Mortgagee sales

Written By: - Date published: 10:14 am, May 25th, 2015 - 21 comments
Categories: economy, housing, spin - Tags: , ,

Interesting piece in The Herald this morning:

Property: Marked drop in mortgagee sales

Figures released exclusively to the Herald by data analysis company CoreLogic show 95 properties defaulted in the first quarter of 2015 and 723 in the year to March 31.

In comparison, 198 foreclosures occurred in the previous three-month period and 1133 properties defaulted in the year to March 2014.

Good news?

Experts say the fall in mortgagee sales reflects strengthening economic conditions, solid employment figures and near record-low home loan interest rates, making it easier for homeowners to afford repayments.

I’m not an “expert” on anything much, but I call bullshit on those explanations. Strengthening economic conditions? Outside the Christchurch rebuild not so much, and growth is low in historical terms. Solid employment figures? No not really, and many of the new jobs are part time / zero hours – not going to pay a mortgage. Low interest rates? Yes, but they have been low for ages.

No the “experts” are missing an obvious and much more significant factor. House prices in Auckland are going up almost $1K per day. How can that not factor in an “analysis”?

My guess is that mortgagee sales are falling because ordinary people are no longer buying houses in Auckland. The balance is shifting towards the only people buying being cashed-up multi-property owning speculators and overseas buyers. The sort of people with the resources not to default on a mortgage. Ordinary Kiwis are being excluded.

But hey what do I know, I’m not an “expert”.

21 comments on “Mortgagee sales ”

  1. mickysavage 1

    Yep fewer ordinary people owning houses.

    Also a mortgagee sale is often evidence of desperation where someone owes more than the property is worth. With rampant growth in value it is much easier for someone in financial stress to sell and get on with things. Mortgagee sales are very prominent when house prices are falling.

    • Colonial Rawshark 1.1

      Relatively recent requirement for 20% (and in some cases going up to 30%) deposits might mean that fewer recent home buyers are going to be underwater on their properties. As opposed to those who went in with 5% or 10% deposits a few years back.

  2. Draco T Bastard 2

    No not really, and many of the new jobs are part time / zero hours – not going to pay a mortgage.

    Which should tell who’s actually buying up the houses and it isn’t the ordinary person but the speculators looking for capital gains and the rentiers looking to bludge off the less fortunate.

  3. Peter 3

    A property writer in Saturdays NZH discusses the NZ Immigration investment scheme which allows people with $10,000,000 or more to invest in NZ.

    According to the NZ Immigration website acceptable investments includes:

    “New residential property development that is not for the investor’s personal use and designed to make a commercial return on the open market.”

    The article unsurprisingly suggests that those with $10,000,000 will always beat local first home buying Kiwis’ at auction. Presumably “commercial return on the open market” includes tax free capital gains?

    So is this National foreign investment policy a significant reason for rampant Auckland house inflation, or am I missing something?

  4. Lanthanide 4

    Another aspect not mentioned, is that mortgagee sales are a last resort by the bank. They’re generally a lose-lose situation for everyone involved.

    In a rapidly rising and buoyant property market, when house owners see the writing on the wall re: mortgage payments, they’re in a much better position to sell the house on the market themselves, when any sort of crap property in any sort of condition will be valuable for its land.

    They’re much less likely to be stuck in a negative equity position where selling the property would leave them massively in the hole.

    So what would be interesting is not just the number of mortgagee sales, but the regions in which they’re occurring – I bet we’d see a lower per-capita figure in Auckland compared to historical norms.

    • Mike S 4.1

      “…a lose-lose situation for everyone involved.”

      Not for the bank, which has put nothing up front and has risked nothing. Ok so they lose 25 years worth of interest payments, but a mortgagee sale doesn’t make it (the bank) any worse off than it was before the mortgage contract was initiated.

  5. infused 5

    If I had property in Auckland, i’d be cashing out this year. Expect a few more mortgagee sales over the next few years.

    • felix 5.1

      Yep.

      As long as you didn’t have to live there of course, in which case you’d still need a house.

  6. Sable 6

    Well said. Yet more bullshit from the MSM.

  7. DoublePlusGood 7

    Also, house prices in Auckland are rising so fast that if you’re getting into trouble with a mortgage, you can just sell the property for a mint and clear the mortgage, plus extra, long before the bank would force you to sell.

