Economy

Housing in all main NZ markets now ‘severely unaffordable’

None of New Zealand’s main housing markets are considered affordable any longer, according to a study released today. The annual Demographia International Housing Affordability shows New Zealand has continued to be one of the most unaffordable countries in the world to buy a house, with the median price more than six times the median annual …

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Wellington bus drivers vote for fare strike

Wellington bus drivers have voted for industrial action including a fare strike – driving buses while refusing to take fares – from the 28th of January if their employer NZ Bus continues to force part-time shifts on them. The company’s attempts to use more part-time shifts with fewer hours would see many drivers face loss …

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Wellington houses worth 7.4% more; Upper Hutt house values up 12.1%

House values across the Wellington region rose 7.8% in the year to December and increased 3.2% over the past quarter and the average value is now $688,074.   Wellington City values increased 7.4% year on year and by 2.3% over the past three months and the average value there is now $813,052. Meanwhile, values in …

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Student desperation for rental properties hitting new highs in Wellington

Wellington students desperate to find rentals are getting creative to try and find housing, while others with rentals are struggling to make rent. A group of Wellington university students have taken a novel approach to trying to find a new rental home. Photo: RNZ / Richard Tindiller But experts have warned it will only get worse. Massey …

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‘Juicers’ In Limelight – meet the scooter rechargers

If you happen to see a man carrying two lime scooters over his shoulders, shoving them into a car boot and driving away into the night don’t be alarmed.   Mark Pearce from Wellington is a registered lime juicer, a fairly new profession in New Zealand involving ‘harvesting’ or gathering lime e-scooters and ‘juicing’ or …

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Wellington’s movie street loses another cinema

It was the street that brought the Lord of the Rings premieres to life about two decades ago, but now Wellington’s Courtenay Place leaves a gap for movie buffs. Photo: Google Streetview Reading Cinemas suddenly announced on Saturday it was closing its building because of the earthquake risk. A draft engineering report prompted the move and now further …

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Wellington’s Reading cinema closes after earthquake report

The large Reading Cinemas complex on Courtenay Place has closed until further notice following an independent engineers’ report. Reading Cinemas on Courtenay Place. Photo: Google Maps In a post on social media, Reading Cinemas announced it would be closing the cinema complex out of “an abundance of caution”. The company said the draft report, which has not …

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Longform read – The Basin: a better venue than a new arena

In November the region’s mayors gave in-principle support for a new $200million 12,000 seat indoor arena to be built on Kings Wharf. Glen Smith argues for a better, less costly alternative. In November the region’s mayors gave in-principle support for a new $200million 12,000 seat indoor arena to be built on Kings Wharf, the justification …

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Cook Strait ferry service being removed for urgent repairs

A Bluebridge ferry is being removed from service for urgent repairs because of a gearbox fault. Photo: RNZ / Richard Tindiller StraitNZ said the ferry, which operates a service to Cook Strait between Wellington and Picton, would be out of action from this evening and for the rest of the week while the work was …

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More Wellington families struggling at Christmas – City Mission

Working families are increasingly seeking support from the Wellington City Mission. Wellington City Missioner Murray Edridge and the Mission’s Community Programmes Manager Olivia Lange. Photo: RNZ / Meriana Johnsen City Missioner Murray Edridge​said rising rental costs in the capital mean many working families have little left over for other expenses. Mr Edridge said the added …

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Wellington Regional Economic Development Agency names new chair and board member

Experienced businesswoman and professional director Tracey Bridges has been named as the new chair of the Wellington Regional Economic Development Agency (WREDA).   A proud Wellingtonian who has lived and worked in the region for 27 years, Tracey is a professional director with experience leading and growing private businesses from start-up. A founding partner of …

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Wellington City rents match Auckland City for the first time – Trademe

Wellington City rents now match Auckland City for the first time, after the median rent in the capital rose 5.8 per cent on last year to $550 per week in November, according to the latest Trade Me Rental Price Index. Head of Trade Me Rentals Aaron Clancy said rents in Wellington City had been hot …

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$154m convention center approved for Wellington

Wellington City Councillors have voted to proceed with a Five Greenstar Convention and Exhibition Centre (CEC) which will give a major boost to the local economy, create hundreds of jobs and provide stimulus for further regeneration in that part of the city.   Image: Wellington.scoop  The Council’s City Strategy Committee passed the recommendation unanimously yesterday. …

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Making matches on Manners Street

Having set up a bunch of keen comers to fill holes in the saddest stretch of the Golden Mile, commercial property specialists Bryan Block and David Grant are continuing their quest to change Wellington’s retail sector one street at a time. Story and photos by Mark Cubey David Grant (left) and Bryan Block of Crown …

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Govt bails out Whitireia with $15m after drop in student numbers kills cashflow

Whitireia Polytechnic has received a $15 million capital injection from the government after enrolment numbers plunged last year. Te Auaha, the creative industry complex developed by Whitireia and Weltec polytechnics. Photo by Mark Cubey.  Education Minister Chris Hipkins announced yesterday that the government was responding to a call for financial help from Whitireia, which lost …

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Wellington salaries close in on Auckland lead

An analysis of over 72,000 vacancies listed on Trade Me Jobs indicates that Wellington City is just $2 a year behind Auckland City as the highest earning area in the country. Jeremy Wade, head of Trade Me Jobs, said the average salary in Wellington City was up a solid 7 per cent on last year …

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