Mountain Vista Estate

We are delighted to provide you with the latest update on the progress of the Mountain Vista Estate project for the first quarter of 2024.

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Stage 1A and 2

Title processing through LINZ is underway, and we expect title issuance imminently. Settlement calls for these stages will follow promptly.

Stage 1B

Painting is nearing completion in most houses, followed by final fix of services and installation of kitchens and bathrooms. While there have been slight delays, completion is now expected for June. Title issuance alongside Stages 1A and 2 is anticipated, streamlining the settlement process.

Stage 3 and 5
The structure is nearing completion for blocks 15,16,17 & 18, after which internal fitout and landscaping will commence. Structural changes are being processed, with no significant impact expected on the product or timeline. Site preparation continues, with under-slab services being readied for concrete pad installation.
Stage 4
Design work for the ground floor is underway, necessitating an amendment to the building consent. The structure is almost complete, and we anticipate commencing work on roofing and external cladding soon.
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  • A few houses are still available for sale. If you or anyone you know is interested, please do not hesitate to get in touch.
  • Don’t forget our referral program; if you refer a friend who purchases, you’ll receive a referral fee of $500.
    *T&C’s applicable.
  • Practical completion for stage 3 is projected for Q4 2024.
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Te Awa Terraces

We are pleased to provide you with the latest update on the progress of the Te Awa Terraces project for the first quarter of 2024.

  • All earthworks have been successfully completed, marking a significant milestone in the project’s development.
  • Kerb and channel work for the roadway have been finished, enhancing the infrastructure of the development.
  • Concrete pouring for the road will commence shortly, with carparks already benefiting from laid concrete.
  • Under-slab services are currently underway, and preparations for laying concrete slabs have begun, demonstrating steady progress in the construction phase.
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  • We are excited to announce that 45% of the properties in the development have already been sold, indicating strong market interest and demand.Our program is currently tracking on times which indicates that settlements are projected for Q4 of this year, outlining our commitment to delivering your a home within the outlined timeline.
  • The project is estimated to be completed by the end of the year 2024, with settlement aimed for the end of 2024 or early 2025.
  • We are committed to closely monitoring progress and will provide a more precise timeline update in our upcoming communications to ensure transparency and clarity for all stakeholders.
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Sunnyvale Terraces

We are pleased to share with you the latest update on the progress of the Sunnyvale Terraces project for the first quarter of 2024.

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  • Legal notices were served to expedite the removal of existing houses, and we are delighted to announce that all contracted dwellings have been successfully removed from the site.
  • The site now stands clear and ready for the commencement of main works, marking an exciting phase in the project’s progression.
  • Collaborating with an asbestos surveyor, we conducted a comprehensive site investigation, ensuring any identified asbestos is safely removed and disposed of at a designated tip site before construction activities commence.
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  • Early works engagement and the main contract for civil and earthworks have been finalised with Matland, who are now establishing themselves on site and poised to commence works.
  • The vertical construction tender package has been distributed, and we have begun receiving tenders. We are diligently reviewing these submissions with the aim of awarding the work within the next one to two weeks.
  • With the completion of much of the preparatory “behind the scenes” work, we anticipate a surge of activity on site in the coming months as construction ramps up. We eagerly anticipate witnessing the development come to life with the presence of numerous busy workers.
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  • We are excited to announce that 26% of the properties in the development have already been sold, indicating strong market interest and demand.
  • We are committed to closely monitoring progress and will provide a more precise timeline update in our upcoming communications to ensure transparency and clarity for all stakeholders.

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Edmonton Mews

We’re thrilled to kick off 2024 with our first project update for Edmonton Mews.

Progress at Edmonton is picking up momentum, with the successful lodging of consent with the council, and we are eagerly looking ahead to the scheduled commencement of demolition activities in March, pending final approval. This brings us closer to realising the transformative vision of Edmonton, the vibrant and dynamic space you’ve invested in.

In an exciting recent development, we’ve partnered with the Auckland Fire and Rescue Service, granting them access to utilise the houses on-site for training purposes ahead of demolition. It’s immensely fulfilling to support such a noble cause that directly serves our community’s needs, providing them with an invaluable training environment.

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Sunnyvale Terraces

We extend a warm welcome to our first project update for Sunnyvale Terraces, in 2024.

Progress is steadily advancing, with the successful removal of most existing houses from the site, marking a significant milestone. Currently, our focus lies on comprehensive site preparation, emphasising civil and earthworks to establish a solid foundation for the forthcoming construction phase.

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According to our programming plan, practical completion is anticipated for Quarter 4 of this year, underscoring our commitment to delivering your future home within the specified timeframe.

As we embark on this journey together, we assure you that we are dedicated to keeping you informed every step of the way.

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Te Awa Terraces

Welcome to our project update for Te Awa Terraces for 2024.

Progress with this development is proceeding smoothly with existing houses on the site having been successfully removed. With the site preparation undertaken, we are now deep in the throes of civil and earthworks to lay the property services and foundations ready for the upcoming construction phase

We are excited to share that our construction pre-start meetings commenced late last year, involving discussions with the council and contractors to ensure a seamless transition into the construction phase. Additionally, we have duly served notifications to neighbouring properties regarding the upcoming works to ensure transparency and cooperation within our community.

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Our program is currently tracking on times which indicates that settlements are projected for Q4 of this year, outlining our commitment to delivering your future home within the outlined timeline.

The next steps are for the road to be prepared and concrete pads to go down ready for frames to come in, so keep your eyes peeled for our next update!

