Central Unlocked | August 2022

central unl cked NO 01

PROPERTY CYCLE INSIGHTS KIERAN TRASS, FOUNDER OF TELLMETHETIME DISCUSSES IF THE PROPERTY CYCLE IS DIFFERENT THIS TIME

CCCFA CHANGES

MORTGAGE ADVISOR NIKKI KAPADIA EXPLAINS THE CHANGES AND HOW THEY COULD IMPACT YOU

THE FUTURE OF AUCTIONS RIGHT NOW OUR AUCTIONEER, AARON DAVIS AND REINZ TALK ABOUT AUCTIONS IN THE CURRENT MARKET

JULY / 2022

INSIDE

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INSIDE THE MARKET TRENDS, STATS AND INSIGHTS

A NOTE FROM THE 4 DIRECTOR

#PROPERTY SPOTLIGHT

INSIDE THE MARKET

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14 NOMINATE A LOCAL BUSINESS

PROPERTY CYCLE INSIGHTS

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RICHARD HUMPHREYS

JUNE 2022

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835D MANUKAU ROAD, ROYAL OAK

SUPPORT LOCAL

WITH KIERAN TRASS

CCCFA CHANGES 10 SIMPLIFIED MORTGAGE MARKET WITH NIKKI

THE FUTURE OF 11 AUCTIONS RIGHT NOW REINZ + AARON DAVIS

TIPS FOR RISING INTEREST RATES

MINT CAKERY ELLERSLIE

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JOIN OUR TEAM

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LOVE YOUR LOCAL

SUPPORT LOCAL

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PROPERTY MANAGEMENT FOCUS

CAN BUYERS TAKE 16 ADVANTAGE OF THE CURRENT MARKET? JULIE DAVIES

STAY WARM THIS 17 WINTER TIPS TO KEEP YOUR HOME COSY

12 Twentythree Group Ltd Licensed REAA 2008

Business Owners Richard Humphreys 021 893 310 richard.humphreys@harcourts.co.nz Abbey Davis 027 464 5121 abbey.davis@harcourts.co.nz Business & Performance Manager Andrew Simich 021 479 473 andrew.simich@harcourts.co.nz

#PROPERTY SPOTLIGHT 835D MANUKAU ROAD, ROYAL OAK Beautifully curated from an architectural mind, excellently located at the green heart of Royal Oak, and newly built for those who place quality of life above all else.

Operations & Marketing Manager Abbey Lucas 021 058 5388 abbey.lucas@harcourts.co.nz 95 Manukau Road, Epsom Auckland 1023 Central Unlcocked is subject to copyright in its entirety and the contents may not be reproduced in any form, either in whole or part, without written permission.

Opinions expressed in Central Unlcoked are those of contributors and not necessarily those of Twentythree Group Ltd. No responsibility is accepted for unsolicited material.

A NOTE FROM THE DIRECTOR Richard Humphreys When Abbey and I purchased the Harcourts office here in Epsom in 2020; Covid19 was a side note on the news cycle and as we approached the settlement date we headed into lockdown. There are always challenges when taking over a company, but doing so while in a nationwide lockdown was unprecedented! At the time we came together with our team and worked our tails off. In 2022 Harcourts NZ chose the theme “One Team, We’ve got this” and for me this theme laminated how our team had come through the era of covid and the really pulled together helping each other through lots of different challenges from the previous couple of years.

At the halfway point this year more challenges have presented themselves with the CCCFA, high interest rates & inflation putting pressure on the market, in a way many of us have never seen or experienced before. With this changing market the team at Harcourts Twentythree have adapted swiftly to provide fast, relevant information so that our clients can navigate this very different market, and despite the challenging market our client testimonials have still been fantastic as vendors and buyers appreciate the effort that is required to get deals done.

got !

ONE TEAM

WE’VE THIS

PROPERTY INSIDE t n e m e g a n a M FOCUS THE

t e k r a M

ISSUE 6 | 2022

Bringing you news from the world of New Zealand property management.

