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

 


New publication reveals fuel spending impact on development

4 August 2014

New publication reveals fuel spending’s impact on development

New Zealanders are driving less, and using less petrol than a decade ago, but the cost has gone from $3.8b to $7.8b a year says commercial property, architecture, design and research company RCG.

In the launch issue of their publication Constructive Thinking, the company examines the influence fuel spending is having on Auckland household budgets, the economy and city development.

“Auckland households spend on fuel has increased to an average of $4,500 a year, an average that increases with distance from the CBD.” says John Polkinghorne, Associate Director of Research at RCG.

“Ultimately, these added costs percolate through the whole economy. We’ve investigated how much discretionary income has “gone up in smoke” rather than into investments, savings, or retailers tills.”

“When new homes are built on Auckland’s city fringe, instead of more centrally, the residents could easily spend $2,000 more on petrol each year. That’s a drain on their economic resources, and it’s an issue for the environment.”

“As a result mixed-use developments, and inner city living, will become more popular.”

Polkinghorne says the Council aren’t doing enough to enable intensification, and the Unitary Plan won’t help. “There are too many restrictions, and a complex approval process.”

“However, fringe living could be improved by making sure that the outlying areas have access to the services they need, like shops and employment.”

Constructive Thinking goes on to point out fuel spend has a bigger impact on retailer profits than online retailing.

“Internet shopping gets plenty of media attention, but that extra $4 billion spent on fuel has certainly been a bigger drain on the economy (and on retailers’ profits) than the Internet.”

Constructive Thinking is published quarterly, visit http://rcg.co.nz/subscribe to subscribe to the free publication. For more information on RCG, visit www.rcg.co.nz.

About RCG
RCG specialises in property consulting and development, architecture and design, and research and strategy for businesses seeking commercial success. Established in 1989, we provide expert services across a range of sectors from commercial, mixed use, educational, retail, hospitality and tourism to town centres, lifestyle precincts and transport hubs.

We are New Zealand’s leading creator of innovative environments for the retail sector and deliver well-considered, smart solutions that result in commercially successful outcomes.

With the ability to assist at all stages of the development process and with projects
of any size, RCG combines the best thinking, design expertise and skill to create environments that deliver tangible results. For further information please visit www.rcg.co.nz or call 09 303 1501.

About Constructive Thinking
Constructive Thinking is an insight-driven publication that helps clients and subscribers understand the new consumer and uncover commercial property opportunities. Published quarterly, Constructive Thinking is free to subscribers.
The first issue launches Monday 4 August 2pm. For further information please visit http://rcg.co.nz/subscribe.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news