September 1, 2025 • 34 mins
On the Early Edition with Andrew Dickens Full Show Podcast Tuesday 2nd of September 2025, the government's made moves of the foreign buyers ban, former Labour minister Stuart Nash shares his thoughts.
Interest rates are softening but the property market’s still in limbo, Jeremy Andrews from Key Mortgages provides analysis on the latest Centrix Credit data.
The NZ Initiative has done a report which found we have about three times as many ministries as countries we like to compare ourselves to, PSA National Secretary Fleur Fitzsimons shares her thoughts.
Plus, Australia Correspondent Donna Demaio has the latest on Anthony Albanese speaking on the Nauru deportation plan.
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Episode Transcript
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Speaker 1 (00:01):
The issues, the interviews and the insight. Andrew Dickens on
an earlier is show with One Root Love where You
Live News Talks.
Speaker 2 (00:09):
It'd be well, good morning, welcome to Tuesday. Thank you
for joining us. I'm Andrew Dickinson for Ryan Bridge, who's
on holiday on the program today. Another report criticizes the
number of ministries in New Zealand. So how many public
servants or how are public servants feeling about the whole
idea of cutting down the number of ministries? Will have
the PSA on in about five minutes time. Interest rates
(00:30):
are falling and mortgage lending is up. So why is
our housing markets still in limbo? That story in ten
and tomorrow is crunch day for water. I'll fill you in.
Are things getting better or are we stuck in the
same funk? And the big story the government has loosened
the foreign buyer band, meeting that foreigners with the Golden
Visa will now be able to buy a home with
more than five million dollars. But will this attract the investors?
(00:52):
Stuart Nash will be joining me on how to sell
the idea to foreigners just before six. We'll have correspondence
from all around New Zealand. Don Demaio's US from Australia
and you can have your say on the text. The
number is ninety two ninety two. A small charge does apply.
It's seven minutes after five.
Speaker 3 (01:09):
The agenda.
Speaker 2 (01:10):
It's Tuesday, the second of September. More than eight hundred
people have been killed and thousands others injured after a
six magnitude quake hit eastern Afghanistan. Offici'll say most deaths
are in the Kunar province and are warning the death
toll could climb as entire villages lie in ruins.
Speaker 4 (01:28):
The area as described is really really difficult. The terrain
is mountainous. This is a place where homes are almost
built on top of each other in a sort of telespace.
So when an earthquake, if this magnitude happens, these homes
are tumbling on top of each other. And because it
was so late a pint people wear up their homes.
Speaker 2 (01:49):
Now to China we go and put in a mahdi
had their meeting at the summit in Beijing. By the way,
Kim Jong un is on his way in an armored
train for Beijing's big military parade tomorrow.
Speaker 5 (02:00):
With this one army between China, India and Russia. Mister
Mardy is showing that he cannot be pushed into a
corner by the US and is answering back. And that's
what his supporters are saying.
Speaker 2 (02:13):
And the summer's Vladimir Putin claimed he's reached understandings with
Donald Trump on ending the war in Ukraine after talk
to Alesca last month.
Speaker 3 (02:21):
He is saying that he welcomes China and India in
their efforts to bring it to an end, but underlining
again that as far as he's concerned, that has to
be on his term. So totally maximalist position from Russia.
Speaker 2 (02:33):
And I'll have more on this big week in China
in Beijing in just a few moments time. And finally,
it's been forty years since the discovery of the Titanic
at the bottom of the Ocean where so the Titanic,
(02:59):
the un thinkable ship, encountered an iceberg on the fourteenth
of April nineteen twelve on its first ever voyage. It
was found in the Atlantic seventy three years later, on
this day in nineteen eighty five, I went in my room.
You knew something had happened, and one man said, look
at that that's an iceberg and it's a waba.
Speaker 1 (03:23):
The first word on the News of the Day early
edition with Andrew Dickens and one Root Love Where you
Live News Talks, I'd be.
Speaker 2 (03:31):
It's ten out to five. I don't know about you,
but I am just a little bit unsettled by this
Shanghai Cooperation Organization's summit that's been happening over the weekend
and into this week. President z of China has been
welcoming leaders from around Asia in sixteen leaders of countries
they call dialogue partners. And the point of all of this,
of course is to talk trade and to talk partnerships,
(03:52):
but it's also to challenge the US led summits like
NATO or G seven talks, to prove that nations excluded
from those organized stations have something to say about the
world as well. The role call of those attending the
summit is a real rogues gallery. We've got putin from
Russia there, Madi from India, one from Turkey, and of
(04:12):
course the Chinese representatives of an enormous block of the
world's population, and all with a bit of a beef
with America in the west. Right now, now, North Korea
is not there for the weekend, but Kim Jong un
is attending the separate military parade in Tianaman Square in
Beijing tomorrow. That's being held to commemorate the eightieth anniversary
of the end of World War II. So that parade
(04:32):
is going to see Putin and Ji and Kim Jong
un all sitting there watching China's tanks and missiles and
soldiers marching up and down Tianaman Square. That's not at
all scary, is it. And you know this is going
to drive Donald Trump absolutely crazy with jealousy because huge
crowds will be there. It's going to be Kim Jong
UN's first meeting with jig in over six years, and
(04:54):
his first major international appearance with other world leaders like
Putin since taking power back in twenty eleven. He is
in from the cold, and China and India, well, they
have been helping Russia fund the war in Ukraine. North
Korea have been providing soldiers in the conflict. They're all
having a big day out in Beijing. You know, it's
kind of like a summit of the bad guys, and
(05:15):
they're saying to the West, you no longer call the shots,
And you can't help think that Donald Trump's gung host
style of diplomacy that sees him thinking he can cut quick,
easy transactional deals and stop wars cold seems to be
having the opposite effect. Instead of stopping the bad guys,
seems to be driving them closer together. Now, by the way,
(05:36):
Helen Clark and John Key will be our representatives at
this parade. They were invited. They're paying their own way.
They think they were invited because they were involved back
in the day in the New Zealand China Free Trade
Agreement and to represent New Zealand after our involvement in
the Pacific War. And Helen Clark thinks it's important to
be an heir at things like this, and I agree,
And I'll talk more about why this big parade is
(05:57):
actually a real big deal for the Pacific a bit
later on in the program. It's twelve minutes after five.
So the New Zealand Initiative have been looking at just
how many public servants we have, how many ministries we have,
how bloated the whole bureaucracy is it is, and there
is a war against public servants, and that's true, and
we're trying to cut things down and rationalize things so
(06:17):
how is the PSA who represents these people feeling about this.
We're talking to them.
Speaker 1 (06:22):
Next on your radio and online on iHeartRadio early edition
with Andrew Dickens and one roof Love where you Live.
Speaker 2 (06:32):
Used talk said being it is I point fifteen. How
many ministries is too many? Will? A report out today
says we have way too many? The New Zealand Initiative
reckons we could easily cut over twenty departments and actually
make our bureaucracy run smoother. So Flur fitz Simons is
the PSA National Secretary and she joins me. Now, Helloflur,
(06:53):
there we go, Flirt. Sorry the buttons wasn't working very well.
Hello Flur, good morning. So we got eighty one minister
report foit eight ministers, forty three departments, three times as
many portfolios and nearly twice as many departments as comparable
countries like Ireland. Surely this can be rationalized.
Speaker 6 (07:12):
Well, we don't object to the discussion about this, but
I think you have to understand that it's taking place
in a political context driven by the act Party. He
David Seymour was very supportive of an earlier version of
this report, and he's been consistent in saying we need
to dismiss thousands more public servants and we need to
move towards models of privatization. Now, I don't think that's
(07:35):
going to find favor with New Zealanders, and I think
it would be very dangerous for the delivery of public services.
So there's a lot of red flags of this report.
Speaker 2 (07:43):
Do you really think it's just ACT Party and the
ACT Party supporters that are a bit worried about the
bloated size of our public service? Don't you think it's
much more widespread?
Speaker 6 (07:52):
Well, when you said bloater, let's look at some of
the proposals in this report. They, for example, suggest merging
the Cancer Control Agency into the Ministry of Health. In
New Zealand, we've had cancer advocates for years calling for
an agency to hold our health system to accounts. They
finally got it in the Cancer Control Agency. This report
(08:14):
doesn't look at the value of that agency, the history
of its creation, or the importance of its work. It
simply looks at numbers. Now, when you do that, when
it comes to something like public policy, it's actually very dangerous.
