Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Building Decline Continues

The total value of consents issued for all buildings was $354.8 million. This is the lowest monthly total since April 1994 and is a reflection of the residential and non-residential lows occuring in the same month.

The value of consents issued for non-residential building projects in April was $101 million, the lowest total since February 1994. The underlying trend for the value of non-residential building consents has been declining since October 1999.

All non-residential building types recorded values under $20 million and there were no individual consents worth over $10 million. Offices and administration buildings contributed the most to the total for non-residential buildings, with $18.4 million.

The number of new dwelling units authorised in April 2000 was 1,405, valued at $204.1 million. This is the lowest monthly total since January 1994 and continues a downward trend which began in July last year. There was also a significant drop in the number of apartment units authorised, with only 40 new units approved in April. This is the lowest since January 1997.

A number of factors may be adversely affecting the number of new dwellings authorised; rising interest rates, net outflow of migration in the last two years, an oversupply of houses and a depressed real estate market.

Ian Ewing Deputy Government Statistician END There is a companion Hot Off The Press information release published - Building Consents Issued April 2000.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news