Tips for Dealing with Rising Mortgage Rates

“In my experience winter tends to be a time when people list their property because they have made a summer purchase or they are looking to get ready to buy when more selecRising interest rates are bad news for first home buyers and borrowers alike, with new homeowners and tion comes on in Spring.” For Auckland the current average days to sell of 44 is more than investors (those who bought homes in the last 18 months) facing much higher mortgage repayments for the the 10-year first time. With the Reserve Bank of New Zealand signalling further interest rate hikes are on the horizon, average which is 38 strain days.on There were 28 budgets weeks ofand inventory in June 2022mortgage which repayments? howfor canJune, we avoid placing already tight stay on top of bigger is 19 weeks more than the same time last year. This year, as supported by the REINZ staHere are some options: tistics, properties are staying on the market longer and there is more stock, with the sales Check 43.3%. what mortgage you are count1.down

currently on The first step is to determine how your The market is not allis doom andasgloom - we have seen increased activity through the back current mortgage structured, interest increases will affect thebuyers coming back into the market after a noticeable end of Junerate and more first home floating portion of your home loan, dropas when the camerate intoterms effect in December 2021. The biggest impact for most well as anyCCCFA fixed interest thatcurrently are endingisthat going torates be as they affect affordability and coupled with inflabuyers theare interest refixed.is putting pressure on household budgets. However buyers are enjoying the tion fears, If you’re not sure your home loan choice and this is inhow relation to the is structured, contact your lender or number of groups open mortgage adviserthrough to help you workhomes which Tony Alexander confirmed in his June surthrough the details.

It’s worth booking vey of the real estate industry. Overall properties are still selling but often we are needing in a home loan restructure checkmultiple offers before a property is going unconditional. in with a Mortgage Express branded adviser, to ensure you’re getting the 3. Devise a plan to help you manage Get expert advice about your best deal available to you, and that higher repayments financial situation Richard Humphreys your home loan is structured to fit your The Reserve Bank (RBNZ) has With more interest rate hikes predicted, requirements.

Business Owner | Harcourts Twentythreewarned that a noticeable number of it’s important to have a financial plan 2. Determine how interest rate households that borrowed for the in place to help you cope with higher increases impact you first time in 2021 will find it difficult mortgage repayments. As well finding to pay their mortgages and cover all ways to cut back on unnecessary Now that you know how your home their other usual expenses. If you’re spending, building up a savings buffer loan is structured, your mortgage in this situation, start building up a could help you prepare for higher costs adviser can help you determine the savings buffer now to help you manage ahead. impact any interest rate rises will have the higher repayments you are going to on your home loan repayments. You If you’re concerned about the impact face in the year ahead. can also use a home loan repayment higher mortgage repayments could calculator – like this one – to work out Take a close look at your budget to have on your financial situation, it’s what your repayments are going to identify the expenses you can cut out best to seek help immediately. Contact look like. or ways in which you can boost your your mortgage adviser or lender to income. Check that you’re getting the discuss your situation before you miss If your fixed rate term is nearing the best deal for utilities – power, internet any repayments. end, now is a good time to discuss and phone – and pay down any high with your mortgage adviser locking in Contact a Mortgage Express branded interest debt as soon as you can to an interest rate. It’s also worthwhile adviser if you have questions about help free up extra cash to divert into comparing how your interest rates your existing home loan and the your home loan. stack up against any other deals in the impact higher interest rates could have market, and this is something else your on your financial situation. mortgage adviser can help you with.

Source: https://www.mortgage-express. co.nz/blog/rising-mortgage-rates Harcourts is New Zealand’s largest and most trusted real estate group*, with over 2600 sales consultants across 197 offices and a growing property management team. For more information visit www.harcourts.co.nz. While every effort has been made to ensure that the

JUNE 2022

AUCKLAND CENTRAL MARKET INSIGHTS Source: REINZ

Research has revealed that property cycles follow a relatively predictable pattern with little left to chance. You will sometimes hear the catch cry the property cycle is different this time followed by a list of seemingly logical reasons given for why that is the case.

KIERAN TRASS

Yet, as the property cycle typically progresses, surprise surprise, the outcomes turn out to be much the same as in previous cycles.

Having closely observed four New Zealand property cycles and several cycles in several other countries, I can tell you it is true that no two cycles are identical.

However, they do often rhyme with previous cycles.

