Council heralds construction lift

Tuesday 22 January 2013

Auckland’s council says signs of increasing activity in the city’s construction sector indicate more sustained economic growth ahead for the region.

Auckland Council’s chief economist Geoff Cooper said construction activity had been flat since the end of 2008.

But the number of residential consents rose 5% in the three months ended September 30, 2012, from the previous quarter and were up 27% on 2011.

Economic activity in the construction sector rose 3.6 per cent in the same period.

Cooper said residential consents were an important lead indicator of economic activity.

“After a long period of sluggish activity, the construction sector is showing signs of awakening and that’s likely to lead to stronger growth for Auckland’s economy as we progress through 2013.”

He said for every dollar spent in the construction sector, $1.60 was generated for other parts of the economy.

Comments from our readers

No comments yet

Sign In / Register to add your comment

House Prices

National average asking price up

Eight regions drove an increase in June’s national average asking price, according to Realestate.co.nz’s latest data.

Commercial

Victory for business in change to earthquake rules

New, more targeted regulations for earthquake-prone buildings are a win for commercial property owners and businesses.

Mortgages

RBNZ cuts OCR

The Reserve Bank has cut the OCR to 3.25% today. Here is what the governor Graeme Wheeler said.

Site by PHP Developer