Christchurch Rebuild, Property Upturn Lift
For release: 9 January 2013
Christchurch Rebuild, Property Upturn Lift Small Building Firm Confidence To New High – ANZ Business Micro Scope
Small building firms are gearing up to lift investment and take on more staff in 2013, driven by the Christchurch rebuild and a wider upturn in the property market, according to ANZ’s Business Micro Scope survey of small firms.
Investment and hiring intentions among builders, plumbers, electricians and gas-fitters have risen to their highest level in 13 years - surpassing levels seen during last decade’s property upturn. On a composite measure, sentiment across small firms in the construction sector is at its highest since 2007, the quarterly survey shows.
ANZ’s Managing Director, Business Banking, Fred Ohlsson, says: “Small building firms and tradespeople see a good year ahead with the Christchurch rebuild and a wider property upturn underpinned by low interest rates. Though Canterbury and Auckland have led the way, there is evidence that builders’ optimism is spreading to other regions and other sectors including household retailers and services such as architects and designers.”
Full media release and Business Micro Scope report attached