The Government will today release the second National Construction Pipeline report; a follow on from the initial Pipeline report released in November 2013. These reports give guidance on industry direction to assist stakeholders with future planning and to ensure appropriate NZ has the appropriate level of skills and investment.
It will come as no surprise that the industry is well positioned and can expect significant growth over the next few years. it will also be no surprise that Auckland and Christchurch are to expect the lion’s share of that growth.
Some brief highlights from the interview with Dr Nick Smith are:
- $100billion over the next three years, of that around 25% is represented by Christchurch.
- Split is predicted to be around $52billion on residential and the remaining $48billion on infrastructure (it was unclear from the interview which area commercial construction will come under).
- Projected peak of construction in Christchurch is expected to be lower than initially though and will not be reached until a later than projected.
- Entering the longest sustained period of construction in 40 years.
- Average growth of 10% pa predicted over next three years.
- Auckland is expected to experience the fastest rate of residential construction growth ever.
- Despite the focus on Auckland and Christchurch, other regions are covered in the report and their individual growth prospects discussed.
Click here to listen to the interview on Radio NZ.
The second National Construction Pipeline report can be accessed by clicking here.