The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
FINAL CHANCE TO REGISTER FOR URBANITY-25 JOIN MORE THAN 550 ALREADY ATTENDING
LAST CHANCE TO REGISTER FOR URBANITY 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
RetailStaff WriterSun 15 Feb 15

New Zealand Construction To Become A NZD$8.4 Billion Industry

A

According to BIS Shrapnel’s Building and Construction in New Zealand 2015-2020 Report, the New Zealand construction sector is set to see a boost in activity – taking the total industry value to a record high.

Report Author and BIS Shrapnel Senior Project Manager, Adeline Wong said the building sector would be boosted by an increase in dwelling alterations and new developments.

“This [boost in activity] will help drive total dwelling authorisation value to record highs of an estimated annual average of NZ$8.4 billion in real terms, compared to the previous high of NZ$6.1 billion over the period from 2000 to 2005,” Ms. Wong said.

The building sector is expected to peak in 2015/16 at NZD$14 billion, backed by further seven per cent growth in dwelling consent in the Auckland region and in the country’s non-residential building sector.

Over the following four years to 2019/20, total residential and non-residential building authorisations are projected to remain near this new peak level of NZD$12-13 billion per annum.

The building sector during this period will be underpinned by positive economic growth, and population growth through reasonably strong net immigration.

Ms. Wong said to expect strong growth again within Auckland in the second half of the forecast period of five years.

“The housing sector in the Auckland region is likely to be supported by a number of factors, particularly by the city’s prevailing housing stock deficiency (albeit a rate that is improving) as housing demand there continues to outpace new supply,” Ms. Wong said.

While Christchurch reconstruction will provide a major boost to the non-residential building activity over the next five years, BIS Shrapnel also expects a pick-up in new building and refurbishment activity in the office, retail and educational building sectors in the North Island.

RetailResidentialOfficeEducationInternationalConstructionConstructionSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Warren and Mahoney Western Bulldogs Women's Health and Leadership Hub HERO
Exclusive

Beyond the Boys’ Club: Inclusive Architecture Disrupting Sporting Precincts

Leon Della Bosca
7 Min
Exclusive

Inside the $10m Heritage Refit of Sydney’s $25,000-a-Year Members’ Club

Taryn Paris
4 Min
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
7 Min
Exclusive

Why Sentinel is Betting Big on Olympic City Office Sector

Phil Bartsch
5 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
View All >
Warren and Mahoney Western Bulldogs Women's Health and Leadership Hub HERO
Exclusive

Beyond the Boys’ Club: Inclusive Architecture Disrupting Sporting Precincts

Leon Della Bosca
Development

Zen Group’s West End Towers Greenlit

Taryn Paris
Goldfields Kyneton Central Edgecombe Road precinct rendering
Development

Goldfields Forges Ahead on $150m Kyneton Central Hub

Leon Della Bosca
Bunnings, McDonald’s to anchor $70m first stage at Kyneton Central, with the developer weeks from announcing major tenan…
LATEST
Warren and Mahoney Western Bulldogs Women's Health and Leadership Hub HERO
Exclusive

Beyond the Boys’ Club: Inclusive Architecture Disrupting Sporting Precincts

Leon Della Bosca
7 Min
Development

Zen Group’s West End Towers Greenlit

Taryn Paris
2 Min
Goldfields Kyneton Central Edgecombe Road precinct rendering
Development

Goldfields Forges Ahead on $150m Kyneton Central Hub

Leon Della Bosca
3 Min
Court Place in the Subi East precinct is set to deliver 447 new homes, including 300 affordable and 147 social homes in a prime location just four kilometres from the Perth CBD.
Community

Providers Selected for Subi, East Freo Housing Projects

Renee McKeown
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/new-zealand-construction-become-nzd8-4-billion-industry