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Another article from stuff this time about Palmerston North.
No slowdown in city building boom
17 November 2003
Palmerston North's building boom shows no sign of abating, with a record 36-per cent increase in the number of building consents issued in the past financial year.
Palmerston North City Council issued 2440 consents for the financial year to June, and this year's figures already match last year's total, council planning and environment chairman David Ireland said.
The building boom was due to several factors, including confidence in the market, low interest rates and a prosperous rural economy, Cr Ireland said. Speaking at the council's presentation of its annual report, Cr Ireland said there was plenty of evidence of money being spent.
"People are spending on developing their homes and businesses or purchasing new property."
The building consents were for a mix of residential and commercial property development.
Reflecting a national trend, recent data show that houses in Palmerston North are selling at prices at least 15 percent higher and in half the time of the same time last year.
Driving the market are cheaper mortgages, low rates on savings accounts, an anticipated influx of personnel from Whenuapai Air Base, burgeoning student enrolments and private investors shunning equities in favour of property.
There was plenty of evidence in the city of businesses expanding and taking on more staff, Cr Ireland said. "Over the past few months, we have seen the massive Coca-Cola warehouse built, the Citel call centre established in the Telecom building in Main Street and stage one of Golf City started with stage two in the planning stages."
And last week, developers announced plans to build a $100-million megamall complex on the outskirts of the city near Rangitikei Line.
However, the project, spearheaded by local businessman Bruce Robertson, has yet to gain the appropriate resource consents.
regards
Another article from stuff this time about Palmerston North.
No slowdown in city building boom
17 November 2003
Palmerston North's building boom shows no sign of abating, with a record 36-per cent increase in the number of building consents issued in the past financial year.
Palmerston North City Council issued 2440 consents for the financial year to June, and this year's figures already match last year's total, council planning and environment chairman David Ireland said.
The building boom was due to several factors, including confidence in the market, low interest rates and a prosperous rural economy, Cr Ireland said. Speaking at the council's presentation of its annual report, Cr Ireland said there was plenty of evidence of money being spent.
"People are spending on developing their homes and businesses or purchasing new property."
The building consents were for a mix of residential and commercial property development.
Reflecting a national trend, recent data show that houses in Palmerston North are selling at prices at least 15 percent higher and in half the time of the same time last year.
Driving the market are cheaper mortgages, low rates on savings accounts, an anticipated influx of personnel from Whenuapai Air Base, burgeoning student enrolments and private investors shunning equities in favour of property.
There was plenty of evidence in the city of businesses expanding and taking on more staff, Cr Ireland said. "Over the past few months, we have seen the massive Coca-Cola warehouse built, the Citel call centre established in the Telecom building in Main Street and stage one of Golf City started with stage two in the planning stages."
And last week, developers announced plans to build a $100-million megamall complex on the outskirts of the city near Rangitikei Line.
However, the project, spearheaded by local businessman Bruce Robertson, has yet to gain the appropriate resource consents.
regards
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