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NZ Weekly Focus - Inversion aversion

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Economic overview

New industrial units for lease at Te Rapa Gateway

Amidst a shortage of industrial property available for lease in one of New Zealand’s fastest growing regions, a new tranche of six warehouse-office buildings at Hamilton's Te Rapa Gateway industrial park have been put on the market for lease off the plans.

Dollar sinks, futures diverge ahead of China data - CMC Markets

By Michael McCarthy, chief market strategist, CMC Markets and Stockbroking

Services sector activity softening

Activity in New Zealand’s services sector softened in June, according to the BNZ - BusinessNZ Performance of Services Index (PSI).

First unlicensed builder prosecution under the Crimes Act

For the first time since the introduction of the Licensed Building Practitioners (LBP) scheme, an unlicensed builder has been prosecuted by the Ministry of Business, Innovation and Employment under the Crimes Act 1961.

International travel quiet in May - Stats NZ

May 2019 saw 219,300 visitor arrivals and 235,200 New Zealand resident arrivals, Stats NZ said today.

"May is typically a quiet month for international travel to New Zealand," population indicators manager Tehseen Islam said.

Migration remains high in 2018 - Stats NZ

Annual net migration was provisionally estimated at 50,200 (± 800) in the year ended December 2018 compared with 52,600 in the previous year, Stats NZ said today.

"Net migration has remained high since 2014, with a peak in 2016," population indicators manager Tehseen Islam said.

The Co-operative Bank shares $2.1m profit with its customers

Over 115,000 New Zealanders will receive a welcomed addition to their bank accounts today as The Co-operative Bank shares its annual rebates pay out. This year’s $2.1 million rebate takes the total amount of profits the Bank has shared with its customers since 2013 to more than $12 million.

Mobil systems fail to address illegal docking of workers' pay

The Employment Relations Authority (ERA) has ordered a South Auckland petrol station, Mittal and Son Limited (MSL), trading as Mobil Porchester Road, to pay $20,000 for breaches, likened to the workers having to pay a premium to keep their jobs.

Urban expansion brings commercial property investment opportunities onto market

Urban expansion brings commercial property investment opportunities onto the market

A portfolio of four retail units within new development projects in Queenstown - encompassing both commercial accommodation and mixed-use residential sites - has been placed on the market for sale.