It’s Friday night, so what has been in the press this week that is interesting? What should you know about Kiwis? What makes Australians think we are weird?
- We hate possums. The only good possum is a dead possum, and there will eradication in the local hills. The aim is to get the population down to zero, and that will allow the bush and birdlife to recover. It was an excuse for the best Toyota Possum ad as well.
- Less people are able to buy houses: the number of households renting increased at twice the rate of owner-occupiers.
- NZ Landlords have to give tenants ninety days notice if they want to end the tenancy. They can do this for any reason. There is a new law that indicates that if your rental is not insulated (most NZ homes are not) then the Landlord will be fined. However… the law is there, and a woman has gone public after a negative view of the property manager running her private rental was served with a notice to vacate. The Landlords are getting out of the industry.
- On the same issue, there are shonky apartments, and it appears that some of them are being dumped: the owner is taking the loss. Particularly in Auckland, where there is a lot of leasehold apartments on weird title: avoid these.
- The property prices are becoming less crazy. They have never been as crazy in the South… but as this property cycle peaks, the gains are occurring where I live and not where I used to.
- A sign that we are moving into recession: the biggest academic bookshop in NZ is in receivership.
- Another sign things are getting bad: the police buyback of “military style weapons” (read anything on an AR or AK platform, or anything with a magazine) looks like it is set up to rob firearms owners. Compliance is going to be a problem, as it is seen as unfair. Note that although these guns are now illegal and there is a five year jail sentence attached with having them, there is no ability to sell them at a fair price. As a result, the goodwill the police have will tank. Among rural and provincial NZers.