The RMBF is pleased to see that new housing consent numbers are continuing to slowly trend upwards.
RMBF chief executive Warwick Quinn says the latest building consent figures are a reflection on the level of enquiry members have been experiencing over the past four to five months, and are tentative signs that the industry is beginning what will probably be a long road to recovery.
“We’ve been seeing small incremental rises in the new build consent numbers since early this year, and the falls we were experiencing since mid-2007 have ceased. That’s a good indicator that we’ve been through the worst of it.” Mr Quinn says.
“However, this positive trend must be kept in perspective as the numbers are still very weak. We believe there will never be a better time to build or renovate then at this time, and consumers have a window in which to capitalise on this opportunity.
“Low financing costs, reduced builder margins, cheaper land and increased competition for work will only last so long, as on the other side of the equation property values are stabilising, immigration numbers are increasing and we are building below our required numbers.
“While we still have a way to go to get to the 20,000 new homes a year to meet demand and ensure we have a vibrant industry that retains its skills level, the outlook is definitely more positive than this time last year,” Mr Quinn says.
The seasonally adjusted number of new housing units authorised for July is at its highest since September last year. The numbers for apartments has dropped off slightly for the month and the commercial sector has had a small decrease of 3.2% since July 2008.