May 10, 2025 • 41 mins
A neighbourhood in Christchurch has 24 new builds up for grabs - but you have to be over 45 to buy them.
The rules are more relaxed than retirement villages. Your family can come with, but at least one of the owners has to be over the age limit.
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News Talks b.
Speaker 2 (00:11):
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(00:32):
listen Wigan go so Wig by.
Speaker 3 (00:44):
Dance Yeah degree.
Speaker 4 (00:58):
Welcome back to the Weekend Collector. By the way, if
you missed the panel that we had a new guest
on the show and as no was Alan Blackman. He
was an aut science researcher and he was one of
our new panelists, went along with Irene Gardner and there
was a rollicking old house. Have you missed any of
the discussion you want to check it out, then you
can go and check out the podcast. Look for the
Weekend Collective on iHeartRadio or news Talk said bt CO
(01:19):
dot N said, no, we're going to take your calls
for this. How I don't forget eight hundred and eighty
ten eighty and he can text on nine two nine two.
And just before you introduce our guests for this hour,
the just to catch up with the news if you
haven't caught up with it. There is a neighborhood in
christ Church which has twenty four new builds up for grabs,
but there is a catch. You've got to be over
(01:40):
forty five to well to buy them, there has to
be someone who is over forty five living there. The
rules are a bit more relaxed than retirement villages. Your
your family can come come with you, but at least
one of the owners has to be over the age limit.
So the quick question on this is are there is
(02:05):
there some value in this? Is this something that would
attract you to buying a property or does it detract
or is it just look? Oh well, there's choice everywhere
if you want to go into It's a bit like
you know, some people when they hit sixty five, they
don't move into a retirement village, and some people choose
maybe they wait a bit longer, or maybe they never
go to a retirement village. This is not a retirement village,
(02:26):
although I must say you've got to be oble a
forty five. It does have a slightly mature sort of
ring to it. But there will be people who bought
it because they think, great, there's chances of me having
someone shooting basketball hoops at all hours of the night
or whatever, or letting off fireworks is probably going to
be slightly diminished. Anyway, we're going to explore it. Would
(02:47):
you live in an over forty five's community. Well, as
soon as you put it that way, it makes you
sound like you're joining some religious sect, doesn't it anyway
to discuss that is? She is CEO of the Property
Lifestyle and her name is Nicole Lewis, and Nicole, how
are you? A good afternoon?
Speaker 5 (03:02):
Good afternoon, Thank you for having me.
Speaker 4 (03:03):
So why did you This is an interesting idea because
I've noticed that I've got to keep away from the
retirement village thing, but I've noticed that there are certain developments.
I think there's quite a posh one there where I live,
where the age is not sixty five. They seem to
be getting younger. But now this one is it's not
a retirement village, but you've got to have one person
(03:25):
there living who's over the age of forty five. I'm
not sure it really excites me. But do you think
there's a market for this sort of thing?
Speaker 5 (03:36):
I don't know. It's interesting. I was actually chatting about
this very thing on the way here with my daughter,
and I suppose the developer has done their research. To
be fair, it's not like I've pulled out and done
any of that research. We do have an aging population,
so it's an interesting debate forty five. Oh, I must
be getting old, because that still seems pretty young. I
(03:56):
mean most people at forty five, if you've got a family,
the kids are still at home. They don't really leave
till you maybe in your fifties.
Speaker 4 (04:03):
It's a funny one, isn't it. How I mean, could
you buy one and rented up someone who's over forty
five and not short? The covenants say? And how restrict
How restrictive can you get with covenants over property? Can
you be quite prescriptive?
Speaker 5 (04:16):
You can. You can pretty much put whatever you like
on your covenants, exactly what.
Speaker 4 (04:19):
That somebody has to wear. You can only live here
if you wear a yellow T shirt on Thursdays or something.
Speaker 5 (04:23):
Yeah, pretty much. Yeah, we looked, we looked at what
we've just done, gone through one with covenants, and it's like, oh,
you can keep so many chickens, but no roosters, and
you can have one r V but not two and
every year what you can keep.
Speaker 4 (04:37):
So many chickens but ah chickens. Well we know what
to read. Example. Yeah, I'm still wanting to see if
that rooster that lives up around where I live and
cliff Freight. It's not far not far. It's far enough
away that I never hear it. But I've member going
for a walk and hearing this grim thinking and seeing
the thing and thinking, I can't believe no one's shot
that thing yet. So we want to know for you,
(04:59):
what do you reckon I eight one hundred eighty and
eighty a development where one of you living in the
property has to be forty five years or older. Somebody's
texted already saying, goodness, me, forty five is still quite young.
My children of forty three and forty five, and they're
very young children. In fact, to be honest, there'd be
plenty of people who wouldn't have even bought their first
time by forty five exactly. Yeah, what does it signal?
(05:22):
Do you think that makes it appealing to people?
Speaker 3 (05:24):
Well?
Speaker 5 (05:25):
I think that like if you think about a retirement village,
it's got specific rules sort of around the property ownership,
and I think perhaps what this developer is trying to
do is get away from those rules where you actually
do own the property and so therefore you don't have
those disadvantages in a retirement village, but you have a
(05:47):
community of maybe similar aged people. But forty five up
is still a pretty big gap.
Speaker 4 (05:54):
Yeah, I mean it's I think what they're also signaling
is that they are the sort of down I think
it's trying to appeal to downsizes. In other words, you've
I still can't get my head around it. Maybe it
is a halfway house to retirement village. It's sort of
signaling we're a bit more mature. We're advertising the market.
(06:16):
Who's who are going to hear about this are going
to be people who've maybe they want to cash up.
It's eight hundred and forty nine thousand. I think it's
the priced from so one of you in christ Church.
It's christ Church. That's not exactly cheap. There's not necessarily
a downsizing price, is it. But it seems to be
the vibe new houses. You have to be over forty five.
(06:37):
You don't want to retire, so just come. It's like
going on a big cruise ship, is it. No? No, that's
eighty five plus, isn't it? So I'm getting very naughty there.
Speaker 5 (06:45):
Well, maybe it'll appear to people in their fifties. That
might be the case. Where you're in your fifties, your
kids are now grown up, perhaps they're not home anymore,
and they maybe just put forty five on there to
pick an age.
Speaker 4 (06:58):
Yeah, we want to know from you, what do you
think about it. So this new neighborhood in christ Church,
it's got new builds for grabs, but you have to
have one person over forty five living in there to
buy it. Actually, the other thing is how would they
I guess, would you have to show proof of who
enforces covenants like this?
Speaker 5 (07:19):
Well that's actually a very good question. Covenance. It depends
if they've got like a manager of the area as such,
they enforce covenants, you know, like ones that have got
your lawns can't be too long. Someone goes around there
and checks and you get your lawns are too long?
Ago mode really yeah, yeah, yep, yep, they do. So
I don't know, but who's going to go knocking on
the door going, oh, hang on, how old are you?
Speaker 4 (07:41):
Well it's socially pretty awkward, isn't this, Like you mind,
you you're only flattering someone if you go on and say,
where's the old person here? I don't see anyone who's
over the age of forty five. It's like, well, thank
you very much. Actually exactly. So, we'd love to know
from you what you think about this, But are there
other restrictive covenants that would put you off a property?
So this one it's you've got to be one person
(08:03):
forty five or over. And I guess the thing is,
is it I'm not sure i'd want to live in
a Is this signaling that we're trying we're becoming more
sort of partitioned with the sort of neighborhoods we want
to live in, Like we I'm not sure I want
to live in these homogeneous things where everyone around the
corner is sort of a little bit like me or not.
Speaker 5 (08:21):
What do you it's it? I think that's a really
good point. I totally agree with you. I'm I'm definitely
not an in the box person, but I'd be really
interested to know what research they came up with. We
know we've got an aging population, so it does give
them more options, but I'm really interested to know what
people think.
Speaker 4 (08:41):
Yeah, give us a call eight hundred and eighty, ten eighty.
We've got a few texts. By the way, we're going
to dig into some other property issues as well. But
would you do you think that I'm trying to put
this in a concise way again, is this something that
would have value to you if you're looking to either
downsize or get into a particular community. Does the idea
(09:02):
that this is forty five years and older you've got
I'd have one person there at least forty five years old.
Is it something which is a selling point? And would
you invest in a property in a place like this
or is it simply for people who are going to
be owner occupied? I don't actually know whether there are
rules around it which are specific to whether you have
to be an owner occupier, whether you can rent it
(09:24):
or not. But would this be a selling point for you?
Eight hundred and eighty ten eighty By the way, just
for reference, the properties are priced between two and three
bedroom properties. The price between eight hundred and forty nine
thousand and one point one eight nine million in christ
Church Elmbridge Mews near Preston Park. That's actually not a
knockdown price either, is it for that market? Would you say, Nicole?
Speaker 5 (09:47):
Not really?
Speaker 2 (09:47):
No?
Speaker 6 (09:48):
Right?
Speaker 5 (09:48):
Think how big they are? I suppose right.
Speaker 7 (09:51):
Let's take some calls Rebecca, Hello, oh hello, I just
wanted to say that my mother in law have moved in.
Oh this is probably good ten years ago now into
a not a village situation, but a situation whereby you
had to be fifty five and over. Everyone bought their
own homes that they had like a body corporate, so
(10:13):
they got things organized, mowing lawns, getting the houses cleaned,
and it works amazingly well because everyone is fairly like minded.
I think forty five it's a weird number because you know,
some people don't have children till they're forty and off.
Speaker 4 (10:32):
On one side of it, I mean, you could have
a brand new child in that household.
Speaker 7 (10:36):
Exactly exactly fifty five I can understand. But forty five
it's almost like, do you not want kids in the area?
