web analytics

Housing bubble round 2

Written By: - Date published: 10:37 am, June 13th, 2012 - 27 comments
Categories: housing - Tags:

Another housing bubble. Just what we need. House prices up 5.4% in a year, 7.8% in Auckland. Inflation is 1.6%.

Billions are being funneled into housing by banks who can make a buck off importing cheap credit from offshore and lend it to homebuyers here. There’s no real sources of income growth for them, so they’re pumping another housing bubble.

Just puts housing further out of reach for the rest of us. Businesses are still finding capital too expensive.

It couldn’t happen without the tax advantages that housing investment enjoys. The government could act. But this is National, does anyone expect solutions from them anymore?

27 comments on “Housing bubble round 2 ”

  1. ianmac 1

    And wasn’t NZs major debt problem in housing (and farming)? Just what is the Government doing to make housing affordable yet not a debt burden?
    Round and round and round and….

  2. Don’t worry.  The Market will solve this for us …

  3. Carol 3

    Those images are too small for my eyes.

    But I heard something of this on RNZ-National this morning.

    When are people going to start moving away from this nonsense about everyone owning their own home? Whatever happened to the intense debate between leasehold and freehold in the 19th century NZ?

    http://nzetc.victoria.ac.nz/tm/scholarly/tei-DruSedd-t1-body-d18.html

    Owning your own home only benefits those at the top of the housing pyramid. Those further down will always be at risk of losing everything in periods of economic contraction. It creates wealth for the few, masks the insecurity of the many, and is fueling property speculation that is damaging to us all.

  4. vto 4

    When the financial and banking ponzi scheme that is fractional reserve banking finally reaches its end point, as it is in Greece, Spain, everywhere, then there will be the most spectacular fall ever in house values.

    Coming soon to a neighbourhood near you.

  5. tsmithfield 5

    “Don’t worry.  The Market will solve this for us …”

    Absolutely it will. You might not like the solution the market provides though. Take a look at Spain for example. 

    • bbfloyd 5.1

      i think your sarcasm meter has run dry TS….. recharge it, and read the comment again….

  6. lprent 6

    Interesting – why are you all writing these comments in the image ‘post’ ?

    [lprent: Fixed. There was a image from 2009 with the same slug as this post. I changed the slug and moved the comments out of a 2009 timewarp.

    Now I have to figure out how to prevent
    a. that naming conflict
    b. comments being left on image ‘pages’ ]

  7. tsmithfield 7

    VTO “When the financial and banking ponzi scheme that is fractional reserve banking finally reaches its end point, as it is in Greece, Spain, everywhere, then there will be the most spectacular fall ever in house values.
    Coming soon to a neighbourhood near you.”

    A price bubble in anything is simply a signal that demand is exceeding supply for a given product. In the case of housing, the best way a government/local government can reduce the likelihood of bubbles is to ensure the supply of land available for building is always matching demand. This means  that prices should stay constant other than for adjustments due to changes in building costs.
     

    • vto 7.1

      Yes you’r right, but only to an extent. The market in property operates not just on the basis of the supply and demand for land, it also operates on the supply and demand of money. Money printed out of thin air every time a loan is made.

      Now think on this for a minute – imagine if thin-air money was no longer available, or, that debt availability simply reduced to near nil. In his situation the only money available would be money in existence right now. No debt. What do you think would happen to property values? And what do you think would happen to the boom-bust cycles? Would they be as large and volatile as they are now? Imagine a world where you could only buy property with cash and no debt.

      Imo, a version of this is right on our doorstep and about to knock knock knock – the big bad wolf is about to blow the house in.

  8. Johnm 8

    Here we go again, we give wealth speculators a free way to dominate a social common good and continue to make Housing unaffordable for our young people. Disgusting! Could be so easily stopped with a 80% capital gains tax (Backdated for 10 years)or simply stop it through law. But the wealthy of NZ don’t want that scam stopped and National + Labour are in on it as well. When I first bought a 3 bedroom house in 1981 I was getting a salary of $10,000 a year and I bought a 20 year old house near the centre of Wellington on a huge section for only $32,000.! NZ was a great country then and had lots of work. After that the word went out: Buy Property, Buy Property etc. it’s the path to wealth get the wage slaves to pay off your mortgage and cash in the self bidded up capital gain! Disgusting! What a selfish Act Party bunch we have become.

