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Housing Market – No sizzle this summer for residential property market – QV

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Source: QUALITY VALUATIONS (QV)

It’s been a flat summer for New Zealand’s housing market, in spite of falling interest rates.

Our latest QV House Price Index shows residential property values have increased nationally by an average of just 0.5% in the three months to the end of February 2025. The average home is now worth $912,904, which is 1.4% less than the same time last year and 14.1% below the market’s peak in late 2021.

QV operations manager James Wilson said it had been the housing market’s flattest summer in six years – since home values increased by just 0.4% throughout the pre-Covid summer months of December, January, and February in 2019.

“After some pretty significant volatility throughout the past half-decade, the housing market now appears to have well and truly stabilised,” he said. “We’re no longer seeing so many significant shifts up or down, with home values staying ‘steady as she goes’ over the summer, despite falling interest rates and a spreading expectation that we’re now through the worst of it.”

Across New Zealand’s main urban areas, Auckland (0.6%) and Wellington (0.3%) sat on either side of the national average this quarter and Christchurch (0.9%) did little better. Rotorua (2.1%), Napier (2.1%) and Invercargill (2.1%) experienced the most growth on average, while Hastings (-3.4%), Marlborough (-0.5%) and Whangarei (-0.5%) experienced the largest home value reductions.

“Although interest rates have come down notably in recent months, the resulting increase in demand is being partially offset by a slowdown in population growth and a large surplus of properties for sale. Affordability issues are still evident in the main urban areas in particular, with unemployment still being of major concern for many Kiwis,” Mr Wilson said.

“As for investors, anecdotal evidence from across the country suggests that growing numbers are looking to re-enter the market in 2025, but it’s still going to take a while before interest rate relief fully phases through and debt-to-income ratio limits will undoubtedly be a barrier for many of them.”

In the meantime, Mr Wilson said first-home buyers were still largely in the ascendancy, provided they had job security and their finances in order. “Although economic conditions have been remarkably tough on everyone, first-home buyers have benefited in recent times from there being far less competition with investors,” he said.

“When things do eventually get more competitive, and all the excess stock on the market today is eventually absorbed, then we’ll see prices start to grow once more. That’s not looking imminent. In fact, at this early stage it appears as though we could well be in for a relatively flat autumn too,” he concluded.

Download a high resolution version of the latest QV value map here.

Northland

Home values remain relatively static across the Northland region.

Our latest QV House Price Index shows Kaipara District’s average home value increased by 1.4% to $833,882. The average home value in the Far North reduced by nearly as much, dropping 1.3% to $693,763.

In Whangarei, the average home value reduced by 0.5% to $715,537, which is a slightly larger reduction than the 0.3% decline reported in the January quarter.

Auckland

It’s been a flat summer for Auckland’s housing market.

The city’s average home value has increased by 0.6% to $1,245,626 in the three months to the end of February 2025, including no growth whatsoever last month.

All bar one of the Super City’s seven former local council areas recorded a small rise in average home value this quarter, with Papakura (-1.7%) recording the only reduction. Auckland (1%) saw the biggest rise, with the North Shore (0.9%) and Franklin (0.9%) close behind.

The average home value in Auckland is 3.1% lower than the same time last year and 19.2% below the market’s peak in late 2021.

Bay of Plenty

Home values have continued to slowly bubble upward in Tauranga.

The city’s average home value increased by 1.6% to $1,020,948 in the February quarter – up slightly on the 1.4% growth recorded in the three months to the end of January. The average home value is now 1.9% lower than the same time last year.

Meanwhile, home values have also risen by an average of 1.4% across the wider Bay of Plenty region this quarter. Rotorua (2.1%) recorded above average growth; Gisborne (0.8%) and Western Bay of Plenty (0.6%) were a little below.

Waikato

Home values reduced across the broader Waikato region by an average of 0.4% in the February quarter.

Hamilton, however, performed slightly above average – its average home value increased by 0.6% to $788,171. That figure is now just 0.4% lower than the same time last year but remains 14.1% below the peak of the market in late 2021.

Local QV registered valuer Marshall Wu said the housing market was exhibiting early indications of some improvement, driven by expectations of further monetary easing following the first rate cut in February 2025.
 
“Lower mortgage rates are generally expected to stimulate housing demand and enhance affordability. When combined with easing cost of living pressures, improved consumer sentiment and rising income, these factors should contribute some stability to the housing market,” he said.

“A decline in new build approvals is also expected to help support local housing prices, further bolstered by high labour and material costs.”

However, he noted that the increase in demand driven by lower interest rates could be partially offset by a slowdown in population growth. “Declining migration figures are likely to reduce rental demand, potentially leading to a decrease in housing purchases.”

In the meantime, purchasers continue to benefit from a wider selection of available properties. “Given the prevailing economic softness and rising unemployment rate, the likelihood of a significant housing market growth cycle in 2025 remains low,” Mr Wu added.

Taranaki

New Plymouth has outperformed its neighbouring districts this quarter.

The city’s average home value grew by 1% to $725,536. That figure is now 1.7% higher than the same time last year.

In contrast, average home values reduced in the districts of Stratford and South Taranaki by 2.6% and 5.3% this quarter respectively.

Hawke’s Bay

Napier and Hastings had contrasting quarters – home values increased by an average of 2.1% in the former and reduced by 3.4% in the latter.

