N E W S 6 March 2017 New Zealand construction sector boom still has years left The New Zealand building boom is set to continue, according to leading industry analyst and economic forecaster, BIS Shrapnel. Boosted by surging net migration, accommodative monetary policy and robust economic growth, residential construction is set to rise further over the medium term, even as growth in the non-residential sector tempers. According to the latest Building and Construction in New Zealand 2017-2022 report, the total value of building authorised (including residential and non-residential) is expected to peak in the financial year ending March 2017 and will remain above $10 billion in the next two years before activity levels off. The slight decline in 2017/18 is expected to be the first year of negative growth in the overall sector for five years, while dwelling construction is forecast to continue growing until 2019/20, representing seven years of consecutive growth. Following a period of cyclical adjustment, construction activity is forecast to once again rise above $10 billion at the end of the outlook period in 2021/22, back near the record high reached this year. The dynamics of population growth is a major driver of • New Zealand construction activity forecast to remain strong after peaking this year. Solid dwelling building to continue in Auckland • High population growth to cause demand for housing to outstrip supply in the medium term • Non-residential building to simmer as Canterbury earthquake rebuild winds down Gates celebrates 30 years of Aussie business Customers, staff, industry partners and supporters celebrated in style to mark Gates Australia’s 30 year anniversary on February 17. The event gave attendees the opportunity to reconnect with industry colleagues and put a face to the email signature in the beautiful surrounds of Melbourne steak bar, The Cut. Guests were treated to hors d’oeuvres and drinks on arrival, before moving to the dining room to enjoy an array of delicate entrees, sumptuous steaks and petite desserts, all set within the dark wood paneling and old-world style of The Cut. “Gates has gone from strength to strength over the years. Thanks to the support of our customers we’ve grown out of two offices already and we’ve got a really enviable position in the market. This event was really an opportunity to celebrate where we’ve come from and thank all of those who have helped Gates Australia to get to where we are today,” said Gates Australia marketing manager, Priscilla Robb. The night was also a chance to look back on some of the exciting moments that have decorated Gates’ three decades in the country, and relive memories of years gone by. Throughout the night, a video played on screens behind guests, featuring images of past events, Gates products and facilities, and customer testimonials that echoed the feelings being expressed around the room. Managing director of Gates Australia, Carl McGowan, said on the night, “30 years in business for any type of company is an excellent effort. It is pleasing to say that a number of distribution partners have been with us for the whole journey; some even used the Gates Managing director, Carl McGowan, making some opening remarks
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