But no, I don't think it's as simple as the numbers.
Speaker 2 (08:28):
Where is the go to for advocates when they say
we've got to do something about cancer, to or just
automatically say well, let's have another ministry, let's have another department,
let's have another bureaucracy.
Speaker 6 (08:38):
Well, I don't want to downplay the work that those
patient advocates did in the frustration that they felt with
our health system when it came to getting decent cancer treatment.
But it's not just those patient advocates. If you look
at what happens in New Zealand where we have a
disaster or a significant event that we need to investigate,
we set up a Royal commission Hype River abuse in
(09:01):
state care, the christ Church terrorist attack. Now those commissions
look carefully at what went wrong that lead to these
disasters and how we could do better. If you look
at the recommendations of those commissions, none of them say
less public services or less investment in public services. They
all say we need to do more, we need to
look more carefully. Here's how we need to set up
(09:23):
our public policy administration in New Zealand.
Speaker 2 (09:25):
Let's just take the money out of it, let's take
the advocacy out of it. But doesn't the amount of
bureaucrats we currently have just lead to confusion and are
slowing down of our public service. For instance, MB currently
answers to twenty different ministers. That's confusing.
Speaker 6 (09:41):
Well, actually that's the kind of consolidation that this report's
asking for more of. So if that's confusing, then the
reporter is itself confusing, and I think it is. It
actually just takes a numerica and that analysis and overlays
it onto public agencies. There's no proper assessment of the
importance of, for example, the work of the Ministry for
(10:01):
Woman or the work of the Ministry for Pacific people,
their history, the role that they play, and I think
it's just through some plastic when you look at it
that way.
Speaker 2 (10:09):
All right, flirt, and I thank you so much for
your time today. Flur Fit Simons is from the PSA.
She is the National Secretary of the PSA, and of course,
as we all know, Turkeys don't vote for Christmas, so
she's not going to look very fondly on any rationalization
of any job at all. Text through from Howard fitz
Simons is out of touch. Countries of similar size have
way less bureaucrats. Where a city the size of a
(10:32):
city with sixty five thousand bureaucrats, and that is just
ridiculous thinking for your text, Howard ninety two to ninety
two is the numbered the phone? A bit of bad
news around at the moment for a couple of former
American high fliers. You may know the names. Robert Muehler,
the former head of the FBI, has Parkinson's. He's using
that condition to get out of testifying about the FBI's
investigation into Epstein. And Rudy Giuliani, the man with the
(10:54):
melting hair, the former New York City mayor and lawyer
for President Trump. Rudy suffered a fractured vie in a
car crash in New Hampshire. So the interest rates are
going down, but the housing market is still stuck. What's
that about. We'll talk about this with a mortgage broken
next here on news Talk ZBB. It's five twenty.
Speaker 1 (11:12):
Views and views you trust to start your day. It's
earlier this Ship with Andrew Dickins and one roof Love
Where you live newstalks'd B.
Speaker 2 (11:21):
So let's talk about property. Interest rates are softening and
the proper property market though, is still in limbosh. Excuse me,
So we've got centric data which was out today. It
shows new mortgage lending is up twenty five percent year
on year, listing's up nine percent, and yet prices remain flat.
So is now really the time to buy? I'm joined
by Jeremy andrews Now. Jeremy's a mortgage broker at Key Mortgages,
(11:44):
and I thank you for joining us. Good morning to you, Jeremy,
Good morning Andrew. You're noticing the uptick and new mortgages.
Speaker 7 (11:52):
It's kind of up and down a bit at the moment. Suddenly,
the last couple of months were very big months turn
around times with banks were really blowing out. But it
has dropped off just a little bit now, so it's
kind of it comes in waves.
Speaker 2 (12:08):
With the mortgage lending up twenty five percent of people
are borrowing and yet not buying. Then what are they
spending the borrowed money on.
Speaker 7 (12:19):
It's probably just around when they're buying. I think we've
certainly got We've got a lot of people at the
moment just getting pre approved. Interest rates have dropped a lot,
especially with their latest OCR drop the the Committee. One
of the big changes compared to the previous OCR review
(12:41):
is two out of six in the Reserve Bank Committee
voted for a fifty drop, a fifty point drop rather
than twenty five. So following that, interest rates have dropped
a lot more.
Speaker 2 (12:52):
Yeah, so you reckon that the market is actually factoring
in the fact that there may be even more interest
rate drops and so they might hold off a little
bit longer.
Speaker 7 (13:02):
Yeah, there are a lot of people just kind of
getting getting approved and just holding off. I saw just
lately a lot more activity. I saw we had one
client going to auction and there were nine people registered
to bid at that auction, which is the first time
I've seen that in a long time. So I think
people are still being it's still a buyer's market, and
(13:25):
people are still being a bit kind of cautious just
around how much they spend. I don't think FOMO is
really really fully getted. True, it is a little bit now.
Speaker 2 (13:35):
So the house prices they're still slowly dropping, but we've
got buyers and they cashed up, they've got their mortgages,
they're ready to go. So how long before we see
house prices turning the corner and going the other way.
Speaker 7 (13:48):
I think we probably I think we have turned that corner,
or we must be very close if we haven't. It
depends on the region as well. I know some regions
haven't really really been coming down, still going head a
couple of big metros that are still struggling. In terms
of when we turn that corner, I think we'll probably
(14:11):
see Yeah, it'll be quite a hot summer ahead.
Speaker 2 (14:15):
Jerry Andrews from Key Mortgages. I thank you so much
for your time. It is now five twenty five News Talks.
Speaker 1 (14:19):
It be the early edition full show podcast on iHeartRadio
powered by News Talks.
Speaker 2 (14:25):
It be News Talks B five twenty six. Less took
the really important stuff. Let's took water. The government's new
plan for water services has called local Water Done Well.
It's all about keeping control on the hands of local
councils and communities rather than creating those big centralized bodies,
which was what three Waters did. Eventually, Labour's three Waters
idea caved and the policy got renamed ten Waters because
(14:48):
there'll be ten bodies. But even that wasn't popular, And
of course it was that travelsome politics around Malordi co
governance that freaked a lot of people out. So now
we've got national in and councilors have to submit their
water services delivery plans showing how they'll manage drinking water,
wastewater and storm water. There'll be oversight from regulators, but
the big focuses on local decision making and community accountability
(15:11):
and better outcomes. And that water service delivery plan has
to be delivered to the Secretary for Local Government tomorrow
the third of September. And these plans outline how each
council will deliver and fund water services. It looks to
me like it's going to be a bus And the
big sticking point is funding, which was actually at the
core of Three Waters. Three Waters was going to force
(15:33):
water services to be amalgamated the asseots used to borrow
against and the loans paid off by water rates, not rates,
to give them more money to fix the pipes. Local
Waters done well allows for that to happen too, but
the big difference was it has to be done voluntarily
by the councils, and it turns out they don't want
to do that. And I'll give you a concrete example.
Teams Corrimandal might be a water services situation. The place
(15:55):
is mountainous, the weather events extreme, there's hardly any rate payers,
and then the population explodes in summer. The Thames Coromand
of Council wanted to join forces with Todonga and Western
Bays to form a bigger regional body to fund the
water off their existing assets. But Teldonger doesn't want the
hassle of Thames Coromandel. Who would and so that deal
hasn't happened. And the estimation is that this is going
(16:18):
to put five to six hundred dollars onto the Thames
Corimandal rates. Now we all want better water, but we
also want lower rates. And we're going to find out
tomorrow what's going to happen with the water. But at
the moment to me, it looks like the policy should
be renamed local Water, done not very well and not funded.
And after all the talk about water reform, we're right
(16:39):
back at where we started from. And you and I
and all the rate payers are the ones who are
going to have to pay for it. Did be five
twenty nine. I've got Stuart Nash to chat about. Of course,
this new rule with the visas, the Golden visas, and
now I can buy a property worth five million dollars.
Three hundred and eight people have applied for the Golden visa.
(17:01):
Do you think these properties are going to being available
to them now is going to make a difference, is
going to cause a further rise and this We'll talk
to Sturt about this, and he's good because he's a
former immigration minister. He's doing immigration advisory right now and
he knows the politics of things and he's talking to
these people that have got the Golden visa. So we've
got that story. That's a big story. Just before six.
(17:22):
I'll run you through everything about that right after the News,
which is next on News Talks.
Speaker 8 (17:26):
Ab As of this World.
