August 15, 2023
Master Builders fears slowdown
The Master Builders Association is warning the industry could be moving from boom to bust.
Chief executive David Kelly says low interest rates and government programmes triggered one of New Zealand’s biggest ever building booms, but the increase in rates over the past year has slowed activity.
He says it’s affecting many small builders who are good tradespeople and know how to run a business well, including many Māori firms.
“We have a number of Maori owned and run businesses as part of Master Builders broadly across the industry. It’s very significant and there is probably a disproportionate effect on the Maori community in that respect when there suddenly isn’t enough work and people get laid off,” he says.
Mr Kelly says Australia is better at managing boom-bust cycles, so there is a big risk of workers crossing the Tasman.