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

 


Building Consent Activity Steady

30 June 2014

Building Consent Activity Steady

The latest residential building consent figures released today show the demand for new residential properties continues to be steady at a monthly building consent rate of 1,922 for the first five months of 2014. Statistics New Zealand figures released today showed 2,125 new dwelling and apartment consents issued in May 2014, compared with 2,082 in April.

Registered Master Builders Association (RMBA) CEO Warwick Quinn says that the overall trend has stabilized after two years of strong growth. Quinn expects some 23,000 – 24,000 residential building consents to be issued in 2014 up from 21,300 in 2013 and 16,929 in 2012. The two main centres of Auckland and Canterbury still make up nearly 60% of all activity and this is expected to continue.

Quinn says, “Auckland’s growth over the last 12 months is 30% higher than the previous 12 month period while Canterbury’s is 40% higher, mostly on the back of Christchurch City doubling the number of consents issued in the last year with that part of the Canterbury region’s rebuild get underway”. The rest of New Zealand continues to be steady he says and RMBA has yet to see any significant impact from the recent rises in the official cash rate and the consequential impact on mortgage interest rates.

Mr Quinn says the identification of special housing areas in Auckland, and more recently Wellington, have not yet manifested in any upturn in consenting levels. He says an immediate response was never likely given it takes time to work through the feasibility analysis and then the resource and building consent process but the results should come. He says over the last 20 years New Zealand’s residential construction rate has fallen from six builds per 1,000 population to around four per 1,000, resulting in reduced supply while population has continued to grow. The non availability of land is the key driver this needs to be corrected if overall property prices are to be contained Quinn says.

About Registered Master Builders Association (RMBA)
• The Registered Master Builders Association (RMBA) represents New Zealand’s premier building companies who pride themselves on delivering the highest quality houses and buildings to their clients
• RMBA has been in existence for more than 100 years, providing industry leadership, training and services for its members
• There are 21 regional Registered Master Builders Branches throughout New Zealand
• Registered Master Builders are assessed on their building experience, trade or professional qualifications, and practical experience before membership is approved. Re-certification of members occurs when required, with checks on their financial viability, client satisfaction and workmanship
• When engaging a Registered Master Builder for a new home, or alterations or additions (built under either full contract or a labour only contract), clients will be offered a Master Build Guarantee, which covers loss of deposit, non-completion of the work, defective workmanship and materials and structural defects (conditions apply)

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