Category: Business

Source: Radio New Zealand

Another big name is leaving Newmarket, but the local business association says things are looking up for the Auckland shopping district.

Retailer Twenty-Seven Names told customers this week it had decided not to renew the lease on its Newmarket shop.

“Yes, it’s sad and yes, we’re a little emo about it. But we’re not in a position to renew the lease, and we’re choosing to honour the decade we had in that beautiful space rather than stretch it beyond what feels right,” it said in an email.

A number of shops in Newmarket have closed in recent years, including Smith & Caughey, Sportscraft and Route 66.

Retail consultant Chris Wilkinson said shopping areas in Auckland had been jostling for position in recent years.

“Newmarket has faced increasing competition as Sylvia Park continues to add new anchor attractors, while Commercial Bay’s retail and hospitality offer and the luxury quarter on Queen Street have won back shoppers who were being wooed by Westfield Newmarket,” he said.

But he said there were positive signs for the area, including university developments and public transport connectivity that would benefit from the City Rail Link.

“That will unlock new audiences and increased convenience which are key to driving growth in an otherwise fairly flat spending environment. Chemist Warehouse have secured the former Smith and Caughey site, and that will reinvigorate this prime retail strip significantly.

“Challenges have been around the suitability of spaces, with many older and smaller sites no longer being suitable for the needs of today’s tenants. A number of major occupiers moved from the retail strip into Westfield when the refurbished centre opened, and it’s taken time to backfill these sites.

“However, the fundamentals of Newmarket are strong, with significant spending power within its core catchment area and good connectivity. Newmarket is a favourite spot for boutiques to locate and hip brands like Nature Baby, although the decision by Twenty-Seven Names is really just reflective of the evolution of these brands in the way they connect with their markets.”

Newmarket Business Association chief executive Mark Knoff-Thomas said there had been a prolonged period of disruption as the area dealt with Covid and then the economic downturn.

“The last sort of six months, leasing activity has ramped up again. It’s very sad about Twenty-Seven Names closing, but that site has already been leased to another retailer coming in.”

He said there had been renewal in some of the areas that had been empty for a while.

“You’ll see in places like Broadway a lot of activity, a lot of fit-outs happening. Other examples like Nuffield St, over the back of Broadway, that’s almost completely full again with leasing.

“By mid-year we should be back up and getting towards where we were before Covid.”

He said times were still tough for retail, but the end of the year had been respectable.

“New Zealand’s been though a pretty tough time and I think there’s some really good reasons to be optimistic about the year ahead for all of us – not just Newmarket, but across the board.

“Every economic downturn has a tragic side of it but also has an opportune side of it as well, where new people come in and things get regenerated. I think we’re probably at that phase of the cycle now where new things are starting to happen.”

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

LiveNews: https://nz.mil-osi.com/2026/01/30/what-next-for-newmarket-as-emo-twenty-seven-names-goes/

Source: Radio New Zealand

2026 could be a year in which the New Zealand share market shakes off the underperformance that has weighed it down since Covid hit, investment experts say.

For the decade until 2020, the NZX was one of the best performing share markets globally. But since 2020, it has lagged.

Mark Lister, investment director at Craigs Investment Partners, said it was well positioned for change.

“Last year we were up about 3 percent and many other markets were up much more than that, between 10 percent and 30 percent depending which market you’re looking at.

“We’ve been a major laggard and it wasn’t just last year, either. Since Covid, we’ve been flatlining which is in part due to our economy being in recession for a fair degree of that time while other parts of the world have not been in recession and have been ticking over nicely.

“Part of it is also the strength in the tech sector and so forth overseas, we don’t really have a tech sector so we’re never going to be able to ride that wave.”

Over the last five years, the NZX50 was up 1.69 percent, compared to 82.53 percent for the Nasdaq and 87.87 percent for the S&P500.

“Would I go as far as saying we will do better than some of those international markets over the next couple of years? Probably not, but I do strongly believe we will at least close that performance gap with other international peers. We’ll have a much better year in my opinion than we have had for the last four or five years.”

But he said markets were cyclical and the NZX could outperform again.

“You look at the 10 years leading up to the start of 2020, we, the New Zealand market, outperformed international shares in seven out of 10 years. So if you and I were having the same conversation on the 1st of January 2020, and we wouldn’t know that Covid was about to hit at that point, but if we were having this conversation then, we would be talking about how the New Zealand market has been so much better than international markets, and is there any point investing overseas? That was the story for the whole decade.

“When I cast my mind back to those years it was actually quite hard to get investors to have more international stocks because they were like but New Zealand’s been doing really well, why should I bother?”

He said if the tech sector hit trouble, New Zealand might look like a good alternative.

“We’re not as hyped up and frothy as other markets. I still think in a long-term sense, international markets look more inviting because they’re bigger, they’re more innovative, there’s more happening and the growth from outside New Zealand is probably stronger than it is here.

“But I think our market looks interesting to me at the moment and dividend yields are attractive. with term deposit rates and the OCR [official cash rate] lower than it has been for some time. So, and our market is a very tax efficient place to invest.”

Mike Taylor, founder of Pie Funds, said it made sense to expect more from the NZ market.

“But markets trade on sentiment as much as earnings. The election later this year may have an impact. I’d like to think a turn in the NZD is a signal that things are improving for NZ Inc, albeit off a very low base.”

At Generate, investment specialist Greg Smith said there were now signs of “genuine green shoots” coming through in the economy.

“As activity begins to turn, parts of the local share market could also start to perform better in the year ahead. It won’t be uniform, but the backdrop is gradually becoming more supportive than it was a year ago.”

Dean Anderson, founder of Kernel, said there were already bright spots in investment markets.

“The Emerging Opportunities Index, which is looking at smaller companies outside the large top 20 listed on the index and how they’ve performed, is actually up 17 percent in the past 12 months versus the S&P 500 in New Zealand dollar terms … which is up 9.2 percent.

“So what was driving that, though, and what’s been really interesting is that there have been a lot of smaller companies on the NZX over the past year that often fly under the radar of analysts, too small for the very large KiwiSavers who are so big they’re forced to basically only invest into the big names. And these companies have existed and they’ve had quite attractive ratios and look comparatively cheap. And what we’ve seen is they’ve now started to come on the radar of others for acquisition targets.”

That could generate very strong returns for investors in those companies, he said.

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

LiveNews: https://nz.mil-osi.com/2026/01/30/could-this-be-the-year-nzx-stops-being-left-behind/

Source: Radio New Zealand

Can you still make money buying a property and doing it up to resell?

