logo
Building Consent System Productivity On The Rise

Building Consent System Productivity On The Rise

Scoop4 days ago

Press Release – New Zealand Government
Latest data shows 92.7 percent of building consent applications and 96.8 percent of code compliance certificates were processed within the statutory timeframe in the first quarter of 2025.
Minister for Building and Construction
Processing delays for building consents and code compliance certificates have dropped since the Government began publicly releasing council performance data, Building and Construction Minister Chris Penk says.
'One of the most common frustrations I've heard from tradies and aspiring homeowners since becoming Minister is how long it takes to get the paperwork sorted before building can begin.
'Just over a year ago, I directed MBIE to start publishing quarterly performance data so the Government could dig into the problem and show how well Building Consent Authorities (BCAs) are handling consent applications.
'The decision to put performance in the spotlight is paying off, and I wish to acknowledge councils who have moved quickly to expedite consenting processes.
'Latest data shows 92.7 percent of building consent applications and 96.8 percent of code compliance certificates were processed within the statutory timeframe in the first quarter of 2025.
'That's up from 88 percent and 93.6 percent respectively when reporting began last year.
'More work is getting done. In the first three months of 2025, 31,845 building consent applications, amendments and code compliance certificates were processed – almost 1,000 more than in the same period last year.
'These improvements reveal the impact of driving accountability, and we're just getting started.
'The Government is working hard to bring in practical reforms which will streamline the consent system and make building in New Zealand easier and more affordable.
'This includes new legislation empowering trusted building professionals to sign off their own work – slashing thousands of applications to ease system pressure, and requiring BCAs to conduct 80 percent of building inspections within three working days.
'This mandatory target will help councils prioritise their workloads more effectively. I expect the requirement to come into effect later this year.
'By setting clear standards and creating a regulatory system that drives building productivity, we will see more Kiwi families move into homes faster.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Kiwi Investment Volumes On Wall Street At Near Record Levels
Kiwi Investment Volumes On Wall Street At Near Record Levels

Scoop

time14 hours ago

  • Scoop

Kiwi Investment Volumes On Wall Street At Near Record Levels

The latest figures show New Zealanders' ownership of US securities, including shares and bonds, hit US$67.1 billion in March 2025, more than double the value of five years ago. The value of Kiwi's investments in Wall Street has reached a near record high, according to new data from the US Treasury. The latest figures show New Zealanders' ownership of US securities, including shares and bonds, hit US$67.1 billion in March 2025, more than double the value of five years ago.[1] Shares in listed companies are the largest investment, with US$51.3 billion in US stocks and exchange-traded funds (ETFs) – a 152% increase over the same month in 2020. US government and corporate bonds account for another US$14.8 billion. Michael McCarthy, Australia and New Zealand CEO of share-trading platform moomoo, says the data highlights the growing scale of international reach and diversification by Kiwi investors. He says New Zealand's low interest-rate environment in recent years has pushed investors to seek higher yields abroad, especially in US equities and tech-heavy indices, which have delivered strong returns post-COVID. McCarthy says fintech platforms are now democratising entry into international markets for younger investors, who have a particular interest in US tech stocks and ETFs. 'We have seen that the relatively strong Kiwi dollar in the earlier post-pandemic period made US investments more attractive and affordable for Kiwi investors. 'There was an awareness that exposure to US assets could provide a hedge against domestic inflation and NZD depreciation, especially relevant given recent macroeconomic volatility. 'We have also seen large institutional investors, such as the NZ Super Fund and KiwiSaver providers, steadily increase their exposure to global equities to diversify risk and chase international growth,' he says. McCarthy says growing local demand from retail investors has seen them launch its trading platform in NZ this week, to lower barriers to entry by offering the lowest fees in the local market for unlimited US trades as well as the widest range of US stocks and ETFs. Founded in Silicon Valley in 2018, moomoo has grown to over 25 million users in the US, Singapore, Australia, Japan, Canada, Hong Kong and Malaysia. The platform's New Zealand launch follows its entry into the trans-Tasman market, where it recorded the most downloads of any online broker app within its first two years. Kiwi traders will now be able to trade more than 22,000 stocks and ETFs across the US, Australia and Hong Kong, including more than 15,000 US stocks and ETFs for only US$99c per trade (NZ$1.66). McCarthy says the platform has been designed to accommodate both novice and experienced investors. 'One of the unique features of moomoo is its ability to enable 'social investing', whereby the online community of global users are able to support and learn from one another, including sharing investing ideas and insights on stocks. 'This allows everyone from beginners to seasoned investors to learn investment strategies and share this experience with other users around the world. We also offer structured learning experiences and additional educational resources to assist users on their investment journey.' McCarthy says these resources help investors explore market trends, identify opportunities and make informed decisions that align with their risk levels and goals. He says the platform also allows 24-hour US trading, every trading day, eliminating significant time zone barriers to enable local investors to capitalise on opportunities at any time. 'The US Treasury data shows New Zealand has a strong investing culture, and we see growing demand for more sophisticated tools that empower retail investors to navigate global markets with confidence. 'We are able to provide real-time market data, AI-powered analytics, advanced charting tools and curated news from financial media outlets. These features help reduce the complexity of financial markets into intuitive, actionable insights that are integrated into the platform's interface. McCarthy says as part of its New Zealand launch, moomoo is offering new users $0 commission trading on Australian and US stocks for the first 30 days, with free reward stocks for users upon eligible deposits. He says with the moomoo app now available in New Zealand, local investors can also access options trading and dividend reinvestment plans for US stocks, catering to the diverse investment needs of New Zealanders. . Accessed June 1, 2025.

