Building intentions point to elevated activity for next few years

By Paul McBeth | Fri, 29 Nov 2019


Economists expect construction activity to remain elevated for at least the next couple of years as cheap finance, recovering house prices, and a still-expanding population support demand for new buildings. New residential building consents decreased 1.1 percent in October, less than some economists had expected after a 7.4 percent jump in the prior month. At 3,406, permits for new homes were up 16.4 percent from October last year, reflecting double-digit growth in demand for apartments, retirement village units, townhouses, flats and unit...