Across the wider Hawke’s Bay region, home values decreased by just 0.4% throughout the three months to the end of February 2025. It means the average home in the region is now worth 1.4% less than the same time last year.

Palmerston North

Home values have remained relatively flat this summer in Palmerston North.

Our latest QV House Price Index shows that the city’s average home value increased by 0.9% to $637,895 throughout the three months to the end of February 2025. The average home is now worth 0.7% less than at the same time last year.

Local QV registered valuer Olivia Betts said the local property market had remained relatively stable since June 2023 – a trend that she expected would continue into 2025.

“Interest rates have continued to decrease, which is helping to improve affordability – although there may still be a significant number of fixed-rate mortgages coming to an end, which could affect market dynamics. Despite these factors, the housing market is expected to remain relatively steady overall in 2025,” she said.

Wairarapa

Home values in Wairarapa have shrunk by 1.7% on average since the start of summer.

The district of South Wairarapa experienced the largest decline throughout this period – a 1.9% quarterly reduction to $756,229. Masterton’s average home value also reduced by 1.6% to $564,659, and home values in Carterton fell by 0.8% to a new average of $621,334.

Wellington

Residential property values have remained relatively motionless throughout much of the Wellington region this summer.

Our QV House Price Index for February 2025 shows that Wellington’s average home value has increased by just 0.3% to $840,884 this quarter.

That’s an even smaller increase than the 0.5% growth recorded throughout the three months to the end of January, and the 0.4% growth recorded throughout the three months to the end of December last year.

“Values continue to be relatively flat in the Wellington region, owing to the high stock levels and the continued cautious approach being taken by buyers,” said local QV senior consultant David Cornford. “Public sector workforce contraction also continues to impact the Wellington property market.”

“Provided you do have job security, now could be considered a favourable time to enter the market – particularly for first home buyers, given property values have likely reached or have nearly reached their trough in the cycle, interest rates have come back and there is ample choice in the market.”

Nelson

Home value growth remains slow but steady in Nelson.

The city’s average home value has risen by 1.6% to $793,505 in the February quarter, yet remains only 1.8% higher than at the same time last year.

“According to agents, most activity is in the $550,000 to $800,000 price bracket – very much like we saw at the end of 2024. That price bracket includes first-home buyers and a limited number of investors,” said local QV valuer Geoff Butterworth.

West Coast

Low sales volumes are still causing the West Coast’s housing statistics to fluctuate from month to month and quarter to quarter.

Our QV House Price Index for February 2025 shows that average home values have increased the most in Grey District over the last six months – rising 5.5% to $447,242 – with Buller and Westland now showing much more muted growth of 1.3% and 1.1% respectively.

Canterbury

Property values have remained largely immobile this summer in Christchurch despite recent interest rate reductions.

The Garden City’s average home value has grown throughout the three months to the end of February by 0.9% to $769,984. That figure is 1.3% higher than the same time last year.

It was a similar story in Waimakariri, where the average home has increased in value by 1.4% to reach $719,308 this quarter. Hurunui, in contrast, recorded a small 1.2% quarterly home value reduction to $641,420. Selwyn’s average home value also grew by just 0.3% to $843,378.

Local QV senior consultant Olivia Brownie commented: “After an active start to summer in the residential property market with some consistent growth in house values, there has now been a slight slowing in value growth. Perhaps this is due to the post-holiday increase in property listings and purchasers awaiting more interest rates cuts.”

“With the number of listings and tight national economic conditions, we expect minimal value growth over the coming months. Yet due to decreasing interest rates and increasing lending capabilities we also do not see any decline on the horizon. A decline in rents and an increase in rental properties available may also have a future influence on house prices in certain property types.”

Meanwhile, across the wider Canterbury region this quarter, the average home value dipped by 0.7% to $530,663 in Timaru, and increased by 1.5% to $568,744 in Ashburton.

Otago

Property values have been kept at a virtual standstill this summer in Otago.

Our latest QV House Price Index shows the Otago region’s average home value has remained unchanged this quarter, with Waitaki (0.3%) and Dunedin (0.3%) experiencing just miniscule growth on average since the start of December last year.

Local QV registered valuer Rebecca Johnston said it continued to be a buyers’ market in Dunedin. “Interest rates have continued to drop following the latest OCR announcement, while new listings continue to climb, giving potential purchasers plenty of choice.”

“Developers are now shifting to more sought-after locations, including Maori Hill and St Clair, and periphery suburbs to produce a higher-value end product, enhanced by the higher density zoning from the city’s 2nd Generation District Plan and the lower level townhouse supply now being somewhat saturated. This trend is expected to continue, with demand for quality warm housing and one fifth of Dunedin’s housing stock older than 1920,” she said.

Meanwhile, Central Otago has been the most buoyant of Otago’s districts this summer; its average home value grew by 2.1% in the three months to the end of February 2025.

Queenstown

Residential property values are down again slightly in Queenstown.

Our QV House Price Index for February shows the average property value has reduced locally by 0.4% this quarter to $1,820,880. That is a smaller reduction than the 1.5% average decline recorded in the January quarter.

Values in Queenstown are now just 0.3% lower on average than at the same time last year.

Invercargill

Residential property values have grown again in Invercargill this quarter.

Our latest QV House Price Index shows that the city’s average home value has increased this quarter by 2.1% to $500,344.

However, QV registered valuer Andrew Ronald noted that the city’s average home value remained static in the month of February itself. “The latest QV House Price Index for Invercargill shows home values increased by just 0.01% compared to the previous month,” he said.

