Building activity lifts
Fletcher Building expects New Zealand building activity to outpace that in Australia in the next year.
Fletcher Building general manager of investor and media relations Philip King said it was forecasting that New Zealand residential and commercial consents would continue to increase modestly.
Australian residential activity, however, could experience more volatility and commercial construction was likely to remain subdued.
Infrastructure was the only construction area where Australian building was expected to remain steady, he said. "What we're seeing is Australia has been slowing down over the last 15 months in their new housing consents and New Zealand has been picking at the same time.
"Australia has had quite strong housing over the last several years, where New Zealand reached all-time lows with its housing, exacerbated, of course, with what has happened in Canterbury."
But the sector has strengthened in New Zealand and the number of issued residential consents has risen 14 per cent, from 13,539 for the year to June last year, to 15,414 for the year to June this year, according to Statistics New Zealand. Fairfax NZ
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