March 6, 2026 • 41 mins
New builds and townhouses alike have become the best option for first home buyers looking to get into the market.
Townhouses offer a lower-cost alternative to standalone homes without having to fully commit to apartment living, and new builds often mean low-deposit loans and easier access for first home buyers.
Problem is, the boom of new build townhouses is quickly slowing down - they're no longer classed as new builds, thus no longer as easy of a first option.
It's not just a problem for potential buyers - it also means that those looking to sell the townhouses they purchased new a few years back, are waiting much longer for them to sell for not much more than what they were purchased for.
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News TALKSB.
Speaker 2 (00:32):
I just pay yeah, So welcome back to the Weekend Collective.
I'm ten beverage. By the way, if you miss any
any of the hours, you can go and check them
out on the iHeartRadio or web or the News Talks
B website. Just wait till six o'clock and then go
check them out. We'll all live it all up there
for you. It is now time for the one Roof
radio show and we want your calls. We want you
(00:53):
to join the conversation on eight hundred eighty ten eighty
text nine to nine two. And look, there are a
couple of sort of topics that sort of overlap here
a little bit. But new builds and towers have and
as you know, we've got a minister in the form
of Chris Bishop who wants to get housing builds cracking
and and keep the cost down and lower cost alternatives.
(01:14):
And so they have become a best option or an
option for first time buyers looking to get into the market.
And the problem is the boom of new townhouses. There
was a story where some of them are sitting there
for so long they're no longer even classed as new
builds because they've taken so long to sell. And so
there is a question over if you are going to
(01:36):
buy a house like this, how's what's it going to
be like to resell. I know someone who's in a
sort of apartment townhouse situation and they're looking to upgrade
or move, and you know, he regularly, he readily says, look,
you know, we're not sure what we're going to get
for it, because it's quite hard to sell them these days.
So how do you ensure that your first home or
(02:00):
any home, I guess, but in particularly your first home,
because that's when maybe you're in a bit of pressure
p and the options are limited. How do you ensure
that your first time or any home isn't going to
be hard to sell when you decide to upgrade? And
is there anything that you might look for as a
guarantee of making a profit or making it resellable at
(02:20):
least And we want your calls on this on eight
hundred and eighty ten eighty and to discuss it. She
is this. She is the CEO Got the Property Lifestyle.
Her name is Nicole Lewis, and she's with us for
the one roof radio show, and she's she's here, Hello, Hello, Allo.
I sound like I'm surprised you hear you're always here?
Of course, how are you?
Speaker 3 (02:38):
I am good? Thanks for having me back the townhouse.
Speaker 2 (02:42):
It's an interesting story, isn't it? The townhouses? And now
I'm going to almost tired and straight away with another
question that relates to this, because it's you know, they've
announced that Kiwi Saver they've got. Nikola Willis has that
looking at changing the rules so people who are indentured
or in a service contract where they have delve in
(03:03):
a particular location are allowed to use their Keiwi Saver
to buy a house that they are not going to
live in. And I suggested to Nichola Willis when I
spoke to her, I said, why don't you do that
for all renters. There are plenty of people renting in
Auckland who would love to buy their first home somewhere
they can afford. And she was like, oh, there's still
places they can buy in Auckland, which would probably lead
(03:25):
them to maybe a townhouse development, which might not be
really what they'd want to buy. I'm giving townhouses a
hard time, and I don't mean to either, but it's
you know, there is a story going on here, isn't there?
Speaker 3 (03:36):
Well, there is there is so interesting. So Stuff wrote
an article about Kiwi Saver actually after I approached them
a while ago, now a few months, because I said that,
I said, I think they need change the rules on
key we Saver to allow first home buyers to buy
any type of home, whether they live in it or
whether they don't. And there's got a lot of traction actually,
(03:59):
so a lot of a lot of comments on that.
And the reason I say that, which the two things
tie in as we goes up in value over time
as land and of course the problem with a terraced
house or an apartment as you don't have any land.
Speaker 2 (04:13):
Actually are there because I mean there are townhouses and
there are townhouses. I guess they are. You know, you
look at some developments and I imagine you know, you
look at some of the older developments in Australia and
Paran and things, and they're all sort of I don't
know if you call them a collection of townhouses, but
they're all cheek by jow, but you know they've got
a lot of value as well. Are there are there townhouses?
Speaker 3 (04:35):
And then there are townhouses, Well, I think there's location
and then there's location, so you know, it depends TV show,
depends where your townhouse is. You know, there's always certain
areas that are going to go up in value more
than other areas. And look at the end of the day,
they'll always go up in value. You know, we often
look at you look at the New Zealand stats over
(04:56):
the last one hundred years. Probably goes up.
Speaker 2 (04:58):
Depends on your timing, of course though, because not everyone's
got the flexibility of timing. So someone who bought a townhouse,
remember when they were the hot you know when townhouses
with a new thing and it's like, oh, there's a
nice new development here, and then you jump in and
then you find that four years later you want to
resell it and it's you're lucky if you get your
money back.
Speaker 3 (05:16):
Well, the market is cyclical, so you know, townhouses aside,
all property in the market is cyclical. So for example,
if you bought an Auckland in twenty twenty one, your
property is still not worth what it was then because
that was the peak and that was a huge peak
and then you had a big downside. It doesn't matter
what type of property you've got Yeah, so you've always
(05:37):
got to buy well no matter what you're buying. But
when you're a first home buyer, you don't necessarily have
the luxury of timing the cycle. You get in when
you can, you know, when you're finally approved and you
finally got your deposit.
Speaker 2 (05:52):
Yeah, it's funny because i mean, first time buyers are
you know that they're a large part of the market
right now and they're getting in. But it's bloody hard
to be a first time buyer still, you know, in
terms of you you generally have to make a conditional
offer because subject to builders reports and all these sorts
of things correct, they're still it's it's tough. But is
(06:12):
it always just going to be on you know, buying
the property that's going to have a better chance of selling.
Is it actually bring into focus location, location, location, more
than anything.
Speaker 3 (06:24):
It's a very good question, to be fair. There's probably
five key components. Okay, so one is definitely location, but
then again you're limited by how much money you've actually got.
Second is actually timing of the market, and sometimes you
know that's luck. I mean, let's face it, when the
market's peaking, the banks are giving away money when the
market's down the bottom, you can't borrow anything, and interest
(06:47):
rates the sky high. So you know I always one
or whatever? Yeah, yeah, correct, correct. The other is adding
value that what value you can add to your property.
The fourth thing is buy well, you know you always
I always say to my clients, you make money on
your purchase. It's no different when you're a home buyer.
(07:08):
So that brings you into the fifth thing, and that
is to be.
Speaker 2 (07:11):
Educated on How do I describe that one?
Speaker 3 (07:13):
You make money on your purchase, so you buy it?
Speaker 2 (07:17):
Well, what I think I need you to dig into that.
I'll actually give you a fifth point more dig into
number four.
Speaker 3 (07:24):
Well, that the two are really related because the fifth
point is to be a little bit more educated. You know,
like you might sort of think I'm a first home buyer,
I'm not an investor, so I'm not going to learn
about property. But actually, funny enough, I was just writing
some of my newsletters that I post on my LinkedIn,
and I just wrote the one about balance and property
is to be emotional and savvy with knowing your numbers
(07:48):
and first home buyers, let's face it, it's emotional purchase,
so we don't necessarily think, well, hang on, what's this
property going to do for me? And an agent who's
doing their job well to get the top dollar for
their vendor might cause you to pay more than you
can really afford as a first home buyer. And of
course you're excited because you've got the house, but then
(08:09):
you don't think about the struggle of making the mortgage payments,
especially if interest rates go up, or if it needs
some maintenance and you suddenly have to pay you to
have something done, or rates goes up for insurance goes up.
So I think sometimes, you know, we've got to realize
that there's always going to be another house around the corner.
If you miss out on.
Speaker 2 (08:27):
One, that's that is a big one, isn't it, Because
it is, and it's exhausting as well, and the requirement
This is where it's hard for first home buyers again
because you know, once they've gone through all those hoops
to get approval, to put their conditional offer again if
if it falls through, I mean, the pressure that's on
them just to get that property, as opposed to back
(08:49):
off and start again. I've got a mate of miney's
going through the process, and it's just I actually don't
I don't know how well I'd handled. He's hanging in there,
he's done well.
Speaker 4 (09:01):
True.
Speaker 3 (09:01):
Okay, here's the tricks I tell my clients, Right, So
I tell my clients that, first of all, you've got
to get your property under contract, and you've got to
have conditions in there. Now, real estate agents will hate
me saying this, but I always tell my clients use
a due diligence condition, not a subject to finance, subject
to building inspection reports, subject of due diligence. Real estate
(09:22):
agents hate it because basically a due diligence you can
change your mind?
Speaker 2 (09:25):
Is that like the that's INSTI one because back in
the days when I knew a tiny, a little bit
about convancing, the clauses that everyone was told to put
in which sellers hate it was the subject to purchased
as solicitor's approval. Correct, And there were a whole lot
of legal cases where the courts basically said, if you've
got a clause like that, and it's basically saying, you
(09:47):
can get out of it because your solicitor might just go,
my advice is not to buy this, and you go,
I'm out.
Speaker 3 (09:52):
Yeah, yeah.
Speaker 2 (09:53):
Is that what due diligence is.
Speaker 3 (09:56):
Basically is. But let's face it, it's protection for the
purchaser and you need some Yeah, and so I think
it's great for first home buyers to use it. And
then the other piece of advice I tell my clients
is I say do your free due diligence first. So
what is it that's not going to cost you any money?
Speaker 2 (10:14):
Free due diligience? This is what I call it.
Speaker 3 (10:16):
Right, this is a nicolism. So I say go send,
go to your bank or you're more good broker first
to start there. Even if you're pre approved, you know,
the bank still has to approve the property.
Speaker 2 (10:27):
Do that first.