“There is still steady demand from first-home buyers and investors are beginning to return to the market with the restoration of interest tax deductibility rules. Agents are reporting strong interest for properties under $600,000 and multiple offers are common. This is likely to flow through to strengthening value levels over the next few months.”

MIL OSI

Business News – Over 300 people remove nearly a tonne of Manukau Harbour rubbish in one morning

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Source: Hirepool

While the cost of living crisis continues to impact New Zealanders at the supermarket, the fuel pump, and the roofs over our heads, Saturday’s turnout – over 300 people who removed 8,950 litres of rubbish (880kgs) – at the Hirepool Big Clean in Onehunga shows that protecting the environment is still a key priority for Kiwis.
Sustainable Coastlines co-founder Sam Judd MNZM said “this area has a number of big challenges with pollution, poverty and more, but it gives me hope that so many people care and want to do something about it.” “Across 15 years of clean-ups, both here and abroad, I’ve never seen an area worse affected by microplastics,” says Judd.
More than 300 individuals showed up to take part in the event, organised by charity Sustainable Coastlines in collaboration with Hirepool – in only half a day.
“We know how tough it is out there for people at the moment, so to see groups of mates, families with young kids and individuals using their time, energy, and resources to protect the ocean is really heartening,” says Judd. “We actually had to close registrations as we had too many people sign up,” he says.
The Hirepool Big Clean event was designed to raise awareness about the impact of plastic pollution on marine animals and humans, as well as giving communities a chance to make a difference to their local coastline.
The Manukau is a key habitat for the critically endangered Māui dolphins, which are threatened by human activity including fishing, plastic ingestion, and entanglement. Life-size models of the taonga species, supplied by the Māui and Hector’s Dolphin Defenders, helped to drive the message home. It is also a breeding ground for the keystone species of the Great White Shark – who frequent the area with giant pregnant females releasing their pups in the harbour. Shark scientist Dr Riley Elliot says that “Every May and June – North Island harbours are pupping and nursery grounds for Great White Sharks, “what we put into that nursery ground – directly affects these animals and their food chain.”
We have seen that when silt, sediment and rubbish come into harbours that they nest in, they leave,” says Dr Elliot, “it’s like a tui – when you chop the tree down, they have nowhere to nest – so if you pollute these crucial habitats then we won’t have these apex predators calling our harbours home anymore.
Litter is a known issue in Manukau Harbour, where Sustainable Coastlines’ Litter Intelligence programme has recorded higher-than-average litter density. The latest data shows 525 litter items per 1,000m² in the area – higher than Auckland’s overall average of 422 and well above the national average of 305.
Plastic waste is especially prominent. One survey at Onehunga Wharf revealed that 92% of collected litter was plastic, with 6,416 plastic pieces per 1,000m². Further surveys are needed to build a long-term picture, but it’s clear that plastic pollution is a major issue in this area.
“This tells us that something needs to happen with policy and with industry, not just individual behaviour change, but first, let’s start with community,” says Judd, “when people understand the issues and they’re empowered to take action, the flow-on effects can be amazing.”
Hirepool CEO Brian Stephen praised the volunteers for their commitment: “Seeing so many people come together to protect our coastline is truly inspiring. The effort and enthusiasm of everyone involved highlights the real impact we can make when we work as a community.”

MIL OSI

Speech to NZ Infrastructure Investment Summit – Choose New Zealand

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Source: New Zealand Government

Tēna koutou katoa. Greetings everyone. 

It’s a pleasure to be here today, to feel your energy and the sense of possibility and opportunity in this room.  Whether you’ve travelled from the other side of the world or took on Auckland traffic to be here, your presence matters. 

I’m here today as a proud New Zealander, one of a team of Government Ministers determined to make much more of the enormous potential of this incredible country. To:

  • improve the quality of peoples’ lives 
  • deliver better public services and  
  • create great jobs for our kids;  
     

That last point is especially important for me, on a personal level: I’m a mother of four children aged 9, 12, 13 and 15. In this world of abundant choices for them, in terms of where they take their skills, where they take their lives, I want them – and all young Kiwis – to see this as a country of aspiration, and a place they should choose to make their home. I entered politics with a very strong conviction that strong leadership and good policy are needed to make this a place that the world’s talent will continue to make their home. 

I serve as our Prime Minister as both our Finance Minister and our Minister for Economic Growth.   

As Finance Minister, I take responsibility for managing our Government’s books.  So yes, I am the bean-counter, and I am always on a perpetual mission to drive more value from the spending we do and the investments we make.  I am the Ministerial colleague who takes pride in scrutinising the dollars, in reading through the business cases, and having the courage to say ‘no’ when proposals don’t stack up, and in saying ‘yes’ to innovations and partnerships that enhance the financial discipline and reliable delivery of vital public infrastructure. 

I also have the privilege of being our Minister for Economic Growth, helping lead our Government’s growth agenda. Growth is central to our mission and purpose: not only is it our most powerful tool for strengthening our public finances and flattering those books of mine, it’s also the means by which we will create better choices, higher living standards and more financial security for our people. 

Why should you invest in New Zealand? 

New Zealand is incredibly well positioned for growth. We are an undervalued stock. We have a stable democracy, with strong institutions and enduring respect for the rule of law, that has survived over successive changes of government. We have safe borders, extraordinary natural resources, a temperate climate, strong trading relationships, an open, innovative culture – and you’ll see that open culture on display these next two days and expect to have some candid and frank conversations – that’s how we roll. We have talented people. 

