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

 

Residential Industry Stronger than Expected

Residential Industry Stronger than Previously Expected

The construction industry is up 4.7% (by unadjusted value) compared to the same time last year, says Registered Master Builders Federation Chief Executive Pieter Burghout.

“The residential sector is staying strong, much stronger than was previously expected by the industry. And although the commercial sector has dropped away slightly in the last two quarters, it is still working off a high base,” says Mr. Burghout.

The recent Statistics New Zealand media release Building Consents Issued: October 2006 showed that the trend for the monthly value of residential building work decreased at the start of 2006 but has increased since March. The increases in consent value appear to be flowing through into statistics for residential building work put in place.

“Compared to past years, 2006 volume-wise is similar to that of 2004, which was still our second biggest year previously (2005 being the largest). We expect to see the construction industry holding steady for the next few months given the projected work volumes and building projects in the pipeline,” says Mr. Burghout.

Mr. Burghout was commenting on the recent Value of Building Work Put in Place media release by Statistics New Zealand for the 2006 September Quarter.

ENDS

© 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>>