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There has been an absolutely huge amount of building going on - and while developers are sensitive to mortgage rates, they would have started building prior to
by lostlogin 3y ago
There has been an absolutely huge amount of building going on - and while developers are sensitive to mortgage rates, they would have started building prior to interest rate increases.
That said, had building slowed? It’s building sites everywhere I go.
- tmnvix 3y agoConsents are certainly down. I spoke with someone that helps developers with submissions and interestingly they said they are really busy right now. Turns out though, they aren't busy with new consents but 'minor amendments' - the purpose of which is to reset the 5 year timeframe for the original consent. In other words, they don't want to go ahead right now.
- robocat 3y agoThere's a graph of consents in this link that shows a huge drop in consents in last two years: https://www.stats.govt.nz/information-releases/building-consents-issued-january-2024/ https://www.stats.govt.nz/information-releases/building-cons...