NZ Economy

Old Jun 16th 2008, 1:11 pm
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Default NZ Economy

Hi Guys
Seeing as the economic outlook for the UK is bleak to say the least I thought I
would post on here and try and get a shop floor outlook on the state of the NZ
economy.

I could review various media sources but as most of us know they are not a true representation of real life.

Regards
THE COW >:O)
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Old Jun 16th 2008, 3:31 pm
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Default Re: NZ Economy

Originally Posted by Cowtipper View Post
Hi Guys
Seeing as the economic outlook for the UK is bleak to say the least I thought I
would post on here and try and get a shop floor outlook on the state of the NZ
economy.

I could review various media sources but as most of us know they are not a true representation of real life.

Regards
THE COW >:O)
Hey

Sorry Cow, cant be of much help i'm afraid..

Although i do believe that NZ is experiencing the same problems as the UK at the moment. Fuel prices are rising and as a result food etc is increasing in price.

In fact i think its a worldwide issue just now. Including the housing market having problems and interest rates increasing.

Anyway, there are loads of people living there and experiencing it first hand so i am sure they will give u a true account of the NZ economy!

C xx
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Old Jun 16th 2008, 6:56 pm
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Default Re: NZ Economy

The posts will probably start flooding in now as we are all just waking up over here!

Hubby and I own businesses we have a house and two kids so can probably give a fair assessment as to the state of the economy at present.

Over the past 6 months the businesses are slowly getting quieter. My business deals directly with the public whilst my husband deals with clients from large corporate companies. BOTH have been affected.....This means many many sleepless nights and I can tell you that I have not slept properly for weeks.

People are just not spending the money any more. With intrest rate rises and the cost of fuel etc most people are really beginning to feel it. The amount of mortgagee sales have jumped up hugely where I live and from my point of view the outlook over here is quite grim. We cannot see light at the end of the tunnel. People are not employing like they were and more people are being laid off. Where possible my friends in business are using casual labour if they get any extra work come their way rather than employing someone.

People are worried. Things are getting more and more difficult. The only people I know who are doing OK at the moment are the ones with very small or no mortgages.

Financially I have always thought that NZ was a difficult place to be because the wages don't match what you need to spend on everyday items and living accomodation. For us its a case of keeping our head above water for the time being and keep our fingers crossed that we can ride out the storm.
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Old Jun 16th 2008, 7:23 pm
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Default Re: NZ Economy

Originally Posted by NZGrl View Post
The posts will probably start flooding in now as we are all just waking up over here!

Hubby and I own businesses we have a house and two kids so can probably give a fair assessment as to the state of the economy at present.

Over the past 6 months the businesses are slowly getting quieter. My business deals directly with the public whilst my husband deals with clients from large corporate companies. BOTH have been affected.....This means many many sleepless nights and I can tell you that I have not slept properly for weeks.

People are just not spending the money any more. With intrest rate rises and the cost of fuel etc most people are really beginning to feel it. The amount of mortgagee sales have jumped up hugely where I live and from my point of view the outlook over here is quite grim. We cannot see light at the end of the tunnel. People are not employing like they were and more people are being laid off. Where possible my friends in business are using casual labour if they get any extra work come their way rather than employing someone.

People are worried. Things are getting more and more difficult. The only people I know who are doing OK at the moment are the ones with very small or no mortgages.

Financially I have always thought that NZ was a difficult place to be because the wages don't match what you need to spend on everyday items and living accomodation. For us its a case of keeping our head above water for the time being and keep our fingers crossed that we can ride out the storm.
Life definitely has gotten financialy harder here over the last 3 years. But I understand thats the world all over. I do not believe that we would fell any different anywhere else in the world. Infact due to the perilous state of the globe I am actually VERY glad that I am in NZ....if I was in the UK we would be finding it even harder by comparison to our monthly outgoings and income.

So I would certainly not put off anyone coming..so long as you have done the maths..apart from some crap housing stock, the isolation from the rest of the world and all the other problems NZ has one of the biggest issues for folk on here seems to be money issues.

