New data shows building activity is down 2.3% on the last quarter.

Naylor Love Chief Executive Rick Herd blames the drop on a decrease in commercial property activity due to the high cost of building.

He told Mike Hosking that a lot of the private development work that was happening previously is on hold, as developers wait for interest rates to drop.

But the total building value is $9.3 billion, up slightly on the same period last year.

LISTEN ABOVE

New data shows building activity is down 2.3% on the last quarter. 
Naylor Love Chief Executive Rick Herd blames the drop on a decrease in commercial property activity due to the high cost of building. 
He told Mike Hosking that a lot of the private development work that was happening previously is on hold, as developers wait for interest rates to drop. 
But the total building value is $9.3 billion, up slightly on the same period last year. 
LISTEN ABOVE

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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,...