![<i>Kevin Atkinson:</i> Home truths forcing everybody to adjust](/pf/resources/images/placeholders/placeholder_l.png?d=793)
<i>Kevin Atkinson:</i> Home truths forcing everybody to adjust
Credit crunch has changed the landscape for residential building, writes Kevin Atkinson
Credit crunch has changed the landscape for residential building, writes Kevin Atkinson
A report prepared by business researcher Infometrics is predicting house prices will fall 4.1 per cent by next June.
NZ's residential property sector remained subdued last month with permits for new construction edging up from a slump in May, while commercial property extended its decline.
The number of consents issued for new home building nudged up 1.7pc in June.
The number of consents issued for new homes fell 9.5 per cent during May, following a 13.4 per cent rise during April, Statistics New Zealand says.
About 10,000 new homes need to be built in NZ to keep pace with population growth and ease the current housing squeeze, a new report shows.
The seasonally adjusted volume of residential building activity rose 7.4 per cent in the December quarter, while non-residential volume fell 6.1 per cent.
The Government is defending its $347m home insulation scheme against criticism its 'one size fits all' approach is inadequate.
Builders will put up 18,000 to 20,000 new houses this year, according to a forecast.