Building and Construction Sector Trends: Annual report

Purpose of the report

The purpose of the annual report is to provide an overview of the current and emerging trends in the building and construction sector; and fulfills section 169 of the Building Act 2004.

About the 2023 report

The Annual report provides an overview of key data, and current and emerging trends in the building and construction sector for the period July 2022 to June 2023. It is the third instalment in the annual series launched in 2021.

Key findings from the 2023 report

• The building and construction sector continues to be a major contributor to New Zealand’s economy. Following a period of strong growth, the construction sector is experiencing a slowdown influenced by factors such as softening demand in the residential market, rising expenses for construction materials and wages, labour shortages and supply chain disruptions.
• New dwelling consents have returned to more sustainable levels after a period of record-high residential consents in early 2022. Investment in infrastructure is expected to drive construction activity, particularly in essential infrastructure repairs related to Cyclone Gabrielle recovery efforts.
• New Zealand’s innovation goals align with the global movement towards sustainable construction. Global trends in construction and design increasingly focus on low-carbon, sustainable principles. Emerging technologies offer integrated solutions for energy efficiency, reduced waste and streamlined workflows, enhancing efficiency, productivity, and safety in the construction process.

The latest report

Past reports