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Mountain Vista Estate

We are excited to provide our first project update for 2024 regarding Mountain Vista Estate. The year has kicked off well and we’re thrilled to share the progress we’ve made on your property!

 

We’re pleased to inform you that we’ve obtained Code of Compliance for Stage 1 (blocks 1, 3, 5, and 7) and Stage 2 (blocks 8,9,10,11 and 12), with settlements due very soon pending the issuance of 224C and subsequent titles.

The 224C approval is awaiting the final green light from the Auckland council parks concerning the esplanade reserve, which is expected imminently. We anticipate practical completion for the remaining blocks in Stage 1 in April.

 

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Stage 3 has seen significant advancements, with trades tirelessly working throughout the summer break.

On site, Stage 3 is broken down into a further three stages, known internally as stages 3, 4 and 5. Stage 3 drainage, structural work, joinery, and cladding have all been completed and approved. Additionally, Stage 4 (the apartment block) has received approval for civils, fitout and façade consent, and work is scheduled to commence shortly. Stage 5 consents have also been approved, marking another significant milestone in our progress.

To provide you with a visual representation of the development’s advancement, please find below some images showcasing the progress site-wide.

Thank you for your continued trust and support in our project.

Mountain Vista Estate - Duval
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Verge Apartments

Welcome to our project update for Verge Apartments for 2024.

Work on the site is currently paused as we undertake some necessary consent amendments. We anticipate lodging the amendments with the council within the coming weeks.
Our site management team is actively recruiting additional personnel to bolster our project management capabilities once construction resumes.

Your satisfaction and peace of mind remain our top priorities, and we’re committed to ensuring a seamless experience throughout the development journey.

We sincerely appreciate your ongoing trust and support in Verge Apartments.

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Official Cash Rate Stays Stagnant at 5.5% - What does this mean?

The Reserve Bank of New Zealand decided yesterday to hold the Official Cash Rate (OCR) at 5.5%. This means interest rates will stay relatively high for now. This helps control inflation by discouraging borrowing and spending, aiming to cool down the economy and bring inflation back to the target range.

Here's a breakdown of what's happening in New Zealand's economy, focusing on inflation:

1. Recent progress: Good news! Inflation (the increase in prices) is gradually dropping closer to the target range (1-3%). This is partly due to:

    • Less demand: People and businesses are spending less as the global economy weakens.
    • More supply: The labor market has become less tight, meaning businesses can find workers more easily.

2. Challenges remain: However, inflation is still above the ideal range. This means things are still getting a bit more expensive overall, even though the rate of increase is slowing down.

3. Looking ahead: There are still uncertainties that could affect inflation, including:

    • Global slowdown: The weak global economy could continue to impact New Zealand.
    • China's economy: If China's economic problems worsen, it could further affect global trade and prices.

4. The Reserve Bank will continue to monitor the situation and adjust policies as needed to keep inflation under control.

RBNZ OCR Decision Today: Potential Impact on Mortgages in New Zealand

With the rising cost of living and a challenging housing market, achieving the dream of homeownership might seem daunting for many young Kiwis. However, innovative strategies and a changing landscape are offering new pathways for first-home buyers to get their foot on the property ladder. Here's a look at some emerging trends:

Investment Properties as a Stepping Stone

While purchasing a home to live in is traditionally the first step, many first-home buyers are opting for smaller, more affordable investment properties in less expensive locations. This strategy allows them to enter the market, build equity, and potentially leverage that equity to purchase a primary residence later on. News outlets like Stuff.co.nz have highlighted this trend, demonstrating the adaptability of first-time buyers in the current market.

Family Finance: The Rise of the "Bank of Mum and Dad"

With increasing house prices, many first-home buyers are getting a helping hand from parents or other family members. This support can come in various forms:

Gifted deposit: Family members can help with a chunk of the down payment.

Guarantors: Parents might act as guarantors, allowing their children to secure a larger mortgage.

Family trusts: More complex options, like establishing family trusts that invest in property, can provide long-term benefits for younger generations.

Teaming Up: Buying with Friends

Rising prices have led to another emerging trend – first-home buyers teaming up with friends or even siblings to co-purchase a property. By pooling their resources and sharing ownership, this strategy can make homeownership achievable. Just be sure to seek legal advice for a clear agreement outlining ownership shares and exit strategies.

Advantages of New and Off-the-Plan Builds

Purchasing a new-build or off-the-plan property offers several benefits for first-home buyers:

Lower deposits: Often, these properties require lower deposits compared to existing homes.

Greater borrowing capacity: You might be able to borrow more based on the expected future value of the property.

Shorter bright-line test: New-builds are often subject to shorter bright-line test periods, potentially reducing tax burdens if you sell within a few years.

Potential Impact of New Zealand Government Policies

The recent change in government could lead to further policy shifts influencing first-home buyers. Potential changes being discussed in the media include:

Increased support for first-home purchase schemes: This could expand existing programs or introduce new ones.

Tax reforms: These could potentially target property investors and create a more favorable environment for owner-occupiers.

It's Not Impossible: You Can Still Get on the Ladder

The path to homeownership might look different today, but with creativity, support from those around you, and a willingness to adapt, it's still within reach. It's about finding the strategy that works best for your situation.

Important: For personalised guidance regarding mortgages, grants, and financial assistance schemes, be sure to consult with a qualified mortgage broker or financial advisor. Stay informed about government policy changes by visiting official websites and following reputable news sources within New Zealand.

The path to owning your own home might require outside-the-box thinking, but remember – where there's a will, there's always a way!.