The construction of new builds is coming to a halt.

About 35,000 new builds were given consent in the last year – more than a 20% drop from the period ending April 2023. 

This is being chalked up to inflation and the cost-of-living crisis. 

Chief Executive of Building Industry Federation, Julien Leys, told Tim Beveridge “The Covid building boom is over.”

Leys said “Interestingly enough, the renovation market is doing quite well – and we’ve seen a bit of a boost come through with infrastructure.”

LISTEN ABOVE.

The construction of new builds is coming to a halt. 
About 35,000 new builds were given consent in the last year – more than a 20% drop from the period ending April 2023. 
This is being chalked up to inflation and the cost-of-living crisis.  
Chief Executive of Building Industry Federation, Julien Leys, told Tim Beveridge “The Covid building boom is over.” 
Leys said “Interestingly enough, the renovation market is doing quite well – and we’ve seen a bit of a boost come through with infrastructure.” 
LISTEN ABOVE.

Don't miss a thing while you're on holiday, with Tim Dower and Newstalk ZB Holiday Breakfast. Tim delivers the best in news, views and opinion to keep Kiwis informed and entertained while you're on the road, at the bach, or relaxing at home.

Don't miss a thing while you're on holiday, with Tim Dower and Newstalk ZB Holiday Breakfast.

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