THE BLACK BOOK | current to 23 March 2021

Current to 23 March 2021

THE

BLACK BOOK. Yellow.

THE HOT COLOUR OF SUMMER

Tony Alexander:

10 and 10 in 10

International Women’s Day

No slam-dunk end to rising house prices

Meet Rachael Bridger

Celebrating our top women

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

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

hello.

In and out of yet another lockdown for Auckland - it can sometimes be hard to know how far ahead to plan!

While additional lockdowns add stresses and uncertainty for so many, we are thrilled to see how our fantastic Black Group staff and agents just pick themselves up and carry on.

Confidence in the selling process has continued to grow, and we have excellent procedures and protocols in place that mean the sale of a property listed with one of our offices can continue to be marketed and sell regardless of what level we find ourselves in.

During the latest level three lockdown, we had a number of successful online auctions - it adds another element of tension for the vendors and buyers, but as a whole, it is managed exceptionally well and we still achieve top results. Having said that a lot of people find it more relaxing being able to bid from the comfort of their own home.

Ahead of International Women’s Day, Ray White asked some of the top female achievers within the network some questions about their career and I was humbled to be included and the team behind The Black Book have included my answers in here too - a quick glimpse into my real estate life.

We continue to bring you exciting new listings from around Auckland and beyond - you’re bound to find something you love amongst the pages ahead, so sit back, relax and enjoy.

Heather Walton and Mark Bycroft Ray White Epsom, Ray White Takapuna and Ray White Matakana & Omaha Black Group Realty Limited Licensed (REAA 2008)

4 |

THE BLACK BOOK.

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

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.

| 1

contents.

4.

6.

8.

20.

Tony Alexander Opinion 10 and 10 in 10 International Woman’s Day Yellow Looks Are Lighting Up Interiors Properties For Sale

6 |

THE BLACK BOOK.

Welcome Note Contents Inspire

10.

14.

16.

20.

16.

22.

14.

10.

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.

| 3

inspire.

8 |

THE BLACK BOOK.

THE BLACK BOOK.

| 9

10 |

THE BLACK BOOK.

TONY ALEXANDER - OPINION:

Don’t Expect A Slam-Dunk End To Rising House Prices

House prices have risen around the country at an especially strong rate in recent months, with high numbers of sales and shortages of stock on the market. How has this situation arisen during a global pandemic and can we reasonably expect it will continue through 2021?

A year ago, we all expected that the Covid-19 pandemic and lockdown would produce a recession, high unemployment, and house prices falling anywhere between 5 per cent and 15 per cent. For a while, house prices did fall, but only by just over 3 per cent during lockdown.

The economy did also shrink, but the 11 per cent fall in the June quarter was more than reversed by the 14 per cent rise in the September quarter. And unemployment did rise, but only from 4 per cent to a peak of 5.3 per cent and now it sits at a lower rate of just 4.9 per cent.

We can put the strength in the economy and resulting strength in the housing market down to a large number of factors. In no particular order of importance, here are a few of them.

1 2

We Kiwis were going to spend $10 billion on overseas travel. Being unable to we have instead spent those funds within New Zealand on spas, motorbikes, kayaks, shares, and property.

We Kiwis were going to spend $10 billion on overseas travel.

Being unable to we have instead spent those funds within New Zealand on spas, motorbikes, kayaks, shares, and property.

Interest rates were at record lows heading into lockdown and the housing market was accelerating, with average Auckland prices ahead over 3 per cent during the March quarter last year. With rates cut even further from March, bank depositors have been taking out funds now going backwards 1 per cent 1.5 per cent a year after tax and inflation and placed some of that money into property. Borrowers have been able to access rates sometimes below 2 per cent, most commonly just under 2.5 per cent.

3 4 5 6 7

LVRs (loan to value ratios) were removed, so many more people found their deposits could stretch to purchasing a property.

First home buyers saw their deposits grow firmly during lockdown as they kept earning subsidised wages yet were unable to spend those earnings.

Expectations of being unable to travel encouraged many people to change their plans from 2-3 years of travelling then buying a property to purchasing a property with travelling to be done once the borders reopen.

Shortages of labour meant most businesses were reluctant to lay off staff and have been quick to seek new people since the economic upturn became evident.

We went into the lockdown with listings down more than 60 per cent from a year earlier. That shortage has worsened, especially as vendors worried about not being able to buy quicky have been looking to make a purchase before they list their property – thus aggravating the listings shortage.

THE BLACK BOOK.

| 11

8 Can the surge in prices generated by 9 these many factors continue? No. But 10 come the end of

The household sector went into lockdown with low debt growth in recent years and low levels of risky debt because of LVRs in place from 2013 and banks applying high test interest rates for debt-servicing purposes.

