Category: MIL-Submissions

Source: Raine & Horne

Leading real estate firm Raine & Horne Fiji predicts growth of 2-4% growth for residential markets such as Suva, Nadi and Lautoka in 2025.

Highlights:

• The Fijian real estate market demonstrated strong resilience in 2024, with sustained demand for residential properties in key urban centres, including Suva, Nadi, and Lautoka. This trend is expected to result in healthy real estate growth of up to 4% in 2025.
• The recent announcement of Google’s FJ$200 million data centre investment, expected to create 3,600 jobs, is set to significantly boost the residential real estate markets in Fiji.
• Infrastructure developments, growing tourism, and the expansion of short-term rentals continue to drive residential property demand in key locations such as Pacific Harbour.

Lautoka, Fiji – 4 February 2025 – The Fijian real estate market demonstrated strong resilience in 2024, with steady demand for residential properties in key urban centres such as Suva, Nadi, and Lautoka.

This positive trend is expected to drive healthy growth of up to 4% in 2025, according to leading real estate firm Raine & Horne Fiji. This outlook is further buoyed by the recent announcement of Google’s FJ$200 million data centre investment in the Pacific nation, which is set to bolster the local economy and real estate market.

Fiji’s real estate growth in 2024

Ms Shyamlee Raju, Managing Director of Raine & Horne Fiji, says that in 2024, there was sustained demand for residential properties, particularly in Suva, Nadi, and Lautoka, thanks to a growing number of local workers and expatriates leasing apartments.

“The rebound in tourism, combined with ongoing recovery from COVID-19 impacts, has been a major driver,” Ms Raju said.  

“Overall, real estate prices in Fiji saw moderate growth in 2024, with some areas such as Nadi and parts of Suva experiencing higher price increases due to ongoing infrastructure developments, such as improvements in transportation, utilities, and tourism-related facilities.

Google’s game-changer for Fiji’s real estate market and economic growth

One of the most significant developments in Fiji is the announcement of Google’s FJ$200 million data centre investment, which, according to the Fijian government, has the potential to create 3,600 jobs[i].

Ms Raju said, “Jobs created by the data centre will generate greater demand for residential housing, particularly for professionals moving to Fiji to work in or around the tech industry. The Google announcement could spur growth in the rental market and the demand for homes for sale.”

To illustrate, a luxurious three-bedroom penthouse in the heart of Suva within the Brightstar Apartment block on Berry Road is available for rent through Raine & Horne Fiji and is set to attract well-heeled tenants.

Ms Raju said, “This is the most sought-after executive rental property in the heart of Suva available right now, and it is within minutes of the city’s CBD, supermarkets, cafes, restaurants, schools, cinemas and the iconic Colonial War Memorial Hospital.

“This penthouse would be ideal for high-end expatriates and those interested in moving to Fiji for work.”

Other factors driving residential property demand

The demand for short-term rental properties, particularly for Airbnb holiday rentals, has contributed to rising property prices in Nadi, Suva and Lautoka.

“We have seen a growing number of apartments and properties purchased as Airbnbs, which is a hindrance for tenants looking for long-term tenancy,” commented Ms Raju.

“Most properties in Nadi are now run as Airbnbs.”

Pacific Harbour and infrastructure developments

According to Ms Raju, demand for real estate in Pacific Harbour, the tourist mecca on the south coast of Viti Levu, was a notable trend in 2024. Pacific Harbour’s natural beauty, improved accessibility to Suva, which is 50 kilometres away, and relatively affordable property prices compared to other regions drove the demand.

In November alone, Raine & Horne Fiji sold four lots in one week in Pacific Harbour, a significant achievement that underscores the confidence in this market.

Ms Raju added, “Infrastructure improvements, such as better road access to Suva and the development of tourism-related facilities, are making Pacific Harbour an attractive location for both local buyers and expatriates seeking vacation homes or retirement properties.”

Fiji’s real estate market poised for steady growth in 2025

Ms Raju is optimistic about 2025, and she is predicting growth of 2-4% across most regions of Fiji.

“While economic uncertainties and interest rates could introduce some challenges, the fundamentals of infrastructure development, tourism recovery, and increasing foreign investment provide a solid foundation for market growth,” said Ms Raju.

Raine & Horne Fiji also anticipates an increase in foreign investment in the country’s real estate market in 2025. Several factors are driving this optimism, including the upcoming Google Data Centre, will potentially attract international interest.

“Additionally, continued Fijian tourism growth is appealing to foreign buyers, particularly the luxury resorts, beachfront properties, and vacation homes,” said Ms Raju.

“Strong government support for foreign investment further underpins the longer-term outlook, positioning Fiji as an attractive real estate market for international buyers seeking opportunities in real estate.”

