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News5050 – Industry Reports
June 13, 2016
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In real terms, the industry’s output value rose at a compound annual growth rate (CAGR) of 6.60% during the review period (2011-2015), although this is expected to decelerate slightly to 6.07% over the forecast period.
Industry growth will be supported by government and private sector investments to modernize the country’s transport infrastructure and renewable energy sector. Population growth will also create fresh demand for residential construction
The government plans to invest NZD157.3 billion (US$110.0 billion) in infrastructure through the Thirty-Year New Zealand Infrastructure Plan to develop road and rail infrastructure.
A government fund to develop areas affected by earthquakes will support industry growth over the forecast period. It plans to invest NZD15.2 billion (US$10.6 billion) in redevelopment by 2018.
o Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in New Zealand using construction output and value-add methods
o Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
o Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
o Analysis of key construction industry issues, including regulation, cost management, funding and pricing
o Detailed profiles of the leading construction companies in New Zealand
o Residential property prices are rising constantly. According to the 12th Annual Demographia International Housing Affordability Survey, Auckland ranked as the world’s fifth-most-expensive city for residential property in 2016; up from ninth place in 2015.
o With the aim of providing affordable houses to middle- and low-income earners, the government established the Social Housing Reform Program (SHRP). In November 2015, the government announced that the program will build 1,000 social houses in Auckland by the end of 2018.
o Energy and utility construction is expected to benefit from the government’s aim to increase the share of renewable sources in the country’s total energy mix under the Energy Strategy 2011-2021. The share of renewable electricity will rise from 80.0% of the total energy mix in 2015 to 90.0% by 2025. Accordingly, the government aims to increase the capacity of hydro, solar and geothermal power plants by 2020 under a PPP model.
o Government focus on the development of the healthcare and education will drive growth in the institutional construction market over the forecast period. Despite a weak economic performance, the government increased total spending on education and healthcare by 3.0%.
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