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New hospital opens on North Shore
New hospital opens on North Shore

30 June 2024, 7:30 PM

The opening of the new Tōtara Haumaru hospital building marks a significant milestone in local healthcare.The $317 million facility, designed to address the region's healthcare needs, includes eight surgical theatres, four endoscopy rooms, and five 30-bed wards.Health New Zealand's Chief Executive Margie Apa highlighted the building's state-of-the-art features, emphasising its role in delivering more timely and efficient healthcare services."Tōtara Haumaru provides a modern, welcoming environment for patients and their whānau, delivering an improved experience and quality of care," Apa said.The hospital's advanced facilities include isolation and negative pressure rooms, essential for pandemic preparedness, and a healing garden funded by the Well Foundation.The hospital's phased opening will initially focus on transferring services from North Shore Hospital, with plans to scale up operations gradually.By the end of the first quarter, four surgical theatres, two endoscopy suites, and two medical wards will be operational.Health Minister Dr. Shane Reti acknowledged the collective efforts of all involved, from construction partners to local parliamentary representatives."Tōtara Haumaru will be an asset that works to deliver our healthcare priorities," he said.The opening coincides with the implementation of new national health targets aimed at improving access to cancer treatment, immunisation rates, and reducing wait times for emergency and elective services.

Interest rate cuts will happen quickly next year - Kiwibank
Interest rate cuts will happen quickly next year - Kiwibank

30 June 2024, 6:12 PM

Businesses and households are holding on until 2025, which is likely to be a year of "significant" interest rate cuts, Kiwibank says.It has updated its economic forecasts.Economist Sabrina Delgado said while it still expected the official cash rate (OCR) to be cut in November - earlier than many other forecasts - it was next year the full impact of a fall in interest rates would be felt.Kiwibank expected the OCR to be at 4.5 percent by next June, compared to 5.5 percent at present, and 3 percent by the following June.Delgado said once the Reserve Bank made a choice to cut rates, it would aim to scale right back to a neutral rate - not just ease a bit and see what happened."We think once inflation is in the band, it's not a decision to cut and wait it out. It's a decision to go back to neutral and restimulate the economy."Kiwibank said the Reserve Bank had the economy "in a chokehold" and things would only start to improve once rates began to fall."It all comes down to where we see inflation going," Delgado said. "We know the path for policy and interest rates is pegged to inflation."She said inflation should be back in the Reserve Bank's target band of 1 percent to 3 percent by the third quarter of this year."We do see the first opportunity for cuts happening in November. We're very aware the risks are for a later start, maybe in February. But one thing we are confident in for sure is the direction for interest rates is lower."She said everything hinged on interest rates coming down."Economic activity is really weak. The housing market is struggling to regain momentum because interest rates remain high. The lifeblood of the economy will come back when we see interest rates being cut."She said the Reserve Bank could cut before inflation was in the middle of its target band."Monetary policy does work with a really long lag. There is a risk that they overshoot if they leave it too long."Kiwibank expects the economy to grow just 0.1 percent this year. Delgado said things could still feel worse for households, before they got better."Because of the lags we see in the labour market, recessions tend to feel worse at the end."Kiwibank expects unemployment to rise to a peak of 5.2 percent in the middle of next year."People have been doing it tough but there has been resilience in the economy because of tight labour markets," Delgado said."Once that starts to loosen that's when there will still be some pain out there... The main message is that things will be better next year. Not that it's going to be a click and everything will be better all of a sudden, but that's the outlook."The signal that interest rates are coming down will help boost confidence, it is really key. People are gripping on til the end of the year, just holding on."

Lifestyle property sales show resilience
Lifestyle property sales show resilience

29 June 2024, 1:44 AM

The Real Estate Institute of New Zealand (REINZ) has reported positive trends in the lifestyle property market for the three months ending May 2024, highlighting an increase in sales and stable prices.REINZ data reveals 1,449 lifestyle property sales in the three months to May 2024, a 1.1% rise from the previous three months and a 4.5% increase compared to May 2023.Over the past year, 5,669 lifestyle properties were sold, despite a 3.5% decrease from the previous year. The total value of these sales reached $6.30 billion.Median prices for lifestyle properties remained steady at $1,000,000, unchanged from the same period in 2023. Bareland lifestyle properties saw a median price decrease to $418,000 (-2.3%), while Farmlet lifestyle properties had a slight decline to $1,100,000 (-0.9%)."Despite some regional variations, the overall increase in sales and stable median prices highlight the continued demand for lifestyle properties in New Zealand," said REINZ spokesperson Shane O’Brien. "The market's performance over the past year underscores its significance in the country's lifestyle sector."Regionally, Auckland and Wellington led in sales increases, while Waikato and Manawatu-Whanganui saw declines. Median prices varied, with notable increases in West Coast and Bay of Plenty, and decreases in Gisborne/Hawkes Bay and Wellington. The median selling time increased by 11 days to 76 days, with Waikato having the shortest period at 65 days and Southland the longest at 108 days.

