THE BLACK BOOK | current to 20 April 2021

Current to 20 April 2021

THE

BLACK BOOK.

over sixty properties for your consideration Ashley Church:

Up For Grabs

Designing For Wellness

Why are landlords being punished?

Auckland’s oldest surviving house

‘There’s no place like home’

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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Contents

Inspire

Auckland’s oldest surviving house up for grabs

10

Opinion: Around 40% of Kiwis rent so why are landlords being punished?

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‘There’s no place like home’: Designing for wellness

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THE BLACK BOOK.

Black Group Realty Ltd. Selling Principal

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

Franchise Owner

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

Group General Manager Jacki Lane 027 556 7042 jacki.lane@raywhite.com

Sales Manager

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

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 Ray White Takapuna 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.

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.

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“The beauty of this home is that it looks like it could still step out of the history books and into 2021.”

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AUCKLAND'S OLDEST SURVIVING HOUSE

up for grabs Auckland's oldest surviving house - a five-bedroom colonial homestead in Parnell - is back on the market for sale, with a price tag of just under $5 million.

24 Ruskin Street passed in at auction this week, but the listing agent Ray White’s Ross Hawkins told Oneroof that the vendor – who lives in Australia – was motivated to sell.

The renovated mansion, which is more than 170 years old, has already attracted interest from overseas buyers.

Hawkins said that $4.95 million was a “very realistic price point for a property of this size and in this location”.

The house, which has a 2017 CV of $4.7 million and sits on a 1292sqm section, has been over years used as a police hostel, a kennel, and even a brothel.

In its earliest days, the property was referred to as the "city farm" because of the amount of land it covered.

Gary Stanborough, 77, said his grandfather had first moved into the house in 1928 as a tenant before buying it in 1942.

The family had sold the house after he passed away in 1975.

Stanborough said it was touching to see the house now, and was surprised to see what had changed and what had stayed the same.

What was now the dining room used to be the main bedroom, and although there were plenty of luxury touches throughout the house, Stanborough said a lot of original features had remained intact.

“It was a huge property all the way to Windsor Street, with gardens and trees, and a honey house,” Stanborough said. n

Hawkins, who is marketing the property with colleague Caleb Rufer, said that while the house had been upgraded and boasted a luxury finish, it still retained much of its original character.

“Many people have done horrible '70s addons to houses of this era which destroys the character of the home,” he said.

“The beauty of this home is that it looks like it could still step out of the history books and into 2021.”

Attending the auction this week was the grandson of one of the past owners of the house.

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OPINION:

Around 40% of Kiwis rent so why are landlords being punished?

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THE BLACK BOOK.

Imagine a man sitting high up in a tree sawing off the branch on which he is sitting. Eventually his sawing will reach a tipping point and he and the branch will plunge to the ground.

I’ve just described the Government’s approach to the housing market. Since coming to power in 2017, Labour has presided over reforms which have either made no impact or have made it significantly worse.

Some of these reforms – such as the foreign buyer ban and the rollout of Kiwibuild - appear to have been based on a genuinely held belief, however misguided, that they would make a positive difference.

Sadly, this can’t be said of the Government’s rental market reforms, which in my opinion consist of a series of measures designed to tap into the deepseated envy that exists in some parts of society towards Mum and Dad property investors. These measures include the ring-fencing of tax losses, the extension of the Brightline test from two years to five years and then to 10 years, a variety of inequitable reforms weighted towards tenants, the healthy homes legislation, and now, the removal of the ability to claim the cost of interest as a taxdeductible expense.

The response to this last measure has been negative, with many economists and commentators warning that it will lead to an exodus of landlords from the market and higher rents.

So how has the Government and the Finance Minister, Grant Robertson, responded to these

warnings? By issuing his own warning that he will consider imposing rent controls if the predictions turn out to be correct (which they will). To be clear, New Zealand already has a form of rent control in place, with landlords already limited to one rent increase per year. What Robertson appears to be proposing is that the Government would set, not just the frequency, but also the level of any increase.

