Weekly Digest – 21 December 2022

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

Some house prices are still rising despite the downward trend

Prices for lifestyle properties and more affordable housing are defying the downward trend in values, with 38 of the 66 suburbs seeing a median price rise of more than 1 per cent in the past three months.

Kiwis warned to check their finances to prepare for 2023

ASB’s December quarterly economic forecast predicted New Zealand would enter a recession in 2023. Accordingly, they advised New Zealanders to get their loan structure right and take a hard look at their spending and saving levels.

Hundreds going without their luggage at Auckland Airport

Passengers passing through the airport have been waiting for weeks to be reunited with their luggage. An airport staff member said that only one employee was manning the Swissport lost baggage desk and that hundreds of bags were inside the terminal.

Is unaffordable housing causing young people to turn to crypto?

According to UBS chief economist Paul Donovan, young people are gambling on crypto, meme stocks, and other speculations because homeownership has become an unrealistic dream for millions of young adults worldwide.

185-year-old David Jones brand coming back under Australian ownership

Australian department store chain David Jones will be back under Australian ownership after being bought by a private equity firm. South African-based Woolworths Holdings Limited bought David Jones in 2014 for $2.1bn.

FTX founder agrees to extradition

Sam Bankman-Fried has agreed to voluntary extradition to the United States from the Bahamas, with his next court appearance expected to happen this week. He was charged with eight counts of wire fraud and conspiracy.

Conditions might be right for better-than-average Boxing Day deals

Boxing Day is one of New Zealand’s busiest shopping days, but the retail sector is seeing increasing restraint by shoppers. However, the best deals will probably be in appliances and electronics, where specific goods are back in good supply, but demand has slowed.

New pricing rules suggested are meant to help shoppers compare prices

The Commerce Commission recommended that supermarkets prominently display the price per weight or price per litre of groceries to make it easier for shoppers to compare prices.

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