  8. aerobubble 8

    Mortgagee sales. A thing to be avoided. So it would follow that a decline would show more people are. And that Banks are not forcing mortgagee sales. Not a surprise in a climbing market, inside the box of Auckland.

    Look, the market responses. People double up housing, double up to get into the property market. The bubble market is like a crashing wave at the beach, in slow motion, its good for a time to sit on the sea floor as the water recedes, I.e rent and then jump in after the crash. its also smarter to rent but have a partial foot in the market by share buying a house, and get a guaranteed rental from one of the sharers.

    Here’s how it looks, a lot of wealthy Chinese, Indian, etc have been introduced to the nz economy, Key’s million dollar migrant program. You know, ground zero migrant sitcom. Well now its your duty to feed off the investment in nz, but doubling up, renting, saving an d turning over houses further and further at the edge, the new suburb, the up and coming, etc.

    The bubble crashes when the no.s of million dollar migrants drops and the limits of Auckland are hit. A saturated box is dropped at a great height onto the nz economy.

    MSM will not tell you the truth, Key created huge demand by opening the door to money. Our housing bubble, and its pain is down to Key’s immigration policy.

  9. McFlock 9

    I suppose that the fact that the number of mortgages has been decreasing for the past two years (comparing quarter w/corresponding quarter in previous year) is also the sign of a robust economy…

  10. The Gormless Fool formerly known as Oleolebiscuitbarrell 10

    But hey what do I know, I’m not an “expert”.

    No, you’re not, are you.

    It’s not that ordinary people aren’t buying houses. It’s that, once they do, if they get in to trouble, they can sell (not at mortgagee’s sale) and the increase in value will have fixed the problem.

  11. John 11

    When house prices go up mortgagee sales are low.

    When house prices go down mortgagee sales are high.

    It’s not rocket science.

    So when only 1.8% of NZ houses (30,260) were bought and sold in Auckland in the last year, and only a portion of those were bought by “cashed-up multi-property owning speculators and overseas buyers” it’s a bit rediculous to try to claim they are having an effect on the large drop in mortgagee sales in the other 1,600,000 houses.

  12. Brutus Iscariot 12

    “My guess is that mortgagee sales are falling because ordinary people are no longer buying houses in Auckland. The balance is shifting towards the only people buying being cashed-up multi-property owning speculators and overseas buyers.”

    Good lateral thinking, but a fairly asinine conclusion.

    You can run soundbites about Auckland being owned exclusively by Asian multimillionaires and boomer speculators, but the fact is the vast majority of the Auckland housing stock is held by longstanding owner occupier homeowners.

    Mortgagee sales will increase if and when unemployment increases, coincident with a rising interest rate environment and a housing market that flattens off.

    There will certainly be a lot of people of late who have mortgaged themselves to the hilt to just be able to afford something, and this is the demographic that the problems will be concentrated in, when any little rise in interest rates might tip them over the edge. Let alone job losses etc.

    As an aside, It’s not just the poor or middle class either who cop mortgagee sales. High salary earners in cyclical industries often overextend themselves with borrowing to keep up with the Joneses. This is often why high end properties enjoy the largest % swings up and down in a boom and then recessionary environment.

