The Black Book Issue 99 - Current to 7 June 2024

THE BLACK BOOK.

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SIXTY TOWN PROPERTIES COASTAL COUNTRY OVER

HELLO.

Editor's Letter:

Welcome to the 99th edition of the Black Book—our milestone 100th edition is just around the corner! As winter approaches and the temperatures begin to drop, let's take a look at the current market trends.

Several factors are influencing the real estate market, but the primary focus is the upcoming brightline property rule change effective from July 1, 2024. The government has announced a reduction in the bright-line period from 10 years (or five years for new builds) to just two years. This means that the bright-line property rule will apply only if a property is sold within two years of purchase, starting from this date.

Why This Matters for You? This regulatory change is expected to trigger a surge of property listings as many will rush to realign their investment strategies. To ensure you stay ahead in the market, we’re offering you the chance to plan your property sale with us, beating the anticipated rush.

In these times of uncertainty, buyers and sellers need facts, not media speculation, to make informed decisions. We take our duty to you very seriously and are committed to turning your real estate dreams into reality.

Happy reading!

Warm regards,

Ray White Epsom

FEATURED PROPERTY

201/20 DEVORE STREET

BRIGHTLINE RUSH AN IMPORTANT UPDATE

22

AUCTIONS MAY / JUNE 2024

OPINION

5 THINGS YOU NEED TO ABOUT THE HOUSING

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

THE ULTIMATE IN LUXURY LIVING

Overlooking Auckland’s prestigious St. Heliers Bay, these five luxury apartments combine contemporary design with a fresh coastal aesthetic.

SONATA APARTMENTS

Sonata is a boutique complex of just five ultra high end apartments. With just one luxury residence per floor, this unique offering on level two delivers expansive open plan living with a cleverly designed sliding wall giving the flexibility of being able to separate the spaces.

Complete with the best appliances and finishing materials available, Sonata sets a new standard in high end luxury living.

Elevated above the Bay in St Heliers with unobstructed views out to the harbour entrance from Rangitoto to Devonport and the North Shore, you will be captivated by the changing vistas and entertained by the ever changing harbour activity from both the inside and outside of this stunning home.

With St Heliers Village at your door step you have everything here you could ever want or need for an easy and luxurious life ahead

Buchan design principal Todd Crighton designed to respect the scale of the simple elegance to the street - “We wanted to the site, while working within the setbacks.”

Crighton says Sonata has been sensitively the surrounding homes and present a wanted to visually anchor the building the demanding building envelope setbacks.”

Hot Pick

CREME DE LA CREME IN PRIME LOCATION

21 REIMERS AVENUE

MT

EDEN

This five double bedroom family residence discreetly secluded on a leafy avenue in Mt Eden, retains all the quintessential Circa 1920 characteristics. Moreover the delightful bay villa with detached coach house garaging has just been given a new lease on life. The home is now re-piled, reroofed, rewired and fitted with low maintenance double glazing to maintain year-round comfort.

The flat, fully fenced, landscaped 756 sqm (approx.) section will appeal to those who need to keep kids and pets safely penned. Parking on the driveway will take at least 5 cars. In zone for excellent schools including Balmoral, Mt Albert and Kowhai Intermediate, the location is close to public transport, local nosheries and shops with a short trip to the CBD.

THE BRIGHTLINE BEAT RUSH

Article by Heather Walton

We have some crucial updates regarding real estate regulations that could significantly influence your property selling strategy. Effective from 1st July 2024, the government has announced a reduction in the bright-line period from 10 years (or five years for new builds) to just two years. This means that the brightline property rule will apply only if a property is sold within two years of purchase, starting from this date.

Why This Matters for You

This regulatory change is expected to trigger a surge of property listings as many will rush to realign their investment strategies. To ensure you stay ahead in the market, we’re offering you the chance to plan your property sale with us, beating the anticipated rush.

Key Dates to Remember

AML Compliance Deadline: By May 27, 2024

Anti-Money Laundering (AML) compliance is essential to ensure your sale proceeds smoothly. Completing this step by the deadline will help avoid any delays.

Staging & Professional Photos: May 30 or 31, 2024 (or sooner)

High-quality staging and photography can significantly impact buyer interest and final sale price. Ensure these are done promptly to launch your campaign effectively.

