In the first major sign that the building sector has peaked, national housing consents in January dipped 6.3% and are likely to stay at these reduced levels.
Infratil and the New Zealand Superannuation Fund bought RetireAustralia in late 2014 for A$640.2 million.
Fletcher had an exclusive deal, but a new builder now has plans for 102 homes in central Christchurch.
Kiwibank's lending is growing faster than its profit, eroding its equity position.