New GDP data shows the economy is continuing to strengthen – latest data shows the economy grew by 0.8% over the last quarter of 2025. The seeds of recovery are now taking root, helped by National’s careful economic management and re-prioritising of government spending into the things that matter most to Kiwis. 

 

The official cash rate is now down from 5.5 to 3.25 per cent, and inflation is at 2.5 per cent. Mortgage rates have fallen, offering new opportunities for both first-time homebuyers and current homeowners. More than half of all mortgages are either floating or due to be re-fixed within the next six months, offering real savings for Kiwi homeowners. Those with mortgages of $500,000 over 25 years will be about $320 better off per fortnight if their mortgage rate falls by 2.25 per cent, in line with the Official Cash Rate reduction. The money saved will help families with the cost of living, giving Kiwis more money to pay for everyday bills and groceries. Nationwide rental data is also good news – rent increases are now the lowest they’ve been in a decade. 

We’re reducing red tape, backing our farmers, relentlessly pursuing trade opportunities, fast-tracking crucial infrastructure and encouraging investment in new kit with Investment Boost to driver economic growth. This means more jobs, higher wages and better opportunities allowing further government investment in quality schools, health and education that all Kiwis deserve. 

 

And there’s more to come- growth is expected to average 2.7 per cent, wages are growing faster than inflation, and 240,000 more jobs are expected over the next four years.

I’m excited that New Zealand is well and truly turning a corner.