Let me paint that picture for you.  

Our stable democracy 

We ranked first on the World Bank’s ease of doing business index the last time the bank issued the index in 2019. 

We rank second on the Economist Group’s Democracy Index and according to Transparency International we are the fourth least corrupt country in the world. This is a good, reliable place to do business. 

We have safe borders, good international relations and extensive trading networks. 

Of course, it is somewhat simpler to have safe borders when you are surrounded by ocean, as we are. Our nearest big neighbour is 1500km away. We have worked hard, over many decades, to establish diplomatic relations with a large number of countries in all regions of the world. 

In 2024 we exported more than $101 billion worth of goods and services.  

Our largest export markets are China, the US and Australia, but we export to 230 nations in total. 

Across successive governments, we have weaved a constellation of close trading and economic relationships that give our exporters access to a broad range of markets on competitive terms. 

Our main good exports are dairy products, tourism, meat, wool and forestry, but our exports extend to world-beating digital services, advanced manufacturing and exciting creative industries. 

We have strong institutional settings 

It should give you confidence that while elections may change things, many things will remain. 

Over successive decades and Governments, we have worked hard to put in place best-practice institutional frameworks:  an independent central bank with a remit for low and stable inflation – the first inflation-targeting regime in the world – and a floating exchange rate. 

Our legal system, based on the British model, upholds the rule of law with an independent judiciary.   

Our government accounts are prepared according to high international standards and are released in a timely fashion. 

Stability is our middle name.  

We have sound government accounts 

Our Public Finance Act requires the government of the day to be transparent about both its short- and long-term fiscal objectives and to maintain prudent debt levels and report against these measures. 

We have relatively low levels of government debt compared to other countries, with the IMF’s most recent Fiscal Monitor ranking us having relatively the 26th lowest level of public debt when compared to the 33 advanced countries they assess. 

The Government is working hard to put net core Crown debt on a downward trajectory, balancing the need to ensure are resilient to and future economic shocks that may come our way while making room for the prudent investments needed to drive future productivity.  

Labour market flexibility  

We have a flexible labour market.  

OECD comparisons rank us highly in terms of flexibility for hiring temporary workers, and for settings that allow high labour flows between jobs and industries.  

Between 2000 and 2017 about one fifth of New Zealand workers switched jobs each year and about half of those job switches involved a change of industry.  

This flexibility helps labour productivity by making it easier for workers to move from less productive to more productive firms, or to jobs that better match their skills.  

We are well poised to adapt our workforce to the new industries and new challenges that are right upon us as a world, and that will continue to arise in the coming decades. 

Similarly, our rates of long-term unemployment are low, and while we did not escape the post-Covid downturn in economic activity experienced throughout the world, our unemployment levels remain below historic averages. 

We have flexible and responsive regulatory systems. We are small, and we are nimble. Our small size and our can-do attitude has translated to has translated to an ability to respond quickly to emerging opportunities. 

A key example is that of space company Rocket Lab, which the Prime Minister referred to. It announced in late 2014, through its leader Peter Beck, that it wanted to launch rockets from a remote peninsula on the East Coast of the North Island.  

Less than a year later, seized by that possibility and opportunity, the Government agreed to a new regulatory regime – a world-leading regulatory regime – to enable those rockets to launch. 

That regime came into law in 2017 with the first launch by Rocket Lab taking place that same year. 

We have done it before, and we are prepared to do it for emerging industries again. 

Unlike some countries in the world, beset by large size and complexity, we have a parliament that allows these things to happen quickly. 

We also have some of the best, most efficient and most sustainable farmers in the world, who take pride in making the most of our abundant natural resources. 

We have a long history of not subsidising our farmers but instead having them face competitively into world markets. 

Fonterra is the sixth largest global dairy producer and our sheep and beef farmers are internationally renowned. We feed tens of millions of people around the world, delivering products that meet exacting safety standards. 

New Zealand’s exclusive economic zone is over 14 million square kilometres, the ninth largest in the world, and aquaculture is New Zealand’s fastest-growing food production sector.   

We have abundant renewable energy. Eighty-eight per cent of our electricity comes from hydro, geothermal, wind, solar and other sources of renewable energy. We have no lack of land or desire or capacity for far far more renewable energy. 

We are blessed with minerals and resources, and have huge capacity to make more of these. Legislative changes are paving the way for increased investment in the mining of gold, coking coal, mineral sands and critical minerals.  

We have an entrepreneurial and innovative DNA  

We pride ourselves – as the Prime Minister said – on what we call our number eight wire mentality – our ability to innovate. 

New Zealand is, by and large, a country of small businesses, led by innovative people with a can-do attitude, some of whom make it very big.  

Examples include cloud-based accounting software company Xero, Wētā Digital famous for its groundbreaking visual effects and Fisher&Paykel Healthcare, globally recognised for its work providing innovative healthcare solutions for more than 50 years.  

We have a proud and accomplished indigenous population, with our Māori economy becoming an increasingly significant player in the New Zealand economy and contributing hugely to New Zealand’s unique national identity.   

Over the five years to 2023 the Māori asset base increased from $69 billion to $126 billion. That was a faster rate of asset growth than for the economy as a whole – testament to the success iwi and Māori entities are having in making smart and long-term investment choices, underpinned by strong commercial discipline. 

