Intersection between business migration and property • • •
•
Finally June 2006 The economy has clearly ended its recent period of unusually strong growth and is now tracking along at below average pace. The housing market is cooling and it is freezing cold!! Consumer confidence is deteriorating. The One News Colmar Brunton poll revealed that during May, consumer confidence about the economy over the next 12 months dropped to a net 38% pessimistic from net 29% pessimistic in the last survey taken in March. There has been a downward trend in the number of dwelling consents. In April, the total number of dwelling consents issued was 25,330 and this was down from 29,329 from a year ago. It is expected that there will be some property developer casualties.