Style: October 07, 2022

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14 Style | Newsfeed Paw couture Forget catwalks, dogwalks are the new way to show off the latest fashions – for your pampered pooch that is. Whether you’re entering your canine companion in the show (for a chance to win a night for two at Matai Peak luxury lodge, plus other spot prizes) or just want to watch the fun unfold, head to The Colombo Dog Fashion Show on Sunday October 16 at 10am. thecolombo.co.nz In tinted colour Kiwi lipstick queen Karen Murrell is back with a bang with her very first range of lip tints. In four fab hues and with an island-inspired natural fragrance, the ‘Island Goddess’ Lip Tints capture the nourishing benefits of Karen’s beloved Moisture Stick and are infused with a hint of subtle, buildable colour. karenmurrell.com Expand your horizons Prepare for exciting local and global career opportunities with a certificate, diploma or degree in hospitality or tourism, starting at Ara in February. You’ll learn from expert tutors, gain hands-on skills and graduate work-ready and in demand. Learn more and apply at ara.ac.nz
RIDING PROPERTYCycle THE All of us, myself included, are constantly reminded by both written and spoken rhetoric of the property market’s nuances. It’s going up. It’s going down. It’s reached the bottom. It’s near the top. It’s gone from FOMO (fear of missing out) to FOOP (fear of overpaying)… and for ordinary Kiwis doing their best to buy well or even sell with an element of satisfaction, it can feel like a minefield. So, what can I tell you that provides some insight into not only our current local market but the dynamics that govern any market? Market cycles basically consist of four main phases. Before we look at them, it’s useful to acknowledge that this concept has been in existence for nearly 100 years and reflects the efforts analysts have made trying to assist and predict market forces. See if you recognize them – or perhaps your own personal property market position. Boom You’ll know this one. It’s said by some authorities to be the first stage of the property cycle. As the word suggests, the price of property rises, asking prices are exceeded, auction is the favorite method of selling and demand is greater than supply. It’s exciting, both fast and furious, and it favors sellers. It’s hard on buyers, particularly firsthome buyers, and can result in scenarios where what you paid to buy could be considered too much when you go on to sell, something I have witnessed recently. If you haven’t already guessed, we have just had such a period (the last 18 months, coming to a halt around April 2022) and we haven’t been alone: it’s been an international occurrence. Real estate consultants and property owners who fared well during this period will look back on it as one of the most extraordinary of real estate periods. What follows this stage is referred to by a number of names including: Peak or Slowdown Often you have an affordability issue related to the preceding boom, the consequences of an oversupply of property and the sense that a change is on its way. This is evidenced by longer days on the market, altered auction clearance rates and buyers proceeding with caution rather than abandon. Trough or Slump Next, it’s the turn of the ‘Trough’ or ‘Slump’, as some have called it. This is just what it feels like; there’s a greater swing towards the needs of buyers rather than sellers. Prices are also adjusted, usually, but not always, down and confidence ebbs, though not necessarily for buyers. They can actually feel empowered by the changes, but there’s a warning required here. Let’s skip to Tony Alexander, a wellknown, now independent, economist who referenced what’s happening for first-home buyers in a recent article. “Things may be changing very quickly amongst first home buyers and if you have a misplaced focus on getting your first housing asset at the bottom of the price cycle rather than your first owned home then the clock is ticking against you.” “The housing cycle is moving towards a preparatory phase for turning back upwards.” Recovery And this moves us towards the fourth stage of the property cycle, ‘Recovery’. With spring here, we are noticing more confidence, busy auction rooms, better clearance rates, higher open home attendances. Who knows where it will go. If you’re a buyer, you’ll have a different agenda to sellers, if you’re a realtor you’ll have a foot in a number of camps, and if you’re an old head like me you’ll just keep moving forward. Every market has its winners; I happen to think it’s currently more of a balanced market. It’s not the dizzy 2021 extravaganza, but there are great properties available, owners are looking at things with a more realistic lens, and 29 years of experience have taught me it’s about getting the property you want. Don’t wait to confirm the recovery phase is on its way. Now is the time to rethink your plan. Do something and make the most of the property cycle you find yourself in. Lynette McFadden Harcourts gold Business Owner 027 432 0447 lynette.mcfadden@harcourtsgold.co.nz PAPANUI 352 6166 | INTERNATIONAL DIVISION (+64) 3 662 9811 | REDWOOD 352 0352 PARKLANDS 383 0406 | NEW BRIGHTON 382 0043 | GOLD PROPERTY MANAGEMENT 352 6454 GOLD REAL ESTATE GROUP LTD LICENSED AGENT REAA 2008 A MEMBER OF THE HARCOURTS GROUP www.harcourtsgold.co.nz
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