I personally would never take on emigration unless I had all my sums worked out. Its all a bit of a drain moving kids, homes etc and the last thing you need is a fiscal headache!! Good luck.
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Old Jun 16th 2008, 10:02 pm
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Default Re: NZ Economy

Hi Cow,


I agree with the other postees.
The kiwi`s that I have met run on a pretty tight budget. I know of one couple, who both work full time, run it so tight that their treat (which they haven`t had for a while) is a take away on a friday night. I would say that this is not unusual.
My own thoughts are that this is just the start of a slow economic depression. Every week in the property press there are more and more price reductions with agents using phrases like "desperate" and "bank says sell". With food and petrol prices on the rise and wages remaining still, I cant see a sudden recovery.
Just my 2 pennies worth.
Ash
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Old Jun 17th 2008, 4:04 am
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Default Re: NZ Economy

Originally Posted by Ash1 View Post
Hi Cow,


I agree with the other postees.
The kiwi`s that I have met run on a pretty tight budget. I know of one couple, who both work full time, run it so tight that their treat (which they haven`t had for a while) is a take away on a friday night. I would say that this is not unusual.
My own thoughts are that this is just the start of a slow economic depression. Every week in the property press there are more and more price reductions with agents using phrases like "desperate" and "bank says sell". With food and petrol prices on the rise and wages remaining still, I cant see a sudden recovery.
Just my 2 pennies worth.
Ash
Totally agree with Ash.

Salaries going nowhere prices reaching for the stars and purses feeling the pinch. Financially we were better off in the UK way better off, it's not just the salary drop it's the hike in prices. Even since arriving in January the price of food has shot up as well as petrol.

We would not survive if we rented or had a mortgage. We won't be able to afford a holiday for the first time in 20 years. We usually managed 2 a year.

Thought nothing of going out for the night, sirloin whenever I felt like cooking it (fact). Now it's a treat to look at sirloin in the packet (slight exageration on the sirloin).

When I first arrived I would shop around, do my own price checks on supermarket products which I purchase regularly. Go to Woolworths which is not cheap and following visit Pak n Save (cheap supermarket), I'd find the
product the same price or more expensive. It took me awhile to cotton onto the fact that it was just general price increases, they literally happen overnight. One product I buy cost 59c the next day I went for some more and it was 72c. This is not atypical

On the positive side

In the UK you go on holiday for the sun, you have that here.

Everyone is in the same boat

If your going to be skint it might as well be somewhere sunny.

You don't have to drive far for a day out.

Tourist sites not as commercial, nearly everyone takes a chilli bin.

Grow your own fruit and veg virtually all year.

For all the negatives price wise the positives do make up for them.

I'm happy
Pauline
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Old Jun 17th 2008, 5:59 am
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Default Re: NZ Economy

[B[/B]
Originally Posted by Ash1 View Post



Just my 2 pennies worth.
Ash
Are you flashing the cash, Ash, with 2 pennies to rub together!!!
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Old Jun 17th 2008, 10:12 am
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Originally Posted by Liz & Co View Post
[B[/B]
Are you flashing the cash, Ash, with 2 pennies to rub together!!!
you know me liz. haven`t got a lot to rub together!!!!!!
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Old Jun 17th 2008, 10:34 am
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Default Re: NZ Economy

Originally Posted by Cowtipper View Post
Hi Guys
Seeing as the economic outlook for the UK is bleak to say the least I thought I
would post on here and try and get a shop floor outlook on the state of the NZ
economy.

I could review various media sources but as most of us know they are not a true representation of real life.

Regards
THE COW >:O)
I think its all doom and gloom worldwide at the moment. In a direct comparison between NZ and UK I would think has NZ has a particular advantage in that it is self governing. NZ can make its own decisions economically and hopefully (given the correct leadership!!) it can make the correct ones. Unfortunately Britain can only make econonic decisions which are acceptable to the EU and may not be in the best interest of UK PLC. Oh how I miss the European Union that we all loved and voted for !!!!
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Old Jun 17th 2008, 1:31 pm
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Default Re: NZ Economy

Remember lots of NZ produce and goods have to come along way.....

