Source: Porirua City Council
Appointments – SAP Appoints Peter Moore as Head of Partner Ecosystem in Asia Pacific
Source: Botica, Botica Butler Raudon
Auckland – 1 May 2025 – SAP SE (NYSE: SAP) today announced the appointment of Peter Moore as Head of Partner Ecosystem for SAP Asia Pacific (APAC), effective immediately. Moore takes over from Utkarsh Maheshwari, who held the position since 2021 before transitioning to the role of Senior Vice President and Head of Global Partner Sales and Services, SP, earlier this year.
In his new role, Moore will be responsible for leading and expanding SAP’s vibrant partner ecosystem across the APAC region. His remit includes driving partner recruitment, enablement, and co-innovation to deliver exceptional value to customers. He will focus on strengthening strategic alliances, fostering collaboration, and empowering partners to deliver transformative digital solutions leveraging SAP’s industry-leading technologies.
“The partner ecosystem is crucial to SAP’s success in Asia Pacific, especially as we experience rapid cloud adoption and increasing demand for specialized industry solutions,” said Simon Davies, Regional President, SAP APAC. “Peter brings a wealth of experience and a proven track record in building and managing successful partner programs. We are confident that his leadership will further elevate the value we deliver to customers through our partners and drive continued growth across the region.”
Moore brings over twenty years of experience in the technology industry, with a deep understanding of the Asian market. Since joining SAP twelve years ago, he has served in multiple leadership roles and is an active executive sponsor for many strategic SAP customers and ecosystem partners. By prioritizing customer success, he has helped drive innovation and thought leadership in many industries across Asia Pacific, Japan and Europe.
“I am thrilled to take on this new role to lead the partner ecosystem in Asia Pacific,” said Moore. “The opportunity to work with such a dynamic and innovative partner network is incredibly exciting. I look forward to collaborating closely with our partners to help businesses across the region achieve their digital transformation goals and realize the full potential of SAP’s solutions.”
Economy – RBNZ research investigates why the ‘natural interest rate’ has fallen in New Zealand over recent decades
Source: Reserve Bank of New Zealand
1 May 2025 – The fall in New Zealand’s natural interest rate has been driven mainly by declining labour productivity growth and a lower natural interest rate globally, a Reserve Bank of New Zealand Discussion Paper finds.
Pushing in the other direction, high population growth and increasing labour force participation among older households have kept the natural interest rate higher than otherwise.
This ‘natural rate of interest’ is closely related to the ‘neutral rate of interest’ and is an important benchmark for monetary policymakers when considering the level of the Official Cash Rate.
The decline in the natural interest rate among advanced economies has been widely studied. New research from the RBNZ explores the factors that have contributed to this decline in New Zealand over time.
To better understand the natural interest rate, the authors build a model capturing how households’ savings decisions change over their lifetimes. The model also accounts for the impact of changes in New Zealand demographics and government debt levels, as well as global trends.
A key driver of the decline in New Zealand’s natural interest rate is labour productivity growth, which fell in New Zealand after the Global Financial Crisis.
As captured in the model, people tend to save more as productivity growth falls, because they don’t expect incomes to rise as much in future. In turn, more savings in New Zealand flow through to a lower natural interest rate.
The natural interest rate across many advanced economies has fallen in recent decades, with the world natural rate falling about 1.5 percentage points in the post-GFC period. With New Zealand integrated into global financial markets, this lower world natural interest rate has flowed through into a lower natural interest rate in New Zealand.
The impact of these drivers has been partially offset by higher population growth and increasing labour force participation among older households. This is because households who expect to work for longer tend to save less for retirement. Higher population growth means more younger households in the population, who tend to save less than older households. Lower domestic savings means a higher natural rate of interest.
Understanding the drivers of changes in the natural interest rate is important for central banks and helps inform expectations on where the natural rate will move in future.
“If the natural and neutral rates of interest remain low, this would suggest an ongoing need for alternative monetary policy tools when encountering the effective lower bound (close to zero interest rates) on central bank policy rates,” the authors say.
The model developed in this research has a wide range of potential extensions which future work may explore. These extensions could include modelling different types of households in more detail or introducing a risk premium between the return to safe and risky assets.
