THE BLACK BOOK | current to 2 November

Current to 2 November 2021

THE

BLACK BOOK.

PROPERTY FEATURE

The Hamptons, But Make it A Rare Northern Jewel Promises a Lifetime of Happiness

Kiwi 60

+

PROPERTIES FOR SALE

Diana Clement

10 and 10 in 10

Laura Heynike

NZ houses prices: Experts give their best and worst-case scenarios

Spend 10 minutes with Maryanne Bradley

The must-haves for your balcony this summer

Covid-19 – Alert Levels Everything you need to know about Level 2, 3 and Property

We hope you and your loved ones are staying safe during this lockdown.

With the exception of physical viewings, we are still business as usual!

Congratulations on making it to Level 3, Auckland! Not long to go now for us all.

Our team are here to assist you with virtual viewings and appraisals – just ask one of our agents how they can help!

Useful Links: Buying and Selling at Alert Level 2 Buying and Selling at Alert Level 3 Stay up to date with the Covid-19 Website Where to check locations of interest Stay safe, everyone.

Kia Kaha, New Zealand

R AY W H I T E N OW

Introducing Ray White Now, an insight to provide clarity to all our customers on what is happening in the market now.

If you are considering selling we explain how you can take advantage of the current conditions to achieve the best possible sales outcome.

The resilience of the New Zealand housing market has never been more evident than over the past three months. Most New Zealanders would be surprised at the level of activity and prices achieved, even though it has operated under restrictive operating conditions.

As Australasia’s largest real estate group, we are uniquely placed to provide our clients with the most relevant and timely information and data to assess current market activity and outlook. And as a family-owned and led business with 118 years of experience including operating through two world wars, the great depression and recessions, we know that we can deliver you the highest quality solutions in the current market.

C L I C K H E R E TO R E A D T H E L AT E S T I S S U E N OW

contents.

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Black Group Realty Ltd. Contents

Selling Principal Heather Walton 021 432 167 heather.walton@raywhite.com

Inspire

Franchise Owner Mark Bycroft 021 968 946 mark.bycroft@raywhite.com

The Hamptons but make it Kiwi

Property Feature: 36 Inanga Lane, Omaha

Sales Manager Jeff Tubman 0274 558 717 jeff.tubman@raywhite.com

Diana Clement

NZ House Prices: Experts give their best and worst-case scenarios

10 & 10 in 10

with Maryanne Bradley

Laura Heynike

The must-haves for your balcony this summer

Property Ads

Black Group Property Management.

General Manager Mac Bycroft 021 223 6893 mac.bycroft@raywhite.com

Business Development Josh Smith 021 235 8802 josh.smith@raywhite.com

Ray White Epsom Ray White Matakana & Omaha Black Group Realty Ltd. Licensed (REAA 2008)

The Black Book is subject to copyright in its entirety and the contents may not be reproduced in any form, either in whole or in part, without written permission.

Opinions expressed in The Black Book are those of the contributors and not necessarily those of Black Group Realty Ltd or Ray White Epsom. No responsibility is accepted for unsolicited material.

On the cover: 36 Inanga Lane, Omaha

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M IS S I NG O UT?

Get every issue, direct to your inbox Issue One | 22 April 2020

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Bold and Breathtaking 39 Spencer Street, Remuera

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inspire.

The Hamptons, B

A Rare Northern Lifetime of

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But Make it

Kiwi

Jewel Promises a f Happiness

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36 Inanga Lane, Omaha

Ray White’s Heather Walton has seen her fair share of incredible properties - but when she talks about 36 Inanga Lane in North Auckland’s Omaha, she says that this one has a certain je n’ais ce quoi that’s simply too good to pass up.

The four-bed, three-bath property, nestled right on Omaha Beach and looking out to Kawau and Little Barrier islands, has been built with every simple luxury taken care of - and it’s this attention to detail that’ll captivate you when you walk through the doors, says Heather.

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“It’s just special - and trust me, there won’t be another one like this for a long, long time.”

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FEATURED PROPERTY.

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The four-bed, three-bath property, nestled right on Omaha Beach and looking out to Kawau and Little Barrier Island, has been built with every simple luxury taken care of - and it’s this attention to detail that’ll captivate you when you walk through the doors, says Heather.

“It’s spectacular, definitely,” she nods. “But it’s homely too - you don’t often get that at a beach house. You can just feel the quality and luxury in this property, it’s like you’ve walked into a luxury lodge. It’s such a standout property in Omaha, and that feeling is very much there on the inside, too.”

