Latest / Early Edition with Ryan Bridge / Full Show Podcast: 02 September 2025

Transcript

Full Show Podcast: 02 September 2025 · Early Edition with Ryan Bridge

0:01
Speaker 1: The issues, the interviews and the insight. Andrew Dickens on
0:05
Speaker 1: an earlier is show with One Root Love where You
0:08
Speaker 1: Live News Talks.
0:09
Speaker 2: It'd be well, good morning, welcome to Tuesday. Thank you
0:13
Speaker 2: for joining us. I'm Andrew Dickinson for Ryan Bridge, who's
0:15
Speaker 2: on holiday on the program today. Another report criticizes the
0:19
Speaker 2: number of ministries in New Zealand. So how many public
0:22
Speaker 2: servants or how are public servants feeling about the whole
0:25
Speaker 2: idea of cutting down the number of ministries? Will have
0:27
Speaker 2: the PSA on in about five minutes time. Interest rates
0:30
Speaker 2: are falling and mortgage lending is up. So why is
0:33
Speaker 2: our housing markets still in limbo? That story in ten
0:36
Speaker 2: and tomorrow is crunch day for water. I'll fill you in.
0:39
Speaker 2: Are things getting better or are we stuck in the
0:42
Speaker 2: same funk? And the big story the government has loosened
0:45
Speaker 2: the foreign buyer band, meeting that foreigners with the Golden
0:47
Speaker 2: Visa will now be able to buy a home with
0:49
Speaker 2: more than five million dollars. But will this attract the investors?
0:52
Speaker 2: Stuart Nash will be joining me on how to sell
0:54
Speaker 2: the idea to foreigners just before six. We'll have correspondence
0:57
Speaker 2: from all around New Zealand. Don Demaio's US from Australia
1:01
Speaker 2: and you can have your say on the text. The
1:03
Speaker 2: number is ninety two ninety two. A small charge does apply.
1:06
Speaker 2: It's seven minutes after five.
1:09
Speaker 3: The agenda.
1:10
Speaker 2: It's Tuesday, the second of September. More than eight hundred
1:13
Speaker 2: people have been killed and thousands others injured after a
1:16
Speaker 2: six magnitude quake hit eastern Afghanistan. Offici'll say most deaths
1:21
Speaker 2: are in the Kunar province and are warning the death
1:23
Speaker 2: toll could climb as entire villages lie in ruins.
1:28
Speaker 4: The area as described is really really difficult. The terrain
1:33
Speaker 4: is mountainous. This is a place where homes are almost
1:37
Speaker 4: built on top of each other in a sort of telespace.
1:40
Speaker 4: So when an earthquake, if this magnitude happens, these homes
1:43
Speaker 4: are tumbling on top of each other. And because it
1:45
Speaker 4: was so late a pint people wear up their homes.
1:49
Speaker 2: Now to China we go and put in a mahdi
1:51
Speaker 2: had their meeting at the summit in Beijing. By the way,
1:54
Speaker 2: Kim Jong un is on his way in an armored
1:57
Speaker 2: train for Beijing's big military parade tomorrow.
2:00
Speaker 5: With this one army between China, India and Russia. Mister
2:05
Speaker 5: Mardy is showing that he cannot be pushed into a
2:08
Speaker 5: corner by the US and is answering back. And that's
2:11
Speaker 5: what his supporters are saying.
2:13
Speaker 2: And the summer's Vladimir Putin claimed he's reached understandings with
2:17
Speaker 2: Donald Trump on ending the war in Ukraine after talk
2:20
Speaker 2: to Alesca last month.
2:21
Speaker 3: He is saying that he welcomes China and India in
2:24
Speaker 3: their efforts to bring it to an end, but underlining
2:27
Speaker 3: again that as far as he's concerned, that has to
2:29
Speaker 3: be on his term. So totally maximalist position from Russia.
2:33
Speaker 2: And I'll have more on this big week in China
2:36
Speaker 2: in Beijing in just a few moments time. And finally,
2:39
Speaker 2: it's been forty years since the discovery of the Titanic
2:43
Speaker 2: at the bottom of the Ocean where so the Titanic,
2:59
Speaker 2: the un thinkable ship, encountered an iceberg on the fourteenth
3:02
Speaker 2: of April nineteen twelve on its first ever voyage. It
3:05
Speaker 2: was found in the Atlantic seventy three years later, on
3:08
Speaker 2: this day in nineteen eighty five, I went in my room.
3:13
Speaker 2: You knew something had happened, and one man said, look
3:17
Speaker 2: at that that's an iceberg and it's a waba.
3:23
Speaker 1: The first word on the News of the Day early
3:25
Speaker 1: edition with Andrew Dickens and one Root Love Where you
3:29
Speaker 1: Live News Talks, I'd be.
