David Penrose Real Estate Agent Queenstown

Welcome to my newsletter for November 2018.

With less than four weeks until Christmas it is almost officially the start of Summer here in New Zealand. The year is drawing to a close for us all and 2018 will be yet another year to remember and another chapter in our lives.

It has been a busy year in real estate and last month was no exception. The total volume of property transactions was up compared to the same time last year, with 81 homes, apartments and lifestyle properties changing hands throughout Arrowtown and Queenstown. According to the REINZ, The medium number of days to sell a home, apartment or a section in Queenstown last month was 61 days.  

For the Real Estate industry, New Zealand’s long awaited anti-money laundering laws are almost here.
These new laws have been designed to improve the country’s ability to tackle money laundering, terrorism and financing. I understand that government figures reveal about NZ$1.35 billion from the proceeds of fraud and illegal drugs is laundered through what many would consider “normal” local businesses every year. Isn’t this staggering?

The new laws extend to individuals involved in real estate transactions. For conveyancers, lawyers and accountants, the requirements came into force on 1 July 2018. So for myself the requirements come into force on 1 January 2019. This filters right down to anyone who is purchasing property, must meet a certain criteria. I now have a responsibility to carry out due diligence and formal verification to identify both vendors, and purchasers alike.

Can offshore purchasers buy a hotel unit, or an apartment, in New Zealand without applying for an OIA Consent?

If a person is purchasing a hotel unit in a complex of more than 20 units, provided you enter into a lease back arrangement with the hotel operator/developer and that the lease back arrangement is subject to various conditions – one of which is that the owner cannot occupy the hotel unit for more than 30 days per year, then this may be possible.

Alternatively if you are purchasing an apartment “off the plans” within a multi-storey development of 20 or more apartments,  then you can purchase without a consent providing the developer holds either an Exemption Certificate or an Transitional Exemption Certificate.
Singaporean and Australian citizens are eligible to purchase without the need to obtain a consent.

If you wish to seek further clarification on this topic, please contact me directly so that I can advise you accordingly.

What is a LIM Report?

Buying a home apartment or a residential section can be exciting, but it can also be stressful. It’s important to equip yourself with as much knowledge as you can about a property before making any big decisions.

A Land Information Memorandum (LIM) gives a summary of information that our local council holds about a property on the day the LIM was produced. A LIM is the most comprehensive property report available from a council, which is why it’s important for potential buyers to acquire a current one when purchasing a property. Alternatively, buyers can also make a LIM a condition to their purchase.

A LIM report contains useful information on a property that could inform your decision to buy, as well as help you to avoid future surprises. It can give you more information about a property’s history­­­­­, rates, flood or erosion risk and any consent granted for work done on the property.

If you are considering purchasing a property or selling a property in the Southern Lakes region , I would appreciate the opportunity to advise you, and discuss how I can assist you with your purchase, or market and expose your home, apartment or land like no other in New Zealand. 

My telephone number is+64 21 226 1507 alternatively my email address is david.penrose@nzsir.com.

To find out what other events are taking place in the Southern Lakes region, please don’t hesitate to visit this website Discover Queenstown

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A Good Nose For What Explodes

Queenstown might be a small resort town, but it has the second best explosives detector dog in the country, Toby. His handler, Aviation Security Service officer Andrew Buchanan, tells Joshua Walton about their special partnership and the growing need for bomb detection staff at Queenstown Airport.

Bomb detector dog Toby and his handler Andrew Buchanan have “put Queenstown on the map” with their success in a national competition to find the country’s top sniffer dogs. The Queenstown-based pair entered the National Police Patrol and Detector Dog Championships earlier this year as underdogs from the Aviation Security Service (Avsec), to challenge other explosives detection duos from across the country.

Mr Buchanan (53), of Cromwell, who has competed in the competition twice  before with other dogs, said Toby has “just got it”.
The pair was one of 23 teams from NZ Police, Customs, Corrections, Avsec and the New Zealand Army, taking part in three categories during the three-day competition — police patrol, narcotic detector and explosives detector.

“I know how stressful it is … we’ve only been operational for about one year,” Mr Buchanan said.
“The more and more you get out there and you do more training and go into high-risk areas, your dog gets better and better.
“So, you’re looking for that dog that has that one X-factor.”You’re going up with the best of the best, the police are doing it, Customs are doing it.”
Mr Buchanan said finishing in second place at the Upper Hutt event was “one of the highlights” of his year.
Toby, a 3-year-old German short-haired pointer and Labrador-cross, was one of three puppies Mr Buchanan had the choice of working with and training from scratch.
He took an early shine to his canine companion and the duo have gone on to show just how good they are at working together to sniff out danger.
The competition saw contenders take on a variety of search tasks, including dealing with a fake bomb threat in a car park and searching a quarry and theatre for explosives. Mr Buchanan said some of the tasks were like trying to find a needle in a haystack.
He and Toby faced challenges they would not normally take on or train for with Avsec, which many of the army or police dogs were better accustomed to. Starting out in the job 14 years ago, he said he has come to “build up a great rapport” with dogs by taking a hands-on approach.

“I see the dog section becoming a real plus in the fight against terrorism and keeping airports safe.
“We are fighting against people who are wanting to disrupt the travel of the public, so we need to just be one step ahead and train for whatever they are going to throw at us.”
Queenstown’s Avsec team is based in a building next to Queenstown Airport, which backs on the runway.
Avsec officers often use land around the site to train their detector dogs to get them used to different terrain and scenarios.

With the resort’s visitor population on the rise and increasing  number of flights at Queenstown Airport, Mr Buchanan said this presented an “increased risk” and demonstrated the need for an explosives detection team stationed nearby.
The airport has had a 33% increase in passenger numbers since 2015,  2,140,669  in the year ending June 2018, up 13% on the previous year.
International passenger numbers were up 12% to 596,276 and domestic passenger numbers rose by 14% to 1,544,393 during the same period.
Queenstown Airport Corporation’s public consultation on its proposals to extend the airport’s noise boundaries to allow for 41,600 flights a year by 2045, and double passenger numbers to 5.1 million, showed only about 4% of almost 1500 survey respondents backed the plans.
Mr Buchanan, who used to work for Avsec in Auckland, said “Queenstown is starting to get busy”.

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