About as Cape Cod as you can get right now, the Hamptons-inspired home was built just 15 years ago by the current owner and has served as an oasis away from the city ever since.

Walking through the front doors and towards the open-planned living, dining and kitchen area, you’ll be instantly struck by the relaxed-yet-sophisticated feeling of home.

The kitchen will have you dreaming of those summer night feasts, while gorgeous bay windows and a stunning sunroom offer all-weather (or Auckland summer!) cosiness, as do the fireplaces both indoor and outdoor.

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“The outdoor living in this property is spectacular,” says Heather. The home’s sweeping patio opens right out to face the beach, while a sheltered courtyard complete with fire offers you alfresco dining options, whatever the weather thanks to the drop-down screens.

“I call it a no-compromise property,” she continues.

“The entertainment areas are spacious and separated, so I think it’s fantastic for multigenerational families - kids can be watching a movie, parents can be having a BBQ and others can be down at the beach. No one’s under anyone’s feet.”

Which is what you want on a holiday - or after months of lockdowns!

“Exactly,” laughs Heather. “It’s a perfect home to be used a lot, you know - it would be such a shame if it sat empty!”

While the ground floor might be the perfect place to entertain your neighbours or visiting friends and family, it’s the first floor that will truly take your breath away.

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“I call it a no-compromise property.”

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“My favourite part of the whole house is the master bedroom,” Heather tells. “It’s where the best view of the house is, and that’s where the Hamptons vibe really comes alive. There’s a gorgeous gas fireplace in the master bedroom that you simply can’t get consent for anymore, and the view looks straight out to the islands. It’s just stunning.”

As for the perfect prospective buyers, Heather says she’d love to see the property pass into the hands of those who understand just how special this home is.

“It would be great for a permanent resident, someone who just wants to get out of Auckland, but be within a commutable distance to the CBD, or a family whose kids go to the schools on the North Shore.

“It’s definitely a family home, perhaps for someone who has extended family and grandchildren who will enjoy it. There are so many options for whatever your family makeup is. And it truly is a one-off opportunity, because quite simply, houses like this just don’t come up. It’s been in the same ownership for 15 years, and it’ll likely be in the next ownership for 15 years after that.

“People just don’t build like this anymore, with the attention to detail and the quality. So don’t wait!” n

Watch Video *Since the writing of this article, this property was sold under the hammer for a record price of 8.3M!

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Featured property listed by Heather Walton Head of Ray White Black Group 021 432 167 heather.walton@raywhite.com THE BLACK BOOK.

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NZ HOUSES PRICES: EXPERTS GIVE THEIR BEST AND WORST -CASE SCENARIOS Diana Clement

New Zealand’s average property value hit $1m for the first time last month, putting pressure on first home buyers

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WILL THE HOUSE PRICES KEEP RISING AT RECORD RATES OR IS A CRASH ON THE CARDS? With parts of the country still in lockdown as a result of the worsening Covid outbreak, and listing volumes still tight, the housing market is entering unfamiliar territory.

Last week the Reserve Bank upped interest rates for the first time in seven years, in a bid to curb house price growth. The move follows several official measures aimed at taking the heat out of the market, including the reintroduction and hardening of the loan to value ratio restrictions and the removal of tax breaks for property investors on existing homes.

OneRoof house price figures from last month show the scale of the challenge: the country’s average property value hit $1m for the first time, after growth of 27% in the last 12 months. Quarterly figures point to slowdowns in some parts of the country, but are these a blip or signs that the market frenzy is coming to an end?

OneRoof asked a number of industry experts for their best and worst-case scenarios for real estate in the months ahead and their answers are illuminating, exposing the difficulties and unevenness in the market

What’s best for first home buyers can be a worst-case scenario for home-owners and investors.

Mortgage broker Campbell Hastie, of Hastie Mortgages, says often hears from first home buyers that they’d love the housing market to crash by 50%, but the reality is housebuying would become harder, not easier if prices went into free-fall because nervous banks would put a halt to lending.

Graham Squires, professor of property studies at Massey University, agrees that best and worst depends on where you sit.

He notes that first home buyers have the moral high ground currently, but it wasn’t so long ago that house price rises were seen as something to celebrate.

