The wrong investment – Mike Chapman:
House prices across the country have risen nearly 20% to a median $725,000 in the past 12 months. At the same time, New Zealand’s Reserve Bank has announced a $28 billion programme aimed at forcing down borrowing costs and left the official cash rate at 0.25%.
Thankfully though, the Reserve Bank is concerned about the residential property market, with Governor Adrian Orr commenting that the Bank “has seen a marked acceleration in higher risk loans, particularly to investors in the property market”. As a result, the Reserve Bank is considering imposing loan to value ratio restrictions, in a bid to curb risky lending in the residential property market.
Simply put, investing in residential property will not aid New Zealand’s recovery from the current economic downturn. The housing market does not produce products that can be eaten or used by consumers. It does not create jobs, and it does not earn overseas return through exports. It is a wasted investment when what we should be investing in is New Zealand’s economic recovery.
This is, in my view, where the Reserve Bank’s focus should be: enabling significant investment in businesses that will drive our much-needed economic recovery and create jobs. . .
A Lake Ōhau resident says thousands of dollars worth of native plants and 80 predator traps went up in smoke when the fire tore through the village earlier this month.
More than 5000 hectares and multiple properties were burnt in the blaze.
Before the fire, Lake Ōhau was surrounded by dryland with tussocks and shrubs, special plants that could survive the dry summers and bitterly cold winters. Beech forest grew down onto the lakeshore and along three creeks that drain the hills behind the village.
It was home to native birds, lizards and insects. . .
Mission to empower, inspire women – Sally Rae:
When it comes to goals, Steph Matheson dreams pretty big.
Mrs Matheson (27) is on a mission: to make sure women feel they are not alone, that they are confident and comfortable “in their own skin” and that they feel as if they can do anything.
Through Project Steph 2.0, her personal blog, her overarching goal is to spread that message globally online.
It is not all unicorns and fairy dust; her content is realistic and raw as she talks about health, wellness, family and rural living in Gore. . .
Young auctioneer outbids to win coveted title – Annette Scott:
Andrew Sherratt was not just going for the bid, he was gunning for the title when he took up the gavel in the 2020 Young Auctioneer of the Year competition. He talked with Annette Scott.
When Andrew Sherratt was finishing up his studies at Lincoln University he wasn’t certain what career pathway he would take.
But with the prestigious New Zealand Stock and Station Agents’ Association (NZSSAA) Young Auctioneer trophy in hand, he is convinced he eventually made the right decision.
In one of the closest contests yet, Sherratt headed off the seven finalist contestants in the ninth annual 2020 Heartland Bank Young Auctioneer competition held at Canterbury Agricultural Park. . .
Fruit and vegetable prices fell 5.6 percent in October 2020 as the local growing season picked up, Stats NZ said today.
Fruit and vegetable prices follow a very seasonal trend and typically fall in October, with the lowest prices for the year in summer.
“Warmer weather makes it easier to grow many crops, with higher supply making these products cheaper,” consumer prices manager Nicola Growden said. . .
Mt Cook Alpine Salmon and Central South Island Fish & Game Council released 50,000 smolt into the crystal clear waters of Lake Tekapo last week.
The young salmon, which are about two years old, were raised at the nearby Mt Cook Alpine Salmon Ohau hatchery on the Ohau Canal. Last week’s release was part of the Fish & Game Council’s “put and take” programme in Lake Tekapo, developed over the past 10 years.
Fish and Game officer Rhys Adams says the release will “reinvigorate” the salmon fishery in the lake, but they will need time to grow to between two and four pounds.
The tanker load of smolt was taken to the outlet of Lake McGregor on the western shore of Lake Tekapo for release. . .