In 2008, new brake requirements meant that the available supply of used commercial vehicles within the medium-heavy weight class plummeted, and demand for new vehicles soared. Fast forward a few years later and new medium-heavy vehicles have maxed out their advantage from the rule change. Competition from used vehicles has begun to eat away at the market share of new medium-heavy trucks and will continue to do so going forward.
Having recently worked both in London and for Canterbury Development Corporation, Kelvin has extensive experience of property market analysis, both residential and commercial, and from an investment and development perspective. He has a thorough understanding of the issues and constraints faced by regional policy and decision makers.
Employment in the construction industry grew 7.7% in the year to March 2017, according to Infometrics estimates. This growth was the sixth consecutive year of expanding employment, following on from a total increase in job numbers of 15% since 2011. Unsurprisingly, the bulk of the latest year’s lift in employment took place in Auckland, and the region is expected retain its lead for employment growth over the next four years. In contrast, employment in Canterbury’s construction sector has begun winding down as both residential and non-residential rebuilding activity have come down from their 2014 and 2016 highs. We’re anticipating about 3,000 job losses in Canterbury’s construction sector over the four years to March 2021.
Auckland is New Zealand’s engine and is expected to outperform the national economy over the next four years, according to Infometrics Regional Perspectives report released today. The Infometrics Regional Perspectives report provides an outlook for economic conditions in New Zealand’s regions and industries over the next four years.
The New Zealand economy has entered 2017 in good spirits, with Infometrics’ latest forecast predicting GDP growth over the three years to June 2019 will average more than 3.0%pa. However, Infometrics Chief Forecaster Gareth Kiernan believes the solid outlook for growth masks several risks that hang over the economy.
The New Zealand economy entered 2017 in fine fettle. Despite dairy prices at GlobalDairyTrade auctions having fallen 3.8% since their early December level, the price index is up a massive 66% from its low point in the first quarter of 2016, with whole milk powder prices having risen 77% over the same period. Both price measures hit 2.5-year highs earlier in December.
With its population forecast to increase by 254% within the next decade, Hobsonville is the fastest-growing area in Infometrics’ Regional Hotspots report released 24 November 2016.
“Capacity” is a word that is often heard with reference to Auckland’s current building boom. The stresses are not surprising given that residential consent numbers in the region have almost trebled since 2011, while there has also been a 43% surge in the volume of non-residential consents in Auckland over the last 11 months.
Shifting our vehicle fleet to renewable electricity is an obvious and urgent action if the government is to achieve the greenhouse gas (GHG) emissions target it set itself last year in the lead up to the Paris climate conference. A recent report by Concept Consulting confirmed that electric vehicles (EVs) would be a sensible way to reduce our GHG emissions.
New Zealand’s economic outlook is changing. Infometrics released its comprehensive July 2016 economic, building, and transport forecasts on Friday 22 July, which paints a sunny picture for the next few years, but a serious hangover thereafter.