More information
Read the Discussion Paper: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=03b47f37a3&e=f3c68946f8
Authors: Robert Kirkby, Trent Lockyer, Andrew Coleman
Definition of natural rate of interest: The long-run return to capital. The level of the natural rate of interest reflects the underlying balance between the amount of savings (from households or overseas investors) and demand for capital (from businesses and the government).
Definition of neutral interest rate: The nominal neutral interest rate is the level of the Official Cash Rate consistent with inflation being sustainably at target and the economy running at its potential output. When the OCR is above neutral, monetary policy restrains demand and inflation pressures. Below neutral, it is stimulatory. The level of neutral interest rates shapes expectations of where the OCR is likely to settle in the long run, in the absence of future shocks.
RBNZ’s Additional Monetary Policy toolkit: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=562a64b2ba&e=f3c68946f8
Reserve Bank Publishes Response to Deposit Taker Core Standards Consultation
Source: Reserve Bank of New Zealand
1 May 2025 – The Reserve Bank of New Zealand – Te Pūtea Matua has today published its response to submissions on three of the four core standards that set the prudential requirements deposit takers will need to meet in order to be licensed under the Deposit Takers Act 2023 (DTA).
Jess Rowe, Director Prudential Policy, says the response covers liquidity, disclosure, and Depositor Compensation Scheme (DCS) related requirements.
“The DTA standards give us a significant opportunity to create a coherent, modern and proportionate prudential framework,” Ms Rowe says.
“The three core standards covered in this release ensure deposit takers can manage their liquidity, provide timely prudential disclosures to the market, and meet data and disclosure requirements for the DCS.”
Public consultation on the proposed core standards generated 26 submissions from banks, non-bank deposit takers and industry groups.
“In response to comprehensive submissions and engagement from industry, we’re making changes to further support a proportionate approach, reduce compliance costs, and improve regulatory efficiency,” says Ms Rowe.
“This shows our focus remains on ensuring prudent management of risk, in a manner that also supports an efficient, competitive and inclusive financial system.”
Read the response document
Response to capital standard to be published later
A fourth standard, the capital standard, was also included in the core standard consultation. This standard generated a significant number of submissions. To ensure we address these submissions, and the matters raised at the Finance and Expenditure Committee inquiry into banking competition, we have announced a more comprehensive review of key aspects of our deposit takers capital settings. The response to submissions on this standard will, therefore, not be published at this time.
Deposit Takers Act background
The Deposit Takers Act 2023 (DTA) modernises our regulatory framework to help ensure the safety and soundness of deposit takers and support a stable financial system that New Zealanders can trust.
Once the DTA is fully in force (expected to be in 2028), the Reserve Bank will begin regulating and supervising credit unions, building societies and finance companies (known as non-bank deposit takers or NBDTs), together with banks, under a single, consistent, and proportionate framework.
The Act also introduces a new Depositor Compensation Scheme (DCS), effective from 1 July 2025.
The Reserve Bank ran a consultation on the four core standards from May to July 2024 and on the nine non-core standards from August to November 2024.
More information
Deposit Takers Act : https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=e438a4a08b&e=f3c68946f8
Implementation timeline : https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=f89e60d59f&e=f3c68946f8
Proportionality Framework : https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=2a63751296&e=f3c68946f8
Depositor Compensation Scheme : https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=80b599c069&e=f3c68946f8
Property Market – Momentum gradually builds in market upturn – CoreLogic
Source: CoreLogic
Property values in Aotearoa New Zealand rose by +0.3% in April, continuing the string of modest gains since the start of the year.
National and Main Centres
Median value Aotearoa New Zealand Tāmaki Makaurau Auckland $1,081,729 Kirikiriroa Hamilton Te-Whanganui-a-Tara Wellington Ōtautahi Christchurch Ōtepoti Dunedin Tāmaki Makaurau Auckland
Median value $1,226,785 North Shore $1,313,091 Auckland City $1,162,488 $1,020,445
April was generally a month of increases for the various sub-markets across Tāmaki Makaurau, although there were some exceptions. Consistent increases of +0.3% to +0.4% were seen in North Shore, Rodney, Waitakere, Auckland City, and Franklin. Manukau was flat and Papakura edged down by -0.1%.
