Latest news with #VanessaRader
1News
12 hours ago
- Automotive
- 1News
Are you paying too much for parking in NZ's big centres?
You might be paying too much for your parking, new research suggests. Vanessa Rader, head of research at Ray White Group, said she was inspired to look at how New Zealand's car park prices compared, after conducting similar research in Australia. She found what New Zealanders pay for parking can vary dramatically, even within cities. She said, on average, the daily fee being paid in CBDs was $39.53 in Auckland, $37.83 in Wellington, and $32.60 in Christchurch. But Aucklanders could be paying anything from $12 to $80, Wellington from $15 to $50, and Christchurch $10 to $98. She said that the range within cities suggested that markets were "highly fragmented" and location, quality, and convenience made a big difference to price. ADVERTISEMENT In Australia, the difference between cities was much more pronounced than within them, she said. "People always think of Auckland as being the most expensive, but it's not wildly more expensive. "It's really location sensitive… if people want to be in certain locations, they're willing to pay that extra.. but if you're just someone that's commuting and you're happy to walk a couple of blocks you can get a much cheaper price and you're still definitely within the CBD." Rader said Christchurch had the most aggressive "early bird" discounts, at 48.97%. She said that suggested an oversupply or weaker demand fundamentals. "This mirrors strategies seen in other struggling markets where operators prioritise volume over margin to maintain cash flow. "Wellington's more moderate 43.44% early bird discount indicates a more balanced supply-demand dynamic, while Auckland's 43.95% discount suggests healthy competition without desperation." ADVERTISEMENT Book online for savings She said booking online would give people good savings on their car parking. A generic carpark. (file photo). (Source: Operators had improved their offerings and made it easier to access charging facilities and parking via apps, she said. "You don't need to book days in advance or anything, it's all making it very seamless. Those car parking facilities that have a really easy way of being able to book their parking seem to be doing better." Some people who had access to or owned carpark spaces were using platforms to offer car parks to other people when they were not in use, she said. "There seems to be a lot of that happening in Auckland, not anywhere else that I can see." Christchurch had a 28.2% online discount, Auckland 19.9%, and Wellington 12.8%. ADVERTISEMENT She said the shift to hybrid working had affected parking operators. In Auckland, some car parks had additional discounts on Mondays and Fridays. "A clear acknowledgement that these have become the preferred work from home days in many offices… that really shows there's acceptance that the middle days of the week are when parking is more expensive." Few car parks changed hands in New Zealand. "The standout transaction being Downtown Carpark in Auckland's reported sale of $122 million for 2000 spaces at $61,000 per unit, though notably involves redevelopment for mixed-use purposes rather than pure parking investment." Smaller transactions in Wellington (24 Tory Street at $56,610 per unit) suggest varied pricing across different market tiers, however, limited data does make it difficult to benchmark results. "This transaction scarcity reflects the unique nature of parking assets, which are often tightly held by long-term owners or integrated within broader property portfolios. "However, the limited liquidity also creates repositioning opportunities for astute investors who recognise that prime CBD parking sites may hold more value as development land than as income-generating parking facilities."
RNZ News
17 hours ago
- Automotive
- RNZ News
Are you paying too much for parking?