As data from Trade Me shows that buyers are moving away from ‘doer-uppers’, property experts are divided on how much value people can hope to add by renovating a home.

Trade Me said its survey of 2200 people found 49 percent of active buyers were looking for a house that already felt new or updated and 16 percent wanted a new build.

“The DIY dream appears to be fading. Only 6 percent of buyers are now explicitly looking for a fixer-upper, while just 15 percent are interested in original-condition properties. In a market with fluctuating building costs, many buyers would rather pay more for a finished product than face the uncertainty of a renovation,” Trade Me Property spokesperson Casey Wylde said.

Nick Goodall, head of research at Cotality, formerly Corelogic, said its data indicated that, at a high level, materially increasing the quality of a property would lift the value by 4 percent to 5 percent.

He said that would need to be more than just a new coat of paint.

“That figure is really looking at a full renovation. You’re probably talking about double-glazing the windows, modernising core areas like bathroom and kitchen.”

But he said some first-home buyers who did want to buy an older house and do it up might be doing it so they could enjoy it, rather than to make money.

“The improved value doesn’t necessarily matter if you’re going to be living in it for a decent period of time, and you get to enjoy the benefit of that improved quality, rather than doing it purely based on ‘if I spend $10,000, it’s going to increase the property value by $20,000’.”

He said most owner-occupiers would not be doing up a property purely with the idea of financial gain. “The data sort of proves that you need a pretty full-scale renovation to even get a 5 percent lift … you don’t do it for that reason, you do it to live in yourself.”

Investors would be looking at ways to improve the rents that could be charged, he said. “In which case they need to be pretty efficient with their renovation so they’re not overcapitalising on it.

“[They might be] going to be making a more significant change, such as adding that extra bathroom so that the capacity of the property increases and you can charge a higher total rent as well.”

He said there was also less of a difference in price with new builds at the moment than there had been at some points in the past, which meant more people could afford to buy new.

“The cost to build has slowed down, the growth in the cost to build has slowed down. So that gap’s closed up. And certainly for many people, new builds will still be an option because, the lending restrictions allow for more people to go into new builds.

“You don’t have to adhere to the LVR [Loan to Value ratio] restrictions. For example, if you’re buying new, DTI [Debt-to-Income ratio] is also exempted too. So I think there’s a few extra incentives to go and build new, which means that your demand might stay there.

“It means you’re probably going to be getting a smaller house … looking at a townhouse, for example, but at least it’s new and modern and won’t require any work. And the good news from that perspective from a first home buyer’s view is that there is plenty of them, particularly in Auckland, but also around the country. And I think that’s part of the reason we’ve seen continued high first home buyer activity is because those entry-level townhouses, particularly in Auckland, have been so prevalent that the options are there and they’ve not taken advantage of that.”

But investors said it should be possible to generate higher returns from renovations.

Property investment coach Steve Goodey said he had found that structural work such as replacing roofs or piling did not increase the value of a property because people assumed a house would have those things.

But he said cosmetic work could be cost-effective.

“If you buy well and get a discount when you purchase, maybe 10 percent, then you add 5 percent or 10 percent in value to it, that added 20 percent should allow the property to recycle and you can buy another property, too, which is always the way I have looked at it.”

Ed McKnight, economist at Opes Partners, said 5 percent seemed low.

“A standard rule of thumb is that is you spend $1 on a renovation, you want the value of the property to increase by at least $2. So for instance, if there was a $600,000 property and the investor spent $80,000 on a renovation, then a good investor would want the property to increase by at least $160,000 to $760,000. That’s a 27 percent increase in this example.

“Often those improvements would be reasonably extensive, including bathroom and kitchen upgrades, repainting and potentially repurposing an old dining room into a bedroom.”

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

LiveNews: https://nz.mil-osi.com/2026/01/30/can-you-still-make-money-doing-up-a-property-to-resell/

Source: Radio New Zealand

• Business confidence retreats 10 points from a 30-year high but still seen as strong
• Businesses own expectations drop 9 points, but still historically high at 52 percent
• Wage pressures start to lift modestly with inflation expectations the highest in 15 months.
• More firms expect to raise prices over the next in two years

January’s business confidence is down 10 points from December’s 30-year high but is still considered to be extremely strong.

ANZ Bank’s business outlook’s headline confidence indicates a net 64 percent expected better economic conditions.

While businesses’ own expectations fell by 9 points to 52 percent, that reading was also historically high.

“The economy has clearly turned higher,” ANZ chief economist Sharon Zollner said.

“Reported past employment is also rising and is back in the black for all sectors. That hasn’t been the case since late 2022,” she said.

She said reported past activity, which was the best indicator of GDP, rose 3 points to 26 — the second highest reading since August 2021.

“The less-good news is re-emerging signs of inflation pressure.”

Inflation indicators rose to the highest reading in nearly three years (March 2023) with prices expected to rise by 2.1 percent, with wage pressures also expected to increase.

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

LiveNews: https://nz.mil-osi.com/2026/01/29/business-confidence-retreats-from-30-year-high/

Source: Radio New Zealand

About 200 pensioners have had the amount they receive in NZ Super affected this week because of a problem with the Ministry of Social Development’s IT system.

One man who contacted RNZ said he had been receiving NZ Super for more than 10 years, as well as a small proportion from Canada because he had worked there briefly.

But his NZ Super payment did not arrive on Monday.

When he called to ask what had happened, he was told there was a system error and everyone receiving Canadian or Netherlands pensions had their NZ Super suspended.

Paula Ratahi-O’Neill, the ministry’s general manger of centralised services, said it was working urgently to fix a fault that affected people receiving overseas pensions.

“The fault was in the IT system that updates overseas pension rates. It has caused a small group of people to have their NZ Super payments incorrectly assessed.

“This has led to some payments being suspended, and in other cases incorrect payments being made.

“We estimate that around 200 clients receiving overseas pensions have been affected. We will continue to monitor numbers.

“We are working with urgency to fix these payments and will be paying amounts owing to people by Friday. We apologise to those impacted by this fault.”

She said the ministry’s technical team was working “at speed” to stop other payments being affected and a data fix should be released by Monday.

Some overseas pensions that are deemed to be similar to New Zealand’s system offset NZ Super.

For every dollar people get from an overseas pension, their New Zealand payment is reduced by one dollar.

According to the government’s website, to count as a pension that offsets NZ Super, the pension needs to be part of a programme providing pensions or benefits, cover something that NZ pensions and benefits cover, such as old age or disability, and be administered by or on behalf of a country’s government.

Voluntary savings schemes generally were not included.