Independent economist Tony Alexander says best and worst scenarios are different for builders, the agents, the first time buyers, existing property investors, existing owner occupiers. He prefers to be drawn on the highs and lows but notes that it’s very difficult to predict the future currently.

“The uncertainty regarding factors going forward is extreme.”

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HIGHEST RISE Alexander says the average house price could rise between 15% and 20% over the next 12 months. “Why 20%? That’s if the Reserve Bank and the Government don't do much at all. That's what it comes down to: the actions of the Government and the Reserve Bank. Other influences are pretty much pointing to the prices rising.”

LOWEST RISE

TO NY A L E XAN D E R IN DE P E ND E N T E CO N O M I S T

The lowest price increase Alexander expects to see is 10%. “So, a decent slowdown basically,” he says. “For the rest of this year, I think we're still looking at very strong monthly increases. There's a lot of momentum. Then we could get extra action from the Reserve Bank and government early next year to slow things down. With that sort of pathway, you could get the market flattening out before the middle of next year. That would be the optimistic view from a first time buyer’s point of view.”

BEST CASE “The best case for first time buyers is that house prices flatten off. That's going to be achieved by the interest rate increases that we're starting to see now. So, you've got rates going from super-duper cheap to something a bit more normal.”

WORST CASE

CA M PB E L L H AS T I E M O RTG AGE B RO K E R HA STI E M O RTGAGE S

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Hastie sees two worst-case scenarios: “The obvious one is prices carry on ripping away and it's just so hard for first timers to catch up. The second one would be dramatic falls in prices. If house prices fell, that wouldn't be very good for first time buyers, either.” Banks don’t want a situation where a property is worth less than the mortgage, he says, “[A crash] not going to give much confidence to the banks.”

FIRST HOME BUYERS “It’s not looking great for first home buyers, over the next one to three years,” he says. “Even to get back to where they were a year ago house prices would have to fall as much as they have risen over the past year, which is very doubtful. First home buyers are usually renters so the worst case for them might be that property prices rise, and rents go up astronomically because landlords have to service mortgages. Rising rents push house deposits far out of reach for first home buyers. A best case scenario for renters is rents stay as they are, and they have healthy homes to live in. The chances of rent reducing are probably fairly slim.”

OWNER-OCCUPIERS

G RA HAM S Q U I R E S PRO F. O F PRO P E RT Y S T U D I E S M A SSEY U N I VE R S I T Y

“Best-case scenario for owner-occupiers is interest rates rise (only) by a few percentage points.” The worst case is the housing market is hit by something unexpected and people lose homes domino-style.

PROPERTY INVESTORS "The best case scenarios for investors, says Squires, is mortgage rates remain the same and house prices continue their exponential growth. “In terms of worst-case scenario, the investor market is a lot more highly geared than it was at the time of the GFC and that could have potential issues.”

BEST CASE “A best case is where we get enough capital growth to keep investors happy, without increased regulation from the Reserve Bank or the Government,” says Nicol. That would mean around a 6% growth rate in Auckland and 4-5% in other areas.

WORST CASE

A NDR E W N I C O L M ANAG I N G PA RT N E R O PE S PART N E R S

“The worst case scenario is that the Reserve Bank increases interest rates in a way that shocks the market and that leads to a prolonged slump,” Also bad would be an immediate flatline or slump. “But I don't think that it's going to happen,” he says.

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BEST CASE “The best case scenario for property investors would be less government intervention,” Cullwick says, adding that investors need a settling in period from regulation changes in March 2021 before any more changes are made. “We also need more houses built to get people out of emergency housing. With more rules and regulations property investors aren’t willing to take risks. Things like removing tax deductibility [of interest] stops a landlord from investing in houses.”

That means fewer rental properties, making it harder for tenants to find homes, she says.

WORST CASE

SHA RO N C U L LW I C K E X E C UT I V E O F F I CE R T HE NE W ZE AL AN D P RO P E RT Y INV E STO R S F E D E R AT I O N

“The worst case is if the government introduces rent freezes. That won’t help anyone.” Investors can cope with debt-to-income rules and loan-to-value rations, but other regulations will stop landlords coming into the industry and reduce the number of properties available to rent, Cullwick says. n

For this, and more

OneRoof.co.nz content, click here

Diana Clement is a freelance journalist who writes on personal finance and property investing.

