Building optimism in 2021
An award-winning Jennian Home in Masterton. PHOTO/FILE
Residential housing remains strong
Leaders of the Wairarapa construction industry disagree with forecasts of a nationwide decline in construction activity.
The National Construction Pipeline Report, commissioned by the Ministry of Business, Innovation and Employment [MBIE], projected that New Zealand would see a decrease in construction activity through to 2023 as a result of covid-19.
The report predicted that residential activity – the largest contributor of national construction – would be hit hardest.
According to the report, the value of residential construction would fall 43 per cent from $23.7 billion in 2019 to $13.4 billion in 2023, as banks tightened their lending requirements.