Summerset Group Holdings, the listed retirement village, has been granted resource consent for its $80 million Wigram village, its first in Christchurch. The new site will have some 200 units, including villas, townhouses and care apartments as well as 50 hospital-level beds, the Wellington-based company said in a statement. Building will begin next month with first homes opening late next year. …
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Fletcher Building wins government contract to build 237 homes in Christchurch
Fletcher Building has won a contract to build 237 homes on an 11.5-hectare Crown-owned site in Christchurch, including 89 which will be priced below $400,000, Housing Minister Nick Smith said. Construction is expected to begin by the end of the year at a build rate of 10 homes a month and a completion date of 2017, Smith said in a statement. The land …
Read More »Christchurch City credit rating cut over consenting debacle
Christchurch City Council had its credit rating cut one notch and is still on a negative outlook after losing its accreditation to issue building consents. Global rating agency Standard & Poor’s cut the long and short-term ratings to A+/A-1 from AA-/A-1+ after lowering its assessment of the city’s political and management strength, it said in a statement. The downgrade comes …
Read More »NZ building consents rise 1.3 percent in May on Auckland, Christchurch construction
New Zealand’s new building consents rose in May, adding to a surge in April, as construction intentions Auckland and Christchurch underpinned growth in the sector. New building permits rose 1.3 percent to a seasonally adjusted 1,818 last month, with a big build up in Auckland apartments, Statistics New Zealand said. The rose 21 percent in April. Stripping out apartments, seasonally …
Read More »NZ labour costs rise 0.5 percent in December quarter as Canterbury rebuild picks up pace
New Zealand labour costs rose in line with expectations in the final three months of 2012 as the gathering pace of Canterbury’s reconstruction effort saw the building and construction sector underpin gains. Private sector salary and ordinary time wages rose 0.5 percent in the three months ended Dec. 31, as expected, and maintaining the same pace of growth from a …
Read More »Govt splits Christchurch rebuild wallboard needs between local and German supplier
A $40 million government procurement deal to supply wallboard for the Christchurch rebuild is being used as a way to inject competition into New Zealand’s high-cost home building market. With home affordability a hot political issue, and lack of competition for building supplies identified as a key issue by a Productivity Commission report, the government has announced it will split …
Read More »Relocated Christchurch workers face unwelcome new tax rules
Workers who have relocated to Christchurch at their employers’ expense risk having their accommodation costs treated as income under a new tax department ruling described by one major accounting firm as “a significant and unwelcome change in approach”. The Inland Revenue Department issued a special “Commissioner’s Statement” on the issue today, saying employers will be required to count accommodation costs …
Read More »EQC reinsurance costs treble, leaving Crown vulnerable in big event
Fletcher not abusing its role running Canterbury home repairs, EQC says
Fletcher Building, the country’s biggest listed company, isn’t abusing its position as the Earthquake Commission’s go-to guy for home repairs in Canterbury, and is providing “satisfactory value for money.” EQC chairman Michael Wintringham told Parliament’s finance and expenditure committee that Fletcher’s role managing the repair programme has met the government-backed natural disaster insurer’s criteria around cost, quality, timeliness and safety. …
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