New REA website – recommended reading for property newbies

The Real Estate Authority (REA) recently launched a new website: settled.govt.nz.  It provides information useful for both property buyers and sellers new to the process in New Zealand. Written for the residential market, it takes an independent look at property transactions both from a financial and lifestyle perspective. The aim is to unravel what can sometimes…

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Bright Line Test extended from 2 to 5 years

NEW LEGISLATION: A new bill has been passed extending the ”Bright Line Test” for residential land to 5 years. The Bright Line Test was introduced as part of the Taxation Act 2015. It requires income tax to be paid on any gains from residential property that is disposed of within two years of acquisition, subject to…

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Report from the Property Council AlexanderDorrington Regatta

  It’s been a long wait between sailings so after a 10 year break, we were delighted to sponsor The Property Council’s regatta again. On Thursday15th March 2018, the sold-out event returned to Auckland’s Waitamata Harbour in its best form yet. At 3pm racing started. Both keel boats and multihulls competed over a course of…

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Property Council AlexanderDorrington Regatta 2018

We are pleased to announce the Property Council AlexanderDorrington Regatta is back!  The last time we were on the water for this Regatta was 10 years ago. Either bring along your own boat, or borrow one of the boats along with the skipper from the Royal New Zealand Yacht Squadron.  The afternoon will include a…

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Why you need to get your Will right

Holiday season and a new year gets many of us thinking about those important jobs we need to get to. If you haven’t already made a Will; you may want to add this near the top of your list.   A Will is one of the most important legal documents you ever put in place. However, many people…

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Settling SugarTree – a large apartment sell down

Time lapse video of our office on settlement day.   Bonnie Warburton’s behind the scenes glimpse at five crazy days.   Attempting to settle 270 apartments on one day is no easy task and not for the faint hearted. Whilst the pressure of the SugarTree settlement at times was enormous, the satisfaction at the end…

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Easing the way for drones

Commercial uses for drones   Dr Catherine Ball, is a world leader in the non-military application of drone technology. She highlighted some really important issues for property owners at The Property Council New Zealand National Conference in Melbourne13-15 September.   Firstly it’s important to note that there are all sorts of drone use beyond delivery…

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Future-proofing the legal design of subdivisions

There is a lot of discussion around the physical design of subdivisions and how that impacts the community that is created and the ultimate owners’ use and enjoyment of the land. The legal design is just as important.   Recent agreements I have reviewed for some new developments cause me concern as to what we…

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Is a 10% deposit reasonable ?

A deposit amount is a matter for negotiation between the parties. Whilst the customary figure is 10%, it need not always be the rule.   The Auckland District Law Society and Real Estate Institute of New Zealand Agreement for Sale and Purchase template (ADLS Agreement) provides that a vendor can retain a maximum 10% deposit…

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