3:31
Speaker 2: It's ten out to five. I don't know about you,
3:33
Speaker 2: but I am just a little bit unsettled by this
3:35
Speaker 2: Shanghai Cooperation Organization's summit that's been happening over the weekend
3:38
Speaker 2: and into this week. President z of China has been
3:42
Speaker 2: welcoming leaders from around Asia in sixteen leaders of countries
3:45
Speaker 2: they call dialogue partners. And the point of all of this,
3:49
Speaker 2: of course is to talk trade and to talk partnerships,
3:52
Speaker 2: but it's also to challenge the US led summits like
3:54
Speaker 2: NATO or G seven talks, to prove that nations excluded
3:59
Speaker 2: from those organized stations have something to say about the
4:01
Speaker 2: world as well. The role call of those attending the
4:05
Speaker 2: summit is a real rogues gallery. We've got putin from
4:09
Speaker 2: Russia there, Madi from India, one from Turkey, and of
4:12
Speaker 2: course the Chinese representatives of an enormous block of the
4:15
Speaker 2: world's population, and all with a bit of a beef
4:17
Speaker 2: with America in the west. Right now, now, North Korea
4:20
Speaker 2: is not there for the weekend, but Kim Jong un
4:23
Speaker 2: is attending the separate military parade in Tianaman Square in
4:26
Speaker 2: Beijing tomorrow. That's being held to commemorate the eightieth anniversary
4:29
Speaker 2: of the end of World War II. So that parade
4:32
Speaker 2: is going to see Putin and Ji and Kim Jong
4:35
Speaker 2: un all sitting there watching China's tanks and missiles and
4:39
Speaker 2: soldiers marching up and down Tianaman Square. That's not at
4:41
Speaker 2: all scary, is it. And you know this is going
4:44
Speaker 2: to drive Donald Trump absolutely crazy with jealousy because huge
4:47
Speaker 2: crowds will be there. It's going to be Kim Jong
4:50
Speaker 2: UN's first meeting with jig in over six years, and
4:54
Speaker 2: his first major international appearance with other world leaders like
4:58
Speaker 2: Putin since taking power back in twenty eleven. He is
5:01
Speaker 2: in from the cold, and China and India, well, they
5:04
Speaker 2: have been helping Russia fund the war in Ukraine. North
5:07
Speaker 2: Korea have been providing soldiers in the conflict. They're all
5:10
Speaker 2: having a big day out in Beijing. You know, it's
5:12
Speaker 2: kind of like a summit of the bad guys, and
5:15
Speaker 2: they're saying to the West, you no longer call the shots,
5:18
Speaker 2: And you can't help think that Donald Trump's gung host
5:21
Speaker 2: style of diplomacy that sees him thinking he can cut quick,
5:24
Speaker 2: easy transactional deals and stop wars cold seems to be
5:28
Speaker 2: having the opposite effect. Instead of stopping the bad guys,
5:32
Speaker 2: seems to be driving them closer together. Now, by the way,
5:36
Speaker 2: Helen Clark and John Key will be our representatives at
5:38
Speaker 2: this parade. They were invited. They're paying their own way.
5:41
Speaker 2: They think they were invited because they were involved back
5:43
Speaker 2: in the day in the New Zealand China Free Trade
5:45
Speaker 2: Agreement and to represent New Zealand after our involvement in
5:49
Speaker 2: the Pacific War. And Helen Clark thinks it's important to
5:52
Speaker 2: be an heir at things like this, and I agree,
5:54
Speaker 2: And I'll talk more about why this big parade is
5:57
Speaker 2: actually a real big deal for the Pacific a bit
5:59
Speaker 2: later on in the program. It's twelve minutes after five.
6:02
Speaker 2: So the New Zealand Initiative have been looking at just
6:04
Speaker 2: how many public servants we have, how many ministries we have,
6:08
Speaker 2: how bloated the whole bureaucracy is it is, and there
6:12
Speaker 2: is a war against public servants, and that's true, and
6:14
Speaker 2: we're trying to cut things down and rationalize things so
6:17
Speaker 2: how is the PSA who represents these people feeling about this.
6:21
Speaker 2: We're talking to them.
6:22
Speaker 1: Next on your radio and online on iHeartRadio early edition
6:28
Speaker 1: with Andrew Dickens and one roof Love where you Live.
6:32
Speaker 2: Used talk said being it is I point fifteen. How
6:35
Speaker 2: many ministries is too many? Will? A report out today
6:39
Speaker 2: says we have way too many? The New Zealand Initiative
6:43
Speaker 2: reckons we could easily cut over twenty departments and actually
6:46
Speaker 2: make our bureaucracy run smoother. So Flur fitz Simons is
6:49
Speaker 2: the PSA National Secretary and she joins me. Now, Helloflur,
6:53
Speaker 2: there we go, Flirt. Sorry the buttons wasn't working very well.
6:56
Speaker 2: Hello Flur, good morning. So we got eighty one minister
6:59
Speaker 2: report foit eight ministers, forty three departments, three times as
7:03
Speaker 2: many portfolios and nearly twice as many departments as comparable
7:07
Speaker 2: countries like Ireland. Surely this can be rationalized.
7:12
Speaker 6: Well, we don't object to the discussion about this, but
7:14
Speaker 6: I think you have to understand that it's taking place
7:17
Speaker 6: in a political context driven by the act Party. He
7:21
Speaker 6: David Seymour was very supportive of an earlier version of
7:24
Speaker 6: this report, and he's been consistent in saying we need
7:28
Speaker 6: to dismiss thousands more public servants and we need to
7:31
Speaker 6: move towards models of privatization. Now, I don't think that's
7:35
Speaker 6: going to find favor with New Zealanders, and I think
7:38
Speaker 6: it would be very dangerous for the delivery of public services.
7:41
Speaker 6: So there's a lot of red flags of this report.
7:43
Speaker 2: Do you really think it's just ACT Party and the
7:45
Speaker 2: ACT Party supporters that are a bit worried about the
7:47
Speaker 2: bloated size of our public service? Don't you think it's
7:50
Speaker 2: much more widespread?
7:52
Speaker 6: Well, when you said bloater, let's look at some of
7:54
Speaker 6: the proposals in this report. They, for example, suggest merging
7:58
Speaker 6: the Cancer Control Agency into the Ministry of Health. In
8:02
Speaker 6: New Zealand, we've had cancer advocates for years calling for
8:07
Speaker 6: an agency to hold our health system to accounts. They
8:10
Speaker 6: finally got it in the Cancer Control Agency. This report
8:14
Speaker 6: doesn't look at the value of that agency, the history
8:17
Speaker 6: of its creation, or the importance of its work. It
8:20
Speaker 6: simply looks at numbers. Now, when you do that, when
8:22
Speaker 6: it comes to something like public policy, it's actually very dangerous.
8:26
Speaker 6: But no, I don't think it's as simple as the numbers.
8:28
Speaker 2: Where is the go to for advocates when they say
8:31
Speaker 2: we've got to do something about cancer, to or just
8:33
Speaker 2: automatically say well, let's have another ministry, let's have another department,
8:36
Speaker 2: let's have another bureaucracy.
8:38
Speaker 6: Well, I don't want to downplay the work that those
8:41
Speaker 6: patient advocates did in the frustration that they felt with
8:44
Speaker 6: our health system when it came to getting decent cancer treatment.