Speaker 1 (17:38):
Andrew dickens on earlier this show with one roof love
where you live used Talks it be.
Speaker 2 (17:47):
That's good morning and welcome to your Tuesday. I'm Andrew Dickinson,
perwine Bridge, who's getting some and having a sleep them g.
You're really not liking the PSA's reluctance to see a
rationalization of public bureaucracy, as suggested by the New Zealand Initiative.
(18:10):
Simon writes, Andrew, unneeded ministries must be like gliding on
a twenty twenties version. What do they do all day?
Simon another text to says ministries to check on other ministries.
It's just ridiculous, and Graham says, Andrew, it's about time
we kept up with the plan to make our public
service smaller and more efficient. Flurfit Simon seem to think
that we all want some woke reports to run our lives.
(18:32):
Get real people the whole problem, as it's costing way
too much. Thank you so much for your text, Graham.
Now we're talking about this new ability for active investor
plus visa holders to purchase properties with Stuart Natt a
bit later on. So foreign buyers are still banned from
purchasing most residential properties. The property you buy has to
(18:52):
be valued at five million dollars or more, and that
excludes over ninety nine percent of homes on the market.
I think last year's figure point five percent scent of
homes for over five million dollars. Now, the whole exemption
to allow them to buy those big homes is to
attract high net worth individuals who should then invest millions
into New Zealand's economy. Rural, farm and sensitive land excluded
(19:14):
from the exemption. Only one home per investor is allowed
under the new rule to stop speculation and flipping. There
have been three hundred and eight applications for the gold
and visa. That visa. If you get that visa, it
requires multimillion dollar investments in New Zealand businesses or funds,
so not just property. So they're bringing more than just
the five million bucks of the house. How will it work?
(19:35):
Will it work? With Stuart Nash just before six, it's
twenty two to six news talk z be in the country.
We go and first to Otago Kellum Proctor. Good morning,
morning Andrew. The Regional Council. They're assessing the effects of
earthquakes in the Kluther region.
Speaker 6 (19:51):
Yeah.
Speaker 9 (19:51):
This has been an independent assessment that's part of the
Regional Council's natural hazards work here. It looked at three
different earthquakes scenarios and the area, which includes bel Kluth
and Kaitungata, could be affected by liquefaction and a strong
to severe earthquake due to the soft sediments making up
the ground there. The more likely scenario, they would result
(20:11):
in light to moderates shaking with only minor impacts. The
Regional Council says the study has helped give them a
better understanding of the damage earthquakes could cause in the
area and the secondary hazards as well. That could be triggered,
such as flooding. How's your weather, shewers clear this afternoon
for us, a strong south easterly, the high only ten today.
Speaker 2 (20:31):
Grace here as we go, classe here were good morning
to you. Good morning. We've got people camping out in
a church car park.
Speaker 10 (20:37):
Why yeah, this has caused quite the stink here, Andrew.
We've got at least ten, possibly now up to twenty
residents living in a car park of Holy Trinity Church
at Avonside.
Speaker 2 (20:48):
It's a real set up.
Speaker 10 (20:49):
There are tense campus sheds, you name it.
Speaker 7 (20:51):
Now.
Speaker 10 (20:52):
Some neighbors had complained about this and leading to the
Christiach City Council issuing an abatement notice demanding the residents
stop using the car park within a matter of days. Now,
the short deadline on that notice and the fact that
the church was happy for the car park to be
used to this way fired up reaction. We had locals,
homeless support groups, city councilors all saying that it had
(21:12):
to stop. Council has now extended the abatement notice until
early October. This is to allow the residents to access
to more support and find suitable living arrangements in the
interim council has organized some rubbish collection from the site
and also nighttime security patrols in order to promote safety
and reassure the community.
Speaker 2 (21:31):
How's your weather a bit.
Speaker 10 (21:33):
Frosty to start, They're mainly fine until some scattered showers
a bit later. This afternoon. Northwesterlyes are high of fifteen
in Wellington.
Speaker 2 (21:40):
We have Max Toll Good morning, Max, Good morning. The
City to See Bridge is going to be demolished.
Speaker 11 (21:45):
Yeah.
Speaker 12 (21:46):
This is the prominent walkway that crosses over the keys
from Civic Square or Jervis Key to the waterfront. This
big twisty wooden art work with little nooks and crannies
and quirky timber benches. At the top. You've got large
concrete slab on the side. You can see from the harbor.
Quite an impressive large artwork. The Wellington Civic Trust has
been mounting a lake bid to try to save it.
(22:08):
No bueno. Unfortunately, the City Council can, as intended, go
ahead and knock it down rather than paying tens of
millions of dollars that is required to fix it to
make it structurally sound. It is slightly controversial this. You
would think a lot of Wellingtonians quite highly valued this
this thing. It's probably just become too expensive.
Speaker 11 (22:29):
In six.
Speaker 2 (22:29):
I love that bridge. It's a beautiful bridge.
Speaker 12 (22:33):
Yeah, now I fear we're in the minority.
Speaker 2 (22:35):
Here looks so solid. It does.
Speaker 12 (22:39):
Unfortunately, the bill has ranged anywhere from eighty to one
hundred and twenty million dollars just to make it, you know,
earthquake proof. So the council has just gone ahead and
written it off. Instead, they're going to get to a
new pedestrian crossing and then perhaps something more significant in
the long term. But yeah, we're in the minority.
Speaker 2 (22:56):
It's going how worldly boring? How's your wither exactly?
Speaker 12 (23:00):
I mainly find today some showers later on strong winds
fifteen the high Central and.
Speaker 2 (23:05):
To walk on we go. Neither written many Good morning
to you, Good morning to Marbicks's closing in Queen's Arcade.
Just one of the great retailers. Yes, music music retails.
Speaker 8 (23:14):
USIC retailers. Yes, you'll be feeling quite emotional about that.
Oh very you'll remember, you'll have fond memories.
Speaker 2 (23:19):
Well look, I was actually in my garage in the
weekend looking at my CD collection. Wow, which was quite
comprehensive and a lot of them had the Marbick sticker
on it, and a lot of them said thirty bucks,
you know, because that's how much he used to pay
for a CD there. And I figured out that I
must have given mar Bicks thousands of dollars of my money.
Speaker 8 (23:35):
Well, good on you. You were representing and contributing on
my behalf, because I think I've only even been in
there once.
Speaker 2 (23:40):
Now, well that's you know, it's because they changed, Yes,
the iPod and streaming means CDs and records go.
Speaker 8 (23:48):
Yep, that's right now. It is moving to trade online.
Roger Marbick, he's the founding family member. He says, Look
this online bezore, it's going to represent a continuation of
the legacy. And as you just say, that retail landscape,
that big change. But look going forward, this reshaped community engagement.
They're planning on having, you know, launching up pop up
(24:08):
events at festivals and music gatherings around the country, just
to keep the spirit of mar books alive.
Speaker 2 (24:13):
Hous Hawkins well partly.
Speaker 8 (24:15):
Cloudy Odshower seventeen is high here in Auckland.
Speaker 12 (24:18):
Wever.
Speaker 2 (24:18):
I thank you. At his seventeen minutes to six text
through from John he says Andrew. My property is worth
about one point seven million dollars, but I will happily
sell it for five million. Now that's actually almost a
very good point because one if you've got a property
that's worth like four point three four point four to
four point five and suddenly you've got a whole heap
of investors coming in who can buy a house for
(24:38):
five Will it mean price escalation for the top end
but not the not over five but the over fours.
Will that change things then? I don't know. Stuart nashviill
have his thoughts on this. Just before six o'clock. If
this is news, talk to zm B to Australia, we.
Speaker 1 (24:53):
Go next international correspondence with ends and eye insurance feace
of mind for New Zealand business.
Speaker 2 (25:00):
It's fourteen to six dot on tomorrow from Australia. Good morning,
Good morning, so Albanezi. He has been speaking on the
Nauru deportation plan.
Speaker 13 (25:10):
Yes, the PM has spoken and in his words he
says there's nothing secret about a four hundred million dollar
deal with Nuru to offload hundreds of non citizens. Now,
the government announced this deal on Friday night and that
is a time we know is notoriously used to bury announcements,
but people noticed and they wanted to know more details.
(25:32):
So the PM has now spoken out and he says
that these arrangements are to deport about two hundred and
eighty members of a cohort, as he put it, non
citizens living in Australia whose visas were canceled on character grounds.