Over the same period the Māori economic contribution to gross domestic product increased from $17 billion to $32 billion. Mark my words, that growth is set to continue.  

Changing attitudes 

And we’ve been trading successfully internationally since the first contact between Europeans and Māori in the latter part of the 18th century. 

We have some strong traditions. But I also think that New Zealand is at a moment of change. Some of that change isn’t things you can see, but it is a change in attitude. 

Where once New Zealanders primarily were concerned about preserving what we already had, and our way of life as it has been, increasingly, New Zealanders have growing recognition of the need to embrace change if we want to provide opportunities for our children and fund high quality health, education and other public services. 

That desire to change, that sense of ambition and possibility, is reflected in the Government’s reform agenda.   

Let me give you some examples. 

  1. Overseas investment 

We recognize that the world doesn’t owe us a living and that every country in the world must compete for its share of the world’s wealth.   

NZ’s foreign direct investment levels currently sits at around 40% of GDP compared to the OECD average of 53% as at 2023.  There is untapped potential for more investment in this economy. 

We are reforming our overseas investment settings to ensure more of the world’s capital can flow here and is encouraged to flow here. We are determined not to allow red tape or uncertain settings to disrupt investment and growth.   

The impulse driving this reform is strong.  

Over the past 10 years, New Zealand’s labour productivity growth has only averaged about  0.3 per cent a year. 

Low capital intensity has been identified as one of the major causes of that low productivity.  

In order to increase our productivity, we need more capital investment. And David Seymour has been changing the rules to ensure we can. 

Therefore, we’re changing the rules to: 

  • Better reflect the benefits investment can provide to New Zealand’s economy 
  • make consenting decisions in just 15 days for all investments aside from residential land, farmland and fishing quota  
  • strengthen the Government’s ability to intervene on the rare occasions that a transaction is not in the national interest; and  

Our goal is to increase New Zealand’s attractiveness as a destination for your investment. 
 

2. Fast-track consenting 

We’re acutely aware of the challenges and frustrations for the need for effective, timely and affordable approval processes for new projects.    

We’re reforming our resource consenting rules, and fast-tracking the consenting process for projects of national and regional importance. 

They include:  

  • renewable energy projects  
  • aquaculture businesses  
  • mining projects; and   
  • housing developments 
     

3. Gearing up for a more stable and predictable infrastructure pipeline with more Public Private Partnerships 

Our democracy is robust, and the contest of ideas in our Parliament is very lively, but we have found common ground, across parties, on the need for a more bipartisan approach to infrastructure planning and delivery.  The presence of three opposition Parliamentarians here today is testament to that shared aspiration, and that sense of what is good for New Zealand over the long term. 

The simply reality is that overcoming New Zealand’s infrastructure deficit demands an approach that can look through elections and any change of Government.  

We do intend to be here for many, many years to come – but in the event that there is a change, we recognise the benefits that come from sequencing a clear pipeline of upcoming investments and have made institutional reforms to support this.  Across all areas of public infrastructure we are working to logically identify, prioritise, and sequence the investments needed over the coming decade and beyond. You will hear a lot more detail about these plans from our Ministers over the course of this summit. 

We are excited, also, by the opportunity for adoption of modern funding, financing and partnership approaches for the delivery of these public infrastructure projects. 

The New Zealand Government has done eight public private partnerships so far. They include schools, roads and corrections facilities. We have learned from these, and we want to do more.  

Of course, we’ll only do PPPs when they are in New Zealand’s best interests.  

When negotiating PPPs our focus is on the enhanced delivery of public services not just cost. 

We are interested in incentivising and allowing innovation, locating risk with those best-placed to address it, focusing decision-makers on whole-of-life outcomes and unlocking new funding sources. 

We recognise that the people in this room bring not only capital but also skill, and experience that will allow us to deliver better infrastructure faster. 

The outlook 

Our Government has a clear mandate to drive growth-enhancing reforms across a broad range of public policy.  

As I stand here today, I can be clear with you that there is a Government that wants to make this an even better place to do business. Whether it’s: 

  • Changing work visa to make it easier for employers to get the workers they need and to better facilitate foreign direct investment 
  • Reviewing competition rules with a view to increasing competition, we see huge possibility for new entrants in our grocery, and banking sectors, among others and we’re ensuring that our regulatory frameworks encourage innovation and disruption. 
  • Launching a minerals strategy 
  • We have also been working on a number of reforms across government to increase our education standards to ensure access to a skilled workforce,  
  • We have been reorienting the science and innovation system to focus more on commercialisation, and to make the most of new gene technologies. 

Across all of these reforms, whether it is regional growth initiatives, whether it is macroeconomic reform, whether it is microeconomic reform, our focus is on making the most of what we have. 

Conclusion 

Like a lot of countries, New Zealand has been through a challenging few years.  

But what I would put to you as I stand here today is that if I could choose to be any country in this particular moment in time, this moment of some uncertainty, of rapid change and of more concerns about security than I have seen in my generation, in a world in which people are worried about security – I would choose New Zealand. 

In a world in which people are worried about food supply and the effect of extreme climatic events, I would choose New Zealand. 

We have safe, secure borders, a temperate climate. We have abundant resources, robust institutions, strong cultural foundations and the best people. Our best years are ahead of us, and we are grateful to you for coming with us on this journey. 

There are huge opportunities for you to generate value. There are huge opportunities for us to grow together. Let’s make New Zealand an even better place. 

Thank you. 