Global fuel prices will hit this alot, it will cost more to shop stuff from NZ and more to ship it to NZ

Basically the economy is tanking along with the UK one, inflation will go up due to cost of goods, which is a bit of a mare considering the way to combat that is to increase interest rates!!!!
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Old Jun 17th 2008, 1:52 pm
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Default Re: NZ Economy

If its any consilation for all those already in NZ, the UK's prices are going through the roof as well and like NZ wages aren't going up. My hubby earns a decent enough wage but we scrimp and scrap each month month now- I can't get my shopping bill below £100 a week and I only have 3 of us to feed during the week - believe me I don't shop in expensive shops, buy anything extravagant and I take a list and stick to it! It's the basics for us but fruit and veggies are expensive so we are now growing our own as dug up some of the garden and looking forward to a good crop in a couple of months! Gas and electric are due another huge rise this year so that is even more expense! Interest rates are climbing as well! Sounds like the NZ is just the same as every other country except you have better weather in your winter than we are having in our summer - so you definetely got a plus on us there LOL

We now don't go out in the car unless we have to - last week I made one trip out to the garden centre last week as petrol prices are through the roof - we are now paying £1.32 a litre on diesel! this mornings news stated that one garage in the West Country was charging £1.99 a litre for diesel - what a bloody rip off- just can't afford to fill the car so are stuck in the house most of the time - not too bad as we live in the countryside so walks and trips to the play park are often on the agenda these days! We desperately need a second car as I start Uni in September and when I'm there hubby is going to be stuck in with the little one but we just can't afford it - will get him a pully along thing to go on the back of his bike so he can take her out! Get him fit at the same time!

Guess we can all moan about our countries economy at the moment but it seems to be the same everywhere. The only good thing for us is if it stays like this for the next couple of years and house prices in NZ falls that's all the better for us when we move across - not good though for those who already have a house.
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Old Jun 17th 2008, 2:26 pm
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Default Re: NZ Economy

I think the most important thing that would make NZ more managable and more enjoyable for many is for house prices to come down by fifty per cent, and the rents to come down by a third. This is essential if folks are to survive long term on the low wages here.
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Old Jun 17th 2008, 2:26 pm
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Default Re: NZ Economy

Originally Posted by Tracy24 View Post
If its any consilation for all those already in NZ, the UK's prices are going through the roof as well and like NZ wages aren't going up. My hubby earns a decent enough wage but we scrimp and scrap each month month now- I can't get my shopping bill below £100 a week and I only have 3 of us to feed during the week - believe me I don't shop in expensive shops, buy anything extravagant and I take a list and stick to it! It's the basics for us but fruit and veggies are expensive so we are now growing our own as dug up some of the garden and looking forward to a good crop in a couple of months! Gas and electric are due another huge rise this year so that is even more expense! Interest rates are climbing as well! Sounds like the NZ is just the same as every other country except you have better weather in your winter than we are having in our summer - so you definetely got a plus on us there LOL

We now don't go out in the car unless we have to - last week I made one trip out to the garden centre last week as petrol prices are through the roof - we are now paying £1.32 a litre on diesel! this mornings news stated that one garage in the West Country was charging £1.99 a litre for diesel - what a bloody rip off- just can't afford to fill the car so are stuck in the house most of the time - not too bad as we live in the countryside so walks and trips to the play park are often on the agenda these days! We desperately need a second car as I start Uni in September and when I'm there hubby is going to be stuck in with the little one but we just can't afford it - will get him a pully along thing to go on the back of his bike so he can take her out! Get him fit at the same time!

Guess we can all moan about our countries economy at the moment but it seems to be the same everywhere. The only good thing for us is if it stays like this for the next couple of years and house prices in NZ falls that's all the better for us when we move across - not good though for those who already have a house.

Tracy, I know exactly what you mean!

There are the 2 of us and 2 kids at school. Hubby works full time and i work part time. We both earn reasonably good salaries and still are finding it hard!

I havent a clue how i can spend £120 a week in asda and get almost nothing and then have to go to the local shop 3 days later! I get my cleaning stuff and meat from Costco and i still spend over the odds in the supermarket!

We have been doing more walkin recently and have been tryin to use the car less. Hubby bought a bike to get to work and we sold the second car!

Part of my family live in South Africa and they are feelin it too. Their food costs are awful and they are all struggling to make ends meet too.

Its defo a worldwide problem due to the rising cost of oil!!

C xxx
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Old Jun 17th 2008, 2:48 pm
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Default Re: NZ Economy

So all in all both economies are tanking

house prices are falling

rent costs are rising

and inflation is distroying saving

Oh and its too expensive to travel

Joy joy
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Old Jun 17th 2008, 6:13 pm
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Default Re: NZ Economy

Here's an article from the FT. Quite interesting .. http://www.ft.com/cms/s/0/f3b25bb4-3...nclick_check=1
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