Fisher Foley

In a world first, our NZ government has proposed taxing the greenhouse gasses that farm animals make as part of a plan to tackle the climate crisis.

New Zealand farmers may pay for greenhouse gas emissions under world-first plans By 2025, farmers would pay a levy on emissions from sources such as cow burps and gases from their urine under proposals released by Jacinda Ardern

If you're thinking of buying a property or re-fixing an existing one this article on interest rates provides some insights on market dynamics

How long will home owner borrowers' luck hold? When the two year swap rate was last at Monday's level, that was back in May 2010 and the two year fixed mortgage rate was 7.30%. Who says it won't go back to that level?

Logical reasoning as to why the market favours house purchasing now...

Why now is the right time to buy a home Property prices won't be this low for long, says adviser

Informative article about how bank test interest rates work

Ask a mortgage broker: Why are banks secretive about test rates? Mortgage broker Glen McLeod answers your questions about home loans.

The increase in housing stock levels is due almost entirely to a slowdown in sales experienced across NZ.

Home buyers spoiled for choice with a huge increase in the number of homes available for sale Slump in housing sales pushes stock levels up 77% compared to this time last year

Banks are predicting a market correction of around a 20% drop in NZ house prices in the coming year based on tighter credit conditions, higher mortgage rates and increased supply of new housing.

New Zealand banks predict 20% drop in house prices over next year Economists say tighter credit conditions, higher mortgage rates and increased housing supply behind sinking prices

Considering buying or selling at auction? Looks like success rates are dropping considerably...

Less than a quarter of the residential properties being brought to auction are selling under the hammer Auction sales rate 20% in Auckland, 21% in Bay of Plenty, 41% in Canterbury

Co-ownership in property with family and friends may just be the way to bypass saving up a large deposit and get into the property market sooner. Kiwibank are encouraging this as a model.

House co-ownership the new way to get on the property ladder Kiwibank has set up a new system to streamline an alternative home ownership model, aiming to make it easier to go in on a house with friends or family.

Core Logic's economist is predicting "property market activity will continue to be subdued, with sales volumes perhaps declining by as much as 10% this year and another 5% or so in 2023."

CoreLogic says housing sales are the weakest they have been in a decade CoreLogic says the key drivers for housing market slowdown are 'fundamental and longer-lasting'

Be prepared for banks to test your lending serviceability at close to 7% when you are applying for a mortgage...

Revealed: The interest rates banks are using to test mortgage applicants A closer look at how the interest rates banks use to stress test mortgage applicants are due to rise, and possibly be set by the Reserve Bank

Mortgage interest rates have now reached 6 percent for four-year fixed terms. What will be your strategy for fixing your mortgage if buying or re-fixing your current loan?

Watch live: Grant Robertson on interest rates, inflation Mortgage interest rates have hit 6 percent for four-year fixed terms. Finance Minister Grant Robertson speaks to Morning Report about rising rates and inflation.

With a drop in value, perhaps there's an opportunity to buy property in Christchurch?

https://www.stuff.co.nz/business/property/128298210/christchurch-house-values-drop-for-first-time-in-two-years-as-buyers-take-back-control

Christchurch house values drop for first time in two years as buyers take back control Houses are taking longer to sell creating more of a buyers' market though a small fall in values only slightly dents the 32 per cent increase seen in the last year.

Some recent Auckland auction trends in Auckland to help you gauge what is happening in the property market at the moment.

https://www.interest.co.nz/property/115267/sales-rates-barfoot-thompsons-latest-auctions-ranged-15-manukau-and-rodney-33

Barfoot & Thompson auctioning around 200 residential properties a week with 25% selling under the hammer Sales rates at Barfoot & Thompson's latest auctions ranged from 15% in Manukau and Rodney to 33% in the central Auckland suburbs

Interesting article comparing the different taxation schemes on investment property of other countries to ours.

How does tax on NZ property compare to other countries? Despite an extension of the bright-line test, New Zealand’s property market is still lightly taxed compared to the rest of the world.

Views on the new Fair Pay Agreements Bill seem divisive. What are yours?

Reactions mixed as Fair Pay Agreements Bill introduced to Parliament Some business groups are calling for the bill to be canned.

Our boutique, Auckland based firm, is looking for an experienced solicitor, with aspirations to grow into a senior position or partnership. Could this be the right fit for you?

