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Property Market – Investors are back and they’re paying less for property than last year – Cotality

Source: Analysis from Kelvin Davidson, Cotality NZ Chief Property Economist

Overall buyer trends remain consistent

Many of the longer-term patterns in Cotality’s Buyer Classification data have continued in recent months. Relocating owner-occupiers (‘movers’) remain more cautious than usual, while first home buyers (FHBs) are still active at elevated levels. Mortgaged multiple property owners (MPOs) are also making a steady comeback.

This Pulse focuses on mortgaged MPOs – including investors – who have been returning to the market over the past year, encouraged by several regulatory changes including the shorter Brightline Test, reduced deposit/LVR requirements (from mid-2024), and the full reinstatement of mortgage interest deductibility from 1 April 2025.

Lower mortgage rates have added further support, reducing the cashflow top-ups out of other income that are typically needed for investment purchases.

What are mortgaged MPOs buying and paying?

So far in 2025, mortgaged MPOs nationally have paid a median of $759,000, slightly down from $770,000 in 2024. That’s higher than the $700,000 median first home buyers have paid (up from $695,000 last year). Movers have paid $880,000 this year compared to $870,000 in 2024.

The small dip in the MPOs’ median price isn’t because they’ve shifted to cheaper properties. In fact, their share of standalone house purchases has edged up from 66% last year to 67% in 2025, still below FHBs and movers, where standalone dwellings account for 75% of activity each for the same period.

New builds remain a significant part of mortgaged MPO activity. This year, they account for around 30% of the new-build market, only marginally lower than 31% in 2024 but still well above the 25% share in 2020, before Labour’s property tax changes.

New-builds continue to appeal because they’re exempt from LVR and DTI restrictions, even though some earlier tax benefits have gone. The trade-off for investors is that new-builds generally come with higher purchase prices and less scope to create gains through renovation.

A broad-based upturn in demand

The share of purchases by mortgaged MPOs has lifted from cyclical lows of around 22% in 2022–24 to nearly 24% in 2025. While first home buyers still dominate in Wellington, investor activity has strengthened across the other main centres over the past 12–18 months, reaching close to 29% in Hamilton, 27% in Christchurch, and 26% in Auckland. Tauranga and Dunedin have also recorded higher investor presence.

A similar trend is evident outside the main centres. In Gisborne, MPOs’ share of property purchases has jumped to 30% this year from 23% in 2024, while Invercargill has risen from 20% to 27%. Rotorua also has a higher share than the national average at 28% alongside Hastings which has climbed to 25% from 21% in 2024.

The return of ‘Mums and Dads’

Analysing the data by portfolio size shows the recent increase in MPO activity has come entirely from smaller players, either new investors who own two properties (e.g. their home and one investment) or those with a small portfolio already, of up to three investment properties.

There’s no set definition of a ‘Mum and Dad’ investor, but the data suggests that the smaller buyers are driving wider activity. With potential top-up costs falling many appear to be using equity in their own home or across their existing portfolio of rental dwellings to step into the market.
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Advocacy – Peters critical of extremist Zionist MPs – PSNA

Source: Palestinian Solidarity Network Aotearoa (PSNA)

 

PSNA says Foreign Minister Winston Peters is quite correct to identify Israeli-supporting members of parliament as ‘extremists’.

 

Peters has made a ministerial statement in parliament today where he defended New Zealand’s non-recognition of Palestine, condemned ‘extremists on both sides…including those in this House’ and claimed there was ‘violent targeting of politicians’ private homes’.

 

Palestine Solidarity Network Aotearoa Co-chair, John Minto says he would be curious to know which Israeli-supporting parliamentary colleagues Peters is accusing of having ‘fallen into a black hole of irrationality and senselessness’ and ‘preen hysterically and monomaniacally’.

 

“MPs are either critical of the Israeli genocide, or keeping their mouths shut out of embarrassment.  But there seems to be some MPs who think it is possible Peters can be more supportive of Israel, and are privately giving him a hard time over it.”