8:48
Speaker 6: But it's not just those patient advocates. If you look
8:50
Speaker 6: at what happens in New Zealand where we have a
8:54
Speaker 6: disaster or a significant event that we need to investigate,
8:58
Speaker 6: we set up a Royal commission Hype River abuse in
9:01
Speaker 6: state care, the christ Church terrorist attack. Now those commissions
9:05
Speaker 6: look carefully at what went wrong that lead to these
9:08
Speaker 6: disasters and how we could do better. If you look
9:11
Speaker 6: at the recommendations of those commissions, none of them say
9:15
Speaker 6: less public services or less investment in public services. They
9:18
Speaker 6: all say we need to do more, we need to
9:20
Speaker 6: look more carefully. Here's how we need to set up
9:23
Speaker 6: our public policy administration in New Zealand.
9:25
Speaker 2: Let's just take the money out of it, let's take
9:27
Speaker 2: the advocacy out of it. But doesn't the amount of
9:29
Speaker 2: bureaucrats we currently have just lead to confusion and are
9:34
Speaker 2: slowing down of our public service. For instance, MB currently
9:37
Speaker 2: answers to twenty different ministers. That's confusing.
9:41
Speaker 6: Well, actually that's the kind of consolidation that this report's
9:45
Speaker 6: asking for more of. So if that's confusing, then the
9:48
Speaker 6: reporter is itself confusing, and I think it is. It
9:51
Speaker 6: actually just takes a numerica and that analysis and overlays
9:55
Speaker 6: it onto public agencies. There's no proper assessment of the
9:59
Speaker 6: importance of, for example, the work of the Ministry for
10:01
Speaker 6: Woman or the work of the Ministry for Pacific people,
10:04
Speaker 6: their history, the role that they play, and I think
10:06
Speaker 6: it's just through some plastic when you look at it
10:08
Speaker 6: that way.
10:09
Speaker 2: All right, flirt, and I thank you so much for
10:11
Speaker 2: your time today. Flur Fit Simons is from the PSA.
10:14
Speaker 2: She is the National Secretary of the PSA, and of course,
10:17
Speaker 2: as we all know, Turkeys don't vote for Christmas, so
10:20
Speaker 2: she's not going to look very fondly on any rationalization
10:23
Speaker 2: of any job at all. Text through from Howard fitz
10:25
Speaker 2: Simons is out of touch. Countries of similar size have
10:29
Speaker 2: way less bureaucrats. Where a city the size of a
10:32
Speaker 2: city with sixty five thousand bureaucrats, and that is just
10:35
Speaker 2: ridiculous thinking for your text, Howard ninety two to ninety
10:38
Speaker 2: two is the numbered the phone? A bit of bad
10:40
Speaker 2: news around at the moment for a couple of former
10:42
Speaker 2: American high fliers. You may know the names. Robert Muehler,
10:45
Speaker 2: the former head of the FBI, has Parkinson's. He's using
10:48
Speaker 2: that condition to get out of testifying about the FBI's
10:50
Speaker 2: investigation into Epstein. And Rudy Giuliani, the man with the
10:54
Speaker 2: melting hair, the former New York City mayor and lawyer
10:57
Speaker 2: for President Trump. Rudy suffered a fractured vie in a
11:00
Speaker 2: car crash in New Hampshire. So the interest rates are
11:03
Speaker 2: going down, but the housing market is still stuck. What's
11:07
Speaker 2: that about. We'll talk about this with a mortgage broken
11:09
Speaker 2: next here on news Talk ZBB. It's five twenty.
11:12
Speaker 1: Views and views you trust to start your day. It's
11:15
Speaker 1: earlier this Ship with Andrew Dickins and one roof Love
11:19
Speaker 1: Where you live newstalks'd B.
11:21
Speaker 2: So let's talk about property. Interest rates are softening and
11:24
Speaker 2: the proper property market though, is still in limbosh. Excuse me,
11:28
Speaker 2: So we've got centric data which was out today. It
11:32
Speaker 2: shows new mortgage lending is up twenty five percent year
11:34
Speaker 2: on year, listing's up nine percent, and yet prices remain flat.
11:39
Speaker 2: So is now really the time to buy? I'm joined
11:41
Speaker 2: by Jeremy andrews Now. Jeremy's a mortgage broker at Key Mortgages,
11:44
Speaker 2: and I thank you for joining us. Good morning to you, Jeremy,
11:47
Speaker 2: Good morning Andrew. You're noticing the uptick and new mortgages.
11:52
Speaker 7: It's kind of up and down a bit at the moment. Suddenly,
11:56
Speaker 7: the last couple of months were very big months turn
12:00
Speaker 7: around times with banks were really blowing out. But it
12:03
Speaker 7: has dropped off just a little bit now, so it's
12:06
Speaker 7: kind of it comes in waves.
12:08
Speaker 2: With the mortgage lending up twenty five percent of people
12:10
Speaker 2: are borrowing and yet not buying. Then what are they
12:13
Speaker 2: spending the borrowed money on.
12:19
Speaker 7: It's probably just around when they're buying. I think we've
12:24
Speaker 7: certainly got We've got a lot of people at the
12:26
Speaker 7: moment just getting pre approved. Interest rates have dropped a lot,
12:31
Speaker 7: especially with their latest OCR drop the the Committee. One
12:38
Speaker 7: of the big changes compared to the previous OCR review
12:41
Speaker 7: is two out of six in the Reserve Bank Committee
12:44
Speaker 7: voted for a fifty drop, a fifty point drop rather
12:48
Speaker 7: than twenty five. So following that, interest rates have dropped
12:51
Speaker 7: a lot more.
12:52
Speaker 2: Yeah, so you reckon that the market is actually factoring
12:55
Speaker 2: in the fact that there may be even more interest
12:58
Speaker 2: rate drops and so they might hold off a little
13:00
Speaker 2: bit longer.
