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Appointments – DING RETURNS TO GUARDIANS IN NEW INVESTMENT ROLE

Source: Guardians of New Zealand Superannuation

The Guardians of New Zealand Superannuation, manager of the $90 billion NZ Superannuation Fund, has appointed Qing Ding to the newly-created role of Head of Portfolio Strategy and Research.

Ding rejoins the Guardians from ANZ Investments, where she was Head of Asset Allocation. During her previous time at the Guardians, Qing worked in the Tactical Credit and Asset Allocation teams, and was a key contributor to the 2020 review of the Guardians' Reference Portfolio.

She had earlier worked as a Senior Investment Analyst at both the Government Superannuation Authority and Westpac NZ, having started her career at AMP Capital Investors.

Guardians Co-Chief Investment Officer Will Goodwin says Ding's job will be to help ensure the Fund's investment decisions fully consider current market conditions as well as the Fund's long-term beliefs, structural advantages and investment objectives.

“Asset allocation is every investor's most important decision. Qing's skills and experience will help us to construct the right portfolio to meet our mandate and continue to deliver strong returns for all New Zealanders over the long run,” Goodwin says.

“As a member of the Investment Leadership Team, Qing will make an important contribution to the future strategic direction of the Investment Group and to the performance of the Fund.”

Ding says she is looking forward to the challenge of her new role, and to again being part of the Guardians' investment team.

“I made some very good friends at the Guardians. It will be great to be working alongside them again.”

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PSA calls for review of Law Commission President appointment

Source: PSA

The PSA is calling for an independent review of the appointment of the new Law Commission President after revelations Hon Judith Collins was appointed without any recruitment process, selection panel or consideration of rival candidates.
“This is a concerning breach of good practice for appointments to independent institutions and we call for an independent review,” said Duane Leo, National Secretary for the Public Service Association Te Pūkenga Here Tikanga Mahi.
“Judith Collins was the only person considered for this role – there was no contestable process, no advertising, no shortlisting. It amounted to a simple Cabinet confirmation.
“This is not a reflection on Judith Collins' credentials, but without a proper process, how can New Zealanders have confidence the best person was appointed?
“There are many highly qualified legal experts who were denied any chance to apply. This is a pivotal role in our legal system – one that brings an independent lens to important legal issues – and it merits a thorough, transparent selection process.
“The irony is stark. Just this week in Parliament, as Public Service Minister Judith Collins spoke about the Public Service Amendment Bill, saying 'This bill reaffirms the principle of merit-based appointments… We're strengthening the Act to make sure that the best person for the job is the one who gets it, not the most familiar or the easiest option but the person with the right skills and experience to deliver.'
“What's good for the goose should be good for the gander. The Government can't lecture public servants about merit-based appointments while ignoring these very principles when rewarding one of its own with a prestigious taxpayer-funded role.
“Cabinet guidelines require such appointments to follow good practice processes set out by the Public Service Commission. Those processes exist to protect against cronyism and ensure public confidence in our institutions.
“We note that Foreign Minister Winston Peters has previously stopped the appointment of former politicians to top diplomatic roles for exactly this reason – to maintain proper standards and avoid the perception of political rewards.
“This appointment sets a worrying precedent. The Law Commission's independence and credibility depend on public confidence that its leadership is above political influence.
“New Zealanders deserve better. They deserve transparency in how senior public roles are filled, and confidence that merit – not political loyalty – determines who gets these positions.”
The Public Service Association Te Pūkenga Here Tikanga Mahi is Aotearoa New Zealand's largest trade union, representing and supporting more than 95,000 workers across central government, state-owned enterprises, local councils, health boards and community groups.
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NZ property profits hold steady as length of ownership hits longest on record – Cotality

Source: Cotality

New Zealand’s property owners are holding onto their properties for the longest period since records began, as the trend of declining profit and more frequent losses for vendors stabilises.