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    Point of OrderBy poonzteam5443
    5 days ago
  • The hunt is on for an asterix for farm emissions
    The Government is setting up its own experts group to review the goalposts for farmers to reduce methane emissions. Photo: Lynn Grieveson / The KākāTL;DR: The six news items of note for me in Aotearoa-NZ’s political economy as of 9:06 am on Monday, April 8 are:The Government is setting up ...
    The KakaBy Bernard Hickey
    5 days ago
  • Geoffrey Miller: Aukus or not, New Zealand’s foreign policy is being remade
    This could be a watershed week for New Zealand’s international relations. Winston Peters, the foreign minister, is heading to Washington DC for a full week of meetings. The surprisingly lengthy trip just happens to coincide with a major trilateral summit of leaders from the United States, Japan and the Philippines. ...
    Democracy ProjectBy Geoffrey Miller
    5 days ago
  • The Kaka’s diary for the week to April 15 and beyond
    TL;DR: The six key events to watch in Aotearoa-NZ’s political economy in the week to April 15 include:PM Christopher Luxon is scheduled to hold a post-Cabinet news conference at 4 pm today. The Climate Commission will publish advice to the Government this evening.Parliament is sitting from Question Time at 2pm ...
    The KakaBy Bernard Hickey
    5 days ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #14
    A listing of 34 news and opinion articles we found interesting and shared on social media during the past week: Sun, March 31, 2024 thru Sat, April 6, 2024. Story of the week Proxy measurement via Facebook "engagement" suggests a widely welcoming audience for Prof. Andrew Dessler's The Climate ...
    5 days ago
  • Their Money or Your Life.
    Brooke van Velden appeared this morning on Q&A, presumably paying homage to Margaret Thatcher. The robotic one had come in an 80s pink, shoulder-padded jacket, much favoured by the likes of Thatcher or Hosking. She also brought the spirit of Margaret, seemingly occupying her previously vacant soul compartment.Jack asked for ...
    Nick’s KōreroBy Nick Rockel
    6 days ago
  • Truth pulls its boots on
    It's a lot easier to pull off a lie if people don't know much about what you're lying about.Sometimes, watching Christopher Luxon, you get the impression he doesn't know all that much about it, either.​​ That's the charitable interpretation. The other is that he knows full well.He was on the ...
    More Than A FeildingBy David Slack
    6 days ago
  • Those of a certain vintage in this country will recognise that as a paraphrasing of the much celebrated Paul Holmes sign-off from his nightly current affairs show, yes, he of the “cheekie darkie” comment infamy (that one aimed at then-UN Chief Kofi Annan, and if unfamiliar with what followed in ...
    exhALANtBy exhalantblog
    6 days ago
  • Are You Missing Kindness Yet?
    In my last newsletter I asked how is Luxon this out of touch? Many of you, quite wisely, don’t do the Twitter thing so I thought I’d share a few of the comments from the cross section of humanity that you encounter there.The comment from Clandesdiner@boglyboohoo, not sure if that’s ...
    Nick’s KōreroBy Nick Rockel
    7 days ago
  • How NZ and Taiwan differ in disaster preparedness
    Peter Dunne writes –  Taiwan and New Zealand are two small island states with much in common. Both are vibrant, independent democracies, living in the shadow of an overbearing neighbour. (Admittedly, Taiwan’s overbearing neighbour has far more aggressive tendencies than our at-times overbearing neighbour!) There is a strong ...
    Point of OrderBy poonzteam5443
    7 days ago
  • Why Shane Jones sunk the Kermadecs Marine Sanctuary
    Bryce Edwards writes – Did vested interests prevent New Zealand from establishing a world-leading environmental marine reserve? There are strong signs that in killing off the proposal for a Kermadec Islands Marine Sanctuary, Shane Jones has been doing the bidding of several industries and groups that he’s closely ...
    Point of OrderBy Bob Edlin
    7 days ago
  • Nearly a month of it
    Hello! There has not been an omnibus for about three weeks because covid and bereavement got in the way.Here’s what you may have missed if you’re not a daily reader.Life’s Little Victories - I think I’ve dodged COVIDTwo Bar Blues - I haven’t Relentlessly Negative - Things seem to be ...
    More Than A FeildingBy David Slack
    7 days ago
  • Coastal court action flies under the radar
    Graham Adams says NZ’s coastline may end up under iwi control. Former Attorney-General and Minister for Treaty of Waitangi Negotiations Chris Finlayson is known for his forthright and sometimes combative language. In 2022, in discussing opposition to co-governance, he referred to “the sour right” and “the KKK brigade”. Last week, in ...
    Point of OrderBy gadams1000
    1 week ago
  • Does a Fiscal Debt Target Make Sense?
    Do we treat the government finances with the common sense that household’s manage theirs?It is a commonly held view that we should treat the government as if it is a prudent household. We don’t when it comes to its debt. Currently the government says it wants to constrain its net ...
    PunditBy Brian Easton
    1 week ago
  • Bryce Edwards: Why Shane Jones sunk the Kermadecs Marine Sanctuary
    Did vested interests prevent New Zealand from establishing a world-leading environmental marine reserve? There are strong signs that in killing off the proposal for a Kermadec Islands Marine Sanctuary, Shane Jones has been doing the bidding of several industries and groups that he’s closely connected with. As Oceans and Fisheries ...
    Democracy ProjectBy bryce.edwards
    1 week ago
  • Climate Change: Spite destroys success
    The clean car discount was a real policy success in pushing electrification of transport. It worked so well that EV adoption was running five years ahead of the Climate Commission's targets, giving us a real shot at decarbonising light transport. National killed it out of pure spite. And as expected, ...
    No Right TurnBy Idiot/Savant
    1 week ago

