Report forecasts $100 billion construction boom 30 Oct 2014
Related articles
Report forecasts $100 billion construction boom
Building and Housing Minister Dr Nick Smith today
welcomed the findings of the second National Construction
Pipeline report, which confirms building and construction
activity in New Zealand is expected to reach unprecedented
levels by 2017.
“The report released today points to the biggest construction boom this country has seen in decades totalling $100 billion over the next three years. It anticipates a minimum 10 per cent increase in activity every year to 2017, reaching a value of $35 billion. We are looking at the longest sustained period of growth in construction activity in 40 years,” Dr Smith says.
The latest findings support similar projections made in the first National Construction Pipeline report released in December last year. It shows slightly greater construction activity this year, and a lower peak in 2017 with the boom peaking slightly later in Christchurch in 2017 and Auckland in 2018.
“Growth in construction activity is on the cards for every region in New Zealand. I am particularly encouraged to see the strong forecasts for Auckland and Christchurch,” Dr Smith says.
“Auckland shows the highest level of construction activity, accounting for more than one-third of the upcoming workload in terms of value. This rapid rate of growth is driven by residential building, with the value of this work expected to more than double in value between 2012 and 2017.
“This affirms the success of the Government’s Housing Accord with the Auckland Council, where we will see thousands of new homes coming to market for families in the next few years.
“The forecast for Christchurch is further evidence that the post-earthquake rebuild efforts in the city are moving at pace. There are at least six Government projects due to begin in the next six months, with a collective value of nearly $1 billion.
“There is further good news for Christchurch in that this Government-funded construction activity appears to have wider, positive flow-on effects, with non-earthquake related, non-residential construction also expected to grow.”
The National Construction Pipeline provides national and regional forecasts of activity for residential and non-residential building and construction by central and local government, as well as the private sector.
The reports are commissioned by the Building and Construction Productivity Partnership, which is part of the Ministry of Business, Innovation and Employment (MBIE), and jointly prepared by BRANZ and Pacifecon New Zealand Limited. Its forecasts show the nature and timing of future building and construction work by type and by region through to December 2019.
“The National Construction Pipeline was developed following the recommendation of the Building and Construction Sector Productivity Taskforce for the publication of a forward-looking programme of sector activity. It provides the country’s building and construction sector with more certainty of future workloads, allowing the sector to better plan and invest in advance.
“This latest set of forecasts paints a golden era for New Zealand’s building and construction industry. The Government’s challenge is to invest in the skills to support this growth and to ensure our regulatory environment maintains high standards of quality through this period of rapid growth.”
The second National
Construction Pipeline report is available at: http://www.buildingvalue.co.nz/publications
ends
News
Hilary Timmins' Award-Winning UK Documentary Series To Inspire NZ Students
29 Jun 2020 Education
Dream Catchers, produced and directed by Hilary Timmins, celebrates the success stories of more than thirty inspirational New... more
New Zealand reaffirms support for Flight MH17 judicial process
7 Mar 2020 News
Ahead of the start of the criminal trial in the Netherlands on 9 March, Foreign Minister Winston Peters has reaffirmed the need to... more
Business
NZ Government's Economic package to fight COVID-19
17 Mar 2020 Business News
The Coalition Government has launched the most significant peace-time economic plan in modern New Zealand history to cushion the... more
NZ Government announces aviation relief package
19 Mar 2020 Business News
Transport Minister Phil Twyford today outlined the first tranche of the $600 million aviation sector relief package announced earlier... more
Living
Diversity was Key at New Zealand Trade Tasting in London
6 Jun 2022 Food & Wine
New Zealand Winegrowers Annual Trade Tasting was recently held in London, on Wednesday 4 May, in Lindley Hall.
It was the first... more
Kiwi author stuns Behind the Butterfly Gate
12 Jan 2022 Arts
Hidden behind the Butterfly Gate is where the secret has been kept for 76 years...
New Zealand writer Merryn Corcoran’s... more
Property
Fairer rules for tenants and landlords
17 Nov 2019 Property
17 NOVEMBER 2019
The Government has delivered on its promise to the over one million New Zealanders who now rent to make it fairer... more
New Zealand Government will not implement a Capital Gains Tax
17 Apr 2019 Property
The Coalition Government will not proceed with the Tax Working Group’s recommendation for a capital gains tax, Jacinda Ardern... more
Migration
Boosting border security with electronic travel authority – now over 500,000 issued
19 Nov 2019 Migration
19 NOVEMBER 2019
We’ve improved border security with the NZeTA, New Zealand Electronic Travel Authority, which helps us to... more
Christchurch reinstated as refugee settlement location
18 Aug 2018 Migration
18 AUGUST 2018
HON IAIN LEES-GALLOWAY
The announcement that Christchurch can once again be a settlement location for refugees... more
Travel
Gallipoli Anzac Day services cancelled
19 Mar 2020 Travel & Tourism
The New Zealand and Australian Governments have announced this year’s joint Anzac Day services at Gallipoli will be cancelled... more
New Zealanders advised not to travel overseas
19 Mar 2020 Travel & Tourism
New Zealanders advised not to travel overseas
more
Sport
The Skipper's Diary: Sir Richard Hadlee honouring his father and NZ's Forty-Niners
27 Oct 2019 Cricket
NZNewsUK London Editor Charlotte Everett spoke to Sir Richard Hadlee about why he’s chosen to publish his father’s... more
PREVIEW: All Blacks v England semi-final
26 Oct 2019 Rugby
The two most convincing quarterfinals winners are set to square off in a semifinal showdown for the ages when the All Blacks meet old... more
Columns
Gordon Campbell on the Gareth Morgan crusade
11 Nov 2016 Opinion
Gordon Campbell on the Gareth Morgan crusade
First published on Werewolf
The ghastly likes of Marine Le Pen in France and Geert ... more
Gordon Campbell on the US election outcome
10 Nov 2016 Opinion
Column - Gordon Campbell
Gordon Campbell on the US election outcome
Well um.. on the bright side, there (probably)... more
Kiwi Success
Congratulations to Loder Cup winner
26 Sep 2018 People
25 SEPTEMBER 2018
The Loder Cup, one of New Zealand’s oldest conservation awards, has been awarded to Robert McGowan for 2018... more
Appointments to New Zealand National Commission for UNESCO
16 Aug 2018 Appointments
16 AUGUST 2018Appointments to New Zealand National Commission for UNESCO
HON JENNY SALESA
Associate Education Minister Jenny Salesa is... more
Recruitment
Historic pay equity settlement for education support workers
14 Aug 2018 Recruitment
14 AUGUST 2018Historic pay equity settlement for education support workers
RT HON JACINDA ARDERN
HON CHRIS HIPKINS
Prime Minister
The... more
Historic pay equity settlement for education support workers
22 Aug 2018 Recruitment
14 AUGUST 2018Historic pay equity settlement for education support workers
RT HON JACINDA ARDERN
HON CHRIS HIPKINS
Prime Minister
The... more