E-mail her at diana@wordfusion.com

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MOVING EVERY CLIENT WITH CARE

0800 GO EDEN

ten and ten, in ten with

Maryanne Bradley

Getting an agent to sit still can be difficult, so we bribe them with coffee to spend ten minutes with us. This week we pulled Maryanne Bradley from Black Group Realty aside to ask her ten personal, and ten professional questions.

Personal What's your coffee order?

Cappuccino.

What song is on repeat on your playlist at the moment?

The Bee Gees - Islands In The Stream.

Which App do you spend the most time on?

Facebook.

Where do you think New Zealand's best-kept secret is?

Reading the herald and having a cup of English breakfast tea!

How do you start each morning?

Reading the herald and having a cup of English breakfast tea!

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If you could have coffee with anyone in the world, who would it be?

George Clooney - hes nice ;) If you were to win a reality TV show, which one would you have the best shot at winning?

Vigil on TV1 - really really good.

It's date night - where are you making a reservation for dinner?

Cibo What's your go-to ice cream flavour?

I am going to be terribly boring and say Vanilla Bean!

What was the last book you read?

The Evening and the Morning by Ken Follett.

Professional What was your first job?

Assistant to the General Manager of a very large insurance company.

What did you want to be when you grew up?

Ooh I am not telling that one!

Share with us your property must-have?

Sun! What motivates you?

Nothing in particular - I am very self motivated!

Tell us the thing you love the most about working in real estate?

The interaction with people.

Give us some advice to pass on to someone thinking about joining the industry?

Have plenty of patience, be prepared to put in a lot of time and hard work in to achieve results.

What would you consider to be your greatest achievement?

My son & daughter.

Who inspires you?

Myself!

What separates you from other agents?

Experience, honesty and integrity.

Million dollar question - how’s the market at the moment?

The market for me at the moment is very very busy!

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THE MUST-HAVES FOR YOUR BALCONY

r e m m u S s i h T

For those living with limited outdoor space, lockdown doesn’t give you too much room to escape. Because of this, apartments with balconies have become in hot demand worldwide since Covid, with most new apartment developments placing a large emphasis on these spaces.

But with summer upon us, how can we maximise those cosy little spaces we have now into secret sanctuaries.

What better way to procrastinate than to nurture your own little veggie garden. Now you won’t have yields of crops, but you can have a satisfying smirk when you pick rocket leaves, herbs, chilli and other compactgrowing veggies.

Make use of your minimum height of 2400 in wall height and create a vertical garden on the ends of your balcony. There are a few ready-made units on the market from hanging pots, shelving systems through to pocket solutions.

However, if this is something you would like to take seriously, get a grid custom-made for your small space to take advantage of every square inch rotating the plants up and down your vertical line.

You will need a little outdoor kit for this too, housing small accessories like a trowel.

There are lots of all-weather storage boxes in different sizes to suit your little spot. You may bundle a few other items in this unit such as barbecue accessories or sports equipment.

You can rotate the plants of your vertical garden in your balcony up and down the vertical line

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For those with a view, take advantage of it. I often come across clients with a small terrace table and chairs, however they have a solid balustrade.

Swap that out to a slightly higher and compact round leaner with a couple of stools and lap up the view. Check the furniture is outdoor-rated so it lasts longer from weathering.

If you are after something a bit more relaxed, I just created a reading nook for a client in Hobsonville Point. It was her special space to read a book with a super comfy lounger, outdoor rug and foot stool.

The outdoor rug can create a different zone or hide dated flooring while the furniture acts as additional seating for those entertaining sunny afternoons.

Lastly, ditch the scattered pots and replace it with a streamlined long planter. This will make your space look less cluttered and larger.

If your balustrade has vertical steel bar inserts, these aren’t particularly pleasant to look at so the perfect trick is to hide them. A planter can be as wide or narrow as you like and some planters come quite tall too.

So you could potentially have the planter coming up half the height of the balustrade, then some lush greenery blanketing the remainder. When glancing from your lounge, the balcony is a calm sanctuary for you to enjoy over the summer months. n

Laura Heynike is director of Pocketspace.

E-mail her at laura@pocketspaceinteriors.com

For this, and more

OneRoof.co.nz content, click here

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e s u o th n e P a to s m o ro d e B From 2

Truro Road Apartment, Sandringham n

Apartments available on levels 2, 4 and 5. n From 2 bedrooms to a penthouse Contact Maryanne for more info today!

Maryanne Bradley Get in touch!

027 4418 448

maryanne.bradley@raywhite.com

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