  • Huge interest in Government’s infrastructure plans
    Hundreds of people in little over a week have turned out in Northland to hear Regional Development Minister Shane Jones speak about plans for boosting the regional economy through infrastructure. About 200 people from the infrastructure and associated sectors attended an event headlined by Mr Jones in Whangarei today. Last ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Health Minister thanks outgoing Health New Zealand Chair
    Health Minister Dr Shane Reti has today thanked outgoing Health New Zealand – Te Whatu Ora Chair Dame Karen Poutasi for her service on the Board.   “Dame Karen tendered her resignation as Chair and as a member of the Board today,” says Dr Reti.  “I have asked her to ...
    BeehiveBy beehive.govt.nz
    12 hours ago
  • Roads of National Significance planning underway
    The NZ Transport Agency (NZTA) has signalled their proposed delivery approach for the Government’s 15 Roads of National Significance (RoNS), with the release of the State Highway Investment Proposal (SHIP) today, Transport Minister Simeon Brown says.  “Boosting economic growth and productivity is a key part of the Government’s plan to ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Navigating an unstable global environment
    New Zealand is renewing its connections with a world facing urgent challenges by pursuing an active, energetic foreign policy, Foreign Minister Winston Peters says.   “Our country faces the most unstable global environment in decades,” Mr Peters says at the conclusion of two weeks of engagements in Egypt, Europe and the United States.    “We cannot afford to sit back in splendid ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • NZ welcomes Australian Governor-General
    Prime Minister Christopher Luxon has announced the Australian Governor-General, His Excellency General The Honourable David Hurley and his wife Her Excellency Mrs Linda Hurley, will make a State visit to New Zealand from Tuesday 16 April to Thursday 18 April. The visit reciprocates the State visit of former Governor-General Dame Patsy Reddy ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Pseudoephedrine back on shelves for Winter
    Associate Health Minister David Seymour has announced that Medsafe has approved 11 cold and flu medicines containing pseudoephedrine. Pharmaceutical suppliers have indicated they may be able to supply the first products in June. “This is much earlier than the original expectation of medicines being available by 2025. The Government recognised ...
    BeehiveBy beehive.govt.nz
    18 hours ago
  • NZ and the US: an ever closer partnership
    New Zealand and the United States have recommitted to their strategic partnership in Washington DC today, pledging to work ever more closely together in support of shared values and interests, Foreign Minister Winston Peters says.    “The strategic environment that New Zealand and the United States face is considerably more ...
    BeehiveBy beehive.govt.nz
    21 hours ago
  • Joint US and NZ declaration
    April 11, 2024 Joint Declaration by United States Secretary of State the Honorable Antony J. Blinken and New Zealand Minister of Foreign Affairs the Right Honourable Winston Peters We met today in Washington, D.C. to recommit to the historic partnership between our two countries and the principles that underpin it—rule ...
    BeehiveBy beehive.govt.nz
    22 hours ago
  • NZ and US to undertake further practical Pacific cooperation
    Foreign Minister Winston Peters has announced further New Zealand cooperation with the United States in the Pacific Islands region through $16.4 million in funding for initiatives in digital connectivity and oceans and fisheries research.   “New Zealand can achieve more in the Pacific if we work together more urgently and ...
    BeehiveBy beehive.govt.nz
    23 hours ago
  • Government redress for Te Korowai o Wainuiārua
    The Government is continuing the bipartisan effort to restore its relationship with iwi as the Te Korowai o Wainuiārua Claims Settlement Bill passed its first reading in Parliament today, says Treaty Negotiations Minister Paul Goldsmith. “Historical grievances of Te Korowai o Wainuiārua relate to 19th century warfare, land purchased or taken ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Focus on outstanding minerals permit applications
    New Zealand Petroleum and Minerals is working to resolve almost 150 outstanding minerals permit applications by the end of the financial year, enabling valuable mining activity and signalling to the sector that New Zealand is open for business, Resources Minister Shane Jones says.  “While there are no set timeframes for ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Applications open for NZ-Ireland Research Call
    The New Zealand and Irish governments have today announced that applications for the 2024 New Zealand-Ireland Joint Research Call on Agriculture and Climate Change are now open. This is the third research call in the three-year Joint Research Initiative pilot launched in 2022 by the Ministry for Primary Industries and Ireland’s ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Tenancy rules changes to improve rental market
    The coalition Government has today announced changes to the Residential Tenancies Act to encourage landlords back to the rental property market, says Housing Minister Chris Bishop. “The previous Government waged a war on landlords. Many landlords told us this caused them to exit the rental market altogether. It caused worse ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Boosting NZ’s trade and agricultural relationship with China
