Category: Public Media

Source: Radio New Zealand

Logistics company Freightways is expanding in Australia after agreeing to buy Melbourne-based VT Freight Express for A$71 million (NZ$81.4m).

VT Freight Express (VTFE) provides express delivery of parcels and palletised freight specialising in the business market, notably the building, healthcare, retail and plumbing sectors.

Freightways said the acquisition would fit with its existing Allied Express business in Australia which operates in the consumer delivery sector. It expects the acquisition to bring savings between both businesses.

“The VTFE business operates an asset light model using a contractor fleet and leased facilities, which is similar to Allied Express and other Freightways businesses.”

Freightways will fund the acquisition through existing and new bank borrowing, and the transaction is expected to be settled early next year.

VTFE had annual revenues of A$77 million in the year-ended October, and Freightways expects the acquisition to increase earnings-per-share by 6 percent in its first year.

Freightways said the acquisition was part of its strategy to expand into business services in Australia, bringing efficiencies with its existing Allied Express business and Freightways’ own core capabilities of express pick up, processing and delivery.

Freightways will operate VTFE as a separate brand, maintaining its own leadership and sharing resources with its parent where possible.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Explainer – In a flurry of last-minute activity before the holidays, Parliament has approved changes to the foreign buyers ban that has been in place for the last seven years.

The changes will allow “golden visa” investors to purchase a home in New Zealand – but there’s a catch. They’ve got to spend at least $5 million on buying or building a home, as well as committing to other contributions to the economy.

So, can foreign buyers once again buy houses here?

Only some of them with pretty deep pockets. The $5 million minimum purchase requirement will keep buyers to pretty small numbers, and they also have to meet other “golden visa” investor requirements.

“If a migrant invests a minimum of $5 million to help grow the economy, passes a good character test, and has acceptable health, they will now be able to buy or build a home,” Immigration Minister Erica Stanford said while announcing the passage.

The change will take effect in early 2026.

Cotality NZ chief property economist Kelvin Davidson told RNZ’s Afternoons the change is quite specifically focused.

“Generally, it’s not an easing of the foreign buyer ban. The foreign buyer ban is as it’s always been. This is actually a different visa category that’s being talked about.”

The foreign buyers ban was passed by the then-Labour-led coalition government in 2018. Figures at the time showed up to 20 percent of homes in some of Auckland’s most expensive suburbs were being sold to foreign buyers.

The only people who will be allowed exemptions are those wealthy investors who are already committed to growing New Zealand’s economy.

“It’s a happy compromise,” Prime Minister Christopher Luxon said in announcing the changes earlier this year.

“We’re doing everything to make sure that it’s not just frothy speculative… driving a property market. It’s actually genuinely about supporting more investment which drives more jobs.”

How is the government trying to bring in foreign investors?

This is all part of the government’s broader goals to attract more overseas investment into New Zealand.

Earlier this year, the government announced a new “golden visa” for investors, the Active Investor Plus, which introduced two simplified investment categories – Growth, requiring a minimum $5 million investment for a minimum of three years, and Balanced, which requires a minimum $10 million investment over five years.

As of 15 December, Immigration New Zealand data shows there had been 491 golden visa applications, covering 1571 people, representing a potential minimum investment of $2.9 billion.

The foreign buyer changes are included in the overall passage of the Overseas Investment (National Interest Test and Other Matters) Amendment Bill, which also now says that overseas investment decisions must be made within 15 working days.

“Under the new law, decisions on all investments except residential land, farmland and fishing quota must be made within 15 working days, unless there is a potential national interest concern,” Associate Finance Minister David Seymour said in announcing the passage. “That compares with a 70-day statutory timeframe for the current benefit test.”

So, how many houses would this actually affect?

“The scale of potential foreign investment is pretty small, really,” Davidson said.

“The number of properties that are valued at $5 million or above, which is where these people will be able to purchase, it’s about sort of 5- or 6000 across the country as a whole.”

Rural, farm and “sensitive” land is also excluded.

Davidson said that represents less than 0.5 percent of the housing stock, “mostly focused on parts of Auckland and parts of Queenstown.”

“Of course, for buyers to actually come to buy these properties, they have to be for sale in the first place. There might only be a few hundred transactions a year in that price bracket.”

