web look issue99

1 / look / Current to June 9th, 2015 Current to June 9th, 2015 / look / 1

Number 1 for

Greater Ponsonby property

Central Auckland | Issue 99 | Current to 9th June 2015

Household delivered to: Newton, Eden Terrace, Kingsland, Arch Hill, West Lynn, Western Springs, Morningside, part of Mt Eden, Point Chevalier, Westmere, Herne Bay, Cox’s Bay, Saint Marys Bay, Ponsonby, and Freemans Bay;

also available outside most local real estate offices and selected supermarkets.

Ripe for the picking!Proudly marketed by Matt O’Brien, Barfoot & Thompson Ponsonby see page 5 for details


Advertise in Look local and get noticed – tell your agent

Email [email protected] 021 646 768

Great rates, amazing coverage, results you want

...shhhhh, you can’t sell a secret Management & Rentals Ltd

MREINZ

1/1 Franklin Road

PO Box 47271, Ponsonby

Auckland, New Zealand

Phillipa Gordon AREINZ

Director

Management & Rentals LtdMREINZ

Tel: 09 378 9560

Mob: 0274 746 507

Fax: 09 378 9324

Email: [email protected]

www.hotpropertyrentals.co.nz

Established in 1996 and managing properties all over Auckland. We are a small boutique agency and you can trust our team to look after your property as if it was our own.

Please call me to arrange a FREE

Management Appraisal on your property.

Tel: 3789-560 Fax: 378-9324 Email: [email protected]/1 Franklin Road, Ponsonby www.hotpropertyrentals.co.nz

Phillipa Gordon 0274 746 507

This recipe is great for a dinner party as it is cooked hours beforehand, tastes great and very easy to make.

Ingredients1 large piece eye fillet steakoil for rubbing beef ½ cup raw sugar ¾ cup olive oil 1 tablespoon chilli flakes2-3 cloves garlic, peeled and crushed¾ cup soy sauce

MethodPreheat the barbecue to very hot. Rub the beef with the olive oil and roll in the raw sugar. Cook the beef on the barbecue for approximately 15-20 minutes, turning as required. The sugar will caramelize and turn black. Wrap the fillet in 5 layers of tinfoil, securing the ends. Leave for 2 hours, do not refrigerate.

To make the marinade, heat the olive oil in a small saucepan. Add the chilli flakes and garlic and sauté for 5 minutes to allow the flavours to infuse. Remove from the heat and add the soy sauce. Slice the beef into thick slices, place in a deep dish, and pour over the marinade, reserve a little for serving. Leave for 2 hours covered with tinfoil. Before serving, arrange beef on a platter. Stir the marinade and pour a little over the beef.

Enjoy

Jamie

From the kitchen of Jamie Oliver, Barfoot & Thompson Ponsonby

HOLY MOLY COW contributorsMark WithersStephen TsangCarole Pedder Nick AshfordGail VietriSue Tierney

contactsPublisher Lisa [email protected] 646 768

lookmediaAdvertising inquiries [email protected] Look Media NZ Ltd PO Box 45034 Auckland 0651 p 09 948 8976

LOOK is published by Look Media

While we have made every effort to present accurate and reliable information we do not endorse, approve, or certify such information, nor do we guarantee the accuracy or completeness of such information. Opinions expressed are not necessarily those of the publisher or its advertisers. No content within this publication can be used, copied, modified or redistributed without the express permission of the publisher. If you believe any of the information contained in this publication is incorrect please write to the [email protected]


Number 1 for

Greater Ponsonby property

Central Auckland | Issue 99 | Current to 9th June 2015

Household delivered to: Newton, Eden Terrace, Kingsland, Arch Hill, West Lynn, Western Springs, Morningside, part of Mt Eden, Point Chevalier, Westmere, Herne Bay, Cox’s Bay, Saint Marys Bay, Ponsonby, and Freemans Bay;

also available outside most local real estate offices and selected supermarkets.

Ripe for the picking!Proudly marketed by Matt O’Brien, Barfoot & Thompson Ponsonby see page 5 for details

insidelook

Find us on Facebook Look Media NZ

5 Ripe for the picking!


Contact Carole Pedder on [email protected] 09 376 8864 for more information

24-26 Pollen St, Ponsonby | Ph 376 8860 | www.wt.co.nz

In Part I, last issue, I discussed the first two common mistakes that

investors make in managing their property portfolio, failure to have a long-term plan and selecting an investment property based on perceived tax benefits. The next two are equally important and worthy of discussion.

Getting the Structuring WrongThe best time to seek advice on how to structure your property investments is BEFORE you have purchased your property, not after. The tax rules relating to property transactions are complex. Failure to take professional advice as to what the best structure is for your long-term goals can have costly outcomes and usually results in the unintentional triggering of taxing provisions that otherwise could have been avoided.

Another common mistake made by investors is to attend to shareholding changes of property owning companies without taking professional advice first. Although it is relatively easy to go online at the Companies Office and make changes to your companies shareholding, the tax implications of a shareholding change (especially for a look through company) can be far reaching,

and have significant tax implications such as deemed disposals, loss of continuity and depreciation claw backs. Not to mention the potential to undermine your lending covenants with your Bank.

Mortgage Terms and ConditionsWhen the going gets financially difficult, it is not uncommon for an investor to decide to sell a property so that they can utilize any capital

gain made to pay down personal debt and to relieve some financial pressure. Unfortunately I often see investors’ list properties for sale, before they have reviewed what impact the sale of the property will have on their overall lending position with their bank. This is especially true if they have two or more properties and the investment properties are cross securing the investors mortgages.

In circumstances such as this it is common that the bank will insist that the surplus funds realized from the sale, be utilized to further pay down the remaining mortgages to keep the security of the remaining properties within the Banks’ lending criteria. This results in the investor being short in the amount of cash they expected to have available to pay down personal debt and relieve financial pressure as originally intended.

It is also common for investors to overlook the cost of breaking fixed rate mortgages, and can often find themselves having to pay hefty

break fees which are sometimes in the tens of thousands of dollars, especially in a low interest rate environment.

Therefore, having a set long term investment plan and ensuring you have taken professional advice before you make any major decisions will ensure that you get best return out of your property investments. I am happy to help work with you and your goals, to achieve the best result possible.

4 mistakes commonly made by residential property investors Part II

Carole Pedder, Partner Withers Tsang

M O R T G A G E SSUE TIERNEY

Sue [email protected] Ph: 09 914 7555 Mob: 021 776 222

24–26 Pollen Street, Ponsonby www.stml.co.nz

You want it, we make it happen

LVR changes not all badAuckland’s

median house price

is 60 percent above its 2008 level, and house prices in Auckland have been rising rapidly since late last year. This reflects ongoing supply constraints and increased demand, driven by record net immigration, low interest rates and increasing investor activity. Prices in the Auckland region have become very stretched, increasing the risk of financial instability from a sharp correction in prices.

A second area of risk for the financial system relates to the dairy sector, which is experiencing a sharp fall in incomes due to lower international prices. Many highly leveraged farms are facing negative cash-flows, and the risks will become more pronounced if low milk prices persist beyond the current season.

“The third key risk arises from the current very easy global financial conditions. Low

interest rates are encouraging investors into riskier assets in the search for yield. Prices of both financial and real assets are becoming overextended in many markets. There is an increasing risk that the current benign conditions unwind in a disorderly fashion, disrupting the cost and availability of funding for the New Zealand financial system.”

LVR RestrictionsIn response to the growing housing market risk in Auckland, the Reserve Bank is today announcing proposed changes to the loan-to-value ratio (LVR) policy. The policy changes, proposed to take effect from 1 October, will:

• Require residential property investors in the Auckland Council area using bank loans to have a deposit of at least 30 percent.

• Increase the existing speed limit for high LVR borrowing outside of Auckland from 10 to 15 percent, to reflect the more subdued housing market conditions outside of Auckland.

• Retain the existing 10 percent speed limit for loans to owner-occupiers in Auckland at LVRs of greater than 80 percent.

“We are proposing these adjustments to the LVR policy to more directly target investor activity in the Auckland region, where house prices relative

to incomes and rent are far more elevated than elsewhere in New Zealand.

