Statistics New Zealand Releases Q3 2023 Consumer Price Index (CPI) and Housing Price Increase New Zealand's Consumer Price Index (CPI) rose by 5.6% year-on-year from July to September 2023, as reported. Citing data released by Statistics New Zealand, the publication noted that despite the third-quarter CPI increase being at its lowest level in two years, it still significantly surpasses the targ..

Inflation rate falls to 5.6% as economic cooling continues According to data released by the statistical agency on October 17th, New Zealand's Consumer Price Index (CPI) for the 3/4 quarter has been recorded at 5.6%, indicating a continued decline in inflation. The Consumer Price Index (CPI) is a key indicator reflecting the annual fluctuations in prices of goods and services. Although the annua..

Confidence in housing market up, ASB survey shows Confidence in the housing market is perking up, with more people believing house prices are now past their lows and are set to increase, according to a new ASB survey. The bank's just-released housing confidence survey shows 8 percent of the 2900 respondents expected house prices to fall further, down from 34 percent the previous quarter. ASB eco..

How much has this shopping list gone up in price since 2021? Two shopping lists two years apart have highlighted how much more we're paying at the checkout. Grocery food prices are 19.3% higher than they were in September 2021 and that's reflected in the results from Fair Go's latest shop across the major supermarkets. The programme has been checking the prices on common grocery items throughout..

New Zealand National Party's Luxon to lead new government New Zealand's National Party Secures Victory in General Election, Christopher Luxon Set to Assume Office as Prime Minister In a significant electoral triumph, New Zealand's leading political party, the National Party, has emerged victorious in the general election, paving the way for political novice Christopher Luxon to assume the role o..

Trade Me Reports Ongoing Increase in Weekly Rental Rates in New Zealand According to Trade Me, over the past year, weekly rental median values have risen by over 10% in six regions of New Zealand. The latest rental data reveals that in September, the nationwide weekly rental median remained at $620 for the fourth consecutive month. This marks a 7.8% increase compared to the same period last year..

New Zealand New record: Annual net migration tops 110,000 for the first time in history According to Statistics New Zealand, it has been revealed that in the past year, the net immigration in New Zealand increased by 112,000 individuals. This figure represents the difference between the number of arrivals and departures, encompassing individuals who change their country of residence regardless o..

Tenancy Tribunal: Landlords to pay $14,000 after raw sewage left pooling from septic tank The Tenancy Tribunal has issued a ruling requiring a landlord to compensate a tenant with $14,000 for neglecting a septic tank. According to the verdict, the tenant was paying a weekly rent of $200, yet the residence was not approved for residential use and was in a severely dilapidated state. The septic ta..

Israel-Hamas conflict: More pain at the pump to come as Israel-Hamas conflict sees oil prices jump In a stark warning, a leading economist cautions that the intensifying conflict between Israel and Hamas is causing a spike in oil prices, posing difficulties for New Zealand as a kiwi-producing nation heavily reliant on oil supplies. Already grappling with a cost-of-living crisis and rising petrol..

QV data shows residential property market slowly recovering The residential property market is showing signs of “revitalisation” throughout the country, according to Quotable Value. The market remained largely flat overall, with the average home value increasing by just 0.9% in the September quarter to $899,256, the latest QV House Price Index showed. However, twice as many of the main urban cen..

New Zealand Real Estate Market on the Rise with Increase in First-Home Buyers New Zealand's housing market is showing an upward trend, fueled by a surge in first-home buyers. According to the latest Housing Price Index from the Real Estate Institute of New Zealand (QV), the average housing price in September rose by 0.9% over the three-month period from August, indicating a generally stable hous..

North Island's South Wairarapa Road Slowly Eroding into the Sea, Residents Fearful of Isolation The roads in the South Wairarapa region are gradually succumbing to the sea, posing a risk of complete isolation for those dependent on these routes, as reported by RNZ. Known as 'The Gluepot,' this road winds along steep cliffsides, with one side facing the ocean and the other adorned with towering p..

New Zealand Experts Advocate for Calls for ultra-processed food tax to protect unborn children Concerns about the negative impact of consuming unhealthy foods during pregnancy on the mental health of children have led mental health experts in New Zealand to call for a tax on processed foods. According to New Zealand media, Professors Julia Rucklidge of the University of Canterbury and Roger Muld..

New Zealand Faces Retirement Preparedness Challenge: Soaring Inflation and Retirement Costs Rising inflation has prompted New Zealand citizens to realize that preparing for retirement requires more than just relying on pensions; additional savings are imperative. According to the latest Retirement Expenditure Guidelines, the required retirement funds have increased even when excluding pensions, ..

Reserve Bank holds the official cash rate steady at 5.5 percent Reserve Bank of New Zealand Holds Interest Rates Steady at 5.5% for Third Consecutive Time amid Economic Downturn and Elevated Inflation The Reserve Bank of New Zealand (RBNZ) has decided to maintain the Official Cash Rate (OCR) at 5.5% on the 4th, according to reports from CNBC and MarketWatch. The Reserve Bank of New Zealand held ..

New Zealand's New Home Building consents Decline by 17% Through August New Zealand, October 4 - The issuance of new home building consents in New Zealand recorded a total of 42,110 units through August of the past year, marking a 17% decrease compared to the same period last year. Based on data released on October 2nd (Monday) by Statistics New Zealand, a spokesperson explained that the trend of..

Election Anticipation: Focus on Interest Rates and Economic Trends With the election looming, attention turns to rates, policies, and petrol prices As the election approaches, the focus of many individuals is honing in on current interest rates, policies, and petrol prices. This Wednesday afternoon, the decision on the official cash rate for the next six weeks will be announced, with experts pre..

CoreLogic finds potential debt-to-income caps may dampen housing market activity Real estate research firm CoreLogic has released an analysis warning that the current recovery in the housing market could become more challenging with the introduction of Debt-to-Income (DTI) limits. According to CoreLogic's report last month, it highlighted an increase in the annual growth rate of new mortgage loa..

Pre-election jitters for the property market? It has been revealed that home sales volume across New Zealand has reached an all-time low. This phenomenon emerges amidst a vibrant real estate market, with industry experts interpreting it as a pre-election state of stagnation. According to the September New Zealand Real Estate Report by Realestate.co.nz, some regions experienced a sharp decline in..

New Zealand Tops Political Donations, Real Estate Industry Takes Spotlight The leading sector in political donations in New Zealand has been revealed to be the real estate industry. According to investigations by RNZ (Radio New Zealand), political donations since 2021 have predominantly flowed from the real estate sector, surpassing the significant amount of 2.5 million dollars. Contributors fro..