Consolidation in New Zealand’s residential construction industry has resumed since 2011 as building activity has recovered from the Global Financial Crisis. In 2017, the 100 largest firms made up almost 40% of consents, although that figure slipped to 37% in the March 2018 year. We had expected this trend of consolidation to take place, but it contrasts with a declining market share for the top 100 firms in Australia. Does this apparent fragmentation of the market in Australia foreshadow a similar change for New Zealand?
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New Zealand’s provincial economies are poised to drive growth in the economy, building on the recovery in dairy prices during 2016, according to Infometrics latest economic forecasts. Spending activity in the regions is comfortably outpacing activity in the main centres, with commodity prices for most exports holding at high levels.
Earlier this month, Infometrics economist Brad Olsen spoke at the Economic Development New Zealand 2018 Conference ‘Mahi Tahi’ about how to move towards measuring inclusive growth in NZ’s regions. This article summarises the key points of his presentation.
Small area boundaries have changed in New Zealand and Infometrics is gearing up for the changeover. We are evolving our Small Area Economic Profiles (http://www.infometrics.co.nz/product/small-area-profiles) into a more comprehensive Small Area Economic Framework based on the new boundaries.
Infometrics welcomes Rob Heyes as their newest senior economist. Rob joins Infometrics from MBIE, where he led research projects on migration trends and was the New Zealand representative to the OECD Migration Expert Group. Rob has a deep knowledge of labour markets and skills and works with our regional and sector clients.
We chat with Rob about what a day in the life of an economist looks like…
The latest Infometrics Infrastructure Pipeline Profile shows that average infrastructure investment across the country is expected to be 28% higher over the next 10 years compared to the 2010-2018 period. A total of $129 billion in capital projects are estimated to be built over the 2019-2029 period.
In light of National Drive Electric Week happening this month we thought we’d talk about how businesses can access funding for their electric vehicle ventures.
The August Monetary Policy Statement was the most influential yet under new Governor Adrian Orr, even though there was no change to the official cash rate (OCR). Mr Orr pushed out expectations for a rates hike until 2020, sending the New Zealand dollar sharply lower.
But it was the Governor’s assertion that rates could and would move lower, if weak indicators persist, that is both his biggest warning and most questionable stance.
Our latest Infrastructure Pipeline Profile sheds light on which infrastructure areas local councils are looking to invest in over the next 10 years. Capital spending by local councils is expected to top $53b over the next decade, compared to $39b over the previous nine years.
Gareth Kiernan, Infometrics Chief Forecaster, is available to present his insights into building & property, infrastructure and transport sectors, as well as the New Zealand economy in general. We offer national level insights, as well as a strong focus on individual regions.