$100bn Construction Boom
The New Zealand Building and Construction Productivity Partnership is predicting a record construction peak in 2016.
Citing unprecedented levels of demand in Auckland’s housing market and the ongoing Canterbury rebuild, the report forecasts the value of building and construction work will reach $32bn – 23% higher than the previous 2007 record. The report points to the biggest construction boom this country has seen in decades, totally $100bn over the next three years.
The high growth rates are forecast to last four years or more, 10% longer than previous booms. Over the forecast period the value of residential work is expected to increase by 48%
In November, building consents hit a seven year high, with the number of new dwellings consented up from 18,469 in 2013 to 21,225 in 2014. Auckland and Canterbury accounted for 70% of the national total for new dwellings. Non-residential dwellings also increased 22% in the same period driven by Auckland and Christchurch again and followed by Wellington.
This opens up huge opportunities for all those involved in the construction market. ATS Timber is constantly working on new products, innovations and services to open up new and exciting opportunities in the industry.
For details of the report please see www.buildingvalue.co.nz