  9. tsmithfield 9

    “Money printed out of thin air every time a loan is made.”

    What happens is the bank advances funds against an asset, that being a mortgage in which the funds advanced are returned over time with interest. So it is not quite accurate to say the money is printed out of thin air. The initial advance might be. But, so long as the borrower is reliable then the money advanced is returned to the bank as real money.

    VTO “Now think on this for a minute – imagine if thin-air money was no longer available, or, that debt availability simply reduced to near nil. In his situation the only money available would be money in existence right now. No debt. What do you think would happen to property values? And what do you think would happen to the boom-bust cycles? Would they be as large and volatile as they are now? Imagine a world where you could only buy property with cash and no debt.”

    What could happen, and is already happening to an extent, is that more stable banks such as those in NZ will be preferred by investors than those in dodgy places such as Spain. Thus, the availability of money could increase here, driving down interest rates and expanding the price bubble. Look at the price war on now with interest rates as evidence of this. Could be very tough for Spain but good for us.

    VTO “Would they be as large and volatile as they are now? Imagine a world where you could only buy property with cash and no debt.”

    If you want to explore this theory a bit further, you need to ask yourself the question “what is cash?”

    • AAMC 9.1

      “so long as the borrower is reliable”

      there you have it, Spain was pretty happy with where it was at when all that cheap money was flooding it’s way. Yes, the built an oversupply of property, but it was the credit crunch that got them.

      So when credit crunches later this year in England, Europe inevitably falls apart, Argentina continues it’s slide, China buys less of Australia’s shit, India slows, America returns to recession when they stop manipulation currency and figures after the election…. you really think we in our little old economy, so tied to all of theirs, will still be able to afford property we bought for 2.6 mill in Grey Lynn? Just cause there aren’t many other houses to buy.

      Anyway, people I know trying to sell property outside of the hot spots are already experiencing deflation or a total lack of demand.

    • mike e 9.2

      not so fast the silly monetarist our new property bubble will burst sooner than later.
      Already the big banks are being very careful.
      The number of mortgagee sales have sky rocketed in the last 6 months.
      Not enough houses are being built in Auckland no property developer wants to take risks in such a volatile market.
      With further bad news on way unemployment will rise as this govt muddle through with no plan for the future.Replay David Schillings interview RNZ

    • mike e 9.3

      not so fast the silly monetarist our new property will burst sooner than later.
      Already the big banks are being very careful.
      The number of mortgagee sales have sky rocketed in the last 6 months.
      Not enough houses are being built in Auckland no property developer wants to take risks in such a volatile market.
      With further bad news on the way unemployment will rise as this govt muddle through with no plan for the future.Replay David Schillings interview RNZ

    • mikesh 9.4

      “What happens is the bank advances funds against an asset, that being a mortgage in which the funds advanced are returned over time with interest. So it is not quite accurate to say the money is printed out of thin air. The initial advance might be. But, so long as the borrower is reliable then the money advanced is returned to the bank as real money”

      When the loan is repaid the repayment simply cancels the original debt, so no “real money” comes into existence.

      • tsmithfield 9.4.1

        The “plus interest” does.

      • AAMC 9.4.2

        Real money, whats that?

        So if there is a credit crunch and a string of bankruptcy as a byproduct of affordability, a whole bunch of ponzi wealth disappears. Cause the liquidity that isn’t created as TARP or QE or LTRO or TWIST (which is used to prop up insolvency and to speculate on derivatives and commodities) is the byproduct of over inflated asset prices, inflated by debt creation, not by wage growth and productivity.

  10. AAMC 10

    “A price bubble in anything is simply a signal that demand is exceeding supply for a given product.”

