Building soars, but not a boom
Friday 2 April 2004
The building industry continues to flourish, according to statistics, but industry insiders and economists steer clear of painting a picture of boom times.
By The LandlordNew dwelling consents were up six per cent to 2529 in February - a 30-year high for a February month, Statistics New Zealand said yesterday.
The number of nationwide consents is up a massive 40 per cent on February 2003's 1797 while annually, 30,923 new dwelling unit consents were issued, up 11.4 per cent.
On a seasonally adjusted basis, 3027 new dwelling consents were issued in February, up 0.7 per cent on January.
Regionally Taranaki showed the greatest growth with 29 dwelling consents in February 2004 compared with 15 in February 2003. Wellington had 129, compared with 100 in February 2003, while Manawatu-Wanganui consents were also up, to 64 from 57.
Hawke's Bay was the only area in the region to drop, down one consent from 51 in February 2003 to 50 in February 2004.
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Commenting is closed
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.