Campaign Launch Date: June 5, 2024

A well-timed and strategic marketing campaign can attract the right buyers quickly. Launching early can give you an edge in the competitive market.

Implementation of New Bright-Line Rule: July 1, 2024

This is the date when the new two-year bright-line period comes into effect. Sales completed before this date will still be subject to the current rules.

Auction Dates: July 4 and 11, 2024

These dates are prime opportunities to finalize sales. Auctions can generate excitement and competitive bidding, potentially increasing your sale price.

Maximizing Your Returns

Take advantage of this opportunity to maximize your returns by preparing early. With the anticipated influx of properties on the market, having a proactive and strategic approach will be vital. We offer comprehensive support, from market analysis and pricing strategies to marketing and negotiation.

Ready to Discuss?

Contact us for a no-obligation chat to understand how these changes might affect you and to plan your next steps. We’re here to help you navigate these updates with confidence and ease. Whether you're looking to sell quickly due to the new regulations or simply want to ensure the best possible outcome, our team is ready to assist you every step of the way.

Final Thoughts

Adapting to regulatory changes can be challenging, but with the right guidance, it can also present new opportunities. The reduction of the bright-line period is a significant shift, and being prepared is essential. We are committed to providing you with the insights and tools necessary to make informed decisions and achieve your property goals. Reach out today to start planning your successful property sale.

Mark your Diary.

*Auctions correct at time of publishing. Auctions can be sold prior. Please check property details Online or contact the agent to confirm auction details are correct

Our May Auctions

29/5

30/5 Our June Auctions

2:00 pm, Wed 29 May

2E/33 MacKelvie Street

Grey Lynn

1:00 pm, Thu 30 May

10 Woodfern Crescent Titirangi

2:00 pm, Thu 6 June

21A Debron Avenue Remuera 6/6

12/6

13/6

1:00 pm, Wed 12 June

202/4 Victoria Avenue Remuera

1:30 pm, Thu 13 June

75A Parnell Road Parnell

20/6

1:00 pm, Thu 20 June 5 Winstone Road Mount Roskill

First-home buyers getting more bang for their buck right now

The five things you need to know about the housing market this week.

Investors and first-home buyers at an Auckland auction. The median price paid by first-home buyers this year is sitting below the $700,000 mark

CoreLogic chief economist Kelvin Davidson:

"Greater access to larger dwellings and at lower prices is just another aspect of the wider success story that has been the first-home buyer segment of late."

Written by

Kelvin Davidson source: oneroof

1. First-home buyers are getting more for less

I recently looked at the state of the first-home buyer market in New Zealand, analysing market share, the prices being paid and the properties being purchased. The conclusion is this: first-home buyers are getting more bang for their buck at present. Yes, it’s never easy to get that first property, and the median price paid by first-home buyers in Q1 2024 of $695,000 is still a stretch for many people. But it’s down from the $715,000-$720,000 mark 12-18 months ago. Stand-alone houses also now represent almost 75% of first-home buyer purchases, up from 70% in 2023. Greater access to larger dwellings and at lower prices is just another aspect of the wider success story that has been the first-home buyer segment of late.

2. Borrowers are paying more now to save later

The Reserve Bank’s figures for March showed that 57% of new loans (house purchases, bank switches and top-ups) were fixed for up to one year, slightly surpassing the previous record mark of 56% set just a month ago. These short fixes come at a cost, given that the interest rates remain higher than longer mortgage terms of 2-3 years, but the possible benefit is making savings later if and when market rates decline. Nobody has a crystal ball about when and how fast mortgage rates will drop, but I’d just make a simple point about the maths: if a one-year fix is currently 7% and a prevailing two-year rate is 6.5% (for simplicity), you need the one-year rate 12 months down the track to be less than 6% to save money over a full two-year horizon. Food for thought.

3. Rental growth and migration both past their peak?

Today we’ll get Stats NZ’s rent price measure for April followed by March’s net migration figures on Tuesday. These two sets of figures are tightly linked at present, with rents having been rising strongly in recent months, not least due to the big influx of new people into the country (and a tight-ish supply of available rentals too). That said, there were signs in the previous releases that both indicators are close to a turning point, if not past it already, and I’ll be watching closely for any further evidence this week. For people looking for a rental, however, it’s probably cold comfort, given that rents are already at a record high in relation to household income.