You know, it's neither one way or the other. I
find the age very unusual, very unusual. I think fifty
five would have been probably a better to target at
that because then you've got people who, definitely, if they
(11:00):
have kids, would probably be late teen ages at the
very least, probably mostly kids that have left home. Yeah.
I just think forty five is a weird number. It
doesn't it doesn't.
Speaker 4 (11:13):
I mean, right, it is interesting, isn't it. I Mean
they've obviously gone for a mid number because they've decided
forty year is too young, and fifty is too old.
But they could have gone forty two, forty three, but
forty five.
Speaker 7 (11:23):
Yeah, but what is forty five me? Does that mean
their first second home buyers? Or they won't be first
home buyers? Probably but maybe second home five but maybe
not third home buyers.
Speaker 4 (11:35):
Yeah, I don't know, would you? I mean, is there
a part of you that would think that you might
be attracted to a property like that?
Speaker 7 (11:41):
Not at forty five? No, because at forty five I
had a family, you know, a young, a young teenage
family that I wanted a big house. So luckily we're
able to forty five. Are so sort of in the
teenage years, taking kids to rugby blunt, you know, taking
kids to ballet.
Speaker 4 (12:00):
Because you don't all have to be forty five, so
only one person has to be forty five. The rest
of you could be you know, you could have a
couple of teenagers and a five year.
Speaker 7 (12:07):
Old needed to gata. I just find out a very
awkward number. It doesn't sit right. It's sort of I
don't know where they got their research from, but you
know it's so yeah, Huff, it's an interesting one.
Speaker 4 (12:21):
Thanks, Rebecca. Well, that's the thing. This is not just
somebody who's an idea, let's do this. They've actually done it,
so they must have worked out that there is a
market out there for people who.
Speaker 5 (12:30):
Want what you would think that that's exactly what I
thought you would think. They've done their research. But I
tend to agree with Rebecca. Forty five seems like an
odd age. Fifty five seems like much more market for that.
Speaker 4 (12:46):
Interesting it says. It says families are welcome in the subdivision,
but there is a twenty year long covenant in place.
And it's weird that it says it's twenty years long. So,
in other words, in twenty years time, is that all
that suddenly means that the covenant is extinct after twenty years.
So for twenty years, the covenants stipulates that at least
one of the owners is forty five years old. I
(13:09):
don't have to dig into whether you can actually rent them,
but we'll take your calls on this. Does this sort
of community appeal to you? And actually had the broader
question is do you like the idea of communities that
have certain covenants which basically flavor who's going to be
living there? Give us a call eight hundred eighty ten
eighty we've got a bunch of texts coming in, but
(13:31):
you can jump on the blow and give us a
call and your thoughts on that. We'll be back in
just a moment. My guestes Nicole Lewis. She is CEO
of the Property Lifestyle. It is twenty past four. Newstalk said, BA,
won't you need it.
Speaker 3 (13:47):
Enough? Said time to go crazy? Are you going to do? Is?
Just meet me at.
Speaker 4 (14:00):
New Stalk said B, this is one rufradio show. My
guests Nicole Lewis, she's CEO CEO of the Property Lifestyle.
You've written you've written a book to of course what's
it called again, Nicole, because I've got it sitting on
my bookshelf and I've been reading it and I cannot
remember the title of it. But it's a great bit
of advice on got lots of good advice about investing
in property.
Speaker 5 (14:17):
Yes, it's called property quadrants.
Speaker 4 (14:19):
That's the one, property quadrants. I was trying to remember
that it's quad something.
Speaker 5 (14:25):
You just think like Robert Kyosaki cash flow quadrants. This
one's property.
Speaker 4 (14:28):
Good on yah. Now we're talking. We want your cause.
By the way, there is a development in christ Church
where you have to have one of the owners over
the age of forty five. Now, I was doing a
bit of thinking and thinking and the break about this
and what the appeal would be of it. And I
think you can send your feedback through by the way
text nineteen nine two, it gives call eight hundred and eight,
ten and eighty. Would it appeal to you? But what
(14:50):
is it trying to achieve? Nicole? And I reckon that
it's not about being highly prescriptive, where you are trying
to say X, y and z, these are the sorts
of people we want here. But simply by saying one
owner has to be able to the age of forty five,
technically you get have babies and teenage and stuff. But
(15:10):
it sends a message which when it comes to an
investment where you are sticking a lot of money into
a place to live, so around a million bucks givel take.
I think it just is about setting the tone. And
so if you are a young family, it's even if
one of you, say one of you is over the
age of forty five, but you've got a couple of toddlers,
(15:31):
you're simply not going to buy in this area because
it's basically saying we want more mature people, and it's
that simple.
Speaker 5 (15:38):
Do you agree that's what you'd think. You can imagine that,
you know, forty five year old marriage a twenty five
year old, and they they've got their babies going around.
You know, maybe they're going to think, nah, let's not
go here.
Speaker 4 (15:48):
I think you were. I mean, I think you would
feel that this is not the place for you. As
soon as you hear that convant, you'll be like, oh,
this is going to be people who want peace and quiet.
My neighbors are not going to want kids around all
that sort of thing.
Speaker 5 (16:01):
Well, maybe you can't possibly get divorced. And then because
she can't have the house because she's too young.
Speaker 3 (16:06):
Oh maybe.
Speaker 4 (16:09):
Actually that So seriously, if you were if you were
a couple and one of you was and you want
you're going to leave or something, and you're going to
go somewhere else, the person who, yeah, you'd have to
sell it, wouldn't you. Yeah?
Speaker 5 (16:22):
Yeah, because to the older one, not the younger one.
I like to throw a spanner in the works.
Speaker 4 (16:26):
Let's have we got a few of the texts on this.
I'm one says Catherine says, I'm not above doing it.
I don't know what that means really, And as somebody
else said, what if the person who was over the
edge of forty five died and left a widow who
was forty four years old? Well, I mean, you're you've
(16:46):
got a problem, I guess. Another one says, beyond me,
why you would sign up for a forty five plus subdivision?
I'm sixty five plus and love to be around young people,
new babies and the rich tapestry of life. Don't understand
the reasoning just seems quite age just for no good reason.
I think that's the bigger the thing here, isn't it.
I mean, what sort of do you want to live
in a many community where everyone is sort of a
(17:07):
little bit like you? Or do we want to live
in communities where there's as this person says, the rich
tapestry of you know, different cultures, ages, families. Is this
There's something about it that I find I don't want
to be judgmental, but there's something I find that makes
me go no. But then again, that's not for me.
(17:27):
So they would say we all don't buy here.
Speaker 5 (17:28):
Well, maybe you know you're just not agist. That's good wording,
isn't it? Doesn't it?
Speaker 4 (17:33):
I like it? Possibly if I buy with my wife,
this person says, and she's five years you know, Oh okay.
Another one who's asked, if I die, does that mean
she can be forced to move out? I don't know.
We'd have to look into that, but I would imagine
you might have to. And another person says, Anne says
two words yuck, demographic cleansing. I'd love to buy a
home in that neighborhood, if only to be the anarchist.
(17:54):
What a sterile, contrived environment. Wow, an's gone. And I
think somebody thinks it's over forty five as a council
zoning issue, just like over sixties units. No, I don't
think that that wouldn't have any council's fingerprints on that,
would it.
Speaker 5 (18:10):
You wouldn't think so.
Speaker 4 (18:12):
And Pat says there's a place in matamatter. Longland's lifestyle
village has an age of fifty. I think young professionals.
You don't want kids, says another It is Yeah, anyway,
you can give us your calls on that eight hundred
and eighty ten eighty. There is something else we want
to dig into, And there are lots of texts on this.
By the way, I haven't got on to all of them.
(18:33):
But if you'd like to offer your thoughts on would
a covenanted community that stipulates that one person has to
be over the age of forty five is that something
that would attract you or not? Because you know what,
In the end, beauty is in the either beholder. If
it's your thing, then great. If it's not your thing,
then don't do it. Exactly would you do it?
Speaker 2 (18:54):
No?
Speaker 4 (18:54):
Definitely not no, because one of the other things we
wanted to dig into is learning about because we are
we seem that we're in this area right now in
property where investors still have yet to really get into
the market. There's a bit of a lull going on,
isn't that?
Speaker 5 (19:10):
It definitely is the market split at the moment seems
to be the bottom end of the market's moving quite well.
The top end of the market is yet to wake up.
Speaker 4 (19:20):
When you mean the bottom end of the market, we're
talking first home buyers, entry level stuff and how far
up that from the bottom to the expensive end are
we talking?
Speaker 5 (19:29):
Yeah, what we're noticing at the moment with properties we're
looking for seems to be sort of around the one
point five and under moving and sort of two million
plus not so much.
Speaker 4 (19:42):
Okay, So if you are looking at you invest in
other markets, don't you?
Speaker 3 (19:47):
Yes?
Speaker 4 (19:48):
Have you always invested in another markets or did you
start close to home?
Speaker 5 (19:51):
I started close to home only because I didn't know
what I was doing. And you know, because you sort
of learn these different things, and people think, well, I
better buy something close to where I live because I
know that area or I can keep an eye on it.
But actually, all we're doing is limiting our ability to
grow our portfolio quicker by that method of thinking. So
what I say to my mentoring clients is I say,
(20:12):
if we're looking for an investment property, and this is
kind of where I split them into the quadrants. If
we're an investment property territory, I say, search the deal,
not the area. So we buy properties all over the country.
If we limited it to just where we live, you
wouldn't find much.
Speaker 4 (20:31):
Because I've always thought that you sort of not that
I'm a property investor but I'm almost tiptoeing around the
fringes when I'm doing the property show, but that you
would have to get to know whether something's a deal.
You'd have to investigate a particular area and get to
know the demographics and the things that appeal or whatever
(20:52):
what the values are. And so it's difficult to do
that on a national level, isn't it. Don't you have
to sort of go into specific markets and go right,
I'm interested in Well, actually most people are investors. They
just want to get a good deal for me. Don't
you have to focus on a particular area and getting
to know how that market is looking or Now.