    Trade and Agriculture Minister Todd McClay will visit China next week, to strengthen relationships, support Kiwi exporters and promote New Zealand businesses on the world stage. “China is one of New Zealand’s most significant trade and economic relationships and remains an important destination for New Zealand’s products, accounting for nearly 22 per cent of our good and ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Freshwater farm plan systems to be improved
    The coalition Government intends to improve freshwater farm plans so that they are more cost-effective and practical for farmers, Associate Environment Minister Andrew Hoggard and Agriculture Minister Todd McClay have announced. “A fit-for-purpose freshwater farm plan system will enable farmers and growers to find the right solutions for their farm ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New Fast Track Projects advisory group named
    The coalition Government has today announced the expert advisory group who will provide independent recommendations to Ministers on projects to be included in the Fast Track Approvals Bill, say RMA Reform Minister Chris Bishop and Regional Development Minister Shane Jones. “Our Fast Track Approval process will make it easier and ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Pacific and Gaza focus of UN talks
    Foreign Minister Winston Peters says his official talks with the United Nations Secretary-General Antonio Guterres in New York today focused on a shared commitment to partnering with the Pacific Islands region and a common concern about the humanitarian catastrophe in Gaza.    “Small states in the Pacific rely on collective ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government honours Taranaki Maunga deal
    The Government is honouring commitments made to Taranaki iwi with the Te Pire Whakatupua mō Te Kāhui Tupua/Taranaki Maunga Collective Redress Bill passing its first reading Parliament today, Treaty Negotiations Minister Paul Goldsmith says. “This Bill addresses the commitment the Crown made to the eight iwi of Taranaki to negotiate ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Enhanced partnership to reduce agricultural emissions
    The Government and four further companies are together committing an additional $18 million towards AgriZeroNZ to boost New Zealand’s efforts to reduce agricultural emissions. Agriculture Minister Todd McClay says the strength of the New Zealand economy relies on us getting effective and affordable emission reduction solutions for New Zealand. “The ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • 110km/h limit proposed for Kāpiti Expressway
    Transport Minister Simeon Brown has welcomed news the NZ Transport Agency (NZTA) will begin consultation this month on raising speed limits for the Kāpiti Expressway to 110km/h. “Boosting economic growth and productivity is a key part of the Government’s plan to rebuild the economy and this proposal supports that outcome ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New Zealand Biosecurity Awards – Winners announced
    Two New Zealanders who’ve used their unique skills to help fight the exotic caulerpa seaweed are this year’s Biosecurity Awards Supreme Winners, says Biosecurity Minister Andrew Hoggard. “Strong biosecurity is vital and underpins the whole New Zealand economy and our native flora and fauna. These awards celebrate all those in ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Attendance action plan to lift student attendance rates
    The Government is taking action to address the truancy crisis and raise attendance by delivering the attendance action plan, Associate Education Minister David Seymour announced today.   New Zealand attendance rates are low by national and international standards. Regular attendance, defined as being in school over 90 per cent of the ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • World must act to halt Gaza catastrophe – Peters
    Foreign Minister Winston Peters has told the United Nations General Assembly (UNGA) in New York today that an immediate ceasefire is needed in Gaza to halt the ongoing humanitarian catastrophe.    “Palestinian civilians continue to bear the brunt of Israel’s military actions,” Mr Peters said in his speech to a ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech to United Nations General Assembly: 66th plenary meeting, 78th session
    Mr President,   The situation in Gaza is an utter catastrophe.   New Zealand condemns Hamas for its heinous terrorist attacks on 7 October and since, including its barbaric violations of women and children. All of us here must demand that Hamas release all remaining hostages immediately.   At the ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government woolshed roadshow kicks off
    Today the Government Agriculture Ministers started their national woolshed roadshow, kicking off in the Wairarapa. Agriculture Minister Todd McClay said it has been a tough time for farmers over the past few years. The sector has faced high domestic inflation rates, high interest rates, adverse weather events, and increasing farm ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • PM heads to Singapore, Thailand, and Philippines
    Prime Minister Christopher Luxon will travel to Singapore, Thailand and the Philippines this week (April 14-20), along with a senior business delegation, signalling the Government’s commitment to deepen New Zealand’s international engagement, especially our relationships in South East Asia. “South East Asia is a region that is more crucial than ever to ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Prime Minister launches Government Targets
