Value of building work keeps the industry strong

28 July 2006

Value of building work keeps the industry strong says the Registered Master Builders Federation

Latest building consent statistics released today are consistent with predicted industry trends, says Registered Master Builders Federation chief executive Pieter Burghout.

“We are experiencing the anticipated slowdown in the market for residential consents, which fell by 13.6% in June, although their value rose by 5.5%. Conversely there has been an increase in the value of non-residential building work, which is part of the positive trend we have been tracking in this area of the construction sector,” Mr Burghout said.

“Both residential and commercial registered master builders have planned for this. Long-term, New Zealand’s growth prospects for the building industry remain positive with continued population growth expected over the next five to ten years which is expected to boost the residential market,” Mr Burghout said.

The Statistics New Zealand building consent data indicated that despite volatility in the residential market a strong base has been formed, with an average of around 2,000 building consents issued every month.

“Registered master builders at the coal face are reporting a consistent and reasonable number of projects coming up. This is indicative of the kind of quality and award winning work they undertake,” Mr Burghout says.

ENDS

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