 

“We are also curious about what Peters means by ‘violent targeting of private homes by some protesters’.  He seems to have inflated one incident, which we have condemned, into an imagined epidemic.”

 

“People are frustrated at seeing the worst and most transparent crime of the twentieth century being brushed aside by our government.”

 

“Two million people are under a violent blockade, which compares with the Nazi siege and starvation of Leningrad in World War II.  Obliteration of Gaza is much more of a concern than a single broken window.”

 

“The thousands of New Zealanders who are marching week after week to call for the implantation of international law, protest Israeli genocide and call for sanctions against it, are not extremists.”

 

“They endure and risk increasingly frequent physical, and rarely reported, attacks and threats by violent Israelis and their supporters.  They werely want a just and enduring end to the cycle of violence which Peters is so critical of.”

 

But Minto says Peters’ statement of political demands for ending the conflict falls far short of what is necessary for breaking that cycle.

 

“He’s called for a negotiated ceasefire, and praised the Trump Plan as having Muslim countries signing it off.”

 

“For starters, there was no Palestinian participation at all in drafting the plan.  It was originally negotiated between the US and leading Muslim countries.  Trump then took it to Israeli Prime Minister Netanyahu who rewrote it.  It’s much less a plan and more a list of take-it-or-leave-it demands.”

 

“There can be no peace without a complete Israeli military withdrawal.  Peters makes no mention at all about that.”

 

“He cites the need to release hostages held by Hamas, which Hamas has agreed to several times.  But Peters fails to mention the thousands of Palestinians hoovered up and tortured by the Israeli military and held in Israeli jails without charges.”

 

“The plan simply allows for continued Israeli ethnic cleansing, under the guise of some international body to provide legitimacy,” Minto says.

 

“It’s an historical circle.  In 1917, British General Allenby marched into Gaza at the end of World War 1, to become the British Empire proconsul, under an international mandate to set up a ‘Jewish homeland’, for immigrants from Europe.”

 

“More than a century later, Tony Blair, a former British Prime Minister and architect of the destruction of Iraq, will govern Gaza the same way and is on standby to arbitrate the competing real estate claims of Trump’s son in law, Jared Kushner, and Israeli expansionist Bezalel Smotrich.”

 

“Peters says he’s familiar with the history of the region.  If he is as informed as he says he is, then he would realise Israel’s true goals are land grabbing and ethnic cleansing more than peace, and he would not be so effusive in praising such disastrous and one-sided plans written by Israel.”

 

John Minto

Co-Chair PSNA

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Health – It’s bananas – Commerce Commission won’t step in to protect smallest general practices and their patients

Source: General Practice Owners Association (GenPro)

GenPro will continue to expose the gross unfairness of contracts imposed on general practices by Health New Zealand.

Wanting to force change to address the primary healthcare crisis, the General Practice Owners Association last year lodged a formal complaint that Health New Zealand is breaching the Fair Trading Act.

GenPro’s complaint to the Commerce Commission said general practices were effectively excluded from decisions crucial to achieving the best outcomes for the primary, urgent and mental health of New Zealanders.

However, the Commission decided that after a preliminary investigation it would take no further action, saying the majority of primary health organisation contracts fall out of its unfair contract term regime.

“While the Commission’s decision is disappointing, it doesn’t alter the fundamental issue which affects GenPro members and the healthcare of all New Zealanders,” says GenPro Chair Dr Angus Chambers.

“An unfair term is an unfair term regardless of the numbers of businesses affected. And the contracts imposed on us with minimal input are unfair. General practices are forced to accept funding levels with no negotiation by Health New Zealand and primary health organisations (PHOs).”

Dr Chambers acknowledged the Commission’s decision, which concluded that it couldn’t take further action because only approximately 80 general practice contracts with PHOs involve a sales turnover below $250,000 a year, which is the maximum threshold for small trade contracts in the Fair Trading Act.

“Ironically, if we’d been selling bananas rather than providing primary, urgent and mental health services, then most of our contracts would have been captured in the regime – the threshold for groceries is four times higher. This shows the folly of the very low ceiling in the Fair Trading Act for most businesses.