Speaker 3 (10:27):
That doesn't cost you anything. Secondly, get the property bag
or the limb. Now, ninety nine percent of the time
the real agent has already ordered that, so that doesn't
cost you anything. So you can have a look through
that and make sure there's nothing that's untoward on the property.
Like if you're getting a limb, you want to make
sure that CCC is issued or building contents have been granted,
all those sorts of things. There's nothing unconsented, so that
(10:51):
that shouldn't cost you anything as a purchaser. And then
the next thing, of course, you want to build an
inspection report. But there's a couple of things that you
can do that don't cost you anything beforehand. Like I'll
often say, especially if we're buying something out of the
area that we live and we're not going to physically
view it ourselves, I will say.
Speaker 2 (11:10):
Well, that's a big play for most. Well, I mean
that's because you're a seasoned.
Speaker 3 (11:14):
I buy a lot of property they don't look at
I've never seen that, correct, yep.
Speaker 5 (11:17):
But I have a.
Speaker 3 (11:18):
Process, and so I say get a property manager. I mean, okay,
first home buyers aren't going to be using their services
because they're going to let be living in it until
key we saver come to the party which hopefully will
be soon. Send a property manager through and ask them
about it. Now, these guys are seasoned, they know what
they're looking at with properties, but get their inform, their
(11:40):
take on what's.
Speaker 2 (11:40):
The hard like wouldn't that be hard for a first
time by to do because the property manager will be like, well,
there's not a gig for me here.
Speaker 3 (11:46):
Oh, but look, people know people. You know, most property
managers that I dealt with, they do. They're really good.
But it's just one option. So there's three different options.
I say, a property manager is one, a real estate
agent is another. Not the agent you're buying it off
because they want their commission, so you'd look for another
agent to sort of go on, what do you think
of this? If I'm going to resell it down the track?
(12:08):
What do you think of the area and the street
and the building and the you know that sort of
thing getting up. They'll often have a look at it. Yes,
building inspectors, but you can talk to them on the
phone before you order the report. It's amazing. Building inspectors
know the areas. And the other thing, of course, is
a builder if you're wanting to so I don't use
(12:30):
a building inspector. I get my builder to go and
have a look at everything, and he's a lot less
expensive than a building inspector. Now he doesn't do the same,
he doesn't do a report. But when you think about it,
what are we trying to establish. We're basically trying to
establish that there's nothing structurally wrong with the house, that
it's not going to have piles that are going to
(12:52):
be falling over or a roof that's nowt to be done.
You know, you don't necessarily need a building inspector to
do that. The other thing is you can get the
vendor to get someone like Edward and Hardy's for example,
to come and do a report on the roof. Now
the vendor's free if the vendor asks for it. So
as the purchaser didn't cost you anything, Why would the
vendor not get that? I certainly would when I'm selling
(13:14):
a house. If the purchaser wants me to help them.
Speaker 2 (13:17):
How do they How does the vendor get that? Does that?
Speaker 3 (13:19):
They just ring them say can you come and have
a look at my roof and tell me if it
needs any maintenance? So you know that I do all
those things. And then if all of those things look good,
like the banker going yeah, this property is cool, because
the bank will look at all the photos on trade
me and they're looking for risk. And then the council
report all ticks off. And if the if they haven't
ordered a council report, phone the council ask them. Now
(13:42):
they'll go on, yes, you just order the property bag.
But you know still they'll they will answer your question,
which is costing you nothing, and then you know, call
a property manager or at agent or inspector.
Speaker 2 (13:56):
So okay, let's tie. Okay, let's tie them with the
townhouse thing, because these are generally new builds yep. And
so how does how do you go about finding a
talent because you know, the appeal of a townhouse to
a young family or a young couple, they're brand new,
you know. I mean, even though I think there's some
stat about the number of you know, things that haven't
(14:16):
been done, there's always more work to be done, whether
there's been mistakes in the carpentry or the building and
things like that. There's always things that need to be done.
But the appeal of a new house is a big one.
You know, you walk in the new paint everything. I mean,
it's yours first, and they you know, who doesn't like
a new house?
Speaker 6 (14:33):
Oh?
Speaker 3 (14:34):
Absolutely?
Speaker 2 (14:34):
But so I guess when it comes to that, you know,
you're not talking about getting a roof inspection or building
inspections buildings. You don't need anything. But so how do
you make sure that that townhouse you're looking at is
you know, going to be something that you're going to
be able to get rid of in a few years
time when you've got a family and you've expanded and
you've decided that maybe.
Speaker 3 (14:55):
Well, look at the end of the day, everything sells
when the market is in the right cycle. So you know, unfortunately,
if you happen to buy something into a twenty one
and in twenty twenty three you wanted to sell it,
you're kind of going to be buggered if I can
see that on the radio, no matter what type of
house you bought, because the market's dead.
Speaker 2 (15:15):
Yeah, is that? What's okay? Is that? What's the bit
of the problem in terms of the townhouse headlines? But
then again, these ones that are not selling, why are
they're not selling?
Speaker 5 (15:25):
It?
Speaker 2 (15:25):
Is it must be price?
Speaker 6 (15:27):
Is it?
Speaker 3 (15:27):
Well? I think a few reasons. You know, like it
takes a developer a good three years probably to complete.
So you're buying your land, you've got to go for
your resource consents, which usually take about eighteen months. Then
you've got to get your building consents. Then you've got
to do the build, and then you've got to go
through inspitis. Then you've got to get your CCC and
sign off, and then you've got to get your titles
(15:48):
and then you can start selling them. So a lot
of the developers missed time the market and therefore it's
no longer worth as much as it was so they'd
be selling it a loss, so they hang on, hang on,
hang on for as long as they possibly can before
they put prices down. But the other consideration, and I
said this right back in the beginning when Orpe came
(16:08):
out being the Auckland Unitary Plan, was that a huge
proportion of Auckland's land I don't know, something like eighty
percent is now better due for greater intensification.
Speaker 4 (16:19):
Where are those.
Speaker 2 (16:20):
People coming from?
Speaker 3 (16:21):
And we were lucky enough to have Jared Kerr come
to our event on Friday. It was really good listening
to an economist and one of the things he said
was the current migration, of course is way down in Auckland.
So at the moment, who have we got to buy
these houses?
Speaker 2 (16:39):
So if you were advising a first home buyer on
finding house, and let's say it's an expensive market, and
I mean, well, actually it doesn't really matter where whatever
the budget is, the entry level, what are you going
to be trying to help them find So it's not
something that's going to be a millstone around their neck
when they decide they need to.
Speaker 3 (16:59):
I think I think the biggest was first home buyers.
I get, you've got to buy where you were. You
love living, so you choose a location that you love,
and townhouses have an appeal to one thing.
Speaker 2 (17:13):
You've got it. You have to literally buy where you're
going to have to live in it.
Speaker 3 (17:17):
And some people don't want a piece of land. They
don't want to mow the lawns and do the guarden
and have weeds, you know, they just want to lock
up and leave. So that's what they're after. So if
that's what you want, get it. How do you ensure
that it's going to resell?
Speaker 4 (17:31):
It will?
Speaker 3 (17:32):
But it's like anything, property is a long term game.
So if you're a home buyer and you're going to
buy now and hope to sell in two years and
make money, you might if you've bought it at the
right time in the market.
Speaker 2 (17:46):
You might not actually.
Speaker 3 (17:48):
Same with investors those same.
Speaker 2 (17:49):
Anywhere, that question actually doesn't. I mean, even though just
because of the friendship I've got with someone who's in
that situations the first time buy. The question around apartments
and townhouses isn't actually just an entry level thing as well,
because there are some gorgeous developments around where you go. Man,
they'd be nice to live there. But of course, as
soon as you've bought that brand new development. It's a
(18:10):
year or so or six months away. It's yesterday's news
as well, and the next gorgeous new lot of apartments
are sprung up, and I wonder how I mean, I
guess you've got to work out why you're buying it.
And if you're buying it because you want to live
in it and enjoy it and love it, then probably
that's a good box to tick, because otherwise, I mean,
(18:32):
in my neck of the woods, there are some gorgeous
town look outside my reach, but there's some beautiful apartments.
But that's the thing I've noticed over the years. You
drive past it and go, oh, that's yesterday's news now.
Speaker 6 (18:44):
Yeah. Yeah.
Speaker 4 (18:45):
And look.
Speaker 3 (18:45):
The other thing is too apartments versus townhouse is you know,
apartments will have a body corp. And so even though
you might think.
Speaker 4 (18:52):
Oh cool, we've got a swimming pool and a gym
and a sauna and we're fifteen stories high, you've got
to think, hang on, wait a minute, and a few
years time that body corporate it's going to be quite
significantly higher because of all the maintenance that has to
be done on that.
Speaker 2 (19:06):
So I should know the answer to this question. But
what about townhouses? Who are along? Are they?
Speaker 3 (19:10):
They don't have them?
Speaker 2 (19:11):
Are they all on their own little plot of land
these days? And cross?
Speaker 3 (19:14):
So they're on a feat? Simple title.
Speaker 2 (19:17):
Across lace is dead.
Speaker 3 (19:19):
Yes, that's that's the old I mean there's still there's
still houses and that are a cross least that have
been for years. But now these days all your all
your terraced houses are on a feat.
Speaker 2 (19:29):
You know which part of the driveway you stop sweeping.
Speaker 3 (19:33):
Right, That's why you can look at them when they've
been painted.
Speaker 4 (19:35):
And see a line.
Speaker 3 (19:36):
We're one's beautifully fresh repainted and the other one isn't.
Speaker 2 (19:39):
Well actually interesting on that one. We're all different colors,
but luckily we've all got recently conservative tastes. Look, we'd
love to know you have your input on this. If
you are looking for, you know, a townhouse or an apartment,
how do you how do you make sure that you
know it's going to be something that's not a millstone
around your neck when it's time to sell or is
(20:01):
it really you've just got to play the long term game.
