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Open Banking Coming to NZ by Christmas
Open Banking Coming to NZ by Christmas

03 May 2025, 3:14 AM

The Government is pushing ahead with plans to bring open banking to New Zealand by Christmas, Commerce and Consumer Affairs Minister Scott Simpson announced.The move follows the passing of the Customer and Product Data Act, a key part of the Government's action plan to improve competition in crucial sectors like banking and energy. Cabinet has agreed to make banking the first sector to operate under the new Act, setting the stage for open banking.Under the new framework, customers will be able to give third-party companies access to their banking data. Fintechs can then use this data to develop innovative services like faster payments, streamlined mortgage comparisons, and apps that help consumers save money. The big four banks – ANZ, ASB, BNZ, and Westpac – will need to have their systems ready by December 1, while Kiwibank has until June 2026.For Coasties, this means more options and better deals when it comes to managing money, paying bills, or finding the best mortgage rates. Small local businesses might also benefit from the increased competition between banks, as new financial services could offer them better solutions for managing cash flow or processing payments more efficiently. This change could even encourage more innovation in the local financial tech space, leading to new products and services designed specifically for the needs of our community.The new policy is aimed at increasing competition and lowering costs for Kiwis. Minister Simpson says the Government is committed to improving consumer choice and ensuring the banking sector works for everyone. Open banking has already seen success overseas, with apps that help Australians quickly find and cancel forgotten subscriptions or streamline home loan applications.With the introduction of open banking, New Zealand is set to see more competitive and innovative offerings in the market, just in time for Christmas. This shift will give consumers greater control over their finances and more options when choosing banking services.Seen something local we should cover?Let us know at [email protected]

NZ's biggest bank downgrades house price forecast
NZ's biggest bank downgrades house price forecast

02 May 2025, 11:31 PM

New Zealand's biggest bank says house prices should lift more meaningfully over the second half of this year, but values are likely to only rise 4.5 percent in 2025, not the 6 percent it previously forecast.ANZ's economists noted house sales rose 3.4 percent in March but the strong flow of new listings meant buyers had significant choice.The total amount of stock on the market lifted 0.6 percent in March on a seasonally adjusted basis and was the highest in 10 years."Prices will start to lift more meaningfully once the excess inventory has been worked through and that will take time."They said with Auckland's housing market stock at the highest level since 2011, it was not surprising sellers were being more realistic about their asking prices."The sales-to-listings ratio is a useful indicator of heat in the housing market and tends to give a three- to six-month lead on house price momentum."A decent bounce in sales volumes in March was largely offset by another lift in listings, and the sales-to-listings ratio remains consistent with lacklustre growth in house prices in the near term."They said the auction clearance rate had also been steady at around 40 percent in recent months."The median days to sell were steady in March at 46 seasonally adjusted, still a long way north of the long-run historic average of 29."It's been hovering around that level for several months now. While that's consistent with the housing market having stabilised, we'd need to see median days to sell beginning to fall before one could conclude the market is on a tightening trajectory."All together, the factors indicated the market was stabilising but "not going anywhere fast".They said the Reserve Bank was likely to cut the official cash rate twice more, to a low of 2.5 percent, where it would remain for a year or so."That will underpin housing market momentum further out. It's important to stress that while the here and now remains tough-going the economy is on an improving trajectory."They said global turmoil was a headwind and there was uncertainty about how it would play out for New Zealand as a whole, and the housing market.

Bank security changes hitting owners of older phones
Bank security changes hitting owners of older phones

