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city fringe FLYER

New mortgage rules make it tough but good things dont come easy
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ESERVE Bank moves to tighten rules on bank mortgage levels will hurt first-home buyers, but may make things easier for other people chasing a new home. From the beginning of this month, banks have been required to severely restrict mortgages where customers have deposits of less than 20 per cent of the value of a home. The step is designed to protect banks from the risk of widespread default if economic conditions deteriorate, and the Reserve Bank hopes it will also take some of the sting from rising values. Anne Duncan, principal of Anne Duncan Real Estate, doesnt think the new rule will have a major impact on prices, though she says it will certainly shut out some firsthome buyers. Unfortunately, it will hit some people quite hard, especially those on lower incomes who will now have to save a six-figure deposit to buy a quite modest home in Auckland, she says. Previously, a couple in average jobs might have been able to save $30,000 or $40,000 and use it as a deposit on a $450,000 or $500,000 house. But now theyll need $90,000 or $100,000 to get in the door. Anne can see the 80/20 rule removing lots of people from the market, but investors and high-equity buyers seeking their second or third home will take up the slack.

mountain to climb. But Anne is a paid-up member of the no pain, no gain school of thought. While she has great sympathy for young couples battling to buy their first home, she wonders if some people are prepared to make the sacrifices of their parents and grandparents. Look, I know its hard to get into that first home harder now than it used to be, and I really feel for young couples who are struggling to make ends meet. But a lot of young people earning good money also reckon its impossible to buy that first home and Im not so sure about that. Anne says avoiding the temptation of flatting and instead staying home with supportive parents is a good start to building a deposit; and doing without a daily latte, taking your lunch to work, staying in on Saturday nights and skipping restaurant meals and trips away will also help. Devising a savings plan and sticking to it reaps rewards, she says, and the sacrifices will soon produce the dividends. But when its time to look for a house, set aside wild ambitions to buy in Ponsonby or Parnell and choose a more modest outer suburb. We all have to start somewhere, says Anne. Make those early sacrifices and theres a good chance youll eventually end up where you want to be. As an example, she points to a

41 Seaview Tce
MT ALBERT Auction, 7pm Wednesday 23 October 2013*
1920s character bungalow in original condition, with two double bedrooms, separate dining, ornate beams & timber panelling. On 511m2 grounds.

Make those early sacrifices and theres a good chance youll eventually end up where you want to be

- Anne Duncan

Emma Duncan 021 845 347

So whats frustrating for newhome buyers will be to the advantage of others because it will mean less competition, she says. But low listings and high demand means that wont translate into lower prices. With Mt Albert entry-level prices between $420,000 and $500,000 for a two-bedroom unit and not much less in suburbs like New Windsor, Owairaka and Avondale putting together that $85,000 to $100,000 deposit will be tough for many. The $130,000 to $160,000 deposit now needed for a standalone house on a half site valued between $650,000 and $800,000 is an even bigger

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18 First Ave
KINGSLAND Auction, 7pm Wednesday 23 October 2013*
* Unless sold prior

Alice gets ready to rumble on Waterview link

S we eat, sleep and get on with our lives, Alice will soon be rumbling away beneath our feet to help make our city a little more liveable. The Waterview Connections $55m giant tunnelling machine affectionately named after Alice in Wonderland is poised in Mt Roskill to create the first 2.4km southbound tunnel on the project linking the

This wonderful 3 bedroom villa will turn heads. Open plan kitchen, lounge & dining are perfect for entertaining. Cafes, bars & shops are just a stones throw away.

Jamie Morrison 021 684 400 Emma Duncan 021 845 347

North West Motorway with the South West Motorway. Half the link will be underground and traffic will start using the route by the end of 2016 allowing a city bypass motorway route from the west and north-west to the airport and southern suburbs. Alice, which can create a 14.4m diameter tunnel up to 17m long a day, not only digs the tunnel with

her circular cutter head full of blades and discs but also lines the hole she has dug with concrete segments, completing the process all in one go. From next month she will work 24 hours a day, and spoil from the tunnels will be removed by a continuous conveyor belt, more than 6km long once it is linked to the worlds 10th-biggest tunnel boring machine.

09 846 9470


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Anne Duncan Real Estate Ltd

You see our signs everywhere!

23 Tasman Ave, Mt Albert $890,000 Vincent Barnao

The team
Anne Duncan 021 996 426

Your advantage

14 Leone Tce, Mt Albert $1,051,000 Kerry Glengarry

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82 Kelman Rd KELSTON
1920s character bungalow in original condition, with two double bedrooms, separate dining, ornate beams & timber panelling. On 511m2 grounds.