And you know, he's saying that you know this decision,
(25:52):
this deal is hardly secret. He says that these are
the people that they don't have a legitimate reason to
stay in Australia. While there's been some swift and strong
reaction from refugee advocates, human rights lawyers, the Greens, they're
all furious and they've described as steel as discriminatory, disgraceful
and dangerous.
Speaker 2 (26:13):
All right, Donna, and I thank you, And yes, there's
loads of marches at the moment happening regarding immigration's big
issue in Australia. Now China's big military parade tomorrow. Bob krr,
the former New South Wales premiert, former Australian Foreign Affairs minister,
is going and he's written in the Sydney Morning Herald
this morning as to why, and he says the Pacific
War started with the rape of Nang King back in
nineteen thirty seven. Did you know that twenty million Chinese
(26:35):
people died resisting the Japanese invasion, twenty million And it
was because of that resistance that one million Japanese troops
were committed to the Chinese battles. And that meant that
japan did not have the capacity to invade Australia, which
you know, which they were wanting to do, but they
couldn't do that. And if they had invaded Australia, that
could have changed absolutely everything in our neck of the woods.
(26:57):
And Bobka says that is worth commemorating the sacrifice of
the Chinese which saved us. And I think he's white.
It is twelve to six News Talk Zibby right. Well,
the government's changed his mind on the foreign buyer's ban.
Golden visa holders can now snap up homes worth five
million dollars or more as long as they invest at
least five million dollars into the country. The wider ban
on residential property still stands. Stuart Nash is a former
(27:20):
Labor Cabinet minister. He's currently a co founder of Nash
Kelly Global, the relocation consultancy that advises wealthy individuals, the
one we're looking for, particularly from the US on immigration
to New Zealand, and he joins us. Now, hello's Jurdon.
Speaker 11 (27:34):
Good morning.
Speaker 2 (27:34):
How are you very good on a political point? Bent?
First of all, how on earth did the government get
Winston on board?
Speaker 11 (27:41):
I love Winston's all about economic development and growth. He
knows that. You know, when these investor migrants come to
New zeald and they invest in the way they are,
that creates jobs and wealth and it's good for the
jild economy. I mean at the moment, we've got about
one point eight billion dollars it's been promised. Now remember
this is going into active investment into our economy. There's
nothing better about that.
Speaker 2 (28:00):
Yeah, there are currently three hundred and eight applications for
the Golden visa and they're bringing a lot of money.
You just told us that the numbers are they ready
to snap up a property as well.
Speaker 11 (28:11):
They take a little bit of time because they've got
to you know, they've got to figure out how they're
going to invest. They've got to get their visas. But
you know, this is money that's invested actively into economy.
But the thing for me is it's not just about
the money. These people bring their experiences, their contexts, their networks,
their competencies. So by and large, what happens is when
they bring their money in, they also bringing a whole
(28:34):
lot of different skills and competencies into our communities. That
just creates value. It's fantastic.
Speaker 2 (28:39):
Do you think it's going to drive house prices up?
Because I saw a guy on the telly last night
he's saying this is going to pump primes things give
people more confidence that it should affect the entire market.
Do you think it will drive the prices up or
only affect that top point five percent of properties?
Speaker 11 (28:54):
We look, what I say is that these people don't
compete with the first time buyers. They compete with a
lot of when theo's keep in mind, these people can't
buy a house under five million dollars, and it's about
they reckon. There's about ten million, ten thousand houses or
seven thousand houses that a who lived in immediately worth
over five million dollars. So for the vast majority of people,
(29:14):
that won't have any difference whatsoever. So no, in fact,
quite the opposite. I think this would be great for
builders because you know these guys will come in, they
will build expensive houses because this is what they do.
But you know, I live in Napier. There are very
very few houses and they be at any worth over
five million dollars. So I think they're good hard work
(29:36):
and keys aren't going to see a change add all
to their house prices.
Speaker 2 (29:39):
Okay, well, you've been talking to people who have got
the Golden Visa. Are they keen to build? Would that
actually be even more attractive to them because they could
then make the house that they really want.
Speaker 11 (29:49):
Yeah, accommodation of both, so you will see some buy Look,
it may it may affect house prices at the hanging
down in Queenstown, but the vast majority of people won't
see any difference. What's whoever, But I was talking to
a chap who has got a development. He wants This
is a this is an American billionaire. He wants to
build an incredibly big lodge. And there's about thirty sections
(30:11):
that will that will be worth over five million dollars.
There that is a significant amount of development. These are
houses that wouldn't be built otherwise. Of course, you know
the sections are open for kiwis to buy. But we
are talking high end and we're talking people who come
over here and when they have a property here, they
tend to stay for longer, they spend more. There is
(30:32):
no downside to this at all. So you know, when
I hear people say this is going to this is
going to impact the property prices, I just I just
think not at all, not at all. At the very
top end maybe, but good hard work and kiwis, who
are you know who are looking struggling or working hard
to get there. So the housing that won't make any difference.
Speaker 2 (30:52):
No matter what the Prime Minister says, this is still
a compromise to fit in Winston Peters. So should they
look to open it up further.
Speaker 11 (31:00):
No, I think we've got I think we've struck a
very nice balance. But I don't think this is a
compromise now. The reason I say that is New Zealand
first has always been about economic development and growth and
making sure that good hard work and keepies have the
opportunity to work. We're talking so far one point eight
billion dollars it's been promised to come into our economy.
(31:21):
I think this is going to get a little bit
of a boost and my business. I've got about four
clients in the last couple of weeks. I've said, no,
we're not interested in New Zealand because we can't buy
a property. Now they can. You're going to see more
money coming into the economy and I just want to
reiterate this is money that has to be invested actively.
So we're talking about into New Zealand businesses, into areas
(31:42):
that create jobs and economic wealth for our economy and
for all key weeks.
Speaker 2 (31:45):
Now, Stuart, you've mentioned New Zealand first and awful lot
in this interview and does this mean that you're going
to stand for them.
Speaker 11 (31:52):
No, No, not at all. All I'm saying is that
Winston and Shane represent the politics of pragmatism and I
think this is about economic development, growth and job and
Winston and Shane understand that. It's the reason why we're
talking about a good news story at the moment.
Speaker 2 (32:07):
Good stuff. Thank you so much. That is Stuart Nash.
This is news Talks, he'd b it is seven minutes
to six.
Speaker 1 (32:13):
The news you need this morning and the in depth
analysis early edition with Andrew Dickots and one Roote Love
where you Live. News talks that'd be.
Speaker 2 (32:22):
Yeah, big day tomorrow. The councilors have to submit their
water services delivery plans and uh, if pictator decided what
and what are they going to do? And are they
going to fix the leaks? Sue's very worried about the
whole thing. She's in the wilted Upper. She says their
local councils have been rushing it through for the third
September deadline, and she's worried the councils are an election
mode and she reckons these things should be left until
after the election. But yeah, big story tomorrow. What's going
(32:44):
to happen with the water? My casking come morning to you,
Good morning.
Speaker 14 (32:49):
So the bureaucraw you had you hadn't prepared a proving,
approbing open question.
Speaker 2 (32:56):
For no, no, no, But well I'm going to talk
about the bureaucrats because I talked it with Firs Simons
this morning and the New Zealander Initiative report, yes, and
then and then she was just so defensive about the
whole thing. And then of course the audience is so
angry about the whole thing, and she was saying, people
don't people don't want public servants cut. And see what
I'm afraid they do.
Speaker 14 (33:11):
The funny thing is they do and Brian Roch, who's
the Public Service Commissioners, actually sort of doing that job.
It's funny. I mentioned to the Prime Minister yesterday they
ended up cutting two thousand jobs and it was a
huge They should have done ten thousand because the approbrium
and anger at the time didn't matter what the number was,
because everyone who was furious was furious. So they missed
(33:31):
their opportunity.
Speaker 2 (33:32):
So now to see five thousand buerios, it's a two thousand.
It's a city.
Speaker 14 (33:37):
And so anyway, he might be doing the job. But
we'll talk to the New Zealand Initiative. Will also talk
to Winston Peters, who seemed sort of edgy yesterday, didn't he.
Speaker 2 (33:44):
Said, don't talk about this, don't talk about the house
raising to drag, kicking.
Speaker 14 (33:47):
And screaming, had that vibe about it. So anyway, he's
with us, Prime Minister's with us.
Speaker 9 (33:51):
They're all with us.
