According to new data from the Reserve Bank of New Zealand (RBNZ), banks approved just 8,680 new mortgages in January, which was the lowest number in any month of the year on record and less than one-third the 2021 peak (i.e. 31,282 in March 2021):The value of mortgages written has likewise collapsed. The reason behind the collapse in mortgage demand is obvious: the RBNZ’s aggressive monetary tightening, which has lifted the official cash rate (OCR) from 0.25% in September 2021 to 4.75% currently:These rate hikes have roughly doubled New Zealand’s mortgage rates (see below chart) alongside driven national house prices down by 16%. In doing so, the RBNZ forecast a sharp 2% increase in unemployment alongside a 23% peak-to-trough decline in house prices. Given that dark prognosis from the country’s central bank, there is little wonder New Zealand mortgage holders have run for the hills.

The New Zealand All Blacks Sevens showed their prowess on the field once again with a 22-12 victory over Argentina in the Los Angeles Sevens final today. The New Zealanders started off strongly, with a try from long-range scorer Moses Leo followed by a pair from Leroy Carter. The New Zealanders were previously defeated by Argentina in the Hamilton final last month, however they were determined to finish strong in their back-to-back title on the World Sevens Series circuit. New Zealand faced off against Britain, claiming a 24-12 victory, before trouncing Australia 33-17 in the semifinals. The World Sevens Series moves to Vancouver next weekend, with both men’s and women’s tournaments taking place.

Five hours later, queues of locals and tourists are lined up, ready to feast on some of New Zealand's best doughnuts. But if you have a sweet tooth, you need to head to Knead, which has a wholesome story behind it. Brook Sabin/Stuff Owner Erin Benton considers herself a “casual” in the shop, and is usually doing admin and social media. With legions of fans at markets around Taranaki, Benton "took the leap" and decided to open her own store. Brook Sabin/Stuff Knead sells around 1200 doughnuts a day.

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By Chris Trotter*The National Party stands at the beginning of an unsealed track which, if followed, might just lead it to victory. Labour, meanwhile, may find that its road to October has been closed. Making everything worse, are the public misgivings about the way Labour is handling the aftermath of Cyclone Gabrielle. For Chris Hipkins and Labour, the state highway to October has been rendered impassable by inaction and political slash. Christopher Luxon and National, meanwhile, have discovered an unsealed road without slips and fallen trees.

Weed-infested wasteland transformed into whitebait spawning areaWest Coast Conservation Board members and DOC staff walk across an existing bridge near the Hokitika River, with walkways through the site being improved and extended. Photo BRENDON MCMAHON/LDR[/caption]A Jobs for Nature project just metres from a West Coast’s town centre is transforming what has been a weed-infested wasteland alongside the town’s river. Wadeson Island has a long history of human use and damage dating back more than 150 years of European settlement in Hokitika. But now the mix of a recreation reserve, administered by the Westland District Council, and stewardship land administered by the Department of Conservation (DOC), is being transformed to highlight the key role it has locally as a whitebait spawning ground. The project is also gradually restoring a piece of Hokitika’s hinterland to a more natural indigenous space, with species typical of a West Coast coastal-river wetland starting to emerge.

The NZSO is joined by American mezzo-soprano and two-time Grammy Award winner Sasha Cooke and 80-strong women and children’s choirs to present Mahler’s masterpiece on a grand scale. Praised by The New York Times and Opera News, she last sang with the NZSO in 2018 to critical acclaim. Since the start of 2023 her conducting engagements have included the Bern Symphony Orchestra, BBC Symphony Orchestra, Royal Scottish National Orchestra, Italy’s Orchestra Della Toscana and RTÉ National Symphony Orchestra in Dublin. A BBC poll last year of 150 leading conductors ranked Mahler’s Third Symphony as the 10th greatest symphony of all time. With the NZSO performing for over 90 minutes, Mahler’s Third Symphony is his longest and considered one of his greatest symphonic achievements.

