Ardern cautiously optimistic CPTPP trade deal will go ahead as March signing looms

Prime Minister Jacinda Ardern remains cautiously optimistic the CPTPP trade deal will be ratified with an agreement reached yesterday for the deal to be signed on March 8.

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Speaking at Ratana today Ms Ardern said: "The signing in Chile at the beginning of March is likely to go ahead".

"We wouldn’t want to get ahead of ourselves with where the agreement sits now, but certainly this is another step towards the finalisation." 

She said one of the stumbling blocks for of the deal included Canada's temporarily removing itself from the agreement due to "seeking support for their cultural exception". 

After another round of talks, the pact is set to be signed in Chile in March. Source: 1 NEWS

"New Zealand has a cultural exception, that's something we've long fought for in our trade agreements."

The exception enables trade agreements to differentiate culture from commercial products. 

New Zealand offered support for Canada's cultural exception "and to offer any assistance we could". 

Ms Ardern says Canada are now satisfied with how the agreement now stands. 

The PM says after “bumps” including a US withdrawal and Canada’s temporarily walking away, the trade deal will go ahead. Source: 1 NEWS



Watch: Rousing haka welcomes Jacinda Ardern, political leaders to Ratana

Prime Minister Jacinda Ardern, Deputy PM Winston Peters and Green co-leader James Shaw, along with other government MPs were welcomed to the Ratana church by a passionate haka today.

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Politicans across the House are at the small town near Whanganui to celebrate the Ratana Movement and kick off the political year.

Ratana has been backing the Labour Party for 33 years but this is the first time in a decade a Labour Government has been welcomed to the pa.

Bill English was the first National Party leader to visit Ratana in 2002.

The movement formed a formal alliance with the Labour Party when Michael Joseph Savage was leader.  

It is the first time in a decade a Labour government has been welcomed to the grounds. Source: 1 NEWS

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Housing resale profit dropped by a fifth during 2017's third quarter, new CoreLogic report says

CoreLogic's latest Pain & Gain property resale report suggests the number of properties being sold for a loss in Auckland has increased this quarter by more than 16 per cent.

The report says the proportion of all properties resold at a loss in Q3 of 2017 was 4.3 per cent - up 0.6 percentage points from 3.7 per cent in Q2 2017, which equates to a 16.2 per cent rise.

Graphics and statistics from the Executive Summary of the CoreLogic Pain & Gain Report for Q3 2017
Graphics and statistics from the Executive Summary of the CoreLogic Pain & Gain Report for Q3 2017. Source: Supplied/Corelogic, Background image Luke Appleby

CoreLogic suggested that the slowing in capital gains could lead even more people to "cash out" due to the uncertainty of future capital gain.

The biggest losers this quarter were apartments - 10.1 per cent were sold at a loss, the report said, while 4 per cent of houses suffered the same fate.

However, one region which continues to do exceptionally well is Queenstown, where there was not a single recorded resale at a loss in the past quarter - the second in a row.

The median amount lost during resales at a lost, nationally, was $19,000 per sale.

Overall, the total amount made through the resale of housing in New Zealand dropped 20.9 per cent in Q3 - from $4.3b down to $3.4b.

For the vast majority of housing which was resold at a profit, the median amount gained was $172,000.