Master Builders pleased with increasing confidence

Media Release
30 November 2009

Registered Master Builders pleased with increasing consumer confidence

The Registered Master Builders Federation (RMBF) says that figures released today by Statistics New Zealand, confirms the feedback received from its members that public enquiries are being converted into higher numbers of building consent applications.

RMBF CEO Warwick Quinn said that the latest 11 percent increase for October, the highest number since June 2008 (excluding apartments), show that consumers are starting to spend again in an industry that has long been the litmus test for the economy in general.

“We’re pleased that the trend continues to head in the right direction but it has to be remembered that the increase is off a very low base and there is still some way to go before we are building at sustainable levels” says Mr Quinn. “We need to be building in the order 20,000 – 22,000 new homes a year to meet demand and our current numbers are around 15,000-16,000.”

However, Mr Quinn says there will never be a better time to build or renovate than the present with stabilised property values, low mortgage rates and low land values but the window to capitalise on these is closing with immigration pressure and increased demand.

The regions with the largest increases in October were Auckland, Otago and Taranaki, with the Waikato and Manawatu/Wanganui showing similar increases in September.

ENDS

© Scoop Media