Certain patterns emerge relatively consistently at specific points in the cycle but often the events that result in these patterns look and sound different to events in previous cycles.

For example, the GFC of 2008 was considered to be very different (i.e. much worse) than the Asian Financial Crisis of 1998 yet the impact on property values was similar. Now the Pandemic is today being considered to be very different (i.e. much worse) than the GFC. The property cycle implies they are more similar than commonly thought.

These events are inputs, if you like, that ultimately impact on property values. The events themselves may look vastly different when compared to each other so are deemed to result in different outcomes. However historically events like these have resulted in remarkably similar outcomes. For example, the Asian Financial Crisis impacted on the NZ property market and Auckland property values fell by 7% in 1998 as a result. Values then recovered most of that loss within 1 year.

The GFC on the other hand had a similar impact. Auckland values fell by 10% in 2008 as a result. Values then recovered most of that loss within 1 year.

The Pandemic is a similar event with a likely similar outcome.

We are yet to see where values land and how long they will take to recover however history implies values will land soon enough and then recover before long, unless of course “it is different this time…”

-

Kieran

Kieran Trass has authored several property cycle related books including the 2004 bestsellers "Grow Rich With The Property Cycle" and "Secrets of the Canadian Real Estate Cycle". The inspiration to research property cycles during the 1990’s was based on his observation of long term recurring trends evidenced in the Auckland property market as a financier and property investor. That research led to the creation of the TellMeTheTime ® methodology in 2001 to analyse property cycles and identify valuable property cycle insights to accelerate property investment wealth creation.

HOW DO THE CHANGES IMPACT YOU? Richard Humphreys & Nikki Kapadia shed some light on what the CCCFA amendments mean for anyone looking to sell or buy property.

The amendments on the CCCFA that have come in recently, what does that mean?

The most recent changes to the CCCFA mean that the banks may be slightly relaxed when reviewing clients' expenses and bank statements.

They are no longer viewing savings and investments as an expense, so long as full disclosure is made.

They are likely to accept that certain discretionary expenses will be reduced or stopped based on clients’ confirmation. e.g, reduction in KiwiSaver contributions or extra payments on student loans etc. These deductions help client’s with increase their affordability with the lender. However, the key lies in the Mortgage adviser’s submission notes. If they address the clients' expenses adequately, the lenders are less likely to revert with obvious questions.

What impact can we expect to see in the market?

The CCCFA changes that came into play December last year led to fewer applications being approved.

It led to increased anxiety and stress for potential home buyers, having to jump through hoops, answer all the questions raised, provide evidence to get an approval.

The easing of the CCCFA brings in hope, giving the applicant a better chance of approval. It sure is a move in the positive direction.

What’s your recommendation to people who are thinking of buying and selling?

Buyers, I would say see a Mortgage Adviser and have them assess your situation. Try to get a pre approval before making an offer.

It is being said that we are in a buyers’ market. That being the case a pre-approval can better your chances to negotiate and get you into your new home or get you that new home.

Sellers, I’d have to say, it’s important to have realistic expectations. Analyse the numbers over the period of ownership, as opposed to, the last couple years. It’s important to evaluate the reasons for selling objectively.

What is your opinion of how this change will affect the market in the short to medium term?

Currently, we are in a market where the interest rates are on the rise, and the property market is favourable towards the buyers. Will this last long, do not know, cannot say.

What we can do, is be prepared to act quickly. If you are in the market to buy, get pre-approved by the bank and keep looking for that right home or investment for you.

As agents, we are seeing too many people coming into the market without pre-approval and they’re 'feeling things out', but then finding a property which they can’t purchase, as lending can’t be organised fast enough. As a seller, you want assurance quicker from buyers, so getting in position will help you stand a better chance of negotiating to secure the property you want.

”

- Richard Humphreys

Disclaimer: Nothing said or written here in this publication is intended to be personal advice. You should discuss your financing options with a professional. Nikki Kapadia gives financial advice through 9ine Finance Solutions Limited trading as Mortgage Express.

