Naveya & Sloane’s sparkling success

An Auckland-based bespoke jewellery company has grown rapidly to meet the demand for its made-to-order and handcrafted wedding and engagement rings. Soon expanding internationally, the company reflects on its success to date.

When prospective clients arrive at Naveya & Sloane’s Auckland premises seeking to have a piece of jewellery custom-made, they don’t have to look far to see where their eventual purchase will be produced.

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Is the Unitary Plan the great saviour of Auckland’s housing crisis?

BNZ’s Chief Economist Tony Alexander reflects on how the Unitary Plan will affect soaring Auckland house prices and future urban growth.

For the third time in three years the Reserve Bank has imposed new rules on the minimum deposit size investors must have when using a mortgage to buy property in Auckland. The first occasion was October 2013 when the 20% minimum was introduced for all borrowers. Then in October 2015 we had the 30% minimum for Auckland investors. Now we have a 40% minimum starting from October this year, although this has already being applied by banks for lending not arranged before the policy was announced a month ago. Continue reading…

Building a support system as a small business owner

Small business owner Caitlin Sykes recently attended a BNZ Connect event and found a supportive community of fellow small and medium-sized business owners.

My day was running at a loss. Several meetings in the central city had left the to-do list back in my home office largely untouched.

So when the calendar alert popped up to tell me it was now time to head out once more, the after-work event I’d optimistically scheduled a couple of weeks earlier suddenly wasn’t looking so doable. Continue reading…

End in sight for rising house prices

BNZ’s Chief Economist Tony Alexander reflects on the New Zealand housing market and upcoming changes around the minimum deposit size, that takes place from September 1.

As a macroeconomist my job is to avoid getting mired in the details of what is happening in particular parts of the economy and instead to focus on the big picture and the broad trends. These are the things which I talk about when making presentations to groups of retailers, home buyers, home builders, manufacturers, investors, farmers and so on around the country. Continue reading…

Closed for Good: Running financial literacy workshops in prisons

Inspired by their Closed for Good activity in 2014, members of our Wellington Private Bank Team have taken up the mantle of running financial literacy workshops for the Wellington Department of Corrections.

In 2014, the Department submitted a request for a single financial literacy workshop as part of Closed for Good. This increased to five workshops in 2015. Realising that demand might grow, BNZ Private Banker, Brenda Allen-Browne, decided to take on the role of coordinating and facilitating these workshops on an ongoing basis. Continue reading…

The Brexit effect

BNZ’s Director of Institutional Research, Gary Baker reflects on Kiwis online retail spending post Brexit.

Post Brexit increase in online spending
Last month’s Brexit vote may be a distant memory for many, but it clearly made an impact on many New Zealanders online spending decisions. Online spending by Kiwis on UK websites surged in the week immediately following the vote – up 47% compared to the same week in 2015. Continue reading…