MIL OSI

Delays on the Lower Buller Gorge week of 17 March

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Source: New Zealand Transport Agency

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People who drive in and out of Westport via SH6, the Buller Gorge, are encouraged to build in an extra half hour to their trips next week, says NZ Transport Agency Waka Kotahi (NZTA).

A number of maintenance activities are being completed before the end of the summer construction season. Work will be underway 7.30 am to 5 pm weekdays.

On top of the sealing sites, there are also crews stabilising rock faces at a number of sites west of Inangahua Junction, says Moira Whinham, Maintenance Contract Manager for NZTA on the West Coast.

“At the rock scaling sites, there may be 20 minutes’ wait, so if people can build in that extra time, they will be better prepared,” says Miss Whinham.  

West Coast traffic updates – Journey Planner(external link)

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MIL OSI

International students forced to pay up to $5,730 for compulsory Treaty course

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Source: ACT Party

ACT’s Tertiary Education spokesperson Dr Parmjeet Parmar is calling on Auckland University to scrap its compulsory ‘Waipapa Taumata Rau’ course, covering the Treaty of Waitangi and traditional Māori knowledge systems, after discovering that international students are being forced to pay thousands of dollars for it.

“It’s no wonder Auckland University is slipping down the international rankings when they’re charging students up to $5,730 for a course that has no relevance to their studies or future careers abroad.

“This mandatory course is damaging the university’s reputation among international students, who we rely on to pay full fees and subsidise costs for local students and taxpayers. A student who speaks English as a second language and only plans to stay in New Zealand for their degree gains no practical benefit from being forced to study local indigenous belief systems.

“When students have flexibility in their schedules, they can choose electives that align with their academic or personal interests. This choice brings interest and enjoyment to the university experience and attracts students. Forcing them into compulsory courses they don’t need or want takes the joy out of study and discourages enrolment.

“Auckland University should be focused on academic excellence, not ideological box-ticking. It’s time to let students decide what’s best for their education.”

MIL OSI

Technical bulletin: Occupational divers under training – trainee divers

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Source: Worksafe New Zealand

This technical bulletin provides guidance about the work trainee divers may undertake while under direct supervision during occupational diving operations.

Introduction

WorkSafe New Zealand requires applicants to provide dive logs to support their Certificate of Competence (CoC) application.

WorkSafe has recently seen an increase in divers submitting dive logs that indicate a need to make clear the distinction between a ‘diver under training’ and a ‘diver working without a CoC’.

This technical bulletin clarifies recommendations for divers who do not hold a current CoC as an occupational diver, but who are doing training dives while at work.

Background

The Health and Safety in Employment Regulations 1995 (the Regulations) require occupational divers working for a Person Conducting or Undertaking a Business (PCBU) to hold a CoC in the category in which they are diving. The CoC is issued by WorkSafe.

The Regulations have a provision allowing workers to undertake training to become the holder of a CoC, but require diving ‘under the direct supervision’ of another diver who holds a CoC for that category of diving.

WorkSafe defines direct supervision as being ‘within reach or contact at all times to ensure immediate assistance can be provided if necessary’.

When is a diver under training?

If a diver does not hold a current CoC, they must be under the direct supervision of a current CoC holder while diving is taking place. In this case they are considered a ‘trainee diver’.

As with all trainees in the workplace, supervision is required because they do not yet meet the necessary level of competency to operate independently in the workplace. For divers, this level of supervision is higher than expected in other workplaces.

Students undertaking formal instruction on a diving course (for example, Australian Diver Accreditation Scheme, Professional Association of Diving Instructors, and Science Diving New Zealand) are not working and do not require a CoC under the Regulations providing all the diving is in accordance with the course syllabus and supervised by a suitably qualified trainer holding a CoC.

But if they begin work tasks outside of their dive course (for example, leading dives, taking samples, fixing nets, cleaning aquariums or being a safety diver) they are considered to be working and will be seen as requiring a CoC.

What sort of training can be undertaken?

While the Regulations allow for employees to train to become a holder of a CoC, the Health and Safety at Work Act 2015 (HSWA) requires a PCBU to ensure the reasonable safety of all workers, including those under training.

Before conducting any trainee diving, a PCBU must ensure that the minimum diver level pre-requisite competency has been met, and the trainee divers are competent to learn the specific tasks required for that category of CoC. This includes the use of the diver’s breathing equipment and any hazardous powered tools – both of which should be taught in a formal diving course before use in any workplace.

As trainee divers are learning, PCBUs must also consider both the environment and duration of the training as well as competency levels. Dive sites should be assessed to be of low risk, close to appropriate surface and emergency support and in an environment where the focus is on the work skills being taught, not the hazards of the actual dive site. Remote and isolated sites are not recommended.

Further, being a ‘trainee diver’ should be time limited to ensure the diver has an expectation of how long it will take to achieve competency in the assigned work skills and be able to be assessed for all the skills learnt. Most trainee divers should be able to effectively show competency within a few weeks or months, depending upon the complexity of diving and skills required. In any case the trainee period should be limited to six months at maximum, unless there are exceptional circumstances.

What is not considered training?

A trainee diver cannot fill the role of a standby diver – any standby diver must be able to immediately come to the working diver’s assistance, and as such must already hold a suitable CoC. Performing the role of a standby diver is not considered training.

Even though a trainee diver may be considered the CoC diver’s ‘buddy’ when diving, they cannot be counted as an extra ‘working diver’. Doing so without having separate direct supervision may not be considered training and could indicate the diver is working without a CoC.