What is happening out there at the My recommendation to vendors is go moment with the conversations agents to the market, looks for the cash, if it’s are being faced with? enough to sell, sell - if not, deal with the conditional market. This has been around For starters, it’s hard to catch a falling a long time, markets will come, markets market, and what I’ve seen is that will go, the true sales professionals know markets always move faster than agents the process of auction, where as others and the vendor. The buyers in todays that start going to price by negotiation, market, they’re not looking for a bargain, deadline sale, essentially watered down they’re expecting a bargain but they buy versions of selling, aren’t sticking to the where they see the market go, in a broad best process. Vendors that say I don’t sense. have to sell, I don’t need to sell, and I’m in no particular rush - sorry this is not the How can a salesperson have the right market for you. Last year had speed, you conversation with vendors around could wait as the market caught up to your Auctions today? price, however now if you wait the gap gets bigger and bigger.

They’ve got to know their facts, not give opinion. The agents that are investing How do you manage Auction day? ahead of the curve, know in real-time what’s selling in the market two weeks Auction day is a process - we go in with no ago, because that’s the market. In two assumptions, the best way to approach weeks time, is it going to be different? the day is to help people have courageous It doesn’t matter because you’ve got to conversations. My job is to be open with have the current facts including your vendors on auction day, rather than telling clearance rates, what’s not selling under them what they want to hear. I need to the hammer, and post-auction data. get them the facts. As I say a lot at the moment “the universal hasn’t singled “Cash is the only currency that has any you out, we’re all in this market together. credibility in todays market. I’m doing Focus on the money you’ve made in the auctions at the moment, where a buyer last however many years, don’t focus on turned up, the property passed in at the $20-30k that you’ve given auction and they thought this property up in the last few months. was better than the current one they were under contract with, so he put an offer in subject to cancelling his first agreement. That’s buyers remorse.

#PROPERTY 835D Manukau Road, Royal Oak

THE QUEEN ON QUEENSWAY

SPOTLIGHT CONTEMPORARY, CONVENIENT, COMMITMENT TO SELL Beautifully curated from an architectural mind, excellently located at the green heart of Royal Oak, and newly built for those who place quality of life above all else, this is 835D Manukau Road.

Discreetly positioned from the road front but within arm’s reach of excellent schools, Royal Oak Mall, city-bound roads, and essential amenities, this prized location lays it all on. As a substantial home, 835D Manukau has been sophisticatedly streamlined across three levels, encouraging sociability, versatility, and quietude with seamless alfresco connections. Given the options of a secondary lounge and the centralised living, which is accentuated by a bespoke-crafted kitchen and an alfresco extension to the semi-sheltered deck, every space rises to an occasion, be it entertaining or casually relaxing.

Click here for more info Price by negotation Viewing As advertised or by appointment

Glen Foster E: glen.foster@harcourts.co.nz M: 027 288 3927

Separated between the ground and top floors, all five bedrooms are a place of respite, with the master being the utmost luxurious, offering an ensuite and walk-in robe.

Two family bathrooms and a guest powder room provide 5-star service to all.

The use of superior materials to build a sound environment and well-judged aesthetic look shows the expert design commitment from Shanahan Architects. The latest in-home technologies afford all-season comfort and security, while multiple streams of light from architectural lines to natural and ambient - elevate the mood.

There is an internal access, carpeted double garage, couture laundry facilities, and the happy absence of outdoor maintenance.

With a highly committed vendor, the directive is to sell.

PROPERTY t n e m e g a PROPERTY n a M t n e m e g FOCUS a n a M FOCUS

ISSUE 6 | 2022 ISSUE 6 | 2022

Bringing you news from the world of New Zealand property management.

Bringing you news from the world of New Zealand property management.

TipsFOR for Dealing with Rising Mortgage Rates TIPS DEALING WITH RISING MORTGAGE RATES Tips for Dealing with Rising Mortgage Rates Rising interest rates are bad news for first home buyers and borrowers alike, with new homeowners and investors (those who bought homes in the last 18 months) facing much higher mortgage repayments for the Rising interest rates are the bestofnews first home buyers andinterest borrowers new first time.

With the Reserve Bank New for Zealand signalling further ratealike, hikeswith are on the horizon, Rising interest rates are badstrain news for already first home buyers andand borrowers with newmortgage homeowners and homeowners and investors (those who bought homes in the 18of months) facing much higher how can we avoid placing on tight budgets stay last onalike, top bigger repayments? investors (those who bought homes the last 18 months) facingBank muchofhigher repaymentsfurther for the mortgage repayments for the firstintime.

