Builders plead for help as workload crisis threatens projects
Thursday 5 August 2004
Big hospital, school, university and prison projects could be threatened unless the Government helps the construction industry solve its workload crisis, building leaders say.
By The LandlordMultiplex Construction chief Shane Brealey, Hawkins Construction head Chris Hunter and Fletcher Construction's Mark Binns say the crisis gripping their industry will worsen as workloads in Auckland double in the next year.
They are united in doubting the industry's ability to complete $3.2 billion worth of public and private work proposed over the next two years.
Rising interest rates, commodity price increases fuelled by China's economic growth, and the skills shortage are forcing an over-stretched industry into a crisis.
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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.