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LiveNews: https://nz.mil-osi.com/2026/01/29/hundreds-of-pensions-affected-by-it-error/

Source: Radio New Zealand

A landlord and his property management business have been ordered to pay more than $60,000 in exemplary damages after tenants at 34 properties complained of cockroaches, sewage overflows and holes in their walls and floors.

Quan Shu, also known as Marshall, and ARent1 Ltd were investigated by the Ministry of Business, Innovation and Employment’s Tenancy Compliance and Investigations Team after complaints from tenants in Auckland and Rotorua.

They were jointly ordered to pay $61,150.44 by the Tenancy Tribunal for breaches across 34 different tenancies. The co-landlords have also been restrained from committing the same unlawful acts, including failing to provide premises in a reasonable state of cleanliness and failing to lodge bonds, for a period of three years.

That means any further breach can attract more serious penalties.

Shu is the director of ARent1.

The tribunal said a range of recurring issues were identified during site visits by TCIT, including smoke alarms and extractor fans not working or not installed, damaged gutters, excessive rubbish and no ground moisture barrier.

Tenants also complained of a cockroach infestation, sewage overflows, and holes in the walls and floorboards.

The tribunal said Shu and ARent1 had also unlawfully entered clauses in tenancy agreements, allowing for immediate termination if tenants did not pay rent on time. There were also damaged gutters and drainage systems, and excess rubbish and poor sanitation, it said.

The adjudicator noted Shu’s operation was sizeable and he would have been aware of his obligations under the Residential Tenancies Act, including the requirement to comply with Healthy Homes Standards and to lodge bonds within 23 working days.

Shu accepted that he had breached his obligations under the Act in multiple instances but argued his actions were not intentional and partly arose from the fact that he was an inexperienced landlord who had not intended to operate large numbers of tenancies.

TCIT national manager Brett Wilson said landlords legally had to comply with the law.

“It is not an excuse to say that they had not intended to operate as a large-scale landlord. Operating a tenancy is a business and that comes with responsibilities for landlords to comply with all legal requirements,” he said.

“Mr Shu and ARent1 Limited displayed a pattern of neglect and non-compliance across dozens of individual properties, including failing to lodge tenants’ bond on time and including unlawful clauses in tenancy agreements.

“Mr Shu acknowledged some bond payments deposited into his bank account were directed towards the payment of personal loans. Bond payments are not the landlord’s own money, and it is simply not acceptable for them to use tenant funds to pay for their own personal financial obligations.”

The tribunal noted that unlawful clauses in tenancy agreements, which included allowing for immediate termination of a tenancy if the tenants did not pay rent on time or the landlord wanted to sell or repair the property, directly attempted to defeat and evade the protections available to tenants under the Residential Tenancies Act.

Sarina Gibbon, of Tenancy Advisory, said it was not reasonable for a landlord to claim naiveté.

“I think this is a continuation of the old guard, a very bygone time of landlording, which unfortunately we’re still seeing some of it in the market at the moment… For so, so long in New Zealand, we’ve allowed landlords to get away with so much and profit off these horrendous properties that essentially profit off people’s miseries, right? So, that is what the last 15 years of residential tenancy law development has been all about, continuously dragging our rental sector into 2026.”

Gibbon said she thought the TCIT absolutely did its job.

“Ignorance of the law is no excuse. That’s well accepted across our legal system… I think if anything, anyone who owns that many should take more care because their ability to do harm is even greater,” she said.

“With any sort of regulator funded by the public kitty, they’ll have to look at cost-benefits… in this instance, I can see why TCIT looked into this matter, because (this particular landlord has 34 separate tenancies, and the scope to do harm is so much greater than a landlord who has one tenancy with one disgruntled tenant.

“If you are somehow aware that your landlord is operating a big portfolio, or you’re with a property management agency, and you know that they operate a sizable portfolio, and the bad practices are endemic throughout the entire business practice up and down, I would characterise TCIT as perhaps a more efficient way to get some redress.”

She said tenants should have more power in the current market, where rents are softer and there is less competition.

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LiveNews: https://nz.mil-osi.com/2026/01/29/landlord-told-to-pay-60k-in-damages-over-cockroaches-and-sewage/

Source: Radio New Zealand

Warnings of impending share market doom didn’t play out in 2025, and the year ended with solid returns for KiwiSaver investors – and some change at the top of the performance tables.

Actuarial firm MJW has released its latest investment survey for the December quarter, which shows most funds, both within KiwiSaver and outside the scheme, had a small but positive return in the three months and solid performance over a longer period.

It said the median KiwiSaver balanced fund returned 1.7 percent for the quarter, after costs and before tax, and 9.8 percent for ther year.

“This caps a particularly healthy three-year period with the median growth, balanced and conservative KiwiSaver funds returning 13.3 percent, 10.9 percent and 7.4 percent per annum respectively.”

MJW principal Ben Trollip said developed markets equities were a big driver of results.

“In local currency terms, the MSCI World Index rose 3.4 percent over the quarter. While US markets did well, stronger performance came from Japan, up 12 percent, and the UK, up 6.2 percent. Emerging markets were led by India which rose 6.2 percent.”

The New Zealand dollar weakened compared to most currencies which meant that the returns were better in unhedged terms.

Trollip said although a lot of the noise in the year was about the performance of the US tech giants – such as Nvidia – the MSCI Emerging Index, which tracks companies in countries such as China, Brazil, Taiwan and India, had returned 30 percent, compared to 20 percent for the Nasdaq over 2025.

In KiwiSaver, Simplicity was first in growth, conservative and balanced funds for the quarter.

Over a year, Westpac was first in the growth and balanced categories, with 12.8 percent and 11 percent respectively, and AMP was first in moderate, with 9.5 percent. ASB was first among conservative funds, with 7.6 percent.

Over three years, Simplicity was first in the growth funds, with returns of 15.7 percent a year, ASB first in balanced, with 12.6 percent, AMP first in moderate with 10.9 percent in its moderate/balanced fund and ASB first in conservative with 8 percent.

Over 10 years, Milford was first in growth, with 10.2 percent, and balanced, with 8.1 percent a year, AMP was first in moderate with 5.8 percent and Milford was first in conservative with returns of 5.1 percent a year.

Trollip said the survey only assessed the largest KiwiSaver providers.

It did not include new entrant Sharesies, which said it had received 10 percent of all scheme transfers in October.

“In global markets, for example, there was a bit of a sell-off from memory in around November, and then things rebounded,” Trollip said.

“Also, in a similar vein, New Zealand interest rates fell quite sharply on the back of a weak GDP number, and then have subsequently risen back. So there was a bit of a down and then back up again over the three-month period.

