Air New Zealand warns of disruption for the next two years amid engine inspections Air New Zealand is making schedule changes on some routes due to engine inspections. The Auckland-Seoul (Incheon) direct route and the Auckland-Hobart (Australia) route will be temporarily suspended from April 2024 for six months. Currently, Air New Zealand operates the Auckland-Incheon direct route three times a ..

Average Auckland house deposit may reach $1m by 2045 A warning has surfaced that first-time homebuyers in New Zealand may find it increasingly challenging to afford the down payment for an average-priced home. According to a report shared exclusively with 1News, the Auckland average housing deposit is predicted to reach $1 million by the year 2045. Auckland designer Raph Roake contends that home..

Complex Reality of New Zealand Housing Market: Kiwis share regrets about buying first home Wellington, New Zealand - Some New Zealand citizens who purchased their first homes are currently facing financial crises and regretting their decisions. These stories have become a hot topic on social media, with over 230 people commenting on a post titled, "Do you regret buying your first home?" One user..

Median-income First Home Buyers Struggle to Save for a Deposit It appears that middle-income individuals aiming to purchase their first homes will find it challenging to accumulate the required deposit. According to the Aera Time to Deposit Index report, which is based on research by Aera, middle-income homebuyers face unfavorable conditions when it comes to saving the 20% deposit on the average..

House prices starting to rise but recovery is slow going The stagnation in the New Zealand real estate market is expected to come to an end with signs of recovery on the horizon. According to the latest report from CoreLogic, the Housing Price Index (HPI) rose by 0.4% in October, marking a 0.1% increase over the past three months and the first increase in property values since March 2022. Kelvin..

Sales of farms and lifestyle blocks continued their downward slide in September The rural property slump deepened in September with farm and lifestyle block sales both continuing their downward trajectory. According to the Real Estate Institute of New Zealand (REINZ), just 151 farms were sold over the three months to the end of September. That's down 21% compared to the same period of last year,..

Auction with $1 reserve attracts 43 bidders to Thames waterfront property A slip knocked this red-stickered house off its foundations - the skew is not the camera - but that didn't stop it being a very hot property over the weekend. The house, in a prime waterfront position in Thornton Bay on the Thames Coast Rd, was auctioned with a $1 reserve on Saturday. And listing agent Steven Bridson of Ha..

New Zealand's 2024 Inflation Outlook and Westpac Bank's Interest Rate Forecast New Zealand - Westpac Bank has unveiled its forecasts for New Zealand's 2024 inflation rate and benchmark interest rates. It is increasingly likely that the inflation rate will remain within the Reserve Bank of New Zealand's (RBNZ) target range of 1% to 3%, and an additional interest rate hike is expected in the first..

New Zealand Announces Ambitious Plan for 100% Renewable electricity generation by 2035 New Zealand has set its sights on a remarkable goal, aiming to increase its renewable energy capacity to 100% by the year 2035. This ambitious endeavor has captured the attention of the domestic steel industry and is swiftly gaining international acclaim for its efforts to expand green energy. The government's..

New Opportunities in Commercial Real Estate Markets of New Zealand and Australia The commercial real estate (CRE) lending markets in New Zealand and Australia are experiencing growth, highlighting alternative investment opportunities. Over the past decade, the CRE lending market of major banks has grown at an average annual rate of 3.8%, while the alternative investment sector has surged at an i..

New Zealand Housing Market Resurges Alongside Election Results New Zealand, October 26, 2023 - In recent times, the New Zealand housing market has been experiencing a resurgence, closely tied to the outcomes of the recent general election. As a result, there is a growing interest in real estate sales and purchases across the country. Gavin Lloyd, a real estate sales director at TradeMe, has anal..

KiwiSaver underperforming compared to Aussie counterpart According to a recent report by KiwiSaver, there are notable disparities in performance when comparing the New Zealand-based retirement savings system to the Australian Superannuation system. KiwiSaver, a unique New Zealand institution, has been shown to underperform in comparison to Australia's Super system. A recent exclusive report by O..

New Zealand's ANZ Bank to Increase Home Loan Rates Ahead of RBNZ OCR Review Wellington, October 25, 2023 - One of New Zealand's largest banks, ANZ, has announced measures to raise home loan rates in anticipation of the upcoming review of the Official Cash Rate (OCR) by the Reserve Bank of New Zealand (RBNZ). On the afternoon of October 24, ANZ Bank revealed plans to increase home mortgage rates ..

Far North, Karikari Beach Sand Dunes: Escalating Land Ownership and Maori Tribe Dispute In the northern reaches of Far North, tensions are on the rise as a dispute between landowners and local Maori tribes intensifies over access to the sand dunes of Karikari Beach. The subtribes of the Ngāti Kahu Maori tribe, Whānau Moana and Te Rorohuri, have initiated this conflict by occupying Whatuwhiwhi Ro..

New Zealand Faces Decrease in Chinese Exports New Zealand's exports to China, which had reached a substantial annual value of $19.7 billion until September, are showing a recent decline. According to the latest trade trends data from the Statistics Bureau, New Zealand's exports to China accounted for 27% of the total annual goods exports until September, amounting to $70.4 billion, but these fig..

Young family pays $8.23 Million for Remuera trophy home A nearly new mansion located in Oakland's Remuera now boasts a garage with a turntable, a heated swimming pool, and a gym facility. This luxurious abode was recently purchased by a young family for a staggering $8.23 million. According to OneRoof, the residence is situated on Orakei Road and comprises five bedrooms and five bathrooms. Compl..

Magnitude 6 earthquake shakes New Zealand's Kermadec Islands A magnitude 6.0 earthquake struck the waters off New Zealand's coast. A magnitude 6.0 earthquake struck the Kermadec Islands, north of New Zealand, on Monday, according to the US Geological Survey. The earthquake's epicenter was located at a latitude of 29.95 S and a longitude of 177.52 W, with a depth of 23 kilometers. This informatio..

Tauranga, Mount Maunganui residents call for better air quality Mount Maunganui, New Zealand - Residents and visitors of the Mount Maunganui region are emphasizing the importance of improving air quality alongside the area's growth and safe mobility. The Tauranga Council is reported to be in discussions with the Mount Maunganui and Arataki community about a draft plan addressing these concerns, ..

Auckland Townhouse Development in Flood-Prone Area Sparks Outrage Auckland, January 27 - Following record-breaking rainfall due to climate change, the Onehunga area in Auckland was inundated by a devastating flood. Now, a new townhouse development plan in this area has sparked controversy among local residents and potential buyers. Residents claim that this development is a misguided plan that c..

New Zealand Housing Market: Decreased Concerns of Decline and Shifting Buyer Sentiments In the midst of heated discussions about the optimal time to enter the New Zealand real estate market, the latest ASB Housing Confidence Survey indicates a shift in expectations. Only 8% of respondents anticipate a continuous decline in housing prices, marking a significant 34% decrease from the previous quar..