Speaker 2 (33:52):
They always are. And I thank you Nathan Kensy for
producing the show. And I'm Andrew Dickinson. I'll see you tomorrow.
Have yourself a wonderful Tuesday.
Speaker 1 (34:08):
For more from Early Edition with Ryan Bridge, listen live
to news talks. It'd be from five am weekdays, or
follow the podcast on iHeartRadio
The issues, the interviews and the insight. Andrew Dickens on
an earlier is show with One Root Love where You
Live News Talks.
Speaker 2 (00:09):
It'd be well, good morning, welcome to Tuesday. Thank you
for joining us. I'm Andrew Dickinson for Ryan Bridge, who's
on holiday on the program today. Another report criticizes the
number of ministries in New Zealand. So how many public
servants or how are public servants feeling about the whole
idea of cutting down the number of ministries? Will have
the PSA on in about five minutes time. Interest rates
(00:30):
are falling and mortgage lending is up. So why is
our housing markets still in limbo? That story in ten
and tomorrow is crunch day for water. I'll fill you in.
Are things getting better or are we stuck in the
same funk? And the big story the government has loosened
the foreign buyer band, meeting that foreigners with the Golden
Visa will now be able to buy a home with
more than five million dollars. But will this attract the investors?
(00:52):
Stuart Nash will be joining me on how to sell
the idea to foreigners just before six. We'll have correspondence
from all around New Zealand. Don Demaio's US from Australia
and you can have your say on the text. The
number is ninety two ninety two. A small charge does apply.
It's seven minutes after five.
Speaker 3 (01:09):
The agenda.
Speaker 2 (01:10):
It's Tuesday, the second of September. More than eight hundred
people have been killed and thousands others injured after a
six magnitude quake hit eastern Afghanistan. Offici'll say most deaths
are in the Kunar province and are warning the death
toll could climb as entire villages lie in ruins.
Speaker 4 (01:28):
The area as described is really really difficult. The terrain
is mountainous. This is a place where homes are almost
built on top of each other in a sort of telespace.
So when an earthquake, if this magnitude happens, these homes
are tumbling on top of each other. And because it
was so late a pint people wear up their homes.
Speaker 2 (01:49):
Now to China we go and put in a mahdi
had their meeting at the summit in Beijing. By the way,
Kim Jong un is on his way in an armored
train for Beijing's big military parade tomorrow.
Speaker 5 (02:00):
With this one army between China, India and Russia. Mister
Mardy is showing that he cannot be pushed into a
corner by the US and is answering back. And that's
what his supporters are saying.
Speaker 2 (02:13):
And the summer's Vladimir Putin claimed he's reached understandings with
Donald Trump on ending the war in Ukraine after talk
to Alesca last month.
Speaker 3 (02:21):
He is saying that he welcomes China and India in
their efforts to bring it to an end, but underlining
again that as far as he's concerned, that has to
be on his term. So totally maximalist position from Russia.
Speaker 2 (02:33):
And I'll have more on this big week in China
in Beijing in just a few moments time. And finally,
it's been forty years since the discovery of the Titanic
at the bottom of the Ocean where so the Titanic,
(02:59):
the un thinkable ship, encountered an iceberg on the fourteenth
of April nineteen twelve on its first ever voyage. It
was found in the Atlantic seventy three years later, on
this day in nineteen eighty five, I went in my room.
You knew something had happened, and one man said, look
at that that's an iceberg and it's a waba.
Speaker 1 (03:23):
The first word on the News of the Day early
edition with Andrew Dickens and one Root Love Where you
Live News Talks, I'd be.
Speaker 2 (03:31):
It's ten out to five. I don't know about you,
but I am just a little bit unsettled by this
Shanghai Cooperation Organization's summit that's been happening over the weekend
and into this week. President z of China has been
welcoming leaders from around Asia in sixteen leaders of countries
they call dialogue partners. And the point of all of this,
of course is to talk trade and to talk partnerships,
(03:52):
but it's also to challenge the US led summits like
NATO or G seven talks, to prove that nations excluded
from those organized stations have something to say about the
world as well. The role call of those attending the
summit is a real rogues gallery. We've got putin from
Russia there, Madi from India, one from Turkey, and of
(04:12):
course the Chinese representatives of an enormous block of the
world's population, and all with a bit of a beef
with America in the west. Right now, now, North Korea
is not there for the weekend, but Kim Jong un
is attending the separate military parade in Tianaman Square in
Beijing tomorrow. That's being held to commemorate the eightieth anniversary
of the end of World War II. So that parade
(04:32):
is going to see Putin and Ji and Kim Jong
un all sitting there watching China's tanks and missiles and
soldiers marching up and down Tianaman Square. That's not at
all scary, is it. And you know this is going
to drive Donald Trump absolutely crazy with jealousy because huge
crowds will be there. It's going to be Kim Jong
UN's first meeting with jig in over six years, and
(04:54):
his first major international appearance with other world leaders like
Putin since taking power back in twenty eleven. He is
in from the cold, and China and India, well, they
have been helping Russia fund the war in Ukraine. North
Korea have been providing soldiers in the conflict. They're all
having a big day out in Beijing. You know, it's
kind of like a summit of the bad guys, and
(05:15):
they're saying to the West, you no longer call the shots,
And you can't help think that Donald Trump's gung host
style of diplomacy that sees him thinking he can cut quick,
easy transactional deals and stop wars cold seems to be
having the opposite effect. Instead of stopping the bad guys,
seems to be driving them closer together. Now, by the way,
(05:36):
Helen Clark and John Key will be our representatives at
this parade. They were invited. They're paying their own way.
They think they were invited because they were involved back
in the day in the New Zealand China Free Trade
Agreement and to represent New Zealand after our involvement in
the Pacific War. And Helen Clark thinks it's important to
be an heir at things like this, and I agree,
And I'll talk more about why this big parade is
(05:57):
actually a real big deal for the Pacific a bit
later on in the program. It's twelve minutes after five.
So the New Zealand Initiative have been looking at just
how many public servants we have, how many ministries we have,
how bloated the whole bureaucracy is it is, and there
is a war against public servants, and that's true, and
we're trying to cut things down and rationalize things so
(06:17):
how is the PSA who represents these people feeling about this.
We're talking to them.
Speaker 1 (06:22):
Next on your radio and online on iHeartRadio early edition
with Andrew Dickens and one roof Love where you Live.
Speaker 2 (06:32):
Used talk said being it is I point fifteen. How
many ministries is too many? Will? A report out today
says we have way too many? The New Zealand Initiative
reckons we could easily cut over twenty departments and actually
make our bureaucracy run smoother. So Flur fitz Simons is
the PSA National Secretary and she joins me. Now, Helloflur,
(06:53):
there we go, Flirt. Sorry the buttons wasn't working very well.
Hello Flur, good morning. So we got eighty one minister
report foit eight ministers, forty three departments, three times as
many portfolios and nearly twice as many departments as comparable
countries like Ireland. Surely this can be rationalized.
Speaker 6 (07:12):
Well, we don't object to the discussion about this, but
I think you have to understand that it's taking place
in a political context driven by the act Party. He
David Seymour was very supportive of an earlier version of
this report, and he's been consistent in saying we need
to dismiss thousands more public servants and we need to
move towards models of privatization. Now, I don't think that's
(07:35):
going to find favor with New Zealanders, and I think
it would be very dangerous for the delivery of public services.
So there's a lot of red flags of this report.
Speaker 2 (07:43):
Do you really think it's just ACT Party and the
ACT Party supporters that are a bit worried about the
bloated size of our public service? Don't you think it's
much more widespread?
Speaker 6 (07:52):
Well, when you said bloater, let's look at some of
the proposals in this report. They, for example, suggest merging
the Cancer Control Agency into the Ministry of Health. In
New Zealand, we've had cancer advocates for years calling for
an agency to hold our health system to accounts. They
finally got it in the Cancer Control Agency. This report
(08:14):
doesn't look at the value of that agency, the history
of its creation, or the importance of its work. It
simply looks at numbers. Now, when you do that, when
it comes to something like public policy, it's actually very dangerous.
But no, I don't think it's as simple as the numbers.
Speaker 2 (08:28):
Where is the go to for advocates when they say
we've got to do something about cancer, to or just
automatically say well, let's have another ministry, let's have another department,
let's have another bureaucracy.
Speaker 6 (08:38):
Well, I don't want to downplay the work that those
patient advocates did in the frustration that they felt with
our health system when it came to getting decent cancer treatment.
