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A new report shows 89 percent - or $2.35b - of NZ's healthtech revenues were generated overseas. File photo. Photo: sinenkiy/123RF The value of healthtech exports has more than doubled in the past decade to $2.6 billion from $1.27b, but investment is lagging behind global peers. A report by Technology Investment Network (TIN) with partners Medtech-iQ indicates the healthtech sector is second only to fintech in tech sector exports, based on information collected from 233 New Zealand healthtech companies. "After a period of rapid growth, New Zealand healthtech firms are adjusting to a more stable demand environment," report author and TIN head of research Alex Dickson said. The healthtech sector's revenue grew 2.4 percent in 2023, with 89 percent - or $2.35b - generated overseas. About 12...

BNZ chief economist Mike Jones says there will be ongoing downward pressure on wholesale and retail interest rates. Photo: RNZ Home loan borrowers can expect rates to fall throughout the rest of this year and next, commentators say. The Reserve Bank cut the official cash rate by 25bps to 5.25 percent on Wednesday. While it was a move that was forecast by several economists, it was a u-turn from the bank's position in May. Infometrics chief executive Brad Olsen described it as a "WTH moment" and "the biggest flip-flop ever". Mortgage rates moved within minutes - Kiwibank reduced its variable rates by 25bps, passing on the full cut, and ASB dropped its floating and fixed rates. Its 18-month term dropped by 34 basis points. BNZ chief economist Mike Jones said there would be ongoing downwar...

Median New Zealand property values are now at the lowest level since early 2020. File photo. Photo: RNZ Buyers may look back on 2024 as a good time to have got into the property market, Corelogic says, despite the challenges. The property research firm has released its latest affordability report, which shows that some affordability measures have improved, but are still stretched compared to long-run averages. Median New Zealand property values are now 7.7 times the gross annual median household income, the lowest level since early 2020. It used to be said that a measure of three times would be considered affordable, but Corelogic chief property economist Kelvin Davidson said that was probably outdated, given the structural shift lower in interest rates over the past decade. He said the...

An offshore wind farm in the North Sea in the UK. Photo: 123RF / Ian Dyball Amid the challenges the energy sector is facing, offshore wind is one solution that could shore up future supply, according to Venture Taranaki. The regional development agency is currently hosting a delegation from the United Kingdom which wants to help unlock this country's offshore wind potential. Chairperson Kelvin Wright said with unusually low hydro-lake levels, high wholesale electricity prices and declining gas reserves, it was the right time to be thinking about offshore wind. The UK had the second-largest offshore wind market in the world, after China, and extensive experience in the elements necessary for making it a success, such as financing, local and international supply chain development, and reg...