02 May 2025, 5:44 AM

A woman is concerned that changes by BNZ to the way that people access internet banking could affect people who have older smartphones, or do not have one at all. BNZ has written to customers telling them that NetGuard cards, which are used as a method of two-step authentication for online banking, will be removed as a way to confirm identity.Instead, people would need to use the app.But Judith, who did not want to be identified, said her husband's phone was from 2017 and the app would not work on it."This is entirely wrong in many ways. As a customer, you don't have any choice about this change, although we have done online banking for many years, we don't ever do banking on our phones, presumably they expect us all to buy a new phone."Gayle Chambers, national president of Grey Power, said it was something her organisation needed to look into.A BNZ spokesperson said the bank was always looking for ways to upgrade its security measures."We understand some customers' disappointment about the phasing out of NetGuard cards as an authentication method and our teams are available in branch, online or on the phone to help customers manage this change."NetGuard cards were first introduced in 2006. However, since then industry standards and two-step authentication methods have evolved, along with the functionality of our BNZ app. This means NetGuard cards are no longer the most secure method for authentication."Unfortunately, we have seen a number of customers who have been convinced to share the details of their NetGuard card with scammers. Once these details have been shared, it is almost impossible to protect a customer's money."She said over time mobile phone manufacturers would discontinue support for hardware and not provide system updates for older devices."This poses a security risk as customers are less likely to be able to install security patches, leaving their devices more vulnerable. It also becomes increasingly difficult for us to maintain the functionality of older applications across an increasing number of older operating systems and devices."She said customers without the BNZ app could still log in to internet banking with their access number and password. It would also not affect customers shopping with a credit or debit card."Additional authentication is only required for high-risk transactions, such as paying someone new, creating and editing payees, updating their contact information and international payments. In these situations, customers are able to contact our team either through phone banking or in branch, to help them complete two-factor authentication."Paul Brislen, chief executive of the Telecommunications Forum, said the situation was inevitable."The authenticator apps are free and easy to use but do need a modern phone … but by modern I mean one that is still supported by the software vendor. "He said while people might be happy with a phone from 2017, the software was not supported and the phone was exposed to security breaches.He said such a device should not be used for banking."We're in the throes of shutting down the 3G networks too so this will encourage a number of customers to upgrade to more capable devices shortly and the number of affected parties will drop to around zero."

Penlink Project Updates for Coasties
Penlink Project Updates for Coasties

02 May 2025, 2:00 AM

The Penlink project continues to take shape, and locals should be aware of upcoming works that may impact travel on the Hibiscus Coast.On the nights of 6 and 7 May, there will be a full closure of SH1 between Oteha Valley Road and Silverdale to allow for concrete pouring on the new overbridge. Please plan accordingly.During the closure, earthworks teams will also continue shaping the northbound offramp to connect to the new road.Work continues along Ara Weiti Road, with paving trials, the construction of MSE walls at Link Road 1, and retaining wall works at Link Road 2.In the Stillwater area, large deliveries for the tower crane will begin in late May.The crane will be erected on-site, and piling work will continue for its support base. Please take care when encountering pilot vehicles.The river-based piers continue to grow in height, with the crane's boom extension taking place this month.In Whangaparāoa, the construction of the new intersection at Beverley and Whangaparāoa Roads will begin this month.Night works will be required on Sunday 11 and Monday 12 May from 8 pm to 1 am, with stop/go traffic management between Beverley and Brightside Roads.For those in the community concerned about the two-lane highway design, NZTA explains that traffic modelling shows this will meet expected demand through the late 2020s and 2040s, with the potential for expansion to four lanes when needed.Additionally, the raised crossing on East Coast Road will remain in use for construction vehicles until the project concludes later this year, ensuring worker and public safety.A new video showcasing the Penlink flyover is now available for viewing – watch it to get a closer look at the progress of the project.Finally, a series of short-term closures of the Wēiti River are scheduled for mid-May to enable the safe transfer of concrete for the Pier 4 pile cap.The first closure will run from 5 pm on 13 May to 9 am on 15 May, with a backup from 20 May to 22 May. These closures will not affect downstream vessel navigation.Seen something local we should cover?Let us know at [email protected]