“But zooming out, it was a pretty solid year and capping a solid three-year period.”

He said the returns over three years were more than many people would expect.

He said it was noticeable that Simplicity had topped the growth category, whereas providers that had traditionally been strong, such as Generate and Milford, had a weaker quarter.

Simplicity could have been helped by its global allocation being higher than others in the growth category, he said.

“I think the other thing that might have helped them is that their New Zealand fixed interest – I think that’s where they put their home loans, things like that. With interest rates moving around it was a bad quarter for traditional New Zealand fixed interest but Simplicity’s allocation to home loans and the like might have been what drove their better performance relative to their peers.”

But he said there could be a lot of movement in three-month periods, and it was better to take a longer view.

He said Milford’s active growth fund, which has been a long-term top performer, had grown from $3.3 b million in December 2022 to $8.5b.

Trollip said it was noticeable that five or 10 years ago, New Zealand shares were outperforming global equities.

But that had not been the case for the last three to five years.

“And New Zealand equities still have been less volatile than global equities, but they haven’t given you much of a return boost.

“In fact, they’ve been quite a drag on performance. So, one of the things I’ve been contemplating with potentially the New Zealand economy turning around low interest rates and all that, is the sector poised for a rebound or not? But it’s very hard to pick the timing of that, I think.”

The report said Indeed, over the long term New Zealand equities had brought useful diversification from global equity markets with little give-up in return.

“Add to that the fact that local investors may have an advantage in picking (and monitoring) good active managers, and may have a tax advantage, and the case for a home bias feels somewhat stronger despite the poor recent run from our domestic bourse.

“Moreover, with global equity markets becoming even more concentrated on the AI thematic, a little diversification would seem welcome. Worries abound given the strong run in US equities in particular, with that geography representing some 70 percent of global indices due to its strong momentum.

“As 2025 drew to a close, there was increasing fear of a correction in the value of technology stocks. In fact, going on search traffic alone, one would say enthusiasm peaked in September 2025.”

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

LiveNews: https://nz.mil-osi.com/2026/01/29/strong-three-years-for-kiwisaver-members-as-new-player-takes-top-spot/

Source: Radio New Zealand

New Zealand’s biggest bank has downgraded its forecast for house prices this year, but new research shows not everyone is feeling the same way.

ANZ said house prices had been broadly flat for three years and there was clear evidence the economy had improved in the second half of 2025, which should be a tailwind for the housing market.

“However, house prices are starting 2026 with little momentum, and uncertainty from the upcoming election – including the prospect of a capital gains tax – may keep some buyers on the sidelines this year,” the bank’s economists said.

“Moreover, the OCR [official cash rate] looks set to rise sooner rather than later after growth and inflation have both come in hotter than the Reserve Bank expected.”

They had brought forward their expectation of the first upward movement in the official cash rate, to December. Previously, they had thought it would happen in February next year.

“As OCR hikes draw closer, mortgage rates are shifting from a tailwind to a headwind for the housing market. Weighing it all up, we have reduced our house price inflation forecast for 2026 to 2 percent from 5 percent previously.”

They said there was clear divergence between different parts of the country. Wellington prices were down 4 percent over six months. Auckland’s had also fallen, but not as much.

Canterbury, Otago and Southland prices continued to rise.

“Indicators of the balance between demand and supply suggest prices will continue to be flat through the early part of 2026. The ratio of sales to inventories is a useful indicator of heat in the housing market and tends to give a three- to six-month lead on house price momentum. It is flat as a pancake, suggesting prices will be too.”

Meanwhile Cotality research had found that survey respondents from real estate, banking and related sectors expected price growth this year, and 14 percent expected price rises of more than 5 percent.

Head of research Nick Goodall said while sentiment had lifted from recent lows, expectations remained more conservative in New Zealand than in Australia, reflecting a weaker economy and jobs market and persistently high levels of homes for sale.

“The survey provides an important industry pulse on how confidence is rebuilding across housing after a prolonged period of subdued conditions,” he said.

“Sentiment around price direction has clearly improved, but expectations remain grounded with the majority of respondents anticipating modest gains rather than a rapid rebound, which reflects the cautiousness of borrowers and the stuttering economy.

“Supply is still high, but I think demand’s coming back, interest rates have obviously come down, and are set to stay low for a wee bit, even though there’s a bit of doubt as to how long that wee bit is. And so that sort of brings more, not just willing but able buyers to the market who will be a bit more active.

“I think also the lending restrictions loosening up mean more people are going to be coming forward.”

He said the gap between New Zealand and Australian expectations highlighted the different stages of recovery across the two markets.

Canterbury was the most confident region, with 87 percent of respondents expecting prices to rise and almost two-thirds forecasting growth above the national average.

Auckland sentiment had improved but remained cautious, with 73 percent anticipating price growth amid concerns around employment conditions, affordability and lending appetite.

Wellington continued to lag, with 63 percent expecting prices to rise, though only 7 percent foresaw growth above 5 percent and most expected underperformance relative to the national trend.

“On the whole New Zealand’s housing market is showing tentative signs of improvement, but the same rate of recovery can’t be applied everywhere, it’s quite fragmented,” Goodall said.

“Improving confidence is being tempered by affordability constraints, the jobs outlook and cautious lending conditions, particularly in larger urban markets.”

Planning reform had added a layer of longer-term optimism to New Zealand’s housing outlook. Almost half of respondents believed recent changes to planning laws and the Resource Management Act would benefit their region over the next two to three years, though most said it was too early to assess the impact on development activity or housing supply.

Goodall said the reforms were expected to support supply over time, but there would be limited immediate impact and market conditions would continue to be affected by demand-side constraints.

“Policy reform has the potential to improve total housing supply with greater build intensification, but the effects are likely to be gradual rather than immediate,” he said.

“In the short term, price outcomes will continue to be driven by sales volumes, listing levels and borrowing capacity.”

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LiveNews: https://nz.mil-osi.com/2026/01/29/biggest-bank-downgrades-house-price-forecast/

Source: Radio New Zealand

Consumer NZ is calling for scam protection to apply to online marketplaces, after a man lost $35,000 buying a car that turned out to be stolen.

The man complained to the Banking Ombudsman about the scam.

He transferred $35,000 from his account into someone else’s, trying to buy a car online.

But the car was later proven to be stolen. He reported the fraud to the bank and the police. His bank tried to retrieve his money, the ombudsman scheme said, but was unsuccessful.

He complained the bank had not acted quickly enough to recover the funds, did not keep him informed and did not reimburse him.

He also asked why the transaction was not identified as suspicious.

The ombudsman scheme investigated and said the payment did not raise any suspicions that should have prompted the bank to make further inquiries.

“The bank was not therefore obliged to reimburse his loss. We also found the bank made reasonable efforts to recover the money. It contacted the receiving bank within 30 minutes of [the man] notifying it about the scam and asked for the money to be recalled. It also confirmed to [him] that it had taken this step.

“It contacted the receiving bank several more times, but the receiving bank eventually advised that it could not recover the money. In short, it acted promptly and communicated reasonably throughout.”

His complaint was not upheld.

Consumer NZ spokesperson Jessica Walker said it was an awful situation.

“Even the new scam reimbursement policy that the banks kicked off in December wouldn’t protect this person. We want protections to extend to online marketplaces. We also want social media and digital platforms to take accountability for scams that are happening on their watch. In the meantime, we urge ultra caution for anyone making purchases online. Because if things go wrong, right now there’s not much you can do.”

Banking Ombudsman Nicola Sladden said the scheme was seeing fewer scam-related complaints this year.

“However, the financial impact of scams remains significant, with losses continuing to rise – reminding us that scammers are adapting quickly, and we must stay vigilant.

“Scammers target people of all backgrounds and ages. If you share personal information like bank account passcodes online, you could be at risk of a scam. You also need to be on guard when it comes to buying things online. Be wary of people or organisations advertising online. Check who you are paying before sending any funds.

“We encourage anyone who thinks they’ve been scammed to contact their bank as soon as possible. If you are not satisfied with the bank’s response, you can contact the Banking Ombudsman scheme.”

At the end of last year, updates to the Code of Banking Practice introduced new protections.

Banks now gave pre-transaction warnings for certain payments, offered confirmation of payee to check that an account number matched, identified high-risk transactions or unusual activity, offered a 24/7 reporting channel for customers who thought they had been scammed and shared scammer account information.

If they did not meet the commitments, they must compensate customers for all or part of their losses. They also compensated customers whose bank account was accessed without the customer’s authority.

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Source: Radio New Zealand

An internet watchdog has reminded small businesses they are not exempt from cyber-attacks, after a law firm in Napier was hit in January.

Langley Twigg Law said it was hit by a cyber attack affecting internal information about the firm as well as client documents on 11 January.

The firm said it was working with digital forensics and cyber specialists over the attack.

Netsafe’s chief online safety officer Sean Lyons said the attacks were not always targeted and could be random.

“It can happen in two ways, it can absolutely be targeted, somebody could decide that a particular entity is holding information that they want.”

Lyons said many of the attacks occured when a hacker found out a method or a mechanism they could breach and then took a scatter-gun approach to try and find places that were vulnerable.

“That might be sending out emails with fake invoices or attachments, it might be sending other messages, it might be getting them to click on pages on compromised websites.”

Lyons said once a hacker was in, their criminal intent took over.

“Once they are in they will be trying to find out just about everything about that organisation and see what’s of value in there, that they can take to either sell or exploit the original owners of that information to blackmail them into giving them money.”

He said it was often harder for small business to keep protected, as bigger organisations often had their own cyber-security departments.

“For smaller businesses, it is being aware that these things can happen, that the data they store is of value to other people.

“Some people might think what could be the value, why could I be a target, but like I said, people aren’t always initially a target, but the information that is in there could be of value to somebody, and blackmailing organisations might be a good way for a criminal to make money,” he said.

The attack came not long after the Law Society sent out advice to its members on how to best manage them, and how to keep safe.

Chief executive Katie Rusbatch said attacks among the sector were becoming more common.

“We’ve seen this on the rise recently and we have identified a need for some guidance and training in this particular area and that’s been a focus for us.

“So really in terms of the guidance that we’ve shared, it’s focusing on how these things like cyber attacks can happen, what those common threats to law firms are, whether that’s things like e-mail compromise or phishing and things like that.

“And then some also some guidance that law firms and lawyers can take to minimise the risk and create an environment for stronger security.

“So providing some really practical guidance in that space so that lawyers can be prepared and also create a culture where they have an awareness of what those risks are.”

Practical steps available

Rusbatch said there were simple things firms could do to keep safe.

“So things like secure access and authentication, there is a lot talked about now about multi-factor authentication for things like emails, trust account systems that law firms might have, keeping systems up to date, so regularly applying software and security updates.

“Training, testing your people, so really making sure that staff have an awareness of phishing and safe e-mail practices and running through some tests in that regard so that people are able to see how they respond if there might be a phishing e-mail.

“So really creating awareness with your staff and then planning for incidents as well, if something does happen, making sure that you have an incident response plan that you know who to contact that who the cyber specialists are that you might need to contact.

“And then other things that backup and recover systems, making sure you have backups offline and the secure cloud and that sort of thing as well,” she said.

The Office of the Privacy Commissioner confirmed Langley Twigg Law had been in touch about the incident.

“We will continue to work with them as they further investigate this incident, including ensuring they are aware of their legal obligations in relation to a privacy breach that either has caused or is likely to cause anyone serious harm.

”We would expect Langley Twigg to provide any further detail they would want to share in relation to this,” a statement said.

The police said they were also investigating.

The attack came about a month after a major breach of patient health information portal ManageMyHealth.

The service connected patients with clinicians and allowed people to access their medical records.

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Source: Radio New Zealand

The Free Speech Union is concerned proposed changes to telecommunications regulations will open the back door to encrypted communications channels, but the tech industry says the horse has already bolted.

The Telecomunications Bill introduces a new enforcement power to allow the Ministry for Business, Innovation and Employment (MBIE) to suspend or revoke licences if providers fail to comply with regulatory requirements, including services provided by overseas providers, such as WhatsApp, Signal, Telegram and Starlink.

“That power effectively gives a government official the ability to switch off a communications service in New Zealand,” Free Speech Union chief executive Jillaine Heather said.

“That raises serious questions about whether genuinely private communication would remain available in New Zealand at all.”

Tech Users Association chief executive Craig Young said the technology behind end-to-end encryption was already under pressure from developments in quantum technology, which was capable of breaking current encryption standards.

“I do understand their concern, but in my mind, the encryption battle is going to be ongoing no matter what happens,” Young said.

“I think technology will always be ahead of how fast governments react. At least (with) the New Zealand government, we have a level of trust with them around not abusing any powers that they that might be in place.

“But I don’t think that is a concern we should be worried about at the moment.”

Still, Heather said communication was the first thing a government would pull or restrict, if there was an emergency or civil unrest, as had been seen in Iran and Myanmar over the past couple of years.