But it's not just those patient advocates. If you look
at what happens in New Zealand where we have a
disaster or a significant event that we need to investigate,
we set up a Royal commission Hype River abuse in
(09:01):
state care, the christ Church terrorist attack. Now those commissions
look carefully at what went wrong that lead to these
disasters and how we could do better. If you look
at the recommendations of those commissions, none of them say
less public services or less investment in public services. They
all say we need to do more, we need to
look more carefully. Here's how we need to set up
(09:23):
our public policy administration in New Zealand.
Speaker 2 (09:25):
Let's just take the money out of it, let's take
the advocacy out of it. But doesn't the amount of
bureaucrats we currently have just lead to confusion and are
slowing down of our public service. For instance, MB currently
answers to twenty different ministers. That's confusing.
Speaker 6 (09:41):
Well, actually that's the kind of consolidation that this report's
asking for more of. So if that's confusing, then the
reporter is itself confusing, and I think it is. It
actually just takes a numerica and that analysis and overlays
it onto public agencies. There's no proper assessment of the
importance of, for example, the work of the Ministry for
(10:01):
Woman or the work of the Ministry for Pacific people,
their history, the role that they play, and I think
it's just through some plastic when you look at it
that way.
Speaker 2 (10:09):
All right, flirt, and I thank you so much for
your time today. Flur Fit Simons is from the PSA.
She is the National Secretary of the PSA, and of course,
as we all know, Turkeys don't vote for Christmas, so
she's not going to look very fondly on any rationalization
of any job at all. Text through from Howard fitz
Simons is out of touch. Countries of similar size have
way less bureaucrats. Where a city the size of a
(10:32):
city with sixty five thousand bureaucrats, and that is just
ridiculous thinking for your text, Howard ninety two to ninety
two is the numbered the phone? A bit of bad
news around at the moment for a couple of former
American high fliers. You may know the names. Robert Muehler,
the former head of the FBI, has Parkinson's. He's using
that condition to get out of testifying about the FBI's
investigation into Epstein. And Rudy Giuliani, the man with the
(10:54):
melting hair, the former New York City mayor and lawyer
for President Trump. Rudy suffered a fractured vie in a
car crash in New Hampshire. So the interest rates are
going down, but the housing market is still stuck. What's
that about. We'll talk about this with a mortgage broken
next here on news Talk ZBB. It's five twenty.
Speaker 1 (11:12):
Views and views you trust to start your day. It's
earlier this Ship with Andrew Dickins and one roof Love
Where you live newstalks'd B.
Speaker 2 (11:21):
So let's talk about property. Interest rates are softening and
the proper property market though, is still in limbosh. Excuse me,
So we've got centric data which was out today. It
shows new mortgage lending is up twenty five percent year
on year, listing's up nine percent, and yet prices remain flat.
So is now really the time to buy? I'm joined
by Jeremy andrews Now. Jeremy's a mortgage broker at Key Mortgages,
(11:44):
and I thank you for joining us. Good morning to you, Jeremy,
Good morning Andrew. You're noticing the uptick and new mortgages.
Speaker 7 (11:52):
It's kind of up and down a bit at the moment. Suddenly,
the last couple of months were very big months turn
around times with banks were really blowing out. But it
has dropped off just a little bit now, so it's
kind of it comes in waves.
Speaker 2 (12:08):
With the mortgage lending up twenty five percent of people
are borrowing and yet not buying. Then what are they
spending the borrowed money on.
Speaker 7 (12:19):
It's probably just around when they're buying. I think we've
certainly got We've got a lot of people at the
moment just getting pre approved. Interest rates have dropped a lot,
especially with their latest OCR drop the the Committee. One
of the big changes compared to the previous OCR review
(12:41):
is two out of six in the Reserve Bank Committee
voted for a fifty drop, a fifty point drop rather
than twenty five. So following that, interest rates have dropped
a lot more.
Speaker 2 (12:52):
Yeah, so you reckon that the market is actually factoring
in the fact that there may be even more interest
rate drops and so they might hold off a little
bit longer.
Speaker 7 (13:02):
Yeah, there are a lot of people just kind of
getting getting approved and just holding off. I saw just
lately a lot more activity. I saw we had one
client going to auction and there were nine people registered
to bid at that auction, which is the first time
I've seen that in a long time. So I think
people are still being it's still a buyer's market, and
(13:25):
people are still being a bit kind of cautious just
around how much they spend. I don't think FOMO is
really really fully getted. True, it is a little bit now.
Speaker 2 (13:35):
So the house prices they're still slowly dropping, but we've
got buyers and they cashed up, they've got their mortgages,
they're ready to go. So how long before we see
house prices turning the corner and going the other way.
Speaker 7 (13:48):
I think we probably I think we have turned that corner,
or we must be very close if we haven't. It
depends on the region as well. I know some regions
haven't really really been coming down, still going head a
couple of big metros that are still struggling. In terms
of when we turn that corner, I think we'll probably
(14:11):
see Yeah, it'll be quite a hot summer ahead.
Speaker 2 (14:15):
Jerry Andrews from Key Mortgages. I thank you so much
for your time. It is now five twenty five News Talks.
Speaker 1 (14:19):
It be the early edition full show podcast on iHeartRadio
powered by News Talks.
Speaker 2 (14:25):
It be News Talks B five twenty six. Less took
the really important stuff. Let's took water. The government's new
plan for water services has called local Water Done Well.
It's all about keeping control on the hands of local
councils and communities rather than creating those big centralized bodies,
which was what three Waters did. Eventually, Labour's three Waters
idea caved and the policy got renamed ten Waters because
(14:48):
there'll be ten bodies. But even that wasn't popular, And
of course it was that travelsome politics around Malordi co
governance that freaked a lot of people out. So now
we've got national in and councilors have to submit their
water services delivery plans showing how they'll manage drinking water,
wastewater and storm water. There'll be oversight from regulators, but
the big focuses on local decision making and community accountability
(15:11):
and better outcomes. And that water service delivery plan has
to be delivered to the Secretary for Local Government tomorrow
the third of September. And these plans outline how each
council will deliver and fund water services. It looks to
me like it's going to be a bus And the
big sticking point is funding, which was actually at the
core of Three Waters. Three Waters was going to force
(15:33):
water services to be amalgamated the asseots used to borrow
against and the loans paid off by water rates, not rates,
to give them more money to fix the pipes. Local
Waters done well allows for that to happen too, but
the big difference was it has to be done voluntarily
by the councils, and it turns out they don't want
to do that. And I'll give you a concrete example.
Teams Corrimandal might be a water services situation. The place
(15:55):
is mountainous, the weather events extreme, there's hardly any rate payers,
and then the population explodes in summer. The Thames Coromand
of Council wanted to join forces with Todonga and Western
Bays to form a bigger regional body to fund the
water off their existing assets. But Teldonger doesn't want the
hassle of Thames Coromandel. Who would and so that deal
hasn't happened. And the estimation is that this is going
(16:18):
to put five to six hundred dollars onto the Thames
Corimandal rates. Now we all want better water, but we
also want lower rates. And we're going to find out
tomorrow what's going to happen with the water. But at
the moment to me, it looks like the policy should
be renamed local Water, done not very well and not funded.
And after all the talk about water reform, we're right
(16:39):
back at where we started from. And you and I
and all the rate payers are the ones who are
going to have to pay for it. Did be five
twenty nine. I've got Stuart Nash to chat about. Of course,
this new rule with the visas, the Golden visas, and
now I can buy a property worth five million dollars.
Three hundred and eight people have applied for the Golden visa.
(17:01):
Do you think these properties are going to being available
to them now is going to make a difference, is
going to cause a further rise and this We'll talk
to Sturt about this, and he's good because he's a
former immigration minister. He's doing immigration advisory right now and
he knows the politics of things and he's talking to
these people that have got the Golden visa. So we've
got that story. That's a big story. Just before six.
(17:22):
I'll run you through everything about that right after the News,
which is next on News Talks.
Speaker 8 (17:26):
Ab As of this World.
Speaker 1 (17:38):
Andrew dickens on earlier this show with one roof love
where you live used Talks it be.
Speaker 2 (17:47):
That's good morning and welcome to your Tuesday. I'm Andrew Dickinson,
perwine Bridge, who's getting some and having a sleep them g.
You're really not liking the PSA's reluctance to see a
rationalization of public bureaucracy, as suggested by the New Zealand Initiative.
