Housing 'overbuild' on horizon, says Westpac

Fri, 06 Mar 2020

The national rate of house building is at a new record high, with ‘overbuilding’ becoming a likely prospect soon as population growth slows, says a Westpac economist.Westpac senior economist Satish Ranchhod said he expected to see continued strength in construction activity over 2020, driven by house-building, even though commercial construction was soft in the last three months of last year, according to Stats NZ.“There is a shortage of housing in many parts of the country, strong increase in building consents and a large pipeline of non-resid...

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