13:02
Speaker 7: Yeah, there are a lot of people just kind of
13:05
Speaker 7: getting getting approved and just holding off. I saw just
13:11
Speaker 7: lately a lot more activity. I saw we had one
13:14
Speaker 7: client going to auction and there were nine people registered
13:18
Speaker 7: to bid at that auction, which is the first time
13:19
Speaker 7: I've seen that in a long time. So I think
13:22
Speaker 7: people are still being it's still a buyer's market, and
13:25
Speaker 7: people are still being a bit kind of cautious just
13:27
Speaker 7: around how much they spend. I don't think FOMO is
13:30
Speaker 7: really really fully getted. True, it is a little bit now.
13:35
Speaker 2: So the house prices they're still slowly dropping, but we've
13:39
Speaker 2: got buyers and they cashed up, they've got their mortgages,
13:41
Speaker 2: they're ready to go. So how long before we see
13:43
Speaker 2: house prices turning the corner and going the other way.
13:48
Speaker 7: I think we probably I think we have turned that corner,
13:51
Speaker 7: or we must be very close if we haven't. It
13:54
Speaker 7: depends on the region as well. I know some regions
13:56
Speaker 7: haven't really really been coming down, still going head a
14:02
Speaker 7: couple of big metros that are still struggling. In terms
14:07
Speaker 7: of when we turn that corner, I think we'll probably
14:11
Speaker 7: see Yeah, it'll be quite a hot summer ahead.
14:15
Speaker 2: Jerry Andrews from Key Mortgages. I thank you so much
14:17
Speaker 2: for your time. It is now five twenty five News Talks.
14:19
Speaker 1: It be the early edition full show podcast on iHeartRadio
14:24
Speaker 1: powered by News Talks.
14:25
Speaker 2: It be News Talks B five twenty six. Less took
14:28
Speaker 2: the really important stuff. Let's took water. The government's new
14:32
Speaker 2: plan for water services has called local Water Done Well.
14:35
Speaker 2: It's all about keeping control on the hands of local
14:37
Speaker 2: councils and communities rather than creating those big centralized bodies,
14:40
Speaker 2: which was what three Waters did. Eventually, Labour's three Waters
14:44
Speaker 2: idea caved and the policy got renamed ten Waters because
14:48
Speaker 2: there'll be ten bodies. But even that wasn't popular, And
14:51
Speaker 2: of course it was that travelsome politics around Malordi co
14:54
Speaker 2: governance that freaked a lot of people out. So now
14:57
Speaker 2: we've got national in and councilors have to submit their
15:00
Speaker 2: water services delivery plans showing how they'll manage drinking water,
15:03
Speaker 2: wastewater and storm water. There'll be oversight from regulators, but
15:07
Speaker 2: the big focuses on local decision making and community accountability
15:11
Speaker 2: and better outcomes. And that water service delivery plan has
15:14
Speaker 2: to be delivered to the Secretary for Local Government tomorrow
15:17
Speaker 2: the third of September. And these plans outline how each
15:20
Speaker 2: council will deliver and fund water services. It looks to
15:25
Speaker 2: me like it's going to be a bus And the
15:27
Speaker 2: big sticking point is funding, which was actually at the
15:30
Speaker 2: core of Three Waters. Three Waters was going to force
15:33
Speaker 2: water services to be amalgamated the asseots used to borrow
15:36
Speaker 2: against and the loans paid off by water rates, not rates,
15:39
Speaker 2: to give them more money to fix the pipes. Local
15:42
Speaker 2: Waters done well allows for that to happen too, but
15:44
Speaker 2: the big difference was it has to be done voluntarily
15:47
Speaker 2: by the councils, and it turns out they don't want
15:49
Speaker 2: to do that. And I'll give you a concrete example.
15:52
Speaker 2: Teams Corrimandal might be a water services situation. The place
15:55
Speaker 2: is mountainous, the weather events extreme, there's hardly any rate payers,
15:59
Speaker 2: and then the population explodes in summer. The Thames Coromand
16:02
Speaker 2: of Council wanted to join forces with Todonga and Western
16:05
Speaker 2: Bays to form a bigger regional body to fund the
16:08
Speaker 2: water off their existing assets. But Teldonger doesn't want the
16:12
Speaker 2: hassle of Thames Coromandel. Who would and so that deal
16:14
Speaker 2: hasn't happened. And the estimation is that this is going
16:18
Speaker 2: to put five to six hundred dollars onto the Thames
16:21
Speaker 2: Corimandal rates. Now we all want better water, but we
16:25
Speaker 2: also want lower rates. And we're going to find out
16:27
Speaker 2: tomorrow what's going to happen with the water. But at
16:30
Speaker 2: the moment to me, it looks like the policy should
16:32
Speaker 2: be renamed local Water, done not very well and not funded.
16:36
Speaker 2: And after all the talk about water reform, we're right
16:39
Speaker 2: back at where we started from. And you and I
16:42
Speaker 2: and all the rate payers are the ones who are
16:44
Speaker 2: going to have to pay for it. Did be five
16:47
Speaker 2: twenty nine. I've got Stuart Nash to chat about. Of course,
16:52
Speaker 2: this new rule with the visas, the Golden visas, and
16:56
Speaker 2: now I can buy a property worth five million dollars.
16:58
Speaker 2: Three hundred and eight people have applied for the Golden visa.
17:01
Speaker 2: Do you think these properties are going to being available
17:04
Speaker 2: to them now is going to make a difference, is
17:06
Speaker 2: going to cause a further rise and this We'll talk
17:09
Speaker 2: to Sturt about this, and he's good because he's a
17:11
Speaker 2: former immigration minister. He's doing immigration advisory right now and
17:15
Speaker 2: he knows the politics of things and he's talking to
17:17
Speaker 2: these people that have got the Golden visa. So we've
17:19
Speaker 2: got that story. That's a big story. Just before six.
17:22
Speaker 2: I'll run you through everything about that right after the News,
17:25
Speaker 2: which is next on News Talks.
17:26
Speaker 8: Ab As of this World.
17:38
Speaker 1: Andrew dickens on earlier this show with one roof love
17:42
Speaker 1: where you live used Talks it be.
17:47
Speaker 2: That's good morning and welcome to your Tuesday. I'm Andrew Dickinson,
17:57
Speaker 2: perwine Bridge, who's getting some and having a sleep them g.