Te Whanganui-a-Tara Wellington
Median value Kāpiti Coast Upper Hutt Lower Hutt Wellington City
Across the wider Te Whanganui-a-Tara Wellington area, Kapiti Coast stood out with a +1.4% rise in values in April, while Lower Hutt also recorded a reasonable gain of +0.4%. However, Upper Hutt only edged up by +0.1%, and Porirua and Wellington City itself were stable.
Other Main Urban Areas
Median value Ahuriri Napier Te Papaioea Palmerston North Heretaunga Hastings Whangārei Tūranganui-a-Kiwa Gisborne Whakatū Nelson Ngāmotu New Plymouth Waihōpai Invercargill Tāhuna Queenstown $1,658,111
Property market outlook
“That rate of increase looks relatively modest by past standards and given that we’re still about 16% below the record highs from early 2022. Some people may well be disappointed with such an outlook.”
For more property news and insights, visit www.corelogic.co.nz/news-research.
Notes:
The Cotality Hedonic Home Value Index (HVI) is calculated using a hedonic regression methodology that addresses the issue of compositional bias associated with median price and other measures. In simple terms, the index is calculated using recent sales data combined with information about the attributes of individual properties such as the number of bedrooms and bathrooms, land area and geographical context of the dwelling.
The detailed ‘frequently asked questions’ and methodological information can be found at:https://www.corelogic.co.nz/our-data/hedonic-index
Property Market – NZ property market bucks the trend of global uncertainty
Source: RealEstate.co.nz
New Zealand Property Report April 2025 – NZ property market bucks the trend of global uncertainty
- Respite for Kiwis as property prices remain stable in latest data from realestate.co.nz
- Stock up, buyer choice strong, but no sales boom
- Is it a buyer’s market or a seller’s market?
Is there ever a right time to buy or sell property? Yes – and it’s now! The latest data from realestate.co.nz shows stock levels are high, and prices are stable, giving buyers and sellers the advantage of time.
Sarah Wood, CEO of realestate.co.nz, says that while global uncertainty persists, New Zealand’s property market remains remarkably steady, giving buyers and sellers a rare advantage in an otherwise uncertain environment:
“We’re in something of a holding pen at present. With global economic turmoil, US tariffs, and employment uncertainty, New Zealand is a bit stuck as we wait to see how these pressures play out.”
“But there’s a silver lining: today’s well-stocked and stable property market offers buyers and sellers time, choice, and flexibility. A fast market is stressful for buyers and sellers; a slower, stable market brings real positives. If you want to have certainty around your buying and selling price, now’s a great time to make your move.”
Respite for Kiwis as prices remain stable
While the financial markets are volatile, the national average asking price has held steady. In April 2025, the national average asking price dipped 1.7% year-on-year to $852,364 — still well within the narrow range of roughly $850,000 to $890,000 that has defined the past two years.
Despite the stability, pockets of the country reported year-on-year average asking price growth during April. Most significant were Gisborne (up 17% to $724,168), Central North Island (up 12.6% to $779,099), Wairarapa (up 8.5% to $733,735), and Hawke’s Bay (up 8.1% to $778,039).
High stock levels give buyers more choice
National stock was up 6.2% year-on-year in April 2025, continuing a trend of elevated listings across the country.
“There’s plenty of stock available, but we’re not seeing a boom in sales activity to move it through yet,” says Wood.
Sales data from the Real Estate Institute of New Zealand (REINZ) shows steady movement but not at peak historical levels. Across the first quarter of 2025, residential sales increased month-on-month, from 3,774 in January, to 6,287 in February, and 7,640 in March.
Vendors cool their jets as the weather turns
The change in seasons and the arrival of shorter days saw new listings fall, down 29.2% from 12,029 in March to 8,518 in April. Wood says it’s typical to see a seasonal dip in new listings at this time of year but notes that new listings were also lower compared to April 2024.
“New listings were down 11.6% compared to last year, but there is still strong interest across the market. We’re seeing the highest level of enquiries from buyers in three years. That’s a positive sign.”
Some of the biggest year-on-year lifts in stock were seen in Gisborne (up 75.0% — though actual listing numbers remain small, rising from just 82 to 144 properties), Central Otago / Lakes District (up 28.2%), West Coast (up 28.0%), Otago (up 22.4%), Central North Island (up 19.6%), Canterbury (up 14.5%), Marlborough (up 11.0%), Wellington (up 10.8%), and Coromandel (up 10.3%).