Blues Name Refreshed Team for Force
Blues Name Refreshed Team for Force

01 May 2025, 11:46 PM

The Blues have named a fresh line-up for their crucial Round 12 clash against the Western Force at Eden Park tonight, as they aim to make a statement in front of their home fans.Dalton Papali’i returns to the starting XV at openside flanker after recovering from an ankle injury, bringing much-needed experience to the loose trio alongside Anton Segner and Hoskins Sotutu.Meanwhile, Laghlan McWhannell steps into the second row, partnering with captain Patrick Tuipulotu, and Marcel Renata returns at tighthead prop following a calf strain.Ricky Riccitelli gets the nod at hooker after impressing from the bench in Round 11, with Kurt Eklund moving to the reserves.Taufa Funaki slots in at halfback, and Beauden Barrett is back at first five.In a notable move, 20-year-old Xavi Taele will start at second five, fresh off re-signing with the Blues for another season.AJ Lam shifts to the left wing in place of the suspended Mark Tele’a, with Cole Forbes remaining on the right wing.Stephen Perofeta completes the backline at fullback.It’s a special night for flanker Adrian Choat, who will earn his 50th Blues cap off the bench.Head coach Vern Cotter is excited about the challenge ahead.“We know the Force are a very good team, so we need to lift our intensity to compete well on Friday night,” Cotter said.“Consistency is key in these next four games, and I’m confident the team is ready to step up.”The Blues are gearing up for a tough battle, but they’ll be looking to make a statement with their refreshed lineup, especially with fans back at Eden Park.Seen something local we should cover?Let us know at [email protected]

Why New Zealand's EV Market Feels Boring
Why New Zealand's EV Market Feels Boring

01 May 2025, 8:10 PM

Electric vehicles (EVs) are slowly making their way onto New Zealand’s roads, but the country’s EV market is far from thrilling.Despite growing environmental awareness, the shift to electric is slowing in 2025, as high prices, limited model variety, and recent policy changes dampen consumer enthusiasm.As of early 2025, electric vehicles, including both Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs), make up just 7.3% of new vehicle sales.This is a dramatic drop from nearly 25% in 2023.BEVs alone account for only 5.5% of new registrations, reflecting the market’s stagnation.The reasons? High upfront costs, a lack of exciting models, and shifting government policies.One major reason for the lack of excitement in the local market is the limited selection of EVs.For instance, the Toyota BZ4X has been described as “boring,” with critics saying it feels like a first-generation EV—missing the advanced features that modern drivers expect.New Zealand buyers are drawn to cost-effective options, with entry-level EVs starting around $50,000 and the median price of a new EV sitting at about $80,000.New Zealand's EV infrastructure is also lagging behind, with far fewer public charging stations than petrol stations.EV Charging stations on the Hibiscus CoastThis underdeveloped infrastructure further encourages buyers to stick with practical, range-focused models.As a result, the sleek, cutting-edge EVs seen in other parts of the world are not yet available here.This stands in stark contrast to what was showcased at the 2025 Shanghai Auto Show.Chinese manufacturers unveiled some of the most stylish, tech-loaded EVs on the market, many of which are surprisingly affordable.During a recent visit to China, it was clear that EVs from local Chinese brands are dominating the streets.Meanwhile, the likes of Kia and Nissan are barely visible.This begs the question—why isn’t New Zealand offering similar options?Compounding the issue, recent government policy changes, such as the removal of EV subsidies and the introduction of road user charges, have made electric vehicles more expensive.These shifts are driving many buyers to hybrid or petrol-powered vehicles, especially in the premium or performance segments.The contrast with Australia’s more mature EV market also puts New Zealand’s situation into perspective.As of March 2025, Australia's EV market share is 14.5%, almost double New Zealand’s.Australia’s influence means that many models available there eventually make their way to New Zealand, but often with higher price tags due to stricter regulations and increasing competition.Though New Zealand’s EV market is still in its early stages, there’s hope that as the infrastructure improves and policies evolve, a wider range of vehicles will become available, keeping the country in step with global trends.As for this Coastie?I’d love to own an EV, but I’m holding out to see if better-looking, and maybe even better-value options—like the Zeekr 001, Xiaomi SU7, or the plug-in hybrid Li Auto L7—finally make their way to New Zealand, and the Hibiscus Coast.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

Manufacturers Hopeful for Economic Recovery
Manufacturers Hopeful for Economic Recovery