4.

High debt-to-income lending likely

to be restrained

It’s a busy week for data releases, and on Wednesday the Reserve Bank will publish figures for January to March on the amount of lending being done at high debt-toincome (DTI) ratios – now considered to be seven for investors and six for owneroccupiers. Given that mortgage rates remain high, which is naturally capping high DTI lending anyway, the latest published figures themselves won’t be of too much interest. But DTIs more generally remain firmly in the spotlight, given that formal restrictions are set to be imposed very soon. I think these rules will mark a significant shift in our lending landscape, tending to tie house prices more closely to incomes over the long term, and slowing down the rate that investors can grow a portfolio.

5. Some quick notes from my travels

Just finally, I spent a lot of time last week out and about visiting clients and presenting to various audiences, including property investors and banking professionals. The strong vibe is that the “real” economy is hurting, but people also seem to accept that interest rates won’t decline until inflation is firmly back in the box. Meanwhile, the appetite to buy and invest in property seems to be as strong as ever, but it’s going to be tricky to turn that sentiment into actual purchases until mortgage rates drop more significantly. Maybe a story for 2025, not necessarily 2024.

WHAT CLIENTS WANT.

Empty Nesters

Circa $1.8m budget

Desire a single-story layout with minimal quiet neighborhood stairs

3-4 bed, single garage

150sqm floor area, 450sqm land area Mangere

Family living

4 bed, 2 bath, 2 car, 2 living

650sqm section

Mangere Bridge

Older couple - low maintenance living

Circa $2.8m budget

3 bed, 2 bath, 2 car

Remuera, Bays area

Family home

Circa $3-3.5m budget

4 bed, 2 bath, 2 car + Pool Bays area

Low maintenance

Circa $2m budget

3 bed, 2 bath, 3 car North Shore

Villa on large grounds

Circa $3.5-4m budget

6 car garaging

Remuera

Family Home

Circa $2.5m budget

Private outside space

3-4 bed

Garaging

Waterview, Three Kings, Mt Roskill, Pt Chev

First Home

Circa $850k budget

Onehunga or Mt Albert

Circa $2.5m budget

4 bed, 2 bath

Central or City Fringe

Young Professionals

Circa $1.2m budget

3 bed, 2 bath, 1 car, 1 study low-maintenance

PALOMA

Serves one

The paloma epitomizes the no-fuss cocktail ethos, balancing sweet, sour, and salty notes while packing a boozy punch—and the iconic Mexican drink comes together in just a minute or two.

INGREDIENTS

1 Kosher salt

2 grapefruit wedge

½ oz. fresh grapefruit juice

¼ oz. fresh lime juice

2 oz. simple syrup

2 oz. mezcal or tequila

2 oz. club soda

METHOD

Step 1

Pour some kosher salt on a small plate. Rub half the outer rim of a highball glass with 1 grapefruit wedge; roll moistened rim of the glass in salt. Reserve wedge.

Step 2

Combine 2 oz. fresh grapefruit juice, ½ oz. fresh lime juice, and ¼ oz. simple syrup or 1 tsp. granulated sugar in salt-rimmed glass; stir until combined and sugar (if using) is dissolved. Add 2 oz. mezcal or tequila and fill glass with ice; stir until chilled, 30 seconds. Top with 2 oz. club soda, stir gently to combine, and garnish with the grapefruit wedge.

The Spanish name “la paloma” translates to “the dove” (and perhaps making one will bring you some peace), but some suggest the origin of this tequila cocktail’s name is related to the similar-sounding “pomelo,” Spanish for grapefruit and the flavor at the heart of the drink.

PINK RIBBON

A wonderful afternoon at our Ray White Pink Ribbon Fundraising event! We surpassed our $10,000 target, thanks to our 75 incredible guests and the generous support of 33 sponsoring brands.

The event featured live music by the talented @listentoloulou, delicious canapés by our favourites at @ sourcekitchennz all set in the stunning @sculptureum.nz venue.

