New Zealand’s property sector is experiencing a steady growth. Statistics show that building consents increased by 24% in July this year. With strong demand for residential buildings, demand for experienced builders remains steady as well.
Growth in Construction Activity
According to recent reports from Statistics New Zealand, the sector recorded 2,824 new building approvals on a national level. This is the highest figure documented since March 2005. Analysts explain that the driving force behind this growth is the dynamic construction activity of apartments, town houses, and flats.
In terms of economic value, approvals for all buildings amounted to $1.4 billion on July 2015: $976 million for residential buildings and $455 million for non-residential. Over $4 billion worth of construction activity was launched by the end of the 2nd quarter of 2015, an increase of 8% compared to 2014 of the same period. Experts say that this is the highest quarterly value documented in the 50 years since the series started, accounting for almost $900 work per contractor.
The report identified various regions that performed well in terms of total construction activity. Waikato records the most number of building consents, with an increase of 40%. Auckland also experienced a growth of 31%. In Canterbury, construction on non-residential buildings is considerably strong.
A Challenge for the Industry
The growing demand for apartments, town houses, and other residential properties presents the need for more experienced home builders who will sustain this growth and cater to the needs of the public.
Hayward Builders Ltd is an advocate of this cause. With their commitment to excellence in providing services, they help build and protect the credibility of the industry and accommodate the demands of homeowners.
In each building project, they prioritise not just efficiency, but also cost-efficiency, delivering services on time and on budget. They provide a range of home plans to suit the varying needs of families and homeowners. By working with Hayward Builders, clients can expect only the best services from certified builders.
To know more about the company and their services, visit haywardbuilders.co.nz.