As Nicole Lewis has said, I like the idea as well,
to be honest. Location location, location, If you've got, but
that's all money, money, money, money as well. I eight
hundred and eighty ten eighty. The other thing we are
going to get into, by the way, before the end
of the hour is related to this. As to the
changes to Kiwi savers, should we just allow anyone, whether
(20:24):
they're renting or living in it, to buy their first
house with their Keiwi saver? I eight one hundred and
eighty ten eighty, Nicole Lewis, As I say, as my guest,
it's twenty six and twenty seven past four news talk
zd B talking about how do you make sure that
that first time or that townhouse or apartment you buy
is actually going to be something you can get rid
of because there are stories about townhouses taking so long
(20:45):
to sell they actually lose their new build status, which
much stress the developers out big time as well, speaking
of you know, first home buyers can be stressed. So yeah,
I eight hundred eighty ten eighty Andy, Hello.
Speaker 7 (20:57):
Oh I made How are you good?
Speaker 2 (20:58):
You're with my guest, Nicole Lewis.
Speaker 8 (21:01):
Yeah, I was just listening to your conversation. I found
it quite interesting. I'm current on the market with the
three bedroom, two bathroom townhouse in Albany, and it's a
gated community and it's it's resort style living. You know,
we have a lap pole, we have a rock pole,
and a star pool, and we have a gym and
(21:23):
all the whole area is I think there's about one
hundred and forty mixes between townhouses and apartments and it's
very much like dinner ow, you know how they have
all the beautiful landscape hedges and tropical plants. And this
developments about twelve years old. I know you're talking about
(21:44):
some amazing townhouses that are just being built, but this
twelve year old townhouses was done you know quality, you know,
all the tile and everything's quality. And I actually did
buy at the high end of the market in twenty
twenty two one point three, so I've taken we've taken
(22:08):
a bit of a loss, but I've come to market
with a brand new renovated you know, I've gone to
bring new cosmetic renovation. So it's pretty much turned key.
But at the moment the market is really quiet, you know,
to get the groups in, and I don't know what's
going on. Whether it's the lady that you were just
speaking to. She said that townhouses don't pay Body Court,
(22:32):
but we're fee simple.
Speaker 2 (22:35):
Yeah, I gather, I think yeah, I think gated communities
and anything where there's a certain number of dwellings. They
have to have some sort of something in place, don't
they ye, and a complex.
Speaker 6 (22:43):
Yeah too, yeah, yeah totally.
Speaker 8 (22:45):
So yeah, I played body Corp. But where we live
it stunning at night. It's got beautiful paths to walk
through and uplighting and all the hedges, and we have
a reserve right next to us that's got a waterfall,
and then you know, just down the road we've got
outwiny mega center everything there. You know, it's it's a
(23:06):
great lifestyle.
Speaker 2 (23:07):
It's so why are you selling?
Speaker 8 (23:11):
I'm looking to downsize? Yeah, so yeah, we've got it's
a fantastic product.
Speaker 2 (23:20):
Is this Is it stressful for you or are you
sort of cognizant? Because you are you will be buying
and selling in the same market, so there is a.
Speaker 8 (23:27):
Certain you know, well, mate, I'm extravaloporise to do brand
new villains and Ponsonby and gray Lynn, so I sort
of know the game. But new with townhouses. You know,
this townhouse is it takes all the boxes. But it's
just been very slow with groups.
Speaker 2 (23:45):
So you're saying that you know, yours is something you
would imagine would have an advantage above you know, the
flock of townhouses that are around, and yet you're still
saying it's still slow.
Speaker 8 (23:55):
Going, still so going at the moment, Yeah, totally, And
I'm trying to I'm trying to get my finger on it,
and again just yeah, can't explain it. I know that
I think the average listing time is about fifty four
days at the.
Speaker 9 (24:11):
Moment to be on the market.
Speaker 8 (24:14):
And I've heard that we've got about thirty thousand listenings
in Auckland. That's a lot of property.
Speaker 3 (24:20):
Yeah, we're at basically our highest level in ten years
of unsold stocks. So it's going to take a while
to wade through that.
Speaker 2 (24:28):
So what are you going to do? Are you going
to you're just going to wait it out, or are
you going to do something on price?
Speaker 8 (24:33):
I mean for the long game, mate, I think you
know it ebbs and flows. You know, there's always a
buyer out there. But the thing that has taken me
by surprises my property is it's a stunning product and
it takes all the boxes and just not getting the
groups through. By the way, it's ninety six Naples Way, Albany.
Speaker 2 (24:56):
Mate, you know what you've got. My interests are go
and check it out.
Speaker 8 (25:01):
Come and ever Look, mate, I'm not I'm not hard.
Speaker 2 (25:05):
I'm not in the market the Biber and I'm sure
you know I don't mind you popping that and there
we will have the property of the week. It does
Crais plan. B Um, there you go. Thanks for your call, Andy,
hang on a second way, were up to Dan? Hello?
Speaker 6 (25:19):
Gooday, how are you good?
Speaker 2 (25:20):
Things?
Speaker 6 (25:22):
Look, I don't want to throw a spanner in the
works if I can.
Speaker 2 (25:25):
Please sure where you go?
Speaker 6 (25:28):
Okay? And the spanner I'm going to throw in the
works is that I think New Zealand would be about
one of the only countries in the world where we
rely upon real estate alone. Would I be corrected in
(25:49):
saying that.
Speaker 2 (25:50):
Uh, well, we certainly had a big emphasis on it lately.
But I would argue that that shifted quite a bit. Well,
wouldn't you think it's two years ago? Three years ago? Dan,
I would have largely agreed up to a point. But Nicole,
what do you think?
Speaker 5 (26:06):
Well?
Speaker 3 (26:06):
I suppose it depends what you need to put a
bit more framework around that. When you say rely on
its own and what way as an economy when we've
got a lot of exports and that sort of thing
as well.
Speaker 6 (26:18):
Yeah, I would go as far as to say as
an economy and basically the mood of the country, so
to speak. Whereas you know, if you go to say,
some other countries and speak to Joe Bob, he would say, now, well,
I'm not putting my money into real estate. I'm putting
(26:40):
it into such and such, Whereas a New Zealand most
people rely on property, and I think that New Zealanders
have got it all wrong. Now hence why we're in
this mess that we're in.
Speaker 2 (26:57):
Yeah, well that interesting point. Look, Dan, I think that
if you'd said that two or three years ago, we
could have had more in an argument on that. But
I think that we have become more diversified investment, you know, economy.
With you, if you'd stuck you know, your money into
ship the S and P five years ago, you'd be
feeling pretty good about your returns on that too, wouldn't you, Nicole,
You would?
Speaker 3 (27:15):
I mean it is a New Zealand mindset though you know,
the Kiwis love to have their own home. Where we
are a nation that loves to own our own homes
versus countries where people just rent for life, so that
that sort of side to it comes in as well.
Speaker 2 (27:30):
Yeah, I did have a look at Anthony's house. It
is quite a nice looking, nice looking little property by
the way. So you've got your free plug in there, Anthony.
You know what, you know, it's tough game. So you
had the gumption to call up and got on you Helen.
Speaker 5 (27:41):
Hello, Oh you high high ten high Nicole. I'm watching
townhouses going up in blocks with shared walls, you know,
two stories, but I don't recall actually seeing that they've
all got their individual fire escapes from the second floor.
And now perhaps I'm just kind of not remembering something.
(28:05):
I've seen.
Speaker 2 (28:06):
Not too many two story houses or fire escaps, I don't.
Speaker 3 (28:10):
No, not really.
Speaker 5 (28:11):
Well, if you've got these locks of townhouses, you know,
all in row with shared walls, and you've got you've
got a fire that breaks out in one and spreads,
and then you've got in the middle of the night,
you've got people sleeping on the top floor and they
can't get they can't get down.
Speaker 3 (28:30):
Well, we have got very strong fire systems that we
have to do. Like all those walls will be firewalls
that fire can't get through. All your sub floors will
be fire rating, you'll have sprinkless systems, you'll have alarm systems,
and you'll have concrete stairways for fire exits. We're very
strong on fire.
Speaker 5 (28:49):
Sure about that because such some of these these townhouses
look very tacky. But even if it doesn't break out,
and while there are house you know, even in the
one dwelling and there's people on the second floor, how
they going to get down?
Speaker 2 (29:07):
Well, that's again I think that's a very good reason
why we whey you should always get your fire alarms,
your smoke alarms checked and make sure you're updating those
batteries and those smoke alarms. And it's a good reminder,
Helen for people. I've thought about that with our house
because we've got we've got a few modes of egress,
but it's one stairwell and I've just worked out how
I'd jump and jump and what I'd land on, and
(29:29):
you know, a sprained ankle would be preferable then the
other options.
Speaker 3 (29:34):
It's a good question. You've got to have all your
firewalls up, and the course council inspect that but if
there is actually a far is it going to contain it?
And if you're on the top floor, how do you
get out? Good question comes the latter.
Speaker 2 (29:47):
But yeah, but yeah, for people's peace of mind if
it's a recent development and living wall to wall sort
of thing, there are regulations around firewalls and they're protecting
one dwelling from another, which, of course, when you think
of it, it's just common sense, isn't it right. We
need to take a moment. We'll come back with Dave
in just a moment, Newstalk said. B Newstalk said, be
(30:08):
talking about townhouses, how do you make sure the one
you buy will not be a millstone around your neck?
Given there have been some negative headlines around townhouse is
taking a long time to sell, so long in fact,
that some have lost new build status, possibly an irritating
headline for people who are developers of townhouses. But anyway, Dave, Hello.
Speaker 7 (30:26):
Ah hi Yalmer developer, Hello, Hello, we have development out
of Hobsonville and Bayviews and we've saw five houses in
the last week. I think the issue is is that
there's a lot of this terrace house in townhouse stock.
Is that a lot of us built they crammed in
(30:48):
as many as they could. It's two or three levels.