With the Reserve New mortgage Zealand signalling Here arerate some options: interest are on Bank the horizon, how cansignalling we avoidfurther placinginterest strain on tight and first time.

Withhikes the Reserve of New Zealand ratealready hikes are on budgets the horizon, stay on of bigger mortgage how cantop we avoid placing strain already tight budgets and stay on top of bigger mortgage repayments?

1. Check what mortgage you areonrepayments? currently on Here are some options: The first step is to determine how your 1.current Checkmortgage what mortgage you are is structured, as currently on increases will affect the interest rate floating portion of your home loan, The first as step is to determine how your as well any fixed interest rate terms current mortgage is structured, as that arerate ending that are be interest increases willgoing affecttothe refixed. floating portion of your home loan, asIf well asnot anysure fixedhow interest terms you’re yourrate home loan that are endingcontact that areyour going to beor is structured, lender refixed. mortgage adviser to help you work thesure details.

It’s worth booking Ifthrough you’re not how your home loan in a home loan restructure checkisinstructured, contact your lender or with a adviser Mortgage Express branded mortgage to help you work adviser,the to ensure getting the through details.you’re It’s worth booking deal available to you, and that inbest a home loan restructure checkloan isExpress structured to fit your inyour withhome a Mortgage branded requirements. adviser, to ensure you’re getting the best deal available tointerest you, andrate that 2. Determine how your home loan is structured to fit your increases impact you requirements.

Now that you know how your home 2.loan Determine how your interest rate is structured, mortgage increases impact youdetermine the adviser can help you impact rateyour riseshome will have Now thatany youinterest know how on your home loan repayments.

You loan isalso structured, yourloan mortgage can use a home repayment adviser can –help determine the out calculator likeyou this one – to work impact any interest rate rises will have what your repayments are goingYou to on your home loan repayments. look like. can also use a home loan repayment calculator – like one – to work If your fixed ratethis term is nearing theout what aretogoing to end,your nowrepayments is a good time discuss look withlike. your mortgage adviser locking in an interest rate.term It’s also worthwhile Ifcomparing your fixed rate is nearing the how your interest rates end, now is a good time to discuss stack up against any other deals ininthe with yourand mortgage adviser locking market, this is something else your an interest rate.

It’s can alsohelp worthwhile mortgage adviser you with. comparing how your interest rates stack up against any other deals in the market, and this is something else your mortgage adviser can help you with.

3. Devise a plan to help you manage higher repayments The Reserve Bank (RBNZ) has 3.warned Devisethat a plan to help you manage a noticeable number of higher repayments households that borrowed for the firstReserve time inBank 2021(RBNZ) will find difficult The hasit cover to pay that theiramortgages and warned noticeable number ofall their other usual expenses.

If you’re households that start borrowed forup the in this situation, building a first time in 2021 will find it difficult savings buffer now to help you manage tothe pay theirrepayments mortgagesyou andare cover allto higher going their other usual expenses.

If you’re the year start ahead. inface thisinsituation, building up a savings nowat toyour helpbudget you manage Take a buffer close look to the higherthe repayments you can are going identify expenses you cut outto face in theinyear ahead. or ways which you can boost your income.

Check that you’re getting Take adeal close look at your budget to the best for utilities – power, internet identify the expenses you canany cut high out phone – and paycan down orand ways indebt which you boost your interest as soon as you can to income.

Check thatcash you’re getting the help free up extra to divert into best deal for loan. utilities – power, internet your home and phone – and pay down any high interest debt as soon as you can to help free up extra cash to divert into your home loan.

Get expert advice about your financial situation With more interest rate hikes predicted, Get advice about your plan it’s expert important to have a financial financial situation in place to help you cope with higher mortgage repayments.

As well finding With more interest rate hikes predicted, ways to cut back on unnecessary it’s important to have a financial plan building up a savings buffer inspending, place to help you cope with higher could help you prepareAsfor higher costs mortgage repayments. well finding ahead. ways to cut back on unnecessary spending, building upabout a savings buffer If you’re concerned the impact could help you prepare for higher costs higher mortgage repayments could ahead. have on your financial situation, it’s to concerned seek help immediately.