    Prime Minister Christopher Luxon has announced further steps to get New Zealand back on track, launching nine ambitious Government Targets to help improve the lives of New Zealanders. “Our Government has a plan that is focused on three key promises we made to New Zealanders – to rebuild the economy, ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Natural hydrogen resource should be free of Treaty claims entanglement
    Natural hydrogen could be a game-changing new source of energy for New Zealand but it is essential it is treated as a critical development that benefits all New Zealanders, Resources Minister Shane Jones says. Mr Jones is seeking to give regulatory certainty for those keen to develop natural, or geological, ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government responds to unsustainable net migration
    ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand on stage at global Space Symposium
    Space Minister Judith Collins will speak at the Space Symposium in the United States next week, promoting New Zealand’s rapidly growing place in the sector as we work to rebuild the economy. “As one of the largest global space events, attended by more than 10,000 business and government representatives from ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • $4.9m project completed with marae reopening
    A significant marae has reopened in the heart of Rotorua marking the end of renovations for the Ruatāhuna Marae Renovation Cluster, a project that provided much-needed jobs and regional economic stimulus, Regional Development Minister Shane Jones says. Mr Jones was at the official reopening of Mātaatua ki Rotorua Marae today. ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Pure Tūroa Limited to operate Tūroa ski field
    Ko Tahuarangi te waka – Tahuarangi is the ancestral vessel Ko Rangitukutuku te aho – Rangitukutuku is the fishing line Ko Pikimairawea te matau – Pikimairawea is the hook Ko Hāhā te Whenua te ika kei rō-wai – Hāhā te whenua is the fish (of Māui) whilst under the ocean ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Methane targets to be independently reviewed
    Rebuilding New Zealand’s economy will rely on the valuable agricultural sector working sustainably towards our climate change goals.  Today, the Climate Change and Agriculture Ministers announced that an independent panel of experts will review agricultural biogenic methane science and targets for consistency with no additional warming. Agriculture Minister Todd McClay ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • NZ and Nordics: likeminded partners
    Foreign Minister Winston Peters has highlighted the strong ties that bind New Zealand and the Nordic countries of Northern Europe during a trip to Sweden today.    “There are few countries in the world more likeminded with New Zealand than our friends in Northern Europe,” Mr Peters says.    “We ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • First New Zealand C-130J Hercules takes flight
    The first New Zealand C-130J Hercules to come off the production line in the United States has successfully completed its first test flights, Defence Minister Judith Collins announced today. “These successful flights are a significant milestone for the New Zealand Defence Force, bringing this once-in-a-generation renewal of a critical airlift ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government to rephase NCEA Change Programme
      The coalition Government is making significant changes to the NCEA Change Programme, delaying the implementation by two years, Minister of Education Erica Stanford announced today. “Ensuring New Zealand’s curriculum is world leading is a vital part of the Government’s plan to deliver better public services and ensure all students ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Ngāpuhi investment fund Chair appointed
    Ben Dalton has been appointed the new board Chair of Tupu Tonu, the Ngāpuhi Investment Fund, says Treaty Negotiations Minister Paul Goldsmith and Associate Finance Minister Shane Jones. “Ben brings a wealth of experience in governance and economic development to the position. He will have a strong focus on ensuring ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Education should be prioritised ahead of protesting
    Students should be in school and learning instead of protesting during school hours, Associate Education Minister David Seymour says. “If students feel strongly about sending a message, they could have marched on Tuesday when there was a nationwide teacher only day, or during the upcoming school holidays. It has become ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Delivering on Local Water Done Well
    Cabinet has agreed on key steps to implement Local Water Done Well, the Coalition Government’s plan for financially sustainable locally delivered water infrastructure and services, Local Government Minister Simeon Brown says.  "Councils and voters resoundingly rejected Labour’s expensive and bureaucratic Three Waters regime, and earlier this year the Coalition Government ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Peters to visit New York, Washington D.C.
    Foreign Minister Winston Peters will engage with high-level United States Government and United Nations officials in the United States next week (6-12 April).    The visit, with programmes in New York and Washington D.C., will focus on major global and regional security challenges and includes meetings with US Secretary of ...
    BeehiveBy beehive.govt.nz
    1 week ago

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