The living areas are quite small, the bedrooms are quite small,
and people when they're desperate by that stuff. But now
that there's more stock available, more choice, less fomo that
that's the kind of product that sitting. And we standalone
single level housing, and I see we've sold five in
(31:10):
the last week. We sold last two days, we've sold five.
We sold seven this week.
Speaker 9 (31:15):
So you give people.
Speaker 7 (31:16):
The right product at the right price. You know, single
level stand alone brick extor tin roof, decent sized living
space is a bit of storage, and you know you
can still sell it.
Speaker 2 (31:31):
So are you you're slightly more, slightly more expensive than
the entry level ones.
Speaker 7 (31:36):
Then now from six hundred, we're six hundred and eighty
eight thousand up and we do good. We've got a
deal with we're putting forty twenty to forty thousand to
first home buyers or central workers, so we're putting them
back into housing. So we are doing that. But you know, no,
(31:56):
we're we're we're three bedroom houses nine hundred odd thousand,
you know, one or two bathrooms. You know, they group housing,
they are, so they're not why.
Speaker 2 (32:09):
You're selling and others aren't. It's just you have if
you just left a little bit more room for maybe
not so many houses, but it's more appeal.
Speaker 7 (32:20):
Well, they stand alone, so they don't you know in
this single level and council was asking us to do
two levels and everything, and I said, we don't want
to do it. We don't think the market's there. When
we looked at the market and the Hobsonville it was
one hundred and eighty terrass for sale and something like
two hundred and twenty in Hobsonville and eighteen hundred in Auckland.
(32:44):
So you know, they built a lot of cheap terrrist
housing that was crammed and hard to move the cars
and are now very tight, very small living living area.
Speaker 2 (32:57):
Is it a question also of timing in a way,
like if the market was still sky high, then the
ones who are turning out, the really cheap ones would
have buyers because people are just desperate. But now they've
got more choice you come into play.
Speaker 6 (33:11):
I think.
Speaker 7 (33:14):
Yeah, I think that that there's all properties, the developments
always time in the right time, right place.
Speaker 6 (33:19):
It's good.
Speaker 7 (33:20):
But I think the problem was there's a lot of
people building just cramming and as much as they can,
and it was and it was pretty awful. People have
been living in it or seeing and they're going, you
know what, I don't want to live in those ones.
And even though the councilmates say hey, you want that
high density, people are voting with their seat and wallets
and saying, well, it's fine, but we don't want.
Speaker 6 (33:40):
To live in them.
Speaker 7 (33:41):
So I think they're not fine.
Speaker 3 (33:43):
Yeah, I think you've got a key there when you
say yours a standalone so they're not really townhouses, they're
not attached. But also parking is another consideration as well,
so you've got if you've got gal garages, parking on
site makes a difference.
Speaker 7 (33:54):
We've got single parking on site because you know, we're
building at a price, selling at a price. But I
think a lot of the sorry, I think a lot
of the terraces terraces, and that you're on quite tight streets,
and you know Auckland councils and pushing bikes and electric
(34:17):
bike parking and everything. We you know, we they asked
us to put an electric bike parks and a're more
worried about that in the car parks.
Speaker 2 (34:30):
Yeah, just biking from Hobsonville point into into the city.
Piece of Cake probably probably.
Speaker 7 (34:40):
Asked us to visit a bike parks as well, you know,
and other than the old days would push up go
for we have to someone house and a pushboy. We'll
just parking the drive and lean it against the wall.
But had to dedicate all these type of things.
Speaker 2 (34:58):
Thanks for your call, Dave. I mean that's I mean
in the end, it's I mean it is. It's timing
matters for develop as well as time is everything, because
if the market was sky high, you can imagine those
people who planned those you know, let's cram as many
as we can and make it as affordable possible. People
are just desperate to get in. Now there's supply timings
acting maybe in some developers not their best.
Speaker 3 (35:21):
But you also had to so don't forget the cost
of building was sky high a few years ago, and
in order to make your numbers work, you had to
cram in as many as possible. Otherwise developers weren't making
any profit. So at least the cost of materials has
come down slightly now as well, so you can't afford
to build more standalone, Let's.
Speaker 2 (35:41):
Squeeze one more core before we go to a break
and then the property of the week as next Peter, Hello.
Speaker 9 (35:46):
Well, single levels. A person stole some of my thunder
And of course no garage is on a lot of properties,
and you're lucky if you've got a car park, just
one car park. So if you have a visitor or
something where they go to park, everyone's going to be
using it.
Speaker 2 (36:01):
Well, yeah, a couple of car parks. It's worth something,
isn't it.
Speaker 7 (36:03):
Pet It is.
Speaker 9 (36:05):
Yeah. And then I see some buildings that have a
left it might be only two or three stories that
they allow people to park. And the thing is if
you don't have that parking. And the other thing is,
of course the location. If you're right next to a
shop in center or mall or whatever it happens to be,
(36:28):
you don't need a car because currently the most popular
trip is to.
Speaker 2 (36:32):
The mall or shopping unless you want to go to work.
Speaker 9 (36:36):
Yeah, or it's over each delivery. So I think the
whole thing is a bit tricky really for the people
who want to downsize and find a place they can
afford that's a single level in the right location.
Speaker 2 (36:52):
Yeah, yeah, thanks Peter. Hey, look I guess yeah, I
see said it's tricky, but I mean, if it was
that easy, you want to be doing it all the
time and making a fortune. Of course, there was a
time when everyone was doing it making a fortune, but
those days have shifted a little bit, haven't they.
Speaker 3 (37:07):
Nicole, Well, you've just got to know what you're doing.
I think, like anything, you know, get yourself educated. Your
house is your biggest purchase that you'll ever make, and
I think I think it's going you'd probably be very
wise to learn a little bit about it first.
Speaker 2 (37:21):
I got to say, I do. When you said location, location,
it was almost like you'd said something that we all
know is true and I'd just forgotten it. But it's
worth you know, check out, as somebody said, you know,
check out the location. Is it handy to schools? You know,
the fish and chip shop is a good one, doctors, supermarket,
all that sort of thing. You know, how you know,
how how central is it? And if you've got a
(37:42):
few of those things on your side, it'll be interesting
to see how the transport hubs developments ideas goes, you know,
whether people decide you look, you know, I'm living within
a couple hundred meters walk of the train station. Yeah,
we wait and see. Anyway, Hey, look properly, the week
is next. It's ten to five news tooks.
Speaker 1 (37:58):
He'd beat the one roof property of the week on
the Weekend collective.
Speaker 2 (38:04):
Yes, the one roof property of the week. Well, it's
not a townhouse, it's not an apartment. It is probably
in one of not sure if I'm an expert in
Auckland addresses, but it is probably one of the more
exclusive streets in Arnie Road, Remue era. It's four bedrooms,
three bathroom, three car garage. The house is four fifty
seven square meters. Look, those are just numbers. In the end.
(38:27):
The thing that grabbed me as soon as you look
at it is it just has a pool to die for,
and it's it's a secluded sort of address, but it's
it's not going to be yours for much less than
much less than eight million dollars. The vs are around
eight million, the estimates around seven point four. How would
you how would you describe the property of the week there,
(38:49):
I'll give the I should give the address twenty two
Arnie Road, Remua, Nicole.
Speaker 3 (38:54):
It won't bet your body corporate to pay on that one.
But you know, let's hope the pool's heated. You without
powerable it will be about one thousand dollars a month.
But no problems if you've got eight million to buy
the house. I mean, what is the user stunning?
Speaker 2 (39:05):
That's the thing. The view is amazing, but isn't it funny?
The pool is the thing that does my heead on
because it's just gorgeous. It's the outdoor living looks amazing.
Funnily enough, it only has one photo. I mean, the
kitchen looks lovely, but only is one photo. It doesn't
have a sort of a photo of the kitchen looking
(39:26):
out the window. And I want to see what you're
looking at.
Speaker 3 (39:28):
But so you all go along and have a look always,
so you want to make it multi offer.
Speaker 2 (39:35):
Yes, but yeah, a little shy of eight million I had.
I was chatting to a friend who said, if they
were going to buy spend eight million dollars, the last
thing that they would want to make sure their neighbors
couldn't see a single thing they got up to. And
that's I mean, the city living, isn't it. I guess
eight million it's a lot to spend on a house,
isn't it.
Speaker 4 (39:54):
That it is?
Speaker 2 (39:55):
Where would you if you I mean, well, I'm not
going to guess how much money you have to spend
on our house, But if you were in that budget,
where would you be looking?
Speaker 6 (40:02):
Now?
Speaker 3 (40:03):
You see I'm different. See I like the rural license.
Speaker 2 (40:06):
Yeah, well you're you're after my producer's heart as well.
She's got that touch of touch of the rural about her.
It's like an insult, doesn't it. She's got to touch
a rural about her.
Speaker 3 (40:16):
That one so coatsful it would be that would be
the place for me.
Speaker 2 (40:19):
But if you were going to seek looking for a view,
it's got a stunning view. It's got an infinity style
Paul yes, leading off a lovely patio there and it's
definitely worth a looking. If you've got a spare seven
or eight mil, I'd say pop along and have a look.
Twenty two Arnie Road. I should have gone on and
checked the rates bill. That you can do that on
the Auckland Council website that you can check that out
as well. Anyway, any words of wisdom in about thirty
(40:43):
seconds on you know, buying that townhouse and making sure
it's not a Millstone.
Speaker 3 (40:48):
Best thing you can do get independent advice, Go talk
to a property coach or someone in property that has
got nothing in it except helping you out.
Speaker 2 (40:56):
Yeah, good stuff. And Location, Location, Location, and that name's
I guess you know, it raises its head again a
time after time. We're in a quiet market, isn't it? Location,
Location Location anyway?
Speaker 7 (41:06):
That was?