Contact Ifbest you’re about the impact your mortgage adviser or lender to higher mortgage repayments could discuss your situation before you have on your financial situation, it’smiss any repayments. best to seek help immediately. Contact your mortgage adviser Express or lenderbranded to Contact a Mortgage discuss situation before you miss adviseryour if you have questions about any repayments. your existing home loan and the impact higher interest rates could have Contact afinancial Mortgage Express Contact our Mortgage Advisor,branded Nikki on your situation. adviser if you have questions if you have questionsabout about your existing home loanhome and the Source: https://www.mortgage-express. your existing loan and impact higher interest rates could the impact higher interesthave rates co.nz/blog/rising-mortgage-rates on your financial couldsituation. have on your financial situation.

Source: https://www.mortgage-express.

M: 0274 555 574 Harcourts is New Zealand’s largest and most trusted real estate group*, with over 2600 sales consultants across 197 officesco.nz/blog/rising-mortgage-rates and a growing Nikki property management team. For more information visit www.harcourts.co.nz. While every effort has been made to ensure that the KAPADIA information of the publication is accurate, we recommend that before relying on this information you seek independent specialist advice. *Readers Digest Most Trusted Brand Survey 2013-2022.

Harcourts is New Zealand’s largest and most trusted real estate group*, with over 2600 sales consultants across 197 offices and a growing property management team. For more information visit www.harcourts.co.nz. While every effort has been made to ensure that the

E: n.kapadia@mx.co.nz

AS A BUYER, CAN I TAKE ADVANTAGE OF THE CURRENT MARKET? OUR AGENT JULIE DAVIES SHARES SHARE'SHER HER ADVICE With prices off their peak, With prices off their peak, and more stock on the and more stock on the market, haveaagreat great market, buyers buyers have opportunity tonegotiate negotiate opportunity to now thanpreviously previously now - more than with whoare arehighly highly with vendors who motivated to sell. motivated sell.

0275 299 109 julie.davies@harcourts.co.nz www.jdavies.co.nz

DON’T FORGET YOU’RE BUYING & SELLING IN THE SAME MARKET

Cash havean an advantage however, Cashbuyers buyerswill will always always have conditional buyers have a window of opportunity to purchase advantage however, conditional buyers have a window of with a high percentage ofopportunity necessarily selling at Auction. We to purchase a highinpercentage properties nota price have seen anwith increase stock nowofmarketed with sellingallowing at Auction.

We have seen an increasemoney in ornecessarily by negotiation; buyers to avoid spending stock now marketed with a priceand or by negotiation; allowing upfront on their due diligence, building this into the buyers to avoid spending money upfront on their due negotiation process. diligence, and building this into the negotiation process.

Banks are getting hungry with fixed 1-2 year interest rates Banks are getting hungry with fixed 1-2 year interest rates dropping and cash incentives being offered, suggesting the dropping and cash incentives being offered, suggesting the competition amongst the banks and the desire to lend is still competition amongst the banks and the desire to lend is still very recentCCCFA CCCFAchanges changesalso alsomean mean banks verymuch muchalive. alive. The The recent banks are more relaxed relaxedwhen whenreviewing reviewing arebecoming becomingslightly slightly more expenses, expenses, giving applicants a better chance of approval. giving applicants a better chance of approval.

AsAsthe andpressure pressureon onborrowers borrowersisis themarket marketstabilises, stabilises, and alleviated,buyers buyersare are seeing seeing more alleviated, moreaffordability affordabilityininthe the market.With WithFOMO FOMO disappearing disappearing from buyers can market. fromthe themarket, market, take a can littletake more their decision-making and work buyers a time littlewith more time with their with financial advisors to get a plan in place.

My suggestion decision-making and work with financial advisors to get ais to take advantage of the help, support, and expertise on help, plan in place.

My suggestion is to take advantage of the offer from myself and financial advisers, to make sure you are support, and expertise on offer from myself and financial exploring all options. advisers, to make sure you are exploring all options.

