Builders pivoting away from townhouses as new home consents surge
More signs of recovery in the construction sector.
Stats NZ data shows more than 41,000 new homes were consented annually to September – up 18%.
Standalone home consents rose 20% to the highest level in four years.
Townhouse consents are up 18%, and they're up 11% for retirement village units, but down 11% for apartments.
Combined Building Supplies Co-op CEO Carl Taylor told Mike Hosking they're seeing a shift in the market – just because we can fit six townhouses on a section, doesn't mean we have to.
He says a lot of the builders he talks to are starting to pivot their businesses as they're realising they can't actually sell those townhouses – especially if they don't have garaging or car parking.
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