Monthly Archives July 2016
July 29, 2016 New Zealand Finance
The Green Party is suggesting that new data is showing that the current government is more interested in supporting housing speculators as opposed to New Zealanders wanting to buy their first home.
According to the Green party of New Zealand, the current government has allowed the country to become a “property speculators’ paradise”.
In a press release issued on July 26th the green party said that data from the Reserve Bank has shown that in June 2016 investors were issued NZD 2.56 billion on loans, while first-time home buyers were issued loans worth only NZD 738 million.
It was also shown that a total of 7 000 loans were issued to investors, while only 1 970 were issued to first-time homebuyers.
The Green party further went on to say that “National is clearly more interested in h...Read More
July 5, 2016 New Zealand Finance
New data suggests that since 2010 more migrants have been approved to work in low-skilled jobs in New Zealand, while the proportion of high-skilled workers being approved has dropped.
Recent modelling completed by the New Zealand immigration adviser AMG Immigration indicates that over the last 5 years a greater number of temporary work visas have been granted to low-skilled jobs.
Over the course of the 2015-16 year high-skilled jobs accounted for 68 percent of all Essential Skills visas approved in New Zealand, however, in 2010-11 such jobs made up 73 percent of all approvals.
Further, in 2010, top-tier applications made up the biggest proportion of approved visas, representing approximately 33 percent of all approved Essential Skills visas, but in 2015-16 the proportion had dropped to 23...Read More
July 4, 2016 New Zealand Taxation
The New Zealand Council for Infrastructure Development is calling for the cost of new housing developments to be passed to buyer, not developers.
In a press release on July 4th the New Zealand Council for Infrastructure Development (NZCID) called on the government to implement a plan for the payment and collection of funds from the newly announced $1 billion interest free housing infrastructure loan.
Over the weekend the government announced its new program which would grant loans to local councils to pay for infrastructure developments to new residential property areas.
The NZCID cautioned that if “development levies” were used to pay for the loans, land developers would end up facing higher risks, and, ultimately, passing on the risks in the form of higher prices to buyers.