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


Builders Confirm Weak Construction Sector

Media Release
2 August 2010

Registered Master Builders Confirm Weak Construction Sector

The Registered Master Builders Federation (RMBF) says that the figures released on Friday by Statistics New Zealand confirm that the small recovery the construction sector experienced in late 2009 and early 2010 has stalled. Figures show the number of new housing units increased by just 1.7% in June (excluding apartments) after a decrease in May.

RMBF CEO Warwick Quinn says that the projections at the start of the year by some commentators that new residential builds would reach 20,000 was now highly improbable as the sector is currently just managing to maintain volatile consent numbers.

“The new build residential market has hit a plateau over the last few months and it is looking like consent numbers will remain there in the foreseeable future. There is still a significant amount of nervousness by consumers who have been heavily impacted recently by rises in the official cash rate, material price movements, pending GST increases, changes to depreciation and tax for investment properties and a sluggish wider housing market.” Mr Quinn says that while additions and alterations are holding up well the outlook for non-residential properties is bleak. “Building consent numbers for non-residential construction have been falling steadily since mid 2009 after being buoyed during the recession with investment in public infrastructure such as sports stadiums, airports and the like. However, this spending has come to an end and there are few major commercial consents in the system.” Mr Quinn believes until the recovery is well entrenched and investors are confident with tenant demand and finance is available this sector will remain flat for some time yet.

The regions with the largest increases for new housing in June were Canterbury and Auckland while the Hawke’s Bay experienced the largest decrease.


© Scoop Media

Business Headlines | Sci-Tech Headlines


TradeMe: Property Prices In Every Region Hit New High For The Very First Time

Property prices experienced their hottest month on record in December, with record highs in every region, according to the latest Trade Me Property Price Index.\ Trade Me Property spokesperson Logan Mudge said the property market ended the year with ... More>>

Motor Industry Association: 2020 New Vehicle Registrations Suffer From Covid-19

Chief Executive David Crawford says that like some other sectors of the New Zealand economy, the new vehicle sector suffered from a case of Covid-19. Confirmed figures for December 2020 show registrations of 8,383 were 25% ... More>>

CTU 2021 Work Life Survey: COVID And Bullying Hit Workplaces Hard, Huge Support For Increased Sick Leave

New data from the CTU’s annual work life survey shows a snapshot of working people’s experiences and outlook heading out of 2020 and into the new year. Concerningly 42% of respondents cite workplace bullying as an issue in their workplace - a number ... More>>

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>


University of Auckland: Pest-Free Goal Won’t Be Achieved Without New And Better Tools

New Zealand’s goal to become predator free by 2050 will remain an unrealised dream unless new technologies and advances in social engagement continue to be developed, researchers who first promoted it say. A team from the University of Auckland has ... More>>

OECD: Area Employment Rate Rose By 1.9 Percentage Points In The Third Quarter Of 2020

OECD area employment rate rose by 1.9 percentage points in the third quarter of 2020, but remained 2.5 percentage points below its pre-pandemic level The OECD area [1] employment rate – the share of the working-age population with jobs – rose ... More>>

Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>