The dominant theme this week is construction – from the Cordell Construction Cost Index showing subdued cost growth to start 2024, through to new dwelling consents in February (still falling), to Stats NZ’s experimental dataset looking at completion timeframes and the number of code compliance certificates issued (dwelling completions) – we have it all!
Not only that, but the Government also announced its intention to allow more imported building products to be used in NZ dwellings, with the aim of controlling cost pressures.
The guys also cover off last week’s CoreLogic House Price Index for March, and filled jobs data for February – both releases were a little mixed.
It’s another busy one this week too, with more mortgage lending data due, along with CoreLogic’s Buyer Classification figures and Stats NZ rent figures for March. The Reserve Bank will top it off with another cash rate decision on Wednesday, which is likely to be no change at 5.5%.
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