18:03
Speaker 2: You're really not liking the PSA's reluctance to see a
18:06
Speaker 2: rationalization of public bureaucracy, as suggested by the New Zealand Initiative.
18:10
Speaker 2: Simon writes, Andrew, unneeded ministries must be like gliding on
18:14
Speaker 2: a twenty twenties version. What do they do all day?
18:16
Speaker 2: Simon another text to says ministries to check on other ministries.
18:20
Speaker 2: It's just ridiculous, and Graham says, Andrew, it's about time
18:23
Speaker 2: we kept up with the plan to make our public
18:25
Speaker 2: service smaller and more efficient. Flurfit Simon seem to think
18:28
Speaker 2: that we all want some woke reports to run our lives.
18:32
Speaker 2: Get real people the whole problem, as it's costing way
18:35
Speaker 2: too much. Thank you so much for your text, Graham.
18:37
Speaker 2: Now we're talking about this new ability for active investor
18:40
Speaker 2: plus visa holders to purchase properties with Stuart Natt a
18:44
Speaker 2: bit later on. So foreign buyers are still banned from
18:47
Speaker 2: purchasing most residential properties. The property you buy has to
18:52
Speaker 2: be valued at five million dollars or more, and that
18:55
Speaker 2: excludes over ninety nine percent of homes on the market.
18:58
Speaker 2: I think last year's figure point five percent scent of
19:00
Speaker 2: homes for over five million dollars. Now, the whole exemption
19:04
Speaker 2: to allow them to buy those big homes is to
19:07
Speaker 2: attract high net worth individuals who should then invest millions
19:11
Speaker 2: into New Zealand's economy. Rural, farm and sensitive land excluded
19:14
Speaker 2: from the exemption. Only one home per investor is allowed
19:17
Speaker 2: under the new rule to stop speculation and flipping. There
19:21
Speaker 2: have been three hundred and eight applications for the gold
19:23
Speaker 2: and visa. That visa. If you get that visa, it
19:25
Speaker 2: requires multimillion dollar investments in New Zealand businesses or funds,
19:31
Speaker 2: so not just property. So they're bringing more than just
19:33
Speaker 2: the five million bucks of the house. How will it work?
19:35
Speaker 2: Will it work? With Stuart Nash just before six, it's
19:38
Speaker 2: twenty two to six news talk z be in the country.
19:42
Speaker 2: We go and first to Otago Kellum Proctor. Good morning,
19:45
Speaker 2: morning Andrew. The Regional Council. They're assessing the effects of
19:48
Speaker 2: earthquakes in the Kluther region.
19:51
Speaker 6: Yeah.
19:51
Speaker 9: This has been an independent assessment that's part of the
19:54
Speaker 9: Regional Council's natural hazards work here. It looked at three
19:57
Speaker 9: different earthquakes scenarios and the area, which includes bel Kluth
20:01
Speaker 9: and Kaitungata, could be affected by liquefaction and a strong
20:05
Speaker 9: to severe earthquake due to the soft sediments making up
20:09
Speaker 9: the ground there. The more likely scenario, they would result
20:11
Speaker 9: in light to moderates shaking with only minor impacts. The
20:14
Speaker 9: Regional Council says the study has helped give them a
20:17
Speaker 9: better understanding of the damage earthquakes could cause in the
20:20
Speaker 9: area and the secondary hazards as well. That could be triggered,
20:23
Speaker 9: such as flooding. How's your weather, shewers clear this afternoon
20:27
Speaker 9: for us, a strong south easterly, the high only ten today.
20:31
Speaker 2: Grace here as we go, classe here were good morning
20:32
Speaker 2: to you. Good morning. We've got people camping out in
20:36
Speaker 2: a church car park.
20:37
Speaker 10: Why yeah, this has caused quite the stink here, Andrew.
20:41
Speaker 10: We've got at least ten, possibly now up to twenty
20:43
Speaker 10: residents living in a car park of Holy Trinity Church
20:47
Speaker 10: at Avonside.
20:48
Speaker 2: It's a real set up.
20:49
Speaker 10: There are tense campus sheds, you name it.
20:51
Speaker 7: Now.
20:52
Speaker 10: Some neighbors had complained about this and leading to the
20:54
Speaker 10: Christiach City Council issuing an abatement notice demanding the residents
20:58
Speaker 10: stop using the car park within a matter of days. Now,
21:01
Speaker 10: the short deadline on that notice and the fact that
21:04
Speaker 10: the church was happy for the car park to be
21:06
Speaker 10: used to this way fired up reaction. We had locals,
21:09
Speaker 10: homeless support groups, city councilors all saying that it had
21:12
Speaker 10: to stop. Council has now extended the abatement notice until
21:16
Speaker 10: early October. This is to allow the residents to access
21:19
Speaker 10: to more support and find suitable living arrangements in the
21:22
Speaker 10: interim council has organized some rubbish collection from the site
21:26
Speaker 10: and also nighttime security patrols in order to promote safety
21:30
Speaker 10: and reassure the community.
21:31
Speaker 2: How's your weather a bit.
21:33
Speaker 10: Frosty to start, They're mainly fine until some scattered showers
21:36
Speaker 10: a bit later. This afternoon. Northwesterlyes are high of fifteen
21:39
Speaker 10: in Wellington.
21:40
Speaker 2: We have Max Toll Good morning, Max, Good morning. The
21:42
Speaker 2: City to See Bridge is going to be demolished.
21:45
Speaker 11: Yeah.
21:46
Speaker 12: This is the prominent walkway that crosses over the keys
21:49
Speaker 12: from Civic Square or Jervis Key to the waterfront. This
21:52
Speaker 12: big twisty wooden art work with little nooks and crannies
21:55
Speaker 12: and quirky timber benches. At the top. You've got large
21:59
Speaker 12: concrete slab on the side. You can see from the harbor.
22:01
Speaker 12: Quite an impressive large artwork. The Wellington Civic Trust has
22:06
Speaker 12: been mounting a lake bid to try to save it.