STAY WARM

&

HOW TO MAKE YOUR HOME MORE COSY THIS WINTER

THIS WINTER

door so you can pop them on as soon as you get in to instantly feel more relaxed and at home. In the bathroom, make sure you always have a bath mat laid out so there’s no cold feet postshower either. Hardwood floors are

Get cosy underfoot

How to make your home more cosy this winter As the days get shorter and the chill in the air becomes more noticeable, we tend to spend more time indoors with family and friends, so creating a warm and inviting home is a priority. Make sure your home is a cosy haven with these tips.

Get cosy underfoot Hardwood floors are ideal in summer, but during the colder months cover yours with a thick, lush rug. And don’t forget to leave your slippers by the door so you can pop them on as soon as you get in to instantly feel more relaxed and at home. In the bathroom, make sure you always have a bath mat laid out so there’s no cold feet post-shower either.

ideal in summer, but during the colder months cover yours with a thick, lush rug. And don’t forget to leave your slippers by the

Eat comfort food

Create a cosy couch or bed

On a cold winter’s night, salad is noone’s friend! It’s the season for soups and slow-cooked dishes, which are perfect for anyone who wants comfort food with minimal fuss.

We all spend a lot of time during winter curled up on the couch, so make sure it’s comfy and snug. If you have a leather couch, cover it with a warm throw to take away the chill and make the room more inviting. Having a couple more warm blankets at arm’s reach is also essential! A faux-fur throw is a great investment for your bedroom.

Casually drape one across the end of the bed during the day, and add it as a bedding layer during the night.

Rethink your lighting Due to less daylight hours, changing bulbs to warmer LEDs and adding lamps throughout the house is vital but especially in the bedrooms and living space.

Soft candlelight also gives another layer of ambience to a room and is also your best friend when it comes to flattering lighting. If your living room has a fireplace, use it as your primary source of light during the colder months.

Add curtains Kiwi homes came late to doubleglazing, so adding a second layer of insulation with curtains is more our style. Good curtains can reduce heat loss by up to 60% for single glazed windows, and 40% to 50% for double glazed, and reduce drafts.

L CAL& TELL MINT CAKERY

OUR AGENT, PAUL ELLIS SHARES HIS FAVOURITE LOCAL GEM Sometimes a little sweet treat (or two), is what you deserve, and Mint Cakery helps to hit that sweet spot.

Based in Ellerslie, Michelle is the master mind behind this well-oiled bakery. Her passion for baking inspired her to open her own shop in 2014. From shopping at local markets, buying fresh and seasonal ingredients, she uses her creative talents to create mouth-watering delicious goodies!

Once you’ve been, you’ll find yourself going back!

E: hello@mintcakery.com P: 021 104 2526 92D Marua Road, Ellerslie, 1051 Open 7 Days: 7:00AM - 2:30PM

YOUR HOME OUR NEIGHBOURHOOD AUCKLAND FRIED CHICKEN FESTIVAL SHED 10 | 30 JULY

Calling all fried chicken lovers, prepare yourselves! If you love fried chicken, this is your clucky day, because Auckland’s Fried Chicken Festival is back. A collection of food trucks will be serving up their best fried chicken dishes at Shed 10! Even better, you can travel the world with your palette as your passport, with each chef putting their own international twist on their menu, inspired by their heritage.

A WINTER WONDERLAND

THE GREAT COMEDY DEBATE

As part of Elemental AKL, the winter wonderland at Aotea Square is back bigger and better than ever with the return of the ice rink along with its infamous ice slide. Round up the crew because the popular cosy winter Snugs are returning and will be descending on Aotea square from 14 July until 31 July, available to be booked for up to six people. Kitted out with comfy furniture, blankets and—very important—heaters, you’ll be able to drink and dine from a selection of platters and enjoy an intimate soiree.

If like us, you’re in need of a good laugh and we’re talking about the belly chuckle kind, then head to Q Theatre on 17 August for an evening of comical debate.

Two teams of comedians battle it out to argue the age-old debate—Can love save us? Warning: Wild yarns are going to be thrown about the place as Kanoa Lloyd, Hayley Sproull, Dai Henwood, Angella Dravid and David Correos take to the stage. The best part is you as the audience gets to decide who takes home the winning crown. It’s going to be funny as.

