03 Magazine: February 08, 2023

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12 Magazine | Newsfeed Newsfeed What’s up, in, chat-worthy, cool, covetable and compelling right now. A taste of Mexico Lucky Wānaka has just been blessed with yet another incredibly cool, chic and delicious eatery in the form of Paloma, which you’ve likely seen popping up on your social feeds with its curvy forms and lush rosy hues. The third venture of James Stapley, executive chef and owner of lauded local establishments kika and Arc, Paloma’s remit is to make the best tacos possible, using New Zealand ingredients (right down to tortillas made using Kiwi corn). There’s also the must-try signature grapefruit tequila cocktail the taqueria is named for. palomawanaka.co.nz Covetable collab When two of our fave Kiwi brands collaborate, you can count us in, and this heaven-scent (pun intended) candle created by fashion label Shjark and fragrance atelier Arc is going straight on the wishlist. Designed to encourage slowing down and incorporating ritual into your day, the bespoke, locally blended scent, Ambré, has notes of mimosa, tobacco flower, iris and cedar with an amber heart. Crafted by skilled local artisans, each glass is hand poured and can be repurposed when empty. arcatelier.co New show added Those despairing that they had missed out on tickets to iD Dunedin’s spectacular fashion show at the historic railway station will be thrilled to learn a second show has been added after the Saturday night event sold out super quick. The new show will hit the runway Friday March 31 and will also include the International Emerging Designer Awards winner announcements. Tickets come with a drink and access to iD’s exclusive digital goodie bag and programme, and attendees can also add food boxes, provided by iD’s hospitality partner Vault 21, to their ticket, to be delivered to their seats on arrival. idfashion.co.nz
New Year New Opportunities Welcome to 2023: a year that, like its recent predecessors, will have its very own signature. That combination of continuing market changes (think price), challenges (think interest rates plus inflationary pressure) and beauty (or opportunity, as I like to call it). I’m curious about the year ahead. We have an election, always interesting, given its potential to hamper major decision-making at both an individual and a national level, and we have that vacuum created when everyone is trying to pick the bottom of the market and the likelihood of an upswing. Which, I might add, will eventually happen, as it has every other time there’s been a slump in activity – repositioning, as some industry experts like to describe the current market. Last year, at about this time, I looked at my very old and battered crystal ball hoping for some sort of insight befitting my now 29-year tenure. I noted that experts were at odds, with opinions that ranged from a 4% decrease in prices across the board to others thinking that the astronomical gains of the 2020/’21 period could continue. In retrospect, it looks like no-one realised the depth of the correction we would go on to experience – or the level of zeal the Reserve Bank would bring to the country with its ‘stop spending’ and ‘beware the property market is unsustainable’ mandate. Frequent increases in our OCR levels, interest rate rises (with more to come) have all but brought to a halt that runaway horse we were riding, one which had indulged itself on huge increases in property values, cheap money and eyewatering auction clearance rates. So where are we going? A lot of the dialogue is once again mixed, so maybe rather than look at data (which can be confusing no matter how experienced you are) I’d prefer to look at opportunities that are being created. I’m thinking about you, buyers! You are the lucky ones in this orbit of the marketing cycle. Do not squander your chances while standing on the side-line thinking, I’ll wait it out, I’ll squeeze every last ounce of opportunity out of the seller. You have so much on your side, especially choice, that most exquisite of factors which over the last few years has been such a rarity. There are large numbers of properties on or coming to the market. On December 19th, 2022, there were 1,917 Christchurch homes for sale. Owners are also more educated as to prices now, many doing their best with both their presentation and their negotiation opportunities, and you, our dedicated buyers, have the chance to lock in your interest rate. Make the decision to buy and get on, or further up, the property ladder, because you certainly have that chance. It’s perhaps a fact of human nature that even when you have everything you could possibly want, you’ll still go for more. That’s the dilemma I’ve seen with some buyers as they challenge prices, even those that are vastly reduced, whilst insisting on extra chattels to be included in the sale. Rather than the property, we’re talking fridges, spas, trampolines and cushions. But there’s a flipside here. Recently (January 5th, 2023), CoreLogic noted that although there’s been a nationwide drop in prices, slowing in December, Christchurch bucked the trend (the only main centre to do so). Here’s the clincher: Christchurch is an incredibly affordable city with attractive lifestyle options, so despite everything that’s happening we are still fortunate here. With that, I’m keen to make the most of what’s ahead. I’ve planned a massive year prioritizing health and wellbeing, doing great business and hopefully getting out of my comfort zone. Is this the time to get out of yours? 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 | SPITFIRE SQUARE 662 9222 | 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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03 Magazine: February 08, 2023

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