“GenPro is taking legal advice on next steps, noting it has limited options. We took this action because it is unfair, and ask the Commission to review its decision, which is to not investigate the unfairness affecting approximately 80 practices,” Dr Chambers says.

“We’re seeking advice because we believe that the Commission’s decision is based also on inaccurate assumptions – that the unfair terms are ‘required or expressly permitted’ by law.”

The General Practice Owners Association represents general practice owners to ensure that their population health services are appropriately supported and that their businesses are sustainable.
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Rural News – Canterbury farmers win fight to keep cops – Federated Farmers

Source: Federated Farmers

Federated Farmers says Canterbury Police has made the right call in scrapping its proposed district restructure today.
“This is a smart and pragmatic decision – and a huge relief for our rural communities,” Federated Farmers North Canterbury president Bex Green says.
“Farming families across Canterbury will be sleeping a little more soundly tonight knowing their local police will stay on the ground, where they belong.”
The decision follows weeks of strong pushback from Federated Farmers and rural residents after Canterbury Police proposed reducing staff in small towns and centralising operations in 24/7 hubs at Rolleston and Rangiora.
Federated Farmers helped lead the community response, organising public meetings in Culverden and Leeston, lodging formal submissions, and encouraging hundreds of residents to have their say.
“Our message was simple: don’t cut our cops,” Green says.
“You can’t replace a trusted local police officer who lives in the community with drive-in drive-out cops who live an hour away.
“When you live rurally, it matters so much to know you have a local cop who understands the area, knows the people and is part of the community.”
She says the original proposal struck at the heart of rural safety and wellbeing.
“Policing isn’t just about responding to crime – it’s about being visible, connected and part of the fabric of the community.
“That’s what keeps people safe and builds real trust.”
Green acknowledges Canterbury Police District Commander Tony Hill for listening to the feedback and ultimately making the right call.
“It takes courage to propose bold changes, but it takes real leadership to listen when communities say, ‘this isn’t right for us’.
“We appreciate that the district commander has heard the message loud and clear and acted on it.”
While the formal restructure has been dropped, Green says it’s important for Canterbury Police to continue working with rural residents to find practical ways to improve services without undermining local presence.
“We all want to see effective policing and good outcomes, but that can’t come at the cost of rural coverage.
“We’d much rather see investment in the amazing police officers already working here – not pulling them further away.”
Green says she greatly appreciates the work of Canterbury Police, and she hopes valuable lessons have been learned from the experience.
“I expect this won’t be the last time they propose a rural restructure, but I do hope this process has shown them that their approach wasn’t quite right.
“Next time, I think they will come out to the communities first to actually listen, understand, and work with us on what we need from our local police.”
Federated Farmers rural policing spokesperson Karl Dean says the decision is a reminder of the strength of local voices when communities stand together.
“This outcome shows the power of rural Canterbury and farming communities nationwide.
“When something threatens the safety and wellbeing of our families, we stand up and speak out. Today, that’s made a real difference.”
Dean, who farms in Canterbury, says the outcome should also send a clear message to New Zealand Police.
“The way Federated Farmers and Canterbury’s rural families pushed back on this proposal is a warning shot across the bow for police HQ.
“We are keeping a very close eye on rural policing issues and won’t be accepting cuts to rural policing in Canterbury or anywhere else in the country.
“Just because we have fewer people than the big cities doesn’t mean we should ever have to feel less safe or accept a lower standard of care.”
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CPAG research review urges Government to address structural problems in education, work and income policy rather than punishing 18-19 year-olds

