The Kiwi Economy On A Knife Edge… As More Leave!
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- Опубліковано 13 чер 2024
- In this show we will look at some of the recent data relating to the New Zealand economy, which is sitting in a high interest rate, recessionary condition, as the Reserve Bank of New Zealand wrangles inflation towards its targets. We saw a significant rise in people leaving the country, with New Zealand Citizens voting with their feet!
So, we will look at the latest on property prices, retail spending and the latest inflation and migration updates. Overall, things remain very tough, though inflation while remaining sticky, is easing slowly.
So, standing back, clearly the New Zealand economy is not out of the woods yet, but the Reserve Bank of New Zealand’s approach of lifting rates higher than Australia does appear to be pushing inflation in the right direction. The uptick in exits from New Zealand suggests perhaps that some are deciding to jump ship, because households are clearly feeing the pressures. And recent policy changes will likely continue to reduce net overseas migration, with potentially significant impacts on the jobs market, and demand for property.
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New Zealand is clown show like Australia
The biggest problem is so many are coming here. I don't mind Kiwi's but its putting yet more pressure on the Aussie housing market.
Some Aussies are buying the real estate in NZ for holiday homes so I wouldn't begrudge too much. Kiwis have been priced out of the market, even for renting.
Can we stop them coming over? is there a quota for them ?
I got a beautiful villa in New Zealand. I bought it in 2007 and spent 350k doing it up. People rent it. I rent here. Our worlds are interchangeable and mutual suitable for great lifestyles. Go for a nice drive in the county, see mountains with snow, or see the beautiful Queensland coast line with its soft beaches. Then swap back again. Our grandfather’s stood by each other in two great European wars. I hope that freedom of exchange never changes. Everyone needs to relax.
@@todretex You are right, kiwis are typically going back and forward and you can't tell where people are from to start with. People do need to chill about the different accents and learn to cope.
@@gold3084 wouldn’t sweat it. The government sends all the annoying ones back.
My dad, left 30 years ago for Aussie . He said to me “ NZ will end up like Fiji, a nice place to visit but you wouldn’t want to live there.
Interest rates are about to rise .beware.
Going to rise… everywhere
Yup IMF literally said at the start of the year that rates wouldn't be coming down for quite some time, and there will be no soft landing, then laughed in evil.
But people won't listen unless its on the tv.
My husband and I left nz of Oz 16 years ago, best decision ever
Have you signed up for your digital ID yet?
I moved back to NZ some a few years ago, Australia is simply not what it used to be while NZ has picked up a bit, there is not a significant difference depending which cities or towns you are comparing. Most "Kiwis" moving to Aus these days are not actually born in NZ, its immigrants using NZ's slightly easier migration system as a back door to Aus.
The rates are not high enough, but the repayments to service the debt are off the richter…well, where does it go from here ? My guess, it will get harder for more, and then it will be a signal to sell, if you haven’t got adequate buffers, you can only stretch a steel spring so far before it breaks…
The majority of people will not or cannot just pack up and move to another country after a year or 2 of recession. NZ is well known as a back door to Australia if you have been refused direct entry so some of that movement would be these people who have bought forward their move as soon as the qualify. If your moving to a major city in Australia the situation might not be a whole better.
Yes especially Victoria which has also been destroyed by years of socialism
Some NZ retailers are having sales on a more regular basis and advertising harder, offering coupons and discounts etc. I left Auckland but the retail landscape has totally changed there with parts of Newmarket empty like it was in the 80s but worse as Smith & Caughey's is closing. It's too easy to shop online and cheaper so that's part of it.
Online is super cheaper. My wife has been buying even clothes on temu for less than $10 a piece. I for one rarely buy a thing. 😂. Still have shoes from 2010😂😂
Our Central Planner got us into this steady drop in living standards by transferring wealth to those who already had it for 40 years.
They can definitely fix this in 6 months. For sure.
Good to hear your comments on the NZ economic situation. Almost nothing mentioned on our local news.
And ... Australia is expected to 'absorb' them?
Yep 😔
Albo’s got your back 😂🤣😂🤣
Sweden gave migrants their marching orders will it happen here. Not because they don't like them just their belief's.
Yess...it's not just the Numbers,it's the Who those numbers are...some immigrants or ,"refugees" are more trouble in the long run than they are ever worth... interesting that their own culture or belief system won't take them in.
NZ dept of stats should report mthy cpi and gdp, rather than quarterly
Our juvenile gaols have felt the enrichment.
The Great Replacement !
Thank you Martin for the NZ summary . Raise rates further show the ant people debt spending on SUVs, iPhones and overseas holidays is ridiculous. Just yesterday a lady was having issues in front of me with her Afterpay when a friend arrived and wished her a great trip for her holiday to Greece 😂🤣. She proceeded to not want a receipt emailed to her as her purchase would be seen by her husband! Absolutely absurd. Some boomers were blowing on about their recent trip to Thailand (trip no 27!). They soon were red faced after I mentioned with the pension you can afford 4 trips a year! They could not believe I as a Gen X knew they as a retired couple receive $41,600 per annum after tax. They did get me back though by stating and laughing it will be 70 years old by the time we retire. People and younger generations are losing respect for older generations as they are forced to fight over the crumbs leftover and a ballooning National deficit that can only be repaid by further taxing the working class despite the measly tax cuts delivered in the latest budget which are offset by huge other related increasing costs you highlighted thank you Martin.
Thanks again Martin.
No worries
Thanks 🙏
You’re welcome 😊
Seasonal slowdown. Guess you’ve never been to Queenstown.
What are 'ant people'?
Hello Martin 🙂
HI
Rental inflation will spike again with councils imposing 20% rate rises on property
Given that means they are all going to come here (Oz), it will lower the interlectual bar in Australia, and raise it in NZ...Shame really - They win, we lose...
Lot left in the 90s also Nothing new .
Wheres Jacinda now I thought she was an amazing female leader that the word needs more of
She walks on water and swims through land!
Expensive with bad weather. Dump of a place
Then there’s the gangs
Weather is not as a bad as the rap it gets, compared to Australia thats pretty hard to be that hot sunshine but its way better than any European climate most the time.. At least Australias can enjoy some of the best snow boarding in the world without going a on a long airplane trip
Keep that narrative going we don’t want anymore ant people here😂🤣😂🤣