The House: Parliamentary week achieves two out of three goals
The House: Parliamentary week achieves two out of three goals

RNZ News

time15 hours ago

  • RNZ News

The House: Parliamentary week achieves two out of three goals

Still, two out of three isn't bad. Photo: 123RF While Parliament's week was dominated by its final event - Thursday's debate on the report from the Privileges Committee into a haka performed in the chamber - the rest of the week focussed on other business that, while more mundane, was still worthy of note. The Government appeared to have three objectives for this week in the house. Crucial to the administration's continuance, the first goal was to successfully complete the initial debate on the budget. The long initial budget debate could no longer dribble on over weeks, so the house spent six hours of the week completing the second reading debate, which is the first debate a budget gets. The reading was accomplished and so the Government continues. This may sound silly, but a Government cannot survive, if the house votes against its budget. Agreeing to vote for budget and taxation bills are the 'supply' portion of the 'confidence and supply' agreement that is the foundation of any coalition agreement. The budget focus now turns to select committees and what is called 'Scrutiny Week', when ministers appear before various subject committees to defend their budget plans. Scrutiny Week begins on 16 June. A second objective was possibly not in earlier plans for this week - to finally polish off the bills originally slated for completion two weeks ago during budget week urgency. Then, the Leader of the House had asked the house to accord urgency for 12 bills the Government hoped to progress through 30 stages of parliamentary debate. The plan was ambitious and it did not succeed. Despite day-long sittings until midnight Saturday (when urgency must end), only two bills were completed, others were untouched, and 13 stages were unfinished or unstarted. This week's plan for the house had MPs returning to the well for more of the same. Just like last time, progress was at a snail's pace. After quite a few hours, the Government had slugged its way through just a few more stages. The plan was slowed to a crawl by bills' committee stages (formally known as the Committee of the Whole House). Committee stages are a crucial way for MPs to publicly interrogate the minister in charge of a bill. With patience, they can tease out a lot about both a government's development of legislation and its intended real-world impacts. Te Pāti Māori co-leader Rawiri Waititi moved the vote on his own punishment. Photo: RNZ/Mark Papalii Because the committee stage has no set duration, it is also a way for the opposition to make the Government really work for progress. The Government did achieve progress on the bills left incomplete from budget week, but again, it was probably not what was hoped for. They will need to come back yet again in three weeks to have a third crack. The Opposition is showing itself to be quite effective at the filibuster. The Government's third objective was to have the debate on the recent Privileges Committee Report on three Te Pāti Māori MPs done by the week's end. As Leader of the House Chris Bishop said in re-initiating the debate: "My encouragement would be for everybody to finish this debate today. "Have a robust debate, but let's end this issue once and for all, and deal with the issue and get back to the major issues facing this country." That wish was fulfilled with apparent agreement from across the house. As 6pm neared, the MP who eventually moved that a vote be taken was Te Pāti Māori co-leader Rawiri Waititi. The frankly fascinating debate on the report will be reported separately. - RNZ's The House, with insights into Parliament, legislation and issues, is made with funding from Parliament's Office of the Clerk. Enjoy our articles or podcast at RNZ. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store