Photo: Felix Desmarais / LDR You might be paying too much for your parking, new research suggests. Vanessa Rader, head of research at Ray White Group, said she was inspired to look at how New Zealand's car park prices compared, after conducting similar research in Australia. She found what New Zealanders pay for parking can vary dramatically, even within cities. She said, on average, the daily fee being paid in CBDs was $39.53 in Auckland, $37.83 in Wellington, and $32.60 in Christchurch. But Aucklanders could be paying anything from $12 to $80, Wellington from $15 to $50, and Christchurch $10 to $98. She said that range within cities suggested that markets were "highly fragmented" and location, quality, and convenience made a big difference to price. In Australia, the difference between cities was much more pronounced than within them, she said. "People always think of Auckland as being the most expensive but it's not wildly more expensive. "It's really location sensitive… if people want to be in certain locations they're willing to pay that extra.. but if you're just someone that's commuting and you're happy to walk a couple of blocks you can get a much cheaper price and you're still definitely within the CBD." Rader said Christchurch had the most aggressive "early bird" discounts, at 48.97 percent. She said that suggested oversupply or weaker demand fundamentals. "This mirrors strategies seen in other struggling markets where operators prioritise volume over margin to maintain cash flow. Wellington's more moderate 43.44 percent early bird discount indicates a more balanced supply-demand dynamic, while Auckland's 43.95 percent discount suggests healthy competition without desperation." Photo: 123RF She said booking online would give people good savings on their car parking. Operators had improved their offerings and made it easier to access charging facilities and parking via app, she said. "You don't need to book days in advance or anything, it's all making it very seamless. Those car parking facilities that have a really easy way of being able to book their parking seem to be doing better." Some people who had access to or owned carpark spaces were using platforms to offer car parks to other people when they were not in use, she said. "There seems to be a lot of that happening in Auckland, not anywhere else that I can see." Christchurch had a 28.2 percent online discount, Auckland 19.9 percent, and Wellington 12.8 percent. She said the shift to hybrid working had affected parking operators. In Auckland, some car parks had additional discounts on Mondays and Fridays. "A clear acknowledgement that these have become the preferred work from home days in many offices… that really shows there's acceptance that the middle days of the week are when parking is more expensive." Few car parks changed hands in New Zealand. "The standout transaction being Downtown Carpark in Auckland's reported sale of $122 million for 2000 spaces at $61,000 per unit, though notably involves redevelopment for mixed-use purposes rather than pure parking investment." Smaller transactions in Wellington (24 Tory Street at $56,610 per unit) suggest varied pricing across different market tiers, however, limited data does make it difficult to benchmark results. "This transaction scarcity reflects the unique nature of parking assets, which are often tightly held by long-term owners or integrated within broader property portfolios. However, the limited liquidity also creates repositioning opportunities for astute investors who recognise that prime CBD parking sites may hold more value as development land than as income-generating parking facilities." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
7NEWS
13-06-2025
- Business
- 7NEWS
Why wellness features pay off in luxury homes, and by exactly how much
From infra-red saunas and cold plunge pools to biophilic architecture and sustainable design, high-end buyers now expect homes that support not just their lifestyle, but long-term wellbeing. Ray White's Luxury Report 2025 reveals that homes with dedicated wellness features are commanding significant premiums - 10 to 25 per cent more than comparable properties without them. This trend marks a shift in how luxury is being defined and valued. "Nearly one third of Australia's wellness market expansion since 2019 has been driven by wellness real estate, reflecting a fundamental shift in how homebuyers view their living spaces and establishing Australia as the world's fourth-largest wellness real estate market as of 2023," said Ray White Head of Research, Vanessa Rader. And this isn't just a passing trend. It's part of a broader global shift. The Global Wellness Institute estimates the wellness real estate market was worth US$398 billion in 2022 and is expected to more than double to US$887.5 billion by 2027. That explosive growth reflects changing expectations among affluent buyers who are increasingly seeking homes that are restorative, sustainable, and personal sanctuaries. The shift also extends to the buyers - retirees or traditional high-net-worth individuals aren't the only ones fuelling the market. The report's analysis of this year's top 20 luxury sales reveals a buyer pool that's younger, more entrepreneurial, and increasingly self-made. Today's prestige buyers are often in their late 40s or early 50s, but a growing cohort of millennial entrepreneurs is entering the market. "Today's ultra-luxury property buyers are primarily self-made business owners, especially