Under the deal announced by Nick Smith today, the government has agreed to give the Nga Mana Whenua iwi and hapu first opportunity to develop any of the Crown land subject to a right of first refusal.
House prices dropping back.
"The bad news is the way this country is being run with increased borrowings by particularly this government, we are going to have a cashflow deficit in no time. The byproduct of this is lower asset prices, so batten down the hatches."
Penny Pepperell of Capital Letter on Auckland Waterfront Development Agency v Mobil NZ.
"This has implications for developer funding and the $10m will likely be green fees"