(18:10):
Simon writes, Andrew, unneeded ministries must be like gliding on
a twenty twenties version. What do they do all day?
Simon another text to says ministries to check on other ministries.
It's just ridiculous, and Graham says, Andrew, it's about time
we kept up with the plan to make our public
service smaller and more efficient. Flurfit Simon seem to think
that we all want some woke reports to run our lives.
(18:32):
Get real people the whole problem, as it's costing way
too much. Thank you so much for your text, Graham.
Now we're talking about this new ability for active investor
plus visa holders to purchase properties with Stuart Natt a
bit later on. So foreign buyers are still banned from
purchasing most residential properties. The property you buy has to
(18:52):
be valued at five million dollars or more, and that
excludes over ninety nine percent of homes on the market.
I think last year's figure point five percent scent of
homes for over five million dollars. Now, the whole exemption
to allow them to buy those big homes is to
attract high net worth individuals who should then invest millions
into New Zealand's economy. Rural, farm and sensitive land excluded
(19:14):
from the exemption. Only one home per investor is allowed
under the new rule to stop speculation and flipping. There
have been three hundred and eight applications for the gold
and visa. That visa. If you get that visa, it
requires multimillion dollar investments in New Zealand businesses or funds,
so not just property. So they're bringing more than just
the five million bucks of the house. How will it work?
(19:35):
Will it work? With Stuart Nash just before six, it's
twenty two to six news talk z be in the country.
We go and first to Otago Kellum Proctor. Good morning,
morning Andrew. The Regional Council. They're assessing the effects of
earthquakes in the Kluther region.
Speaker 6 (19:51):
Yeah.
Speaker 9 (19:51):
This has been an independent assessment that's part of the
Regional Council's natural hazards work here. It looked at three
different earthquakes scenarios and the area, which includes bel Kluth
and Kaitungata, could be affected by liquefaction and a strong
to severe earthquake due to the soft sediments making up
the ground there. The more likely scenario, they would result
(20:11):
in light to moderates shaking with only minor impacts. The
Regional Council says the study has helped give them a
better understanding of the damage earthquakes could cause in the
area and the secondary hazards as well. That could be triggered,
such as flooding. How's your weather, shewers clear this afternoon
for us, a strong south easterly, the high only ten today.
Speaker 2 (20:31):
Grace here as we go, classe here were good morning
to you. Good morning. We've got people camping out in
a church car park.
Speaker 10 (20:37):
Why yeah, this has caused quite the stink here, Andrew.
We've got at least ten, possibly now up to twenty
residents living in a car park of Holy Trinity Church
at Avonside.
Speaker 2 (20:48):
It's a real set up.
Speaker 10 (20:49):
There are tense campus sheds, you name it.
Speaker 7 (20:51):
Now.
Speaker 10 (20:52):
Some neighbors had complained about this and leading to the
Christiach City Council issuing an abatement notice demanding the residents
stop using the car park within a matter of days. Now,
the short deadline on that notice and the fact that
the church was happy for the car park to be
used to this way fired up reaction. We had locals,
homeless support groups, city councilors all saying that it had
(21:12):
to stop. Council has now extended the abatement notice until
early October. This is to allow the residents to access
to more support and find suitable living arrangements in the
interim council has organized some rubbish collection from the site
and also nighttime security patrols in order to promote safety
and reassure the community.
Speaker 2 (21:31):
How's your weather a bit.
Speaker 10 (21:33):
Frosty to start, They're mainly fine until some scattered showers
a bit later. This afternoon. Northwesterlyes are high of fifteen
in Wellington.
Speaker 2 (21:40):
We have Max Toll Good morning, Max, Good morning. The
City to See Bridge is going to be demolished.
Speaker 11 (21:45):
Yeah.
Speaker 12 (21:46):
This is the prominent walkway that crosses over the keys
from Civic Square or Jervis Key to the waterfront. This
big twisty wooden art work with little nooks and crannies
and quirky timber benches. At the top. You've got large
concrete slab on the side. You can see from the harbor.
Quite an impressive large artwork. The Wellington Civic Trust has
been mounting a lake bid to try to save it.
(22:08):
No bueno. Unfortunately, the City Council can, as intended, go
ahead and knock it down rather than paying tens of
millions of dollars that is required to fix it to
make it structurally sound. It is slightly controversial this. You
would think a lot of Wellingtonians quite highly valued this
this thing. It's probably just become too expensive.
Speaker 11 (22:29):
In six.
Speaker 2 (22:29):
I love that bridge. It's a beautiful bridge.
Speaker 12 (22:33):
Yeah, now I fear we're in the minority.
Speaker 2 (22:35):
Here looks so solid. It does.
Speaker 12 (22:39):
Unfortunately, the bill has ranged anywhere from eighty to one
hundred and twenty million dollars just to make it, you know,
earthquake proof. So the council has just gone ahead and
written it off. Instead, they're going to get to a
new pedestrian crossing and then perhaps something more significant in
the long term. But yeah, we're in the minority.
Speaker 2 (22:56):
It's going how worldly boring? How's your wither exactly?
Speaker 12 (23:00):
I mainly find today some showers later on strong winds
fifteen the high Central and.
Speaker 2 (23:05):
To walk on we go. Neither written many Good morning
to you, Good morning to Marbicks's closing in Queen's Arcade.
Just one of the great retailers. Yes, music music retails.
Speaker 8 (23:14):
USIC retailers. Yes, you'll be feeling quite emotional about that.
Oh very you'll remember, you'll have fond memories.
Speaker 2 (23:19):
Well look, I was actually in my garage in the
weekend looking at my CD collection. Wow, which was quite
comprehensive and a lot of them had the Marbick sticker
on it, and a lot of them said thirty bucks,
you know, because that's how much he used to pay
for a CD there. And I figured out that I
must have given mar Bicks thousands of dollars of my money.
Speaker 8 (23:35):
Well, good on you. You were representing and contributing on
my behalf, because I think I've only even been in
there once.
Speaker 2 (23:40):
Now, well that's you know, it's because they changed, Yes,
the iPod and streaming means CDs and records go.
Speaker 8 (23:48):
Yep, that's right now. It is moving to trade online.
Roger Marbick, he's the founding family member. He says, Look
this online bezore, it's going to represent a continuation of
the legacy. And as you just say, that retail landscape,
that big change. But look going forward, this reshaped community engagement.
They're planning on having, you know, launching up pop up
(24:08):
events at festivals and music gatherings around the country, just
to keep the spirit of mar books alive.
Speaker 2 (24:13):
Hous Hawkins well partly.
Speaker 8 (24:15):
Cloudy Odshower seventeen is high here in Auckland.
Speaker 12 (24:18):
Wever.
Speaker 2 (24:18):
I thank you. At his seventeen minutes to six text
through from John he says Andrew. My property is worth
about one point seven million dollars, but I will happily
sell it for five million. Now that's actually almost a
very good point because one if you've got a property
that's worth like four point three four point four to
four point five and suddenly you've got a whole heap
of investors coming in who can buy a house for
(24:38):
five Will it mean price escalation for the top end
but not the not over five but the over fours.
Will that change things then? I don't know. Stuart nashviill
have his thoughts on this. Just before six o'clock. If
this is news, talk to zm B to Australia, we.
Speaker 1 (24:53):
Go next international correspondence with ends and eye insurance feace
of mind for New Zealand business.
Speaker 2 (25:00):
It's fourteen to six dot on tomorrow from Australia. Good morning,
Good morning, so Albanezi. He has been speaking on the
Nauru deportation plan.
Speaker 13 (25:10):
Yes, the PM has spoken and in his words he
says there's nothing secret about a four hundred million dollar
deal with Nuru to offload hundreds of non citizens. Now,
the government announced this deal on Friday night and that
is a time we know is notoriously used to bury announcements,
but people noticed and they wanted to know more details.
(25:32):
So the PM has now spoken out and he says
that these arrangements are to deport about two hundred and
eighty members of a cohort, as he put it, non
citizens living in Australia whose visas were canceled on character grounds.
And you know, he's saying that you know this decision,
(25:52):
this deal is hardly secret. He says that these are
the people that they don't have a legitimate reason to
stay in Australia. While there's been some swift and strong
reaction from refugee advocates, human rights lawyers, the Greens, they're
all furious and they've described as steel as discriminatory, disgraceful
and dangerous.
