ANZ says there could be a rush of property listings in the next four months and the Auckland housing market could be at a turning point

Tweet Image sourced from Shutterstock.com ANZ’s economists believe there may be a rush of new property listings in the next four months, as vendors and investors try to beat the October 1 introduction of new tax and mortgage lending rules on residential property investments. In a research report,  ANZ said although uncertainty surrounded the precise impact of the proposed changes, it suspected it could …

PM says new two year 'bright line' test for property traders is not a Capital Gains Tax; denies Auckland property a bubble; denies move was knee-jerk response to polling; Labour says PM forced to 'eat his words'

Tweet PM John Key talking to reporters in Parliament on May 2. Photo by Lynn Grieveson for Hive News. By Bernard Hickey Prime Minister John Key has denied accusations that the Government’s new two year ‘bright line’ test to force property traders to pay tax was a Capital Gains Tax in disguise. The move to assume rental property investors who …

Elizabeth Kerr talks Budget values ahead of this Thursday’s announcement

Tweet Image sourced from Shutterstock.com By Elizabeth Kerr This Thursday is ‘Budget day’ and I’ll be sporting my most tantalising pony-tail (that joke will never get old) down at Parliament with other “media” for the early sneaky-peek at what cheques Key and his team intend to write this year.   Journalists, economists and financial analysts are locked away together from 10.30, …

New Zealand's biggest mortgage bank removes most 'specials' but cuts all its standard rates. The result is nothing especially competitive

Tweet Hot on the heels of mortgage rate changes by Kiwibank, ANZ has announced changes as well. ANZ has removed all its ‘specials’ except its two year offer. But it has cut all its standard rates and some of the new standard rates are lower than the ‘specials’ abandoned this morning. Their six month rate has been reduced by -21 bps …

The NZ Initiative's Jason Krupp says the future for urban transportation lies with the car – albeit an updated version

Tweet Image sourced from Shutterstock.com By Jason Krupp* For public transit advocates wondering what form transport networks will take in a future increasingly concerned with urbanisation, congestion and energy efficiency, here is one probable answer: It will have four wheels, a small seat capacity and travel on the road. Yes, it is the car. This is the view of the International Transport …

The Opening Bell: Where currencies start on Monday, May 18, 2015

Tweet By Dan Bell The NZDUSD opens at 0.7450 (mid-rate) this morning. The NZD has underperformed against all its major trading partners after another weekend dominated by weak U.S data releases. Headed by the U.S. consumer sentiment index, the Empire State Manufacturing Index, Capacity Utilization Rate and Industrial Production m/m all printed below economists’ estimates. The consumer sentiment index fell from 95.9 …

Biotech stocks at mercy of health reports

Last Thursday we saw a tale of two biotech companies. If you need evidence investing in medical research stocks is a lottery, this is the story for you.First we have Sirtex Medical, a Sydney-based company that provides radioactive…

US data disappoints sinking the US dollar mainly benefiting the euro. NZD fell against the euro. Eyes on RBNZ survey and dairy auction this week

Tweet By Kymberly Martin kymberly-martin.gif The USD closed lower on Friday night after a trifecta of disappointing US data. On Friday night, the USD traded higher until the release of an array of US data that came in below expectation. Data covered both the manufacturing and consumer sectors. The soft April industrial production data reflected a fall in utilities output after the …