Aroha to the fore at Rose Centre festival

It was a case of fifth time lucky for The Rose Centre as its Aroha Festival took place last Sunday after four previous failed attempts to host the event.

The festival has been in the works since last November, but was postponed due to scheduling conflicts, Covid complications, and, most recently, Cyclone Gabrielle.

Rose Centre operations manager Geoff Allen said he couldn’t believe the festival

Clowning around… Above, from left Tilda (6) and Riley (9) Prebble being taught circus games by their father, Mark, and instructor Tobias Miller Going for a spin… Mates, Nate Matairangi (10) and Carter Lauder (11)

Local Musician Āpera performing his original music (right) was acutally going ahead after all of the failed attempts to host it.

“It took us about three hours to set up. And after, I was looking at it thinking this isn’t real this isn’t happening.”

The day featured market stalls from local schools, a magician, dance performances and a live set from local musician Āpera.

Non-profit organisation, Circability gave classes on social circus games.

Rates topping out??

It seems global inflation and interest rates are topping out in many countries and the same must be getting close in New Zealand. People are certainly cutting back on spending as higher rates bite, and the pain has hardly begun for many borrowers who are refixing this year at 6.50%. Most expect one, or maybe two, more Official Cash Rate hikes to 5%+ this week. Then the Reserve Bank is likely to sit back and wait and see what happens to inflation and hope that they have not gone too hard and driven the impending recession even deeper. If this is the case, one would have to assume mortgage rates are near their peak... so long as that inflation number comes back into line!

Once inflation and interest rates top out, and along with increased immigration and a possible change to the investment-property tax deduction for interest expense, confidence is likely to improve in the property market after the long-overdue correction.