01 May 2025, 12:00 AM

Alan McDonald, Head of Advocacy and Strategy at the EMA, shares insights from recent surveys showing growing optimism for economic recovery in the latter half of 2025. While large manufacturers in New Zealand are optimistic, McDonald highlights that smaller manufacturers, including those on the Hibiscus Coast, continue to face significant hurdles. These businesses are still grappling with the effects of the recession, with some forced to downsize to stay afloat.Many local manufacturers have echoed these concerns in conversations with the EMA. Rising energy prices have placed considerable pressure on manufacturers, especially those without long-term energy contracts. As electricity prices continue to soar, smaller manufacturers are finding it harder to remain competitive, leading to reduced production and profitability. In some cases, this has resulted in restructuring and layoffs.The EMA AdviceLine team, which offers support to local businesses, has seen a record number of calls this year from manufacturers seeking advice on redundancies and restructuring. As these processes unfold, McDonald predicts a slight rise in unemployment over the coming months, affecting businesses across wider region.Despite these challenges, McDonald points to the resilience of manufacturers, many of whom are taking proactive steps to invest in their staff’s skills. The EMA’s partnership with ASB to launch a nationwide series of workshops on Industry 4.0 technologies is one example of how businesses are adapting to future trends. Local manufacturers are increasingly recognising the need to stay ahead by adopting new technologies and improving their workforce capabilities.The EMA’s training programs, including leadership, digital skills, and safety courses, have seen a growing number of enrolments, particularly among manufacturers looking to improve productivity and safety. However, McDonald acknowledges that a shortage of leadership capacity remains a challenge within the sector.McDonald also advocates for a stronger depreciation regime to support investment in new technology and machinery, following successful examples in Australia. He believes such changes could have a positive impact on local businesses, including those on the Hibiscus Coast, by enabling them to modernise their operations and boost productivity.As local manufacturers continue to navigate these difficult times, McDonald stresses that investing in technology, upskilling workers, and creating better conditions for investment will be crucial for ensuring the long-term competitiveness of the Auckland manufacturing sector.

Harbour Hospice Needs Your Help, Coasties!
Harbour Hospice Needs Your Help, Coasties!

30 April 2025, 9:00 PM

Coasties, Harbour Hospice is calling on you this May!The Hibiscus Coast’s only palliative care provider is asking for your support during its Awareness Month, running from May 1 to 31.This vital service is there for our neighbours and loved ones in their toughest moments, and now, they need us to be there for them.Every year, Harbour Hospice cares for over 1300 locals, but with rising demand and limited funding, they must raise millions to keep their services going.As Amanda Fowler, Harbour Hospice’s Chief Executive, puts it, “Everyone deserves to live well until they die, and our team is dedicated to making that possible.”Local businesses are getting behind the campaign, offering ways to contribute—from adding a dollar to your grocery bill at supermarkets to donating online.And with a generous match for online donations up to $20,000, every dollar you give will have double the impact!For people like Gary and Margaret, Harbour Hospice is more than just a care provider.When Gary, diagnosed with COPD at age 69, was first referred to the hospice, he was hesitant—thinking it was only a place for the end.But from the moment they arrived, things changed for the better.Hospice offered respite care for Margaret, helping relieve the exhaustion of caregiving.They even helped with practical matters, like applying for a Disabled Parking Permit and addressing a wound that wasn’t healing.The support made life easier for both of them.Harbour Hospice isn’t just about end-of-life care—it’s about providing peace of mind and comfort when it’s needed most.Their 24/7 support and respite care offer families a sense of relief, knowing they don’t have to go through the toughest moments alone.So let’s do our part, Coasties.Every donation, no matter how small, helps keep Harbour Hospice’s doors open and their teams by the side of those who need them most.To find out how you can support Harbour Hospice Awareness Month (1-31 May), click here.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

Financial Education Coming to Schools in 2026
Financial Education Coming to Schools in 2026

30 April 2025, 5:01 AM

In what would seem a practical move, and one long overdue, financial education will be embedded into the social sciences curriculum for Year 1-10 students across New Zealand.This change, announced by Education Minister Erica Stanford, is designed to equip young Kiwis with the knowledge and skills needed to make informed financial decisions in a world that is becoming increasingly complex.For younger students, the curriculum will focus on the basics: understanding the difference between needs and wants, managing a bank account, and learning how to earn, save, and spend wisely.As students progress, they will explore more advanced concepts such as budgeting, investments, interest, taxes, and insurance—skills that will prepare them for a financially responsible future.Minister Stanford noted, "Embedding essential skills into the curriculum will ensure our young people are better prepared to make informed financial decisions in a complex financial world. This will positively impact their lives and the broader economy."Supporting this initiative, the Ministry of Education has worked with financial institutions and trusts to develop a range of resources to help schools on the Hibiscus Coast and across New Zealand deliver this essential education.In addition, the Retirement Commission will map financial education offerings to ensure they align with the updated curriculum.Commerce and Consumer Affairs Minister Scott Simpson added, "Strengthening financial education is crucial to our Government’s focus on economic growth. We are all consumers, and financial literacy can set young Kiwis up to be savvy consumers – whether it’s knowing how to invest wisely, choose the best loan at a bank, or even identify a scam."This long-awaited update aims to equip students, with the tools they need to thrive in both their personal and financial lives.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

