Executive Summary
HOUSING
Houses under construction 12% ON 2020
The big question is whether there is capacity left in the construction sector to continue to grow at the current rates. Not only has the closure of international borders meant that there is a lack of migrant workers coming in to fill job vacancies, but the production and importation of building materials is under huge strain. The sector has reported delays of six months on building materials. GIB has reported that it will increase manufacturing of its plasterboard by 20% in 2022 to try and meet demand. Australia is also running a campaign to attract construction workers to meet their increased demand, which may well result in a net decline in workers when the borders reopen. There are significant uncertainties remaining and little information that supports the ability of the sector to continue to grow.
Housing
The growth in the number of homes under construction is reflected in the number of businesses in the construction sector which increased 48% over the last 10 years to hit 2048 in 2021. Construction contributed $845 million to our economy in 2021 and employed over 9500 people.
UP
Economy
The residential construction sector has boomed in Hamilton over the last 10 years. At the end of 2012, there were 317 houses under construction. This had increased to 817 in 2016 and has continued to increase through 2021.
1170
houses under construction
Introduction
The number of houses under construction is constantly changing as some are completed and others begin construction. The number of houses under construction on 31 December 2021 was 1170 which was an increase of 15% compared to a year earlier.
Commercial
Houses under construction Source: Hamilton City Council As at 31 December each year 1400 1200 1000
People
800 600 400 200
30
2012
2013
2014
2015
2016
Hamilton City Council - 2021 Hamilton Annual Economic Report
2017
2018
2019
2020
2021
Central City
0
