The forecast for construction is as follows:
- Residential building will grow into 2017 and will peak at about 21 billion and will have a longer peak due to unmet housing demand in Auckland .
- Non-residential building will now peak at about 8.8 billion in 2018 and this is due to Canterbury anchor projects, a number of major university developments and expected increase in schools and retail development to coincide with residential growth.
- Other construction including infrastructure is forecast to grow steadily from 7.5 billion through to 8.2 billion by 2021.
Read the MBIE summary here