Auckland Council adopts 10-year budget, including 6.8% rates hikes
Auckland Council adopts 10-year budget, including 6.8% rates hikes

28 June 2024, 10:00 PM

Auckland Council has voted to adopt its next Long-term Plan, ushering in an average 6.8 percent rates increase for Aucklanders.Mayor Wayne Brown said the rates increases were low compared to other council areas.They would see the average homeowner's rates bill rise $245.48 a year, or $4.72 a week.The rates increase would be 5.8 percent in 2025/26 and 7.9 percent in 2026/27.Meanwhile, Watercare would raise water bills by 7.2 percent.The vote also ushered in the creation of the mayor's Future Fund, which will see the council's shares in Auckland Airport swapped for less risky investments.Brown said the fund would diversify council assets and bring in $40 million per year of additional funding.The plan also committed to a basics-first transport plan, with more than $14 billion of capital investment.A similar amount would be pumped into Watercare's capital programme.Council chief executive Phil Wilson said the plan prioritised Auckland's physical and financial resilience."Ultimately this plan is about building Auckland's future and delivering the outcomes that Aucklanders want and need. It is how we, as council, improve the daily lives of Aucklanders, particularly through the current cost of living concerns," he said."It is about managing the challenges we face - such as inflation, population growth, flood resilience and funding - making the most of what we have, and focusing on areas that will make the biggest difference for Auckland."Brown said the conversation could now turn to "wealth creation and how to get the most out of what we have - rather than just budget holes and debt".

Government unveils $22 billion transport plan
Government unveils $22 billion transport plan

27 June 2024, 10:14 PM

The Government has announced a $22 billion transport plan under the Government Policy Statement on land transport 2024 (GPS 2024) to enhance productivity and support economic growth. Transport Minister Simeon Brown emphasised the Government's commitment to fulfilling its transport promises to New Zealanders.Key components of the plan include a 41 per cent increase in public transport funding and substantial boosts for road maintenance. The New Zealand Transport Agency (NZTA) will see a 91 per cent increase in funding to fix and prevent potholes on state highways, while local councils will receive a 50 per cent increase for similar work on local roads.Brown highlighted the addition of $1 billion to the National Land Transport Fund (NLTF) from Budget 2024, which will expedite the implementation of major transport projects. Over the next three years, the Government plans to invest approximately $7 billion annually in building and maintaining a transport system that ensures quick and safe travel for Kiwis.The GPS 2024 will reintroduce the Roads of National Significance (RoNS) programme with 17 projects, alongside 11 Roads of Regional Significance (RoRS), aiming to create stronger transport connections throughout New Zealand.Public transport and rail networks are also a priority, with significant investments confirmed. Brown noted the disruptions in recent years and underscored the importance of investing in metropolitan rail and the Auckland, Hamilton, and Tauranga freight triangle.For the first time, GPS 2024 will earmark road maintenance funding specifically for resealing, rehabilitation, and drainage maintenance to prevent potholes. Road safety will also receive focused investment, including road policing, new infrastructure, and measures to address the leading causes of fatal crashes."Delivering reliable, effective, and efficient public transport is a key priority for our Government," Brown stated. "We will introduce legislation to implement roadside drug testing and require Police to conduct 3.3 million alcohol breath tests annually."

Auckland sees surge in new homes being built, though prices remain expensive
Auckland sees surge in new homes being built, though prices remain expensive

27 June 2024, 12:12 AM

Close to 65,000 homes have been built in the Auckland region since 2018, last year's Census data shows, outpacing population growth for the first time in decades.Census 2023 data showed between 2018 and 2023, 64,800 new homes were built in Auckland. Auckland Council said that was due to the introduction of the Auckland Unitary Plan.The plan was a guide for the use of Auckland's resources, including land development, and dictates what can be built and where.Auckland Council chief economist Gary Blick said the plan had made changes to boost housing capacity in the region.The data showed there had been an 11.9 percent increase in new homes since 2018, while the population had increased by 5.4 percent."Even after recovering from the pandemic-related population loss over 2020 to 2022, this confirms what we've seen in building consent data and population estimates - Auckland has built a lot of homes in recent years relative to its population growth," Blick said.Auckland Council chief economist Gary Blick. Photo: Supplied/Auckland Council"The new census results are also consistent with University of Auckland research, showing that the Unitary Plan has led to more housing choice and more new homes than would otherwise have been the case."The surge in new houses had "helped" housing affordability, Blick said, but he noted that housing in Auckland was still expensive relative to incomes.Census data had also shown Auckland had the highest growth in new housing in New Zealand, far surpassing any other region. The next closest was Canterbury with almost 26,000 new homes being built.

