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

 

Tradespeople shift to homeowner to reduce risk


Tradespeople shift focus from developers to homeowners to reduce risk

Statistics NZ reports that home-building approvals slumped to a 22 year low in August. The trend for the number of new dwellings, including apartments, has been falling since mid-2007, and is down 42 percent since then, increasing unemployment and underemployment in the building trades.

There are still pockets of growth in the market. Builderscrack.co.nz director Keith Roberts said that homeowners were becoming more focused on improving the appearance of their homes before putting them on the market "the number of homeowners posting small renovation or home improvement jobs to spruce up the appearance of their homes has doubled since this time last year, which the number of major renovations is down by ~50%". Fellow director Mark Dickson added "tradespeople are finding it tougher, so are much more active in seeking smaller jobs from customers - it is a good time to get those jobs done if you can afford it".

Tradespeople we spoke stated that it was becoming more attractive to do smaller jobs for homeowners. "Working for a large developer that expects us to put a lot of money into the job before we get paid is getting more risky - a lot of guys have lost money when developers have gone bankrupt". Having a number of smaller jobs on the go is becoming more attractive as financial markets sieze up and more and more developers teeter on the edge of insolvency.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO: