Downturn and change coming for home builders: Westpac

Downturn and change coming for home builders: Westpac
Fletcher Building opened a prefabrication factory in 2019. (Image: Fletcher Building)
Staff reporters
Residential construction should slow in the second half of 2023 and the country is likely to end up with fewer larger and better-resourced building firms, according to Westpac economist Paul Clark.But those firms will increasingly become installers of prefabricated units, which will increasingly be imported.“At the moment, New Zealand’s residential building sector remains hot with activity levels and consent issuance currently running at record highs,” Clark said. “That is unlikely to last.”Data released on Thursda...

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