Cotality NZ’s Pain and Gain Report for Q4 2025 shows 88.1% of residential properties resold for more than their original purchase price in the December quarter, broadly in line with 88.0% in Q3.
While the figure is still well below the peak of more than 99% recorded in late 2021, the latest result marks an end to three consecutive quarterly declines for profit-making resales.
Cotality NZ Chief Property Economist Kelvin Davidson said the figures suggest the market has entered a trough, which is consistent with how wider property values nationally have performed in recent months.
“Resale performance is still soft compared with the boom years, but the data suggests the downward drift has slowed and flatlined, and conditions are broadly holding steady,” Mr Davidson said.
“Property values have flattened out in recent months, and that stability is now flowing through to resale data. This has been a gradual downwards drift in resale performance since early 2022 rather than a slump, and almost nine out of 10 sellers are still making a profit when they trade.”
The national median resale gain in Q4 was $298,000, down from the late-2021 peak of $440,000 but still higher than anything seen prior to 2021. The median resale loss was $55,000, only slightly higher than in the September quarter.
As always, it’s worth keeping in mind that these gains, at least for owner occupiers, aren’t necessarily cash windfalls if they simply have to use all of that fresh equity for their next property purchase.
Hold periods hit highest level on record
Properties resold for a gain in Q4 had been held for a median of 10.1 years, the longest period recorded in the series dating back to the mid-1990s.
By contrast, homes resold at a loss had typically been owned for 3.9 years, which Mr Davidson noted placed many purchases close to the country’s most recent market peak.
“We haven’t seen a significant jump in the historical time ranges, but this hold period surpasses the previous high of 9.4 years, which was only set in the September quarter last year,” he said.
“This highlights the weakness of property values that has persisted since late 2021, which may be prompting some owners to hold longer as they look to maximise their capital growth. In other cases, it may reflect a quieter market and sellers are having to wait longer for a sale.”
Houses outperform apartments
Standalone houses continued to record a lower frequency of resale losses than apartments in Q4, with house resale performance broadly steady over the quarter.

Apartments remained more exposed to loss-making resales, reflecting smaller long-term capital gains and greater sensitivity to recent market conditions. Even so, Mr Davidson said there is little evidence of widespread distressed or forced selling.
“Apartments tend to feel market downturns more acutely, but the data does not point to sellers under pressure or fire sales occurring,” Mr Davidson said.
“The gap largely reflects long-run differences in performance rather than any sudden deterioration in demand for property types.”
Main centres show tentative improvement
Several main centres recorded small improvements in resale outcomes over the December quarter, helping underpin the national stabilisation.
Auckland continued to have the highest share of loss-making resales among the main centres at 17.4%, although this was down from Q3. Wellington and Tauranga also recorded modest easing, while Dunedin saw the sharpest quarterly improvement.

Christchurch remained the most resilient of the main centres, with 5.3% of resales made at a loss in Q4.
“We’d probably need another quarter or two of flatter results before calling a genuine turning point, but there are already tentative hints that resellers are starting to fare a little better in the main centres,” he said.
Outlook stable, not spectacular
New Zealand’s economic outlook, early signs of rising sales volumes and a tentative easing in listings may begin to support house price growth in 2026.
Mr Davidson said lower mortgage rates are likely to provide some support, particularly as housing market conditions become more settled.
“Lower interest rates should help underpin demand, but any lift in prices is likely to be gradual rather than a sharp rebound,” Mr Davidson said.
He cautioned that several more months of consistent sales activity would be needed before the downturn could be considered over.
“Conditions are improving at the margin, we’re seeing this in some of the main centres, and a stabilisation in value declines, but the data suggests we’re entering a period of stability rather than a boom” he said.