AOTEA SQUARE | 14 - 31 JULY

Q THEATRE | 17 AUGUST

LEARN MORE Real estate is a profession that offers flexibility and rewards hard workers. If you want to hear about the challenges and rewards that come with a successful career in real estate, come along to our free careers evening.

OPERTY anagement CUS

WE’RE LOOKING FOR INDIVIDUALS TO JOIN OUR TEAM

driven

ISSUE6 | 2022

g you news from the world of ealand property management.

s for Dealing with Rising Mortgage Rates interest rates are bad news for first home buyers and borrowers alike, with new homeowners and rs (those who bought homes in the last 18 months) facing much higher mortgage repayments for the e. With the Reserve Bank of New Zealand signalling further interest rate hikes are on the horizon, n we avoid placing strain on already tight budgets and stay on top of bigger mortgage repayments? e some options: k what mortgage you are tly on t step is to determine how your mortgage is structured, as rate increases will affect the portion of your home loan, as any fixed interest rate terms ending that are going to be not sure how your home loan ured, contact your lender or ge adviser to help you work the details. It’s worth booking e loan restructure checka Mortgage Express branded to ensure you’re getting the al available to you, and that me loan is structured to fit your ents. rmine how interest rate es impact you at you know how your home tructured, your mortgage can help you determine the any interest rate rises will have home loan repayments. You use a home loan repayment tor – like this one – to work out ur repayments are going to e. ixed rate term is nearing the w is a good time to discuss ur mortgage adviser locking in est rate. It’s also worthwhile ring how your interest rates p against any other deals in the , and this is something else your ge adviser can help you with.

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3. Devise a plan to help you manage higher repayments The Reserve Bank (RBNZ) has warned that a noticeable number of households that borrowed for the first time in 2021 will find it difficult to pay their mortgages and cover all their other usual expenses. If you’re in this situation, start building up a savings buffer now to help you manage the higher repayments you are going to face in the year ahead.

Take a close look at your budget to identify the expenses you can cut out or ways in which you can boost your income. Check that you’re getting the best deal for utilities – power, internet and phone – and pay down any high interest debt as soon as you can to help free up extra cash to divert into your home loan.

Get expert advice about your financial situation With more interest rate hikes predicted, it’s important to have a financial plan in place to help you cope with higher mortgage repayments. As well finding ways to cut back on unnecessary spending, building up a savings buffer could help you prepare for higher costs ahead.

If you’re concerned about the impact higher mortgage repayments could have on your financial situation, it’s best to seek help immediately. Contact your mortgage adviser or lender to discuss your situation before you miss any repayments.

Contact a Mortgage Express branded adviser if you have questions about your existing home loan and the impact higher interest rates could have on your financial situation.

Source: https://www.mortgage-express.

Facts

THE SPEAK FOR THEMSELVES Our network sold

We have

$19 $2.2m 2,577 billion

197

That’s

offices across New Zealand

sales consultants

Every

26

of residential, rural & commercial property sold every hour

worth of property

50 Every

minutes someone buys a property with Harcourts

We benefit from

134 years

minutes a tenant moves into a Harcourts managed property

Our average agent rating is

10,400 4.8 5 We conducted more than

stars out of

experience in residential, rural-lifestyle, and commercial property.

auctions

Our people are the best trained in the industry, with access to over

Voted New Zealand’s Most Trusted Real Estate Brand for

10 years *

*

519

learning opportunities both face to face and virtually, with industry leading coaches, and guest presenters.

The Harcourts Foundation has raised

over $7m

All values expressed in New Zealand dollars and based on Harcourts NZ network figures and averages for the financial year end 31 March 2022. * Readers Digest New Zealand Trusted Brands Survey 2013-2022 Harcourts Group Limited Licensed Agent REAA 2008

This learning was highly valued by our network achieving a rating on average of

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for our communities globally

central unl cked Harcourts Epsom 95 Manukau Road, Epsom Auckland 1023 twentythree@harcourts.co.nz 0800 23 23 23 Twentythree Group Ltd Licensed REAA 2008 www.harcourtstwentythree.co.nz