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Auckland Housing Values Drop Sharply
Auckland Housing Values Drop Sharply

14 October 2025, 1:52 AM

Auckland’s housing market has led a nationwide slide, with average home values falling 2.5% in the September quarter to $1.19 million, according to the latest QV House Price Index.Nationally, values dropped 1.1% to an average of $900,521, marking a 14% decline from the 2022 peak. Auckland and Wellington have seen the largest corrections, with values now more than 20% below their highs.QV spokesperson Andrea Rush said the market correction from the post-Covid boom is continuing, though recent cuts to the Official Cash Rate may provide some spring relief. “Decreasing home values and lower mortgage rates continue to improve affordability in many areas,” she said.QV valuer Hugh Robson added that buyer interest has lifted slightly across the city. “Whether this translates into a genuine spring uplift in values remains to be seen,” he said. “Overall, conditions continue to favour buyers, with plenty of choice available.”For the Hibiscus Coast, where households are sensitive to mortgage rates and shifting property values, the downward trend is already shaping local buyer behaviour. More Coasties are holding off on upgrades, while investors are returning cautiously as lower mortgage rates improve serviceability.Despite the slide, demand remains strongest for modern, well-maintained homes ready to move into. Multi-unit townhouses continue to dominate new listings, but developments lacking storage, parking or good indoor–outdoor flow are seeing prices trimmed to meet the market.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

Accounting: Turning Bad Debt into Good Debt (sponsored)
Accounting: Turning Bad Debt into Good Debt (sponsored)

13 October 2025, 10:01 PM

Big idea: Inland Revenue allows an interest deduction when borrowed money is used to earn taxable income.If your loans have funded private spending (owner drawings, overdrawn shareholder current accounts), that portion of interest isn’t deductible.The good news: you can often restructure now so future interest becomes deductible.WarningAlways seek professional advice from a Chartered Accountant as there are traps.Step 1: Diagnose the problemList every loan and overdraft and ask: What did these dollars actually pay for?Tag each portion business (stock, wages, equipment, fit-out, premises) or private (drawings, personal bills, historic tidy-ups).Blended facilities are common—split them on paper first.Step 2: Clean up shareholder current accountsAn overdrawn shareholder current account (the shareholder owes the company) screams “private use”.If bank debt is effectively covering that overdraft, interest on that slice is non-deductible. Two fixes:1) Dividend set-offDeclare a fully imputed dividend and apply it to clear the overdrawn balance (legal set-off).From that date, ensure all borrowing funds business purposes only.Example: The company has a $60k overdrawn current account and a $180k term loan.You declare a $60k fully imputed dividend and set it off, eliminating the private receivable.You then split the facility into two sub-accounts: $120k business working capital and $60k capex.Going forward, interest on both is deductible because the funds are clearly tied to income-earning use.2) Shareholder cash injectionThe shareholder repays the debit current account in cash.From then on, bank debt finances only business activity.Again, interest becomes deductible going forward.Guardrails: Pass the Companies Act solvency test, check imputation credits, and brief shareholders on the personal tax impact of dividends.Step 3: Refinance for clear tracingWhere possible, ask the bank for separate sub-accounts: one for working capital, one for each asset purchase.If you refinance an existing business loan at a better rate, interest remains deductible because the underlying use hasn’t changed.Example: Last year you advanced $80k personally to cover payroll and stock (the company owes you—current account in credit).Draw an $80k business term loan and repay the shareholder.This is a refinance of business funding, so interest is deductible.Step 4: On-lend when the bank prefers the individualIf the bank will only lend to you personally, use an on-lend: you borrow, then on-lend to the company at a commercial rate under a simple loan agreement.The company uses the funds for business; its interest is deductible.You return interest income; your personal interest cost broadly offsets it.Example: You borrow $120k at 8.2% and on-lend at 8.5%.The company buys equipment and deducts the 8.5% interest.You return 8.5% interest income and pay 8.2% interest expense—small spread, clean tracing.Records that make IR happy• Board minutes: purpose of each facility and, if relevant, that it replaces prior business funding.• Dividend resolution (for set-off) with solvency statement and imputation disclosure.• On-loan agreement with commercial terms; withhold RWT as required.• Drawdown/repayment log tying dollars to invoices and uses.• Vehicle logbooks or business-use % where relevant.Bottom lineYou can’t re-characterise yesterday’s spend, but with clean splits, proper resolutions and crisp tracing, you can ensure tomorrow’s interest is deductible.At David Hooper Chartered Accountants, we help small businesses restructure debt and maximise tax deductibility. Contact us at [email protected] or call 09 421 1635.

AUT Launches ‘Knowledge That Works’
AUT Launches ‘Knowledge That Works’

13 October 2025, 8:27 PM

The Auckland University of Technology (AUT) has unveiled a new brand campaign marking 25 years as a university and more than 130 as a place of education.The campaign, launched on Friday, celebrates AUT’s reputation for pairing academic excellence with hands-on, real-world experience.Replacing the ‘Find Your Greatness’ campaign used since 2020, the new positioning ‘Knowledge That Works’ reinforces AUT’s strength as a university where students learn by doing.Vice-Chancellor Professor Damon Salesa said the refreshed focus highlights AUT’s difference in a fast-changing world.“The world needs new ways of thinking and learning that are open, inclusive, and enthusiastically hands-on,” he said.“AUT’s strength is providing students with the real-world experience they need to become future-ready graduates.”More than 90% of AUT’s bachelor graduates complete work experience as part of their degree, a reflection of its strong polytechnic roots.Chief Marketing Officer Jayne Mayerhofler said workshops and testing showed “an appetite for a bolder, more self-confident voice.”The campaign features current students and alumni from diverse backgrounds, photographed with props representing practical, applied learning across AUT’s many disciplines.For many Hibiscus Coast students, AUT’s North Campus offers an accessible path to degrees that blend classroom learning with practical skills and strong industry links across Auckland.The new look will appear on AUT’s digital channels, billboards, buses, and across its North Shore, City, and Manukau campuses, a visible reminder of the university’s focus on real-world knowledge.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

Auckland Harbour Bridge maintenance costs nearly double because of paint job
Auckland Harbour Bridge maintenance costs nearly double because of paint job

13 October 2025, 7:06 PM

The cost of repair and maintenance of the Auckland Harbour Bridge nearly doubled to $22.4 million in the year to June, as the bridge's original paint coating reaches the end of its designed life, requiring a full re-paint.The bridge officially opened in May 1959, with 'clip-on' lanes added and completed in 1969. Currently, more than 160,000 vehicles cross the bridge daily and 62 full-time staff are employed for work related to the maintenance of the bridge.New Zealand Transport Agency (NZTA) figures released under the Official Information Act showed that the amount spent on the bridge increased from $12.2m in the 2023/2024 financial year, to $22.4m in the 2024/2025 financial year.NZTA said the increase in spending was due to the Truss Bridge Refurbishment Project, which started in 2024/25.It said the project would see the original paint stripped to the bare steel and the application of a new paint coating."Note that the previous AHB maintenance strategy was to maximise the life of the original coatings by undertaking spot repairs and over-coating as required."We are now at the end of the paint coating's design life, which is why the Truss Bridge Refurbishment Project is required," it said.NZTA said there had been an increase in cost for the design and management of this project, which was usual, when starting a major project.Over the next five years, it expected funding for the bridge would remain at a similar level to the 2024/25 financial year or slightly more, due to the refurbishment project and coating renewals.Over recent years, there had been continued debate over the plan for a second Waitematā Harbour crossing.Prior to the 2023 elections, Labour announced a plan to build two road tunnels and one light rail tunnel across the harbour - estimated to cost up to $45 billion.In March, Minister of Transport Chris Bishop put out appeals for international input on a second harbour crossing.He said he expected to announce a preferred option in mid-2026.In September, Auckland Mayor Wayne Brown revealed his proposal for a second crossing - a bridge stretching from Meola Reef to North Shore's Kauri Point - as a cheaper alternative.

Tight Race on Hibiscus Coast as Votes Counted
Tight Race on Hibiscus Coast as Votes Counted

13 October 2025, 3:55 AM

Auckland’s local election turnout hit 28.8 percent by Saturday morning, with more than 68,500 votes cast across the city.Auckland Council’s General Manager of Governance and Engagement, Lou-Ann Ballantyne, says every vote has made a difference as close races tighten before final results this Friday.“As you’ll see from these results, every single vote counts,” she says. “We look forward to confirming elected members for Tāmaki Makaurau once special votes are validated and counted.”While the mayoral race remains unchanged, several local board results shifted overnight. In the Hibiscus and Bays Local Board’s Hibiscus Coast Subdivision, Coast Community candidates Jake Law and Gemma Moffat hold the top two spots with 7,866 and 7,162 votes respectively. Gary Brown of Coast People follows with 6,265 votes, and Leanne Willis also of Coast People rounds out the four available seats with 4,964.In the Rodney Local Board’s Dairy Flat Subdivision, Independent candidate Lisa Whyte leads with 1,234 votes.For Albany Ward, newcomer Victoria Short from Fix Auckland holds a clear lead with 16,188 votes, followed by incumbent John Watson on 15,290. Wayne Walker trails by just 563 votes, keeping the contest alive until final confirmation.Find all Preliminary Results here.Ballantyne thanked all candidates for stepping forward. “Successful or not, I’d like to thank everyone for putting their best foot forward for Tāmaki Makaurau.”Final results are due Friday once all special votes are tallied, confirming the Hibiscus Coast’s representatives for the next term.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

Boost for NZ Rugby with Major Sponsorship
Boost for NZ Rugby with Major Sponsorship

13 October 2025, 12:05 AM

New Zealand’s five Super Rugby Pacific clubs, the Blues, Gallagher Chiefs, Hurricanes, Crusaders and Highlanders, are set to benefit from a landmark partnership with digital asset platform Swyftx.The company, which recently acquired New Zealand’s largest crypto exchange Easy Crypto, has signed on as an official partner in a deal marking the country’s first major cryptocurrency sponsorship in rugby union.It follows Swyftx’s multi-year deal with the One NZ Warriors, making it the first crypto exchange globally to sponsor professional teams across both rugby codes.A parallel agreement with Rugby Australia will also see Swyftx become naming rights sponsor for Super Rugby Pacific and Super Rugby Women’s competitions until 2027.Swyftx CEO Jason Titman said the investment was part of a long-term trans-Tasman strategy. “To be the first exchange globally to sponsor teams at this level is a huge milestone. We’re delighted to support rugby’s growth as we approach the 2027 World Cup.”NZ Super Rugby Clubs spokesperson Roger Clark said partnerships like this were vital for the sport’s future.“They’re critical for keeping the game strong, sustainable and accessible to fans.”Swyftx NZ country manager Paul Quickenden said the partnership would provide extensive branding and fan engagement opportunities, from digital campaigns to stadium signage. “Rugby is part of New Zealand’s DNA. This partnership lets us invest directly in the game’s future while helping Kiwis embrace digital innovation.”For Coastie rugby followers, it is a boost that reinforces the strength of New Zealand’s professional game as local clubs and fans look ahead to another exciting season.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

Kiwis Choose Property Over Passion
Kiwis Choose Property Over Passion

12 October 2025, 8:00 PM

A new national survey has confirmed what many already believe. New Zealanders are more in love with property than romance.Trade Me Property’s latest survey of 2,500 people found that 13 percent would rather browse homes than have sex, while more than half prefer scrolling real estate listings to swiping on dating apps.Spokesperson Casey Wylde said the findings show just how strong the obsession is. “Our passion for property runs deep, so deep that more than 300 people said it’s more appealing than romance,” she said.Many still enjoy daydreaming about luxury homes, but more are staying realistic. Only 38 percent now look at homes beyond their price range, compared with 59 percent last year.“While it’s fun to imagine winning Lotto and buying a mansion, Kiwis are being more pragmatic this year,” Wylde said. “Most people browse to check sale prices and see what homes are selling for.”The survey also revealed a strong streak of curiosity. About one in three admit to checking out friends’ or neighbours’ homes online, showing that we still love a good property peek.Even on the Hibiscus Coast, locals say browsing from the couch, bed, or even the bathroom has become a daily habit.Lifestyle blocks remain the top dream property at 25 percent, followed by beach houses at 23 percent. Both are firm favourites among Coasties.For many people, this habit goes beyond mere curiosity. Nearly half said property browsing motivates them to work towards owning a home one day.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

New loyalty programme coming to multiple large national retailers
New loyalty programme coming to multiple large national retailers

12 October 2025, 7:23 PM

A new customer loyalty programme, Cashpoints, is being rolled out from early next year, with the support of multiple national retail brands.Cashpoints founder Ian Sutcliffe said Cashpoints gave retailers their own loyalty programme at an affordable price, while being a part of a network that allowed consumers to collect and spend their Cashpoints at any member retailer.Consumers can use the card at a variety of in-store and online partners, across multiple product categories ranging from frequent purchases through to big ticket items.He said the programme will launch with a number of large national retailers, which would be disclosed at the launch, early next year.Sutcliffe said Cashpoints was a real-time, easy-to use and understand rewards programme, giving retailers all the tools they need to run their own loyalty programme, but without having to worry about building their own system."We take care of it all - cards, point of sale assets, an advanced real-time data platform, cyber security, database functionality and consumer insights. We know what works and have made implementing a loyalty solution easy for retailers," Sutcliffe said."We've made it affordable - it's a monthly licence fee with unlimited transactions and the retailer pays for the rewards only after they've been issued to the customer, with no up-front commitment to issue a minimum amount of rewards."Sutcliffe said the card was also designed for consumers in mind.He said a recent survey showed 80 percent of customers preferred a loyalty programme that involved multiple brands."Consumers want a real time rewards programme that has choice of reward, relevancy of reward, and is super easy to understand."

Bias Still Blocks Women in Construction
Bias Still Blocks Women in Construction

11 October 2025, 8:01 PM

Women make up just 15 percent of full-time construction workers in New Zealand, and new research says subtle biases and discrimination are still keeping numbers low.Auckland University of Technology’s Dr Funmilayo Ebun Rotimi led a team exploring the barriers women face in the sector. Their study found that while more women are joining the industry, workplace culture and assumptions about ability continue to make progress slow.Dr Rotimi says women in construction experience both “benevolent sexism”, such as being stereotyped or pressured to prove themselves, and “hostile sexism”, including harassment and lack of respect. “Stereotyping can lead to assumptions about women’s ability or suitability for roles, increasing pressure to prove oneself,” she says.The study also found a lack of female role models, pay gaps, and women being passed over for promotions.It linked these conditions to stress and limited career growth.“By identifying the challenges faced by women in the industry, we hope to encourage the development of workplace initiatives to address them, thereby encouraging more women into careers in construction,” Dr Rotimi says.The research, published in Construction Economics and Building, was co-authored by Dr Marcela Brauner, Dr Megan Burfoot, Associate Professor Nicola Naismith, Dr Chathurani Silva, and Associate Professor Mahsa Mohaghegh.On the Hibiscus Coast, local building firms and trade operators could help lead change by supporting inclusive hiring and mentorship for women entering the workforce.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

Wayne Brown Leads as Voting Closes
Wayne Brown Leads as Voting Closes

11 October 2025, 2:03 AM

Voting for the 2025 Auckland local elections closed at midday, ending a morning rush of last-minute ballots dropped across the city. Council staff have now sealed and collected vote boxes, with preliminary results expected on Monday 13 October.As of Friday, turnout sat at 23.1 percent, down six points on the 2022 election. Auckland Council’s General Manager of Governance and Engagement, Lou-Ann Ballantyne, said the low participation rate was disappointing despite wider access to vote boxes and postal options.“Anecdotally, we’ve heard people didn’t know who to vote for. And typically, when voters are unsure about candidates or are happy with the status quo, they’re likely to abstain,” she said. “We’ll review our processes to improve future participation.”By 1.30pm on Saturday, with most votes counted, Wayne Brown was leading the mayoralty with 146,642 votes ahead of Kerrin Leoni on 56,612 and Ted Johnston on 21,661. Auckland Council Chief Executive Phil Wilson confirmed Brown’s provisional election to the 2025–2028 mayoral term.See the full list of progress results at: voteauckland.co.nz/results2025In the Albany Ward, Victoria Short (Fix Auckland) looks set for her first councillor role with 12,862 votes, while incumbents John Watson (12,299) and Wayne Walker (11,851) remain neck-and-neck for the second seat.North Shore councillor Richard Hills holds a solid lead with 15,682 votes, followed by John Gillon on 12,976 and Danielle Grant on 9,592. In Rodney, Greg Sayers was elected unopposed.For Hibiscus Coast residents, the results in nearby wards such as Albany and Rodney will shape representation on key transport and growth decisions in the years ahead.Seen something local we should cover?Let us know at [email protected]

AI Devices Could Revolutionise Heart Treatment
AI Devices Could Revolutionise Heart Treatment

10 October 2025, 10:07 PM

Artificial intelligence could soon reshape how heart disease is treated, with University of Auckland researchers developing smart devices that respond to the body in real time.Professor Julian Paton, who leads the University’s Manaaki Manawa Centre for Heart Research, says most existing devices are “free running” because they don’t respond to what’s happening inside the body.“It’s like a heating system without a thermostat,” he explains.“We’re saying, how does the body actually work? It works with a thermostat.”The team’s paper in Nature Reviews Cardiology pulls together global research on how the nervous system controls blood pressure, heart rhythm, and heart failure.The next frontier, they say, is bioelectronic devices that can sense when something is wrong and adjust instantly.For example, detecting rising blood pressure and triggering a correction automatically.Machine learning could allow these devices to learn a person’s normal settings, creating personalised treatments that evolve over time.Paton says New Zealand has the expertise to lead this field.“We have engineers, bioengineers, tissue engineers, physiologists, and surgeons who can design, test, and trial these new devices,” he says.“It shows the value of funding early research to turn ideas into reality.”Dr Daniel McCormick from the University’s Bioengineering Institute agrees, saying government and philanthropic investment could turn that research into products for global markets.For the Hibiscus Coast, the ripple effect could reach close to home, with Auckland’s growing medtech sector and nearby engineering talent likely to open doors for local collaboration in future heart research and device development.Seen something local we should cover?Let us know at [email protected]

Crypto Deal Injects Millions into NZ Sport
Crypto Deal Injects Millions into NZ Sport

10 October 2025, 7:02 PM

The One New Zealand Warriors have signed the country's first cryptocurrency sponsorship deal, set to significantly boost New Zealand's sports sector financially.Australian digital assets company Swyftx has announced a multi-year partnership with the Warriors, marking the start of a multi-million-dollar plan to invest in local sport over the next two years.The three-year deal includes branding rights, corporate hospitality, and tickets for every NRL home game at Go Media Stadium, which Swyftx will use for fan engagement and promotions.Swyftx chief executive Jason Titman says the Warriors were a natural fit for the brand’s first New Zealand sponsorship. “They represent passion, resilience and a loyal fan base. That kind of connection with the community was exactly what we were looking for,” he said.Jason Titman. Photo: supplied.The company has already spent up to $10 million annually on sports sponsorships in Australia and expects to allocate millions more in New Zealand as part of a broader strategy to expand across multiple sporting codes.One New Zealand Warriors CEO Cameron George says the deal will help the club grow its fan base and make the sport more accessible. “This sponsorship will not only provide important financial support for the club but also deliver new experiences and benefits for our members and fans,” he said.Swyftx’s local country manager, Paul Quickenden, called the partnership a pivotal moment for both sport and technology in New Zealand. “There is a significant opportunity for New Zealand sport to benefit from the scale of global digital asset investment,” he said.Paul Quickenden. Photo: supplied.For Coast-based Warriors fans, the partnership could mean more community initiatives and fan opportunities connected to the NRL season, bringing global sponsorship energy closer to home.Seen something local we should cover?Let us know at [email protected]

Government Launches AI Wellbeing Tool
Government Launches AI Wellbeing Tool

10 October 2025, 3:12 AM

New Zealanders can now get instant, science-based mental health advice with Ask Groov, a new AI-powered wellbeing tool launched by Minister for Mental Health Matt Doocey and Sir John Kirwan.The app, endorsed by Health New Zealand, gives adults 24-hour access to practical support for everyday challenges such as stress, sleep, or relationships. “Access to mental health support should never be a barrier,” Mr Doocey said. “With Ask Groov, faster access to support is available 24/7, when and where people need it.”He said the Government’s mental health plan focuses on faster access, more frontline workers, and stronger crisis response. “Innovative tools like Ask Groov help us get in early, preventing problems from escalating.”Sir John Kirwan, who co-founded Groov with Adam Clark, said the tool lets people ask questions in their own words and get trusted, evidence-based answers. “It’s the kind of support I wish had been available when I was struggling,” he told the minister.Ask Groov’s AI uses only information developed or approved by Groov’s clinical experts, ensuring safety. If a user needs more help, the tool connects them with services like 1737.For Coasties, the launch highlights how digital health tools are becoming part of everyday life, with growing opportunities for local tech and wellbeing providers to contribute to national solutions.Know something local worth sharing?Send it to [email protected] — we’ll help spread the word.

Silverdale Industrial Park Plans Take Shape
Silverdale Industrial Park Plans Take Shape

10 October 2025, 12:53 AM

A cluster of new industrial units planned for Silverdale will cater to growing demand for mid-sized premises on the Hibiscus Coast.Silverdale Gateway Industrial Park, set for construction in 2026 at 53 Small Road, sits on the edge of the area’s existing industrial zone and aims to fill a long-standing gap for modern warehouse and office space north of Auckland.Stage 1 includes a mix of units from 208 to 856 square metres, with prices starting at $1.04 million plus GST.The development has consent for industrial use, allowing everything from light manufacturing and logistics to trade supply or service-based operations.The warehouses are designed with high-stud interiors, roller door access and wide driveways to support vehicle movement.Office areas are finished to a practical standard, with larger spaces split across two levels to separate office and workshop functions.Bayleys Silverdale agent Alex Perigo says the project responds to clear market pressure for functional, flexible industrial sites close to transport links.“Attention has been given to balancing functionality with long-term visual quality, supporting both individual business branding and the overall cohesion of the development,” he said.An on-site café and shared landscaping will add to the business environment.Co-agent Ben Clare says Silverdale’s continued residential and commercial growth is driving sustained demand for mid-sized premises.With easy access to the Northern Motorway and Hibiscus Coast Highway, he says the location offers a practical base for local and regional operators.Seen something local we should cover?Let us know at [email protected]

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