More signs of recovery in the construction sector.  

Stats NZ data shows more than 41,000 new homes were consented annually to September – up 18%. 

Standalone home consents rose 20% to the highest level in four years. 

Townhouse consents are up 18%, and they're up 11% for retirement village units, but down 11% for apartments. 

Combined Building Supplies Co-op CEO Carl Taylor told Mike Hosking they're seeing a shift in the market – just because we can fit six townhouses on a section, doesn't mean we have to. 

He says a lot of the builders he talks to are starting to pivot their businesses as they're realising they can't actually sell those townhouses – especially if they don't have garaging or car parking. 

LISTEN ABOVE 

More signs of recovery in the construction sector. &nbsp;
Stats NZ data shows more than 41,000 new homes were consented annually to September – up 18%.&nbsp;
Standalone home consents rose 20% to the highest level in four years.&nbsp;
Townhouse consents are up 18%, and they're up 11% for retirement village units, but down 11% for apartments.&nbsp;
Combined Building Supplies Co-op CEO Carl Taylor told Mike Hosking they're seeing a shift in the market – just because we can fit six townhouses on a section, doesn't mean we have to.&nbsp;
He says a lot of the builders he talks to are starting to pivot their businesses as they're realising they can't actually sell those townhouses – especially if they don't have garaging or car parking.&nbsp;
LISTEN ABOVE&nbsp;

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more.

The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Carl Taylor: Combined Building Supplies Co-op CEO on new home building consents rising 18%, led by standalone homes

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/de81f458-9799-41a0-bb90-b4f701557b90/transcript

Welcome to the Midterms of 2026.

Quite possibly, if I can sound almost unpatriotic, they're more interesting as an exercise in democracy than our own election. 

It would seem a foregone conclusion that the Republicans, read Trump, will lose the House. 

It is less certain what will happen in the Senate. 

If it goes really wrong and both flip, stand by for any number of inquiries and impeachments. Stand by for retribution writ large. Stand by for two solid years of unmitigated mudslinging and lawyers. 

What Trump says is true: incumbents always lose something in the midterms. There is always pushback. 

It's also worth noting that before he started the war he talked of reversing that trend, of winning big. But his singular decision to go after Iran has sunk his presidency. 

In fact, an insightful piece I read the other day suggested the markets, specifically oil, should adjust to a permanent, unending standoff in the Hormuz Strait and the Middle East. 

In other words, this is the future. 

Some of the races, especially in the Senate, may not turn out to be the disasters the media want them to be. Being close, as in Michigan or Texas, is not losing. 

So let's see what the result is, as opposed to the polls and expectations. They wrote Netanyahu off as well, and as far as I can see he still stands a very real chance of leading the place. 

Trump, though, can't escape the simple truth that of any modern president, possibly any president of all time, he singularly has taken what by any measure was an astonishing political comeback and blown it sky high. 

People will forgive you a lot, especially an oddball like Trump, if you actually do a good job. If you do make America great again, you can build a ballroom and put granite on the helipad. 

But if you don't, and then lie about it and pretend everything is great when it isn't, you simply look insane. 

Which is exactly where he finds himself. 

Trump had got to the point, given previous results, where it was dangerous to second-guess him at the polls. But like most of the games he has played, that game is now up. 

This week he will get caned, and deservedly so. 

