A 30% rate rise bomb is ticking

Repair costs on Wellington Town Hall keep blowing out. (Image: NZME)

Sat, 16 Dec 2023

Thirty percent.It is conceivable that rates will increase that much over the coming two years.I’m putting it on the table to drive realism.Household rates were up almost 10% in the year to September while dwelling insurance costs rose 21%, a double whammy to homeowners and property investors alike, with those sorts of numbers having a material impact on cashflow. Hamilton ratepayers are already facing a 25.5% potential rise, Wellington city residents around 15% and 20%, following prior year double-digit increases, a reflection of a c...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Primary Sector

Alliance Group on path back to profit

It now needs north of $200 million of capital to restore its balance sheet.

Riley Kennedy 5:00am

Finance

PEP seeking payday from UP Education

UP Education is a NZ success story in Australia.

Pattrick Smellie 5:00am

Technology

Tax tech startup Lodg signs up 2,000 customers in five months

The company says tax is an endless cashflow problem for many sole operators.

Greg Hurrell 5:00am

Tax tech startup Lodg signs up 2,000 customers in five months

Sponsored

“Not an invisible footprint”: Why technology supply chains need optimising

Outdated hardware is a supply chain and cost risk.

Datacom

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

More Finance

Finance

PEP seeking payday from UP Education

UP Education is a NZ success story in Australia.

Pattrick Smellie 5:00am

Finance

FNZ extends controversial catch-up offer

Fintech FNZ has extended its deadline for “catch-up” equity offers, as employee shareholders say discontent grows.In March, the global fintech offered its class B shareholders a “catch-up” offer after it revealed their holdings could be massively diluted following its August capi...

Victoria Young 16 Apr 2025