Latitude Magazine

Summer Colours

- AS WE SEEK COMFORT FROM OUR

Deep cocoas, silvered sages, ruby reds and deep sea blues are

some of the glorious tones that will join us this summer. Whether

our penchant for neutrals is taking a warmer path, with tones of chocolate, charcoal and deep taupe becoming firm favourites, such as the dusky Resene Rocky Mountain.

We are also seeing a contempora­ry twist on the recently revived ’70s palettes paired with milky whites such as Resene Double Merino and Resene Milk White.

For those with a love of rich colour, celebrate the complexity of the cocoa

you embrace the heat or seek sanctuary from the summer sun,

there are a variety of beautiful colours to suit your home.

hued Resene Felix and embrace its soulful red and violet base. Layer it with rich terracotta hues like Resene Sunbaked and anchor it with the deep Resene Rebel.

Resene Just Dance has been a popular choice this year and will continue into the summer months.

Its gentle blend of mango and apricot pairs effortless­ly with the warmer neutrals of the season. Contrast with deep, sophistica­ted ruby reds such as Resene Smoulder for a decadent approach.

median prices are heading up; it sure feels like a buoyant market out there, but does that mean we’ve avoided a COVID-19 downturn in the property market?

The reality is that although the property market is busy right now, if you take a closer look, all is not quite as it seems. There are lots of buyers out there, but the vast majority are in the essential services – those that kept working through the lockdown.

For those that are in retail, hospitalit­y or self-employed, it’s a different story. They’re getting by rather than getting ahead and their property goals are on hold because the banks are tightening up their lending criteria, making it hard to get finance if your income shows any impact from COVID-19.

Those in the tourism and aviation industries are doing it even tougher. Some of my clients have had to take a so-called ‘mortgage holiday’ – but it’s certainly no holiday and should only be a last resort. You’ll still have to make up the payments, eventually, and there’ll be additional interest charges. Under normal circumstan­ces, taking a break from mortgage payments – even when arranged through the correct channels – results in a negative record on your banking history. You can only do it once in your banking lifetime and it can mean being unable to obtain a mortgage in the future. These are not ‘normal circumstan­ces’, of course, so the Reserve Bank has instructed the banks NOT to make this record against anyone needing to take a mortgage holiday at the current time. The fact remains, however, that it’s a serious decision.

Some industries are booming right now. Building companies, banks, real estate agents, lawyers and accountant­s are busy and hiring. But other people are losing their jobs, so what does it all mean?

The Reserve Bank has expanded its Quantitati­ve Easing programme – a.k.a. ‘printing money’ – up to 100 billion and extended the timeline to June 2022. That means interest rates will stay low for the foreseeabl­e future and will likely go lower. The banks are preparing for the OCR to dip into negative territory and the Reserve Bank has a team working through the scenarios. This doesn’t mean that the interest rates at the banks will go to zero, but it does mean they’ll be exceptiona­lly low.

With interest rates at a virtual standstill and property prices going up, no wonder those that do have money on hand are withdrawin­g it from the bank and putting it into investment property right now – and that’s the real driver behind our current real estate boom.

My advice right now is to get into the market – if you can. With interest rates as they are, paying the mortgage for a property worth 450,000 is likely to be cheaper than renting. But play it safe and don’t borrow right up to your limit. After all, we just don’t know what’s around the corner.

Financial Adviser Nathan

Miglani explains what’s really

going on in the property market.

 ??  ?? Resene
Felix
Resene Felix
 ??  ?? Sage is a beautiful colour to surround yourself with as you seek sanctuary from the heat of the summer sun. Soothing sage hues such as Resene Peace and Resene Secrets pair effortless­ly with soft, whitewashe­d timbers, rich coffee browns and silvered greys.
Experiment with Resene FX Paint Effects and create a sage feature wall full of charm and depth. Start with a raw, Resene Resitex base and build up both deep and light shades of sage for an earthy escape.
Sleek and contempora­ry, wrap your bedroom or living room walls in Resene Fast Forward for a daring statement. Contrast with the regal
Resene Cleopatra on a feature door for an inviting approach.
Sage is a beautiful colour to surround yourself with as you seek sanctuary from the heat of the summer sun. Soothing sage hues such as Resene Peace and Resene Secrets pair effortless­ly with soft, whitewashe­d timbers, rich coffee browns and silvered greys. Experiment with Resene FX Paint Effects and create a sage feature wall full of charm and depth. Start with a raw, Resene Resitex base and build up both deep and light shades of sage for an earthy escape. Sleek and contempora­ry, wrap your bedroom or living room walls in Resene Fast Forward for a daring statement. Contrast with the regal Resene Cleopatra on a feature door for an inviting approach.
 ??  ?? Resene Peace
Resene Peace
 ??  ?? Resene Colour Expert Rebecca Long is passionate about the difference colour and paint can make to a home. If you have a paint, colour or wallpaper query, visit your Resene ColorShop for expert advice, or book an appointmen­t with a Resene Colour Expert online. resene.co.nz/colourcons­ultant
Resene Colour Expert Rebecca Long is passionate about the difference colour and paint can make to a home. If you have a paint, colour or wallpaper query, visit your Resene ColorShop for expert advice, or book an appointmen­t with a Resene Colour Expert online. resene.co.nz/colourcons­ultant
 ??  ??
 ??  ?? Years of experience mean Nathan Miglani knows how to give you the best possible chance of success with your mortgage applicatio­n. Passionate about helping you through the process of buying a home or business, he’ll find the best deal for your unique circumstan­ces. loanmarket.co.nz/nathan-miglani
Years of experience mean Nathan Miglani knows how to give you the best possible chance of success with your mortgage applicatio­n. Passionate about helping you through the process of buying a home or business, he’ll find the best deal for your unique circumstan­ces. loanmarket.co.nz/nathan-miglani

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