We are deeply grateful to everyone whose contributions made this event possible. Your support enables us to aid the Breast Cancer Foundation in their vital research and support for breast cancer patients in New Zealand. This cause is close to many of our hearts, and your generosity makes a meaningful difference.

Heather Walton 021 432 167

Richard Thode 021 336 002

Annie Fan 021 400 903

Daisy Ou Yang 022 062 7634

Jacqie McGearty 021 283 2033

Mark Bycroft 021 968 946

Ross Hawkins 027 472 0577

Ben Sceats 021 815 159

Dallas Suifua 027 449 6384

Janice Hamilton-Cox 027 232 2356

Nick Lyus 021 998 004

Linh Yee 021 540 466

Brad Smith 021 243 7438

Elena Styles 022 175 8050

Jean Byun 022 1536 786

Ella Kiliuyi 021 418 638

Al-Fayed Khan 021 707 461

Goodgame 027 227 7404

Elinna Wang 021 036 9309

027 412 9984

Milne 021 252 3104

021 306 898

Nelson 021 856 789

027 595 6108

027 389 9599

021 534 329

022 043 2759

021 780 524

Andrew

Greg

Cherie Barker

Jo McDonald

Ani Hirini

Hannah Zou

Charlotte Inglis

Carrie

Ken Choong

Justine Koning

MEET THE BLACK GROUP REALTY TEAM

Loen Henry 021 598 518

Nick Mi 021 667 791

Robert Munro 021 881 911

Vincent Huang 022 266 6647

Lacy-Hauck 021 190 0611

Nicki Lambert 021 020 08000

Stuart Robertson 027 574 7659

Roberts 027 808 1830

Peter Burgham 021 288 8992

Sue Hatton 027 279 9696

Thornton 021 723 766

Philip Cox 027 488 8968

Hodson 021 816 953

Goodgame 021 035 4985

Rae Zhang 021 629 912

Park 022 491 0049

Dow 0274 662 660

021 443 361

Brenan 021 361 987

OUR PARTNER MORTGAGE ADVISOR

Thomas 021 051 6496

Dylan

Murray

Lynn

Mark

Mark

Misty

Trenton

Yunny

Yvette

Richard Bull

AUCTION

FOR SALE

• Classic 1950s brick and tile

• Great condition

• Top schools in DGZ

• Low maintenance

For Sale 21 Reimers Avenue, Mount Eden Set Date of Sale 13 June 2024, at 4pm (unless sold prior)

Auction 3/101 Gillies Avenue, Epsom 1:30pm, Thursday 23 May 2024 In Rooms (Unless Sold Prior)

• 2 off street parking onsite

• Ideal for families and investors

This five double bedroom family residence discreetly secluded on a leafy avenue in Mt Eden, retains all the quintessential Circa 1907 characteristics. Moreover the delightful bay villa with detached coach house garaging has just been given a new lease on life. The home is now re-piled, reroofed, rewired and fitted with low maintenance double glazing to maintain year-round comfort.

The flat, 756 sqm (approx.) section will appeal to those who need to keep kids and pets safely penned. In zone for excellent schools, the location is close to public transport, local nosheries and shops with a short trip to the CBD.

rwepsom.co.nz/EPS32613

Daisy OuYang 022 062 7634

daisy.ouyang@raywhite.com

Richard Thode 021 336 002 richard.thode@raywhite.com

Andrew Milne 021 252 3104 andrew.milne@raywhite.com

AUCTION

Exuding opulence and incorporating the qualities of a five star luxury hotel, this brand new high end apartment is abundant in space.

Delivering a generous 110m2 (approx) of open plan comfortable living, Apartment 202 in the Eastern wing of Victoria Lane is an ideal place to relax and make home. Fully secure with hotel style amenities including a residence garden, reception area with concierge, adjacent to a welcoming and elegant residence lounge, complete with open fire and luxurious furnishings and looking out to the two storey glass covered entry and vehicle arrival area.

Step into urban tranquility with this inviting one-bedroom apartment, designed to meet your every need. Its seamless openplan layout effortlessly connects kitchen, dining, and living spaces, creating a perfect hub for relaxation or entertaining.

