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

 

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:

Mediaworks: Reaches Agreement To Sell TV Operations To Discovery, Inc.

New Zealand’s largest independent commercial broadcaster MediaWorks and the global leader of real-life entertainment Discovery Inc. (“Discovery”) are pleased to announce they have reached a binding agreement regarding the sale of MediaWorks’ ... More>>

ALSO:

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO:

SAFE: Live Export Ship Carrying 5,800 New Zealand Cows Goes Missing In East China Sea

Livestock carrier Gulf Livestock 1 sent a distress signal at 4:45am NZT yesterday in the East China Sea. The area is affected by Typhoon Maysak. At 4pm a patrol plane spotted a lifeboat - with no people in it - and a man in lifejacket nearby. The ship ... More>>

ALSO:

FMA: Kiwisaver Fees Don't Match Performance

The Financial Markets Authority (FMA) today published an independent report into the passive and active investment management styles [i] used by KiwiSaver providers. The FMA commissioned MyFiduciary to test the extent that KiwiSaver providers were ... More>>