Source: Child Poverty Action Group

Child Poverty Action Group (CPAG) is today releasing a new commentary: Children Can’t Eat a Promise: Rethinking the EducationtoEmployment “Silver Spoon” and three short evidence briefs on (1) uneven returns on tertiary education, (2) student indebtedness, and (3) labourmarket frictions. We do so in direct response to the Government’s announcement to means-test 18-19-year-old jobseekers through a new “Parental Assistance Test”.
The Government’s Securing the Future for Our Young People policy claims that young people under 25 on Jobseeker Support will spend an average of 18 years on a benefit. The solution then is to make it harder for 18-19-year-olds to access the benefit and move them into work or education. Child Poverty Action Group (CPAG) says this modelling tells only part of the story and risks blaming young people for structural problems in education, work, and income policy.
“Forecast like this speaks to the future we’re building for our rangatahi than their behaviours,” said CPAG Researcher Dr Harry Yu Shi. “The wider structure can be changed. These kind of forecast act as a red flag that the current settings aren’t working for low-income families and young adults, like housing, education and income support. Turning that around means fixing the system, not punishing the struggling individuals.”
CPAG’s new review, Children Can’t Eat a Promise, brings a different perspective to the education-employment pathway, often portrayed in policies as the road to a “silver spoon”. It draws attention to how hard it is for graduates to secure a job, especially one that matches their qualification and skills, let alone passion. Many remain in low-paid or insecure work, faces wage gaps based on who they are, and as a result may end up with a crippling amount of debt that delay important life milestones like home ownership and starting a family.
“Government messaging keeps repeating that education or a job is the best route out of poverty. On average that’s true – but averages hide who misses out,” said Dr Shi. “When the payoff from education depends on what you study, your gender, or your ethnicity, that’s not a personal failure. It’s a structural one.”
The report highlights that:
  • Nearly one in eight children in working households live below the poverty line after paying rent.
  • Māori and Pacific graduates earn significantly less than Pākehā peers even with similar qualifications.
  • New Zealand’s user-pays tertiary system shifts risk onto low-income families through student debt and high effective tax rates.
  • Students are borrowing a lot more money to keep up their cost of living, therefore “lay buying” their future.
Instead of tightening benefit access, CPAG calls for a “child-centred” policy reset that lifts family incomes and derisks education for low-income households. Key recommendations include:
  • Make work pay a family  wage by ensuring  Living Wage rates is the legal minimum and applied across public procurement and contracted services.
  • Raise children’s incomes  now through unconditional child components in Working for Families and fairer abatement settings.
  • Derisk study for  low-income families by increasing student allowances and making child-centred payments available regardless of study status.
  • Assess every major  policy through a child poverty lens to ensure changes improve, not erode, family stability.
“Education matters. Work matters. But neither will end child poverty unless every job pays enough to raise a family and every child is guaranteed a secure income floor”, CPAG Executive Officer Sarita Divis says. “Children can’t eat a promise – they need policies that feed them now.”
Notes (background): – Government statement: “Securing a future for our young people” (5 Oct). (The Beehive) – RNZ coverage of the policy and PM’s defence (5-6 Oct). ( RNZ)

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Transporting NZ – Online tool aims to reduce road freight emissions

Source: Ia Ara Aotearoa Transporting New Zealand

Road freight association Transporting New Zealand are announcing the launch of an online tool that aims to help the industry decarbonise.
The Green Fleet Self-Assessment Tool is a ten-question survey that allows transport businesses to estimate their emissions and identify opportunities to reduce them.
It will be made available after a Road Freight Decarbonisation Update in Auckland later this month featuring updates on Low Emission Freight Certificates, EECA’s Low Emission Heavy Vehicle Fund and more.
“This is a practical guide that enables operators to identify what they’re already doing to reduce emissions, and what more they could do,” says Transporting New Zealand Chief Executive, Dom Kalasih.
“For many businesses and ordinary Kiwis alike, a brand-new zero emission vehicle isn’t feasible just yet, but that doesn’t mean there’s nothing to be done.”
The survey outlines some actions operators can take, including:
– Fuel efficient driver training
– Route optimisation and backloading to reduce empty trips
– Preventative maintenance and regular servicing
“Not only do these strategies reduce emissions, but greater fuel efficiency reduces costs, which is imperative for operators in what is a highly competitive sector,” says Kalasih.
NZTA data has found there can be up to a 35 per cent difference in fuel consumption between efficient and inefficient drivers, demonstrating the cost savings to be made.
“Customer demand for greener business practices has been growing for years. But many of the more transformative zero emissions technologies for heavy vehicles are still in their infancy, and tight margins present a challenge to investment here.
“Transporting New Zealand hopes that our members and the wider industry will find value from this tool and use it to communicate their decarbonisation efforts with customers.”
The launch event will be held at TR Group’s premises in Auckland on the 24th of October. If you’re interested in attending please contact the Transporting New Zealand team at events@transporting.nz before Tuesday 14 October. 
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Advocacy – PSNA joins condemnation of attack on Peters’ home

