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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.
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 ...
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.
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 ...
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]
An economic downturn can be a scary time for investors. As consumers spend less, company profits are reduced which can spell trouble for the stock market. If you're planning to stay invested during...
January 20, 2023 at 8:47 AM DAVOS, Switzerland — At this year's World Economic Forum , talk about a recession among top business leaders was flowing as freely as the high-calorie Swiss desserts.
The 2023 southern New Zealand floods were caused by heavy rain that struck the southern part of New Zealand's South Island on 21 September 2023. This storm caused flooding in several places across the Southland and Otago regions including Gore and Queenstown. 100 homes were evacuated in Queenstown and Tuatapere's water treatment plant was damaged.