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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.
Press Release – Ministry of Business Innovation and Employment
The National Construction Pipeline Report 2020 released today forecasts a short-term decline in construction activity as a result of the COVID-19 pandemic.
The Report commissioned by MBIE provides a projection of national building and construction activity for the next six years, through to 31 December 2025, based on current settings. It includes national and regional breakdowns of actual and forecast residential building, non-residential building and infrastructure activity.
“While there is a lot of uncertainty as a result of the pandemic, the Report expects a decline in the total value of construction through to 2023, before it starts to recover,” says John Sneyd, General Manager Building System Performance, Ministry of Business, Innovation and Employment.
Press Release – Ministry of Business Innovation and Employment The National Construction Pipeline Report 2020 released today forecasts a short-term decline in construction activity as a result of the COVID-19 pandemic. The Report commissioned by MBIE provides a projection of national building and construction …
The National Construction Pipeline Report 2020 released today forecasts a short-term decline in construction activity as a result of the COVID-19 pandemic.
The Report commissioned by MBIE provides a projection of national building and construction activity for the next six years, through to 31 December 2025, based on current settings. It includes national and regional breakdowns of actual and forecast residential building, non-residential building and infrastructure activity.
Monday, 21 December 2020, 4:15 pm
The National
Construction Pipeline Report 2020 released today
forecasts a short-term decline in construction activity as a
result of the COVID-19 pandemic.
The Report
commissioned by MBIE provides a projection of national
building and construction activity for the next six years,
through to 31 December 2025, based on current settings. It
includes national and regional breakdowns of actual and
forecast residential building, non-residential building and
infrastructure activity.
“While there is a lot of
uncertainty as a result of the pandemic, the Report expects
a decline in the total value of construction through to
2023, before it starts to recover,” says John Sneyd,