those who built digital and tech companies, rather than corporate executives who once dominated this market," said Ray White Senior Data Analyst Atom Go Tian. "The wealth behind these purchases now comes from a much wider range of industries, with online businesses and technology ventures leading the way." An analysis of this year's top 20 sales reveals today's luxury purchasers are predominantly self-made entrepreneurs from diverse sectors including e-commerce, property development, financial services, fashion, and technology. In blue-chip suburbs like Sydney's Bellevue Hill or Perth's Nedlands-Dalkeith-Crawley, homes boasting wellness infrastructure - think yoga studios, infrared saunas, organic gardens and smart air-filtration systems - are transacting faster and at higher prices than their more traditional peers. Wellness is now an essential element in Australia's high-end property market. But what exactly does that mean? What wellness looks like in high-end homes Dedicated health spaces Prestige homes are increasingly being designed with in-home wellness zones. Think infrared saunas; steam rooms; cold plunge; Pilates, yoga and meditation studios with sound insulation; massage and treatment rooms; and state-of-the-art gyms. These aren't tucked away in the garage, they're integrated into the architectural flow of the home, with aesthetics to match. Health-enhancing tech Luxury now means everything is optimised for peak health, from the air you breathe and water you drink, to how much radiation you're exposed to. Advanced air purification systems filter allergens, pollutants and pathogens, ditto water filtration systems. Circadian lighting systems help regulate the body's natural sleep cycles, and EMF-reducing technology lowers radiation, especially in rest spaces. The report notes that some luxury homes even have specialised equipment fitted, like hyperbaric oxygen chambers. Sustainable and biophilic design Sustainability features like solar arrays, rainwater harvesting, cross-ventilation, and non-toxic materials are environmentally sound and commercially savvy, as buyers are willing to pay a premium for homes with these features. Natural materials, abundant light, indoor greenery and seamless indoor-outdoor transitions are expected. Features like living walls and indoor gardens purify air and reduce stress, and water features create calming soundscapes and improve humidity levels. Of course, views also help with establishing a sense of serenity. It all points to the same conclusion: in today's prestige market, wellness doesn't just feel good - it's an essential that delivers a return. Properties for sale with wellness features and design principles This terrace in Sydney's Paddington incorporates a 10-metre internal green wall and internal pond, plus a six-person Sunlighten infrared sauna on the subterranean level. There are high-end natural materials, indoor-outdoor flow and much more. This luxe new Gold Coast build has a wellness-centric design, with a complete home water filtration system; low-tox natural materials like marble, limestone and New Zealand wool carpet; low VOC paint on all interior walls; and a low electromagnetic radiation (EMR) design in the bedrooms for restorative sleep. This luxury Cottesloe luxury property boasts 40 solar panels and double glazing, along with the likes of a salon-grade spa room comprising a massage area, bathroom, sauna and jacuzzi jet showers. In addition to lush natural materials, there's a solar-heated mineral pool and ocean views. This Northern Beaches property in Sydney is like living in your own resort, complete with natural materials, indoor-outdoor living, plus a medical-grade sauna, spa and gym. It's bathed in natural light and enjoys manicured gardens and a mineral pool.
Canberra Times
12-06-2025
- Business
- Canberra Times
Why wellness features pay off in luxury homes, and by exactly how much
From infra-red saunas and cold plunge pools to biophilic architecture and sustainable design, high-end buyers now expect homes that support not just their lifestyle, but long-term wellbeing. Ray White's Luxury Report reveals homes with dedicated wellness features are commanding significant premiums. Pic: Shutterstock Ray White's Luxury Report 2025 reveals that homes with dedicated wellness features are commanding significant premiums - 10 to 25 per cent more than comparable properties without them. This trend marks a shift in how luxury is being defined and valued. "Nearly one third of Australia's wellness market expansion since 2019 has been driven by wellness real estate, reflecting a fundamental shift in how homebuyers view their living spaces and establishing Australia as the world's fourth-largest wellness real estate market as of 2023," said Ray White Head of Research, Vanessa Rader. And this isn't just a passing trend. It's part of a broader global shift. The Global Wellness Institute estimates the wellness real estate market was worth US$398 billion in 2022 and is expected to more than double to US$887.5 billion by 2027. That explosive growth reflects changing expectations among affluent buyers who are increasingly seeking homes that are restorative, sustainable, and personal sanctuaries. The shift also extends to the buyers - retirees or traditional high-net-worth individuals aren't the only ones fuelling the market. A long and healthy life is valued by high-end buyers and they are looking for facilities that help them maintain that in their homes. Pic: Supplied The