Auckland’s CBD is different from any other place in Auckland or in New Zealand. It is the most vibrant part of our country, and is truly an international city.  When you think of people who live in apartments in a city centre such as Auckland you might think young, hip, always on their phone, rushing around, business people. Thing are fast paced and just walking down the street is somewhat of a rush. In many ways this is true, but for Auckland’s CBD things are much more diverse.

Our first question is ‘Who is a typical CBD dweller?’ For one, they are most likely to be in the 19-24 age bracket, living alone in rented accommodation that is almost certainly in an apartment block.  A high proportion of CBD residents are young and single, they will not have children, and will live alone or with one other person. They are less likely to own a car and will usually walk to work.  Auckland University is located in the CBD and has a significant effect on demographics.  37% of the CBD’s residents are full time students.

The average CBD dweller is 26 years old, and 60% are aged between 15 and 39. By contrast the very young, the middle aged and elderly are under-represented. In both 2001 and 2006, the University and Constitution Hill had the youngest age profiles in the CBD. In 2006 the Upper Queen Street area also had a younger age profile, as did K Rd. In contrast, the Viaduct Harbour, City Waterfront and Britomart areas had older age profiles in 2006. The gender balance is almost equal. Of significance is the fact that 66% of residents were born overseas, with nearly 47% being Asian ethnicity, and 43% European. Very few Maori and Pacific live in the CBD.

The population of CBD experienced huge growth in the 20 years up to 2006. The last census figures counted 17,937 living in the CBD. Now there are an estimated 25,000.  There were 8,289 dwellings in the CBD, more than double the number in 2001, so this figure, too, has climbed in recent years.  Clearly, it’s an area of expansion and development as people are drawn to the attractions and benefits of living right in amongst it all – restaurant, big business, civic centres, the arts, the university, the parks and downtown – the list goes on.

Interestingly, those living in the CBD are better qualified as a whole, with only 4% saying they had no qualifications. 24% have a tertiary degree. However, with such an important proportion of residents being students, the median income is not even $20,000. The University, Upper Queen Street and Vincent Street areas have higher shares of households (33, 30, and 25% respectively) than the rest of the CBD.  This is not to say that Auckland CBD is just for youth.  Far from it, as the quality apartments in the Viaduct, Britomart and Arena areas would attest to, attracting a wealthier and older demographic.  And as a whole, residents are well educated.  It’s a bright bunch in the city!

Many international students choose Auckland as a destination because of the size and diverse population. The CBD is particularly attractive because of Auckland University, AUT University, many English language schools, and private training establishments.  In the mid 1990’s, the New Zealand government, and many secondary and tertiary institutions undertook a concerted effort to promote New Zealand as a destination for its international students. By 2003 there were about 120,000 international students, a whopping number for a small country like New Zealand. It was also claimed that international education was New Zealand’s fourth largest export earner.

Looking into the future with an increasing CBD population, more residential properties will be encouraged, complemented by a network of parks, squares and plazas stretching from Victoria Park, over the ridge to join other public open spaces in the CBD. The CBD will contain a lively mix of business, education, residential, recreation and cultural activity. Development and urban design will be high quality and sympathetic to the city’s history and natural environment. Open space in the CBD will be protected and enhanced, and streets will be upgraded and maintained to international standards.

Auckland’s CBD is undoubtedly New Zealand’s most exciting place. It offers something for everyone and will only get better with time. CBD apartment lifestyle is certainly desirable and attractive, and as we go into the future it will become a more and more popular way of living.

Sometimes it can be a bit hard to understand all the documentation surrounding buying an apartment.  All that legal speak can be confusing and time consuming to figure out.  What does this stuff mean: stratum estate, unit title, common property, body corporate, unit entitlement?

‘Unit Title’ is commonly used to describe the of ownership of an apartment however it isn’t a phrase that is used in the legislation.  Its legal description is a ‘Stratum Estate’.  This is ownership of the unit but is also goes on to include more than that like shared ownership of the common property and recognition of the notion that if the legal set-up for the unit development is ever cancelled, a right to co-own the property remains.

‘Unit Entitlements’ are calculated based on the value of your unit compared to the other units.  They are only assessed once – when the development is first completed, and then they remain the basis on which your share of costs is calculated for the life of the building.