Expectations of expats returning and foreigners eager to shift here once the borders reopen has incentivised Kiwis to make a purchase now before those people reach our shores – and some Kiwis overseas have been buying sight unseen while waiting to gain entry.

this year prices do look like they will still be rising at a 10 per cent pace if not more.

Momentum - meaning that rising prices tend to encourage expectations of further price rises in asset markets (think Bitcoin, Tesla shares). FOMO – fear of missing out on those rises drives people to buy sooner rather than later. Their buying pushes prices higher, they feel vindicated, they perhaps seek to purchase more while others holding out for price weakness give in and join them.

Can the surge in prices generated by these many factors continue? No. But come the end of this year prices do look like they will still be rising at a 10 per cent pace if not more. This will be especially so in Auckland which only re-engaged with the upward leg of its house price cycle at the start of 2020.

That is a key reason why the reimposition of the 40 per cent minimum deposit requirement for investors will not have the same impact as back in July 2016. In that earlier year Auckland was overdue for a pause, having experienced strongly rising prices for four years. The rest of the country was still catching up.

Nonetheless, the return of a 40 per cent LVR will be one factor encouraging a slowing in the pace of price rises during 2021. Another factor will be the anticipation of borders reopening slowly causing people to shift their plans away from housing and back toward travelling, or at least putting money aside for that eventual travelling.

ore , and m For this z of.co.n e o R e n r O e t, click h conten

History also tells us that in all price cycles, just as reluctant buyers eventually capitulate and dive in, so eventually do hesitant vendors eventually feel prices may be as good as they are going to reasonably get, and they list their properties. In particular, vendors holding out for prices 30 per cent above valuation eventually ease off and accept prices just 10-20 per cent over. Some investors also start selling properties which might need some extra maintenance.

Higher prices also, eventually, discourage buyers and encourage more vendors generally. It pays to note for instance that although stocks of listings are low, in January new listing numbers were around 15 per cent higher than those received in January 2020. There are properties being advanced for sale, and it will not take much of an easing in demand for stocks to start rising again – which will encourage the capitulation of sellers noted above.

The Government has also made it clear that there are some extra measures coming aimed at boosting supply and curtailing demand. History tells us that such measures outside those initiated by the Reserve Bank don’t tend to have strong short-term impacts. Nonetheless, if the messaging is good enough, some calming can be expected.

There are no slam-dunk factors suggesting an ending of house price rises in the near future. But all cycles eventually turn, and all emergency-type effects eventually fade. 2021 is likely to be a story of many of this past year’s unusual factors easing off in strength and producing a slowing of average house price growth all around the country. n Tony Alexander is an economics commentator and former chief economist for BNZ. Additional commentary from him can be found at www.tonyalexander.nz

12 |

THE BLACK BOOK.

ten and ten, in ten with Rachael Bridger

Getting an agent to sit still can be difficult, so we bribe them with coffee to spend 10 minutes with us. This week we pulled Rachael Bridger from Ray White Takapuna aside to ask him ten personal, and ten professional questions.

Personal

What’s your coffee order?

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

Anything old school - I must be an old sole!

Which App do you spend the most time on?

Facebook during the week and Homepass on the weekends!

14 |

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

Michelle Obama It’s date night - where are you making a reservation for dinner?

Jervois Steakhouse What was the last book you read?

Barefoot Investor

Where do you think New Zealand’s bestkept secret is?

New Chums Beach

What is your greatest fear?

Worry for my kids growing up in an unknown world

How do you start each morning?

Walking the dog and getting the kids off to school - then my coffee!

Where in the world do you wish you could head to for a holiday?

Hawaii for relaxation and shopping!

THE BLACK BOOK.

Professional

What was your first job?

Working in a rest home in Devonport What did you want to be when you grew up?

A singer! Haha - I cannot even hold a single note Tell us the thing you love the most about working in real estate?

The relationships I make - new friendships most of the time

What motivates you?

The joy from helping someone move onto their next chapter What do you hope you’ve achieved in five year’s time?

Chairman’s Elite Status and mortgage free Tell us someone who inspires you?

My Mum - she is such a hard worker!

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

The number one thing you must do is communicate and be honest

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

Hot! It is actually a lot harder working in this market as an agent - emotional rollercoaster

What would you consider to be your greatest achievement?

My two kids Millie and Sam, without a doubt

What separates you from other agents?

I tend to be myself and what you see is what you get - I am extremely honest

THE BLACK BOOK.

| 15

A celebration

International Women’s Day In celebration of International Women’s Day on the 8th of March, Ray White asked their top female agents to answer a series of questions. Our very own Heather Walton was featured and we are thrilled to bring you her answers in The Black Book.

16 |

THE BLACK BOOK.

Why real estate and how did you start in the industry?