Speaker 5 (21:11):
So what I say to my client, now, this only
is if you're looking for an investment property, totally different,
kettle fish, if you're looking for your family home or
a high end investment property. I say, first of all,
we want something where the numbers work. We want to
be cash flow positive, so we want to pay our rates,
our insurance, and our maintenance, our property managemance fees, and
(21:31):
then we want to be cash flow positive, so we're
searching the numbers. And then what I say to them is,
once you get a property under contract, and you might
have to put in ten offers before you get something,
then under due diligence, you investigate the area. And we've
got a very robust system to do that.
Speaker 4 (21:50):
So actually I might need yet to explain that to
me a different way. Actually, Okay, So if I'm looking
for an investment property, how wide do I cast my net?
I guess that's the first thing.
Speaker 5 (22:03):
Well, what I do, as I say, you know, look
at your look at the one roof search engine in
a different way. So instead of putting in your area,
you basically put in I'm searching all of New Zealand,
and then you put in your key words that you
want something that is multi income or six plus bedrooms
(22:23):
or cash cow or something like that, because cash cow
is used a lot. It is it is, and then
it'll split up all the properties that fit that criteria
all around the country. And the interesting thing is, as
a home buyer, you're used to searching I want a
four bedroom, two bathroom house in Auckland, and you'll get
(22:45):
three thousand come up. But if you put in I
want a six bedroom multi unit all around the country,
you won't get as many as you think. You won't
get too many at all. And then you just search
through the numbers and say does this work cash flow wise?
Yes or no?
Speaker 4 (23:00):
How do you know? How do you know what numbers
you can rely on when it comes to you're looking
for Obviously, your investment tenant an't you.
Speaker 5 (23:07):
Yeah, so you just need to know a couple of numbers.
So you need to know obviously the purchase price, and
a lot of the times they don't even tell you that,
so you've got to ring the agent. And then you
need to know what the income is coming in, what
the rent is, and then you need to know what
the rates are for the area. And you've got then
you have a rough guess at what the insurance is,
and what the property management fees will be and what
(23:29):
the maintenance is and then it'll spit out a number.
Speaker 4 (23:33):
See that to me, that's if you're looking for to
buy something where the rent covers a certain amount of
the mortgage. But what about when it comes to looking
further down the track, because I would imagine a lot
of people buy investment properties ultimately for leverage for the
capital gain, So having all those numbers stack up won't
necessarily tell me that when I sell it in ten
(23:53):
years time, it's going to have gone up by for boom.
Speaker 5 (23:58):
Yeah that you know, this is an interesting debate I
have a lot of I have with a lot of
my mentoring clients, and that there are two to there
are two different types of buying. So quadrant to is
your capital gain property. You go and buy something in
an area like Queenstown or you know, like Ponsonbe that
you think is going to go up.
Speaker 4 (24:15):
I think that that must have been what I had
in mind. There wasn't.
Speaker 5 (24:18):
I but that's going to be cash negative. So you're
going to have to top that mortgage up substantially so
you can only buy that later and you're investing life
otherwise it becomes a little bit stressful and a little
bit risky because you've got to top up your own
house and you've got to top that up right yeah now.
And the other thing too is if you are thinking
I want capital gain, why so okay, so this is.
Speaker 4 (24:42):
A throne and what I was thinking we're going to
talk about how are we going to talk about it
on its head and away? Because I've assumed that most well,
I think back in the days where you could leverage
up the yin yang would people are looking for the
maximum capital growth in a short space of time, to
be honest, and when you look at those some of
the gains we've seen through the John Key era and
(25:02):
through the COVID and all that, it just went nuts.
I did, has that actually created the wrong impression on
what property investment is all about full stop for you.
Speaker 5 (25:13):
Well, I've got three points with that. One is all
property will go up in value, So you know, you
can buy a property in the cheapest part of New
Zealand and it will go up in value.
Speaker 4 (25:24):
So yeah, but if you bought bought it in Queenstown
in nineteen ninety five or something even twenty ten, I
don't know, it's just been going.
Speaker 3 (25:32):
Yeah.
Speaker 4 (25:32):
So there are markets that go bonkers where you go. Okay,
I had to subsidize the mortgage, but I made a fortune.
Speaker 5 (25:37):
Yes, But the problem is you don't know where the
area is.
Speaker 4 (25:41):
Well, can we find out whether I mean you can
have a.
Speaker 5 (25:44):
Best guess, you can you can really have a best guess,
like okay, interesting, So I did this twenty years ago.
I bought property in four different locations and according to
all the statistics under the sun, property number one, which
was on Wahike Island was going to be gangbusters. That
was just going to go through the roof. And property
number four, which was Tierto two Peninsula, that was going
(26:07):
to be embarrassing. And the other two were different areas
twenty years down the track other way around Tato two Peninsula,
went gang Goosters Wahiki Island. If you'd bought an only Tangy,
well done. It's now worth ten million dollars. But only
Tanny was the last place you'd buy twenty years ago.
(26:29):
You know you'd go only row A first, or Palm
Beach was really really popular ten twenty years ago.
Speaker 4 (26:34):
How do you know? Well, that's why I got you
in um Okay. So I one hundred and eighty, ten
and eighty, by the way, and the other question where
you have been throwing out and we've had quite a
few texts on it, as about the communities where you
have to be forty five years old, would you be
interested in them? Somebody did say to sent me a text,
(26:55):
so I do have to read it out because it
sort of called me out. Said that Tim says he's
not going to be judgmental, but spent twenty five minutes
being judgmental. Possibly I was, but it's actually just called
having opinion. Really, But you can give us a call
on one hundred and eight, ten and eighty. We'll be
back in just a moment. It's twenty three and a
half minutes to five new stalks.
Speaker 3 (27:11):
He'd be I think guy leaves him somewhere I no
longer go.
Speaker 6 (27:16):
And I want you away now from all the lovely
things we hate now when we go, when we go,
I don't know, but I know he was like somewhere
far away.
Speaker 4 (27:29):
Yes, Welcome back to the One Roof radio show on
the weekend. Collective of My guest is Nicole Lewis. She's
CEO of the Property Lifestyle, talking about a couple of things.
What is the appeal of a development where you can
only buy if one of you is over forty five
years old? And we're also having a chat with Nicole
about how you research different areas in the property market.
And I'm going to requalify that question because we but
(27:51):
we'll do some text first. One person says, I'm eighty
five living on the North Shore. With so many retirement
villages built and planned, there will soon be few under
the age of sixty five left in my neighborhood. Says Marie,
very sad. I mean that's just a comment about our
community is becoming more homogeneous, and I think that that's
(28:12):
my general objection. It's probably the reason why at the
moment I was looking ahead a few decades, I don't
think i'd want to go into retirement village because i'd
But of course the appeal of going to retirement village
probably comes because there are other things you're looking for,
isn't it.
Speaker 5 (28:28):
I mean, look, some people love it, and I think
it depends on your situation. You know, if your partner
dies and you are now left alone, well, now you've
got company in a retirement village. If one of you
is not very well, you get assistance. If you are
really you know, extravert, you've got people you can chat to.
So I suppose that has a level of appeal for
certain amounts of people.
Speaker 4 (28:48):
Somebody says, maybe forty five is considered financially stable. I
don't think that's part of it, because literally, if you
need finance, the bank sorts that side of things out.
Another person says, I think the one over forty five
because that's the age where people are starting to get
more more financially stable and more likely to be able
to pay off a mortgage. Again, you see, that's the
question of the bank answers, isn't it. Do you think, yeah, yeah,
(29:09):
exactly why do we have to put people in boxes?
If you want to live somewhere where forty five is
the demographic. Then fine, if you want to go and
visit your family, you're free to do it. You know what,
you want to come back and have a nice piece
of evening. Fair enough, I guess yep. Each to their
own yep. Another person says, I'm Cindy says, I know
someone in a retirement village type thing in a triangle
(29:30):
and triangle Road Henderson where they all own their own
homes which have a fifty year requirement, and they are
so sought after. I wonder, actually, do you wonder if
this is the new sort of sort of pseudo retirement
village where people just are seeking communities where there are
more people of a similar age and it's a social
(29:51):
thing rather than the sort of more diverse neighborhoods we
just see in everyday New Zealand.
Speaker 5 (29:57):
That's what I wonder, And I mean, the other thing
that is true when you look up the research is
we do have an aging population and this will continue
for the next twenty years, so there is a high
demand for it.
Speaker 4 (30:09):
Another one says Julia. Here, my husband and I sold
our four bedroom house with a large section and purchased
a three bedroom house townhouse right in town and developer
is going to be building twelve houses. We went number
two arms sixty four Now I was sixty four, now
seventy seven. No way, we will move as we can
walk everywhere. It's very easy care and great neighbors. A
retirement complex doesn't appeal. That's just on the nature of
(30:30):
a retirement home. Let's get back to that other thing
about researching market. So when I first framed that question,
it was about how do you pick how do you
research a particular area as if And I guess I
made the mistake of assuming that you buy because you're
looking for the area that's going to be the next
one that goes burn.
Speaker 5 (30:47):
Well you can do, you can do, but hey, look
I always think find out where you want to end up.
Like this is what I say to clients. Right you
get to retirement age, let's just say sixty five, and
that's different for everyone. What do you want? And what
most people say to me is we want a passive income,
so we've got choice of whether we can stop working
or not. And I say, do you want that passive
income to be? So let's pull a figure out of
(31:08):
thin air and say they want one hundred thousand dollars.
It's like, Okay, you can go and buy to what
I call quadrant for investment properties and make one hundred
thousand dollars out of it, and then you've got one
hundred thousand dollars coming in for the rest of your life.
It will go up naturally as rent does.