Source: Palestine Solidarity Network Aotearoa (PSNA)

 

Palestine Solidarity Network Aotearoa has joined the condemnation of the attack on Winston Peters’ home.

 

Co-chair John Minto says it has not yet been clearly established that the attack was motivated as a response to Peters’ refusal to recognise Palestinian rights and sanction Israel for war crimes and genocide.

 

“If it was, then we can understand the frustration of someone who was outraged by Peters’ indifference to genocide.”

 

“At the same time a broken window cannot be compared with hundreds of thousands of Palestinians killed by Israel over the past two years and the 75 years of occupation, apartheid and ethnic cleansing which preceded it”

 

“But a physical attack on a home is wrong and does nothing to help achieve any change for the better in government attitudes.”

 

“Instead, it will be used by the friends of the Israeli Embassy who want to close down all protests in support of Palestine.”

 

“That’s what’s happening in the UK, and it’s part of the Netanyahu world playbook to divert attention from Israeli war crimes.”

 

“Peters regularly meets with Israeli supporters in this country and with the Israeli ambassador, who has praised Peters’ UN speech – the same speech which brought a deep sense of shame and betrayal to most of the country”

 

“Meanwhile Peters has refused to meet with Palestinian New Zealanders or their supporters.”

 

Minto says Peters’ attempts to blame protest organisers for inflaming tensions are hypocritical.

 

“Peters has built a political career out of dog whistle personal attacks on minority, vulnerable groups such as migrants. More than any other politician in recent years he thrives on exploiting community divisions for political gain.

 

“He was labelling anti-genocide protesters ‘bludgers’ a couple of days ago in Dunedin.

 

“And he should be in no doubt we will continue to be turning up at his political events to make our views known on the complicit support and political cover he is giving to genocide.”

 

John Minto

Co-Chair

Palestine Solidarity Network Aotearoa

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Girls speak out: report reveals dreams and dangers facing girls globally – World Vision