“There’s a real hole in the fact that they want to break encrypted communications because it makes it so unsafe for everyone.”

Young said it was unclear why the government had included the new enforcement power in the proposed legislation.

“It’s not completely clear from reading (the bill). I mean, you have to read quite a lot into the legislation to find that because it’s in with other things that we’re obviously quite keen to see happen around the telco space.”

Heather said the union would be sharing its concerns and questioning the Parliamentary Select Committee about its reasons for inclusion of the new powers, later this week.

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Source: Radio New Zealand

New Zealand retailers need to “step up” to keep up with the wages and conditions offered by international businesses coming into New Zealand, one union says.

Ikea said on Wednesday it was hiring an extra 85 staff for logistics and food services, and adding evening shifts for stock replenishment.

That will take its total New Zealand workforce to 561.

It is also paying staff an entry level rate of $29, which increases to $31 as they progress to the next level.

They can also access a subsidised transport programme offering 75 percent off commuting costs, five weeks of leave, subsidised meals and a staff discount.

“The response from New Zealanders since opening has been incredible, and we’re proud to be growing our team to meet that demand while staying true to our values,” said New Zealand people and culture manager Lauren Clegg.

“Opening in a new market has its share of challenges and learnings for our team. We’re committed to listening, improving and supporting our co-workers along the way. By investing in competitive pay, meaningful benefits and everyday support, we want people choose to grow their careers with us as we continue building Ikea in Aotearoa together.”

Rudd Hughes, retail secretary for Workers First Union, said Ikea’s offer was a good one.

The union is due to initiate collective bargaining in the next week for staff at Ikea.

But he said the union had spoken to Ikea before the shop even opened.

“They have made it quite clear that their wages will be living wage and above. And so, although they didn’t start off with a living wage, they’ve now gone to the living wage… we’ll be looking to improve that, but also not just on the wages, but also other conditions.”

He said Costco and Kmart also offered the living wage or more.

“Other New Zealand-based brands or Australian-based brands like Woolworths, Foodstuffs, Briscoes, Warehouse, they’re all lagging behind and lagging significantly.

“Kiwi businesses really need to kind of step up to the market and pay their workers what they need to actually live in a society.”

He said Ikea’s hiring would have an impact on other retailers.

“It’s a significant player in the economy, I’m sure they’ll probably branch out as well. We welcome that. We also welcome the way in which they have worked alongside us to develop a relationship with the union, which isn’t that common.”

He said the union would use examples like Ikea as benchmarks in bargaining with other employers.

“The living wage should be the minimum for any worker in this country, but particularly retail workers as well. We have a large number of retail workers in this country.

“Why shouldn’t they have a living wage so they can partake in society, they can be part of society and they don’t have to scrimp and save?”

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Source: Radio New Zealand

The storm that lashed Canterbury, Otago and Southland with severe winds in October has resulted in the second-most claims for an event in rural insurer FMG’s 120-year history.

New Zealand’s largest rural insurer has already paid out $20 million, but expects that figure to rise to about $50 million.

The storm toppled trees, tore roofs from buildings, and downed power lines leaving thousands without power.

An FMG spokesperson told RNZ nearly 5000 claims had been lodged with about half of those now closed.

The only event resulting in more claims for the insurer was the Auckland Anniversary floods and [https://www.rnz.co.nz/news/national/484213/widespread-damage-cyclone-gabrielle-in-pictures

Cyclone Gabrielle] in 2023.

“Three months on, we continue to see claims lodged and we encourage anyone who still needs to make a claim or is feeling overwhelmed about their claim to get in touch with FMG,” the spokesperson said.

“We can see that the wait for repairs in some cases will mean it takes people a while to get back on their feet.”

Insurance claims did not reflect the full extent of the damage and disruption experienced by communities, FMG said.

A number of farmers have told RNZ they discovered in the wake of the storm their insurance did not cover damaged fencing or fallen trees.

FMG said it was too early to know how this month’s heavy rain across the north would compare.

IAG – which operates the AMI, NZI and State insurance brands – said it had received 5000 claims relating to October’s storm.

The majority – about 3600 – were from customers in Southland and Otago, it said.

AMI, State and NZI executive general manager Steph Ferris said that included smashed windows and doors, blown away roofs and sheds, and spoiled food as a result of power outages.

Tower Insurance said it had received 996 claims with 330 lodged by customers in Southland and 200 in Otago.

Head of natural disaster response Lisa Maxwell said the majority of claims were for minor damage and more than 650 claims had been settled.

This week a logging contractor in Clutha District told RNZ there were more than 150,000 tonnes of trees still on the ground at private properties three months on from the storm.

Clutha District Council said the cost of repairing damaged community amenities had climbed to $991,000.

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Source: Radio New Zealand

The ongoing high costs of living are prompting some families to turn to backyard killing of animals.

There’s also a claim that New Zealand’s food safety rules disproportionately affect Pasifika and other migrant communities.

Carolyn Press McKenzie from animal charity Helping You Help Animals (HUHA) says it’s noticed an increase in calls to rescue animals at risk of being slaughtered illegally.

Press McKenzie was responding to First Up‘s story on the sale of horse meat pies, which had been pulled from pie warmers after it was revealed the meat hadn’t been bought from a regulated abattoir. The pies had gone viral on social media, and were particularly popular with Pasifika communities.

Press McKenzie said HUHA was itself caught out after rehoming a pet cow.

“Somebody went through the process with us, we did home visits, passed the check, everything seemed very above board,” she told First Up. “The person was chatty and engaging, pretended to absolutely love the cow and then we found out they’d slaughtered it and eaten it.”

On another occasion police intervened when a wild goat had been hog tied and hung upside down from a tree.

Press McKenzie said it was also getting harder to rehome animals in the current economic climate. Feeding and caring for a pet was becoming a luxury many couldn’t afford.

“It’s pretty bad out there. There’s more animals being born into situations where they’re not being cared for correctly but shelters don’t have the homes to put them in.”

Meanwhile, Tongan community advocate Melino Maka said the recent decision by a Pakuranga bakery to withdraw its horse pies should not be seen as an isolated incident.

The former food safty regulator told First Up that it was not just a compliance issue, but a consequence of a system that no longer educated ethnic communities about food safety.

Maka was concerned Pasifika and other migrant communities weren’t being adequately warned of the dangers of eating non-regulated meat. He said MPI has cut community education programmes.

“Everything relies on online, and most of our community don’t get access to that information,” he said.

He agreed that the cost of living was exacerbating the situation as many households struggled.

“The reality of the cost of living is having a real impact on people affording meat for their own consumption.”

