The value of consents issued for residential buildings in August 2006 was $694 million, 9.7% higher than August 2005, with the trend showing upward increases since March 2006. RMBF president Ashley Hartley says the August statistics show that the industry is still thriving.
“Residential construction within the regions, in particular Bay of Plenty, Wellington and Otago, reflect this trend, with increases in residential consents issued,” Mr Hartley says.
“While these figures trend well for the construction sector, we are still expecting the flattening in the market to continue over the next two or three years. “This will more than likely be caused by export incomes, conservatism on the part of business and the normal leads and lags in the building industry,” Mr Hartley says.