Finance stories
The NZD $600 million seed fund could unlock more housing by speeding roads and water projects, easing a major bottleneck for developers.
Councils in fast-growing areas could unlock thousands of new homes as the government puts up to $600 million into roads and water works.
The property group’s portfolio value topped USD $2 billion after an $89 million revaluation gain, with more uplift expected from developments.
Restricted bank lending in New Zealand is opening the door for developers to secure debt or equity funding from commercial property investors.
The funding will bring forward 10,500 homes in north-west Auckland, but Mayor Phil Goff says the city still needs billions more to cope with growth.
Housing supply and affordability in Hamilton and Te Kauwhata are set to improve as infrastructure funding unlocks 10,700 new homes.
Up to 60,000 new homes could be built years earlier after the government backed roads and waterworks in five fast-growing councils.
Claims from the November Kaikōura quake are mounting, with insurers and the Earthquake Commission still handling thousands of residential and commercial cases.
Claims linked to the quake have reached NZD $1.84 billion, with commercial losses accounting for most of the bill and settlements accelerating.
Proceeds from the final NZD $130 million sale will be ringfenced for public transport and stormwater works as Auckland grows, the council said.
Limited housing growth in Auckland is being blamed on poor infrastructure funding, with the OECD urging new ways to pay for public works.
New Zealand could stretch its GBP £16 billion infrastructure push further by copying Scotland’s simpler planning and delivery model, Infrastructure NZ says.
New roads, rail and schools will be funded as the government lifts capital spending by USD $4 billion in Budget 2017.
More housing and infrastructure funding won approval from the Property Council, though it says New Zealand still needs deeper planning reform.
New funding could help replace ageing roads, schools and hospitals while easing bottlenecks for housing and business growth across New Zealand.
Industry leaders say the extra NZD $11 billion in capital spending could unlock private funding for roads, hospitals and housing.
Tourism and migration are propping up growth, but record household debt and weaker investment threaten New Zealand’s longer-term outlook.
New Zealand taxpayers could face a heavier bill for roads, schools and hospitals unless migrants are charged to help fund growth.
Homebuyers could be locked out for longer unless ministers rethink Reserve Bank rules after governor Graeme Wheeler's exit.
Advertisers gain access to four more New Zealand shopping centres as the deal lifts oOh!media's retail network to 43 centres nationwide.