Unwind on the north-facing balcony, basking in the warmth of sunny afternoons, while the convenience of two secure car parks below adds practicality to luxury.

AUCTION

SALE

Bellevue Road, Mount Eden

Reimers Avenue, Mount Eden

• Steeped in history and loved for 25 years

• Entertain Effortlessly, or walk to the many local cafes, bars and restaurants

• Zoned for AGS, EGGS, MAGS, ANI, MENPS

• Or explore the option of townhouses with Resource Consent already secured

This five double bedroom family residence discreetly secluded on a leafy avenue in Mt Eden, retains all the quintessential Circa 1907 characteristics. Moreover the delightful bay villa with detached coach house garaging has just been given a new lease on life. The home is now re-piled, reroofed, rewired and fitted with low maintenance double glazing to maintain year-round comfort.

The flat, 756 sqm (approx.) section will appeal to those who need to keep kids and pets safely penned. In zone for excellent schools, the location is close to public transport, local nosheries and shops with a short trip to the CBD.

Thode

336 002

21 Reimers Avenue, Mount Eden

This five double bedroom family residence discreetly secluded on a leafy avenue in Mt Eden, retains all the quintessential Circa 1907 characteristics. Moreover the delightful bay villa with detached coach house garaging has just been given a new lease on life. The home is now re-piled, reroofed, rewired and fitted with low maintenance double glazing to maintain year-round comfort.

The flat, 756 sqm (approx.) section will appeal to those who need to keep kids and pets safely penned. In zone for excellent schools, the location is close to public transport, local nosheries and shops with a short trip to the CBD.

Set Date of Sale 13 June 2024, at 4pm (unless sold prior)

Richard Thode 021 336 002 richard.thode@raywhite.com

Andrew Milne 021 252 3104 andrew.milne@raywhite.com

AUCTION

Road, Mount Roskill

This private rear cross lease home with new carpets, blinds and an exterior tidy up is ready now for new owners. Perfect for downsizers or first home buyers. Walking distance to nearby schools and shops it's an affordable opportunity in a great neighbourhood.

Robert Munro 021881911

robert.munro@raywhite.com

Living/dining and kitchen open out through bifold doors on the upper level, complete with two bedrooms, full bathroom and laundry on the ground floor. A private fenced courtyard and storage shed complete the package.

By Negotiation

By Negotiation

By Negotiation

SET DATE OF SALE

Mid-century style meets low-maintenance living with this peaceful, sun-filled home. Set back from the road, this three-bedroom, single-level property boasts a top Northern Slopes location.

Set Date of Sale

2:00pm, Thursday, 23 May, 2024 (Unless Sold Prior)

By Negotiation

$3,450,000

By Negotiation

By Negotiation

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NEGOTIATION

Negotiation

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By Negotiation

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Auckland Greater

Reassuring brick and tile are combined with considered spatial planning for everyday family life in this single level home. A fantastic location for young families with a local reserve on the boundary accessible via a private gate where your kids can make the most of outdoor play.

lynn.lacy-hauck@raywhite.com

Elevated at the top of the desirable South Titirangi ridge line to maximise the stunning views, this home is a light-filled and tranquil respite from busy daily life.

Professional couples and young families will love the versatile layout, indoor and outdoor living spaces and mix of original 1970s character with modern comforts as much as the sought after location.

Charlotte Inglis 021 306 898

charlotte.inglis@raywhite.com

Lynn Lacy-Hauck 021 190 0611

lynn.lacy-hauck@raywhite.com

By Negotiation

By Negotiation

MATAKANA OMAHA

By Negotiation

COASTAL LIFESTYLE

By Negotiation

By Negotiation

Ensconced in a piece of private paradise, Pahoia Point is a coveted private retreat inspired by world-class luxury and modernist architecture.

Designed by award-winning architects Warren & Mahoney the premium home itself encompasses over 1,000sqm of extraordinary living, providing for four double bedrooms plus a large premium guest suite.

This property has many strings to its bow - a putting green, tennis court, and infinity pool are just a few of the carefully designed onsite amenities.

https://hawkinsproperty.co.nz/coastalandlifestyle

Ross Hawkins 0274 720 577

ross.hawkins@raywhite.com

NEW BUILDS

By Negotiation

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