Notes:

The Pain and Gain Report analyses homes resold during the quarter, comparing the most recent sale price to the previous sale price to determine whether the result was a gross profit (gain) or gross loss (pain).
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Weather News – Fire and Emergency New Zealand prepares for forecast severe weather event

Source: Fire and Emergency New Zealand

Fire and Emergency New Zealand has deployed two Urban Search and Rescue teams to the North Island’s East Coast today.
Assistant National Commander Ken Cooper says this is in preparation for a severe weather event forecast for Tairawhiti and the Coromandel from this evening and through the weekend.
“Our deploying specialist teams are there to support our volunteer brigades and strengthen local capacity, helping communities stay safe and supported during this weather event.
“One team is prepositioned in Hicks Bay and the other at Te Araroa. Both teams are equipped with drones and rescue equipment,” Ken Cooper says.
“The wet weather is likely to increase the risk of landslides in already saturated conditions and we’re asking the public to stay alert and take care.
“Don’t travel unnecessarily and keep an eye on weather updates.”
Ken Cooper says preplanning is underway to support Coromandel communities.  
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Business Canterbury – Our moment is now: Private sector leads development of ambition for Canterbury

Source: Business Canterbury

Business Canterbury formally launched the Canterbury Ambition last night at its annual Back to Business event, a sold-out gathering held at the region’s brand-new Parakiore Recreation and Sport Centre.

Business Canterbury’s Chief Executive Leeann Watson says, “Canterbury is ready to lead, and we’re not waiting for government to tell us what our future should look like. The Ambition is a shared vision – led by the private sector and supported by local government – which seeks to lock in the confidence and momentum we’re seeing across our region right now.”

“Through conversations with both local government and business leaders, we quickly reached a consensus that the connection between our environment, innovative spirit, and affordable housing and lifestyle is what sets us apart and should underpin our growth story moving forward.”

“Announcing this piece of work in a room full of bold thinkers and doers felt incredibly fitting. The energy in the room spoke to the ambition and optimism building across Canterbury. We are delighted to have this work now live, and we’re looking forward to progressing it alongside the businesses and leaders who helped shape it.”

Where we are today is just the starting point for significant work ahead — creating a tangible roadmap and shared work across both the public and private sectors.

A summary document, a launch video and further information on the Canterbury Ambition is available at: https://www.businesscanterbury.co.nz/canterbury-ambition

Business Canterbury, formerly Canterbury Employers’ Chamber of Commerce, is the second largest Chamber of Commerce in New Zealand and the largest business support organisation in the South Island. It advocates on behalf of its members for an environment more favourable to innovation, productivity and sustainable growth.

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Household Economic Survey population rebase: Year ended June 2019 to 2024 – Stats NZ methods paper

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About the transition from the Household Economic Survey to the Household Income and Living Survey – Stats NZ methods paper

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EMA backs broad direction of new Health and Safety Bill – but warns key gaps must be fixed

Source: EMA

The Employers and Manufacturers Association (EMA) says the government’s new Health and Safety at Work Amendment Bill takes a constructive step towards a modern, risk-based system – but warns several significant issues must be addressed through the submission and select committee process.
EMA Manager of Employment Relations and Safety Paul Jarvie says a risk-focused framework is the right direction. However, there are flaws and inconsistencies that could undermine its intent.
“A modern, risk-based approach is different to what we currently have, but the current approach isn’t working. So it’s worth trying this – a framework successfully used in other jurisdictions around the world.
“We do have concerns about the proposed exemptions for smaller businesses (fewer than 20 employees), as size has no bearing on risk, and some of the proposed exemptions could create new problems rather than solving old ones.”
The proposed bill limits these businesses’ requirements to identify and manage critical risks. Businesses with more than 20 workers, however, would continue to be responsible for managing all risks, not just critical ones.
However, the greatest cause of workplace injuries across all sectors is strains, sprains, and back injuries. These would not meet the critical-risk criteria and therefore would not be required to be identified or managed.
Jarvie says this creates a problematic disconnect.
“It’s vital that businesses collect all this data – for example, incident and near-miss reports – to understand what is potentially going to happen next. Low-level injuries can often help identify a more significant issue. Workplace violence, fatigue, and stress are other examples of issues employers need to identify and manage but which would not meet the critical-risk criteria,” he says.
“Creating a distinction between a small business and a large business doesn’t make any sense when both could have the same risks and injury profiles.”
Another challenge is allowing other legislation to override health and safety requirements if those duties are already covered elsewhere.
Jarvie says this creates uncertainty and could lead to unintended consequences.
“We already see conflicting requirements between agencies – for example, between land transport rules and health and safety guidance. Without clearer definitions, the bill risks widening those gaps.”
The EMA strongly supports the bill’s proposed industry-led Approved Codes of Practice (ACOPs) and its clearer distinction between governance and operational duties.
However, Jarvie says the absence of draft regulations could add confusion.
“We urgently need regulations to support the current Health and Safety at Work Act. It’s critical that we see them and that they align with and direct the bill’s intent.”
Jarvie says the success of the reforms will rely on a well-resourced, modern regulator that works collaboratively with business, similar to the Swedish system.
“Employers need confidence that they’ll receive consistent, practical advice. Without that, the risk-based model won’t deliver the improvements we all want.”
“Overall, we support the Bill’s intent,” Jarvie says. “But several significant issues need to be addressed to avoid unintended consequences. If we get this right, it will help New Zealand finally shift its stubborn health and safety performance.”
The EMA will continue reviewing the legislation in detail and will provide further guidance to its members in the coming weeks.
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Banking Ombudsman puts property partnerships under the spotlight this Valentine’s Day

