The latest building consent data drive home the dismal flow-on effects of a flat recession plagued market encouraged by Government moves to hike GST and discourage investment.
It confirms my oft repeated view that we are heading for a major shortfall in housing stock which will be exacerbated by the losses from the Christchurch earthquake, leaky homes etc. On the flip side it must eventually mean rising prices and rising rents in the not to distant future . Investors take note.
see interest.co.nz article: Building consents for houses, apartments fall 9.7% in Feb to 2 year low, Stats NZ figures show