So, is it a buyer’s or a seller’s market?
In today’s slower but stable market, both buyers and sellers have real opportunities.
For buyers, the current climate offers time to act carefully rather than under pressure. Wood encourages buyers to take full advantage of this breathing room.
“My advice? Visit 50 properties before you buy. You need to know the market, know what’s selling, and know what buyers are paying — and right now, you have the time to do exactly that,” she says.
“This market also allows buyers to negotiate terms, like longer settlement periods, and complete thorough due diligence before making decisions.”
Wood adds that buyers today have access to more data than ever before: “Our insights page gives real-time suburb trends and recent sales information, which simply wasn’t available five years ago.”
Sellers, too, can benefit from stability. Well-priced properties are still moving, and many vendors will soon become buyers themselves.
“If you accept a slightly lower sale price than your original expectations, you’re also better positioned to negotiate sharply when you purchase your next property. It’s a two-sided opportunity,” says Wood.
About realestate.co.nz
We’ve been helping people buy, sell, or rent property since 1996. Established before Google, realestate.co.nz is New Zealand’s longest-standing property website and the official website of the real estate industry.
Dedicated only to property, our mission is to empower people with a property search tool they can use to find the life they want to live. With residential, lifestyle, rural and commercial property listings, realestate.co.nz is the place to start for those looking to buy or sell property.
Whatever life you’re searching for, it all starts here.
Want more property insights?
- Market insights: Search by suburb to see median sale prices, popular property types and trends over time.
- Sold properties: Switch your search to sold to see the last 12 months of sales and prices.
- Valuations: Get a gauge on property prices by browsing sold residential properties, with the latest sale prices and an estimated value in the current market.
Glossary of terms:
Average asking price (AAP) is neither a valuation nor the sale price. It is an indication of current market sentiment. Statistically, asking prices tend to correlate closely with the sales prices recorded in future months when those properties are sold. As it looks at different data, average asking prices may differ from recorded sales data released simultaneously.
New listings are a record of all the new residential dwellings listed for sale on realestate.co.nz for the relevant calendar month. The site reflects 97% of all properties listed through licensed real estate agents and major developers in New Zealand. This description gives a representative view of the New Zealand property market.
Stock is the total number of residential dwellings that are for sale on realestate.co.nz on the penultimate day of the month.
Rate of sale is a measure of how long it would take, theoretically, to sell the current stock at current average rates of sale if no new properties were to be listed for sale. It provides a measure of the rate of turnover in the market.
Seasonal adjustment is a method realestate.co.nz uses to represent better the core underlying trend of the property market in New Zealand. This is done using methodology from the New Zealand Institute of Economic Research.
Truncated mean is the method realestate.co.nz uses to supply statistically relevant asking prices. The top and bottom 10% of listings in each area are removed before the average is calculated to prevent exceptional listings from providing false impressions.
Transport – Road freight industry gloomy about economy
Source: Ia Ara Aotearoa Transporting New Zealand
Hunters across the country get set for Opening Weekend for game bird season
Source: Fish and Game NZ
LDC Fellowship applications are open
Source:
LDC Fellowships support high potential mid to senior leaders across the Public Service to identify system leadership challenges and opportunities, and undertake research and study to address these. Each LDC Fellowship provides up to NZ$50,000 for travel, accommodation and/or development activities.
Applications open 1 May and close 30 June 2025.
We also strongly encourage joint applications from multiple agencies to demonstrate the cross-system collaborative approach to public sector leadership.
All applications require chief executive approval and supporting reports from two referees
We encourage you to email LDCprogrammes@ldc.govt.nz to discuss your application with us prior to completing the application form.
View this year’s fellowship themes and download the application form today!
Read more
Source:
LDC Fellowships support high potential mid to senior leaders across the Public Service to identify system leadership challenges and opportunities, and undertake research and study to address these. Each LDC Fellowship provides up to NZ$50,000 for travel, accommodation and/or development activities.
Applications open 1 May and close 30 June 2025.
We also strongly encourage joint applications from multiple agencies to demonstrate the cross-system collaborative approach to public sector leadership.
All applications require chief executive approval and supporting reports from two referees
We encourage you to email LDCprogrammes@ldc.govt.nz to discuss your application with us prior to completing the application form.
View this year’s fellowship themes and download the application form today!