report's analysis of this year's top 20 luxury sales reveals a buyer pool that's younger, more entrepreneurial, and increasingly self-made. Today's prestige buyers are often in their late 40s or early 50s, but a growing cohort of millennial entrepreneurs is entering the market. "Today's ultra-luxury property buyers are primarily self-made business owners, especially those who built digital and tech companies, rather than corporate executives who once dominated this market," said Ray White Senior Data Analyst Atom Go Tian. "The wealth behind these purchases now comes from a much wider range of industries, with online businesses and technology ventures leading the way." An analysis of this year's top 20 sales reveals today's luxury purchasers are predominantly self-made entrepreneurs from diverse sectors including e-commerce, property development, financial services, fashion, and technology. In blue-chip suburbs like Sydney's Bellevue Hill or Perth's Nedlands-Dalkeith-Crawley, homes boasting wellness infrastructure - think yoga studios, infrared saunas, organic gardens and smart air-filtration systems - are transacting faster and at higher prices than their more traditional peers. Wellness is now an essential element in Australia's high-end property market. But what exactly does that mean? What wellness looks like in high-end homes Dedicated health spaces Prestige homes are increasingly being designed with in-home wellness zones. Think infrared saunas; steam rooms; cold plunge; Pilates, yoga and meditation studios with sound insulation; massage and treatment rooms; and state-of-the-art gyms. These aren't tucked away in the garage, they're integrated into the architectural flow of the home, with aesthetics to match. Health-enhancing tech Luxury now means everything is optimised for peak health, from the air you breathe and water you drink, to how much radiation you're exposed to. Advanced air purification systems filter allergens, pollutants and pathogens, ditto water filtration systems. Circadian lighting systems help regulate the body's natural sleep cycles, and EMF-reducing technology lowers radiation, especially in rest spaces. The report notes that some luxury homes even have specialised equipment fitted, like hyperbaric oxygen chambers. Sustainable and biophilic design Sustainability features like solar arrays, rainwater harvesting, cross-ventilation, and non-toxic materials are environmentally sound and commercially savvy, as buyers are willing to pay a premium for homes with these features. Natural materials, abundant light, indoor greenery and seamless indoor-outdoor transitions are expected. Features like living walls and indoor gardens purify air and reduce stress, and water features create calming soundscapes and improve humidity levels. Of course, views also help with establishing a sense of serenity. It all points to the same conclusion: in today's prestige market, wellness doesn't just feel good - it's an essential that delivers a return. Properties for sale with wellness features and design principles This terrace in Sydney's Paddington incorporates a 10-metre internal green wall and internal pond, plus a six-person Sunlighten infrared sauna on the subterranean level. There are high-end natural materials, indoor-outdoor flow and much more. This luxe new Gold Coast build has a wellness-centric design, with a complete home water filtration system; low-tox natural materials like marble, limestone and New Zealand wool carpet; low VOC paint on all interior walls; and a low electromagnetic radiation (EMR) design in the bedrooms for restorative sleep. This luxury Cottesloe luxury property boasts 40 solar panels and double glazing, along with the likes of a salon-grade spa room comprising a massage area, bathroom, sauna and jacuzzi jet showers. In addition to lush natural materials, there's a solar-heated mineral pool and ocean views. This Northern Beaches property in Sydney is like living in your own resort, complete with natural materials, indoor-outdoor living, plus a medical-grade sauna, spa and gym. It's bathed in natural light and enjoys manicured gardens and a mineral pool.
Herald Sun
03-06-2025
- Business
- Herald Sun
Retail giants snub Tasmania: Why Aldi, Costco resist expansion
Tasmanians have long been yearning for the arrival of Aldi and Costco, two retail powerhouses known for their competitive pricing and diverse offerings. Yet, despite the island state's growing demand, both companies remain conspicuously absent, leaving locals to question why they are being overlooked in the retail landscape. Aldi, the German-owned supermarket chain, has made its mark across Australia since 2001, boasting over 590 stores nationwide. Promising 'Australia's lowest prices', Aldi has become a staple for budget-conscious shoppers. However, Tasmania remains one of the few jurisdictions, alongside the Northern Territory, where Aldi has yet to establish a presence. The Greens have now stepped forward with a $30 million plan to entice Aldi to Tasmania, arguing that the supermarket's entry would drive down grocery prices and invigorate the local economy. This initiative reflects a strategic push to provide Tasmanians with more affordable shopping options and stimulate job creation. MORE NEWS Inside Australia's haunting mall mystery What ever happened to Hog's Breath Cafe? Remembering Sizzler: The rise and fall of a dining icon Meanwhile, Costco, renowned for its bulk-buying model and expansive warehouse stores, also remains absent from Tasmania. Ray White Group head of research Vanessa Rader said the lack of both Aldi and Costco had left Tasmanians with limited choices and potentially higher grocery bills compared to their mainland counterparts. However, she adds the reason for their absence was perhaps easy to explain. 