Colossal rate hikes are looming for homeowners as councils contend with rising construction and insurance costs. 

Local Government New Zealand says rates around the country will rise by an average of 15%.

It says the main factor contributing to the rates escalation is the costs of civil construction. 

Vice President Campbell Barry told Mike Hosking that these costs are 20% higher now than predicted, and that’s on top of inflation. 

He says bridges have gone up around 36% over the last three years, and similar increases are seen with roads and water networks.

LISTEN ABOVE

Colossal rate hikes are looming for homeowners as councils contend with rising construction and insurance costs.  
Local Government New Zealand says rates around the country will rise by an average of 15%.
It says the main factor contributing to the rates escalation is the costs of civil construction.  
Vice President Campbell Barry told Mike Hosking that these costs are 20% higher now than predicted, and that’s on top of inflation.  
He says bridges have gone up around 36% over the last three years, and similar increases are seen with roads and water networks. 
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Campbell Barry: Local Government NZ Vice President on the looming rate hikes to contend with rising construction costs

Listen to the Early Edition with Ryan Bridge Full Show Podcast for Friday 29 May.

Get the Early Edition with Ryan Bridge Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.

Listen to the Early Edition with Ryan Bridge Full Show Podcast for Friday 29 May. 
Get the Early Edition with Ryan Bridge Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.

Full Show Podcast: 29 May 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9c30c5a1-0159-4cac-a464-b458012ac7f5/transcript

The ACT Party is defending voting in favour of homeschooling legislation before it was scrapped after pushback from families. 

The amendments announced last week would've increased checks on children taught at home. 

Education Minister Erica Stanford now concedes homeschooling is more complex than first thought. 

ACT's Laura McClure told Ryan Bridge they were rushed into voting for it. 

She says they didn't have a lot of time to consider the changes and how they would've worked, and whether the homeschooling community was given enough of a say. 

LISTEN ABOVE 

The ACT Party is defending voting in favour of homeschooling legislation before it was scrapped after pushback from families.&nbsp;
The amendments announced last week would've increased checks on children taught at home.&nbsp;
Education Minister Erica Stanford now concedes homeschooling is more complex than first thought.&nbsp;
ACT's Laura McClure told Ryan Bridge they were rushed into voting for it.&nbsp;
She says they didn't have a lot of time to consider the changes and how they would've worked, and whether the homeschooling community was given enough of a say.&nbsp;
LISTEN ABOVE&nbsp;

Laura McClure: ACT Education Spokesperson on the Government backing down from changing homeschool laws

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9341f328-e7ef-42c9-9aef-b457017f4123/transcript

ASB chief economist Nick Tuffley says the window for low mortgage rates has closed, with multiple Official Cash Rate hikes expected later this year following the Reserve Bank’s decision to hold the rate at 2.25% yesterday. 

The RBNZ's Monetary Policy Statement said Official Cash Rate (OCR) increases would likely be required this year, predicting inflation would peak at 4.3% in the September quarter before returning to 2% mid-2027. 

Tuffley told Ryan Bridge people had been fixing their mortgages at higher interest rates since it became clear that there would be no further cuts to the OCR and it would soon start increasing. 

The Monetary Policy Committee was predicting the average interest rate on outstanding mortgages would climb to 5.3% over the next year, up from 4.9% in March. Tuffley said that increase was “not too dramatic” although the impacts would show up slowly. 

“Your window for a low mortgage ... really did slam shut late last year, and unfortunately we’ve already seen rates that have climbed to some degree and that will continue.” 

LISTEN ABOVE 

ASB chief economist Nick Tuffley says the window for low mortgage rates has closed, with multiple Official Cash Rate hikes expected later this year following the Reserve Bank’s decision to hold the rate at 2.25% yesterday.&nbsp;
The RBNZ's Monetary Policy Statement said Official Cash Rate (OCR) increases would likely be required this year, predicting inflation would peak at 4.3% in the September quarter before returning to 2% mid-2027.&nbsp;
Tuffley told Ryan Bridge people had been fixing their mortgages at higher interest rates since it became clear that there would be no further cuts to the OCR and it would soon start increasing.&nbsp;
The Monetary Policy Committee was predicting the average interest rate on outstanding mortgages would climb to 5.3% over the next year, up from 4.9% in March. Tuffley said that increase was “not too dramatic” although the impacts would show up slowly.&nbsp;
“Your window for a low mortgage ... really did slam shut late last year, and unfortunately we’ve already seen rates that have climbed to some degree and that will continue.”&nbsp;
LISTEN ABOVE&nbsp;

Nick Tuffley: ASB Chief Economist on the Reserve Bank's decision to hold the OCR at 2.25%

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b033d894-5e36-465d-a12f-b457017b96bd/transcript

Campbell Barry: Local Government NZ Vice President on the looming rate hikes to contend with rising construction costs

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