchen with all the mod cons, flowing to an open plan dining space, Separate lounge space, One full sized bathroom, Plus extra guest toilet and laundry space, Multiple storage cupboards with plenty of room to store everything away, Fenced exclusive use outdoor area ready for entertaining, One off-road car park, behind a gate.
2/325 Mt Albert Road, Mount Roskill
2 1
C714/176 Broadway, Newmarket 2 2 1 This well-maintained apartment offers you an open plan living environment, 2 roomy bedrooms, a spotless bathroom plus the added bonus of a covered car park. Emily Hu 027 530 5978
16/42 Holly Street, Avondale Take advantage of the new lending requirements 5% deposit as a first home buyer. | Freshly renovated terraced townhouse. | Situated in a private, quiet enclave. | 127m2 floor area. Susan Woods-Markwick 021 520 290 | Petrina Gavin-Egan 027 385 5914 3 1 2
2 Septimus Place, Henderson 5 3 2 Live, land bank or develop are just a few of the amazing opportunities here. This property provides a huge amount of family living in the main home with a fully separate and self contained one bedroom minor dwelling as a secondary income. Adam Humphris 021 063 7043
Broadway, Newmarket
Emily Hu 027 530 5978 2 2 1
D706/176
This freehold apartment is located in Central Newmarket, also in the highly sought-after Double Grammar Zone. Situated in level 7 with a beautiful view of Newmarket central. Good floorplan with 2 bedrooms and 2 bathrooms. 1 Secure car park included.
3/9 Begbie Place, Sandringham You’ll love the convenience and ease of duplex-style living... The home was recently redecorated from head to toe offering a comfortable ‘worry free’ lifestyle, and you’ll be delighted to discover that every box is ticked. Dan Luo 027 668 8198 2 1
5A Puka Street, Onehunga If you are in the market looking for a single level, low maintenance home, with its very own sunny courtyard, this should be on your “must see”,” must buy” list. Peter Akeroyd 029 525 0800 | Ivan Koulin 027 485 0876 2 2 2
1F/118 Gladstone Road, Parnell One bedroom, ground-level apartment with 55m2 of living space plus two balconies one facing North and the other West to enjoy all day sunshine throughout the year. The Gladstone Apartment building has recently completed an exterior upgrade and a Code of Compliance Certificate has been issued. Sue Holland 021 227 0087 1 1 1
167 Russell Road, Manurewa Don’t miss out on these brand new freehold townhouses ‘No Body Corporate or Society Charges.’ Construction is well underway with completion due for June 2022. Titles have been issued. Sunny Sareen 022 064 7171 3 2 1
This stunning 103m2 (approx) brand new freehold apartment completed in January 2021 is located on the 22nd floor and offers amazing views over the harbour and central city. The large living area is light, roomy, and also enjoys the views. Recharge and relax away with a decent red and a book in the additional study nook.
Pim Pimpinid 021 965 424 2 2
2206/10 Commerce Street, Auckland Central
6D/56 Liverpool Street, Auckland Central 2 1
Pim Pimpinid 021 965 424
The Q Central complex is known for providing high-yield returns for smart investors. Positioned on Liverpool Street just off the top of Queen Street it’s a winner for the University student rental market. There’s a flourishing community that has discovered its great value. You’ll have to be in quick!
Emily Hu 027 530 5978 2 2 1
B305/176
This lovely solid apartment is located on Broadway, Newmarket. Modern open plan design with 2 bedrooms. 2 bathrooms and 1 secure under-covered car park.
Broadway, Newmarket
Tracey Potter 021 263 0445 2 1
1105/17
This top-floor two bedroom apartment offers a functional modern kitchen which leads through to open-plan living that is light, bright, and welcoming. Enjoy skyline views during the day and the twinkling of lights at night this is high-rise living at its best.
Putney Way, Manukau
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From the front it looks like just a takeaway pizzeria, but on entry we were ushered through the kitchen into a charming garden restaurant dotted with candles. 7 Siri Sandringham is the place to head to when you fancy a curry. The spices and heady aromas mingle on the suburban streets to entice the punters in.
OOURFAVURITES
From the flagship store on Fort Street to the inner city hotspot in Britomart Square, Miann has built up an impressive reputation in Auckland over its past three years. Geeks on Sainsbury
For years, the Auckland burb of Sandringham has been yearning for a modern coffee spot to plonk itself amongst the rather unflattering choice of stodgy bakery food that was on offer. Say hello to Geeks on Sainsbury.