Julia Rust 021 489 169 By Negotiation

2/158 Hendon Ave MT ALBERT

Recently refurbished, spacious 3 bedroom unit with great flow to fenced outdoor area. Excellent city fringe location handy to motorways, shops, transport & UNITEC. In MAGS school zone.

Wendy Keats 021 2167 332 By Negotiation

12/698 New North Rd, Mt Albert $360,000 Wendy Keats

Greg Whitta 021 992 612

John Covich 021 946 933

Vincent Barnao 021 275 8925

Gary Agnew 021 960 533

Jamie Morrison 021 684 400

2 Kelvinside Tce, Avondale $630,500 Greg Whitta

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Mark Bailey 021 714 799

5/5 Wesley Ave, Mt Albert $532,500 Jamie Morrison

Emma Duncan 021 845 347

Wendy Keats 021 216 7332

Julia Rust 021 489 169

Theo Thrasy 021 0277 6517

5 Caughey Pl, Mt Albert $850,000 John Covich

7/16 Knight Ave MT ALBERT

Renovated second level cutie with sun filled living, mod kitchen, large bathroom, 2 good size double bedrooms & a sunny terrace for bbq & deck chairs.

John Covich 021 946 933 Auction: 7pm Wed 23 October 2013*

2/19 Jason Ave SANDRINGHAM

Well presented 1970s brick & block 2 bedroom unit, (1 of 5) with open plan living. Carport & storage cupboard.

Emma Duncan 021 845 347 Auction: 7pm Wed 6 November 2013*

Kerry Glengarry 021 977 670

Mo Li 021 171 6366

Des Ryder 0274 222 334


Shane Ryder 0274 222 585


Hazel Hokianga 021 896 425


2/107 Gowing Dr, Meadowbank $590,000 Greg Whitta

746 New North Road, Mt Albert, Auckland Ph 09 846 9470

1/40 Haverstock Rd, Sandringham $475,500 John Covich

* Unless sold prior. The Anne Duncan Real Estate Auction Centre is located at 746 New North Rd, Mt Albert.

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5 Methuen Rd AVONDALE
1930s 3brm weatherboard bungalow on 1021m2 section. Potential to subdivide. In zone for Avondale College, New Windsor & Owairaka schools.

Julia Rust 021 489 169 Auction: 7pm Wed 6 November 2013*

28B Asquith Ave MT ALBERT

1990s cedar 2 storied home featuring 5 bedrooms and 2 bathrooms. In zone to MAGS, Marist College & Gladstone schools. Close to train & bus.

Julia Rust 021 489 169 Auction: 7pm Wed 6 November 2013*

23 Asquith Ave, Mt Albert $1,400.000 Anne Duncan

For an obligation-free appraisal of your home, fill out this slip and drop/post it into our offices: 746 New North Rd (opposite Rocket Park). Well make contact after that. Your name Address

What best describes your position? (tick)

Keen to sell now/soon Need appraisal before making up my mind Simply interested in what my house is worth

12 Raetihi Ave, Mt Albert $920,000 Anne Duncan

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46 Asquith Ave, Mt Albert $1,220,000 Anne Duncan, Gary Agnew 2/789 New North Rd, Mt Albert $461,500 Anne Duncan, Wendy Keats

29 Trevola St NEW WINDSOR

1970s bungalow with mod kitchen & bathroom, semi open plan living, sun drenched decks & double garage on 610m2 fully fenced north facing site.

John Covich 021 946 933 Auction: 7pm Wed 6 November 2013*

72 Bollard Ave NEW WINDSOR

Handsome 3 bedroom, 2 bathroom bungalow on an elevated 1011m2 (Res 5) section. Great renovation project with option of potential sub-division.

Mark Bailey 021 714 799 Auction: 7pm Wed 20 November 2013*

City Fringe Flyer is a community newsletter and readers should seek professional guidance before acting on any advice, opinion or information found in its columns. It is published by Anne Duncan Real Estate Ltd, which cannot accept any liability or responsibility for any loss or damage suffered by any individual or group acting on any material it contains. Editorial inquiries:

In the business world, the rear view mirror is always clearer than the windshield (Warren Buffett)

I dont care what is written about me so long as it isnt true (Dorothy Parker)

You see our signs everywhere!