Maka said meat sold as pet food at flea markets was often bought by members of the community with the intent of feeding the family.

“The pet food companies, they target the Pacific community and I often engage with them and ask them to label the meat or even put food colouring on it just to make the people aware of what they’re buying, but they just play around on the fringes.”

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Source: Radio New Zealand

Single older people are bearing the brunt of rising prices, and women may be particularly hard hit.

Data from last week’s CPI shows that over a five-year period, households comprised of single people aged over 75 had the highest level of inflation, up 27.2 percent, compared to a general rate of 25.3 percent.

Over two years, they had inflation of 7.8 percent compared to total inflation of 5.4 percent.

Those aged 70 to 74 had the next highest rate of inflation over five years, 1.8 percent higher than the overall level.

Over a two-year period, households of single people aged 65 to 69 had inflation of 6.3 percent.

Every age group of single people had a higher inflation rate than the overall rate over five years.

Economist Shamubeel Eaqub said it was because these households spent more of their money on essentials, which had experienced the biggest price increases.

“Inflation in recent years has been very focused on things like food, rates, insurance – those things take up more of the household budget.

“So the households who are spending more of their income on necessities have experienced more of it. The deflation was on things like buying TVs and stereos, stuff like that. Single older people aren’t buying many of those things.”

He said many of the costs of running a household were not reduced by only having one person in it.

“A single household is really expensive because you’re carrying all the rent, all the power, all those kinds of things that are more to do with the unit of house rather than the unit of people.”

One woman who contacted RNZ said she felt women were under more financial stress than their male counterparts. She estimated that having children had cost her $100,000 that would otherwise have gone into retirement savings.

“My brothers, in comparison, who did not take any time off to raise children, are much better off than me.

“Us women have given birth to and raised the generation of New Zealanders now in their 30s and 40s. We did this in the days before the widespread availability of full-time child-care by paid professionals.”

Eaqub agreed that older women were probably finding it tougher.

Women are reaching retirement with materially less in their KiwiSaver accounts than men.

Work by the Retirement Commission found that while there was not a lot of difference in how people aged over 65 felt about money, women were worse off. Just over half the women in its research had income below $30,000 a year compared to 42 percent of men.

It said women’s lower KiwiSaver savings were not because women were contributing less but because they earned less.

Older women were nearly twice as likely to live alone as men were and were reporting taking steps such as cutting down on food to save money.

Single older women were twice as likely to have experienced significant financial impacts due to the death of their spouse than men. Almost 40 percent of single women aged 65 to 74 said they did not feel at all confident about a financially comfortable retirement, compared to 25 percent of single men. But single women aged 75-plus were most likely to say they felt financially comfortable.

Eaqub said wage discrimination against women could compound over the lifetime to have an effect on their savings.

“Women, on average, earn less than men and take more time out of work. Time out of the workforce has quite a big impact on people’s lifetime incomes and lifetime savings.”

Liz Koh, from Enrich Retirement, said retirement was a struggle for women who were alone, or those in second relationships where finances were kept separate.

“It’s a well known fact that women earn around 10 percent less than men on average. This affects their KiwiSaver contributions and their ability to save. Women also have periods of time out of the workforce taking care of children and again, this impacts on retirement savings. Add to this the fact that women live longer than men, which means they need a higher level of retirement savings to avoid running out of money before the end of life.

“Women can be less confident investors, and a more conservative approach to investing can mean lower investment returns over the long term. On the other hand, women plan ahead and are receptive to receiving advice.

“There is a rather alarming trend, which is the number of women reaching retirement who do not own a home or who still have a mortgage. Separation and divorce combined with lower earning power are contributing factors to this situation. Owning a debt free home is essential for a comfortable retirement and those who are renting or still paying a mortgage struggle.”

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Source: Radio New Zealand

The Flight Attendants Association (FAANZ) says problems with Air New Zealand’s planes and services are creating extra headaches for staff working to look after passengers at 38,000 feet.

Flight attendants working aboard the airline’s B777 and B787 long range aircraft will stop work for three strikes on 11, 12 and 13 February.

The airline said it was looking to balance the contributions of crew members against the “challenging economic times” and international cabin crews had a unique work and compensation structure.

FAANZ president Craig Featherby said – despite months of bargaining and two rounds of mediation through the Ministry of Business, Innovation and Employment – Air New Zealand had been unable to present a satisfactory pay offer to international cabin crews.

“The company has offered a pay increase that would see crew just hit the living wage. With inflation continuing to bite, many flight attendants are concerned they’ll be back below a liveable wage within a short time,” Featherby said.

He said the airline was failing to prioritise its staff and passengers – leaving it up to crews to address problems, often at 38,000 feet in the air.

“Flights are repeatedly impacted by preventable issues: lack of catering and limited choice, missing equipment to effectively look after customers, inoperative seats, and broken cabin features, alongside higher than usual cancellations.

“Flight attendants, as the face of the airline, are constantly having to work around these issues and apologise to passengers who have paid premium fares to fly with the national carrier,” Featherby said.

He said the latest pay offers from the airline were asking flight attendants to work harder and give up hard-earned terms and conditions in their current contracts in exchange for any “meaningful improvement” in wages.

“The company is sending a clear message to those who represent its front-line – that they are undervalued, despite carrying the weight of the operation every day.

“Air New Zealand must recognise that flight attendants are integral to the airline’s success. They’re safety professionals and ambassadors for the company. It’s time the board and executive team realise that their front-line staff – on the ground, in the call centres and in the air – need real investment,” Featherby said.

E tū union assistant national secretary Rachel Mackintosh said many of the airline’s long range crews had been with Air New Zealand “for decades” and did not take striking lightly.

“Pay for flight attendants has not been good enough for a long time and they are really aware that they are the factor that makes the airline a great airline. They have been pushing Air New Zealand for a long time and this really is a last resort,” Mackintosh said.

Air New Zealand chief people officer Nikki Dines said the assertion that crews were paid below the living wage was not accurate.

She said the airline’s latest offer increased base salaries by a range of 4.14 percent to 6.41 percent.

“Their base salary provides a consistent income, regardless of the hours they fly. In addition to their base salary, cabin crew receive payments and allowances to recognise additional responsibilities, time away from home, and longer duties. They also receive further allowances to support them while they are away from home,” Dines said.

Dines said the airline would work to support customers and minimise disruptions as much as possible if the strikes went ahead.

“We’ll contact any affected travellers directly as soon as more information becomes available and encourage everyone travelling during this period to check their booking details are up to date and to sign up for our Travel Alerts service,” Dines said.