Speaker 4 (31:24):
You might need to describe what sort of property that is.
Speaker 5 (31:26):
So that's just a multi income property. I like blocks
of three units because you know, A, it's easy to
borrow with the bank. Anymore than that becomes commercial, so
that becomes difficult. B it's easy to manage the tenants,
and C it's a good diversification of income. You know,
one tenant moves out, you lose a thirty income temporarily,
not all of it, so you know, so that's sort
(31:47):
of a good little model as such. And then and
then so people think, well, hang on, I want to
capital gain property, so your property will go up in capital.
But if you went and board an expensive property and
let's say Queen's Down, because we talked about that before,
and you get to sixty five, but you've only got
fifty thousand dollars coming in from it, but it doesn't
end up in your pocket because you've got to top
(32:09):
up your mortgage, but you might have two million dollars
sitting in equity. What are you going to do with
that two million? Are you going to sell it so
then you've got the money? And then what you're going
to invest it so that you don't spend all your capital?
What do you want? And when people think about it,
most of the time it's the income thereafter.
Speaker 4 (32:27):
So do you think that the way people are investing
in New Zealand is going to sort of change towards
what you I mean you talked about You've got your
methods of talking about quadrut one, two, three, and four,
But that idea of simply finding a property where you
can pretty much it will pay for itself initially is
do you think we're going to see more people who
are buying for the for literally the rent side of things,
(32:50):
rather than whatever might happen down the line when property
goes nuts?
Speaker 5 (32:55):
If and when Yeah, look that's what we should be
doing and the only reason we don't is because we
don't know about it. Like I didn't. I bought my
first ones wrong because I had no idea. So you know,
you because if you just go and start searching, you
to think oh, I want to buy in Henderson. You
start driving around, you know ninety percent of them are
not multi income properties. So you don't even think that
(33:18):
you can go and look somewhere else and find one
that steves your purposes.
Speaker 4 (33:22):
I think one of the questions that might come up
from people who are interested in investing, who everyone's got
the fantasy of making the fortune, would there be like
what I, well, if I buy a place that's got
good rental yield but it never sort of really grows
goes much and up in value, then all I've got
is an asset where I've got to maintain it. I've
(33:43):
got sure, I've got the rent basically covering the mortgage.
But how long do they there's a pessimism about, oh,
well that I'm just going to this thing around the
neck for years and it's.
Speaker 5 (33:52):
Soly a place in New Zealand that hasn't gone up
in value.
Speaker 4 (33:55):
Well, I guess so that how long? Yes? How long
term do you would someone generally look for not one?
Speaker 5 (34:03):
You know, like I looked at a in Westport and
you'd think, okay, that's going to be cheap. Now they
wanted five hundred thousand for two one bedroom units, in Westport,
and I'm like, what that vendor bought it for one
hundred thousand five years ago. That's a good capital gain.
Now it's not millions, but it's one hundred thousand dollars.
(34:26):
A lot of people can afford that, and now five
years later that's turned into five hundred thousand. That's great
versus you go buy something in Queenstown that might be
two million or how many people have got that. So
it's getting yourself started and allowing growth.
Speaker 4 (34:42):
Is that partly because that's the way that people might
have to get involved in property because you can't expect
I don't think anyone's expecting some sort of property boom
in the next few years, aren't we? Are we?
Speaker 5 (34:57):
Oh god, that's a very very good question. Well, okay,
Initially everyone was saying yes, you know what was it
twenty five five and twenty five. Now people are going
it will still grow in twenty five's maybe.
Speaker 4 (35:10):
Well, I've spoken to a few people who've you know,
who I've met through this show who are far more
pessimistic about capital growth, which is why I'm asking if
the model you're talking about is the one. It seems
like harder work and it's less exciting. But is that
also the reason that we don't see so much action
in the market from investors because it's not as not
getting the headlines that we've seen in the past of
(35:33):
capital growth. And look, I've bought this for a couple
of years and it's gone up twenty percent and I've
made a fortune. I've bought myself into another property and
all that sort of thing. Is property investing a little
less sexy now, it's but more well.
Speaker 5 (35:45):
I think it depends where we are in the cycle.
I think that's a very good point. You know, when
the cycle's moving up and we're moving into a boom,
and the last boom was twenty twenty one, everyone sees
their value shooting up, and at the moment, of course,
twenty twenty three was the bottom the downcycle. We're at
the bottom and twenty twenty four, ever soly slowly started
(36:06):
to lift, so that optimism isn't there yet. I think
you're right. But when the property is at the bottom,
it's a great time to buy.
Speaker 4 (36:14):
And it's at the bottom right now, and we're going
to be looking back in to one, two, three years
and we're going I should have bought, and I'll probably
remember this quote right now, and I wish I had. Anyway,
We'll be back in just a moment. It's eleven minutes
to five.
Speaker 1 (36:26):
The one roof property of the week on the Weekend Collective, Yes.
Speaker 4 (36:30):
The one with propery of the week is an absolute ripper.
It's a forty nine torta road in Fenuapai Waitakati City.
It's six bedrooms, four bathrooms, four bathroom, six car garage, garage.
The house is six hundred and sixty six square meters.
It's a slightly devilition number, isn't it built in two
thousand and eight? Whether well, we mentioned the value, but
(36:52):
I'll get Nicole Lewis to describe. What do you How
would you describe the property? Nicole op? Sorry, there we go.
Speaker 5 (36:58):
So here's one for all of you guys that want
capital gain that could well be a winner. It certainly
looks pretty fantastic, stunning views, pool, big house. You'd have
to put a bit of an egg tag on your
car keys so you don't lose those trying to search
for them in there.
Speaker 4 (37:13):
Oh, I've never thought of that. Maybe that's a selling point,
you know, air tak your car keys because if you
lose it, you'll I've got a lot of house to
search to find those keys it's got. Yeah, I mean,
it's a beautifully designed house with a swimming pool and
outdoor living, and I don't know how to describe its
sumptuous deck areas, and it's it's it's not just a
(37:36):
house that's been planked down. It's been beautifully designed, isn't it.
Speaker 5 (37:39):
It's gorgeous.
Speaker 4 (37:40):
So what do you reckon if you hadn't you know
the value? Of course?
Speaker 5 (37:43):
No, well I don't really know the value.
Speaker 4 (37:45):
What has you thought it might be when you.
Speaker 5 (37:47):
Wonder that when I first looked at it, because I
sort of thought, I wonder if it will be sort
of around the nine million mark.
Speaker 4 (37:53):
Okay, I waited that around estimate of seven point four
to three, with a low of about six point nine
to nine. I don't know why they say six point
nine See.
Speaker 5 (38:02):
See sometimes as well that estimates are wrong on high
end property by several million either way wrong now usually
too little?
Speaker 4 (38:12):
Oh really? Okay, So if you're in the market for
a beautiful coastal property with a swimming pool and great
outdoor outdoor living as well, it's absolutely stunning home. And
as I say, it's always it's like taking a bit
of a holiday. And it's forty nine torta road for
Nouepai Waitakati City and the sailors by negotiations. So that's
(38:33):
that one going.
Speaker 5 (38:34):
Do you think it's a bargain at seven millions?
Speaker 4 (38:36):
They call the agents it's ten million dollars for Powerball tonight.
I think you'd need to win twenty five mil to
look at a property like that. I don't know how
much for your worth would you tie up in a property.
Speaker 5 (38:49):
That's a very good question.
Speaker 4 (38:51):
We'll talk about that next time. Maybe I've got a
text here from Rachel. He says, I'm fifty four. I
have a mortgage free home in Auckland. Do I still
have time to be an investor?
Speaker 5 (39:01):
Yes, you certainly do.
Speaker 4 (39:02):
I would have thought that that would be an obvious yes,
wouldn't it.
Speaker 5 (39:05):
Yes, Well, the banks start to be a little bit
tetchy at sixty because they like you to have your
mortgages paid off the time you're in your seventies, but
for sixty.
Speaker 4 (39:14):
But if your mortgage free and you're sixty or sixty two,
you've still got a massive amount of equity, haven't you.
Speaker 5 (39:21):
Yes? But don't forget. Banks want to see equity and income.
Speaker 4 (39:26):
Okay, so just keep working. In other words, I mean.
Speaker 5 (39:29):
No, no, rent is income, which is why I like
multi units because it's more income. So that helps out.
Speaker 4 (39:35):
Okay. Here's a couple of there's a few texts, and
this is the quick question. This person says the property
market is dead. It won't recover much over the next
fifteen years, maybe four percent in total in that time.
The reason is because most people realize that a million
dollar mortgage is insane. Houses on six hundred square meter
sections and bigger that are over sixty five years old
may do better than others. But as I look into
(39:56):
my crystal ball, newer houses won't move much. What do
you make of that?
Speaker 5 (40:01):
I can't see it. I mean, I track the it
would be great. I track the stats of the last
one hundred years, and property property just increases. Now it
has done exponential seven percent compounding per annum since two
thousand and two. Can it keep going at that rate?
Probably not? But will it stagnate?
Speaker 7 (40:20):
I doubt it.
Speaker 4 (40:21):
And one text to one text to wrap it up,
which I think is where I went wrong with the
way you framed the question. It says, you don't need
to play location, location location. You look for the house
and land that can be sold on as a future development,
said this person. But I think that's where we get
distracted because everything's location, location, location, But that's owner occupy stuff,
isn't it.
Speaker 5 (40:39):
That's exactly right, exactly.
Speaker 4 (40:40):
Hey, And if you want to check out Nicole Lewis's work,
then you can get in touch with her through the
propertylifestyle dot Com. Great to see Nicole, Look forward next time.
Great to see you too, John carn Is. Next, we're
going to talk about that social media band bill which
the government's put in, well, no national is put in.
Is it a good idea?