Auckland Airport second runway pushed out to 2038
Auckland Airport second runway pushed out to 2038

30 April 2025, 3:15 AM

Auckland Airport's long-anticipated second runway won't arrive until at least the late 2030s, and a new regional terminal is on the cards for the same decade.The airport's draft master plan said the timeline for a second runway has been pushed out by 10 years from the previous 2028, although the airport had previously indicated the delay.It was the first revision to the airport's master plan in 11 years, as it outlined its growth intentions through to 2047.The airport said the master plan was not a detailed construction or capital plan, but it would guide investment decisions.Auckland Airport chief strategic planning officer Mary-Liz Tuck said a second runway would eventually be needed, but operational and airfield efficiency meant the date could be revised."First, we will fully explore all the ways we can ensure our current airfield operates as efficiently as possible," Tuck said. "If the existing runway cannot provide the capacity New Zealand requires, then we will commence consultation with airlines on the second runway."The airport said it would have the capacity for 38 million travellers by 2047 compared to 18 million passengers in 2024. It expected air cargo to grow by more than 40 percent to 223,000 tonnes.New regional terminalThe draft master plan also confirmed its existing strategy of integrating its domestic and international terminals.The airport has already commenced work on a new domestic terminal.It said the old domestic terminal would be reconfigured in the short-term for regional flights, but regional operations would eventually move to a new dedicated regional terminal after 2033.The new regional terminal was planned to have a public departure hall, check-in and automated bag-drop, baggage handling, access and boarding pass control, security screening, departure loungers and wait areas, and baggage reclaim."The operational model the new terminal will operate is still unclear, the main complexity is whether screening will be introduced for regional services by FY33," the plan stated.The airport said it would also continue to work with Auckland Transport and the NZ Transport Agency to secure mass transit to the airport from both the north and south-east.Auckland Airport planned to carry out consultations over the next few months and aimed to have a final master plan by the end of the year.

$2M Boost for Northland Power Upgrades
$2M Boost for Northland Power Upgrades

30 April 2025, 2:00 AM

The Regional Infrastructure Fund has committed up to $2 million to explore upgrading Northland’s electricity transmission and distribution infrastructure, with the potential for benefits reaching beyond the region. For Coasties who frequently head north for holidays or own property in the area, this project could have a direct impact on the availability and cost of electricity.Regional Development Minister Shane Jones highlighted the importance of increasing New Zealand’s electricity generation capacity to meet the growing demand. Northland, rich in renewable energy resources like wind and solar, is seen as a key player in this effort. The project also aligns with the Government’s renewable energy goals for 2035.The Ministry of Business, Innovation and Employment (MBIE) will use the funding to assess the feasibility of turning Northland into an "energy bridge" connecting the region to Auckland. They’ll work alongside local stakeholders to explore the economic benefits of the project.“This initiative could unlock up to $1 billion in private investment, potentially transforming Northland into a major power generator. The flow-on effects could benefit Auckland and the wider country, including Coasties who rely on power stability for their northern properties,” Mr Jones said.The project is expected to improve energy resilience and self-sufficiency for Northland, reducing the cost of power for locals and holidaymakers alike. If successful, the upgrades could lower electricity prices for Auckland as well, contributing to more affordable power on the Hibiscus Coast and beyond.The feasibility study is just the beginning, and while full commissioning is expected by 2029, some new power generation could be online sooner as parts of the project come to fruition.This investment is in line with the Coalition Government’s broader goals to double renewable energy generation by 2035, aiming to reduce emissions and support sustainable economic growth for the entire country.Seen something local we should cover?Let us know at [email protected]

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