22:08
Speaker 12: No bueno. Unfortunately, the City Council can, as intended, go
22:11
Speaker 12: ahead and knock it down rather than paying tens of
22:15
Speaker 12: millions of dollars that is required to fix it to
22:18
Speaker 12: make it structurally sound. It is slightly controversial this. You
22:21
Speaker 12: would think a lot of Wellingtonians quite highly valued this
22:26
Speaker 12: this thing. It's probably just become too expensive.
22:29
Speaker 11: In six.
22:29
Speaker 2: I love that bridge. It's a beautiful bridge.
22:33
Speaker 12: Yeah, now I fear we're in the minority.
22:35
Speaker 2: Here looks so solid. It does.
22:39
Speaker 12: Unfortunately, the bill has ranged anywhere from eighty to one
22:41
Speaker 12: hundred and twenty million dollars just to make it, you know,
22:44
Speaker 12: earthquake proof. So the council has just gone ahead and
22:48
Speaker 12: written it off. Instead, they're going to get to a
22:51
Speaker 12: new pedestrian crossing and then perhaps something more significant in
22:54
Speaker 12: the long term. But yeah, we're in the minority.
22:56
Speaker 2: It's going how worldly boring? How's your wither exactly?
23:00
Speaker 12: I mainly find today some showers later on strong winds
23:03
Speaker 12: fifteen the high Central and.
23:05
Speaker 2: To walk on we go. Neither written many Good morning
23:07
Speaker 2: to you, Good morning to Marbicks's closing in Queen's Arcade.
23:10
Speaker 2: Just one of the great retailers. Yes, music music retails.
23:14
Speaker 8: USIC retailers. Yes, you'll be feeling quite emotional about that.
23:16
Speaker 8: Oh very you'll remember, you'll have fond memories.
23:19
Speaker 2: Well look, I was actually in my garage in the
23:21
Speaker 2: weekend looking at my CD collection. Wow, which was quite
23:25
Speaker 2: comprehensive and a lot of them had the Marbick sticker
23:27
Speaker 2: on it, and a lot of them said thirty bucks,
23:29
Speaker 2: you know, because that's how much he used to pay
23:30
Speaker 2: for a CD there. And I figured out that I
23:32
Speaker 2: must have given mar Bicks thousands of dollars of my money.
23:35
Speaker 8: Well, good on you. You were representing and contributing on
23:38
Speaker 8: my behalf, because I think I've only even been in
23:40
Speaker 8: there once.
23:40
Speaker 2: Now, well that's you know, it's because they changed, Yes,
23:44
Speaker 2: the iPod and streaming means CDs and records go.
23:48
Speaker 8: Yep, that's right now. It is moving to trade online.
23:51
Speaker 8: Roger Marbick, he's the founding family member. He says, Look
23:54
Speaker 8: this online bezore, it's going to represent a continuation of
23:57
Speaker 8: the legacy. And as you just say, that retail landscape,
24:01
Speaker 8: that big change. But look going forward, this reshaped community engagement.
24:06
Speaker 8: They're planning on having, you know, launching up pop up
24:08
Speaker 8: events at festivals and music gatherings around the country, just
24:11
Speaker 8: to keep the spirit of mar books alive.
24:13
Speaker 2: Hous Hawkins well partly.
24:15
Speaker 8: Cloudy Odshower seventeen is high here in Auckland.
24:18
Speaker 12: Wever.
24:18
Speaker 2: I thank you. At his seventeen minutes to six text
24:20
Speaker 2: through from John he says Andrew. My property is worth
24:23
Speaker 2: about one point seven million dollars, but I will happily
24:25
Speaker 2: sell it for five million. Now that's actually almost a
24:29
Speaker 2: very good point because one if you've got a property
24:32
Speaker 2: that's worth like four point three four point four to
24:34
Speaker 2: four point five and suddenly you've got a whole heap
24:36
Speaker 2: of investors coming in who can buy a house for
24:38
Speaker 2: five Will it mean price escalation for the top end
24:42
Speaker 2: but not the not over five but the over fours.
24:45
Speaker 2: Will that change things then? I don't know. Stuart nashviill
24:49
Speaker 2: have his thoughts on this. Just before six o'clock. If
24:51
Speaker 2: this is news, talk to zm B to Australia, we.
24:53
Speaker 1: Go next international correspondence with ends and eye insurance feace
24:57
Speaker 1: of mind for New Zealand business.
25:00
Speaker 2: It's fourteen to six dot on tomorrow from Australia. Good morning,
25:04
Speaker 2: Good morning, so Albanezi. He has been speaking on the
25:07
Speaker 2: Nauru deportation plan.
25:10
Speaker 13: Yes, the PM has spoken and in his words he
25:13
Speaker 13: says there's nothing secret about a four hundred million dollar
25:17
Speaker 13: deal with Nuru to offload hundreds of non citizens. Now,
25:21
Speaker 13: the government announced this deal on Friday night and that
25:24
Speaker 13: is a time we know is notoriously used to bury announcements,
25:29
Speaker 13: but people noticed and they wanted to know more details.
25:32
Speaker 13: So the PM has now spoken out and he says
25:34
Speaker 13: that these arrangements are to deport about two hundred and
25:38
Speaker 13: eighty members of a cohort, as he put it, non
25:42
Speaker 13: citizens living in Australia whose visas were canceled on character grounds.
25:47
Speaker 13: And you know, he's saying that you know this decision,
25:52
Speaker 13: this deal is hardly secret. He says that these are
25:56
Speaker 13: the people that they don't have a legitimate reason to
25:59
Speaker 13: stay in Australia. While there's been some swift and strong
26:03
Speaker 13: reaction from refugee advocates, human rights lawyers, the Greens, they're
26:07
Speaker 13: all furious and they've described as steel as discriminatory, disgraceful
26:12
Speaker 13: and dangerous.
