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

 


Residential Building Boom Continues

The number of new dwellings authorised in August 1999 was 2,490, the second highest monthly total recorded this year. This is the sixth consecutive month that the number of new dwellings has totalled over 2,000. Included in the total number of new dwellings was 464 apartment units, of which 290 were in Auckland. The value of consents for apartment units was $45.8 million, the highest total for apartments on record.

The total value of new dwellings was $355.4 million, the highest monthly total on record. Contributing to the high total for residential buildings were five consents for blocks of apartments of $5 million or over. The underlying trend for both the value and number of new dwellings has been showing strong positive movements for 12 months.

The value of consents issued for non-residential building projects in August was $194 million. This is the second highest total for non-residential consents this year, and is due to high totals being recorded for shops, restaurants and taverns, and offices and administration buildings. Non-residential building work has generally been in decline over the last 20 months, with only seven of the 20 months recording totals over $190 million and most others being under $170 million. It is too early to say whether the August total is a one-off, or if it is indicative of an upturn in non-residential building activity.

The total value of consents issued for all building work was $608.5 million, the highest monthly total since May 1997. The high totals in both residential and non-residential building work are the reason for this.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

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: 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