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Tommy Honey: Construction Industry Council ED on the drop in building consents
Manage episode 431677151 series 2098280
There's a belief New Zealand's building sector is still many months away from a rebound, as consents plummet.
Stats NZ data shows fewer than 34,000 new homes were consented in the year to June.
That's a 24% annual drop, and five-year low.
Construction Industry Council Executive Director Tommy Honey told Ryan Bridge it's a continuation of a trend that began mid-2022
He says they've been waiting for that to reverse —or at least plateau— but numbers are still seemingly sinking.
Annual building consents of apartments have also plummeted, with a 51% drop in the year to June.
Honey told Bridge apartments are seen as a risk for builders, developers, and investors.
He says it's also related to inflation running high, and while that's turning a corner, there's a lag at the Reserve Bank.
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See omnystudio.com/listener for privacy information.
3089 episodes
Manage episode 431677151 series 2098280
There's a belief New Zealand's building sector is still many months away from a rebound, as consents plummet.
Stats NZ data shows fewer than 34,000 new homes were consented in the year to June.
That's a 24% annual drop, and five-year low.
Construction Industry Council Executive Director Tommy Honey told Ryan Bridge it's a continuation of a trend that began mid-2022
He says they've been waiting for that to reverse —or at least plateau— but numbers are still seemingly sinking.
Annual building consents of apartments have also plummeted, with a 51% drop in the year to June.
Honey told Bridge apartments are seen as a risk for builders, developers, and investors.
He says it's also related to inflation running high, and while that's turning a corner, there's a lag at the Reserve Bank.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
3089 episodes
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