In response to this promising growth and outlook, Raine & Horne Fiji plans to expand its network of residential sales agents and offices to better serve local and international clients.

“We are focused on providing tailored advice to first-time homebuyers, expatriates, and foreign investors,” said Ms Raju.

“Our goal is to remain adaptable and embrace digital tools such as Raine & Horne’s first-to-market AI-powered social media marketing tool Amplify[ii] to expand market reach, keeping up with trends like sustainability and tech-driven developments.

“Raine & Horne Fiji has the expertise and resources to adapt to these trends and developments, providing clients with the insights, services, and support they need to succeed in the Fijian residential real estate market.

“With a promising outlook and a growing market, Raine & Horne Fiji is well-positioned to capitalise on the country’s real estate potential in 2025.”

Source: IHC

IHC welcomed its new IHC Group Chief Executive Andrew Crisp at a pōwhiri in Wellington on Monday morning.

More than 200 people gathered to welcome Andrew Crisp, who joins IHC from the Ministry of Housing and Urban Development.

“I was fortunate to meet with some people with intellectual disabilities before I started and I heard their request for me to step up for people with intellectual disabilities and for IHC,” Andrew says. “I will answer that call.”

Andrew joins the IHC Group at a key moment amid changes in disability funding, opportunities in social and community housing, a continued need to advocate for people’s rights and an ongoing determination for people with intellectual disabilities to have their say.

He says he has three key initial priorities. “I want to listen, first and foremost, to learn and understand the whakapapa of the organisation, I want to connect inside and outside the organisation to gather a range of perspectives and I want to work with everyone to prioritise the resources on things that will have the most positive impact on the people we support.”

IDEA Services Board Chair, and IHC New Zealand Board Member Suzanne Win formally welcomed Andrew emphasising the importance of the new role in the lives of many thousands of people looking to him to lead and make a meaningful difference in people’s lives.

She reminded everyone that just three people have held this esteemed role and have each made an impact for people with intellectual disabilities – which is our mission and calling.

“Last year IHC turned 75 and in the early years much change occurred as people with intellectual disabilities moved out of institutions and into communities,” said Suzanne. “There have been battles for equity in every policy area since – education, health, housing, employment, rights and more. It’s great to reflect on achievements, but only as we acknowledge how much more needs to be done.

“We are proud to be a rights-based organisation. People have the right to good health care and education, a good home, equitable access to services and participation, autonomy and social connection.”

Suzanne said that the organisation is excited to welcome a new champion to our sector and there are many challenges laid at his feet.

“This is more than a job,” said Suzanne. “It is history and future thinking, advocacy and consistent quality delivery, disability and housing, community connection and individual support. Much expectation and hope is resting on your shoulders,” she said.

“But you are not on your own. You join a team of thousands.

“Some of us are vocal and some of us are quiet,” she said. “Sometimes we’re excited, sometimes we’re angry, sometimes we’re worn out and sometimes we’re energised – but we’re all unwaveringly and doggedly committed to our mission and we’re proud to be here.”

Andrew already has visits to services and the wider organisation booked in the diary including to Waikato and Canterbury and he’ll be starting by visiting services and staff in Lower Hutt later this week.

About IHC New Zealand

IHC New Zealand advocates for the rights, inclusion and welfare of all people with intellectual disabilities and supports them to live satisfying lives in the community. IHC provides advocacy, volunteering, events, membership associations and fundraising. It is part of the IHC Group, which also includes IDEA Services, Choices NZ and Accessible Properties

Source: Tiriti Action Group Pōneke

This Waitangi Day, Tiriti Action Group Pōneke will stage a hīkoi from Pukeahu to Waitangi Park starting at 10am. The Hīkoi is in support of mana whenua Te Kotahitanga o Taranaki Whānui, all tangata whenua and in opposition to the ongoing attacks on Māori, on the environment and on a liveable future.

“Everyone is invited to join us in this celebration of the kotahitanga that Te Tiriti o Waitangi offers every person in this nation,” said Anaru Ryall spokesperson for Tiriti Action Group.

“Te Tiriti o Waitangi is a blueprint for a peaceful and just Aotearoa, where Māori rights and decisions are respected, and non-Māori are invited to call this beautiful place home.”

“But right now, we are facing multiple breaches of Te Tiriti o Waitangi which trample on our enduring relationship, and harms instead of heals historic injustices.”

“These breaches also limit our future aspirations as a nation where everyone has what they need for a good and dignified life, and our children have hope and opportunity.”

“Just two months ago we made history – and international news – with 100,000+ people at the Hīkoi mō Te Tiriti. That was just the beginning of our growing movement for real change.”

“Waitangi Day is another incredible opportunity for everyone in this country to remember our history, and cultivate the relationships we need to have a Te Tiriti-honouring future. This is a future that will nurture the seeds Te Tiriti planted, and ensure we can flourish together as a healthy, sustainable, equitable Aotearoa.”