My entire career has been about property. Firstly, property law, then property development and consultancy, and now selling. My background was the perfect foundation to grow a real estate business. I also love the contact with people and helping them reach their goals and dreams. My father was also a rural agent.

How does your usual day look?

Wake early, meditation and exercise, followed by coffee and plan the day with my hubby. My week is very structured, so it depends on what day of the week it is. Monday and Tuesday are for call-backs, Wednesday and Thursday appointments, and Friday is a day off. Then Saturday and Sunday are open homes – and a million things in between.

What do you enjoy most about being with Ray White? What makes real estate different?

I love how advanced our technology is compared with the competition. It gives us such an edge and a jump on our competitors. When you list with Ray White, you list with 2,100 agents New Zealand-wide who could potentially sell your property. We work together as one big team. With Ray White, it is possible to be whatever you want to be whether it is a top agent or business owner.

The world is your oyster.

Tell me about a unique success story?

There are so many. But a recent one was a vendor choosing to sell for $3 million as a pre-auction offer, but the buyer ended up not being ready in time, so the auction went ahead selling for $3.5 million with a lot of bidding and competition. I was so pleased that the auction was not cancelled, went ahead, and had a life-changing outcome for my vendors.

What is the one thing you know now that you wish you knew when you first started out?

The importance of consistency in a particular patch whilst marketing yourself digitally. There are two main avenues in my opinion. Your patch where you need to be consistent and then your overall market presence. It is a business cost and its something you need to commit to doing well, right from the get-go. Hindsight is not a winning strategy.

Where do you see yourself in the next 12 months? What are your goals?

This year will probably be the last year you will see me in the top of the country recognition stakes. I am shifting my focus to mainly mentoring and growing my team. I will still work for friends and past clients, but my motto is quality, not quantity. I Just want to focus on outstanding results for clients and growing my people as a business owner.

Are there any other Ray White women who inspire you and why?

Marie Roas has always been such a legend and an extremely incredible achiever for years, even through the loss of her husband, she carried on and is still a magic operator – especially for her age. She was outstanding when it was still quite a heavily male-dominated industry. I respect her enormously and she is a lot of fun.

What advice would you give to women starting out in the industry?

Make the most of the networks that are available to you uniquely as women and use it to your advantage. Especially when your children are little there are so many opportunities to meet other parents, network, support community events. It can be so rewarding to give back as your career grows if you are consistent with your community involvement and support. n

THE BLACK BOOK.

| 17

Y E LLOW LO O K S A R E L IG H TI N G U P I NT E R I O R S Move over Millennial pink – the hot new colour of summer, bold and cheery Gen Z yellow, is adding a refreshing burst of brightness to our homes. With its lively sunshine hues, Gen Z yellow is a ray of optimism and positivity in a world that is increasingly challenging.

No colour expresses hope and reassurance more than yellow, according to Pantone colour forecasters.

18 |

THE BLACK BOOK.

What first appeared on the catwalk and in shop windows is now becoming popular on our walls and in interior textiles and accessories. The actual Gen Z shade is somewhere between marigold and French mustard, but as it gains popularity, the colour yellow is stealing the spotlight in every shade from lemon and primrose to earthy ochre and rich deep mustards, even a vibrant marigold.

And wouldn’t you know it, metallics have begun switching from rose gold and copper – which paired so well with Millennial pink – to brass and yellow hued golds.

Interior designer Juliet Coleman says that while it’s been very much a neutral palette for some time, it’s nice that we’re starting to have more colour inside.

“Yellows are definitely coming through because they complement other colours. It’s such a lovely, warm vibrant hue that goes well with so many different shades. They pair with cooler greys and earthy tones, for example, but you have to use it quite carefully. Finding the right tone and sheen to suit your room is important.”

It’s a natural colour, and everything in interior design is going back to nature right now.

“You also need to consider the effect of lighting,” she says.

“Mattes are easier to work with than high gloss yellows, which can be a little overwhelming in some spaces.”

Another aspect that might influence your choices is the different meanings that different cultures attribute to yellow.

In some countries, yellow means peace. In Japan, yellow stands for courage. But in Egypt, yellow is worn to signify the dead at funerals.

The strident yellow tones of the wattle tree are seen everywhere in Australia, as it is their national flower. It seems no coincidence that Australians have enthusiastically embraced the trend towards yellow, even the stronger mustard tones.

“It’s possibly something to do with their strong light and the arid landscape, not like the more mild New Zealand, where we see fresher yellows and yellows in smaller quantities.”

“It’s a natural colour,” says Emma Wallace of Emma Wallace Design. “And everything in interior design is going back to nature right now. Yellow has connotations of sunshine and brightness. But, remember it can also be quite cold. A pale buttery yellow was paired with blue in kitchens and bathrooms in the 1990s. That is not a look we’re returning to.”