Speaker 1 (40:57):
Backcone For more from the Weekend Collective, listen live to
news Talks'd be weekends from three pm, or follow the
podcast on Heart Radio
You're listening to the Weekend Collective podcast from News Talks b.
Speaker 2 (00:11):
So I'm sad Wig me find leave me wig s
(00:32):
listen Wigan go so Wig by.
Speaker 3 (00:44):
Dance Yeah degree.
Speaker 4 (00:58):
Welcome back to the Weekend Collector. By the way, if
you missed the panel that we had a new guest
on the show and as no was Alan Blackman. He
was an aut science researcher and he was one of
our new panelists, went along with Irene Gardner and there
was a rollicking old house. Have you missed any of
the discussion you want to check it out, then you
can go and check out the podcast. Look for the
Weekend Collective on iHeartRadio or news Talk said bt CO
(01:19):
dot N said, no, we're going to take your calls
for this. How I don't forget eight hundred and eighty
ten eighty and he can text on nine two nine two.
And just before you introduce our guests for this hour,
the just to catch up with the news if you
haven't caught up with it. There is a neighborhood in
christ Church which has twenty four new builds up for grabs,
but there is a catch. You've got to be over
(01:40):
forty five to well to buy them, there has to
be someone who is over forty five living there. The
rules are a bit more relaxed than retirement villages. Your
your family can come come with you, but at least
one of the owners has to be over the age limit.
So the quick question on this is are there is
(02:05):
there some value in this? Is this something that would
attract you to buying a property or does it detract
or is it just look? Oh well, there's choice everywhere
if you want to go into It's a bit like
you know, some people when they hit sixty five, they
don't move into a retirement village, and some people choose
maybe they wait a bit longer, or maybe they never
go to a retirement village. This is not a retirement village,
(02:26):
although I must say you've got to be oble a
forty five. It does have a slightly mature sort of
ring to it. But there will be people who bought
it because they think, great, there's chances of me having
someone shooting basketball hoops at all hours of the night
or whatever, or letting off fireworks is probably going to
be slightly diminished. Anyway, we're going to explore it. Would
(02:47):
you live in an over forty five's community. Well, as
soon as you put it that way, it makes you
sound like you're joining some religious sect, doesn't it anyway
to discuss that is? She is CEO of the Property
Lifestyle and her name is Nicole Lewis, and Nicole, how
are you? A good afternoon?
Speaker 5 (03:02):
Good afternoon, Thank you for having me.
Speaker 4 (03:03):
So why did you This is an interesting idea because
I've noticed that I've got to keep away from the
retirement village thing, but I've noticed that there are certain developments.
I think there's quite a posh one there where I live,
where the age is not sixty five. They seem to
be getting younger. But now this one is it's not
a retirement village, but you've got to have one person
(03:25):
there living who's over the age of forty five. I'm
not sure it really excites me. But do you think
there's a market for this sort of thing?
Speaker 5 (03:36):
I don't know. It's interesting. I was actually chatting about
this very thing on the way here with my daughter,
and I suppose the developer has done their research. To
be fair, it's not like I've pulled out and done
any of that research. We do have an aging population,
so it's an interesting debate forty five. Oh, I must
be getting old, because that still seems pretty young. I
(03:56):
mean most people at forty five, if you've got a family,
the kids are still at home. They don't really leave
till you maybe in your fifties.
Speaker 4 (04:03):
It's a funny one, isn't it. How I mean, could
you buy one and rented up someone who's over forty
five and not short? The covenants say? And how restrict
How restrictive can you get with covenants over property? Can
you be quite prescriptive?
Speaker 5 (04:16):
You can. You can pretty much put whatever you like
on your covenants, exactly what.
Speaker 4 (04:19):
That somebody has to wear. You can only live here
if you wear a yellow T shirt on Thursdays or something.
Speaker 5 (04:23):
Yeah, pretty much. Yeah, we looked, we looked at what
we've just done, gone through one with covenants, and it's like, oh,
you can keep so many chickens, but no roosters, and
you can have one r V but not two and
every year what you can keep.
Speaker 4 (04:37):
So many chickens but ah chickens. Well we know what
to read. Example. Yeah, I'm still wanting to see if
that rooster that lives up around where I live and
cliff Freight. It's not far not far. It's far enough
away that I never hear it. But I've member going
for a walk and hearing this grim thinking and seeing
the thing and thinking, I can't believe no one's shot
that thing yet. So we want to know for you,
(04:59):
what do you reckon I eight one hundred eighty and
eighty a development where one of you living in the
property has to be forty five years or older. Somebody's
texted already saying, goodness, me, forty five is still quite young.
My children of forty three and forty five, and they're
very young children. In fact, to be honest, there'd be
plenty of people who wouldn't have even bought their first
time by forty five exactly. Yeah, what does it signal?
(05:22):
Do you think that makes it appealing to people?
Speaker 3 (05:24):
Well?
Speaker 5 (05:25):
I think that like if you think about a retirement village,
it's got specific rules sort of around the property ownership,
and I think perhaps what this developer is trying to
do is get away from those rules where you actually
do own the property and so therefore you don't have
those disadvantages in a retirement village, but you have a
(05:47):
community of maybe similar aged people. But forty five up
is still a pretty big gap.
Speaker 4 (05:54):
Yeah, I mean it's I think what they're also signaling
is that they are the sort of down I think
it's trying to appeal to downsizes. In other words, you've
I still can't get my head around it. Maybe it
is a halfway house to retirement village. It's sort of
signaling we're a bit more mature. We're advertising the market.
(06:16):
Who's who are going to hear about this are going
to be people who've maybe they want to cash up.
It's eight hundred and forty nine thousand. I think it's
the priced from so one of you in christ Church.
It's christ Church. That's not exactly cheap. There's not necessarily
a downsizing price, is it. But it seems to be
the vibe new houses. You have to be over forty five.
(06:37):
You don't want to retire, so just come. It's like
going on a big cruise ship, is it. No? No, that's
eighty five plus, isn't it? So I'm getting very naughty there.
Speaker 5 (06:45):
Well, maybe it'll appear to people in their fifties. That
might be the case. Where you're in your fifties, your
kids are now grown up, perhaps they're not home anymore,
and they maybe just put forty five on there to
pick an age.
Speaker 4 (06:58):
Yeah, we want to know from you, what do you
think about it. So this new neighborhood in christ Church,
it's got new builds for grabs, but you have to
have one person over forty five living in there to
buy it. Actually, the other thing is how would they
I guess, would you have to show proof of who
enforces covenants like this?
Speaker 5 (07:19):
Well that's actually a very good question. Covenance. It depends
if they've got like a manager of the area as such,
they enforce covenants, you know, like ones that have got
your lawns can't be too long. Someone goes around there
and checks and you get your lawns are too long?
Ago mode really yeah, yeah, yep, yep, they do. So
I don't know, but who's going to go knocking on
the door going, oh, hang on, how old are you?
Speaker 4 (07:41):
Well it's socially pretty awkward, isn't this, Like you mind,
you you're only flattering someone if you go on and say,
where's the old person here? I don't see anyone who's
over the age of forty five. It's like, well, thank
you very much. Actually exactly. So, we'd love to know
from you what you think about this, But are there
other restrictive covenants that would put you off a property?
So this one it's you've got to be one person
(08:03):
forty five or over. And I guess the thing is,
is it I'm not sure i'd want to live in
a Is this signaling that we're trying we're becoming more
sort of partitioned with the sort of neighborhoods we want
to live in, Like we I'm not sure I want
to live in these homogeneous things where everyone around the
corner is sort of a little bit like me or not.
Speaker 5 (08:21):
What do you it's it? I think that's a really
good point. I totally agree with you. I'm I'm definitely
not an in the box person, but I'd be really
interested to know what research they came up with. We
know we've got an aging population, so it does give
them more options, but I'm really interested to know what
people think.
Speaker 4 (08:41):
Yeah, give us a call eight hundred and eighty, ten eighty.
We've got a few texts. By the way, we're going
to dig into some other property issues as well. But
would you do you think that I'm trying to put
this in a concise way again, is this something that
would have value to you if you're looking to either
downsize or get into a particular community. Does the idea
(09:02):
that this is forty five years and older you've got
I'd have one person there at least forty five years old.
Is it something which is a selling point? And would
you invest in a property in a place like this
or is it simply for people who are going to
be owner occupied? I don't actually know whether there are
rules around it which are specific to whether you have
to be an owner occupier, whether you can rent it
(09:24):
or not. But would this be a selling point for you?
Eight hundred and eighty ten eighty By the way, just
for reference, the properties are priced between two and three
bedroom properties. The price between eight hundred and forty nine
thousand and one point one eight nine million in christ
Church Elmbridge Mews near Preston Park. That's actually not a
knockdown price either, is it for that market? Would you say, Nicole?
Speaker 5 (09:47):
Not really?
Speaker 2 (09:47):
No?
Speaker 6 (09:48):
Right?
Speaker 5 (09:48):
Think how big they are? I suppose right.
Speaker 7 (09:51):
Let's take some calls Rebecca, Hello, oh hello, I just
wanted to say that my mother in law have moved in.
Oh this is probably good ten years ago now into
a not a village situation, but a situation whereby you
had to be fifty five and over. Everyone bought their
own homes that they had like a body corporate, so
(10:13):
they got things organized, mowing lawns, getting the houses cleaned,
and it works amazingly well because everyone is fairly like minded.
I think forty five it's a weird number because you know,
some people don't have children till they're forty and off.
Speaker 4 (10:32):
On one side of it, I mean, you could have
a brand new child in that household.
Speaker 7 (10:36):
Exactly exactly fifty five I can understand. But forty five
it's almost like, do you not want kids in the area?
You know, it's neither one way or the other. I
find the age very unusual, very unusual. I think fifty
five would have been probably a better to target at
that because then you've got people who, definitely, if they
(11:00):
have kids, would probably be late teen ages at the
very least, probably mostly kids that have left home. Yeah.
