Key facts
- New Zealand home-building activity has reached a 10-year low.
- Demand for new dwellings and alterations has decreased.
- A stagnating housing market is a key factor.
- Global uncertainty is also impacting the sector.
Home-building activity in New Zealand has declined to its lowest point in a decade. This downturn is attributed to a combination of factors, including a stagnant domestic housing market and broader global economic uncertainty. These conditions have collectively dampened demand for both new residential constructions and alterations to existing properties. The slump indicates a significant slowdown in the construction sector, reflecting broader economic headwinds affecting consumer and investor confidence in the property market.