Sandringham is a bustling, multi-ethnic suburban place with plenty of sunshine and sense of community. The diverse cultural background of locals is also reflected when eating out. The huge range of affordable casual dining and takeaway options include Southeast Asian, Indian, Sri Lankan, Halal and French just to name a few. Here are some of out local favourites that you don’t want to miss! Bunanza
Papa’s Pizza
These buns are baked fresh and delivered to your door the same day, for that ‘straight out of the oven’ goodness. Miann Morningside
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Sandringham | Living Magazine46 Kiwis trust the financial system, but often feel financially insecure
New Zealanders have revealed the three most important things they want from financial institutions.
• Being transparent and simplifying the small print
Another finding was that 53% of New Zealanders feel they have a good level of financial understanding, while 37% feel they have a mediocre level of understanding and 9% feel they have a low level of understanding.
• Treating people as valued customers
On average, New Zealanders have 2.9 financial goals they are actively working towards, with the most common being to:
• Grow income = 37% • Start saving money = 33% • Save for a specific purpose = 33% • Save for retirement = 32%
• 27% are starting to swim comfortably
• 37% are just treading water
• 15% are sinking
• 71% are confident that financial markets offer good long-term opportunities for investors
• Explaining in clear terms both the benefits and risks of products
The survey also found only one in five New Zealanders feel they are in a secure financial position: • 21% are swimming happily
• 66% are confident that financial markets offer protections for investors and consumers
The Consumer Experience with the Financial Sector Survey, which was conducted by the Financial Markets Authority, found consumers want institutions to focus on:
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Meanwhile, about two in three New Zealanders feel slightly, fairly or very confident in the financial system:
• Become debt-free (excluding mortgage) = 24%
• 65% are confident that financial markets are effectively regulated
I’ve always prided myself on sharing both the pros and cons of different home loan options, explaining things in clear terms and respecting my valued clients. If you’d like expert mortgage advice, I’m here to help.
Open Doors. Open Minds.
City Realty Group – our parent – also has a strategic partnership with Loan Market, connecting clients with experienced brokers to provide home, construction, refinancing, self employed and vehicle loans.
Commitment Hard Work Loyalty
Ray White Sandringham is based at the heart of our communities who form Auckland’s central suburbs. We are a team of dedicated professionals who understand this unique market and are experienced in all property types – whether it’s for a first home, family home or an investment property. As central suburbs become more established with infrastructure, development, investment and identifiable neighbourhoods we are in the right location and frame-of-mind to provide market leading advice with our focus on people and property.
The Ray White Sandringham office services our classic character suburbs.
RAY WHITE SANDRINGHAM WHY CHOOSE US?
Sandringham | Living Magazine52 Daniel Horrobin 021Director595976 Nick Fistonich Branch Manager 021 146 2720 Adam Humphris Licensee Salesperson Amy Tsai Licensee Salesperson Bryce Taylor Licensee Salesperson Bruce Anderson Licensee Salesperson Diane Goer Licensee Salesperson Dan Luo Licensee Salesperson Emily Hu Licensee Salesperson Hugh Free Licensee Salesperson Ivan Koulin Licensee Salesperson Jackie Zhang Licensee Salesperson MEET THE TEAM Sandringham Management Residential Sales Team Josh Lowe Licensee Salesperson Kate Jiang Licensee Salesperson Lauren Indrisie Licensee Salesperson Michael Oh Licensee Salesperson Nancy Chen Licensee Salesperson Alastair Hubbard Licensee Salesperson Daniel Chen Licensee Salesperson Cameron Brain Auction Manager 027 424 1782 Delanie Horrobin New Business Manager Property Management 021 973 927 Gina Colcord Head of Property Management 029 770 8109 Vikas Verma General manager 021 625 178 Yuhei Umezaki Licensee Salesperson
City Realty Group Page 53 Pat Taylor Licensee Salesperson Petrina Gavin-Egan Licensee Salesperson Pim Pimpinid Licensee Salesperson Pupal Patel Licensee Salesperson Simon Lee Licensee Salesperson Sunny Sareen Licensee Salesperson Susan Woods-Markwick Licensee Salesperson Tracey Potter Licensee Salesperson Tim Cai Licensee Salesperson Wendy Cai Licensee Salesperson Peter Akeroyd Licensee Salesperson Sue Holland Licensee Salesperson
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