Yellow is notoriously tricky to use in large doses. It’s how you use it and what you blend it with that matters. Break it up with an interplay of contrast, texture and pattern.

THE BLACK BOOK.

| 19

It’s also true that yellow brings out the best in other colours.

If you’re tired of a neutral scheme, what better way to relieve the boredom with a corn coloured cushion, art, picture frame or throw?

You don’t have to cover all the walls in one colour, either. Juliet recently created a striking scheme in a boy’s room where the walls are painted inky blue to a line about waist height with white above. For a lemon twist, cushions accessorise stripy blue and white duvets and a yellow cushion provides contrast in the corner.

For a warm sophisticated scheme that will enliven the neverending darkness of winter, Juliet says the contrast of bright yellow, mustard or ochre with ashen greys like Resene Grey Area or Resene Double Ash and midnight blues like Resene Indian Ink works well.

“Black and yellow are an even stronger combination but is equally successful. It’s a dramatic look,” she says. To get the look, Juliet suggests trying a moody black wallpaper – something with a sheen or even glitter – with a glossy black architrave in Resene Noir. Pair it with yellow chairs in Resene Thumbs Up, a black table in Resene Charcoal and perhaps a bright yellow vase in Resene Turbo.

20 |

THE BLACK BOOK.

It’s also true that yellow brings out the best in other colours.

If you’re tired of a neutral scheme, what better way to relieve the boredom with a corn coloured cushion, art, picture frame or throw?

A touch of blue adds a warm finish to yellow. Try blues that have yellow or green undertones like Resene Bismark, Resene Wishing Well or Resene Fast Forward and combine them with darker stained timber like Resene Colorwood Tiri or Resene Colorwood Jarrah. Or, try an ochre yellow like Resene Influential or a mustard like Resene Cleopatra paired with forest green like Resene Mother Nature or Resene Permanent Green, neutral timber in Resene Colorwood Whitewash or Resene Colorwood Natural and some potted plants to liven up the space.

If you want to brighten a room with a playful Mexican look, be brave with orangey yellow like Resene I Dare You on the walls and fabrics and furniture in vivid red similar to Resene Smoulder or turquoise like Resene She’ll Be Right. It can look stunning balanced by doses of crisp white like Resene Double Alabaster and an absolute black like Resene Blackout.

“It’s difficult to combine yellow with other bright primary tones and make them work,” admits Juliet, “You have to get the right tones.” She recommends going for a deep rust red, like Resene Raging Bull or Resene Dynamite, paired with a warm yellow, like Resene Chorus Line.

Fresher lemon yellows Resene Wild Thing tend to be cooler and work well as a backdrop to schemes that pair shades of white like Resene Merino or Resene Sea Fog with splashes of hot pink like Resene Pink Ribbon or Resene Irresistible. As an alternative, try a teal like Resene Yowza.

“A cooler canary yellow like Resene Honeysuckle or fresh lime yellow paired with crisp white and soft bluish greys or Resene Duck Egg Blue looks almost Scandi married with pale timber tones,” says Juliet. Cool and calming, this is a great scheme to deflect the light on the brighter northern side of a home.

Remember the amount of light pouring into a room can have quite an impact on your scheme. If the room is on the darker side of the house, choose warmer tones.

Because it’s so bright, yellow makes an impact, even when used in small doses. Yellow accessories are eye catching enough to completely change the look of a room. “Give a room a bit of a twist,” says Juliet “with just a touch of yellow to make it pop without overtaking the space. It might be an artwork, a cushion, a beanbag, even drawer handles or hooks on the wall.”

Otherwise neutral palettes can be effectively brightened by yellow accents, says Emma. “Vibrant yellow can do wonders to enliven the cool clinical surfaces of dark industrial-style interiors, like those in converted warehouses.” She notes that yellow is an ideal colour for warming up those grey toned man-made finishes that can feel inherently cold by nature. “Although it’s usually used as an accent, it is particularly effective in bringing warmth to metal, stainless steel and polished concrete. It brings warmth, even on the dullest days.” n

THE BLACK BOOK.

| 21

Greater Auckland >

2

3

2

3

2

3

2

3

2

3

2

3

2 3

2 3

2 3

2 3

East & Bays >

2

3

2

3

2

3

2

3

2

3

2

3

2

3

2

3

2

3

2

3

2

2 3

2 3

2 3

2

2

North Shore >

2

3

2

3

2

3

2

3

2

3

2

3

2

3

2 3

Coastal & Lifestyle >

2

3

2

3

2

3

2

3

2

3

2

3

2 3

2 3

2 3

2 3

2 3

2 3

Auckland Central >

2

3

2

3

2

3

2

3

2

3

2

3

2

3

2

3

2

3

2 3

2 3

2 3

2

2 3

2 3

2 3

2 3

2 3

2 3

2 3

2 3

2

2 3

2

2

2