This alarming statistic, highlighted in a recent report by global infrastructure firm GHD, underscores a deepening struggle for affordability that outpaces many other developed nations. According to the study encompassing 10 countries and over 13,000 respondents, 17 per cent of New Zealanders are grappling with the crushing reality of spending…

A Kiwi food price report marks the first annual decline in nearly six years, signalling a departure from the persistent upward trend seen since August 2018. The decline in food prices was primarily driven by substantial drops in the cost of tomatoes, cheese, and potatoes, according to consumer prices manager…

The newly enacted Natural Hazards Insurance Act effective from July 1st, reflects a broader mandate to encompass a range of natural disasters beyond earthquakes. The Commission’s Chief Executive, Tina Mitchell, emphasises that the legislative update is designed to modernise and strengthen their ability to mitigate the impact of natural hazards…

Many stakeholders are urging for crucial revisions to enhance clarity and confidence among all parties involved. Presented by Minister of Commerce and Consumer Affairs Andrew Bayly, the Bill aims to modernise insurance contract law, a process initiated back in 2019 under the previous Labour-led government. During a recent public hearing…

As recent data reveals that many are now facing properties worth less than what they paid during the market’s peak. According to CoreLogic, a staggering 81 per cent of homes purchased by first-time buyers between October 2021 and March 2022 have seen their values decline since purchase, with approximately 18…

The latest data from Stats NZ unveils a stark reality: while migrant arrivals surged by 25 percent, a staggering 56,000 New Zealanders departed in the year leading up to April—a figure that surpasses all historical records, including the previous peak observed in February 2012. BNZ’s Chief Economist, Mike Jones, attributes…

This surge highlights the growing volume of dormant funds lying untouched in various financial institutions and investment vehicles. The ‘unclaimed money’ list maintained by Inland Revenue encompasses amounts of at least $100 that have remained dormant in banks, finance companies, investment funds, or with legal and financial professionals for extended…

Finance Minister Nicola Willis announced that households can expect to see an increase of up to $102 every fortnight starting July 31st. According to Minister Willis, the passage of the bill fulfills the coalition Government’s pledge to alleviate the financial strain felt by many New Zealanders amidst a prolonged cost…

This shift redirects funds to create approximately 1,500 new social housing units through external organisations rather than Kāinga Ora, the state housing agency. While existing applications for the grants will be processed, no new applications will be accepted immediately. Housing Minister Chris Bishop defended the move, explaining that the reallocation…

The report specifically warned against borrowing that is not fully funded. The pandemic and subsequent spending overruns have significantly deteriorated New Zealand’s fiscal health, leading to a permanent rise in the government spending to GDP ratio. To address this, the OECD recommended a gradual approach to returning the government’s budget…