Source: World Vision

  • 84% of girls are hopeful for the future, but violence, poverty and inequality threaten their dreams
  • Conflict, insecurity, and violence are a part of daily life for one in five girls
  • A third of girls are worried about losing their education
On the eve of the International Day of the Girl (11 October), a new World Vision report highlights the hopes, fears, and daily realities of hundreds of girls in more than 50 countries.
The Dreaming Out Loud report reveals that one in five girls (21%) live under constant threat of general insecurity or war. From the classroom to conflict zones, girls described physical, emotional, and sexual violence that strips away their dignity and safety.
Girls in countries like Eswatini, Peru, Ecuador and Ethiopia reported high levels of gender-based violence. For many, simply walking to school can be dangerous. Each year, 60 million girls are sexually assaulted at or on their way to school – meaning that for millions, the simple act of trying to get an education carries the threat of rape or abuse. In some countries embroiled in conflict or with high crime rates, girls can face the constant fear of abduction or assault.
World Vision New Zealand Acting National Director, TJ Grant, says despite these challenging circumstances, 84% of girls feel hopeful about the future but this hope remains fragile.
“These girls dream of becoming doctors, engineers, leaders and changemakers, but their futures are still too easily derailed by poverty, violence, or discrimination.”
Grant says education remains a cornerstone of girls' aspirations, with nearly three-quarters referencing about the value of school. However, one in three girls (33%) worry their education will be cut short due to early marriage, economic pressure, or cultural norms.
In West and Central Africa – the regions with the highest child marriage rates – one in three girls marries before age 18.i Today, an estimated 640 million women were married as children.ii
Hassana, 16, from Niger says: “I’m taking an exam this year, and what scares me is the fear that my parents will decide to marry me off if I fail.”
Viola, 16, from South Sudan, adds: “If you are a girl and they have not taken you to school, your father can force you to marry someone who has more cows.”
Grant says interrupted education is not just a personal tragedy for each girl; it’s a societal loss. The global cost of not educating girls is staggering – between $15 and $30 trillion in lost productivity and earnings, according to the World Bank.
Violence is also putting girls in peril. One in five girls reported that violence, conflict or insecurity was part of their daily reality. Many girls described sexual harassment, assault, and abuse as the worst parts of being female.
“The hardest thing about being a girl is being exposed to bad behaviour, including harassment and rape,” said Zaynab, 14, from Lebanon.
Grant says economic pressures often compound these risks. Girls are pulled out of school to help at home, forced into early marriage, or exposed to exploitation as families struggle to survive.
He says what’s most striking from the report is not only the hardship girls endure – but the resilience they show. More than 40% of respondents dream of becoming doctors, teachers, engineers or leaders, and 71% believe in the power of female leadership.
“A girl can be an amazing president or leader. Not just because she’s strong, but because she leads with heart, empathy, courage and vision,” said Alesia, 14, from Albania.
“Even when we’re underestimated, we rise,” added Anika, 16. “There’s something powerful about being soft and strong at the same time.”
Grant says World Vision is striving to improve future opportunities for all girls and is calling on governments, donors, and communities to:
  • Guarantee 12 years of quality education for every girl
  • Strengthen child protection systems to prevent and respond to violence
  • Engage men, boys and faith leaders to shift harmful gender norms
  • Address economic barriers through livelihoods and social protection
  • Expand access to sexual and reproductive health education
“Girls are already dreaming of a better world. It’s time we listen and act,” he says.
World Vision’s child sponsorship programme helps to give girls living in some of the world’s toughest places support, education and opportunities. To sponsor a girl visit:
Notes
This report provides a “state of the world's girls” in 2025. World Vision surveyed 432 adolescent girls across 51 countries spanning Africa, Asia, Latin America and beyond between March and August 2025. We asked girls about their hopes, fears, dreams, and what being a girl means in their communities today.  Through interviews, video diaries and surveys, the study explored girls’ hopes, fears, and lived realities, supported by UN and World Bank data. While not nationally representative, the report offers a unique snapshot into the experiences and aspirations of girls living in diverse contexts – from conflict zones to high-income countries.
Report available to download here:
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Legal Issues – ASB and plaintiffs to settle CCCFA class action

Source: ASB

ASB has agreed to pay $135,625,000 to settle a class action against the bank for alleged breaches of the Credit Contracts and Consumer Finance Act (CCCFA).

The class action relates to disclosure documents that ASB was required to provide to customers who had requested changes to their lending arrangements between 2015 and 2019 and whether one potential interpretation of the CCCFA legislation was the correct one.

CEO Vittoria Shortt says, “The settlement brings to an end four years of legal proceedings and provides certainty for us and for our customers. The agreement we’ve come to is a pragmatic way to settle this matter.”

“We continue to strongly support the CCCFA Amendment Bill currently before Parliament’s Finance and Expenditure Select Committee, which will bring clarity to this confusing piece of legislation.”

As part of the settlement, ASB makes no admission of liability or wrongdoing.

The settlement is subject to approval by the High Court.  The Court process may take several months. ASB and the plaintiffs will seek directions from the Court on the process for communicating with class members about the settlement. At this stage class members don’t need to do anything and will receive further information in due course.

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Dwelling and household estimates: September 2025 quarter – Stats NZ information release

Dwelling and household estimates: September 2025 quarter – information release

7 October 2025

National dwelling and household estimates are used for many purposes including planning, policy formation, business decisions, and as ‘bottom lines’ in the calculation of market coverage rates.

Key facts

At 30 September 2025, the estimated number of:

  • private dwellings is 2,133,400
  • households is 2,050,000.

Visit our website to read this information release: