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The property bubble in New Zealand is a major national economic and social issue. Since the early 1990s, house prices in New Zealand have risen considerably faster than incomes, [ 1 ] putting increasing pressure on public housing providers as fewer households have access to housing on the private market.
The 2023 New Zealand mini-budget generated NZ$7.5 billion worth of savings by stopping 15 programmes including 20 hours of free childcare for two-year-olds (worth NZ$1.2 billion), eliminating depreciation for commercial buildings (NZ$2.3 billion) and disestablishing the Climate Emergency Response Fund (NZ$2 billion). [2]
US house price trend (1998–2008) as measured by the Case–Shiller index Ratio of Melbourne median house prices to Australian annual wages, 1965 to 2010. As with all types of economic bubbles, disagreement exists over whether or not a real estate bubble can be identified or predicted, then perhaps prevented.
Regal and vice-regal Government Other party leaders in parliament Judiciary Main centre leaders Regal and vice-regal Head of State – Charles III Governor-General – Dame Cindy Kiro Charles III Cindy Kiro Government Legislature term: 53rd New Zealand Parliament until 8 September, then 54th New Zealand Parliament from 5 December. The Sixth Labour Government, elected in 2017 and 2020, then the ...
New Zealand Prime Minister Jacinda Ardern faces tough challenges as she heads into a general election campaign next year, with economic growth slowing, divisive referendums looming and a country ...
In response, the New Zealand Treasury forecast that New Zealand would avoid a recession due to the rebuilding programme resulting from the Auckland floods and Cyclone Gabrielle. The Treasury also forecast that New Zealand's economy would not return to surplus for another year due to declining tax revenue and the Government's 2023 budget ...
Prior to the economic shock created by Britain's decision to join the European Economic Community (EEC) in 1973, which removed the UK as New Zealand's primary market for exports, [121] unemployment in New Zealand was very low. A recession and a collapse in wool prices in 1966 led to unemployment rising by 131%, but still represented only a 0.7% ...
“We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t even looking at it,” Hanke told CNBC. “We’re going to have one whopper ...