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..

TradeMe Sparks Discontent in Real Estate Industry with 30% Success Fee Hike New Zealand's online trading platform, TradeMe (Trademe.co.nz), has raised success fees for business owners by approximately 30% starting from October 1st. This move has prompted criticism from numerous real estate managers, who accuse TradeMe Property of monopolizing leasing and increasing fees without substantial compe..

Tesla Opens Supercharger Stations in New Zealand's Electric Vehicle Market Electric vehicle manufacturer Tesla has opened Supercharger stations targeting non-Tesla electric vehicles at six locations in New Zealand. This news was reported by Electrive on the 29th. The areas targeted for this opening include Rotorua (6 charging stations), New Plymouth (3 charging stations), Christchurch (4 chargin..

Unemployment likely to rise, Westpac says after confidence index takes a hit Westpac has recently forecasted a potential rise in unemployment based on the published confidence index. The Westpac McDermott Miller Employment Confidence Index showed a decline in the third quarter of September. This marks the first negative sentiment towards the labor market since March 2021 and records the lowest f..

New Zealand Records 0.9% Quarterly GDP Growth and 3.2% Annual Growth in June New Zealand's economy has witnessed substantial growth in the June quarter. According to data released by the statistics bureau on September 21, the country's GDP for the June quarter grew by 0.9% compared to the previous quarter, with an annual growth rate of 3.2%. This marks a significant recovery for the Gross Domest..

Food Price Index rose 8.9% in August year-on-year Food prices have maintained a significant upward trend for an extended period, but recent data reveals that they increased by 8.9% annually until August. This is seen as a slight stabilization in the market. Over the past few months, staple foods such as eggs, yogurt, and potato chips, along with dairy products, have been identified as the primar..

ANZ: House prices going up faster than we thought ANZ says it now expects house prices to lift about 4% over the second half of this year, and to continue to rise at their current pace until autumn next year. Previously, the bank had predicted growth would be 3% and then flatten in 2024. The bank’s economists said the house price cycle had clearly turned and prices had been “marching upwards” ov..

Advertised salaries rising at fastest rate in six years amid strong hiring activity The number of job ads is on the rise for the first time since March, alongside an increase in salaries. The latest Seek NZ Employment Report indicates job ad volumes rose 2.2 percent in August over July, with the number of applications per job continuing to rise for the sixth consecutive month, with a 2 percent i..

New Zealand Immigration: Prime Opportunity with Green List Expansion In the wake of the Immigration Department's announcement last Saturday, if you've ever considered immigrating to New Zealand, now may be the most opportune time, according to the expert analysis by Insider. New Zealand is actively addressing its ongoing shortage of skilled workers by expanding the Immigration Green List, adding..

Real Estate Agent Found Guilty and Fined Due to Water Leakage Issue In a recent development, a real estate agent has been found guilty and fined a total of $11,000 for waiting until the completion of a property sale to disclose a water leakage issue. The property in question had humidity levels eight times higher than the normal range, and it failed to provide the buyers with a building report t..

Prefu Economic Update: OCR and Interest Rate Projections, Housing Price Rise Forecasts Economic experts suggest that there will be no surprises for the Reserve Bank of New Zealand (RBNZ) based on the future path of the Official Cash Rate (OCR) in the Prefu (Pre-election Economic and Financial Update). Caralee McLiesh, the Finance Minister, unveiled predictions for the government's finances and t..

The most expensive districts to rent in Aotearoa as supply dwindles and demand surges Auckland North Shore: New Zealand's Highest Rent-Paying Area According to recent data from TradeMe, tenants in the Auckland North Shore area faced an average rent increase of $30 in July, bringing their monthly rental cost to $730. Meanwhile, in the same month, Porirua saw a significant 15% surge in rental pric..