Speaker 2 (41:07):
That was Nicole Lewis on the One Roof Radio show
We'll Be Back with the Parents Squad. Google Sutherland's with
us Next Versus News talk Ship
Speaker 1 (41:18):
For more from the weekend collective, Listen live to News
Talks edb weekends from three pm, or follow the podcast
on iHeartRadio
You're listening to the Weekend Collective podcast from News TALKSB.
Speaker 2 (00:32):
I just pay yeah, So welcome back to the Weekend Collective.
I'm ten beverage. By the way, if you miss any
any of the hours, you can go and check them
out on the iHeartRadio or web or the News Talks
B website. Just wait till six o'clock and then go
check them out. We'll all live it all up there
for you. It is now time for the one Roof
radio show and we want your calls. We want you
(00:53):
to join the conversation on eight hundred eighty ten eighty
text nine to nine two. And look, there are a
couple of sort of topics that sort of overlap here
a little bit. But new builds and towers have and
as you know, we've got a minister in the form
of Chris Bishop who wants to get housing builds cracking
and and keep the cost down and lower cost alternatives.
(01:14):
And so they have become a best option or an
option for first time buyers looking to get into the market.
And the problem is the boom of new townhouses. There
was a story where some of them are sitting there
for so long they're no longer even classed as new
builds because they've taken so long to sell. And so
there is a question over if you are going to
(01:36):
buy a house like this, how's what's it going to
be like to resell. I know someone who's in a
sort of apartment townhouse situation and they're looking to upgrade
or move, and you know, he regularly, he readily says, look,
you know, we're not sure what we're going to get
for it, because it's quite hard to sell them these days.
So how do you ensure that your first home or
(02:00):
any home, I guess, but in particularly your first home,
because that's when maybe you're in a bit of pressure
p and the options are limited. How do you ensure
that your first time or any home isn't going to
be hard to sell when you decide to upgrade? And
is there anything that you might look for as a
guarantee of making a profit or making it resellable at
(02:20):
least And we want your calls on this on eight
hundred and eighty ten eighty and to discuss it. She
is this. She is the CEO Got the Property Lifestyle.
Her name is Nicole Lewis, and she's with us for
the one roof radio show, and she's she's here, Hello, Hello, Allo.
I sound like I'm surprised you hear you're always here?
Of course, how are you?
Speaker 3 (02:38):
I am good? Thanks for having me back the townhouse.
Speaker 2 (02:42):
It's an interesting story, isn't it? The townhouses? And now
I'm going to almost tired and straight away with another
question that relates to this, because it's you know, they've
announced that Kiwi Saver they've got. Nikola Willis has that
looking at changing the rules so people who are indentured
or in a service contract where they have delve in
(03:03):
a particular location are allowed to use their Keiwi Saver
to buy a house that they are not going to
live in. And I suggested to Nichola Willis when I
spoke to her, I said, why don't you do that
for all renters. There are plenty of people renting in
Auckland who would love to buy their first home somewhere
they can afford. And she was like, oh, there's still
places they can buy in Auckland, which would probably lead
(03:25):
them to maybe a townhouse development, which might not be
really what they'd want to buy. I'm giving townhouses a
hard time, and I don't mean to either, but it's
you know, there is a story going on here, isn't there?
Speaker 3 (03:36):
Well, there is there is so interesting. So Stuff wrote
an article about Kiwi Saver actually after I approached them
a while ago, now a few months, because I said that,
I said, I think they need change the rules on
key we Saver to allow first home buyers to buy
any type of home, whether they live in it or
whether they don't. And there's got a lot of traction actually,
(03:59):
so a lot of a lot of comments on that.
And the reason I say that, which the two things
tie in as we goes up in value over time
as land and of course the problem with a terraced
house or an apartment as you don't have any land.
Speaker 2 (04:13):
Actually are there because I mean there are townhouses and
there are townhouses. I guess they are. You know, you
look at some developments and I imagine you know, you
look at some of the older developments in Australia and
Paran and things, and they're all sort of I don't
know if you call them a collection of townhouses, but
they're all cheek by jow, but you know they've got
a lot of value as well. Are there are there townhouses?
Speaker 3 (04:35):
And then there are townhouses, Well, I think there's location
and then there's location, so you know, it depends TV show,
depends where your townhouse is. You know, there's always certain
areas that are going to go up in value more
than other areas. And look at the end of the day,
they'll always go up in value. You know, we often
look at you look at the New Zealand stats over
(04:56):
the last one hundred years. Probably goes up.
Speaker 2 (04:58):
Depends on your timing, of course though, because not everyone's
got the flexibility of timing. So someone who bought a townhouse,
remember when they were the hot you know when townhouses
with a new thing and it's like, oh, there's a
nice new development here, and then you jump in and
then you find that four years later you want to
resell it and it's you're lucky if you get your
money back.
Speaker 3 (05:16):
Well, the market is cyclical, so you know, townhouses aside,
all property in the market is cyclical. So for example,
if you bought an Auckland in twenty twenty one, your
property is still not worth what it was then because
that was the peak and that was a huge peak
and then you had a big downside. It doesn't matter
what type of property you've got Yeah, so you've always
(05:37):
got to buy well no matter what you're buying. But
when you're a first home buyer, you don't necessarily have
the luxury of timing the cycle. You get in when
you can, you know, when you're finally approved and you
finally got your deposit.
Speaker 2 (05:52):
Yeah, it's funny because i mean, first time buyers are
you know that they're a large part of the market
right now and they're getting in. But it's bloody hard
to be a first time buyer still, you know, in
terms of you you generally have to make a conditional
offer because subject to builders reports and all these sorts
of things correct, they're still it's it's tough. But is
(06:12):
it always just going to be on you know, buying
the property that's going to have a better chance of selling.
Is it actually bring into focus location, location, location, more
than anything.
Speaker 3 (06:24):
It's a very good question, to be fair. There's probably
five key components. Okay, so one is definitely location, but
then again you're limited by how much money you've actually got.
Second is actually timing of the market, and sometimes you
know that's luck. I mean, let's face it, when the
market's peaking, the banks are giving away money when the
market's down the bottom, you can't borrow anything, and interest
(06:47):
rates the sky high. So you know I always one
or whatever? Yeah, yeah, correct, correct. The other is adding
value that what value you can add to your property.
The fourth thing is buy well, you know you always
I always say to my clients, you make money on
your purchase. It's no different when you're a home buyer.
(07:08):
So that brings you into the fifth thing, and that
is to be.
Speaker 2 (07:11):
Educated on How do I describe that one?
Speaker 3 (07:13):
You make money on your purchase, so you buy it?
Speaker 2 (07:17):
Well, what I think I need you to dig into that.
I'll actually give you a fifth point more dig into
number four.
Speaker 3 (07:24):
Well, that the two are really related because the fifth
point is to be a little bit more educated. You know,
like you might sort of think I'm a first home buyer,
I'm not an investor, so I'm not going to learn
about property. But actually, funny enough, I was just writing
some of my newsletters that I post on my LinkedIn,
and I just wrote the one about balance and property
is to be emotional and savvy with knowing your numbers
(07:48):
and first home buyers, let's face it, it's emotional purchase,
so we don't necessarily think, well, hang on, what's this
property going to do for me? And an agent who's
doing their job well to get the top dollar for
their vendor might cause you to pay more than you
can really afford as a first home buyer. And of
course you're excited because you've got the house, but then
(08:09):
you don't think about the struggle of making the mortgage payments,
especially if interest rates go up, or if it needs
some maintenance and you suddenly have to pay you to
have something done, or rates goes up for insurance goes up.
So I think sometimes, you know, we've got to realize
that there's always going to be another house around the corner.
If you miss out on.
Speaker 2 (08:27):
One, that's that is a big one, isn't it, Because
it is, and it's exhausting as well, and the requirement
This is where it's hard for first home buyers again
because you know, once they've gone through all those hoops
to get approval, to put their conditional offer again if
if it falls through, I mean, the pressure that's on
them just to get that property, as opposed to back
(08:49):
off and start again. I've got a mate of miney's
going through the process, and it's just I actually don't
I don't know how well I'd handled. He's hanging in there,
he's done well.
Speaker 4 (09:01):
True.
Speaker 3 (09:01):
Okay, here's the tricks I tell my clients, Right, So
I tell my clients that, first of all, you've got
to get your property under contract, and you've got to
have conditions in there. Now, real estate agents will hate
me saying this, but I always tell my clients use
a due diligence condition, not a subject to finance, subject
to building inspection reports, subject of due diligence. Real estate
(09:22):
agents hate it because basically a due diligence you can
change your mind?
Speaker 2 (09:25):
Is that like the that's INSTI one because back in
the days when I knew a tiny, a little bit
about convancing, the clauses that everyone was told to put
in which sellers hate it was the subject to purchased
as solicitor's approval. Correct, And there were a whole lot
of legal cases where the courts basically said, if you've
got a clause like that, and it's basically saying, you
(09:47):
can get out of it because your solicitor might just go,
my advice is not to buy this, and you go,
I'm out.
Speaker 3 (09:52):
Yeah, yeah.
Speaker 2 (09:53):
Is that what due diligence is.
Speaker 3 (09:56):
Basically is. But let's face it, it's protection for the
purchaser and you need some Yeah, and so I think
it's great for first home buyers to use it. And
then the other piece of advice I tell my clients
is I say do your free due diligence first. So
what is it that's not going to cost you any money?
Speaker 2 (10:14):
Free due diligience? This is what I call it.
Speaker 3 (10:16):
Right, this is a nicolism. So I say go send,
go to your bank or you're more good broker first
to start there. Even if you're pre approved, you know,
the bank still has to approve the property.
Speaker 2 (10:27):
Do that first.
Speaker 3 (10:27):
That doesn't cost you anything. Secondly, get the property bag
or the limb. Now, ninety nine percent of the time
the real agent has already ordered that, so that doesn't
cost you anything. So you can have a look through
that and make sure there's nothing that's untoward on the property.
