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The cost of the new Dunedin Hospital could hit as much as $3 billion. Photo: RNZ/Tess Brunton Problems with Dunedin Hospital highlight that New Zealand needs to develop a more mature approach to large, important projects, Infrastructure New Zealand says. Plans for the new hospital have been thrown into doubt by government revelations last week that a report had found it could probably not be delivered in the current $1.88 billion budget. Health Minister Shane Reti and Infrastructure Minister Chris Bishop said it would need to be reduced, or done in stages, or the cost could hit $3b. In 2017, it was estimated the build would cost $1.2b to $1.4b. Infrastructure New Zealand chief executive Nick Leggett said on as cost-per-metre basis, it would be the costliest hospital in Australasia. "We ...

While the rental market has softened, commentators say it is unlikely that the return of deductibility is the driver. File photo. Photo: Unsplash / Tom Rumble New Zealand's rental market is cooling - but how much of that is due to the return of interest deductibility for investors? In March, prime minister Christopher Luxon said renters would be "grateful" that extra costs would no longer be passed on to them after the government moved to phase back in investors' ability to claim loan interest costs against their rental income for tax purposes - reducing the amount of tax they pay. Act Party leader and associate finance minister David Seymour said at the time the pressure on landlords from the Labour government's removal of deductibility was reducing the number of rentals and pushing re...

Property coach Steve Goodey says the market has "most definitely" bottomed out. File photo. Photo: RNZ / 123rf Property coach Steve Goodey says the time is right to buy a house - but not everyone is as convinced. Goodey asked his social media followers this week what they were waiting for. "I can get 5.59 percent for three years even if the floating rate is still in the 8s. "Auckland house prices are by average now under $1 million for the first time since 2020… Mortgage brokers round the country are recording a massive upswing in activity with investors and first-home buyers alike getting pre-approvals. "Daylight saving has started giving agents more sunlight and evening open homes. So what indicator or metric are you waiting for to get stuck in? Will you wait for two more OCR reductio...

Dozens of stores have closed between Courtenay Place and Lambton Quay in 2024. File photo. Photo: RNZ / Jake McKee While the council is looking into a financial package for some areas affected, some critics said it does not go far enough. Flora Quintana has run Syrian restaurant Damascus for five years and like many restaurant owners around the capital, she is facing tough times. She also lost most of her family's belongings in a house fire earlier this year. Not about to give up, she has opened a takeaway bar to bring in more sales. "You don't need as many staff so mainly the high costs that a restaurant has is the staff, is wages. I think that with a takeaway as well, what happens is that you can offer something a bit smaller, kind of like a cheaper price and people I think at the mom...