city fringe FLYER

Auctions the answer as listings stay low
Properties in the Anne Duncan Real Estate patch are continuing to achieve terrific prices, stoked by a lack of listings and high demand in the city fringe region. Auction is the sales method of choice and has produced some startling results. The companys auction clearance rate to the end of September stood at 95 per cent, with most properties selling in pre-marketing campaigns or under the hammer. Auction is definitely the way to go, says Anne. The only thing holding us back from even better results is the lack of listings.
HE growing status of Mt Albert Grammar School as one of the countrys best has been enhanced by scholarship results for the 2012 year. MAGS students received 78 scholarships, putting the school at number five spot, immediately behind Auckland Grammar (85 scholarships); and MAGS stepped up to number four-equal spot on the list of schools where pupils were awarded outstanding scholarships, winning a total of 14. The following students were awarded three or more scholarships or at least one outstanding scholarship and their names are to be inscribed on the school honours board for scholars: Max Ashmore, Matthew Battley, Taliesin Budvietas, Alexandra Crawford, Samuel Davis, Daniel Dillon, Edward Hughes, Joshua Moody, Natasha Nipper, Ayumu Ozawa, Timothy Rutledge and Dhanasit Srijamorn. change in the way the police serve communities focusing on prevention rather than reaction - is expected to have a major impact on crime. A community constable is no longer based at Mt Albert (the office has been taken over by Neighbourhood Support, with direct links to the police on non-urgent matters), but the lack of a local officer doesnt mean the areas been down-graded. In fact, the long arm of the law will become more effective. In the past, the community constable was often unavailable because of other responsibilities. But a new policing system - designed to meet the Governments demand for a 20 per cent cut in crime has created dedicated teams with special responsibility for local communities. Rather than one officer looking after the patch part-time, Mt Albert now has two teams (each with seven officers) building up their knowledge of the area and ready to act on any problems. More uniformed officers (equipped with latest technology like iPads) on the street and in patrol cars with an eye out for trouble are promised from police bases at Avondale and Ponsonby and already theres been an impact on disorder like intoxicated people and juvenile misbehaving. Sergeant Geoff Medland urges local people to dial 111 whenever they see potential trouble, no matter how minor it may appear. And if you have an ongoing issue causing concern, email the team at

Town square plans aimed to help rejuvenate village shopping strip

HE first step towards returning the Mt Albert village shopping strip to its glory days has been taken with the securing of a long-term lease on land designated for a new town square. The square will grow out of a car park at 911 New North Rd directly across from the new concourse leading to the upgraded Mt Albert railway station. Auckland Council and the AlbertEden Local Board have negotiated the lease deal and the first move in developing the patch will be a ramp to the concourse, connecting the centre to the station, which will be in place next year. In the meantime, the board will consult with the community for ideas on how to turn the barren area into an attractive square that could be the catalyst for a rejuvenated town centre. The local body elections may change thinking, but present board chairman Peter Haynes is confident the new board will give everyone a say on the final shape of the village square. Dr Haynes notes that the people of Mt Albert have fallen out of love with the town centre. This is the first step towards recapturing some of Mt Alberts former glory. Asked what the square might look like when its completed, probably later in 2015, he says: That really is up to the people of Mt Albert. A decent budget has been allocated to the project, and good seating and planting of flower beds and appropriate native trees will be prominent on many lists, along perhaps with some public art. Already local people are coming up with ideas and a more formal consultation process will be unveiled by the new board.

Mo Li

A chat with...

What would others say about you? That Im funny, handsome, kind, tall and always smiling! Virtues and vices? That Im honest, and perhaps that I play too many computer games! What brightens your day? My little boy I just love the way he is growing up before my eyes. What really annoys you? My dad, who keeps rattling on talking nineteen to the dozen! But I couldnt do without him hes a great support. The thing youve always wanted to do but havent yet cracked? Id like to learn to swim and to dive, and I must do that. One thing youve learned about life and will take to the grave? Life is not perfect. As we go along and make mistakes, its important that we learn from those mistakes. Who do you look up to who inspires you? My good friend Peter who taught me how to live life. Who from the past or present would you get to share the dinner table of your dreams? Id invite my colleagues and friends, but it would be great to have a group of wonderful New Zealanders like Sir Edmund Hillary to join us. My favourite food: Seafood; tipple: I dont drink alcohol its milk and fruit juice for me; TV programme: The Late Show; movie: Iron Man; song: Smooth (Santana and Rob Thomas) Mo Li was born in China and immigrated to New Zealand 13 years ago as a 20-year-old. He lives in Mt Albert with his wife Vicki and son Buffett, and recently joined the Anne Duncan Real Estate residential sales team.

New loan rules put squeeze on first-home buyers


young couple who bought in Mt Albert at the height of the last boom. They were not in well-paid jobs, and they scrimped and saved and went without to buy a unit at $308,000, selling it three years

later for $365,000; then they bought a house in New Windsor for $450,000 and have just sold it for $730,000 now ready to take the next step up. That couple wanted their own home and were prepared to make the sacrifices and they paid for their wedding and had children

along the way. But after those tough six years or so, they are now pretty well set up. Some people today who complain they cant afford a first home in a fancy suburb might like to think about thatof course its hard, but good things dont come easy.

Those are my principles, and if you dont like them... well, I have others (Groucho Marx)

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