Welcome to the Midterms of 2026.
Quite possibly, if I can sound almost unpatriotic, they're more interesting as an exercise in democracy than our own election.&nbsp;
It would seem a foregone conclusion that the Republicans, read Trump, will lose the House.&nbsp;
It is less certain what will happen in the Senate.&nbsp;
If it goes really wrong and both flip, stand by for any number of inquiries and impeachments. Stand by for retribution writ large. Stand by for two solid years of unmitigated mudslinging and lawyers.&nbsp;
What Trump says is true: incumbents always lose something in the midterms. There is always pushback.&nbsp;
It's also worth noting that before he started the war he talked of reversing that trend, of winning big. But his singular decision to go after Iran has sunk his presidency.&nbsp;
In fact, an insightful piece I read the other day suggested the markets, specifically oil, should adjust to a permanent, unending standoff in the Hormuz Strait and the Middle East.&nbsp;
In other words, this is the future.&nbsp;
Some of the races, especially in the Senate, may not turn out to be the disasters the media want them to be. Being close, as in Michigan or Texas, is not losing.&nbsp;
So let's see what the result is, as opposed to the polls and expectations. They wrote Netanyahu off as well, and as far as I can see he still stands a very real chance of leading the place.&nbsp;
Trump, though, can't escape the simple truth that of any modern president, possibly any president of all time, he singularly has taken what by any measure was an astonishing political comeback and blown it sky high.&nbsp;
People will forgive you a lot, especially an oddball like Trump, if you actually do a good job. If you do make America great again, you can build a ballroom and put granite on the helipad.&nbsp;
But if you don't, and then lie about it and pretend everything is great when it isn't, you simply look insane.&nbsp;
Which is exactly where he finds himself.&nbsp;
Trump had got to the point, given previous results, where it was dangerous to second-guess him at the polls. But like most of the games he has played, that game is now up.&nbsp;
This week he will get caned, and deservedly so.&nbsp;

Mike's Minute: My verdict for the Midterms

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ac825aee-4aef-4edc-97b4-b4f7015d67ea/transcript

On the Mike Hosking Breakfast Full Show Podcast for Wednesday 4th of November, our dairy industry's hit a record high for production, and we look ahead to the unemployment figures coming out this morning.  

We ask Pete Seat, the former White House spokesman for George W. Bush, to give his verdict on the Midterms. 

And on Politics Wednesday, Mark Mitchell and Ginny Andersen give their thoughts on the election campaign one last time ahead of Saturday night. 

Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts. 

LISTEN ABOVE 

On the Mike Hosking Breakfast Full Show Podcast for Wednesday 4th of November, our dairy industry's hit a record high for production, and we look ahead to the unemployment figures coming out this morning. &nbsp;
We ask Pete Seat, the former White House spokesman for George W. Bush, to give his verdict on the Midterms.&nbsp;
And on Politics Wednesday, Mark Mitchell and Ginny Andersen give their thoughts on the election campaign one last time ahead of Saturday night.&nbsp;
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.&nbsp;
LISTEN ABOVE&nbsp;

Full Show Podcast: 04 November 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2d7043e7-830b-45a6-9268-b4f7014cf636/transcript

Most economists expect the latest unemployment figures to show the labour market has finally turned a corner.  

Stats NZ is releasing its latest quarterly data at 10.45am. 

Westpac is picking a fall from 5.6% to 5.5% for Q3 – the first drop in five years. 

Chief Economist Kelly Eckhold told Mike Hosking we've seen the strongest quarter of employment growth since the start of 2023, and that combined with slower population growth adds up to a falling unemployment rate. 

He says our economic growth is still unbalanced, but there's enough that we should see falls in the unemployment rate throughout the next year and a half.  

LISTEN ABOVE 

Most economists expect the latest unemployment figures to show the labour market has finally turned a corner. &nbsp;
Stats NZ is releasing its latest quarterly data at 10.45am.&nbsp;
Westpac is picking a fall from 5.6% to 5.5% for Q3 – the first drop in five years.&nbsp;
Chief Economist Kelly Eckhold told Mike Hosking we've seen the strongest quarter of employment growth since the start of 2023, and that combined with slower population growth adds up to a falling unemployment rate.&nbsp;
He says our economic growth is still unbalanced, but there's enough that we should see falls in the unemployment rate throughout the next year and a half. &nbsp;
LISTEN ABOVE&nbsp;

Kelly Eckhold: Westpac Chief Economist on the expectation the unemployment rate will fall slightly in Q3

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e0b63fce-156b-4bb5-9ef5-b4f7014fcd66/transcript

Carl Taylor: Combined Building Supplies Co-op CEO on new home building consents rising 18%, led by standalone homes

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