The Premium Debate: Inquiries for new builds could lead to job losses

Residential new build inquiries have plummeted by between 70 and 80 per cent. Photo / Getty Images

OPINION

A building industry leader says inquiries for residential new builds have plummeted between 70 and 80 per cent - prompting fears of job losses and predictions some companies will struggle to survive the year. Skyrocketing material costs, tougher bank lending, higher home-loan interest rates and soaring inflation, which has hit 7.3 per cent, are being blamed for the massive drop in inquiries.

Read the full story: New build inquiries drop by up to 80 per cent, more companies could go bust alongside job losses

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The reason we aren't going ahead with our small renovation is a job that was estimated at $26k last year came back as a quote of $78k. A plumber quoted $5k to remove a toilet. An electrician wanted $8k to put in four new lights and extend the power circuit. These have very little to do with anything other than naked greed. Start making sensible quotes and I will be delighted to give other people the work. Carry on like this and I will do it myself.
- Dave J

Yet another disaster driven by the left's obsession with quantitative easing. This Government-fueled inflationary spiral and the left's hysterical attack on fossil fuels will drive the west into depression.
- Justin L

This is what happens when a government gets distracted by ideological projects during a pandemic and economic crisis. So much they could have done over the last three years to help mitigate but oh no they needed the borrowing to fund their ideological projects. This is going to hurt, especially since they and this country remain in denial.
- David H

Doesn't bode well for all those apprentices Labour has pushed into training.
- Andy G

I am reminded of that song, "I'm glad I'm not a Kennedy" by Shona Laing, but repurposed for 2022 to "I'm glad I'm not a developer". And by the way, how come New Zealanders think that every problem that industry or the people face has to have a Government solution? That's crazy.
- David B

I feel another task force announcement coming.
- Richard M

New housing demand is down and more people leaving New Zealand than coming in but our political parties still want to destroy our heritage areas for infill housing? Something doesn't add up.
- Susan B

Maybe I can soon get a builder, electrician or plumber without having to wait months.
- Colin R

The building industry has been on an extraordinary high for the past two years. We can now see why it is important not to give in to the demands for more immigrants to fill the gaps. Had we flooded the country with what is often cheap labour when the boom is over and they are unemployed, we face the cost of paying them a benefit. It would be much better if we steadily increased our housing rather than boom and bust. Slowly we are returning to normal and it is predicted that unemployment will rise. Hopefully, those who lose their jobs in one industry will fill the gaps in other areas such as hospitality. Every person we bring in from overseas is more stress and demand on our services/budget. We need to wait, and train our school leavers to fill positions, rather than import more problems.
- Sandra H

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