I just think forty five is a weird number. It
doesn't it doesn't.
Speaker 4 (11:13):
I mean, right, it is interesting, isn't it. I Mean
they've obviously gone for a mid number because they've decided
forty year is too young, and fifty is too old.
But they could have gone forty two, forty three, but
forty five.
Speaker 7 (11:23):
Yeah, but what is forty five me? Does that mean
their first second home buyers? Or they won't be first
home buyers? Probably but maybe second home five but maybe
not third home buyers.
Speaker 4 (11:35):
Yeah, I don't know, would you? I mean, is there
a part of you that would think that you might
be attracted to a property like that?
Speaker 7 (11:41):
Not at forty five? No, because at forty five I
had a family, you know, a young, a young teenage
family that I wanted a big house. So luckily we're
able to forty five. Are so sort of in the
teenage years, taking kids to rugby blunt, you know, taking
kids to ballet.
Speaker 4 (12:00):
Because you don't all have to be forty five, so
only one person has to be forty five. The rest
of you could be you know, you could have a
couple of teenagers and a five year.
Speaker 7 (12:07):
Old needed to gata. I just find out a very
awkward number. It doesn't sit right. It's sort of I
don't know where they got their research from, but you
know it's so yeah, Huff, it's an interesting one.
Speaker 4 (12:21):
Thanks, Rebecca. Well, that's the thing. This is not just
somebody who's an idea, let's do this. They've actually done it,
so they must have worked out that there is a
market out there for people who.
Speaker 5 (12:30):
Want what you would think that that's exactly what I
thought you would think. They've done their research. But I
tend to agree with Rebecca. Forty five seems like an
odd age. Fifty five seems like much more market for that.
Speaker 4 (12:46):
Interesting it says. It says families are welcome in the subdivision,
but there is a twenty year long covenant in place.
And it's weird that it says it's twenty years long. So,
in other words, in twenty years time, is that all
that suddenly means that the covenant is extinct after twenty years.
So for twenty years, the covenants stipulates that at least
one of the owners is forty five years old. I
(13:09):
don't have to dig into whether you can actually rent them,
but we'll take your calls on this. Does this sort
of community appeal to you? And actually had the broader
question is do you like the idea of communities that
have certain covenants which basically flavor who's going to be
living there? Give us a call eight hundred eighty ten
eighty we've got a bunch of texts coming in, but
(13:31):
you can jump on the blow and give us a
call and your thoughts on that. We'll be back in
just a moment. My guestes Nicole Lewis. She is CEO
of the Property Lifestyle. It is twenty past four. Newstalk said, BA,
won't you need it.
Speaker 3 (13:47):
Enough? Said time to go crazy? Are you going to do? Is?
Just meet me at.
Speaker 4 (14:00):
New Stalk said B, this is one rufradio show. My
guests Nicole Lewis, she's CEO CEO of the Property Lifestyle.
You've written you've written a book to of course what's
it called again, Nicole, because I've got it sitting on
my bookshelf and I've been reading it and I cannot
remember the title of it. But it's a great bit
of advice on got lots of good advice about investing
in property.
Speaker 5 (14:17):
Yes, it's called property quadrants.
Speaker 4 (14:19):
That's the one, property quadrants. I was trying to remember
that it's quad something.
Speaker 5 (14:25):
You just think like Robert Kyosaki cash flow quadrants. This
one's property.
Speaker 4 (14:28):
Good on yah. Now we're talking. We want your cause.
By the way, there is a development in christ Church
where you have to have one of the owners over
the age of forty five. Now, I was doing a
bit of thinking and thinking and the break about this
and what the appeal would be of it. And I
think you can send your feedback through by the way
text nineteen nine two, it gives call eight hundred and eight,
ten and eighty. Would it appeal to you? But what
(14:50):
is it trying to achieve? Nicole? And I reckon that
it's not about being highly prescriptive, where you are trying
to say X, y and z, these are the sorts
of people we want here. But simply by saying one
owner has to be able to the age of forty five,
technically you get have babies and teenage and stuff. But
(15:10):
it sends a message which when it comes to an
investment where you are sticking a lot of money into
a place to live, so around a million bucks givel take.
I think it just is about setting the tone. And
so if you are a young family, it's even if
one of you, say one of you is over the
age of forty five, but you've got a couple of toddlers,
(15:31):
you're simply not going to buy in this area because
it's basically saying we want more mature people, and it's
that simple.
Speaker 5 (15:38):
Do you agree that's what you'd think. You can imagine that,
you know, forty five year old marriage a twenty five
year old, and they they've got their babies going around.
You know, maybe they're going to think, nah, let's not
go here.
Speaker 4 (15:48):
I think you were. I mean, I think you would
feel that this is not the place for you. As
soon as you hear that convant, you'll be like, oh,
this is going to be people who want peace and quiet.
My neighbors are not going to want kids around all
that sort of thing.
Speaker 5 (16:01):
Well, maybe you can't possibly get divorced. And then because
she can't have the house because she's too young.
Speaker 3 (16:06):
Oh maybe.
Speaker 4 (16:09):
Actually that So seriously, if you were if you were
a couple and one of you was and you want
you're going to leave or something, and you're going to
go somewhere else, the person who, yeah, you'd have to
sell it, wouldn't you. Yeah?
Speaker 5 (16:22):
Yeah, because to the older one, not the younger one.
I like to throw a spanner in the works.
Speaker 4 (16:26):
Let's have we got a few of the texts on this.
I'm one says Catherine says, I'm not above doing it.
I don't know what that means really, And as somebody
else said, what if the person who was over the
edge of forty five died and left a widow who
was forty four years old? Well, I mean, you're you've
(16:46):
got a problem, I guess. Another one says, beyond me,
why you would sign up for a forty five plus subdivision?
I'm sixty five plus and love to be around young people,
new babies and the rich tapestry of life. Don't understand
the reasoning just seems quite age just for no good reason.
I think that's the bigger the thing here, isn't it.
I mean, what sort of do you want to live
in a many community where everyone is sort of a
(17:07):
little bit like you? Or do we want to live
in communities where there's as this person says, the rich
tapestry of you know, different cultures, ages, families. Is this
There's something about it that I find I don't want
to be judgmental, but there's something I find that makes
me go no. But then again, that's not for me.
(17:27):
So they would say we all don't buy here.
Speaker 5 (17:28):
Well, maybe you know you're just not agist. That's good wording,
isn't it? Doesn't it?
Speaker 4 (17:33):
I like it? Possibly if I buy with my wife,
this person says, and she's five years you know, Oh okay.
Another one who's asked, if I die, does that mean
she can be forced to move out? I don't know.
We'd have to look into that, but I would imagine
you might have to. And another person says, Anne says
two words yuck, demographic cleansing. I'd love to buy a
home in that neighborhood, if only to be the anarchist.
(17:54):
What a sterile, contrived environment. Wow, an's gone. And I
think somebody thinks it's over forty five as a council
zoning issue, just like over sixties units. No, I don't
think that that wouldn't have any council's fingerprints on that,
would it.
Speaker 5 (18:10):
You wouldn't think so.
Speaker 4 (18:12):
And Pat says there's a place in matamatter. Longland's lifestyle
village has an age of fifty. I think young professionals.
You don't want kids, says another It is Yeah, anyway,
you can give us your calls on that eight hundred
and eighty ten eighty. There is something else we want
to dig into, And there are lots of texts on this.
By the way, I haven't got on to all of them.
(18:33):
But if you'd like to offer your thoughts on would
a covenanted community that stipulates that one person has to
be over the age of forty five is that something
that would attract you or not? Because you know what,
In the end, beauty is in the either beholder. If
it's your thing, then great. If it's not your thing,
then don't do it. Exactly would you do it?
Speaker 2 (18:54):
No?
Speaker 4 (18:54):
Definitely not no, because one of the other things we
wanted to dig into is learning about because we are
we seem that we're in this area right now in
property where investors still have yet to really get into
the market. There's a bit of a lull going on,
isn't that?
Speaker 5 (19:10):
It definitely is the market split at the moment seems
to be the bottom end of the market's moving quite well.
The top end of the market is yet to wake up.
Speaker 4 (19:20):
When you mean the bottom end of the market, we're
talking first home buyers, entry level stuff and how far
up that from the bottom to the expensive end are
we talking?
Speaker 5 (19:29):
Yeah, what we're noticing at the moment with properties we're
looking for seems to be sort of around the one
point five and under moving and sort of two million
plus not so much.
Speaker 4 (19:42):
Okay, So if you are looking at you invest in
other markets, don't you?
Speaker 3 (19:47):
Yes?
Speaker 4 (19:48):
Have you always invested in another markets or did you
start close to home?
Speaker 5 (19:51):
I started close to home only because I didn't know
what I was doing. And you know, because you sort
of learn these different things, and people think, well, I
better buy something close to where I live because I
know that area or I can keep an eye on it.
But actually, all we're doing is limiting our ability to
grow our portfolio quicker by that method of thinking. So
what I say to my mentoring clients is I say,
(20:12):
if we're looking for an investment property, and this is
kind of where I split them into the quadrants. If
we're an investment property territory, I say, search the deal,
not the area. So we buy properties all over the country.
If we limited it to just where we live, you
wouldn't find much.
Speaker 4 (20:31):
Because I've always thought that you sort of not that
I'm a property investor but I'm almost tiptoeing around the
fringes when I'm doing the property show, but that you
would have to get to know whether something's a deal.
You'd have to investigate a particular area and get to
know the demographics and the things that appeal or whatever
(20:52):
what the values are. And so it's difficult to do
that on a national level, isn't it. Don't you have
to sort of go into specific markets and go right,
I'm interested in Well, actually most people are investors. They
just want to get a good deal for me. Don't
you have to focus on a particular area and getting
to know how that market is looking or Now.