    Asset inflation benefits banks as it allows them to create money through the debt they issue against new mortgages, and so a bubble will inflate beyond or at least distort supply and demand. A house is worth as much as a bank will lend you to buy it.

    Auckland has an oversupply of housing which is continuing to push prices up, but these prices are totally out of whack with affordability, the third factor. People are being layed off, wages suppressed, all over the show. As the global economy continues to tank, unemployment grows, Britain, Canada and Australia see their bubble pop, I wouldn’t be surprised to see a correction in our housing even if the continues to be an under-supply.

    We can’t sustain these levels of private debt, not matter the cost of building materials.

    • vto 10.1

      ” A house is worth as much as a bank will lend you to buy it.”

      That is one of the best nutshells I have seen in a long while. Well done AAMC.

      I think it’s time for a walk in the sun.

      • AAMC 10.1.1

        very likely came out of Steve Keens mouth, have you all heard this one from him?

  11. tracey 11

    The elephant in the housing market room are aucklands unsaleable leaky homes. Apparently about 120,000 homes are essentially out of the market. No one likes to mention this part of the property problem in auckland. Most of these cant sue anyone and dont have money for the fix so their homes continue to rot

    • AAMC 11.1

      And a demographic bulge, who are the baby boomers going to sell their assets to when they want to liquidate them to fund retirement?

  12. Herodotus 12

    The banks are estimating that housing inflation will continue to rise
    https://www.mortgagewarehouse.co.nz/news/westpac-weekly-commentary-14-may-2012
    Councils are doing their bit in assisting the lack of zoned land: delaying plan change hearings, not building infrastructure to allow development to progress, planners designing rules that are not supported by the community, Watercare, lack of vision by councils and central govt !!
    Unfortunately (bar those unfortunate to have or are owing a leaky home ) we have not seen any real correction from the last housing bubble, so with this one starting to inflate there is potential for a major correction, especially should rates do what we saw in 07-08. Inflation at 2% and interest rates @ 10.4%. But on the bright side as long as we have jobs we will continue to be enslaved to the banks as they continue to lend.
    Capital gains Tax is not the golden bullet to solve the housing bubble either.

  13. Fortran 13

    Actually only 31% of Houses in New Zealand have a Mortgage.
    Say max 700,000 properties only.
    Which is why the banks fight so viciously on interest rates to get business.
    Anybody buying on today’s rates should be very very careful because rates will go up again.
    This may take 12/24 months and a jump from 5.99% currently for one year could go to 7% quite quicky as the banks results deteriorate. suddenly the payments get larger and less afordable.

    • Dv 13.1

      >>>Actually only 31% of Houses in New Zealand have a Mortgage.

      That seems low?
      Source?

