July 2015
www.waterfordpress.co.nz
Ashburton at Leisure Page 32
Chch building boom shows no signs of slowing Hugh de Lacy It may well have plateaued, perhaps even eased a bit since Christmas, but the $40 billion postearthquake construction boom in Christchurch continues unabated, and will do so for a while yet. Evidenced by the addition of 11,900 jobs to the Canterbury regional construction sector in the 12 months to March this year, and by continuing robust sales of light commercial vehicles, the demolish-and-rebuild programme that followed the 2010-2011 earthquakes is in full swing. John Ombler, the acting chief executive of the Christchurch Earthquake Recovery Authority (CERA), said that there may even be further growth. “The forecasts tell us that we can expect peak activity in construction through to about 2017, before an easing expected in 2018,” Ombler told Business South. There were, however, variations in the level of activity of the various construction sectors. “For example, EQC’s (the Earthquake Commission’s) Canterbury home repair programme is largely complete [but] at the same time there is still considerable repair and rebuild happening, and a huge amount of public sector work still in the pipeline.” This included schools, tertiary institutions, health facilities like Christchurch Hospital, the Metro Sports Facility and the East Frame residential neighbourhood. “We’ve had the opening of Christchurch’s new $53 million Bus Interchange, and work on the Justice and Emergency Precinct is well progressed.” Ombler said that overall building consent figures are on “a steady upward trend that we have seen every year since 2012”.
He noted that SCIRT, the Stronger Christchurch Infrastructure Rebuild Team of leading contractors charged with the rebuild of the city’s horizontal infrastructure, is 70% of the way through its programme. “Indicators such as economic growth and employment continue to show Canterbury leading the performance of major centres in New Zealand,” Ombler said. Backing up his positive outlook is the light commercial vehicle market, where sales have been “staggering,” according to David Crawford, the chief executive of the Motor Industry Association of New Zealand. Canterbury is at the forefront of nationwide sales that have gone up 14% in the year to date, after rising 25% in 2013 and 19% in 2014. Crawford told Business South that luxury vehicle sales, the lead indicator of demand changes for new vehicles - which forewarned of the 2008 Global Financial Crisis by slumping 12 months before it, and afterwards began to recover about 10 months before the rest of the market - were still going strong, up “very slightly” this year compared to last. Further, Dion Jones, the general manager of Turners Auctions, the country’s biggest motor vehicle auction house, said repossessions and arrears in the light commercial sector were “as low as they’ve ever been,” despite companies “discounting the pants” off new vehicles to encourage buyers to ante up the extra couple of thousand dollars for a new rather than a used one. Brian Warren, the chief executive of Christchurch’s Isaac Construction, said he had noted a drop-off in demand earlier in the year, “but it’s not as if it’s come to the top of a steep curve and dropped off the other side in a steep curve either”.
Creating the vibe.... Patrons unwind at the Vespa Bar in Christchurch’s historic Bonnington House. The building, which was restored by KPI Group in 2007, has recently reopened following damage incurred in the 2011 earthquake. It’s one of many central city projects completed by KPI Rothschild, which was also responsible for the high profile Stranges Lane
COUNTDOWN TO NARROWBANDING ARE YOUR TWO-WAY RADIOS COMPLIANT?
development. KPI’s Shaun Stockman says they are passionate about playing their part in reinvigorating the central city. “The vibe is definitely coming back to Christchurch which is why we are committed to rebuilding. Things can only continue to get better and better.” • Story page 6