Speaker 5 (21:11):
So what I say to my client, now, this only
is if you're looking for an investment property, totally different,
kettle fish, if you're looking for your family home or
a high end investment property. I say, first of all,
we want something where the numbers work. We want to
be cash flow positive, so we want to pay our rates,
our insurance, and our maintenance, our property managemance fees, and
(21:31):
then we want to be cash flow positive, so we're
searching the numbers. And then what I say to them is,
once you get a property under contract, and you might
have to put in ten offers before you get something,
then under due diligence, you investigate the area. And we've
got a very robust system to do that.
Speaker 4 (21:50):
So actually I might need yet to explain that to
me a different way. Actually, Okay, So if I'm looking
for an investment property, how wide do I cast my net?
I guess that's the first thing.
Speaker 5 (22:03):
Well, what I do, as I say, you know, look
at your look at the one roof search engine in
a different way. So instead of putting in your area,
you basically put in I'm searching all of New Zealand,
and then you put in your key words that you
want something that is multi income or six plus bedrooms
(22:23):
or cash cow or something like that, because cash cow
is used a lot. It is it is, and then
it'll split up all the properties that fit that criteria
all around the country. And the interesting thing is, as
a home buyer, you're used to searching I want a
four bedroom, two bathroom house in Auckland, and you'll get
(22:45):
three thousand come up. But if you put in I
want a six bedroom multi unit all around the country,
you won't get as many as you think. You won't
get too many at all. And then you just search
through the numbers and say does this work cash flow wise?
Yes or no?
Speaker 4 (23:00):
How do you know? How do you know what numbers
you can rely on when it comes to you're looking
for Obviously, your investment tenant an't you.
Speaker 5 (23:07):
Yeah, so you just need to know a couple of numbers.
So you need to know obviously the purchase price, and
a lot of the times they don't even tell you that,
so you've got to ring the agent. And then you
need to know what the income is coming in, what
the rent is, and then you need to know what
the rates are for the area. And you've got then
you have a rough guess at what the insurance is,
and what the property management fees will be and what
(23:29):
the maintenance is and then it'll spit out a number.
Speaker 4 (23:33):
See that to me, that's if you're looking for to
buy something where the rent covers a certain amount of
the mortgage. But what about when it comes to looking
further down the track, because I would imagine a lot
of people buy investment properties ultimately for leverage for the
capital gain, So having all those numbers stack up won't
necessarily tell me that when I sell it in ten
(23:53):
years time, it's going to have gone up by for boom.
Speaker 5 (23:58):
Yeah that you know, this is an interesting debate I
have a lot of I have with a lot of
my mentoring clients, and that there are two to there
are two different types of buying. So quadrant to is
your capital gain property. You go and buy something in
an area like Queenstown or you know, like Ponsonbe that
you think is going to go up.
Speaker 4 (24:15):
I think that that must have been what I had
in mind. There wasn't.
Speaker 5 (24:18):
I but that's going to be cash negative. So you're
going to have to top that mortgage up substantially so
you can only buy that later and you're investing life
otherwise it becomes a little bit stressful and a little
bit risky because you've got to top up your own
house and you've got to top that up right yeah now.
And the other thing too is if you are thinking
I want capital gain, why so okay, so this is.
Speaker 4 (24:42):
A throne and what I was thinking we're going to
talk about how are we going to talk about it
on its head and away? Because I've assumed that most well,
I think back in the days where you could leverage
up the yin yang would people are looking for the
maximum capital growth in a short space of time, to
be honest, and when you look at those some of
the gains we've seen through the John Key era and
(25:02):
through the COVID and all that, it just went nuts.
I did, has that actually created the wrong impression on
what property investment is all about full stop for you.
Speaker 5 (25:13):
Well, I've got three points with that. One is all
property will go up in value, So you know, you
can buy a property in the cheapest part of New
Zealand and it will go up in value.
Speaker 4 (25:24):
So yeah, but if you bought bought it in Queenstown
in nineteen ninety five or something even twenty ten, I
don't know, it's just been going.
Speaker 3 (25:32):
Yeah.
Speaker 4 (25:32):
So there are markets that go bonkers where you go. Okay,
I had to subsidize the mortgage, but I made a fortune.
Speaker 5 (25:37):
Yes, But the problem is you don't know where the
area is.
Speaker 4 (25:41):
Well, can we find out whether I mean you can
have a.
Speaker 5 (25:44):
Best guess, you can you can really have a best guess,
like okay, interesting, So I did this twenty years ago.
I bought property in four different locations and according to
all the statistics under the sun, property number one, which
was on Wahike Island was going to be gangbusters. That
was just going to go through the roof. And property
number four, which was Tierto two Peninsula, that was going
(26:07):
to be embarrassing. And the other two were different areas
twenty years down the track other way around Tato two Peninsula,
went gang Goosters Wahiki Island. If you'd bought an only Tangy,
well done. It's now worth ten million dollars. But only
Tanny was the last place you'd buy twenty years ago.
(26:29):
You know you'd go only row A first, or Palm
Beach was really really popular ten twenty years ago.
Speaker 4 (26:34):
How do you know? Well, that's why I got you
in um Okay. So I one hundred and eighty, ten
and eighty, by the way, and the other question where
you have been throwing out and we've had quite a
few texts on it, as about the communities where you
have to be forty five years old, would you be
interested in them? Somebody did say to sent me a text,
(26:55):
so I do have to read it out because it
sort of called me out. Said that Tim says he's
not going to be judgmental, but spent twenty five minutes
being judgmental. Possibly I was, but it's actually just called
having opinion. Really, But you can give us a call
on one hundred and eight, ten and eighty. We'll be
back in just a moment. It's twenty three and a
half minutes to five new stalks.
Speaker 3 (27:11):
He'd be I think guy leaves him somewhere I no
longer go.
Speaker 6 (27:16):
And I want you away now from all the lovely
things we hate now when we go, when we go,
I don't know, but I know he was like somewhere
far away.
Speaker 4 (27:29):
Yes, Welcome back to the One Roof radio show on
the weekend. Collective of My guest is Nicole Lewis. She's
CEO of the Property Lifestyle, talking about a couple of things.
What is the appeal of a development where you can
only buy if one of you is over forty five
years old? And we're also having a chat with Nicole
about how you research different areas in the property market.
And I'm going to requalify that question because we but
(27:51):
we'll do some text first. One person says, I'm eighty
five living on the North Shore. With so many retirement
villages built and planned, there will soon be few under
the age of sixty five left in my neighborhood. Says Marie,
very sad. I mean that's just a comment about our
community is becoming more homogeneous, and I think that that's
(28:12):
my general objection. It's probably the reason why at the
moment I was looking ahead a few decades, I don't
think i'd want to go into retirement village because i'd
But of course the appeal of going to retirement village
probably comes because there are other things you're looking for,
isn't it.
Speaker 5 (28:28):
I mean, look, some people love it, and I think
it depends on your situation. You know, if your partner
dies and you are now left alone, well, now you've
got company in a retirement village. If one of you
is not very well, you get assistance. If you are
really you know, extravert, you've got people you can chat to.
So I suppose that has a level of appeal for
certain amounts of people.
Speaker 4 (28:48):
Somebody says, maybe forty five is considered financially stable. I
don't think that's part of it, because literally, if you
need finance, the bank sorts that side of things out.
Another person says, I think the one over forty five
because that's the age where people are starting to get
more more financially stable and more likely to be able
to pay off a mortgage. Again, you see, that's the
question of the bank answers, isn't it. Do you think, yeah, yeah,
(29:09):
exactly why do we have to put people in boxes?
If you want to live somewhere where forty five is
the demographic. Then fine, if you want to go and
visit your family, you're free to do it. You know what,
you want to come back and have a nice piece
of evening. Fair enough, I guess yep. Each to their
own yep. Another person says, I'm Cindy says, I know
someone in a retirement village type thing in a triangle
(29:30):
and triangle Road Henderson where they all own their own
homes which have a fifty year requirement, and they are
so sought after. I wonder, actually, do you wonder if
this is the new sort of sort of pseudo retirement
village where people just are seeking communities where there are
more people of a similar age and it's a social
(29:51):
thing rather than the sort of more diverse neighborhoods we
just see in everyday New Zealand.
Speaker 5 (29:57):
That's what I wonder, And I mean, the other thing
that is true when you look up the research is
we do have an aging population and this will continue
for the next twenty years, so there is a high
demand for it.
Speaker 4 (30:09):
Another one says Julia. Here, my husband and I sold
our four bedroom house with a large section and purchased
a three bedroom house townhouse right in town and developer
is going to be building twelve houses. We went number
two arms sixty four Now I was sixty four, now
seventy seven. No way, we will move as we can
walk everywhere. It's very easy care and great neighbors. A
retirement complex doesn't appeal. That's just on the nature of
(30:30):
a retirement home. Let's get back to that other thing
about researching market. So when I first framed that question,
it was about how do you pick how do you
research a particular area as if And I guess I
made the mistake of assuming that you buy because you're
looking for the area that's going to be the next
one that goes burn.
Speaker 5 (30:47):
Well you can do, you can do, but hey, look
I always think find out where you want to end up.
Like this is what I say to clients. Right you
get to retirement age, let's just say sixty five, and
that's different for everyone. What do you want? And what
most people say to me is we want a passive income,
so we've got choice of whether we can stop working
or not. And I say, do you want that passive
income to be? So let's pull a figure out of
(31:08):
thin air and say they want one hundred thousand dollars.
It's like, Okay, you can go and buy to what
I call quadrant for investment properties and make one hundred
thousand dollars out of it, and then you've got one
hundred thousand dollars coming in for the rest of your life.
It will go up naturally as rent does.
Speaker 4 (31:24):
You might need to describe what sort of property that is.