Recent Comments

Recent Posts

  • Quarantine-free travel with Australia to remain suspended for a further 8 weeks
    Suspension to be reviewed again mid to late November Decision brought forward to enable access from Australia to first tranche of around 3000 rooms in MIQ Air New Zealand working at pace to put on more flights from Australia from October    The suspension of quarantine-free travel (QFT) with Australia has ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Extra support for Ethnic Communities to share vaccination information
    Extra support is being made available to Ethnic Communities to help them share COVID-19 vaccination information within their communities, Minister for Diversity, Inclusion and Ethnic Communities Priyanca Radhakrishnan said. “We know we need to get every eligible person in New Zealand vaccinated. A fund being launched today will allow for ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • School holidays remain unchanged for Auckland region
    School holidays in Auckland will continue to be held at the same time as the rest of the country, starting from Saturday, 2 October, Education Minister Chris Hipkins said today. “I’ve carefully considered advice on the implications of shifting the dates and concluded that on balance, maintaining the status quo ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government continues crackdown on gangs and organised crime
    Operation Tauwhiro extended until March 2022 Since it was launched in February, Operation Tauwhiro has resulted in:   987 firearms seized $4.99 million in cash seized 865 people charged with a firearms-related offence Gangs and organised crime groups will continue to be relentlessly targeted with the extension of Police’s successful ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Speech to Body Positive 'HIV Treatments Update Seminar 2021'
    E ngā mana E ngā reo E ngā iwi Tēnā koutou katoa Ka huri ki ngā mana whenua o te rohe nei. Tēnā koutou. He mihi hoki ki a tatou kua tau mai nei I raro I te kaupapa o te rā. Nō reira tēnā koutou katoa Acknowledgements It’s a ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • NZ economy’s strong momentum will support rebound from Delta outbreak; COVID fund replenished
    The economy showed strong momentum in the period leading up to the recent Delta COVID-19 outbreak, which bodes well for a solid economic rebound, Grant Robertson said. GDP rose 2.8 percent in the June quarter, following on from a 1.4 percent increase in the previous March quarter. This was a ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Projects create benefits into the future
    Making a well-known lake swimmable and helping to halt the decline of the endangered hoiho/yellow-eyed penguins are among a suite of new projects being supported by the Government’s Jobs for Nature programme across the southern South Island, Conservation Minister Kiri Allan says. “It’s no secret that many of our most ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Opening statement for Whāriki Indigenous Small Business Roundtable
      Kei ngā tōpito e wha o te āo e rere ana te mihi maioha ki a koutou nō tawhiti, nō tata mai e tāpiri ana ki tēnei taumata kōrero mo te ao hokohoko arā mā ngā pākihi mo ngā iwi taketake Tēnā koutou, tēnā koutou katoa – Pai Mārire.  ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New members appointed to Kāpuia
    The Government is adding four additional members to Kāpuia, the Ministerial Advisory Group on the Government’s Response to the Royal Commission of Inquiry into the terrorist attack on Christchurch mosques. “I’m looking forward to having Pamela MacNeill, Huia Bramley, Melani Anae and Katherine Dedo  join Kāpuia and contribute to this group’s ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Timeline confirmed for Emissions Reductions Plan
    Cabinet has agreed to begin consulting on the Emissions Reduction Plan in early October and require that the final plan be released by the end of May next year in line with the 2022 Budget, the Minister of Climate Change, James Shaw confirmed today. “Cabinet’s decision allows organisations and communities ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Pay parity pathway for early learning teachers confirmed
    Pay parity conditions and higher funding rates for education and care services will come into force on 1 January, 2022, Minister of Education Chris Hipkins confirmed today. The Government signalled this work in Budget 2021. “From 1 January, 2022, centres opting into the scheme will receive government funding and be ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech to the New Zealand Nurses Organisation Conference 2021
    Kia Ora tatau katoa.   Ka tuku mihi ki nga nēhi, He pou Hauora o Aotearoa, E ora ai tatou.   Whakatau mai  I runga i te kaupapa o te ra Te NZNO conference.   Tena koutou tena koutou Tena tatou katoa   Good morning, and thank you inviting me ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government investment in farmer-led catchment groups sweeps past 150 mark
    171 catchment groups have now been invested in by the Government 31 catchment groups in the Lower North Island are receiving new support More than 5,000 farmers are focussed on restoring freshwater within a generation through involvement in catchment groups  Government investment in on-the-ground efforts by farmers to improve land ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Fight to protect kauri on track
    The Government is pitching in to help vital work to protect nationally significant kauri forests in Auckland, Minister of Conservation Kiri Allan says. “Ensuring the survival of these iconic trees for future generations means doing everything we can to prevent the potential spread of kauri dieback disease,” Kiri Allan said. ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Joint statement of Mr Bernard Monk; Hon Andrew Little, Minister Responsible for Pike River Re-entry,...
