Airbnb rates in Christchurch have fallen for the first time in five years, as hosts flood the market before the new stadium opens.

The Press reports average short-term rental income dropped to $105 a night last year - down $2 annually.

Construction market analyst Mike Blackburn says multi-unit builds are dominating the city, with some apartments just 39 square metres with no carpark.

"These are units that are part of 20 or 30 units in a block, and they're specifically being built and being marketed and sold as Airbnb units."

LISTEN ABOVE

Airbnb rates in Christchurch have fallen for the first time in five years, as hosts flood the market before the new stadium opens.
The Press reports average short-term rental income dropped to $105 a night last year - down $2 annually.
Construction market analyst Mike Blackburn says multi-unit builds are dominating the city, with some apartments just 39 square metres with no carpark.
"These are units that are part of 20 or 30 units in a block, and they're specifically being built and being marketed and sold as Airbnb units."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Mike Blackburn: construction market analyst on Airbnb rates in Christchurch dropping

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/277dbefb-a4e1-4f10-90e2-b3f300417f13/transcript

More evidence of an improving economy, based on the amount of freight hitting our roads.

Freight company Freightways is reporting a 17 percent rise in half-year profit.

Chief executive Mark Troughear says they're starting to see optimism return, slowly and steadily.

"It's a good result, and that's a bit of market share gains - Australia is going really well for us. But in New Zealand, you're just starting to see customers trade a little bit up on what they did last year."

LISTEN ABOVE

More evidence of an improving economy, based on the amount of freight hitting our roads.
Freight company Freightways is reporting a 17 percent rise in half-year profit.
Chief executive Mark Troughear says they're starting to see optimism return, slowly and steadily.
"It's a good result, and that's a bit of market share gains - Australia is going really well for us. But in New Zealand, you're just starting to see customers trade a little bit up on what they did last year."
LISTEN ABOVE

Mark Troughear: Freightways chief executive on the company reporting a 17 percent rise in half-year profit.

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b42136b6-2f0c-4dc3-9118-b3f30059c664/transcript

The Prime Minister says Labour's concerns with the India Free Trade Agreement is "politicking", and Chris Hipkins wanting attention. 

Labour's saying they want the un-redacted advice about the deal and greater protection for migrant workers. 

In a letter to Chris Luxon, Chris Hipkins wants more clarity about the clause which requires New Zealand business to invest $33billion into India. 

Luxon told Mike Hosking that none of their concerns are real problems. 

LISTEN ABOVE

The Prime Minister says Labour's concerns with the India Free Trade Agreement is "politicking", and Chris Hipkins wanting attention.&nbsp;
Labour's saying they want the un-redacted advice about the deal and greater protection for migrant workers.&nbsp;
In a letter to Chris Luxon, Chris Hipkins wants more clarity about the clause which requires New Zealand business to invest $33billion into India.&nbsp;
Luxon told Mike Hosking that none of their concerns are real problems.&nbsp;
LISTEN ABOVE

Chris Luxon: Prime Minister responds to calls for clarity from the opposition around India trade agreement

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e24cddde-e4ba-4877-bac8-b3f20138f2d6/transcript

Greg Foran is back where I suspect he belongs, and likes.

The former Air New Zealand boss, if you have missed it, is off to Kroger, which is America's second biggest grocer behind Walmart.

I have never met a New Zealander who has worked in America that belongs in America more. It was evident from the first time I met him that he was American.

You can spot them in their shirts and ties. They are conservative and yet impeccably pressed. He looked like he had starched himself getting out of bed each morning.

The last time he was in here, his farewell interview, we talked off air about where now. He didn’t say specifically, but I knew it was America.

The bit he never explained, probably because he either couldn’t for commercial reasons, or couldn’t because he hadn't quite worked it out for himself, was what the hell he was ever doing back in New Zealand.

I asked him any number of times in a sort of non-direct way, what on earth was it about a small airline at the bottom of the world that would drag you out of Walmart to come and run it?

Possibly given he wasn’t running Walmart, it was a job in which he was running something so his CV would show a Kroger in years to come that he was ready to be boss.

At Walmart he lived in Arkansas and flew in private jets.

In New Zealand he kept having to explain why the Wellington to Taupo plane never took off.

The Covid thing must have been the nightmare from hell and it wasn’t his fault.

But even without it and the myriad of problems he faced, including the inexplicable cluster around engines that no airline anywhere seems to have encountered the way Air New Zealand has, you always got the impression he was either here for a short time, or it had all been a patriotic mistake driven by a laudable desire to return to home base and make some sort of contribution.

But I can tell you this, of all the Air New Zealand CEO's I have known - business legend Ralph Norris, marketing genius Rob Fyfe, Prime Minister Chris Luxon and Greg Foran - no one looked less at home and more bewildered than Greg.

Some people loved him because he was often at the airport checking their backs in, so work ethic was never the issue.

The issue was Air New Zealand wasn’t American. I bet you he has never been happier, or more relieved.

LISTEN ABOVE

Greg Foran is back where I suspect he belongs, and likes.
The former Air New Zealand boss, if you have missed it, is off to Kroger, which is America's second biggest grocer behind Walmart.
I have never met a New Zealander who has worked in America that belongs in America more. It was evident from the first time I met him that he was American.
You can spot them in their shirts and ties. They are conservative and yet impeccably pressed. He looked like he had starched himself getting out of bed each morning.
The last time he was in here, his farewell interview, we talked off air about where now. He didn’t say specifically, but I knew it was America.
The bit he never explained, probably because he either couldn’t for commercial reasons, or couldn’t because he hadn't quite worked it out for himself, was what the hell he was ever doing back in New Zealand.
I asked him any number of times in a sort of non-direct way, what on earth was it about a small airline at the bottom of the world that would drag you out of Walmart to come and run it?
Possibly given he wasn’t running Walmart, it was a job in which he was running something so his CV would show a Kroger in years to come that he was ready to be boss.
At Walmart he lived in Arkansas and flew in private jets.
In New Zealand he kept having to explain why the Wellington to Taupo plane never took off.
The Covid thing must have been the nightmare from hell and it wasn’t his fault.
But even without it and the myriad of problems he faced, including the inexplicable cluster around engines that no airline anywhere seems to have encountered the way Air New Zealand has, you always got the impression he was either here for a short time, or it had all been a patriotic mistake driven by a laudable desire to return to home base and make some sort of contribution.
But I can tell you this, of all the Air New Zealand CEO's I have known - business legend Ralph Norris, marketing genius Rob Fyfe, Prime Minister Chris Luxon and Greg Foran - no one looked less at home and more bewildered than Greg.
Some people loved him because he was often at the airport checking their backs in, so work ethic was never the issue.
The issue was Air New Zealand wasn’t American. I bet you he has never been happier, or more relieved.
LISTEN ABOVE

Mike's Minute: Greg Foran is back where he belongs

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a6f1c4a9-e43a-4add-b95f-b3f0013b7da5/transcript

Mike Blackburn: construction market analyst on Airbnb rates in Christchurch dropping

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