That threat should send a shudder down the spine of tenants and landlords alike. Why? Because rent controls have been shown to be ineffective in every jurisdiction in which they have been implemented.

Canada, Germany, Spain, the UK and the US have all tried various forms of control with very similar results over time. An impressive body of research generally agrees that rent controls provide shortterm relief to tenants but ultimately end up reducing quality and either pushing rents up further or creating a rental supply crisis – or both.

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Even economists in left-leaning Sweden, warn against rent controls. One, Nobel laureate Gunnar Myrdal, has said that “rent control has in certain Western countries constituted, maybe, the worst example of poor planning by Governments lacking courage and vision”. And Swedish Professor Assar Lindbeck has said that “short of bombing, I know of no way to destroy a city that was more effective than rent control”. Likewise, Dr Gemma Burgess, from Cambridge University's Centre for Housing and Planning Research, is “dubious” that rent controls could help tenants without reducing “the stock of rental properties".

In New Zealand, the overwhelming bulk of rental accommodation is provided by the private sector. Exact numbers are patchy, but we know that there are probably 525,000 rentals in New Zealand, of which around 85,000 are owned by Housing New Zealand, local authorities and nongovernment organisations that provide social housing. The remainder – around 440,000 rental homes – are provided by the private sector, and the overwhelming majority of these are owned by mum and dad property investors who have, collectively, saved the country tens of billions of dollars over the past 40 years.

We also know that around 40% of Kiwis live in rental accommodation – and that this number has been consistent over several census periods despite the sharp rise in our overall population over the past couple of decades. So the demand for rental accommodation is increasing.

For these reasons, a responsible Government would be doing everything that it could to retain, and grow, private investment in the rental sector and introducing programs that make it as easy as possible for Kiwis to invest in this important sector. It would also mean avoiding initiatives which imposed significant new costs on landlords or which worsen the already precarious position associated with the cost of owning rental property.

Draw your own conclusions. n Ashley Church is a property commentator for OneRoof.co.nz. Email him at ashley@nzemail.com

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'There’s no place like home': DE S I G NIN G FOR WELLNES S .

Dorothy in The Wizard of Oz reminded us on that fateful trip, remember? “There’s no place like home,” she told us. She was right, home should be our haven, our place of refuge – somewhere we can feel calm and content.

Who would have expected a global pandemic to emphasise this so greatly?

The time we spend at home has increased, with many of us working and learning for longer at the kitchen table or study. Because of this, we’re focusing more on our habitat and many of us are rethinking how it works for us and our wellbeing. Part of slowing down means a chance to reconsider.

We know when our home isn’t making us feel good – if we’ve outgrown it or if it leaves us feeling frustrated. When you walk around your home, what makes your heart sing? What irritates you?

Our homes should be an extension of ourselves so as to emphasis who we are in return. Small changes to our homes for the better can have huge effects on our happiness.

Our homes, more than ever, have become places in which to become more mindful.

Choosing soft neutral colours helps to calm our minds and create a sense of well-being in a peaceful, nurturing environment. Selecting calming warm earthy tones, coastal-inspired palettes or nature-evoking greens are all great starting points.

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THE BLACK BOOK.

Of course, colour is subjective, the soothing effect of a coffee cream might be someone’s else’s idea of lacking vitality.

But there are a few things to consider.

How do certain colours make you feel? Is this a short-term effect or do you want to be around them on a daily basis?

Take note of nature. Blue is the superstar colour of the moment, bringing with it a sense of clarity, peace and strength – honouring the same tranquillity of the sky and the ocean. Dusty shades are holding their own right now and work wonders when creating a relaxing, tranquil space in the home. Try the softness of Resene Duck Egg Blue – timeless and soothing – or go a touch bolder with Resene Blue Bayoux or Resene Juniper in its Nordic blue-green glory. Once you’ve cleared out the visual clutter, let these blue get rid of the mental clutter, leading you to a calmer space.

