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New Zealand’s Construction Industry Holding Steady

FOR IMMEDIATE RELEASE

New Zealand’s Construction Industry Holding Steady

Registered Master Builders Federation Chief Executive Pieter Burghout says the consent figures released today by Statistics New Zealand show that consent numbers and values are generally holding steady across most sectors of the industry and across the country in general.

“Excluding apartments, the numbers of residential consents for September 2006 are similar to those issued in September 2005. The value of those consents has actually gone up by 13% [$655m in total for the month of September 2006] – this shows a residential sector that is very much on a ‘steady as she goes’ path,” Mr Burghout said.

“Non residential consent values [September 2006 against September 2005] have gone down 15%, but September 2005 was one of five or so extraordinarily high/peak months over the last year or so – the adjusted trend-line for non-residential values is actually the highest it has ever been, at around $340m of consented work per month,” said Mr Burghout.

Overall, annual year to date construction industry expenditure is sitting at $11.16 billion, up 2.1% on the September 2005 year.

The Registered Master Builders Federation is very pleased with the trend analysis year to date – they reflect an industry consolidating around a solid platform of around 25,000 new home consents and $4 billion of non-residential expenditure per year.

“This helps give a pleasing level of certainty to an industry that once used to have much higher extremes in expenditure each year,” said Mr Burghout.

The Statistics New Zealand numbers reflect the anecdotal evidence offered by Registered Master Builder members that most still have at least 12 months of committed work ahead of them.

“As well as the quantity of work, our members are also providing the quality – our recent national House of the Year Awards function held in Auckland over the weekend showcased 100 of the best building projects from across the country,” said Mr Burghout.

The 2006 PlaceMakers Supreme Award and House of the Year was awarded to N.T Stevens Limited for their spectacular renovation of a two storey residence in Karori, Wellington. While the RMB Commercial Project of the Year went to Dunedin-based builders Naylor Love Limited for their Columba College Sports Centre.

ENDS

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