Dive logging as a trainee diver

It is expected practice that trainee divers log any supervised dives as training dives to achieve a competency requirement or qualification. This practice is clearly undertaken in a formal course environment and should be replicated by all divers under training.

All normal dive log details should be recorded (such as date, location, depth and time) along with details of their supervising diver, other divers in the team as well as the competencies and activities being undertaken. The logs of training dives should then be submitted as part of their CoC application.

Any dives not directly supervised are not considered training or suitable recent experience for the trainee diver and could indicate that the diver may have been working without a CoC.

Medicals for trainee divers

The Regulations require that occupational divers be ‘medically fit’. Due to the health and exposure risks associated with occupational diving, any trainee diver should be medically assessed and hold a diving medical clearance prior to undertaking any training dives under supervision.

Recommendations

The competency requirements for the relevant categories of CoC are the minimum standards for an occupational diver in the respective sectors. Sometimes a risk assessment will identify additional competencies that divers may require.

WorkSafe recommends:

  • A trainee diver must be under direct supervision of a suitable CoC holder when underwater.
  • A trainee diver should hold a suitable medical clearance for occupational diving and have the minimum pre-requisite diving qualifications required to apply for a CoC in that category of diving before starting in-water training.
  • Training should only be conducted with appropriate controls for the safety of both the trainee and supervising diver.
  • Training sites should be assessed as suitable for the trainee diver and with adequate surface and emergency support.
  • At no time should a trainee diver be using any diver’s breathing equipment or hazardous powered tools unless qualified from, or as part of, a formal training program.
  • All training dives should be logged as such with appropriate details included.
  • Employers should aim to achieve the competency requirements in a timely manner with minimal delay. Divers should not be operating as divers-in-training for an extended period.

Further information

WorkSafe occupational diving guidance

Health and Safety in Employment Regulations 1995(external link)

Providing information, training, instruction or supervision for workers

Acknowledgement

This technical bulletin has been developed in consultation with the Diving Industry Advisory Group (DIAG).

Download

Technical bulletin: Occupational divers under training – trainee divers (PDF 164 KB)

MIL OSI

INVESTMENT SUMMIT: Improving access to justice through investment

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Source: New Zealand Government

New Zealand’s justice sector presents investment opportunities spanning the next 30 years, Justice Minister Paul Goldsmith and Courts Minister Nicole McKee outlined at the New Zealand Infrastructure Investment Summit today. 

“In recent years the state of our nation’s courthouses have started to be addressed. Work on a number of significant projects is already underway, including new courthouses in Tauranga, Papakura and Whanganui and major upgrades at two of the country’s busiest courts, Auckland District Court and Manukau District Court,” Mr Goldsmith says. 

“Now we’re looking to take that to the next level. That creates an opportunity for investment. It also means jobs for Kiwis in these areas as the rebuilds begin.

“This government is focused on economic growth and the more investment we can generate, the more benefits we see, as the infrastructure projects bring work and income to the regions.

“That is why we want to accelerate investment and partner with those who can share their expertise in investment property development and innovative funding solutions, and work to create high quality justice infrastructure,” Mr Goldsmith says.

“There are both immediate and longer-term opportunities for investment over the next 30 years,” Mrs McKee says.

“We intend to follow a Public Private Partnership model to design, build, finance and maintain three new courthouses – a new District Court in Waitakere, a combined High and District Court in Rotorua, and a new Māori Land Court, also based in Rotorua.

“This is a project of real significance, with a capital investment of estimated to be over $400m. These buildings will address critical capacity and functionality issues, improve access to justice and enhance service delivery for years to come.

“Investing in justice infrastructure means contributing to improving access to justice, enhancing community safety and supporting economic development.

“And economic development is all about growth and jobs.”

MIL OSI

INVESTMENT SUMMIT: First Fast-Track projects into process

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Source: New Zealand Government

On the first day of the country’s first Infrastructure Investment Summit, Infrastructure Minister Chris Bishop and Regional Development Minister Shane Jones are pleased to welcome the first completed applications accepted by the EPA under the Fast-track Approvals Act to have projects considered by expert consenting panels. 
“The Fast-track Approvals scheme opened for applications just over a month ago. Today, the EPA has announced that three major projects have been assessed as complete to go to expert panels,” Mr Bishop says.
These first three projects are:  

Bledisloe North Wharf and Fergusson North Berth Extension: The Ports of Auckland have said that this wharf extension would enable larger cruise ships to berth, and the expansion would increase New Zealand’s importing and exporting capacity.  
Delmore: This is a development which includes 1,250 residential dwellings in Auckland, claiming to contribute approximately $249.5 million to GDP and generate/support 1,870 full time jobs. 
Maitahi Village: Includes the planned development in Nelson of around 180 residential dwellings (50 being Iwi-led housing), a commercial centre, and a retirement village with approximately 194 townhouses and 36 in-care facility units, with the applicant saying it could have a total economic impact on local business activity of $308 million.