Speaker 5 (31:26):
So that's just a multi income property. I like blocks
of three units because you know, A, it's easy to
borrow with the bank. Anymore than that becomes commercial, so
that becomes difficult. B it's easy to manage the tenants,
and C it's a good diversification of income. You know,
one tenant moves out, you lose a thirty income temporarily,
not all of it, so you know, so that's sort
(31:47):
of a good little model as such. And then and
then so people think, well, hang on, I want to
capital gain property, so your property will go up in capital.
But if you went and board an expensive property and
let's say Queen's Down, because we talked about that before,
and you get to sixty five, but you've only got
fifty thousand dollars coming in from it, but it doesn't
end up in your pocket because you've got to top
(32:09):
up your mortgage, but you might have two million dollars
sitting in equity. What are you going to do with
that two million? Are you going to sell it so
then you've got the money? And then what you're going
to invest it so that you don't spend all your capital?
What do you want? And when people think about it,
most of the time it's the income thereafter.
Speaker 4 (32:27):
So do you think that the way people are investing
in New Zealand is going to sort of change towards
what you I mean you talked about You've got your
methods of talking about quadrut one, two, three, and four,
But that idea of simply finding a property where you
can pretty much it will pay for itself initially is
do you think we're going to see more people who
are buying for the for literally the rent side of things,
(32:50):
rather than whatever might happen down the line when property
goes nuts?
Speaker 5 (32:55):
If and when Yeah, look that's what we should be
doing and the only reason we don't is because we
don't know about it. Like I didn't. I bought my
first ones wrong because I had no idea. So you know,
you because if you just go and start searching, you
to think oh, I want to buy in Henderson. You
start driving around, you know ninety percent of them are
not multi income properties. So you don't even think that
(33:18):
you can go and look somewhere else and find one
that steves your purposes.
Speaker 4 (33:22):
I think one of the questions that might come up
from people who are interested in investing, who everyone's got
the fantasy of making the fortune, would there be like
what I, well, if I buy a place that's got
good rental yield but it never sort of really grows
goes much and up in value, then all I've got
is an asset where I've got to maintain it. I've
(33:43):
got sure, I've got the rent basically covering the mortgage.
But how long do they there's a pessimism about, oh,
well that I'm just going to this thing around the
neck for years and it's.
Speaker 5 (33:52):
Soly a place in New Zealand that hasn't gone up
in value.
Speaker 4 (33:55):
Well, I guess so that how long? Yes? How long
term do you would someone generally look for not one?
Speaker 5 (34:03):
You know, like I looked at a in Westport and
you'd think, okay, that's going to be cheap. Now they
wanted five hundred thousand for two one bedroom units, in Westport,
and I'm like, what that vendor bought it for one
hundred thousand five years ago. That's a good capital gain.
Now it's not millions, but it's one hundred thousand dollars.
(34:26):
A lot of people can afford that, and now five
years later that's turned into five hundred thousand. That's great
versus you go buy something in Queenstown that might be
two million or how many people have got that. So
it's getting yourself started and allowing growth.
Speaker 4 (34:42):
Is that partly because that's the way that people might
have to get involved in property because you can't expect
I don't think anyone's expecting some sort of property boom
in the next few years, aren't we? Are we?
Speaker 5 (34:57):
Oh god, that's a very very good question. Well, okay,
Initially everyone was saying yes, you know what was it
twenty five five and twenty five. Now people are going
it will still grow in twenty five's maybe.
Speaker 4 (35:10):
Well, I've spoken to a few people who've you know,
who I've met through this show who are far more
pessimistic about capital growth, which is why I'm asking if
the model you're talking about is the one. It seems
like harder work and it's less exciting. But is that
also the reason that we don't see so much action
in the market from investors because it's not as not
getting the headlines that we've seen in the past of
(35:33):
capital growth. And look, I've bought this for a couple
of years and it's gone up twenty percent and I've
made a fortune. I've bought myself into another property and
all that sort of thing. Is property investing a little
less sexy now, it's but more well.
Speaker 5 (35:45):
I think it depends where we are in the cycle.
I think that's a very good point. You know, when
the cycle's moving up and we're moving into a boom,
and the last boom was twenty twenty one, everyone sees
their value shooting up, and at the moment, of course,
twenty twenty three was the bottom the downcycle. We're at
the bottom and twenty twenty four, ever soly slowly started
(36:06):
to lift, so that optimism isn't there yet. I think
you're right. But when the property is at the bottom,
it's a great time to buy.
Speaker 4 (36:14):
And it's at the bottom right now, and we're going
to be looking back in to one, two, three years
and we're going I should have bought, and I'll probably
remember this quote right now, and I wish I had. Anyway,
We'll be back in just a moment. It's eleven minutes
to five.
Speaker 1 (36:26):
The one roof property of the week on the Weekend Collective, Yes.
Speaker 4 (36:30):
The one with propery of the week is an absolute ripper.
It's a forty nine torta road in Fenuapai Waitakati City.
It's six bedrooms, four bathrooms, four bathroom, six car garage, garage.
The house is six hundred and sixty six square meters.
It's a slightly devilition number, isn't it built in two
thousand and eight? Whether well, we mentioned the value, but
(36:52):
I'll get Nicole Lewis to describe. What do you How
would you describe the property? Nicole op? Sorry, there we go.
Speaker 5 (36:58):
So here's one for all of you guys that want
capital gain that could well be a winner. It certainly
looks pretty fantastic, stunning views, pool, big house. You'd have
to put a bit of an egg tag on your
car keys so you don't lose those trying to search
for them in there.
Speaker 4 (37:13):
Oh, I've never thought of that. Maybe that's a selling point,
you know, air tak your car keys because if you
lose it, you'll I've got a lot of house to
search to find those keys it's got. Yeah, I mean,
it's a beautifully designed house with a swimming pool and
outdoor living, and I don't know how to describe its
sumptuous deck areas, and it's it's it's not just a
(37:36):
house that's been planked down. It's been beautifully designed, isn't it.
Speaker 5 (37:39):
It's gorgeous.
Speaker 4 (37:40):
So what do you reckon if you hadn't you know
the value? Of course?
Speaker 5 (37:43):
No, well I don't really know the value.
Speaker 4 (37:45):
What has you thought it might be when you.
Speaker 5 (37:47):
Wonder that when I first looked at it, because I
sort of thought, I wonder if it will be sort
of around the nine million mark.
Speaker 4 (37:53):
Okay, I waited that around estimate of seven point four
to three, with a low of about six point nine
to nine. I don't know why they say six point
nine See.
Speaker 5 (38:02):
See sometimes as well that estimates are wrong on high
end property by several million either way wrong now usually
too little?
Speaker 4 (38:12):
Oh really? Okay, So if you're in the market for
a beautiful coastal property with a swimming pool and great
outdoor outdoor living as well, it's absolutely stunning home. And
as I say, it's always it's like taking a bit
of a holiday. And it's forty nine torta road for
Nouepai Waitakati City and the sailors by negotiations. So that's
(38:33):
that one going.
Speaker 5 (38:34):
Do you think it's a bargain at seven millions?
Speaker 4 (38:36):
They call the agents it's ten million dollars for Powerball tonight.
I think you'd need to win twenty five mil to
look at a property like that. I don't know how
much for your worth would you tie up in a property.
Speaker 5 (38:49):
That's a very good question.
Speaker 4 (38:51):
We'll talk about that next time. Maybe I've got a
text here from Rachel. He says, I'm fifty four. I
have a mortgage free home in Auckland. Do I still
have time to be an investor?
Speaker 5 (39:01):
Yes, you certainly do.
Speaker 4 (39:02):
I would have thought that that would be an obvious yes,
wouldn't it.
Speaker 5 (39:05):
Yes, Well, the banks start to be a little bit
tetchy at sixty because they like you to have your
mortgages paid off the time you're in your seventies, but
for sixty.
Speaker 4 (39:14):
But if your mortgage free and you're sixty or sixty two,
you've still got a massive amount of equity, haven't you.
Speaker 5 (39:21):
Yes? But don't forget. Banks want to see equity and income.
Speaker 4 (39:26):
Okay, so just keep working. In other words, I mean.
Speaker 5 (39:29):
No, no, rent is income, which is why I like
multi units because it's more income. So that helps out.
Speaker 4 (39:35):
Okay. Here's a couple of there's a few texts, and
this is the quick question. This person says the property
market is dead. It won't recover much over the next
fifteen years, maybe four percent in total in that time.
The reason is because most people realize that a million
dollar mortgage is insane. Houses on six hundred square meter
sections and bigger that are over sixty five years old
may do better than others. But as I look into
(39:56):
my crystal ball, newer houses won't move much. What do
you make of that?
Speaker 5 (40:01):
I can't see it. I mean, I track the it
would be great. I track the stats of the last
one hundred years, and property property just increases. Now it
has done exponential seven percent compounding per annum since two
thousand and two. Can it keep going at that rate?
Probably not? But will it stagnate?
Speaker 7 (40:20):
I doubt it.
Speaker 4 (40:21):
And one text to one text to wrap it up,
which I think is where I went wrong with the
way you framed the question. It says, you don't need
to play location, location location. You look for the house
and land that can be sold on as a future development,
said this person. But I think that's where we get
distracted because everything's location, location, location, But that's owner occupy stuff,
isn't it.
Speaker 5 (40:39):
That's exactly right, exactly.
Speaker 4 (40:40):
Hey, And if you want to check out Nicole Lewis's work,
then you can get in touch with her through the
propertylifestyle dot Com. Great to see Nicole, Look forward next time.
Great to see you too, John carn Is. Next, we're
going to talk about that social media band bill which
the government's put in, well, no national is put in.
Is it a good idea?
Speaker 1 (40:57):
Backcone For more from the Weekend Collective, listen live to
news Talks'd be weekends from three pm, or follow the
podcast on Heart Radio
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