“The objective of this policy is to promote financial stability by reducing the rate of increase in Auckland house prices, and to improve the resilience of the banking system to a potential downturn in the Auckland housing market.”

Mr Wheeler emphasised that while the new measures aim to moderate housing demand, policies to ease housing supply constraints in Auckland remain the key to addressing the region’s housing imbalances over the longer term.

Deputy Governor, Grant Spencer, said that the Bank will issue a consultation paper in late May, providing further details and seeking feedback on the new LVR proposals.

“Prior to the proposed introduction of the policy in October, we expect banks to observe the spirit of the restrictions and not seek to expand high-LVR investor lending in Auckland.

“Given the importance of encouraging residential construction activity in Auckland, and consistent with the existing LVR policy, the proposed LVR restrictions will not apply to loans to construct new houses or apartments.

“Consistent with the LVR measures, the Reserve Bank is establishing a new asset class for bank

loans to residential property investors. Banks will be expected to hold more capital against this asset class to reflect the higher risks inherent in such lending.

“Following a lengthy consultation process, we have decided that a residential property investor loan will be defined as any retail mortgage secured on a residential property that is not owner-occupied.”

A summary of submissions received in response to the consultation will be released later this month, and details will be provided on the implementation of the new asset class, including on the proposed capital treatment of residential investor loans.

The new asset class will take effect from 1 October 2015 for new lending, with a further phase-in period of nine months for the reclassification of existing loans.

“Given the broader risks facing the financial system, it is crucial that banks maintain their capital and liquidity buffers and apply prudent lending standards. Later this year the Reserve Bank will be reviewing bank capital requirements in light of global and domestic developments affecting the safety of the banking system,” Mr Spencer said.

Sue Mihakis-TierneySue Tierney Mortgages


If you are looking for location and views you will want to secure this smart two double bedroom, two-

storey unit in the heart of Saint Marys Bay. Proudly sitting in an elevated position, which will give the lucky occupants of this home, majestic views of the Harbour Bridge, West Haven Marina and Auckland City - the city view at night is just breathtaking.

This home is perfectly livable as is right now, but offers huge potential to take it to the next level. The premium position in this desirable area make it perfect to transform into something cutting edge, the area certainly stacks up.

This home comes complete with two outdoor entertaining areas, a balcony just off the open plan living area and also its own private courtyard on the level below. There is also a single garage that completes the package.

Central & city fringe specialistsContact Rachel Hawes: (09) 815 4018 | 021 485 778 | [email protected]

www.thelocals.co.nz

Residential rentals & property managementSpeak to a Local today.

TheLocalstmKingsland

Make it happen!8/99 Shelley Beach Road, Herne Bay

2 1 1

Price by negotiation

Please call to view

Sherryl Jones021 122 3651

Jack Atherton021 739 655

Barfoot & Thompson Ponsonby184 Ponsonby Road, Ponsonby

You will love this welcoming brick and tile unit in a fantastic location. It is immaculate throughout

with a renovated kitchen and bathroom, presented in a fresh neutral palette. There are two bedrooms with built in robes and a separate laundry.

The north facing courtyard receives all day sun, is fully fenced for privacy plus there’s a small vegie garden, a garden shed and a single carport. Located in a friendly neighbourhood (1 of 6 units) and is within an easy stroll to Pt Chevalier beach.

This is expected to be highly sought after by those starting out as well as looking to downsize. A solid investment however you look at it.

The Wright Choice2/27 Wright Road, Pt Chevalier

www.sellrealestate.nz property tab for more information

Price by Negotiation

Please call for open home timesLawrence von Sturmer027 227 9294

Jo de Beer0274 694 148

Ross Brader0274 755 977

Derek von Sturmer0275 337 357

[email protected]

Professionals Real Estate 338 Pt Chevalier Road, Pt Chevalier 483 Richmond Road, Grey Lynn Sell Real Estate Ltd MREINZ Licensed REAA 2008

2 1 1


Published fortnightly

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Local properties / Informative editorial

Not big and bulky so ads don’t get lost

Great profile

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#1 tactile publication in the area

Ponsonby Ripe for the pickings!