By Benjamin Plummer ofPhoto: Supplied / Linda WaldonA man found dead in his Hawke's Bay house following the devastating Cyclone Gabrielle floods lost his wife to an aggressive form of cancer just eight months earlier. Friends and family have paid tribute to Waiohiki resident Ian McLauchlan, aged in his 70s, whose body was discovered on 16 February. Police are yet to identify him publicly, but announced last Friday that a man in his 70s had died in Waiohiki. An obituary published in Hawke's Bay Today said McLauchlan was a dearly loved husband, father, and cherished brother. The official death toll from Cyclone Gabrielle is 11; with most of those deaths in Hawke's Bay.

nzherald.co.nz published this video item, entitled “Markets with Madison: Precinct hikes premium office rents | nzherald.co.nz” – below is their description. Markets with Madison: Precinct Properties is hiking rents by 17 per cent as workers return to offices, and Sky Television is considering launch a Neon ad-tier service to compete with Netflix. Full story:Subscribe and be notified of breaking news: https://goo.gl/LP45jXCheck out our playlists: https://goo.gl/Swd249Like NZ Herald on Facebook: https://goo.gl/tUC4oqFollow NZ Herald on Instagram: https://goo.gl/oLicXeFollow NZ Herald on Twitter: https://goo.gl/Wi6mbvnzherald.co.nz YouTube Channel

This money generated by trade with China comes with so many fish hooks there’s more hook than fish. How does Labour remove all the fish hooks that have been sewn into the guts of the 3 Waters legislation while identifying who is actually directing NZ’s water infrastructure needs? This money generated by trade with China comes with so many fish hooks there’s more hook than fish. In 2017, Infrastructure NZ led a delegation of 33 senior New Zealand public and private representatives to the UK. Infrastructure NZ comprises of the China Construction Bank, Industrial and Commercial Bank of China and the Bank of China.

A crash on Auckland’s Northern Motorway has closed lanes and the Northcote off-ramp, with motorists warned to expect delays. Photo / Waka KotahiA crash on Auckland’s Northern Motorway has closed lanes and the Northcote off-ramp, with motorists warned to expect delays. Photo / Waka KotahiA crash on Auckland’s Northern Motorway has closed lanes and the Northcote on-ramp, with motorists warned to expect delays. The crash, in the southbound lanes, was reported about 2.30pm. Please avoid the area or expect delays and allow extra time for travel,” Waka Kotahi posted on Twitter.

The New Zealand Super Rugby franchises are renown for being highly competitive between each other, with lopsided beatings usually reserved for the Australian sides. The Highlanders counter-punches came while the Blues were dealing with two yellow cards, but once returned to a full contingent there was no contest. New Zealand Herald rugby writer Liam Napier wrote ‘the gulf in talent was brutally exposed’ in Dunedin as the Blues contingent of 13 starting All Blacks put the Highlanders to the sword. Missing starting halfback Aaron Smith, the Highlanders starting line-up featured two All Black starters from last year, Ethan de Groot and Shannon Frizell, while capped No 9 Folau Fakatava had a rare start in Smith’s absence. “By contrast, the Highlanders struggled for cohesion often as their passing, in particular, was wayward.”ADVERTISEMENTMany of the Blues tries came from Highlanders errors, with the dangerous backs pouncing on loose passes and launching long-winding counter-attacks.

Between anxieties about losing their jobs, sick parents and various Covid scares, their sex lives took a nosedive, and now they only have sex on the weekends. Monday:I’m a firm believer that everything is habitual, even sex, so I’ve decided to try to have sex with my partner every day for a week. I’m not a morning person, so I don’t even attempt to have sex with my boyfriend before 8am. Friday:I’m determined to finish the week on a sex high and don’t want to miss out on after-work drinks. Saturday and Sunday:I’m relieved it’s the weekend, because we always organically have sex these days.

READ MORE:* Quiz: Morning quiz: February 21, 2023* Quiz: Morning quiz: February 22, 2023* Quiz: Afternoon trivia challenge: February 19, 2023Got a good quiz question? Send your questions to quiz@stuff.co.nz.

nzherald.co.nz published this video item, entitled “NZ Army builds road to isolated community in Hawke’s Bay | nzherald.co.nz” – below is their description. NZ Army soldiers assisted contractors and logging crews as they removed slips and trees blocking the road through to Tutira, a remote community in Hawke’s Bay. Full story: https://bit.ly/3ECMn45 Subscribe and be notified of breaking news: https://goo.gl/LP45jX Check out our playlists: https://goo.gl/Swd249 Like NZ Herald on Facebook: https://goo.gl/tUC4oq Follow NZ Herald on Instagram: https://goo.gl/oLicXe Follow NZ Herald on Twitter: https://goo.gl/Wi6mbv nzherald.co.nz YouTube ChannelGot a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.