Like if you're getting a limb, you want to make
sure that CCC is issued or building contents have been granted,
all those sorts of things. There's nothing unconsented, so that
(10:51):
that shouldn't cost you anything as a purchaser. And then
the next thing, of course, you want to build an
inspection report. But there's a couple of things that you
can do that don't cost you anything beforehand. Like I'll
often say, especially if we're buying something out of the
area that we live and we're not going to physically
view it ourselves, I will say.
Speaker 2 (11:10):
Well, that's a big play for most. Well, I mean
that's because you're a seasoned.
Speaker 3 (11:14):
I buy a lot of property they don't look at
I've never seen that, correct, yep.
Speaker 5 (11:17):
But I have a.
Speaker 3 (11:18):
Process, and so I say get a property manager. I mean, okay,
first home buyers aren't going to be using their services
because they're going to let be living in it until
key we saver come to the party which hopefully will
be soon. Send a property manager through and ask them
about it. Now, these guys are seasoned, they know what
they're looking at with properties, but get their inform, their
(11:40):
take on what's.
Speaker 2 (11:40):
The hard like wouldn't that be hard for a first
time by to do because the property manager will be like, well,
there's not a gig for me here.
Speaker 3 (11:46):
Oh, but look, people know people. You know, most property
managers that I dealt with, they do. They're really good.
But it's just one option. So there's three different options.
I say, a property manager is one, a real estate
agent is another. Not the agent you're buying it off
because they want their commission, so you'd look for another
agent to sort of go on, what do you think
of this? If I'm going to resell it down the track?
(12:08):
What do you think of the area and the street
and the building and the you know that sort of
thing getting up. They'll often have a look at it. Yes,
building inspectors, but you can talk to them on the
phone before you order the report. It's amazing. Building inspectors
know the areas. And the other thing, of course, is
a builder if you're wanting to so I don't use
(12:30):
a building inspector. I get my builder to go and
have a look at everything, and he's a lot less
expensive than a building inspector. Now he doesn't do the same,
he doesn't do a report. But when you think about it,
what are we trying to establish. We're basically trying to
establish that there's nothing structurally wrong with the house, that
it's not going to have piles that are going to
(12:52):
be falling over or a roof that's nowt to be done.
You know, you don't necessarily need a building inspector to
do that. The other thing is you can get the
vendor to get someone like Edward and Hardy's for example,
to come and do a report on the roof. Now
the vendor's free if the vendor asks for it. So
as the purchaser didn't cost you anything, Why would the
vendor not get that? I certainly would when I'm selling
(13:14):
a house. If the purchaser wants me to help them.
Speaker 2 (13:17):
How do they How does the vendor get that? Does that?
Speaker 3 (13:19):
They just ring them say can you come and have
a look at my roof and tell me if it
needs any maintenance? So you know that I do all
those things. And then if all of those things look good,
like the banker going yeah, this property is cool, because
the bank will look at all the photos on trade
me and they're looking for risk. And then the council
report all ticks off. And if the if they haven't
ordered a council report, phone the council ask them. Now
(13:42):
they'll go on, yes, you just order the property bag.
But you know still they'll they will answer your question,
which is costing you nothing, and then you know, call
a property manager or at agent or inspector.
Speaker 2 (13:56):
So okay, let's tie. Okay, let's tie them with the
townhouse thing, because these are generally new builds yep. And
so how does how do you go about finding a
talent because you know, the appeal of a townhouse to
a young family or a young couple, they're brand new,
you know. I mean, even though I think there's some
stat about the number of you know, things that haven't
(14:16):
been done, there's always more work to be done, whether
there's been mistakes in the carpentry or the building and
things like that. There's always things that need to be done.
But the appeal of a new house is a big one.
You know, you walk in the new paint everything. I mean,
it's yours first, and they you know, who doesn't like
a new house?
Speaker 6 (14:33):
Oh?
Speaker 3 (14:34):
Absolutely?
Speaker 2 (14:34):
But so I guess when it comes to that, you know,
you're not talking about getting a roof inspection or building
inspections buildings. You don't need anything. But so how do
you make sure that that townhouse you're looking at is
you know, going to be something that you're going to
be able to get rid of in a few years
time when you've got a family and you've expanded and
you've decided that maybe.
Speaker 3 (14:55):
Well, look at the end of the day, everything sells
when the market is in the right cycle. So you know, unfortunately,
if you happen to buy something into a twenty one
and in twenty twenty three you wanted to sell it,
you're kind of going to be buggered if I can
see that on the radio, no matter what type of
house you bought, because the market's dead.
Speaker 2 (15:15):
Yeah, is that? What's okay? Is that? What's the bit
of the problem in terms of the townhouse headlines? But
then again, these ones that are not selling, why are
they're not selling?
Speaker 5 (15:25):
It?
Speaker 2 (15:25):
Is it must be price?
Speaker 6 (15:27):
Is it?
Speaker 3 (15:27):
Well? I think a few reasons. You know, like it
takes a developer a good three years probably to complete.
So you're buying your land, you've got to go for
your resource consents, which usually take about eighteen months. Then
you've got to get your building consents. Then you've got
to do the build, and then you've got to go
through inspitis. Then you've got to get your CCC and
sign off, and then you've got to get your titles
(15:48):
and then you can start selling them. So a lot
of the developers missed time the market and therefore it's
no longer worth as much as it was so they'd
be selling it a loss, so they hang on, hang on,
hang on for as long as they possibly can before
they put prices down. But the other consideration, and I
said this right back in the beginning when Orpe came
(16:08):
out being the Auckland Unitary Plan, was that a huge
proportion of Auckland's land I don't know, something like eighty
percent is now better due for greater intensification.
Speaker 4 (16:19):
Where are those.
Speaker 2 (16:20):
People coming from?
Speaker 3 (16:21):
And we were lucky enough to have Jared Kerr come
to our event on Friday. It was really good listening
to an economist and one of the things he said
was the current migration, of course is way down in Auckland.
So at the moment, who have we got to buy
these houses?
Speaker 2 (16:39):
So if you were advising a first home buyer on
finding house, and let's say it's an expensive market, and
I mean, well, actually it doesn't really matter where whatever
the budget is, the entry level, what are you going
to be trying to help them find So it's not
something that's going to be a millstone around their neck
when they decide they need to.
Speaker 3 (16:59):
I think I think the biggest was first home buyers.
I get, you've got to buy where you were. You
love living, so you choose a location that you love,
and townhouses have an appeal to one thing.
Speaker 2 (17:13):
You've got it. You have to literally buy where you're
going to have to live in it.
Speaker 3 (17:17):
And some people don't want a piece of land. They
don't want to mow the lawns and do the guarden
and have weeds, you know, they just want to lock
up and leave. So that's what they're after. So if
that's what you want, get it. How do you ensure
that it's going to resell?
Speaker 4 (17:31):
It will?
Speaker 3 (17:32):
But it's like anything, property is a long term game.
So if you're a home buyer and you're going to
buy now and hope to sell in two years and
make money, you might if you've bought it at the
right time in the market.
Speaker 2 (17:46):
You might not actually.
Speaker 3 (17:48):
Same with investors those same.
Speaker 2 (17:49):
Anywhere, that question actually doesn't. I mean, even though just
because of the friendship I've got with someone who's in
that situations the first time buy. The question around apartments
and townhouses isn't actually just an entry level thing as well,
because there are some gorgeous developments around where you go. Man,
they'd be nice to live there. But of course, as
soon as you've bought that brand new development. It's a
(18:10):
year or so or six months away. It's yesterday's news
as well, and the next gorgeous new lot of apartments
are sprung up, and I wonder how I mean, I
guess you've got to work out why you're buying it.
And if you're buying it because you want to live
in it and enjoy it and love it, then probably
that's a good box to tick, because otherwise, I mean,
(18:32):
in my neck of the woods, there are some gorgeous
town look outside my reach, but there's some beautiful apartments.
But that's the thing I've noticed over the years. You
drive past it and go, oh, that's yesterday's news now.
Speaker 6 (18:44):
Yeah. Yeah.
Speaker 4 (18:45):
And look.
Speaker 3 (18:45):
The other thing is too apartments versus townhouse is you know,
apartments will have a body corp. And so even though
you might think.
Speaker 4 (18:52):
Oh cool, we've got a swimming pool and a gym
and a sauna and we're fifteen stories high, you've got
to think, hang on, wait a minute, and a few
years time that body corporate it's going to be quite
significantly higher because of all the maintenance that has to
be done on that.
Speaker 2 (19:06):
So I should know the answer to this question. But
what about townhouses? Who are along? Are they?
Speaker 3 (19:10):
They don't have them?
Speaker 2 (19:11):
Are they all on their own little plot of land
these days? And cross?
Speaker 3 (19:14):
So they're on a feat? Simple title.
Speaker 2 (19:17):
Across lace is dead.
Speaker 3 (19:19):
Yes, that's that's the old I mean there's still there's
still houses and that are a cross least that have
been for years. But now these days all your all
your terraced houses are on a feat.
Speaker 2 (19:29):
You know which part of the driveway you stop sweeping.
Speaker 3 (19:33):
Right, That's why you can look at them when they've
been painted.
Speaker 4 (19:35):
And see a line.
Speaker 3 (19:36):
We're one's beautifully fresh repainted and the other one isn't.
Speaker 2 (19:39):
Well actually interesting on that one. We're all different colors,
but luckily we've all got recently conservative tastes. Look, we'd
love to know you have your input on this. If
you are looking for, you know, a townhouse or an apartment,
how do you how do you make sure that you
know it's going to be something that's not a millstone
around your neck when it's time to sell or is
(20:01):
it really you've just got to play the long term game.