Solicitor/Senior Solicitor - General Practice Job in Auckland Our boutique, Auckland based firm, is looking for an experienced solicitor, with aspirations to grow into a senior position or partnership.

Investment property still seems to make sense in this environment due to the ability to leverage and the low risk/reward compared to some other investments.

Slowdown not a barrier to property investment New Zealand's property market slowing down should not mean an end to investing in property, Gisborne's newest financial advice company says. Enable.me founder and managing director Hannah McQueen said...

Did you know new build investment properties are entitled to mortgage interest deductibility for 20 years currently? That's why many investors are selling up old stock and buying new with the interest rate increases they are also facing. Is this part of your strategy?

More landlords face making a loss on rentals as interest rates rise, Deloitte says Interest rate rises combined with the loss of mortgage interest deductibility could make many rentals cashflow negative, Deloitte partner says.

The housing market is fast turning to a buyer's market. Growth has slowed from a national average of 6% to just 2% over the last 3 months. Might be time to put in that offer? Or will you wait and see if prices drop?

New credit rules, rising interest rates bite as house price growth slows across New Zealand The national average house price now sits at $1,053,483.

Here's what the border reopening means for the housing market New Zealand has started reopening its border to the world, but commentators say it is unlikely to reignite the cooling housing market.

The Government's Healthy Homes Standards became law in July 2019 when it introduced specific and minimum standards for heating, insulation, ventilation, moisture and drainage in rental properties. That being the case - it still has no compliance measures in place over three years on...

Government not collecting data on Healthy Homes Standards compliance "You're not accountable when you're not counting," says Green MP Chlöe Swarbrick.

Good article on housing market changes across the major regions since 2020.

Housing markets continue to weaken as higher interest rates and tighter credit conditions weigh on demand CoreLogic’s House Price Index for February shows the property market has weakened further as credit tightens and interest rates increase. Nick Goodall explores all the latest trends.

Under a new NZ law just passed, performing conversion practices intended to change or suppress someone's sexual orientation, gender identity, or gender expression could result in a prison sentence of up to five years.

Conversion therapy practices now illegal in New Zealand after law passes final hurdle in Parliament But activist Shaneel Lal is disappointed proposed changes to the legislation weren't taken up.

An interesting opinion piece on the ramifications of the proposed employment insurance scheme.

Unemployment insurance: The rorts to come OPINION: The government’s employment insurance scheme will spawn rorts which are the stuff of economics columnists' dreams.

NZ businesses who handle the personal data of Chinese citizens may need to seek legal advice over the country’s stringent new privacy laws even if not based there.

https://www.newsroom.co.nz/china-privacy-crackdown-could-hit-nz-businesses

China privacy crackdown could hit NZ businesses Kiwi organisations working in the country - or targeting its citizens - may have to meet tough new standards.

Proposed changes to the 2003 Holidays Act include new ways of calculating holiday pay and other leave entitlements and also the ability for employees to take annual holidays in advance. Employees will also be eligible for family violence leave, bereavement leave and one day's sick leave from the outset of their employment.

Employers urged to get ready for Holidays Act changes Significant changes will be made to the holidays act this year - affecting both employers and employees. Despite having been amended more than 20 times, the 2003 Act has been a nightmare over the years for many workplaces and staff as payroll systems struggled to understand and apply it - especially...

A case serving as an important reminder to employers to adequately investigate misconduct claims before dismissing a worker. Even though the employee engaged in misconduct, the company did not discover the misconduct until after making a hasty decision to dismiss him and were ordered to pay compensation to him.

Sticky situation for honey company fined over unfair dismissal Employee awarded five-figure sum after not-so-sweet termination

Sunset clauses being invoked by developers are becoming more common especially in this buoyant housing market. The Commerce Commission is encouraging anyone who feels a sunset clause has been used inappropriately to contact them.

Young couple lose first home after developer increases price by $150k Fraser Galbraith and Marina Person are the latest buyers to lose their home after developers cited a sunset clause, and MBIE are now investigating.

Changes introduced to the CCCFA brought new rules for all lenders, including banks.

The new rules make it clearer what lenders are expected to ask, and also introduce new personal liability for directors and senior managers, with penalties of up to $200,000 if their organisation does not comply with the rules. However, some of the reasons for denying a loan such as spending too much on your dog might be taking things a bit far...

Home loan changes: Are the banks taking the rules too far? New rules have turned the mortgage market on its head. But what's actually happened, and have the banks gone too far?