Stanford has said the change meant to show that New Zealand is “open for business”.

“New investors don’t just bring their capital, they bring skills, knowledge and experience that will drive future economic development,” she said.

Wasn’t this passed rather quickly?

Yes, it was passed late Friday night along with many other bills as Parliament sat in urgency.

Changes were introduced in an amendment paper to the Overseas Investment (National Interest Test and Other Matters) Amendment Bill.

As the bill had already been through select committee, that means the public didn’t get a chance to give feedback on the softening of the foreign buyers ban through typical parliamentary processes.

The real estate news website OneRoof reported that some agents were surprised by how quickly the changes were passed, although Seymour had previously said the changes would come before the end of the year and “be law before New Year’s Eve”.

So, is this a controversial change?

“I think this is a fairly non-controversial sort of policy,” Davidson said.

The intent is that investors are meant to come here and buy one home to live in for their own use.

“It’s not a price bracket where the average home buyer in New Zealand would really be even thinking about.”

The average house price in New Zealand sits closer to $800,000.

The Real Estate Institute of New Zealand said it welcomed the change.

“REINZ and our members support sensible reform that reduces unnecessary barriers while maintaining safeguards for sensitive assets,” it said in a statement.

National campaigned in 2023 on letting foreigners buy homes worth more than $2m subject to a 15 percent tax, but was forced to abandon that plan during coalition negotiations with NZ First.

Peters, who helped introduce the foreign buyers ban in the first place in 2018, supports the change that he called a “very, very minor” one.

He told RNZ earlier that the original foreign buyer ban was introduced in the context of “rampant” house-flipping and “serious duplicity and cheating” by some foreigners who had been “using this country as a bolt-hole”.

“That’s why the total ban happened, and this very, very, very minor adjustment will attend to the benefits of the investor.”

Davidson said that he felt overall the changes to foreign buyer restrictions could help boost investment.

“I think there’s wider positive benefits from this. It’s always seemed a little bit odd that the government’s been trying to attract foreign capital to New Zealand but not allowing those people to buy a house.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

The holiday season appears to have boosted the spirits of consumers with household confidence on the rise.

The Westpac-McDermott Miller Consumer Confidence Index rose 5.6 points in December to 96.5.

While the reading was a little below long-run averages, it was the highest level of confidence seen this year.

Men were more optimistic at a positive 102.6 points, while women remained pessimistic at 90.6 points.

An index number over 100 indicates that optimists outnumber pessimists.

“Since our last survey, confidence has taken a step higher in most parts of the country, and spending appetites have also firmed,” Westpac senior economist Satish Ranchhod said.

Spending remained strongest in the lower South Island, but was picking up in other regions.

“That includes Auckland, which is now the most upbeat part of the country.”

Ranchhod said a drop in mortgage interest rates was playing a big part in the improved confidence.

“Increasing numbers of borrowers have been rolling on to lower interest rates. That process will continue into the new year and will help to boost households’ disposable incomes right across the country.

“Importantly, while we have seen some upwards pressure on borrowing rates recently, most borrowers who are refixing now will still be rolling onto much lower rates.”

Still, the cost of living remained a major concern, as well as the soft labour market.

“Those challenges will be with us for a while yet. However, we’re starting to see some more encouraging signs in the economy, and hopefully 2026 will be a more positive year for most New Zealand households,” he said.

McDermott Miller market research director Imogen Rendall said nearly half of women surveyed believed they were worse off financially than a year ago, compared with a third of men.

“Looking ahead to next year, both men and women have broadly similar expectations for their personal finances,” Rendall said.

Men, however, are more optimistic than women about New Zealand’s short-term economic future, as well as the country’s longer-term prospects.

“Confidence amongst younger age groups is relatively buoyant, particularly in contrast to older New Zealanders.”

She said people with a job were optimistic, with confidence up 6.4 points this quarter up to 104.7.

“Those not in paid work experienced the same lift in confidence this quarter, but they are still firmly pessimistic at 86.7,” Rendall said.

“Just under a quarter of those in paid work feel they are better off financially now than a year ago, compared to fewer than one in 10 of those who are not in paid work.”

The survey was conducted over 1-11 December 2025, with a sample size of 1550 and a 2.5 percent margin of error.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand