Building Consents trend still low

June 30th  2010                                                                                                 
MEDIA RELEASE

Building Consents trend still low

Statistics New Zealand have just released the May monthly building consists. Hawke’s Bay’s consent numbers have decreased month-on-month and  the  trend remains still at a low level.  Nationally (excluding apartments), the seasonally adjusted number of new dwellings authorised in May 2010 fell 9.5 percent, after rising 13.4 percent in April 2010. The trend has been increasing since March 2009, but remains at a low level.

‘Building consent numbers in May are the lowest since August last year’, said Chamber CEO Murray Douglas. ‘In April the number of new dwelling consents was 80 for Hawke's Bay but by May this encouraging  increase had exactly halved ‘.

‘This confirms our comments last month that the pattern of increase in consent numbers and value is steadily increasing but it is off a low base and we have to still be cautious about any local recovery,’ said Mr Douglas.

‘Commentators have suggested that building will need to increase to meet the demand from new Zealanders returned to our shores from overseas as a result of the global recession. Unfortunately the latest migration trends show we again have an increasing outflow, particularly to Australia which anecdotally is also affecting Hawke’s Bay. The simple fact is we have to generate more jobs locally to keep out people employed and our regional economy growing’, concluded Mr Douglas.

For further information contact Murray Douglas, Chief Executive, Hawke’s Bay Chamber of Commerce,
06 876 5938 or 021 986666.

ENDS