Speaker 2 (26:13):
All right, Donna, and I thank you, And yes, there's
loads of marches at the moment happening regarding immigration's big
issue in Australia. Now China's big military parade tomorrow. Bob krr,
the former New South Wales premiert, former Australian Foreign Affairs minister,
is going and he's written in the Sydney Morning Herald
this morning as to why, and he says the Pacific
War started with the rape of Nang King back in
nineteen thirty seven. Did you know that twenty million Chinese
(26:35):
people died resisting the Japanese invasion, twenty million And it
was because of that resistance that one million Japanese troops
were committed to the Chinese battles. And that meant that
japan did not have the capacity to invade Australia, which
you know, which they were wanting to do, but they
couldn't do that. And if they had invaded Australia, that
could have changed absolutely everything in our neck of the woods.
(26:57):
And Bobka says that is worth commemorating the sacrifice of
the Chinese which saved us. And I think he's white.
It is twelve to six News Talk Zibby right. Well,
the government's changed his mind on the foreign buyer's ban.
Golden visa holders can now snap up homes worth five
million dollars or more as long as they invest at
least five million dollars into the country. The wider ban
on residential property still stands. Stuart Nash is a former
(27:20):
Labor Cabinet minister. He's currently a co founder of Nash
Kelly Global, the relocation consultancy that advises wealthy individuals, the
one we're looking for, particularly from the US on immigration
to New Zealand, and he joins us. Now, hello's Jurdon.
Speaker 11 (27:34):
Good morning.
Speaker 2 (27:34):
How are you very good on a political point? Bent?
First of all, how on earth did the government get
Winston on board?
Speaker 11 (27:41):
I love Winston's all about economic development and growth. He
knows that. You know, when these investor migrants come to
New zeald and they invest in the way they are,
that creates jobs and wealth and it's good for the
jild economy. I mean at the moment, we've got about
one point eight billion dollars it's been promised. Now remember
this is going into active investment into our economy. There's
nothing better about that.
Speaker 2 (28:00):
Yeah, there are currently three hundred and eight applications for
the Golden visa and they're bringing a lot of money.
You just told us that the numbers are they ready
to snap up a property as well.
Speaker 11 (28:11):
They take a little bit of time because they've got
to you know, they've got to figure out how they're
going to invest. They've got to get their visas. But
you know, this is money that's invested actively into economy.
But the thing for me is it's not just about
the money. These people bring their experiences, their contexts, their networks,
their competencies. So by and large, what happens is when
they bring their money in, they also bringing a whole
(28:34):
lot of different skills and competencies into our communities. That
just creates value. It's fantastic.
Speaker 2 (28:39):
Do you think it's going to drive house prices up?
Because I saw a guy on the telly last night
he's saying this is going to pump primes things give
people more confidence that it should affect the entire market.
Do you think it will drive the prices up or
only affect that top point five percent of properties?
Speaker 11 (28:54):
We look, what I say is that these people don't
compete with the first time buyers. They compete with a
lot of when theo's keep in mind, these people can't
buy a house under five million dollars, and it's about
they reckon. There's about ten million, ten thousand houses or
seven thousand houses that a who lived in immediately worth
over five million dollars. So for the vast majority of people,
(29:14):
that won't have any difference whatsoever. So no, in fact,
quite the opposite. I think this would be great for
builders because you know these guys will come in, they
will build expensive houses because this is what they do.
But you know, I live in Napier. There are very
very few houses and they be at any worth over
five million dollars. So I think they're good hard work
(29:36):
and keys aren't going to see a change add all
to their house prices.
Speaker 2 (29:39):
Okay, well, you've been talking to people who have got
the Golden Visa. Are they keen to build? Would that
actually be even more attractive to them because they could
then make the house that they really want.
Speaker 11 (29:49):
Yeah, accommodation of both, so you will see some buy Look,
it may it may affect house prices at the hanging
down in Queenstown, but the vast majority of people won't
see any difference. What's whoever, But I was talking to
a chap who has got a development. He wants This
is a this is an American billionaire. He wants to
build an incredibly big lodge. And there's about thirty sections
(30:11):
that will that will be worth over five million dollars.
There that is a significant amount of development. These are
houses that wouldn't be built otherwise. Of course, you know
the sections are open for kiwis to buy. But we
are talking high end and we're talking people who come
over here and when they have a property here, they
tend to stay for longer, they spend more. There is
(30:32):
no downside to this at all. So you know, when
I hear people say this is going to this is
going to impact the property prices, I just I just
think not at all, not at all. At the very
top end maybe, but good hard work and kiwis, who
are you know who are looking struggling or working hard
to get there. So the housing that won't make any difference.
Speaker 2 (30:52):
No matter what the Prime Minister says, this is still
a compromise to fit in Winston Peters. So should they
look to open it up further.
Speaker 11 (31:00):
No, I think we've got I think we've struck a
very nice balance. But I don't think this is a
compromise now. The reason I say that is New Zealand
first has always been about economic development and growth and
making sure that good hard work and keepies have the
opportunity to work. We're talking so far one point eight
billion dollars it's been promised to come into our economy.
(31:21):
I think this is going to get a little bit
of a boost and my business. I've got about four
clients in the last couple of weeks. I've said, no,
we're not interested in New Zealand because we can't buy
a property. Now they can. You're going to see more
money coming into the economy and I just want to
reiterate this is money that has to be invested actively.
So we're talking about into New Zealand businesses, into areas
(31:42):
that create jobs and economic wealth for our economy and
for all key weeks.
Speaker 2 (31:45):
Now, Stuart, you've mentioned New Zealand first and awful lot
in this interview and does this mean that you're going
to stand for them.
Speaker 11 (31:52):
No, No, not at all. All I'm saying is that
Winston and Shane represent the politics of pragmatism and I
think this is about economic development, growth and job and
Winston and Shane understand that. It's the reason why we're
talking about a good news story at the moment.
Speaker 2 (32:07):
Good stuff. Thank you so much. That is Stuart Nash.
This is news Talks, he'd b it is seven minutes
to six.
Speaker 1 (32:13):
The news you need this morning and the in depth
analysis early edition with Andrew Dickots and one Roote Love
where you Live. News talks that'd be.
Speaker 2 (32:22):
Yeah, big day tomorrow. The councilors have to submit their
water services delivery plans and uh, if pictator decided what
and what are they going to do? And are they
going to fix the leaks? Sue's very worried about the
whole thing. She's in the wilted Upper. She says their
local councils have been rushing it through for the third
September deadline, and she's worried the councils are an election
mode and she reckons these things should be left until
after the election. But yeah, big story tomorrow. What's going
(32:44):
to happen with the water? My casking come morning to you,
Good morning.
Speaker 14 (32:49):
So the bureaucraw you had you hadn't prepared a proving,
approbing open question.
Speaker 2 (32:56):
For no, no, no, But well I'm going to talk
about the bureaucrats because I talked it with Firs Simons
this morning and the New Zealander Initiative report, yes, and
then and then she was just so defensive about the
whole thing. And then of course the audience is so
angry about the whole thing, and she was saying, people
don't people don't want public servants cut. And see what
I'm afraid they do.
Speaker 14 (33:11):
The funny thing is they do and Brian Roch, who's
the Public Service Commissioners, actually sort of doing that job.
It's funny. I mentioned to the Prime Minister yesterday they
ended up cutting two thousand jobs and it was a
huge They should have done ten thousand because the approbrium
and anger at the time didn't matter what the number was,
because everyone who was furious was furious. So they missed
(33:31):
their opportunity.
Speaker 2 (33:32):
So now to see five thousand buerios, it's a two thousand.
It's a city.
Speaker 14 (33:37):
And so anyway, he might be doing the job. But
we'll talk to the New Zealand Initiative. Will also talk
to Winston Peters, who seemed sort of edgy yesterday, didn't he.
Speaker 2 (33:44):
Said, don't talk about this, don't talk about the house
raising to drag, kicking.
Speaker 14 (33:47):
And screaming, had that vibe about it. So anyway, he's
with us, Prime Minister's with us.
Speaker 9 (33:51):
They're all with us.
Speaker 2 (33:52):
They always are. And I thank you Nathan Kensy for
producing the show. And I'm Andrew Dickinson. I'll see you tomorrow.
Have yourself a wonderful Tuesday.
Speaker 1 (34:08):
For more from Early Edition with Ryan Bridge, listen live
to news talks. It'd be from five am weekdays, or
follow the podcast on iHeartRadio
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