Tag: New Zealand

Making Banking Work… For People! [Podcast]

I discuss the creation of Kiwi Bank, a National Bank In New Zealand with one of its architects Hon Matt Robson.

Matt Robson’s commercial experience began in the Netherlands thirty years ago, working in the oil industry. This introduced him to the rigours of international commerce, budgets, deadlines, understanding complex commercial operations and structures, it also gave him management experience and familiarity of working with a multicultural, multilingual workforce, where reading and writing in foreign languages was a necessity. As a result he is fluent in speaking reading and writing Dutch, speaking and writing French and German and competent in reading Spanish.

In the 1970’s Matt qualified with a Diploma in Teaching and taught through the 1980’s in a number of secondary schools in New Zealand the majority in the South Auckland area.

In the 1980’s-1990’s Matt became engaged in party politics. As deputy leader of both the Alliance and Progressive Parties he acted as spokesperson and policy developer across a wide spectrum of policy issues in areas as diverse as economic development, social matters and international affairs.

Matt was a Cabinet Minister in the Labour-Alliance Coalition Government (1999-2002) and was allocated the following portfolios: Minister of Corrections , Minister for Land Information, Associate-Minister of Foreign Affairs (responsible for official Overseas Development Aid [ODA]), Minister for Disarmament and Arms Control.

He was also a significant driver in achieving justice for Algerian asylum seeker Ahmed Zaoui, both while as a Member of Parliament and as an independent barrister/solicitor.

He continues to practice law in Auckland and specialises in immigration law and migrant advocacy. Matt remains active in advocating global peace and justice and is a regular speaker at disarmament and anti-nuclear conferences around the world.

Go to the Walk The World Universe at https://walktheworld.com.au/

Digital Finance Analytics (DFA) Blog
Digital Finance Analytics (DFA) Blog
Making Banking Work... For People! [Podcast]
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Making Banking Work… For People!

I discuss the creation of Kiwi Bank, a National Bank In New Zealand with one of its architects Hon Matt Robson.

Matt Robson’s commercial experience began in the Netherlands thirty years ago, working in the oil industry. This introduced him to the rigours of international commerce, budgets, deadlines, understanding complex commercial operations and structures, it also gave him management experience and familiarity of working with a multicultural, multilingual workforce, where reading and writing in foreign languages was a necessity. As a result he is fluent in speaking reading and writing Dutch, speaking and writing French and German and competent in reading Spanish.

In the 1970’s Matt qualified with a Diploma in Teaching and taught through the 1980’s in a number of secondary schools in New Zealand the majority in the South Auckland area.

In the 1980’s-1990’s Matt became engaged in party politics. As deputy leader of both the Alliance and Progressive Parties he acted as spokesperson and policy developer across a wide spectrum of policy issues in areas as diverse as economic development, social matters and international affairs.

Matt was a Cabinet Minister in the Labour-Alliance Coalition Government (1999-2002) and was allocated the following portfolios: Minister of Corrections , Minister for Land Information, Associate-Minister of Foreign Affairs (responsible for official Overseas Development Aid [ODA]), Minister for Disarmament and Arms Control.

He was also a significant driver in achieving justice for Algerian asylum seeker Ahmed Zaoui, both while as a Member of Parliament and as an independent barrister/solicitor.

He continues to practice law in Auckland and specialises in immigration law and migrant advocacy. Matt remains active in advocating global peace and justice and is a regular speaker at disarmament and anti-nuclear conferences around the world.

Go to the Walk The World Universe at https://walktheworld.com.au/

New Zealand Home Prices Take A Dive In June…

The REINZ released their latest reports to June 2022, and were are pains to talk about the annual price movements, not the monthly changes, which was down 1.9% overall.

And according to their HPI you can see why. There is the remnants of a run up, which masks the falls following the RBNZ rate hikes which started late last year. Falls are in play almost universally, including the Upper North Island, Lower North Island and the South Island. But there are some variations.

