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

 


Apartments Hit Record High

In July 1999, 2,528 new dwellings were authorised for construction, including 548 apartment units.

This is the highest number of new dwellings since September 1997 and the highest monthly total for apartments on record. Central city apartment dwelling has become a popular option for many with its close proximity to work, amenities and city night life.

The total number of apartment units for the year ended July 1999 was 3,553. This is 14.5 per cent higher than for the year ended July 1998. In 1996 apartment units made up only 5 per cent of the total dwellings, while in 1999 this number had risen to 15 per cent. A substantial number of the new apartment units were in Auckland and may be partially attributable to anticipated higher demand for accommodation during events such as APEC, the Americas Cup and the Sydney 2000 Olympics. In July 1999, 299 of the total 548 units authorised were in Auckland.

The total value of residential building authorisations in July 1999 was $380.5 million, including alterations, additions and outbuildings. Throughout 1998 most monthly totals were below $300 million, while 1999 has seen most monthly totals significantly higher than $300 million, indicating continued strong growth in investment in residential buildings.

The total value of non-residential building consents issued in July 1999 was $145.6 million, the lowest monthly total since February 1997. The upturn in the residential building industry evident since September 1998, has not been matched by an upturn in the non-residential building industry, which has been in decline for 19 months now.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: 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>>

ALSO:

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:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news