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

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news