As Nicole Lewis has said, I like the idea as well,
to be honest. Location location, location, If you've got, but
that's all money, money, money, money as well. I eight
hundred and eighty ten eighty. The other thing we are
going to get into, by the way, before the end
of the hour is related to this. As to the
changes to Kiwi savers, should we just allow anyone, whether
(20:24):
they're renting or living in it, to buy their first
house with their Keiwi saver? I eight one hundred and
eighty ten eighty, Nicole Lewis, As I say, as my guest,
it's twenty six and twenty seven past four news talk
zd B talking about how do you make sure that
that first time or that townhouse or apartment you buy
is actually going to be something you can get rid
of because there are stories about townhouses taking so long
(20:45):
to sell they actually lose their new build status, which
much stress the developers out big time as well, speaking
of you know, first home buyers can be stressed. So yeah,
I eight hundred eighty ten eighty Andy, Hello.
Speaker 7 (20:57):
Oh I made How are you good?
Speaker 2 (20:58):
You're with my guest, Nicole Lewis.
Speaker 8 (21:01):
Yeah, I was just listening to your conversation. I found
it quite interesting. I'm current on the market with the
three bedroom, two bathroom townhouse in Albany, and it's a
gated community and it's it's resort style living. You know,
we have a lap pole, we have a rock pole,
and a star pool, and we have a gym and
(21:23):
all the whole area is I think there's about one
hundred and forty mixes between townhouses and apartments and it's
very much like dinner ow, you know how they have
all the beautiful landscape hedges and tropical plants. And this
developments about twelve years old. I know you're talking about
(21:44):
some amazing townhouses that are just being built, but this
twelve year old townhouses was done you know quality, you know,
all the tile and everything's quality. And I actually did
buy at the high end of the market in twenty
twenty two one point three, so I've taken we've taken
(22:08):
a bit of a loss, but I've come to market
with a brand new renovated you know, I've gone to
bring new cosmetic renovation. So it's pretty much turned key.
But at the moment the market is really quiet, you know,
to get the groups in, and I don't know what's
going on. Whether it's the lady that you were just
speaking to. She said that townhouses don't pay Body Court,
(22:32):
but we're fee simple.
Speaker 2 (22:35):
Yeah, I gather, I think yeah, I think gated communities
and anything where there's a certain number of dwellings. They
have to have some sort of something in place, don't
they ye, and a complex.
Speaker 6 (22:43):
Yeah too, yeah, yeah totally.
Speaker 8 (22:45):
So yeah, I played body Corp. But where we live
it stunning at night. It's got beautiful paths to walk
through and uplighting and all the hedges, and we have
a reserve right next to us that's got a waterfall,
and then you know, just down the road we've got
outwiny mega center everything there. You know, it's it's a
(23:06):
great lifestyle.
Speaker 2 (23:07):
It's so why are you selling?
Speaker 8 (23:11):
I'm looking to downsize? Yeah, so yeah, we've got it's
a fantastic product.
Speaker 2 (23:20):
Is this Is it stressful for you or are you
sort of cognizant? Because you are you will be buying
and selling in the same market, so there is a.
Speaker 8 (23:27):
Certain you know, well, mate, I'm extravaloporise to do brand
new villains and Ponsonby and gray Lynn, so I sort
of know the game. But new with townhouses. You know,
this townhouse is it takes all the boxes. But it's
just been very slow with groups.
Speaker 2 (23:45):
So you're saying that you know, yours is something you
would imagine would have an advantage above you know, the
flock of townhouses that are around, and yet you're still
saying it's still slow.
Speaker 8 (23:55):
Going, still so going at the moment, Yeah, totally, And
I'm trying to I'm trying to get my finger on it,
and again just yeah, can't explain it. I know that
I think the average listing time is about fifty four
days at the.
Speaker 9 (24:11):
Moment to be on the market.
Speaker 8 (24:14):
And I've heard that we've got about thirty thousand listenings
in Auckland. That's a lot of property.
Speaker 3 (24:20):
Yeah, we're at basically our highest level in ten years
of unsold stocks. So it's going to take a while
to wade through that.
Speaker 2 (24:28):
So what are you going to do? Are you going
to you're just going to wait it out, or are
you going to do something on price?
Speaker 8 (24:33):
I mean for the long game, mate, I think you
know it ebbs and flows. You know, there's always a
buyer out there. But the thing that has taken me
by surprises my property is it's a stunning product and
it takes all the boxes and just not getting the
groups through. By the way, it's ninety six Naples Way, Albany.
Speaker 2 (24:56):
Mate, you know what you've got. My interests are go
and check it out.
Speaker 8 (25:01):
Come and ever Look, mate, I'm not I'm not hard.
Speaker 2 (25:05):
I'm not in the market the Biber and I'm sure
you know I don't mind you popping that and there
we will have the property of the week. It does
Crais plan. B Um, there you go. Thanks for your call, Andy,
hang on a second way, were up to Dan? Hello?
Speaker 6 (25:19):
Gooday, how are you good?
Speaker 2 (25:20):
Things?
Speaker 6 (25:22):
Look, I don't want to throw a spanner in the
works if I can.
Speaker 2 (25:25):
Please sure where you go?
Speaker 6 (25:28):
Okay? And the spanner I'm going to throw in the
works is that I think New Zealand would be about
one of the only countries in the world where we
rely upon real estate alone. Would I be corrected in
(25:49):
saying that.
Speaker 2 (25:50):
Uh, well, we certainly had a big emphasis on it lately.
But I would argue that that shifted quite a bit. Well,
wouldn't you think it's two years ago? Three years ago? Dan,
I would have largely agreed up to a point. But Nicole,
what do you think?
Speaker 5 (26:06):
Well?
Speaker 3 (26:06):
I suppose it depends what you need to put a
bit more framework around that. When you say rely on
its own and what way as an economy when we've
got a lot of exports and that sort of thing
as well.
Speaker 6 (26:18):
Yeah, I would go as far as to say as
an economy and basically the mood of the country, so
to speak. Whereas you know, if you go to say,
some other countries and speak to Joe Bob, he would say, now, well,
I'm not putting my money into real estate. I'm putting
(26:40):
it into such and such, Whereas a New Zealand most
people rely on property, and I think that New Zealanders
have got it all wrong. Now hence why we're in
this mess that we're in.
Speaker 2 (26:57):
Yeah, well that interesting point. Look, Dan, I think that
if you'd said that two or three years ago, we
could have had more in an argument on that. But
I think that we have become more diversified investment, you know, economy.
With you, if you'd stuck you know, your money into
ship the S and P five years ago, you'd be
feeling pretty good about your returns on that too, wouldn't you, Nicole,
You would?
Speaker 3 (27:15):
I mean it is a New Zealand mindset though you know,
the Kiwis love to have their own home. Where we
are a nation that loves to own our own homes
versus countries where people just rent for life, so that
that sort of side to it comes in as well.
Speaker 2 (27:30):
Yeah, I did have a look at Anthony's house. It
is quite a nice looking, nice looking little property by
the way. So you've got your free plug in there, Anthony.
You know what, you know, it's tough game. So you
had the gumption to call up and got on you Helen.
Speaker 5 (27:41):
Hello, Oh you high high ten high Nicole. I'm watching
townhouses going up in blocks with shared walls, you know,
two stories, but I don't recall actually seeing that they've
all got their individual fire escapes from the second floor.
And now perhaps I'm just kind of not remembering something.
(28:05):
I've seen.
Speaker 2 (28:06):
Not too many two story houses or fire escaps, I don't.
Speaker 3 (28:10):
No, not really.
Speaker 5 (28:11):
Well, if you've got these locks of townhouses, you know,
all in row with shared walls, and you've got you've
got a fire that breaks out in one and spreads,
and then you've got in the middle of the night,
you've got people sleeping on the top floor and they
can't get they can't get down.
Speaker 3 (28:30):
Well, we have got very strong fire systems that we
have to do. Like all those walls will be firewalls
that fire can't get through. All your sub floors will
be fire rating, you'll have sprinkless systems, you'll have alarm systems,
and you'll have concrete stairways for fire exits. We're very
strong on fire.
Speaker 5 (28:49):
Sure about that because such some of these these townhouses
look very tacky. But even if it doesn't break out,
and while there are house you know, even in the
one dwelling and there's people on the second floor, how
they going to get down?
Speaker 2 (29:07):
Well, that's again I think that's a very good reason
why we whey you should always get your fire alarms,
your smoke alarms checked and make sure you're updating those
batteries and those smoke alarms. And it's a good reminder,
Helen for people. I've thought about that with our house
because we've got we've got a few modes of egress,
but it's one stairwell and I've just worked out how
I'd jump and jump and what I'd land on, and
(29:29):
you know, a sprained ankle would be preferable then the
other options.
Speaker 3 (29:34):
It's a good question. You've got to have all your
firewalls up, and the course council inspect that but if
there is actually a far is it going to contain it?
And if you're on the top floor, how do you
get out? Good question comes the latter.
Speaker 2 (29:47):
But yeah, but yeah, for people's peace of mind if
it's a recent development and living wall to wall sort
of thing, there are regulations around firewalls and they're protecting
one dwelling from another, which, of course, when you think
of it, it's just common sense, isn't it right. We
need to take a moment. We'll come back with Dave
in just a moment, Newstalk said. B Newstalk said, be
(30:08):
talking about townhouses, how do you make sure the one
you buy will not be a millstone around your neck?
Given there have been some negative headlines around townhouse is
taking a long time to sell, so long in fact,
that some have lost new build status, possibly an irritating
headline for people who are developers of townhouses. But anyway, Dave, Hello.
Speaker 7 (30:26):
Ah hi Yalmer developer, Hello, Hello, we have development out
of Hobsonville and Bayviews and we've saw five houses in
the last week. I think the issue is is that
there's a lot of this terrace house in townhouse stock.
Is that a lot of us built they crammed in
(30:48):
as many as they could. It's two or three levels.
The living areas are quite small, the bedrooms are quite small,
and people when they're desperate by that stuff. But now
that there's more stock available, more choice, less fomo that
that's the kind of product that sitting. And we standalone
single level housing, and I see we've sold five in
(31:10):
the last week. We sold last two days, we've sold five.
We sold seven this week.
Speaker 9 (31:15):
So you give people.
Speaker 7 (31:16):
The right product at the right price. You know, single
level stand alone brick extor tin roof, decent sized living
space is a bit of storage, and you know you
can still sell it.
Speaker 2 (31:31):
So are you you're slightly more, slightly more expensive than
the entry level ones.
Speaker 7 (31:36):
Then now from six hundred, we're six hundred and eighty
eight thousand up and we do good. We've got a
deal with we're putting forty twenty to forty thousand to
first home buyers or central workers, so we're putting them
back into housing. So we are doing that. But you know, no,
(31:56):
we're we're we're three bedroom houses nine hundred odd thousand,
you know, one or two bathrooms. You know, they group housing,
they are, so they're not why.
Speaker 2 (32:09):
You're selling and others aren't. It's just you have if
you just left a little bit more room for maybe
not so many houses, but it's more appeal.
Speaker 7 (32:20):
Well, they stand alone, so they don't you know in
this single level and council was asking us to do
two levels and everything, and I said, we don't want
to do it. We don't think the market's there. When
we looked at the market and the Hobsonville it was
one hundred and eighty terrass for sale and something like
two hundred and twenty in Hobsonville and eighteen hundred in Auckland.
(32:44):
So you know, they built a lot of cheap terrrist
housing that was crammed and hard to move the cars
and are now very tight, very small living living area.
Speaker 2 (32:57):
Is it a question also of timing in a way,
like if the market was still sky high, then the
ones who are turning out, the really cheap ones would
have buyers because people are just desperate. But now they've
got more choice you come into play.
Speaker 6 (33:11):
I think.
Speaker 7 (33:14):
Yeah, I think that that there's all properties, the developments
always time in the right time, right place.
Speaker 6 (33:19):
It's good.
Speaker 7 (33:20):
But I think the problem was there's a lot of
people building just cramming and as much as they can,
and it was and it was pretty awful. People have
been living in it or seeing and they're going, you
know what, I don't want to live in those ones.
And even though the councilmates say hey, you want that
high density, people are voting with their seat and wallets
and saying, well, it's fine, but we don't want.
Speaker 6 (33:40):
To live in them.
Speaker 7 (33:41):
So I think they're not fine.
Speaker 3 (33:43):
Yeah, I think you've got a key there when you
say yours a standalone so they're not really townhouses, they're
not attached. But also parking is another consideration as well,
so you've got if you've got gal garages, parking on
site makes a difference.
Speaker 7 (33:54):
We've got single parking on site because you know, we're
building at a price, selling at a price. But I
think a lot of the sorry, I think a lot
of the terraces terraces, and that you're on quite tight streets,
and you know Auckland councils and pushing bikes and electric
(34:17):
bike parking and everything. We you know, we they asked
us to put an electric bike parks and a're more
worried about that in the car parks.
Speaker 2 (34:30):
Yeah, just biking from Hobsonville point into into the city.
Piece of Cake probably probably.
Speaker 7 (34:40):
Asked us to visit a bike parks as well, you know,
and other than the old days would push up go
for we have to someone house and a pushboy. We'll
just parking the drive and lean it against the wall.
But had to dedicate all these type of things.
Speaker 2 (34:58):
Thanks for your call, Dave. I mean that's I mean
in the end, it's I mean it is. It's timing
matters for develop as well as time is everything, because
if the market was sky high, you can imagine those
people who planned those you know, let's cram as many
as we can and make it as affordable possible. People
are just desperate to get in. Now there's supply timings
acting maybe in some developers not their best.
Speaker 3 (35:21):
But you also had to so don't forget the cost
of building was sky high a few years ago, and
in order to make your numbers work, you had to
cram in as many as possible. Otherwise developers weren't making
any profit. So at least the cost of materials has
come down slightly now as well, so you can't afford
to build more standalone, Let's.
Speaker 2 (35:41):
Squeeze one more core before we go to a break
and then the property of the week as next Peter, Hello.
Speaker 9 (35:46):
Well, single levels. A person stole some of my thunder
And of course no garage is on a lot of properties,
and you're lucky if you've got a car park, just
one car park. So if you have a visitor or
something where they go to park, everyone's going to be
using it.
Speaker 2 (36:01):
Well, yeah, a couple of car parks. It's worth something,
isn't it.
Speaker 7 (36:03):
Pet It is.
Speaker 9 (36:05):
Yeah. And then I see some buildings that have a
left it might be only two or three stories that
they allow people to park. And the thing is if
you don't have that parking. And the other thing is,
of course the location. If you're right next to a
shop in center or mall or whatever it happens to be,
(36:28):
you don't need a car because currently the most popular
trip is to.
Speaker 2 (36:32):
The mall or shopping unless you want to go to work.
Speaker 9 (36:36):
Yeah, or it's over each delivery. So I think the
whole thing is a bit tricky really for the people
who want to downsize and find a place they can
afford that's a single level in the right location.
Speaker 2 (36:52):
Yeah, yeah, thanks Peter. Hey, look I guess yeah, I
see said it's tricky, but I mean, if it was
that easy, you want to be doing it all the
time and making a fortune. Of course, there was a
time when everyone was doing it making a fortune, but
those days have shifted a little bit, haven't they.
Speaker 3 (37:07):
Nicole, Well, you've just got to know what you're doing.
I think, like anything, you know, get yourself educated. Your
house is your biggest purchase that you'll ever make, and
I think I think it's going you'd probably be very
wise to learn a little bit about it first.
Speaker 2 (37:21):
I got to say, I do. When you said location, location,
it was almost like you'd said something that we all
know is true and I'd just forgotten it. But it's
worth you know, check out, as somebody said, you know,
check out the location. Is it handy to schools? You know,
the fish and chip shop is a good one, doctors, supermarket,
all that sort of thing. You know, how you know,
how how central is it? And if you've got a
(37:42):
few of those things on your side, it'll be interesting
to see how the transport hubs developments ideas goes, you know,
whether people decide you look, you know, I'm living within
a couple hundred meters walk of the train station. Yeah,
we wait and see. Anyway, Hey, look properly, the week
is next. It's ten to five news tooks.
Speaker 1 (37:58):
He'd beat the one roof property of the week on
the Weekend collective.
Speaker 2 (38:04):
Yes, the one roof property of the week. Well, it's
not a townhouse, it's not an apartment. It is probably
in one of not sure if I'm an expert in
Auckland addresses, but it is probably one of the more
exclusive streets in Arnie Road, Remue era. It's four bedrooms,
three bathroom, three car garage. The house is four fifty
seven square meters. Look, those are just numbers. In the end.
(38:27):
The thing that grabbed me as soon as you look
at it is it just has a pool to die for,
and it's it's a secluded sort of address, but it's
it's not going to be yours for much less than
much less than eight million dollars. The vs are around
eight million, the estimates around seven point four. How would
you how would you describe the property of the week there,
(38:49):
I'll give the I should give the address twenty two
Arnie Road, Remua, Nicole.
Speaker 3 (38:54):
It won't bet your body corporate to pay on that one.
But you know, let's hope the pool's heated. You without
powerable it will be about one thousand dollars a month.
But no problems if you've got eight million to buy
the house. I mean, what is the user stunning?
Speaker 2 (39:05):
That's the thing. The view is amazing, but isn't it funny?
The pool is the thing that does my heead on
because it's just gorgeous. It's the outdoor living looks amazing.
Funnily enough, it only has one photo. I mean, the
kitchen looks lovely, but only is one photo. It doesn't
have a sort of a photo of the kitchen looking
(39:26):
out the window. And I want to see what you're
looking at.
Speaker 3 (39:28):
But so you all go along and have a look always,
so you want to make it multi offer.
Speaker 2 (39:35):
Yes, but yeah, a little shy of eight million I had.
I was chatting to a friend who said, if they
were going to buy spend eight million dollars, the last
thing that they would want to make sure their neighbors
couldn't see a single thing they got up to. And
that's I mean, the city living, isn't it. I guess
eight million it's a lot to spend on a house,
isn't it.
Speaker 4 (39:54):
That it is?
Speaker 2 (39:55):
Where would you if you I mean, well, I'm not
going to guess how much money you have to spend
on our house, But if you were in that budget,
where would you be looking?
Speaker 6 (40:02):
Now?
Speaker 3 (40:03):
You see I'm different. See I like the rural license.
Speaker 2 (40:06):
Yeah, well you're you're after my producer's heart as well.
She's got that touch of touch of the rural about her.
It's like an insult, doesn't it. She's got to touch
a rural about her.
Speaker 3 (40:16):
That one so coatsful it would be that would be
the place for me.
Speaker 2 (40:19):
But if you were going to seek looking for a view,
it's got a stunning view. It's got an infinity style
Paul yes, leading off a lovely patio there and it's
definitely worth a looking. If you've got a spare seven
or eight mil, I'd say pop along and have a look.
Twenty two Arnie Road. I should have gone on and
checked the rates bill. That you can do that on
the Auckland Council website that you can check that out
as well. Anyway, any words of wisdom in about thirty
(40:43):
seconds on you know, buying that townhouse and making sure
it's not a Millstone.
Speaker 3 (40:48):
Best thing you can do get independent advice, Go talk
to a property coach or someone in property that has
got nothing in it except helping you out.
Speaker 2 (40:56):
Yeah, good stuff. And Location, Location, Location, and that name's
I guess you know, it raises its head again a
time after time. We're in a quiet market, isn't it? Location,
Location Location anyway?
Speaker 7 (41:06):
That was?
Speaker 2 (41:07):
That was Nicole Lewis on the One Roof Radio show
We'll Be Back with the Parents Squad. Google Sutherland's with
us Next Versus News talk Ship
Speaker 1 (41:18):
For more from the weekend collective, Listen live to News
Talks edb weekends from three pm, or follow the podcast
on iHeartRadio
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