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

 

Property Confidence Drifting – Dead Cat?

The NZPI Property & Construction Confidence Index, complied in partnership with Maltby & Partners Ltd (www.maltby.co.nz) appears to be drifting with latest results around the same level as four to five months ago, New Zealand Property Institute CEO Conor English said today. The index (month-by-month results) picked up in April, before slowly retreating back to around the level in July 2001.

“It appears to be becoming a bit of a dead cat. It would be good to see an increase in confidence levels in the next survey. Following the American move to 3.5%, if Dr Brash reduced the OCR from 5.75% and there was a turn around in the number of residents leaving the country, we may see some more positive movement. The rural upturn could be peaking with the dollar now picking up and the risk associated with that sectors reliance on high commodity prices,” Mr English said today.

“Looked at on the basis of a three month rolling average, this index has declined slowly but steadily in the first half of 2001 (although there has been little movement over the last few months). Compared with a peak of around 120 points in the November 2000 – January 2001 roll, consecutive three month rolls between February and July 2001have all been under 100 points.

“However, as in February, Wellington results are still more positive than those for Auckland. Both areas, however, have declined over the first half of 2001.

Outlook: “On the May-July 2001 roll, 57% if respondents expected conditions in the construction industry to improve over the next 12 months (up 4% on April-June, and 6% on March-May). Sixteen percent thought things would get worse (up 1% on the previous roll), and 22% believed conditions would get better (down 4%). Shorter-term expectations were, however, less positive. On the same May-July roll, 38% thought conditions would improve over the next six months, while 20% believed they would get worse.

“Looking at conditions in the industry over the next three months, most expect things to remain the same (May-July 56%). Just 24% thought things would get better, compared with 42% in the December-February three-month roll. 20% thought this would get worse.

Government: “While perceptions of the government’s understanding of the construction and property industry are still quite negative, figures in this area have shown a steady improvement since mid 2000. In the June-August 2000 results, 13% thought the Labour-led government understood the issues facing the industry either “very well” or “fairly well”, while 80% believed it understood the issues “not very well” or “not well at all”. By May-July 2001 this had improved to 32% “very” or “fairly” well, 63% “not very well” or “not well at all”

www.propery.org.nz for full report and graphs.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Commerce Commission: Appeals Record $2.25m Fine In Vodafone FibreX Case

The Commerce Commission has filed an appeal in the High Court against a record $2.25 million fine imposed on Vodafone NZ Limited (Vodafone) for its offending under the Fair Trading Act during its FibreX advertising campaign. While the sentence imposed in the Auckland District Court on April 14 was the largest-ever fine under the Fair Trading Act, the Commission will argue that it is manifestly inadequate... More>>



All District Health Boards: Historic Pay Equity Settlement

An historic agreement has been ratified that addresses a long-standing undervaluation of a workforce that is critical to the smooth running of our hospitals and the delivery of healthcare... More>>


MPI: Dry Autumn In Waikato And South Auckland Leads To Drought Classification Drought conditions affecting the primary sector in the Waikato and South Auckland were today classified as a medium-scale adverse event, enabling a package of support for farmers and growers... More>>


Barfoot & Thompson: Rents Up By Around 3% In Most Areas

The average weekly rent paid for homes in most areas of Auckland has risen by around 3 percent year-on-year. The figures for end March from more than 16,000 properties... More>>


DoC: Smeagol The ‘Gravel Maggot’ Leaves Its Rare Mark On The Remote West Coast
An extremely rare species of sea slug or ‘gravel maggot’ has been detected for the first time on a remote beach in South Westland... More>>



Immigration: Annual Net Migration Loss Of 7,300

The provisional net loss of 7,300 people in the year ended March 2022 was the lowest net migration for a March year since 2012, Stats NZ said today... More>>