The ‘Body Corporate’ refers to everyone who owns a property in the development.  The owners might in turn appoint a body corporate Secretary or Manager to assist with the management of the development.

‘Common Property’ means any property in the development that is not a principal, accessory or future development unit.

• What are you buying? (Look at the unit plan and make sure that the unit that you think you’re buying is actually the one that the contract refers to.  Also look at the carpark, storage and access areas to make sure that the right units are described).

• Is the unit is freehold or leasehold?

• What easements or restrictions impact on use of the unit? on use of the common property?

• Have the rules been properly created.  That is, are they lawful?

• What is the unit entitlement that attaches to the principal and accessory units.

• What will happen if the unit plan is ever cancelled and what rights do others have to change the property or your use of it?

• What obligations go with the purchase of this unit?

• Read the rules and make sure you can live with these rules.

• View the budget and understand your financial obligations.

• Are there significant expenses anticipated for the future?

• View all minutes of the body corporate and fully understand the issues that has arisen.

• Understand your voting rights and the obligations that go with them.

• Who manages the development and how well do they do it?

• Does the manager live onsite?

• Is there a sinking fund and is that adequately used?

• Is there a long term maintenance plan?

• Are all the other owners paying their levies?

• How are decisions made that affect the development?

• Have all code compliance certificates issued?

• Does the LIM record anything of concern?

• Is a current building warrant of fitness required? Is it on display?

When looking for a new property using the internet or an estate agent, the word leasehold is likely to appear often in property searches. Many buyers don’t understand what a leasehold is, how it works or the rights it gives and the responsibilities that it entails.

For those people who are buying, or are considering buying, a leasehold it is essential to know exactly what a leasehold means.

WHAT IS A LEASEHOLD PROPERTY?
Leasehold apartments may be in situated in purpose-built blocks, converted houses or as part of commercial or retail premises.

Leasehold ownership of an apartment fundamentally means a long tenancy – the right to own, occupy and use a flat for a long period known as the ‘term’ of the lease.

This can be for between 99 – 999 years; and the apartment can be bought and sold within that period. There are ‘long’ leases and ‘short’ leases, referring to the number of years left on the lease.

From the outset of the lease, the term is fixed, and decreases every year. At the end of the lease, the apartment is returned to the owner of the building.

Technically, even whilst a leaseholder owns the lease on a property, the owner of the freehold retains ownership of the external and structural walls, as well as any common parts of the structure. The owner of the building is also responsible for the maintenance and repair of the building.

Leasehold properties may be owned by either individuals or companies, and sometimes by housing associations or local authorities. Often, leaseholders purchase the freehold of the building in which they live by creating a residents’ management company.

WHAT IS A LEASE?
In the eyes of the law, a lease refers to a specific contract that exists between the owner of a property and a leaseholder that provides the latter with conditional ownership for a fixed period of time.

Leases are extremely important documents, and both parties should keep a copy of the agreement and make sure that it is understood. Leases are usually worded in legal jargon which can be hard to understand without taking advice.

Leases lay out in certain terms the contractual obligations of both parties. This will include what the leaseholder has to do, and what the landlord has to do. The lease will set out what the leaseholder’s obligations are, as well as any restrictions and conditions regarding the property. Usually, the landlord is required to maintain and manage the structure of the property, as well the outside and any common areas.

Leaseholders may not be totally free to do what they wish to in or with the leasehold property. The lease itself has its own conditions, to protect the rights of all those with an interest in the building.

When an apartment is sold, the seller passes all the rights and responsibilities of the lease to the purchaser, including all future service charges that have not been identified.

WHAT IS FREEHOLD Vs LEASEHOLD?
Freehold means the land on which the Apartments are built is owned and you have a share in that ownership. Leasehold means the land on which the complex resides is not owned outright but is leased (eg. rented) from the owner for an agreed term.  There will be an annual rent associated with leasehold property. There are a number of different types of lease and you should request details from the Salesperson regarding terms, conditions, annual rent charges and rent review dates.

Leasehold land is predominantly situated adjacent to and around the City waterfront area and some lower parts of Parnell and lower Anzac Avenue.

ENLIST ROOMS FOR DOUBLE DUTY
Estimate how often you use each room in your home for its intended purpose, and turn the room that gets the least love into a multifunctional space.

MAKE THE MOST OF ‘FORGOTTEN SPACES’
If there’s a wasted corner, pass-through, nook or niche in your home, turn it into something functional. Add a slim table or wall-mounted countertop to that odd little space off the living room or the bedroom, and stash a set of roll-away drawers underneath for files and mount a few shelves above for books and other supplies. Voila – instant office nook. Likewise, consider giving purpose to the spaces beneath eaves or open stairwells, between window bays, along hallways and even inside closets.

CREATE ROOMS WITHIN ROOMS
Use rugs to define and unite different areas of a room, anchoring a seating arrangement with a large rug and setting off an adjoining dining area with a smaller one. Color and texture can also define a dining or work area within a larger room. You might paint the wall behind your living-room work zone an energizing lime green, for instance, and keep furnishings and other surfaces smooth and glossy. In the living area, use a more restful wall tone and cushier textures to invite relaxation and to indicate a subtle shift in function.

STRIVE FOR STYLISTIC UNITY
Stick to a unified vision for an entire room. A cohesive color palette, design style, wood tone or fabric can pull everything together and preserve a sense of spaciousness in a room that serves multiple functions. Look for furnishings that allow rooms to transition from one function to another: a coffee table that raises to dining height; a lidded ottoman that pulls quadruple duty as a coffee table, footrest, storage bench and extra seating; a shapely stool that also serves as a side table; a daybed or flip-down couch that functions as everyday seating and an occasional sleep spot.

THINK SMALL & SCALED BACK
Simple, modestly sized pieces leave more room for multiple zones than elaborate, oversize furnishings. Opt for a love seat with clean, modern lines coupled with a pair of compact armchairs instead of a mammoth sectional or a set of sofas with space-hogging rolled arms. Go for tables, bookshelves and other furnishings with slim, compact footprints, too.

USE YOUR WALL SPACE
Stretch bookcases, cabinets and open shelving to the ceiling to supersize storage space and visually enlarge a room without cutting into its footprint. Vertical storage also helps maximize floor space, so affix slender shelves or display cubes to walls instead of using floor-hogging furniture, and don’t overlook the storage potential above a door or a window, which can be a perfect spot for a substantial shelf.

BUILD IN FUNCTIONALITY
If you’re planning a kitchen remodel or are ready to spring for custom carpentry in another room, try to incorporate an integrated work surface or sleeping space into your plans. It can be something as simple as a deep shelf at table height that you can pop a laptop on and pull a chair up to, or it can be as elaborate as a built-in desk or sewing niche with drawers below and storage cabinets above.

DRESS UP UTILITARIAN FIXTURES & FURNISHINGS
Devise clever disguises for unsightly but essential fixtures such as a water heater, utility boxes, a washer and dryer or a mountain of computer equipment. Hang a homemade art canvas in front of an electrical panel or fuse box, or use a folding screen to cordon off a utility area. Hide the washer and dryer behind a curtain or a set of bi-fold doors. Or drape decorative cloths over office equipment in a guest room when visitors come to stay.

LIGHT THE WAY
Adequate and adaptable lighting for different activities in different areas is essential. In an all-in-one great room, for instance, the cooking, dining, work and relaxation areas should all have independent illumination in the form of overhead and accent lighting, along with task lighting where necessary. Put lights on dimmers so you have strong illumination when you need it and soft lighting when you want it.

DON’T BUY TOO SMALL
Just as you want to avoid furniture that’s massive and overstuffed, avoid furniture and accessories that are too small. Even in a tiny space, it’s important to consider functionality and good looks. To make a realistic furniture plan, use masking tape on the floor to lay out the ideal size of each piece, and then buy.

COMBAT CLUTTER WITH HIDDEN OR ATTRACTIVE STORAGE
If you’re lucky enough to have a closet or a pantry, invest in an organizing system that will use every available inch out of those spaces. If you’re not, spring for furniture that will house all your needed supplies in style. Coffee tables, ottoman pieces and other double-duty items offer hidden storage options. And attractive baskets, bins and cloth-covered boxes on shelves or in cubbies keep everyday supplies handy without adding visual clutter.