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Hot Topic Summer features
Hot Topic Summer features
Property
2 mins to read

Construction down by $5.2 billion last year

And more to come as the hangover from the high rate lending cycle persists.

Multi-unit home build consents were down 14.8% in 2024.

New Zealand's inflation fighting cycle and 18-months at peak interest rates, helped carve $5.2 billion out of the housing and non-residential build tally last year.

The prognosis is it could knock another half a billion dollars from that by the end of this year.

The latest national construction

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Brent Melville Tue, 07 Jan 2025
Contact the Writer: bmelville@nbr.co.nz
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Construction down by $5.2 billion last year
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