    [Note: The Parties have agreed on terms to fully and finally settle the proceeding and will jointly issue the below statement.] At the heart of this litigation are the lives of the 29 men tragically lost at the Pike River mine on 19 November 2010 and to whom we pay ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • More financial support for businesses
    Today’s decision to keep Auckland in a higher COVID Alert Level triggers a third round of the Wage Subsidy Scheme which will open for applications at 9am this Friday. “The revenue test period for this payment will be the 14th to the 27th of September. A reminder that this is ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Aotearoa New Zealand provides further humanitarian support for Afghanistan
    Aotearoa New Zealand is providing a further $3 million in humanitarian assistance in Afghanistan, Foreign Minister Nanaia Mahuta announced today.  “There is significant humanitarian need in Afghanistan, with the crisis disproportionately affecting women and girls,” said Nanaia Mahuta. The UN has estimated that 80% of the quarter of a million ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Innovative te reo prediction tool announced in Te Wiki o Te Reo Māori
    A new Māori language prediction tool will play a key role in tracking our te reo Māori revitalisation efforts, Minister for Māori Development Willie Jackson announced today. He Ara Poutama mō te reo Māori (He Ara Poutama) can forecast the number of conversational and fluent speakers of te reo Māori ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Further Government support for people to access food and essential items
    The Government is responding to need for support in Auckland and has committed a further $10 million to help people access ongoing food and other essential items, Minister for Social Development Carmel Sepuloni announced today. This latest tranche is targeted at the Auckland region, helping providers and organisations to distribute ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Half a million Pfizer vaccines from Denmark
    The Government has secured an extra half a million doses of Pfizer COVID-19 vaccines from Denmark that will start arriving in New Zealand within days, Prime Minister Jacinda Ardern announced today. “This is the second and larger agreement the Government has entered into to purchase additional vaccines to meet the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Inland Revenue providing essential COVID support for businesses
    Inland Revenue is seeing increased demand for Resurgence Support Payments and other assistance schemes that it administers, but is processing applications quickly, Revenue Minister David Parker said today. David Parker said the Resurgence Support Payment, the Small Business Cashflow (loan) Scheme and the Wage Subsidy are available at the same ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand marks 20th anniversary of 9/11 attacks
    New Zealand is expressing unity with all victims, families and loved ones affected by the September 11 2001 terrorist attacks, and all terrorist attacks around the world since, including in New Zealand. “Saturday marks twenty years since the 9/11 terrorist attacks in the United States, which killed nearly 3,000 people ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to SPREP Environment Ministers
    Talofa Honourable Ulu of Tokelau Faipule Kelihiano Kalolo Tēnā koutou katoa and warm Pacific greetings from Aotearoa to your excellencies, ladies and gentlemen. The new science released by the Intergovernmental Panel on Climate Change on 8 August paints an alarming picture of the projected impacts of climate change on the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Additional Resurgence Support Payments to support business
    Businesses affected by higher Alert Levels will be able to apply for further Resurgence Support Payments (RSP). “The Government’s RSP was initially intended as a one-off payment to help businesses with their fixed costs, such as rent. Ministers have agreed to provide additional payments to recognise the effects of an ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More Dawn Raids scholarships announced
    Details of the ‘Manaaki New Zealand Short Term Training Scholarships’, a goodwill gesture that follows the Government’s apology for the Dawn Raids of the 1970s, were released today by Pacific Peoples Minister Aupito William Sio. “These scholarships that are targeted to the Pacific will support the kaupapa of the Dawn Raids’ ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • One-way quarantine-free travel for RSE workers starting in October
      One-way quarantine-free travel for Recognised Seasonal Employer (RSE) workers from Samoa, Tonga and Vanuatu starts in October New requirement for RSE workers to have received their first vaccination pre-departure, undertake Day 0 and Day 5 tests, and complete a self-isolation period of seven days, pending a negative Day 5 ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt boosts Pacific suicide prevention support
    Applications have opened for the Pacific Suicide Prevention Community Fund as the Government acts to boost support amid the COVID delta outbreak. “We know strong and connected families and communities are the most important protective factor against suicide and this $900,000 fund will help to support this work,” Health Minister ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt parks the expiry of licenses, WoFs and regos
