There may be light at the end of the tunnel for the construction sector with the latest rise in residential building consents.
New home consents in the year to September are up 3.6% on the year before.
Consents in the month of September are up 7.3%, when adjusting for seasonal effects.
Certified Builders Chief Executive Malcolm Fleming told Mike Hosking builders are welcoming the upward trend.
He says builders are starting to get more enquiries and more projects.
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Episode Transcript
We're not done with housing yet either. Building consents have
risen three months straight September up seven percent on August
twenty seven percent higher than a year ago. September also
saw the highest number of new homes consented more than
two years. Malcolm Fleming is the New Zealand Cervid Builders CEO,
and he's with there's Malcolm morning, good morning. You're seeing
and feeling it.
Speaker 2 (00:19):
Yes, we're seeing a trend, which is most welcome news.
We're seeing it on the ground as well. I'm hearing
from members that are starting against greater levels of inquiry.
Projects that have been sitting on the back burne for
a little while. We're starting to come to the forge.
Speaker 1 (00:31):
Is it all Queenstown and Auckland or is it spread
more widely?
Speaker 2 (00:35):
Notice spread more widely than that. And we're still focusing
here on new home consents, but elsewhere in the market.
We had some welcome news from the government about six
weeks ago, you might recall, Mike, we had the schoolworks
projects so ready to go, and then the following day
we had six hundred remain ods with the Defense Housing
so all we again we welcome news.
Speaker 1 (00:56):
That's what we call a pipeline, isn't it, Malcolm.
Speaker 2 (00:59):
We need the pipeline. The pipeline was blocked and we've
had some unblockage along with this new house and content work.
It's coming through, all the consenting round it's coming through,
and of course I see our drops as well. It's
all starting to amalgamate to the positive picture.
Speaker 1 (01:14):
And you think it's tangible, it's real and it will
flow into next year.
Speaker 2 (01:19):
I think we're going to see in twenty twenty seven
we're going to start to see that list that we've
been looking for for quite some time. And we couldn't
put this recovery off any on good stuff.
Speaker 1 (01:26):
Malcolm, appreciate it very much. Malcolm Fleming, can you handle
the good News? New Zealand certified build a CEO. For
more from the mic Asking Breakfast, listen live to news talks.
It'd be from six am weekdays, or follow the podcast
on iHeartRadio
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