The largest one-month falls were in Wellington City, down 5.7%, Dunedin City down 3.6%, Nelson down 2.9% and Queenstown down 2.4%. In the North, Turanga City fell 4.3%, Hastings 3.9%, Palmerston North 3.3% and Auckland City 2.8%. On the other hand, Rotorua was up 2.3%, Upper Hutt up 1.6% and Christchurch City up 0.6%, the same as Auckland’s North Shore City.

They did concede listings were up, days on market were increasing, and the proportion of sales via auctions were falling.

They refer to their median price calculations, where the median change was up 1.2% across the country, or 1.5% seasonally adjusted. But the spin machine was in full misdirection mode in their report.

Go to the Walk The World Universe at https://walktheworld.com.au/

Kiwi’s Get Crushed Some More…

As expected, the Reserve Bank In New Zealand lifted the official cash rate by another 0.5% to hit 2.5%

They said The Monetary Policy Committee agreed it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability and support maximum sustainable employment. The Committee is resolute in its commitment to ensure consumer price inflation returns to within the 1 to 3 percent target range.

The latest edition of our finance and property news digest with a distinctively Australian flavour.

Go to the Walk The World Universe at https://walktheworld.com.au/

Kiwi’s Vote With Their Wallet…

A quick look at the very gloomy New Zealand Household Confidence Index.

The News From New Zealand is getting worse and worse (such that next years election result will now be really interesting). The latest is from the Westpac Mcdermott Miller Consumer Confidence survey results released this week.

https://www.westpac.co.nz/assets/Business/tools-rates-fees/documents/economic-updates/2022/Bulletins/Q2-Consumer-conf-Jun-2022-Westpac-NZ.pdf

Confidence among New Zealand households has plummeted, dropping to its lowest levels since we began surveying consumers back in 1988. The Westpac McDermott Miller Consumer Confidence Index fell 13 points in the June quarter to a level of 78.7. Confidence has only come close to these sorts of lows twice before – first during the recession in the early-1990s, and then again during the Global Financial Crisis in 2008/09.

Go to the Walk The World Universe at https://walktheworld.com.au/

New Zealand’s Emerging Property Disaster!

We look at the latest data from New Zealand, and how the property portals spin the story of rising stock, falling prices and confidence, against rising mortgage rates.

And we can probably extrapolate what may be going to happen here in Australia in the months ahead, considering our rate is well below the current NZ OCR of 2% – ahead of the RBA decision Tuesday, when we expect a 0.4% rise.

Go to the Walk The World Universe at https://walktheworld.com.au/

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Three Big Housing Nasties…

We look at recent commentary from New Zealand highlighting three forces which are combining to drive home prices lower. In fact, we argue they are three for the four horses of the apocalypse. As a result, expect prices for fall further and faster. And this is an objective lesson to Australia, who is about 6 months behind.

Go to the Walk The World Universe at https://walktheworld.com.au/

New Zealand Recession Bells Are Tolling!

An excellent BNZ report really underlines the pressures on the New Zealand economy. A recession could well be on the cards. Take note, as NZ is months ahead of Australia and other countries in trying to unwind overgenerous QE and too low interest rates. Question is, will the medicine kill the patient?

Go to the Walk The World Universe at https://walktheworld.com.au/

Pop Goes The NZ Home Price Weasel!

REINZ Released their data for APRIL, and as expected property prices and momentum are moderating, with a further slowdown in sales activity, more moderate price growth and, as properties stay on the market for longer.

Across New Zealand, the number of residential property sales decreased annually by 35.2% in April 2022, from 7,497 in April 2021 to 4,860. The sales count for New Zealand excluding Auckland, decreased 31.7% annually from 4,815 to 3,287.

Go to the Walk The World Universe at https://walktheworld.com.au/

The Bank Of Mum And Dad Is The Fifth Biggest Lender In New Zealand!

Research from Consumer NZ highlights the role of the Bank of Mum and Dad in New Zealand, in parallels similar to those already seen in our research in Australia.

Many kids can only get into property thanks to inter-generational wealth shifting, and in some cases this is also putting parents under financial pressure. This is a sign on long term property failure.