New Zealand’s services sector activity slipped further in April, touching the lowest level in more than six years and adding to concerns about an economic slowdown.
Confidence in the economy remains at historically low levels along with Australia – something which tends to be blamed on either Government policy or the political leanings of business owners, depending on your perspective.
But as ANZ chief economist Sharon Zollner points out, confidence is at least consistent with a slowing of domestic growth.
Whether the slowdown is a symptom of low confidence or the cause remains area of contention.
Rate cuts by the country’s central banks in response to the developing global financial crisis were an early indicator of the rich world’s plummet toward a zero interest-rate policy.
There are a number of new projects especially in the West Auckland area instead of developing they are being sold off in super lots. Or as whole on the market land supply want more buyers.
Bank wall has fallen; some banks are dropping staff too.
New Kiwi projects thrown out to the market as new and hard ‘stock’ while the retail markets are struggling with sales volumes dropping. We will see more and more commercial properties out into the market From here on ‘FOR SALE’ as lack/drop of tenants.
There is still prime land available for Demo or development in Auckland’s up market suburb such as St Marys Bay. Only a 6.5% drop in this area.
Jobs around the real estate industry have increased and it is going through a restructure as Small Real Estate Companies are playing major/shifting roles in the changing market for flexibility and service according to suppliers report.
We have 32 super lots in Hobson and 500 lots of units for new subdivision for sale, as the unitary plan changes, causing West full of ‘land to be consented’
As the North Shore is leading the games of ‘Moving Forward’ in need of a changed.
Planning areas need more developing leaders not only from Australia and China, but local ones, for the major big areas in development such as Wanui, Stillwater and Warkworth. As for business plans and networking are proceeding well.
– Matty Ma