Source: Banking Ombudsman Scheme

12 February 2026 – Partnering with friends or family members can be a great way to get on the property ladder, but it can come with risks, warns the Banking Ombudsman.
Nicola Sladden said a recent dispute investigated by the scheme was a timely reminder for people buying property with others to have a firm understanding of their rights in a partnership.
“Shared financial arrangements can work well when everyone is in agreement about goals and timeframes. But problems can arise when circumstances unexpectedly change,” said Ms Sladden.
“When relationships end, joint accounts, loans and partnerships can become tricky. It’s crucial to understand how your accounts are set up, and what your rights and obligations are. This knowledge can prevent a difficult situation from becoming even more stressful.”
In 2008, Sonia helped her son Nicholas and his wife Laura buy a home. The three formed a partnership to buy the property and jointly borrowed $320,000 from the bank.
When Nicholas and Laura separated in 2023, Sonia and Laura wanted to sell the property, but Nicholas told the bank they were in disagreement about what to do. The bank then refused to act on any instructions from the borrowers until the dispute was resolved. It also refused Sonia’s offer to repay the loan in full so the mortgage could be discharged.
The Banking Ombudsman scheme considered the bank had acted wrongly in refusing to discharge the mortgage. The loan terms allowed any of the three borrowers to repay the loan. Under section 97 of the Property Law Act 2007, a mortgagor has the right to repay a mortgage in full and “redeem” the property. The disagreement between the borrowers did not affect the partnership’s ability to give instructions to the bank because Sonia was able to pass resolutions without the others’ agreement and therefore instruct the bank on the partnership’s behalf.
The bank offered Sonia $10,000 to resolve her complaint, an offer she accepted.
Ms Sladden said the scheme’s guide on relationship breakdowns and banking recommends banking customers:
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Privatisation – Te Whatu Ora’s embarrassing U-turn over proposed car park plan – NZNO

Source: New Zealand Nurses Organisation

Te Whatu Ora needs to go back to the drawing board and prioritise worker safety after reversing plans to charge hospital workers market rates for car parks, NZNO says.
Tōpūtanga Tapuhi Kaitiaki o Aotearoa NZNO delegate and Christchurch health care assistant Al Dietschin says NZNO members were angered they weren’t consulted on the draft policy.
“Last year there were several shocking attacks on hospital health workers forced to walk to their cars because they can’t park at or near their workplaces. This includes a Palmerston North nurse being carjacked and a Christchurch nurse being left with a concussion.
“Our members provided robust feedback that charging health workers market rates for car parks was not the answer and would leave those unable to pay up to $100 a week even less safe.
“This is an embarrassing U-turn for Te Whatu Ora, but it is heartening they have listened to our members. Te Whatu Ora now has a chance to get this right and consult on and draft a policy that makes car parking for health workers safe, reliable and affordable,” Al Dietschin says.