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The building and construction industry in New Zealand is bound to experience unprecedented growth in the coming years, according to the Productivity Partnership’s second National Construction Pipeline Report. Their conclusion is supported by data from Statistics NZ and forecasts by Pacifecon NZ Ltd and BRANZ, including both residential and commercial building.
Key points found in the report can be summed up as the following:
- Construction activity New Zealand wide will continuously grow in the next few years.
- An increase of at least 10% should be expected up until 2017.
- The peak of the construction activity in New Zealand is estimated to happen in 2016.
- In terms of value, the construction activity endorsed in June of last year was below what was recorded in 2007.
- There will be a rapid rate growth of residential construction in Auckland and rebuild in Canterbury.
‘Growth in construction activity is on the cards for every region in New Zealand’, says building and housing minister Dr. Nick Smith. Auckland is predicted to have the highest level of activity this year as it accounts for more than one-third of incoming projects in terms of value. A boom in residential building is expected as the construction of new homes for families continues in the years to come.
Auckland and Christchurch, being two of the largest cities in New Zealand, are driving most of the construction demand. A generous budget is to be spent on education, transport, infrastructure and other related building projects in the next few years. Canterbury is currently filled with construction sites and this will increase further in 2015 while Auckland will be seeing more and more tower cranes.
The construction activity boom will not be limited to Auckland and Canterbury as other cities like Hamilton also have several infrastructure and private CBD projects that are in planning or already underway. The rate of housing consents has significantly increased and there are numerous commercial developments in progress.
We're excited to see the ongoing growth in the construction industry and want to ensure builders and tradies are all well equipped and secure while working onsite with all their incoming business.
Make sure your team have all the tools required to get the job done!
