News and Publications

Property News - 29 September 2020

Property investing no ‘free ride’

Riding the sharemarket was Harry Pearson’s investment scheme the moment he began working in his teens but continuous recessions motivated him to diversify his investments, adding property to his repertoire.

The self-employed Nelson man has built up a portfolio of five properties in the Nelson region over the past 12 years, including his own home. But property investment was ‘‘not a free-ride’’, short-term moneymaker, he said. His cashflow ‘‘flatlines or negatives’’, he said, having to top up the mortgages.

(Nelson Mail, Monday 21 September 2020)

Home, sweet shared home

From the dining room table there are million-dollar views over a tranquil bay.

It’s a magical backdrop to a little bit of magic that happens around the table most nights as four friends share a meal.

Welcome to co-housing, or as Kerry Sunderland describes it ‘‘flatting for grown-ups’’. This flat just happens to be a large home in a sought-after coastal community near Kaiteriteri.

In legal terms, the four are tenants in common and had a simple agreement drawn up. If either party wants to leave, the remaining party has the option to buy them out or failing that, the house will be sold. For any major disputes there is a process involving an independent mediator.

The four are hard-pressed to come up with an example of something resembling a dispute – the best they can do was the dinnertime behaviour of one of their dogs but that was quickly resolved. Steve believes there is co-housing potential in many Nelson homes, particularly those with large downstairs areas that could be converted.

(Nelson Mail, Wednesday 23 September 2020)

Intensification action plan adopted

Nelson has adopted a new action plan to encourage intensification not just in the city centre but in new greenfield developments.

The plan is a ‘‘guiding document’’ for various Nelson City Council plans and strategies ‘‘to accelerate a change in housing supply towards intensification’’.

It was accepted by the council at a meeting on Tuesday. As it is an operational document, public consultation is not required.

The plan mirrors the Tasman District Council’s earlier announcement of its own intensification plan, developed as part of the Nelson Tasman Future Development Strategy (FDS).

It is planned in the FDS for 60 per cent of projected growth in the city over the next 30 years to be accommodated by intensification inside the Nelson Urban Area, which includes Richmond and Hope as well as Nelson City.

(Nelson Mail, Friday 25 September 2020)

Accommodation Sector wants level playing field for rentals

Councils are being urged to create an ‘‘equal playing field’’ for Airbnb-style rentals and charge them commercial rates.

Nelson became the latest battleground this week in a national campaign to bring absentee owners of Airbnb-style short-term rentals under the same rules as commercial accommodation providers.

At a Nelson City Council meeting on Tuesday, about 30 providers turned out to support a presentation from Hospitality New Zealand.

Hospitality NZ chief executive Julie White spoke about the organisation’s efforts to effect change from central government, while Nelson accommodation sector chair Stacie Warren addressed the local situation.

Warren said the council was missing out on more than $1 million every year in unpaid rates, with many of the properties for short-term rental falling under commercial rather than residential definitions.

(Nelson Mail, Saturday 26 September 2020)

Seven big homes planned for central Richmond site

A first-time developer has plans for seven two-storey homes on a site that encompasses the corner of Queen and Oxford streets.

The development is under new rules that make the construction of more intensive housing in central Richmond easier.

Chris Satherley aims to redevelop two adjacent Oxford St properties along with an adjoining Queen St site, removing the three dwellings now on the land, and building seven detached two-storey townhouses, each one different to the others.

(Nelson Mail, Saturday 26 September 2020)

Workers break ground for new Countdown supermarket

Site works have started for a planned new Countdown supermarket at the northern entrance to Richmond.

Head of property Matt Grainger said Countdown was pleased to have been granted consent for the supermarket, ‘‘and we’ve now started earthworks and services installation on site in preparation for the main construction works, which will start soon’’.

The store is being built on land at the corner of Champion and Salisbury roads, adjacent to a busy roundabout that is due to be upgraded before the supermarket opens.

Tasman District Council transportation manager Jamie McPherson said tenders for the roundabout upgrade work closed on Wednesday. The project had an indicative construction cost of between $500,000 and $2 million, and the aim was to start work later this year and finish by mid-2021.

(Nelson Mail, Saturday 26 September 2020)

Comments
Eric McPherson Tuesday September 29 2020 11:00 AM
LOL, between 500k and 2m for a roundabout upgrade and 6 or so months to complete. I do love a good lough.