26:13
Speaker 2: All right, Donna, and I thank you, And yes, there's
26:15
Speaker 2: loads of marches at the moment happening regarding immigration's big
26:18
Speaker 2: issue in Australia. Now China's big military parade tomorrow. Bob krr,
26:22
Speaker 2: the former New South Wales premiert, former Australian Foreign Affairs minister,
26:25
Speaker 2: is going and he's written in the Sydney Morning Herald
26:27
Speaker 2: this morning as to why, and he says the Pacific
26:29
Speaker 2: War started with the rape of Nang King back in
26:32
Speaker 2: nineteen thirty seven. Did you know that twenty million Chinese
26:35
Speaker 2: people died resisting the Japanese invasion, twenty million And it
26:39
Speaker 2: was because of that resistance that one million Japanese troops
26:42
Speaker 2: were committed to the Chinese battles. And that meant that
26:45
Speaker 2: japan did not have the capacity to invade Australia, which
26:49
Speaker 2: you know, which they were wanting to do, but they
26:51
Speaker 2: couldn't do that. And if they had invaded Australia, that
26:54
Speaker 2: could have changed absolutely everything in our neck of the woods.
26:57
Speaker 2: And Bobka says that is worth commemorating the sacrifice of
27:01
Speaker 2: the Chinese which saved us. And I think he's white.
27:04
Speaker 2: It is twelve to six News Talk Zibby right. Well,
27:07
Speaker 2: the government's changed his mind on the foreign buyer's ban.
27:10
Speaker 2: Golden visa holders can now snap up homes worth five
27:12
Speaker 2: million dollars or more as long as they invest at
27:14
Speaker 2: least five million dollars into the country. The wider ban
27:17
Speaker 2: on residential property still stands. Stuart Nash is a former
27:20
Speaker 2: Labor Cabinet minister. He's currently a co founder of Nash
27:23
Speaker 2: Kelly Global, the relocation consultancy that advises wealthy individuals, the
27:27
Speaker 2: one we're looking for, particularly from the US on immigration
27:30
Speaker 2: to New Zealand, and he joins us. Now, hello's Jurdon.
27:34
Speaker 11: Good morning.
27:34
Speaker 2: How are you very good on a political point? Bent?
27:37
Speaker 2: First of all, how on earth did the government get
27:39
Speaker 2: Winston on board?
27:41
Speaker 11: I love Winston's all about economic development and growth. He
27:44
Speaker 11: knows that. You know, when these investor migrants come to
27:47
Speaker 11: New zeald and they invest in the way they are,
27:49
Speaker 11: that creates jobs and wealth and it's good for the
27:51
Speaker 11: jild economy. I mean at the moment, we've got about
27:53
Speaker 11: one point eight billion dollars it's been promised. Now remember
27:56
Speaker 11: this is going into active investment into our economy. There's
27:59
Speaker 11: nothing better about that.
28:00
Speaker 2: Yeah, there are currently three hundred and eight applications for
28:03
Speaker 2: the Golden visa and they're bringing a lot of money.
28:05
Speaker 2: You just told us that the numbers are they ready
28:08
Speaker 2: to snap up a property as well.
28:11
Speaker 11: They take a little bit of time because they've got
28:13
Speaker 11: to you know, they've got to figure out how they're
28:15
Speaker 11: going to invest. They've got to get their visas. But
28:17
Speaker 11: you know, this is money that's invested actively into economy.
28:20
Speaker 11: But the thing for me is it's not just about
28:22
Speaker 11: the money. These people bring their experiences, their contexts, their networks,
28:26
Speaker 11: their competencies. So by and large, what happens is when
28:30
Speaker 11: they bring their money in, they also bringing a whole
28:34
Speaker 11: lot of different skills and competencies into our communities. That
28:37
Speaker 11: just creates value. It's fantastic.
28:39
Speaker 2: Do you think it's going to drive house prices up?
28:41
Speaker 2: Because I saw a guy on the telly last night
28:44
Speaker 2: he's saying this is going to pump primes things give
28:45
Speaker 2: people more confidence that it should affect the entire market.
28:48
Speaker 2: Do you think it will drive the prices up or
28:50
Speaker 2: only affect that top point five percent of properties?
28:54
Speaker 11: We look, what I say is that these people don't
28:57
Speaker 11: compete with the first time buyers. They compete with a
28:59
Speaker 11: lot of when theo's keep in mind, these people can't
29:02
Speaker 11: buy a house under five million dollars, and it's about
29:05
Speaker 11: they reckon. There's about ten million, ten thousand houses or
29:08
Speaker 11: seven thousand houses that a who lived in immediately worth
29:12
Speaker 11: over five million dollars. So for the vast majority of people,
29:14
Speaker 11: that won't have any difference whatsoever. So no, in fact,
29:19
Speaker 11: quite the opposite. I think this would be great for
29:21
Speaker 11: builders because you know these guys will come in, they
29:24
Speaker 11: will build expensive houses because this is what they do.
29:27
Speaker 11: But you know, I live in Napier. There are very
29:31
Speaker 11: very few houses and they be at any worth over
29:33
Speaker 11: five million dollars. So I think they're good hard work
29:36
Speaker 11: and keys aren't going to see a change add all
29:38
Speaker 11: to their house prices.
29:39
Speaker 2: Okay, well, you've been talking to people who have got
29:41
Speaker 2: the Golden Visa. Are they keen to build? Would that
29:44
Speaker 2: actually be even more attractive to them because they could
29:47
Speaker 2: then make the house that they really want.
29:49
Speaker 11: Yeah, accommodation of both, so you will see some buy Look,
29:53
Speaker 11: it may it may affect house prices at the hanging
29:56
Speaker 11: down in Queenstown, but the vast majority of people won't
29:59
Speaker 11: see any difference. What's whoever, But I was talking to
30:01
Speaker 11: a chap who has got a development. He wants This
30:05
Speaker 11: is a this is an American billionaire. He wants to
30:08
Speaker 11: build an incredibly big lodge. And there's about thirty sections
30:11
Speaker 11: that will that will be worth over five million dollars.