Auction: 1:30pm Wed 3rd June 2015 at 34

Shortland St, City (unless sold prior)

View: Sat & Sun 12:00 - 12:30pmwww.barfoot.co.nz/544656

Matt O’BrienM 021 687 866

E [email protected]

Ponsonby 09 376 30394 1 1

59 O’Neill StFirst time on the market in over 50 years, the time has come, the current owners are committed to moving on, this is your opportunity to make her your own - your vision - your own creation - your dream Ponsonby villa. She has sensational street appeal, quality character, and massive potential to become a beautifully renovated family home on one of Ponsonby´s hottest streets. She has plenty of room inside with four bedrooms and a big combined dining-lounge. Positioned on a north facing 359m² elevated section the option for double garaging under the house would be an obvious one. In zone for Ponsonby Primary, Richmond Road School, Ponsonby Intermediate, Auckland Girls´ Grammar and Western Springs College means options abound for first class schooling for all ages. Don´t miss this opportunity to acquire a virtual blank canvas with stunning ´turn of the century´ villa frills and flair. Make it your own!

Advertise in Look local and get results – tell your agent

Email [email protected] 021 646 768

Great rates, amazing coverage, results you want

Use Look and get results


NEW LISTING

Freemans Bay 71 Franklin Rd Auction: 1:30pm 10 June 2015 at 34

Shortland St, City (unless sold prior)

View: Saturday & Sunday 1.00 - 1.45pmwww.barfoot.co.nz/545563

André BoddéM 021 662 873

E [email protected]

Ponsonby 09 376 3039

Nikki BoddéM 021 662 873

E [email protected]

Ponsonby 09 376 30393 1 1 1 1 2

RARE OPPORTUNITYLight up your dreams of central city living in this easy split-level spacious home.First time on the market in more than 30 years, this enduring gem would benefit from a rejuvenating make over.Built in the 70’s this solid concrete block home ticks many boxes - location, space and privacy and just a stroll to Ponsonby and the City. Currently configured to 3 bedrooms, study, separate lounge and dining area, plus large outdoor central courtyard.Access to the private grassy common area is a bonus for children, pets or just having the grass and trees without the maintenance.Call today, it doesn’t get any better than this!


Approximate boundary

AUCTION WEDNESDAY

Grey Lynn Last Chance To View This Grey Lynn Do-Up! Auction: 1:30pm 27th May 2015

34 Shortland St, City (unless sold prior)

View: Sat & Sun 1pm - 1:30pm

(or by appointment) www.barfoot.co.nz/543572

Matt O’RourkeM 021 375 909

E [email protected]

Grey Lynn 09 360 2323

Ryan HardingM 021 621 580

E [email protected]

Grey Lynn 09 360 23233 1 1 1 1

24 Tuarangi Rd, Grey LynnOver the last 32 years our vendor has had countless people knocking at the door hoping to buy his bungalow positioned on 460m2 of elevated Grey Lynn land. Finally the time has come for him to down size and sell this beauty of a do-up! Located on the slip road above Tuarangi Rd you’re just 180m from the cafes and shops of Grey Lynn and in zone for Grey Lynn School. Grab this opportunity to buy a character home on a full site in a location that you thought was out of reach. Roll up your sleeves, polish the floors, paint the exterior, re carpet the bedrooms or do the full monty extension like the neighbours. DIY-ers this is the one you’ve been waiting for! 2014 CV $820k View the video at www.mattandryan.co.nz


A classic 1940s bungalow loved and cared for by the current owner for nearly 40 years. The house offers three bedrooms, study, basement storage, solar water heating, large deck and views to Waiatarua and the Hunuas.

The vision to purchase the neighbour’s backyard many years ago has created amazing park-like grounds offering a special sanctuary in the city, complete with fruit trees. A haven for native birds!

To be sold as one lot 42 Ladies Mile – 885m2 2014 CV - $910,000 44A Ladies Mile – ½ share of 885m2 2014 CV - $520,000

AuctionOn site 12 noon Wednesday 11th June (will not be sold prior)

Open Homes Saturday and Sunday 3 –3:30pm & Wednesday 12 – 12.30pm

Bevan Domett 09 630 0029View further details at www.domett.co.nz

Stunning Large Grounds – Simply Breathtaking42 & 44A Ladies Mile, Remuera

Grey Lynn Branchwww.barfoot.co.nz

[email protected] M: 027 499 0855 P 09 360 2323

Repeka Lelaulu

Repeka Lelaulu24 years experience

24 years of great results!#1 salesperson Grey Lynn

2010-11 and 2013-14

11 / look / Current to June 9th, 2015 Current to June 9th, 2015 / look / 11www.bayleys.co.nzAll companies within this composite are Members of Bayleys Realty Group

GREAT EXPECTATIONS St Marys Bay

Auction (unless sold prior),

2pm, Wed 10 June 2015

4 Viaduct Harbour Ave, Auckland

View Sat/Sun 12-1pm

www.bayleys.co.nz/1670240

Suzie PaineM 021 976 008

[email protected]

Simon SmithM 027 492 1698

[email protected]

25 Hackett StreetExpect the unexpected. A very private property, 819m² of land on two

titles in the highly sought after St Mary´s Bay. The property provides

the next owner with several options or flexibility in renovating this

large beauty. Currently a two-level, five (large) bedroom villa with two

bathrooms, a grand living room, generous basement space and

separate double garage (technically on the second title). There is

plenty of room for a pool and all the trimmings in the large north-

facing garden.

A truly exciting opportunity to renovate, redesign, or redevelop.BAYLEYS REAL ESTATE LTD, PONSONBY, LICENSED UNDER THE REA ACT 2008.

NEW LISTING

PRIVATE NORTH FACING FAMILY ESTATE48 Argyle Street, Herne Bay

Price by Negotiation View phone for viewing times


Karen Spires AREINZM 027 273 8220

B 09 375 8494

[email protected]

On 1475m² of established grounds. A luxury, European provincial-

style home, built in the 1940s from solid brick and cement rendered,

this is a warm family retreat. Two outdoor entertaining zones,

including an outdoor fireplace and an outdoor dining area sheltered

from the sun under a pergola. Chic and stunning, the kitchen is

designed for easily entertaining large numbers in style. The spacious

and grand master suite with large walk-in wardrobe and ensuite

overlooks the pool and upstairs there are three double bedrooms, a

lounge and two bathrooms. Two huge rooms are in the basement.

Internal access double garaging and plenty of off-street parking. A

simply stunning and unique Herne Bay property. CV $4,500,000.

BAYLEYS REAL ESTATE LTD, PONSONBY, LICENSED UNDER THE REA ACT 2008.

WATERFRONT FANTASY, BIG FUTURE41 Marine Parade Herne Bay

For Sale View phone for viewing times


Robyn ClarkM 021 707 529

B 09 375 8494

[email protected]

Peter TannerM 021 379 379

B 09 375 8494

[email protected]

Indulge in an amazing, magical boaties’ paradise at the bottom of

your garden. This rare 911m² property is one of the few with a big,

beautifully maintained boat shed on the water’s edge, to launch the

boat, swim, kayak or step straight onto your paddle board - even just

enjoy as an enticing room for entertaining - options are endless. Full

of character, the classic 1940s brick and tile home is solid and

comfortable, luxuriating in peaceful privacy and perfect views across

the harbour. Sun-drenched living areas with real fires pour out to a

wraparound deck. There are four bedrooms and two bathrooms plus

huge undeveloped rooms downstairs. Incredible location so close to

the CBD and Ponsonby.BAYLEYS REAL ESTATE LTD, PONSONBY, LICENSED UNDER THE REA ACT 2008.

LIGHT AND BRIGHT LOCK UP AND LEAVE21C Farrar Street, Grey Lynn

Auction 2pm,

Wed 3 Jun 2015 (unless sold prior)

4 Viaduct Harbour Ave, Auckland

View Sat/Sun 1-1.30pm


Robyn ClarkM 021 707 529

[email protected]

Peter TannerM 021 379 379

[email protected]

Brand new architecturally designed apartment with reassuring timber

exterior gives the property a timeless quality that you will appreciate.