    As a result of the Delta outbreak, driver licences, Warrants of Fitness (WoFs), Certificates of Fitness (CoFs), vehicle licences (‘regos’) and licence endorsements that expired on or after 21 July 2021 will be valid until 30 November 2021, Transport Minister Michael Wood has announced today. “While this extension won’t officially ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • COVID-19 community fund to provide support for vulnerable women and girls
    Minister for Women Jan Tinetti today announced a $2 million community fund that will provide support for women and girls adversely affected by COVID-19. “We know that women, particularly those who are already vulnerable, are disproportionally affected by the kind of economic disruption caused by COVID-19,” Jan Tinetti said. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Next phase of support for Fiji’s COVID-19 response announced
    A further NZ$12 million of support for Fiji’s COVID-19 response has been announced by Foreign Minister Hon Nanaia Mahuta today. The package builds on previous tranches of assistance Aotearoa New Zealand has provided to Fiji, totalling over NZ$50 million. “Fiji remains in a very challenging position in their response to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Robotic asparagus harvester aimed at addressing industry challenges
    The Government is backing a $5 million project to develop a commercial-scale autonomous robotic asparagus harvester, Agriculture Minister Damien O’Connor announced today. The Sustainable Food and Fibre Futures fund (SFF Futures) is contributing $2.6 million to the project. Project partner Robotics Plus Limited (RPL) will build on a prototype asparagus ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Additional Pfizer vaccines to arrive tomorrow
    More than a quarter of a million additional doses of the Pfizer vaccine are on their way from Spain to New Zealand, Prime Minister Jacinda Ardern announced today. The additional doses will arrive in Auckland on Friday morning to help meet the current surge in demand for vaccination. “It’s been ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Young people to have their voices heard in Youth Parliament 2022
    The dates and details for Youth Parliament 2022 have been announced today by Minister for Youth Priyanca Radhakrishnan, and the Speaker of the House of Representatives. Youth Parliament is an opportunity for 141 young people from across Aotearoa New Zealand to experience the political process and learn how government works. ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Boosting support for tertiary students affected by COVID-19
    Students facing a hard time as a result of COVID-19 restrictions will continue to be supported,” Education Minister Chris Hipkins confirmed today. The Government is putting a further $20 million into the Hardship Fund for Learners, which will help around 15,000 students to stay connected to their studies and learning. ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • COVID-19: Immediate relief available for Māori and iwi organisations
    The Government has reprioritised up to $5 million to provide immediate relief to vulnerable whānau Māori and communities during the current COVID-19 outbreak Minister for Māori Development Willie Jackson announced today. The COVID-19 2021 Whānau Recovery Fund will support community-driven, local responses to gaps in access and provision of critical ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • New beef genetics programme to deliver cows with smaller environmental hoof-print
    The Government is backing a genetics programme to lower the beef sector’s greenhouse gas emissions by delivering cows with a smaller environmental hoof-print, Agriculture Minister Damien O’Connor announced today. Informing New Zealand Beef is a seven-year partnership with Beef + Lamb New Zealand that is expected to result in more ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Appointments to the New Zealand Qualifications Authority
    Education Minister Chris Hipkins today announced new appointments to the board of the New Zealand Qualifications Authority (NZQA). Former Associate Minister of Education, Hon Tracey Martin, has been appointed as the new Chair for NZQA, replacing the outgoing Acting and Deputy Chair Professor Neil Quigley after an 11-year tenure on ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Govt supports residential house building by allowing manufacture of building supplies
    The Government has agreed to allow some building product manufacturing to take place in Auckland during Covid lockdown to support continued residential construction activity across New Zealand. “There are supply chain issues that arise from Alert Level 4 as building products that are manufactured domestically are mostly manufactured in Auckland. ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Government invests in scientific research to boost economy, address climate change and enhance wellb...
    Research, Science and Innovation Minister Hon Dr Megan Woods has today announced the recipients of this year’s Endeavour Fund to help tackle the big issues that New Zealanders care about, like boosting economic performance, climate change, transport infrastructure and wellbeing. In total, 69 new scientific research projects were awarded over ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Transport to drive economic recovery
    The Government is investing a record amount in transport services and infrastructure to get New Zealand moving, reduce emissions and support the economic recovery, Transport Minister Michael Wood announced today. The 2021-24 National Land Transport Programme (NLTP) was released today which outlines the planned investments Waka Kotahi NZ Transport Agency ...
    BeehiveBy beehive.govt.nz
    2 weeks ago