Weekly Digest – 22 March 2023

Weekly Digest – 22 March 2023

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

NZ stocks creep downward amid market turmoil

New Zealand and other Asia Pacific markets opened the week by reacting to the turmoil caused by bank collapses in the United States. New Zealand indexes slipped 1.5 per cent on average.

Relief as Credit Suisse and UBS strike a deal

Though not out of the woods yet, experts feel that the UBS-Credit Suisse deal should do a great deal to curb an impending worldwide financial crisis. In an all-share deal, UBS will pay 3 billion Swiss francs ($4.5 billion) for its former rival.

Why didn’t the recent cash rate rise cause home loan rates to increase?

Home loan borrowers dodged the Reserve Bank’s February official cash rate increase, with the average three-year special mortgage rate down from 6.68% in January. Find out how that works here.

What New Zealand’s median house price gets you elsewhere in the world

New Zealand’s housing market downturn has been steep, but the price correction might cause people to think twice before looking overseas for cheaper options. Stuff took a look at what Kiwis would be able to afford in other corners of the world for a comparable price.

Where the best housing deals are in New Zealand

Believe it or not, there are places left in New Zealand where you can find a 3-bedroom house for less than $400,000 – a bargain in relative terms. And these homes have plenty to offer.

Explore the data behind rising costs with the Herald’s interactive price tracker

New Zealanders feel the pressure of the cost-of-living crisis as inflation and high food prices reach a 30-year high. The Herald has created an interactive price tracker that shows how food prices have increased by 12 per cent in the past year.

Househunter turns to second-hand materials to build a home

Architect Penny Durdle is hoping to save between $50,000 and $100,000 through her efforts and says she gets a lot of satisfaction from acquiring materials cheaply. She says one man’s trash is another man’s treasure.

Whitaker’s forced to increase prices

The beloved New Zealand chocolate brand is the latest victim of inflation. The company announced that prices would increase immediately as production costs continue to rise.

Spotify Discovery Mode met with backlash

Under Discovery Mode, artists can submit tracks to Spotify for consideration to be included in its radio and autoplay features. In exchange, they receive a lower royalty rate for streams of their music. However, users and artists aren’t happy with the update.

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