Recently built to exacting standards with superior finishes including

European stone and quality fixtures and fittings takes this home to a

new level. European designer kitchen, open plan dining and living

opens onto enclosed west facing deck/loggia area. Oak wooden

floors, marble benches and tiled wall adds a chic touch to the

functional hub of the home. Three bedrooms, two bathrooms,

includes master bedroom with walk in wardrobe and ensuite. This

apartment style living with space and style, storage, double internal

garaging offers a care free lifestyle with lock up and leave freedom.BAYLEYS REAL ESTATE LTD, PONSONBY, LICENSED UNDER THE REA ACT 2008.


Western Springs 139 Western Springs Road

Elevated and beautifully positioned on the desirable northern slopes of Western Springs here’s a home to lift the spirits.

Immaculately presented, this well proportioned bungalow offers the whole package for families - generous living

spaces, 3 or 4 bedrooms, safe level gardens with plenty of room to play, fabulous entertaining decks and a city fringe

location that’s hard to beat for convenience.

Designed to catch every last drop of sun with a central heating system, this really is a home for all seasons. Soak up

the rays morning or afternoon and look forward to a toasty welcome after a long day at work during the chillier months.

A versatile garden studio adds even more to this compelling proposition. If family matters, this is without question a

"must see" - look forward to welcoming you through this weekend!

New Listing

3 A 2 C 2 F 2 K

AuctionSunday 14th June at 3pm (unless sold prior)

View at advertised open home times

www.thelocals.co.nz/KGL21599

Ruth Hawes

021 482 797 (09) 815 4012

[email protected]

Tim Hawes

021 482 601 (09) 815 4016

[email protected]

LICENSED (REAA 2008)

AuctionSunday 14th June at 3pm (unless sold prior)

View at advertised open home times

thelocals.co.nz/KGL21599

Ruth Hawes

021 482 797 (09) 815 4012

[email protected]

Tim Hawes

021 482 601 (09) 815 4016

[email protected]

LICENSED (REAA 2008)

Ruth Hawes 021 482 797 & Tim Hawes 021 482 601Ray White NZ Residential Salesperson #1 2013, #1 2014, #3 2015437 New North Rd, Kingsland | www.thelocals.co.nz The Locals Ltd Licensed (REAA 2008)

Call us, we’ll look after you too.

*Ruth Hawes, ranked #1 in Auckland Ray White Customer Satisfaction survey January-March 2015


Your home deserves a team effort and that’s exactly what you’ll get with Professionals Grey Lynn. Together our team has over 50 years’ combined experience in the real estate industry. We harness our complementary skills in a common sales goal to maximise our efforts to sell your home. Your concerns as the vendor will always be our top priority.

Jodie Bell – highly creative with a flair for interior design. Jodie will advise you on staging,

de-cluttering and presentation to ensure that your home will appeal to a wide range of

potential purchasers.

Brent Gilbert – our in-house auctioneer and a skilled negotiator. Brent will assist you with

auction day strategy, planning and reserve setting.

Ross Brader – promotion and marketing. Ross will ensure that your home receives maximum

market exposure so that it reaches the right target audience.

We've registered a large number of motivated buyers who are urgently looking for homes in the

Arch Hill, Grey Lynn, Herne Bay, Ponsonby and West Lynn areas. Many are seeking do-ups in all

price ranges, while others are looking in the $1.8m to $3m range for quality villas and bungalows.

When appraising your home we'll provide you with a full market report, an estimate of its value

and advice on preparing your home for sale, all at no cost or obligation to you.

Call us today to find out how our collaborative approach to selling your home will produce the

best possible sales outcome.

Call our team now on 0800 735 546483 Richmond Rd, Grey Lynn, Auckland | sellrealestate.nz | Sell Real Estate Ltd – licensed real estate agents REAA 2008 Grey Lynn Team

Our team approach will give you the edge

Wanted now!

Brent Gilbert 0274 415 026

Jodie Bell 0274 287 720

Ross Brader 0274 755 977

Homes in Grey Lynn,

West Lynn, Arch Hill,

Herne Bay, and

Ponsonby

SOLD!

SOLD!

Left to right: Ross Brader, Brent Gilbert and Jodie Bell

web look issue99

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