Other restful hues are Resene Dust Storm or Resene Bud that will help encourage a sense of wellbeing. If you’re drawn to something more energised try sunny yellow, reds or oranges, such as Resene Golden Sand, Resene Red Oxide or Resene Whiskey Sour.

When designing an interior to enhance the feeling of wellness it really starts with identifying colours that physiologically fit your profile or those in your family, says Laura. “Generally, you will find the traditional tones of cool blues and greens will stimulate wellness the most, which is why we mainly see these colours in medical facilities,” she says.

Wellness isn’t a one size fits all type of design scenario. “While an introvert might prefer Resene Secrets, an extrovert’s wellbeing would be balanced with an offset combo of Resene Smoky Green with an energising but muted Resene Sunbaked. It is about building your palette to suit your personality and the mindset outcome that you want to achieve, then selecting specific pieces to style with.”

Soft lighting and soft colours are key, says artist Greer Clayton. “Colours that are similar tonally in living spaces always create a feeling of calm, and I’m a fan of different colours in different rooms to add interest.”

Muted colours seem to feel relaxing and varying the strength of one colour if you don’t want to use several is a good idea to ensure the spaces are cohesive she says. “Fresh whites in bathroom areas for instance such as Resene Half Carrara and Resene Barely There mean clean, bright spaces. Resene SpaceCote is good for a soft but durable finish. Sage greens and nature colours like Resene Quill Grey, Resene Green Spring and Resene Ravine could be used on cabinetry to introduce colour and calm.”

It is about building your palette to suit your personality and the mindset outcome that you want to achieve, then selecting specific pieces to style with.

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Resene Colour Consultant Brenda Ngatai suggests using paints with no volatile organic compound in them.

Resene Zylone Sheen Zero with no added VOCs and Resene EarthSense Ceiling Paint are popular for people with allergies, she says. “Keeping the paint finishes in a low-sheen or flat gives a feeling of calmness to an interior space,” Brenda says.

Removing messy physical and visual clutter, and surrounding yourself with homeware that inspires you. Bring in soft, curved lines by way of your furniture for a gentle effect, tying in natural elements such as sisal, linen and wood.

Once you’ve got your colours sorted, tune in to your senses, they’ll allow you to get in touch with where your surroundings.

Add soft rugs underfoot for that added sense of comfort, plant some more trees near your windows that will attract the birds and their song and bring bedding into your bedroom that you love to sink into. Remove any unwanted plastic, and opt for organic objects when you can. Get rid of any old uncomfortable bathroom towels and replace them with ones that feel beautiful against your skin.

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How are the natural light and air levels?

It might be time to get rid of those heavy curtains that are obstructing your windows and replace them with something visually lighter. Bring in the outdoors with air purifying plants – the Peace Lilly is an easy-care option.

How noisy is your home? Constant background noise can add to your stress levels so consider retro-fitting double glazing or high hedge planting to deter unwanted noise.

Ensure you have your own sanctuary where you can really escape to – a favourite corner or comfortable chair near your most-loved outlook. These little things may initially seem not worthy of consideration, but they all play their role in helping create a home that encourages happiness, greater presence and mental wellbeing. n

Keeping the paint finishes in a lowsheen or flat gives a feeling of calmness to an interior space.

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M IS S I NG O UT?

Get every issue, direct to your inbox

Issue One | 22 April 2020

THE

BLACK BOOK. ou ie launch ’

‘Blackr T

60

Bold and Breathtaking 39 Spencer Street, Remuera

pages of properties at your fingertips

How high can you go?

Bite Size

Locked In, Not Out

Liam Bratton talks pre-approval

Get ready to sell post lockdown

Our first online auction success

For most, their Black Book is a tightly guarded secret. In contrast, we want ours to advise, inspire, or just give you something nice to flick through on a Sunday morning with your coffee.

C L IC K H E

RE TO

SUBSCRI

BE

THE BLACK BOOK.

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