Climate factors linked to fish syndrome
Climate factors linked to fish syndrome

26 June 2024, 6:27 PM

Complex climate factors are likely causing Milky White Flesh Syndrome in snapper, according to a Fisheries New Zealand report. The syndrome, affecting snapper in the Hauraki Gulf and Doubtless Bay, results in skinny fish with mushy, white flesh."Early and ongoing tests ruled out exotic disease and food safety issues, meaning that fish with the syndrome are still safe for people to eat if they choose to," said Simon Lawrence, Fisheries New Zealand’s director of science and information.The report suggests extended La Niña weather patterns and warmer waters have lowered the production of phytoplankton and zooplankton, crucial food sources for snapper. Warmer ocean temperatures may also be affecting snapper metabolism, increasing their energy requirements.Lawrence stated that the prevalence of the syndrome appears to be declining, supporting these theories. "Overall, we’ve been seeing more snapper in the Hauraki Gulf for some time. The fishery is abundant, with plenty of younger fish entering the stock, all competing for food."The National Institute of Water and Atmospheric Research (NIWA) conducted research, gathering data from commercial and recreational fishers. Findings indicated no correlation between bottom trawling areas and the syndrome's prevalence.Fisheries New Zealand continues to investigate recent reports of snapper with similar symptoms on the North Island’s west coast, with no biosecurity concerns identified.

Job ads decline nationally amid tough market conditions
Job ads decline nationally amid tough market conditions

25 June 2024, 12:00 AM

Hibiscus Coast locals are grappling with a challenging job market as national job advertisements experienced a notable decline in May. According to SEEK NZ, job ads fell by 5% last month, marking the fourth consecutive month of decline. Year-on-year figures reveal a substantial 30% decrease compared to May 2023, underscoring the ongoing economic pressures.The construction sector bore the brunt of this downturn, with engineering roles particularly affected, seeing a 12% drop in job ads. Rob Clark, Country Manager at SEEK NZ, highlighted the broader implications, stating, "It is an incredibly tough labour market at the moment, with declining ad volumes in most regions and sectors."In regional insights, Taranaki and the West Coast were outliers with modest increases in job ads, contrasting sharply with declines observed across many regions, notably Marlborough and Wellington, which saw decreases of 46% and 42% respectively compared to last year.Applications per job ad remained steady in April, continuing a trend of heightened competition among job seekers. This dynamic is particularly pronounced in sectors like manufacturing, transport & logistics, and trades & services."This data reflects ongoing challenges in the job market," Clark noted. "Despite fluctuations, applications per job ad remain exceptionally high, signalling continued competition for available roles."Local economists suggest that while there are pockets of resilience, the overall trend reflects broader economic uncertainties impacting job creation and market stability.The data underscores the need for ongoing monitoring and adaptation in workforce strategies to navigate current economic challenges effectively.

New Auckland-Melbourne flight boosts summer travel
New Auckland-Melbourne flight boosts summer travel

24 June 2024, 8:31 PM

Travel between Auckland and Melbourne is set to become easier this summer with the launch of a new seasonal service by China Airlines. Starting in December, the airline will operate five flights a week between Auckland and Melbourne, extending onwards to Taipei.Auckland Airport Chief Customer Officer Scott Tasker highlighted the importance of this new service, noting that seat capacity between Auckland and Melbourne is still at 75% of pre-pandemic levels. “Melbourne is our second biggest trans-Tasman market with around 1,000 people flying between Auckland and Melbourne every day,” Tasker said. “Unfortunately, the flights haven’t been there to meet the demand and that’s been reflected in airfares that are well up on what we were paying pre-pandemic.”The new China Airlines service aims to address this gap, providing Kiwi travellers with more options for visiting Melbourne's cultural, sporting, and shopping attractions. The service is also expected to alleviate current pressure on airfares, which have been significantly higher due to limited flight availability.China Airlines currently operates a Taipei-Brisbane-Auckland service five times a week and plans to increase this to six flights per week during the summer. The airline has maintained a presence in New Zealand throughout the pandemic, even running freight-only passenger aircraft to support trade links.Taiwan is New Zealand’s fifth-largest air export market, with fresh produce such as cherries being particularly popular among Taiwanese consumers. Tasker pointed out that the additional flight capacity during the summer months is timely for local growers. “Taiwan is our number one cherry export market, so this additional capacity across the summer months is perfectly timed for our local growers to get their product into that market in top condition.”The new Auckland-Melbourne service will operate on an A350-900 aircraft, which features 306 seats, including 32 flat-bed business class seats, 31 premium economy seats, and 243 economy class seats. The outbound flight CI058 will depart Auckland at 9:05 pm and arrive in Melbourne at 10:55 pm local time, while the return flight CI057 will depart Melbourne at 1:40 pm local time and arrive in Auckland at 7:05 pm. The service will run every Tuesday, Wednesday, Thursday, Friday, and Sunday, subject to government approval.China Airlines, a SkyTeam alliance member and a Skytrax 4-star airline, has a long history of connecting Auckland to Taiwan. Tasker noted, “China Airlines were also one of the carriers that continued flying to New Zealand through the pandemic, including regular freight-only passenger aircraft keeping our trade links up and running.”In addition to benefiting exporters, the new service is expected to strengthen ties between the local Taiwanese population in Auckland and their friends and relatives back home. Taiwan is New Zealand’s 12th largest inbound visitor market, driven in part by these visiting friends and relatives (VFR) connections.The enhanced connectivity offered by China Airlines is a welcome development for both leisure travellers and the local economy, promising to make trans-Tasman travel more accessible and affordable this summer.

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