'It all comes down to population and scale…they just couldn't make it work there because it does need the additional kind of industry or what not,' she said. 'With Costco, I don't think (the Tasmanian) market would sustain any more than one store, so that, plus the additional requirement for distribution…makes it not a viable situation. 'Aldi is a little bit different because you already have your Woolies and Coles, which means the population just isn't there to compete with what's already there 'I think it's a market that's already at capacity in terms of what their requirement for supermarkets is. So I think Aldi is thinking that the market is quite small…so unless there's a change in that population landscape, things aren't going to change and then you also have geographical difficulties in getting stuff there.' Greens announce $30m plan to entice Aldi to Tasmania While logistical concerns, market size, and population density may be factors, the persistent demand from locals suggests a ripe opportunity for expansion. As the situation unfolds, Tasmanians are left wondering if and when these retail powerhouses will recognise the untapped potential of the island state. The Greens' $30 million proposal stands as a significant gesture towards bridging this retail gap, but whether it will be enough to sway Aldi and Costco remains uncertain. Tasmanian Greens Senator Nick McKim, who is the party's economic justice spokesman, announced the plan in April, saying bringing Aldi to Tasmania would help ease cost-of-living pressures in the state. 'Coles and Woolworths have had it too good for too long, and Tasmanians are paying the price,' he said. 'A lack of competition means shoppers here are paying at least $15 more on a basket of essential groceries compared to Aldi, which adds up to hundreds of dollars a year.' MORE NEWS: Ampol's $20m Land Bonanza: What's Next? Senator McKim said the Greens would launch a $2m supermarket competition review that would determine the barriers preventing discount supermarkets such as Aldi from establishing themselves on the Apple Isle. The party would then provide the state government with up to $28m to support the entry of new competitors in the supermarket sector, which could involve subsidising distribution centres, boosting supply chains, and making government land available to supermarket retailers on a competitive basis. Senator launches petition to being Aldi to Tasmania Tasmanian independent senator Tammy Tyrrell has also pushed for Aldi to head south to the island state, launching a petition that has attracted thousands of signatures. 'They say imitation is the best form of flattery (and) I'm glad the Greens are finally on board my campaign to bring Aldi to Tassie,' she said. 'The more the merrier – if this puts more pressure on Aldi to make the leap across Bass Strait, I'm happy with that. 'The (Australian Competition and Consumer Commission) says bringing Aldi to town saves people an average of $890 a year. That could be the difference for someone keeping their heater on in winter or not.' Tasmanian MP Andrew Jenner from the Jacqui Lambie Network is also calling on the state government to invest $1 million in a study to explore the possibility of bringing a Costco or similar low-cost supermarket chain to the island state. 'Research from consumer group Choice has found that the average cost of groceries in Tasmania is 25 per cent higher than on the mainland, despite Tasmanian wages being an average of 10 per cent lower,' Jenner said. 'The report stated that the lack of ALDI, or equivalent low-cost supermarkets in Tasmania is directly contributing to the higher-than-average grocery prices. 'Bringing Costco, or a Costco equivalent, would directly help alleviate the cost-of-living pressures in a fundamental way.' Aldi has 'no current plan' to come to Tasmania, CEO says A report published last year by consumer group CHOICE found that Aldi was the most affordable supermarket chain in the country, with the total price of an average basket of groceries being $50.79. While Aldi has almost 600 stores across Australia, Tasmania is the only state without one. Even Geelong, which is a similar size to Hobart, is home to Aldi. Speaking at a Senate inquiry in April last year, Aldi CEO Anna McGrath said the chain had 'no current plan' to open a store in Tasmania, citing supply chain 'complexities'. 'That's not to say that we don't continuously review where we may expand in the future,' she said. When asked why Aldi was expanding to other smaller regions but not Hobart, Ms McGrath replied it 'goes back to us having a very different business model'. 'For us, the way that we're able to continue to invest in price is to keep our operating costs as low as possible and having the lowest operating costs in the sector,' she said. 'That means when we're identifying where to expand, we do need to consider the additional costs and complexities that are involved.' The unfolding situation highlights a pressing issue: will Tasmania continue to be sidelined in the retail landscape, or will Aldi and Costco finally answer the call of its residents? The outcome could reshape the state's retail environment and consumer experience for years to come.
