The Productivity Partnership has released a National Construction Pipeline report pointing to an unprecedented level of building and construction in New Zealand to the beginning of 2019.
The Partnership commissioned Pacifecon (NZ) Limited to produce the report with the support of BRANZ.
The report forecasts a 10% increase in construction activity every year for the next four years, peaking in 2016 when nearly $32 billion of construction activity is predicted. It brings together economic forecasts and data from the public and private sectors on their forward construction workload.
This report is consistent with The New Zealand Sectors Report 2013 on Construction published on 20 November, but provides new information on the future industry workload including the nature and timing of planned construction activity by type and region.
The report forecasts an increase in construction right across the country in both residential and non-residential sectors. Construction hot spots are Auckland, followed by Canterbury and then Waikato/ Bay of Plenty and Wellington. The main drivers of growth are Auckland’s residential housing demand more than doubling (projected 150% increase) and the Canterbury rebuild.
This heads-up will enable the sector to plan and manage resources more effectively.
Read the media release here.