The Waitangi Day Hīkoi aims to bring the local community together in the midst of the government’s assaults on Māori and their tino rangatiratanga, as well as the protections that Te Tiriti offers.

“This will be an event for the whole whānau, including tamariki, kaumatua, and everyone in the community, no matter where you are in your learning journey about Te Tiriti.”

“We urge especially Tangata Tiriti to come join us and participate in this show of kotahitanga. Our role as allies cannot be understated, and we must stand up and alongside Tangata Whenua in this troubling political climate.”  

The Hīkoi will begin with a gathering at 10am at Pukeahu (War Memorial). After speeches, the hīkoi will move down to Waitangi Park via Tory Street, in time to join the Mihi Whakatau at the official Waitangi Day events at Waitangi Park.

Organisers will set up manaaki stations at Pukeahu and Waitangi Park, with activities for tamariki, education and ‘chill space’ for rest.  

About Tiriti Action Group Pōneke:

Tiriti Action Group – Pōneke is a community group who supports actions for rangatiratanga, kotahitanga and justice in Te Upoko o te Ika  (Wellington city and Hutt Valley). We operate under the korowai of mana whenua (Te Kotahitanga o Taranaki Whānui ki te Upoko o te Ika) so that we can live based on the relationship that Te Tiriti o Waitangi promised us.

Source: MetService

Covering period of Monday 3 – Thursday 6 February – MetService is forecasting a mostly settled start to the week before a brief spell of rain moves over the South Island in time for Waitangi Day. This will bring a cooler day for the island, while sunny skies are on the cards for other parts of the country. Meanwhile, activity continues to develop in the tropics.

Monday and Tuesday offer sunny and dry weather for many parts of the country, thanks to a ridge of high pressure. While some areas may experience cloud cover at times or an isolated shower, particularly in the northern half of the North Island, as well as the lower and eastern South Island, most places can expect a summery couple of days.

Temperatures climb in the lower South Island on Wednesday, with highs in the mid to upper 20s. However, this warmth will be short-lived as a weather system approaches from the west, bringing rain at night.

MetService meteorologist Mmathapelo Makgabutlane says, “Brief rain spreads up the South Island on Thursday, bringing a cooler day for many. For the rest of the country, Waitangi Day is shaping up to be mostly settled, including in Waitangi itself.”

At the same time, MetService continues to keep a close watch on the tropics, where a couple of low-pressure systems between Australia and Vanuatu have the potential to develop into tropical cyclones. These systems may bring heavy rain to parts of Vanuatu and New Caledonia, along with strong winds and large waves across the region, including waters near Australia’s east coast.

“At this early stage, these systems appear likely to remain north of Aotearoa New Zealand as they move eastwards, but our meteorologists will continue to monitor their development,” Makgabutlane says. Further details on these systems can be found on the websites of the Fiji Meteorological Service and the Australian Bureau of Meteorology.

Back home, a new month means the latest Monthly Outlook for February is out. In short, the month is starting off on the drier side, but be watchful of any northerly lows as we approach mid-month, with the month ending on a more seasonal flavour. For the full outlook, check it out here: https://metservice.us11.list-manage.com/track/click?u=63982abb40666393e6a63259d&id=eba4f3adbc&e=852c839bf9

Source: Statistics New Zealand

Household living costs increase 3.0 percent – 3 February 2025 – The cost of living for the average New Zealand household increased 3.0 percent in the 12 months to the December 2024 quarter, according to figures released by Stats NZ today.

The 3.0 percent increase, measured by the household living-costs price indexes (HLPIs), follows a 3.8 percent increase in the 12 months to the September 2024 quarter. The most recent high was 8.2 percent recorded in the 12 months to the December 2022 quarter.

Meanwhile, inflation – as measured by the consumers price index (CPI) – was 2.2 percent in the 12 months to the December 2024 quarter, following a 2.2 percent increase in the 12 months to the September 2024 quarter. The most recent CPI high was 7.3 percent, recorded in the 12 months to the June 2022 quarter. Consumers price index (CPI) has more information.

Files:

Source: ASB

ASB has today announced decreases to some of its most popular fixed home lending rates for the second time in a fortnight, with market-leading rates on 1-year, 18-month and 2-year terms. ASB’s 2-year term falls 20 basis points to 5.29%, with its 1-year and 18-month terms at 5.54% and 5.34% respectively from today.

ASB’s Tribe Lead, Lend & Protect David Jackson says, “We’ve reduced our fixed mortgage rates 11 times since July last year, and we’re committed to doing everything we can to support our homeowners and Kiwi looking to buy.”

ASB has also reduced three of its term deposit rates by between 5 and 10 basis points.

All rate adjustments are effective immediately for new and current customers.