30:16
Speaker 11: There that is a significant amount of development. These are
30:19
Speaker 11: houses that wouldn't be built otherwise. Of course, you know
30:21
Speaker 11: the sections are open for kiwis to buy. But we
30:24
Speaker 11: are talking high end and we're talking people who come
30:26
Speaker 11: over here and when they have a property here, they
30:28
Speaker 11: tend to stay for longer, they spend more. There is
30:32
Speaker 11: no downside to this at all. So you know, when
30:34
Speaker 11: I hear people say this is going to this is
30:36
Speaker 11: going to impact the property prices, I just I just
30:40
Speaker 11: think not at all, not at all. At the very
30:43
Speaker 11: top end maybe, but good hard work and kiwis, who
30:46
Speaker 11: are you know who are looking struggling or working hard
30:49
Speaker 11: to get there. So the housing that won't make any difference.
30:52
Speaker 2: No matter what the Prime Minister says, this is still
30:54
Speaker 2: a compromise to fit in Winston Peters. So should they
30:58
Speaker 2: look to open it up further.
31:00
Speaker 11: No, I think we've got I think we've struck a
31:03
Speaker 11: very nice balance. But I don't think this is a
31:06
Speaker 11: compromise now. The reason I say that is New Zealand
31:10
Speaker 11: first has always been about economic development and growth and
31:13
Speaker 11: making sure that good hard work and keepies have the
31:15
Speaker 11: opportunity to work. We're talking so far one point eight
31:19
Speaker 11: billion dollars it's been promised to come into our economy.
31:21
Speaker 11: I think this is going to get a little bit
31:23
Speaker 11: of a boost and my business. I've got about four
31:25
Speaker 11: clients in the last couple of weeks. I've said, no,
31:27
Speaker 11: we're not interested in New Zealand because we can't buy
31:29
Speaker 11: a property. Now they can. You're going to see more
31:32
Speaker 11: money coming into the economy and I just want to
31:34
Speaker 11: reiterate this is money that has to be invested actively.
31:37
Speaker 11: So we're talking about into New Zealand businesses, into areas
31:42
Speaker 11: that create jobs and economic wealth for our economy and
31:45
Speaker 11: for all key weeks.
31:45
Speaker 2: Now, Stuart, you've mentioned New Zealand first and awful lot
31:47
Speaker 2: in this interview and does this mean that you're going
31:49
Speaker 2: to stand for them.
31:52
Speaker 11: No, No, not at all. All I'm saying is that
31:54
Speaker 11: Winston and Shane represent the politics of pragmatism and I
31:57
Speaker 11: think this is about economic development, growth and job and
32:00
Speaker 11: Winston and Shane understand that. It's the reason why we're
32:05
Speaker 11: talking about a good news story at the moment.
32:07
Speaker 2: Good stuff. Thank you so much. That is Stuart Nash.
32:09
Speaker 2: This is news Talks, he'd b it is seven minutes
32:11
Speaker 2: to six.
32:13
Speaker 1: The news you need this morning and the in depth
32:15
Speaker 1: analysis early edition with Andrew Dickots and one Roote Love
32:20
Speaker 1: where you Live. News talks that'd be.
32:22
Speaker 2: Yeah, big day tomorrow. The councilors have to submit their
32:24
Speaker 2: water services delivery plans and uh, if pictator decided what
32:29
Speaker 2: and what are they going to do? And are they
32:30
Speaker 2: going to fix the leaks? Sue's very worried about the
32:32
Speaker 2: whole thing. She's in the wilted Upper. She says their
32:34
Speaker 2: local councils have been rushing it through for the third
32:36
Speaker 2: September deadline, and she's worried the councils are an election
32:39
Speaker 2: mode and she reckons these things should be left until
32:41
Speaker 2: after the election. But yeah, big story tomorrow. What's going
32:44
Speaker 2: to happen with the water? My casking come morning to you,
32:46
Speaker 2: Good morning.
32:49
Speaker 14: So the bureaucraw you had you hadn't prepared a proving,
32:54
Speaker 14: approbing open question.
32:56
Speaker 2: For no, no, no, But well I'm going to talk
32:58
Speaker 2: about the bureaucrats because I talked it with Firs Simons
33:00
Speaker 2: this morning and the New Zealander Initiative report, yes, and
33:02
Speaker 2: then and then she was just so defensive about the
33:04
Speaker 2: whole thing. And then of course the audience is so
33:06
Speaker 2: angry about the whole thing, and she was saying, people
33:08
Speaker 2: don't people don't want public servants cut. And see what
33:10
Speaker 2: I'm afraid they do.
33:11
Speaker 14: The funny thing is they do and Brian Roch, who's
33:14
Speaker 14: the Public Service Commissioners, actually sort of doing that job.
33:17
Speaker 14: It's funny. I mentioned to the Prime Minister yesterday they
33:19
Speaker 14: ended up cutting two thousand jobs and it was a
33:22
Speaker 14: huge They should have done ten thousand because the approbrium
33:26
Speaker 14: and anger at the time didn't matter what the number was,
33:28
Speaker 14: because everyone who was furious was furious. So they missed
33:31
Speaker 14: their opportunity.
33:32
Speaker 2: So now to see five thousand buerios, it's a two thousand.
33:36
Speaker 2: It's a city.
33:37
Speaker 14: And so anyway, he might be doing the job. But
33:39
Speaker 14: we'll talk to the New Zealand Initiative. Will also talk
33:41
Speaker 14: to Winston Peters, who seemed sort of edgy yesterday, didn't he.
33:44
Speaker 2: Said, don't talk about this, don't talk about the house
33:46
Speaker 2: raising to drag, kicking.
33:47
Speaker 14: And screaming, had that vibe about it. So anyway, he's
33:49
Speaker 14: with us, Prime Minister's with us.
33:51
Speaker 9: They're all with us.
33:52
Speaker 2: They always are. And I thank you Nathan Kensy for
33:54
Speaker 2: producing the show. And I'm Andrew Dickinson. I'll see you tomorrow.
33:57
Speaker 2: Have yourself a wonderful Tuesday.
34:08
Speaker 1: For more from Early Edition with Ryan Bridge, listen live
34:11
Speaker 1: to news talks. It'd be from five am weekdays, or
34:14
Speaker 1: follow the podcast on iHeartRadio