“This is proof to those attending the NZ Investment Summit today that this Government is serious about removing our structural barriers to growth, and doing its part to make infrastructure quicker, easier, and cheaper to build in New Zealand,” Mr Bishop says.
“While this is only the first step in the process, it’s great to see such a wide range of projects in this first tranche – including housing, infrastructure, and involving Iwi/Māori.
“New Zealanders are sick of the red and green tape holding back development, and are excited to take advantage of our new scheme that cuts through this thicket of obstruction, so we can grow our economy and benefit the lives of all Kiwis.” 
“Today’s news shows there is potential, and demand, for a streamlined approvals regime like this to get significant, economy-enhancing pieces of infrastructure built in New Zealand. Projects like this are critical to growing our country’s economy, meaning more jobs and higher wages – making all New Zealanders better off,” Mr Jones says.
“The three projects were included as listed projects in the Fast-track Approvals Act last year, and were able to apply for consideration by expert panels from 7 February when the Fast-track applications portal opened.  
“Now that the projects are deemed complete by the Fast-track team, a competing applications test will be undertaken, and provided there are no competing applications identified, an expert consenting panel will be established to make decisions on the projects and impose any necessary environmental conditions.” 
Editor’s note: 

The Fast-track team will now check if there are competing applications or existing resource consents for the same activity.
Once it is determined that there are no competing application or existing resource consents for the same activity, the next step is for the Fast-track team to provide the application to the panel convener. 
The panel convener appoints a panel of up to four members for each project, generally chaired by a suitably qualified lawyer or planner with experience in relevant law. Panel members must also include a person nominated by the relevant local authorities.
For future decisions on Fast Track projects, once a listed project’s application for is considered complete and in scope, the name of the project and other details will be publicly available and published on the Fast-track website [www.fasttrack.govt.nz].
Each project has its own project web page which provides information about the project, including its status (e.g. “listed”, “applied”, “comments”, “panel considering” or “decision”) and other details, once available.

MIL OSI

INVESTMENT SUMMIT: Māori business success primed for investment

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Source: New Zealand Government

Iwi and Māori businesses will be in prime position to seize international co-investment opportunities at the Infrastructure Investment Summit this week as a recent economic report revealed Māori assets have grown to $126 Billion, Māori Development Minister Tama Potaka says.
More than 100 companies managing about $6 Trillion in capital will converge at the Government’s Infrastructure Investment Summit in Auckland this week, which will showcase Aotearoa New Zealand’s growth sectors and infrastructure pipeline. 
“The release of the Te Ōhanga Māori – the Māori Economy 2023 report by MBIE earlier this week showed Iwi and Māori organisations have formidable financial muscle along with a wealth of cultural insight to invest with international organisations in major government infrastructure projects.
“Growing the Māori economy is about jobs and growth for all Kiwis. When infrastructure is built, employment rises and everyone benefits. That’s why this government is so focused on economic growth,” Mr Potaka says.
A Panel of Iwi leaders, alongside Minister Potaka, will highlight the burgeoning opportunities for investors to work with Iwi and Māori businesses. The Panel features some of the key Iwi leaders driving significant economic growth including Justin Tipa (Ngāi Tahu and Ngāti Mamoe), Rukumoana Schaafhausen (Ngāti Hauā, Waikato), Tukoroirangi Morgan (Waikato), and Jamie Tuuta (Ngāti Mutunga, Ngāti Tama, Ngāti Maru and Te Ati Awa).
“Iwi and Māori are saying we’re here, we’re open for business, and we want to partner with the Government and with the world. The Summit provides an opportunity for them to put their best foot forward and demonstrate areas where international companies can align and invest in opportunities for economic growth.
“The Summit will highlight our cultural interests and intergenerational investment horizon as providing key points of difference globally and competitive advantage in key markets,” Mr Potaka says. 
“Representatives from various large Iwi and Māori companies will also be attending including Ngāi Tahu Holdings with its success in tourism, fisheries and property, Tuaropaki Trust with investments in geothermal energy and horticulture, and Tainui Group Holdings with notable success in commercial properties and infrastructure. 
“While traditional industries such as agriculture, forestry and fishing have long been foundational to Māori business, activity is shifting toward new sectors such as energy, property development, professional services, scientific research and tourism.
“Investing with Iwi and Māori can mean gaining a partner with a deep commitment to intergenerational development, a responsibility to care and grow opportunities in their rohe, and a unique understanding of the local environment and future workforce.”

MIL OSI

Good progress on action to stabilise Disability Support Services

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Source: New Zealand Government

Minister for Disability Issues Louise Upston is pleased with progress to stabilise the disability support system so it can deliver better outcomes for disabled people.  
In August 2024, the Independent Review into disability support services made recommendations to stabilise services and provide a base for further work to strengthen them. 
“Six months on, good progress is being made towards ensuring disabled people receive fair, consistent, and transparent services and supports,” Louise Upston says.
“In addition to running the nationwide community consultation process currently underway, DSS has also made progress in: 

Transferring Disability Support Services (DSS) and its supporting functions from the Ministry of Disabled People – Whaikaha to a branded business unit of MSD, while also ensuring continuity of services and care for disabled people.  
Completing a rapid review of residential contracts and developing a pricing model for residential care. This new model will provide simpler, credible pricing based on the current costs of care and enable DSS to sustainably forecast costs and needs into the future. 
Providing greater consistency across NASCs and Enabling Good Lives sites and ensuring they are prioritising those in highest need. 
Taking action to forecast expenditure and implement more fiscal discipline.
Developing a monitoring function to support continuous quality improvements.  

“Good progress has been made, but there is still work to do so the system is fair, equitable, transparent, and sustainable. 
“The Taskforce will soon begin further work to strengthen disability support services, with more community engagement to come later this year,” Louise Upston says.

MIL OSI

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