The July figures reveal that seasonally adjusted sales numbers fell nationally, while the House Price Index (HPI) slipped 0.4 per cent from June. However, it remained 0.1 per cent higher than the same time last year. Auckland’s housing market underperformed the national trend, with the HPI down 1.8 per cent…

The tariff hike marks a significant escalation from the previous 10 per cent rate and has sparked concerns among New Zealand officials and businesses alike. The new tariff is part of a sweeping policy initiative introduced by Trump, targeting countries that have yet to reach a trade agreement with the…

The change will prohibit additional charges for transactions made using domestic Visa, Mastercard, and EFTPOS cards. The Government plans to introduce the Retail Payment System (Ban on Surcharges) Amendment Bill by the end of 2025. The ban will mark a major shift in the way payments are processed in the…

ANZ economists, in their latest property market update, have identified council rates as a major component of rising homeownership costs, alongside insurance premiums and interest expenses. While interest rates have begun to ease and other ownership costs like insurance and maintenance have levelled off, council rates have continued to climb…

This move is expected to deliver significant savings for small and medium enterprises across the country, particularly those in the retail and hospitality sectors. Interchange fees are a key cost for businesses when processing card transactions, especially for credit and international cards. These charges are often passed on to consumers…

A deeper problem lies beneath the surface, many New Zealanders are no longer able to find full-time work and are instead patching together multiple part-time roles to stay afloat. In the March quarter, full-time employment dropped by 45,000 positions, while part-time jobs saw an increase of 25,000 compared to the…

The agreement boosted international equity markets, with the S&P 500 reaching a fresh record high. While the optimism was most pronounced in the US and Europe, ripple effects were felt across financial markets.  The US-Vietnam agreement is a strategic move ahead of a looming July deadline for reciprocal trade tariffs.…

ASB now believes just one more cut will bring the OCR to its floor of 3.00 per cent, marking the end of the current easing cycle. Since August last year, the Reserve Bank of New Zealand (RBNZ) has reduced the OCR from a peak of 5.5 per cent to its…

Prices in the mid-2030s are expected to be around 20 per cent lower than their 2021 peak when adjusted for inflation. This outlook, provided by economic consultancy Infometrics, suggests a slow recovery from the market highs reached during the pandemic housing boom. While nominal house prices are tipped to edge…

The increase, which comes courtesy of the Ministry of Business, Innovation and Employment, follows a combination of regulatory changes and broader pressures on the energy market. The April review of electricity pricing marked a significant turning point. Companies were permitted to raise their charges, which added an estimated $10 to…