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Source: Radio New Zealand

The jobs market is showing early signs of improvement, according to BNZ, which it said should lead to lower unemployment by the middle of the year.

The latest unemployment statistics are due next week, but the most recent data from the September quarter showed the jobless rate at 5.3 percent – the highest level since late 2016.

BNZ head of research Stephen Toplis said monthly employment indicators showed modest growth, and Stats NZ’s fourth-quarter household labour force survey was also expected to show slight growth.

BNZ’s own employment report with jobs platform SEEK showed job ads up around 7 percent from a year ago.

“It will take a while before the unemployment rate drops, because it’s one thing seeing growth and people being hired, but it’s got to catch up with growth in the supply in labour.”

He expected the catch-up to happen “in a quarter or two”.

“Certainly mid-year, but there’s a difference between better and good,” Toplis said. “For a lot of people who are currently facing unemployment, it’s not clear that the jobs that will be created are going to be consistent with the skillset that they’ve got.”

He also noted there were many households already in work, but looking for more.

“We know that the household sector is struggling, so if you can’t get pay increases you work more hours, so there’s an awful lot of people.”

Economic recovery and weak US currency help Kiwi dollar

The Kiwi dollar is often called the “flightless bird” in financial markets, but its recent performance has been anything but.

Since the start of the year the dollar has flexed its wings, becoming the best-performing major currency against the US dollar.

Westpac head of New Zealand strategy Imre Speizer said the weakness of the US dollar was only half the story behind the NZ dollar’s recent strength.

The recession dampened investor appetite for the NZ dollar, but he said the economy bottomed in October and has improved steadily since then.

“The market has changed its tune on this, and it’s recognised the economic recovery is well in motion, and is likely to persist for the rest of the year,” Speizer said.

“It’s now one of the choice destinations for going long in currencies.”

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Source: Radio New Zealand

Kiwi Property is selling ASB North Wharf building in Auckland’s Wynyard Quarter to Precinct Pacific Investment for $205 million.

The sale price represented a 3.3 percent discount to the September 2025 book value, and included Kiwi Property’s commitment to complete $2.2m of capital works to the property.

Precinct will be responsible for any additional expenses associated with the extension of the 15-year lease to ASB.

Precinct chief executive Scott Pritchard said the purchase of ASB North Wharf aligned with its strategy for investments in high quality, well located commercial property.

“This is a strong endorsement of the Wynyard Quarter precinct, and we look forward to working with ASB as they refresh their premises to reflect their workforce’s needs,” Pritchard said.

Kiwi Property chief executive Clive Mackenzie said last year’s extension of the ASB lease to 2040 helped to position the asset for sale.

“The sale of ASB North Wharf is a significant milestone for our capital recycling programme and is the third property transaction we have agreed in the last three months,” he said.

“Our balance sheet is now strongly positioned to support growth, aligning with a property market that is showing clear signs of recovery.”

He said the proceeds of would be reinvested into further growth initiatives, including potential acquisitions and development at Kiwi Property’s key mixed-use assets.

Completion of the sale of ASB North Wharf was subject to the consent of the Overseas Investment Office, with settlement expected in the first half of 2026.

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Source: Radio New Zealand

Cosmetics retailer Mecca is likely to be able to shake off any ill will created by customers disappointed with its loyalty programme and discounting, experts say.

Newsroom reported Mecca was apologising to customers after they were sold products up to a decade old during Boxing Day sales, and an “extra beauty treat” for people who reached a certain level of spending turned out to be a tote bag that transferred dye on to some people’s clothes.

Gemma Rasmussen, spokesperson for Consumer NZ, told RNZ’s The Panel she would not consider a tote bag to be a beauty treat.

“We think Mecca has potentially been a bit misleading and could have breached the Fair Trading Act as well,” she said.

She said Mecca shoppers tended to be “pretty dedicated”. “If you get an email saying spend more, a treat is coming, it’s hooking people in and pretty deceptive marketing.”

Bodo Lang, a marketing expert at Massey University, said reward schemes like Mecca’s could be a powerful driver of customer acquisition and long-term loyalty.

“Which is why so many major retailers invest heavily in them. Think Air New Zealand Airpoints, AA Smartfuel, or loyalty programmes from banks, credit card providers, New Zealand grocery retailers. Even local shops use them to secure a greater share of wallet.

“But when a rewards programme delivers a disappointing experience, especially one that violates basic consumer expectations, such as offering products manufactured more than a decade ago, it can harm brand trust and make shoppers think twice about returning. Trust is hard to build and easy to lose.”

But retail consultant Chris Wilkinson, of First Retail Group, said Mecca’s scheme was strong.

“Mecca’s scheme is a big draw for customers and the brand is well known and enjoyed for its rewards and giveaways – particularly younger consumers who are entering the world of cosmetics and fragrances.

“These schemes, like Farmers Beauty Club, are popular – especially as these products are expensive so any potential saving or ‘value add’ are sought after and often the tipping point in terms of making a purchase.

“Mecca’s scheme introduces new products and playfully encourages its customers to experiment with their beauty regimes – reflective of its predominantly younger audience.”

Wilkinson said its success was noticeable with an expansion of store numbers.

“In all other world markets category leader Sephora ‘owns’ this space, whereas in Australasia, Mecca dominates and Sephora has been retreating.”

He said the value of free gifts in the sector had been a contentious issue for a while.

“However the brand does have some pretty strong goodwill and a store experience that continues to evolve and engage – new stores, new products and ‘hot’ brands like Charlotte Tilbury, so I don’t think goodwill will too badly affected – maybe only till the next ‘freebie’ message arrives in customers inboxes.”

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Source: Radio New Zealand

Pay-TV provider Sky has expanded its content partnership with US media giant Paramount.

Sky said the partnership would bring premium US drama, procedurals, kids and comedy content to Sky and its Neon streaming audiences.

“Paramount’s Yellowstone was a standout for Sky customers in FY25, and this partnership ensures we build on that success by securing the shows that matter most,” Sky chief executive Sophie Moloney said.

Moloney said the deal represented a “significant step” in its updated entertainment strategy, with data-driven focus on delivering content.

“We know what our customers watch and value, and we’re building on those insights to curate the content that resonates most with our audiences,” she said.

The deal came into effect immediately, and included exclusive access to shows from Showtime, Paramount + and CBS for New Zealand viewers.

Over the past year, Sky announced a number of major content deals, particularly in sports.

In October, it secured exclusive Olympic Games rights, and prior to that it extended its Formula 1 and NZ Rugby deals.

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

LiveNews: https://nz.mil-osi.com/2026/01/27/sky-tv-partners-with-us-media-giant-paramount/