A new report from Westpac shows tough times ahead for the building industry.

The figures show construction demand will fall due to cheaper house prices and rising interest rates.

The slowdown has already started in the North Island, where new stats show a decline in building consents being issued

Naylor Love Chief Executive Rick Herd told Mike Hosking Westpac might have even been a little optimistic.

He says there's a drop back in supply requirements from the residential sector, as well as tradespeople from the sector looking for work.

LISTEN ABOVE

A new report from Westpac shows tough times ahead for the building industry.
The figures show construction demand will fall due to cheaper house prices and rising interest rates.
The slowdown has already started in the North Island, where new stats show a decline in building consents being issued
Naylor Love Chief Executive Rick Herd told Mike Hosking Westpac might have even been a little optimistic.
He says there's a drop back in supply requirements from the residential sector, as well as tradespeople from the sector looking for work.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.