Construction work put in place nationally in the December quarter rose $235 million from the September quarter to a new high of $6.08 billion, and rose $1.555 billion for the year to $22.777 billion.
First, the positive figures for the 12 months through to the June quarter: all work put in place was up $2.6 billion on the previous 12 months to $20.6 billion.
The annual national construction pipeline report acknowledges an optimism bias in forecasting, then doesn’t seem to take it into account.
Fletcher Building Ltd has dropped its range earnings guidance for the year to June by $110 million (before interest, tax & significant items).
Forecasting in the third National construction pipeline report is for a steady growth of multi-unit housing’s share of the residential market in Auckland over the next 5 years, even though developers have won approval for a high proportion of new housing to be in greenfield special housing areas.
The Ministry of Business, Innovation & Employment has released the Guide to tolerances, materials & workmanship in new residential construction 2015.