The “Golden Triangle” regions of Auckland, Waikato, and Bay of Plenty continue to dominate property development activity in New Zealand, accounting for close to 60 per cent of the annual national building consents issued. Bayleys Research’s latest Golden Triangle overview, part of its infrastructure series of reports, underlines the major contribution the three provinces make to New Zealand’s productivity and GDP. That represents an increase of over $1 billion in the last two years – from the $10.7 billion of building consents issued in 2019. “The strong development activity within the Golden Triangle has been across the whole property spectrum, with residential and commercial and industrial buildings being constructed in record-breaking volumes,” Ryan Johnson, Bayleys national director commercial and industrial, said. Johnson said the industrial sector has been leading non-residential building development activity, fuelled by the rapid growth in e-commerce and the associated demand for logistics premises.

Source: Stuff September 21, 2021 21:54 UTC