We are on the cusp of a once-in-a-decade influx of properties on the market. Nathan Miglani, Director of NZ Mortgages, explains. As we have discussed, in the aftermath of the election we saw immediate momentum in the market. Since March we have seen this start to drop as the reality of interest rates remaining high dampened buyers’ appetite. Petrol prices are high, the cost of living continues to increase and while the OCR is holding, and forecasted to hold for the next few months, people are hurting, which in turn sees the property market slow. But there is hope on the horizon – we are predicting that by September/October we will start to see interest rates slowly start to come down, but do not expect them to drop as quickly as they rose. We are seeing some banks offer as low as 5.99 per cent on a three-year loan, and while this might sound good now, my advice is still to only fix for a short term to avoid costly break fees. The most active market we are seeing right now is in the $800,000 – $1.3 million range with lots of buying and selling happening. This is set to ramp up come 1 July with the changes to the bright-line property rule when it comes to being taxed on capital gain – dropping from 10 years (or five years for a new build) to two. For many it will seem too good to be true, but it is! This is set to put in motion a once-in-a-decade influx of properties to the market from Mum-and-Dad investors who are currently hurting with the high interest rates, creating massive opportunity for both first home buyers and first-time investors. Other sectors of the market continue to feel the pinch and as an advocate and passionate developer it was important to me to be able to assist the construction sector, which sees the launch of our construction division, Construction Loans. This is for those who have decided to build their first home, right up to those developing a subdivision. It is about helping everyone achieve their goals – which underpins everything we do. For this sector, it is about ensuring that the finances are in order before it is too late. Arranging finance for building a property is different from securing finance on an existing home, and it is critical to consider the best way to structure repayments on the section and the build while maintaining lifestyle.  It is about empowering builders, developers and everyone to make informed decisions that work for their unique situations. There is no one size fits all, which is why it is imperative that you seek professional advice before it’s too late. We are here to help you avoid pitfalls.

Dr Cheryl Doig explores why a holistic approach, when it comes to educating, parenting and governing should be considered. It’s a complex world that our young people are growing up in. Societal change, the impact of social media and technology are colliding with climate change, misinformation, disinformation, and warfare. Trust in governments has deteriorated and the world is more polarised. It’s no wonder wellbeing and happiness are such a focus in our schools, our homes and our businesses. The recent results from the 2024 Global Happiness Index showed that happiness in Aotearoa New Zealand has fallen significantly for all age groups, but by twice as much for the young as for the old. In 2021–2023, our young people were the least happy age group. Females under 30 have one-third more negative emotions than males. Our young people are not thriving. Contrast this with 2006–2010 results, when the young were happier than those in the midlife groups, and about as happy as those aged 60 and over. The Anxious Generation: How the Great Rewiring of Childhood is Causing an Epidemic of Mental Illness by Jonathan Haidt provides some insight into what might be happening here. Haidt refers to our young people as ‘the anxious generation’ and outlines the following as contributing factors: Technology – constant connectedness and the facade of always appearing happy and successful on social media. The cult of safety – overprotective parents and risk aversion – not developing resilience nor the ability to cope with challenges. The loss of play – the decline of unstructured play and outdoor exploration, critical factors for social, emotional and cognitive development. The pressure to succeed – intense academic and extracurricular expectations. The loneliness epidemic – social isolation is more prevalent even though our children appear more ‘connected’. These are deep social issues that have no simple solution. What is needed is an holistic approach to parenting, educating and governing. A focus on literacy, numeracy and sciences alone is not going to lead to a wellbeing economy. Supportive relationships and acceptance of diversity matter more than ever. Creative and critical thinking, play and physical exercise cannot be forgotten. Futures thinking is one way of developing resilience, risk taking and autonomy, as it explores alternative world views and encourages anticipating a range of scenarios. Many of our teachers know this but struggle with the ever-changing pendulum swings of successive governments. They’re exhausted and not so happy in their work. Schools need that sense of community support. We are overdue for a bipartisan collective vision for education in order to create a future where our young people thrive, are hopeful and happy. It’s not all doom and gloom. We can make a positive difference! As parents, whānau and communities, my challenge to you is to consider one item from the bullet point list above. Lean into it and give your children a bit of space to be children and have joy in their lives. Don’t crowd them, cosset them and control them so much. Walk alongside and guide them. Let them learn from failure with you as their coach. Celebrate successes.