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Greetings,
Welcome to the final edition of Build Up for 2024, our newsletter for commercial members and head contractors.
As we approach the end of the year, it’s a fitting time to reflect on the challenges and opportunities that have defined the commercial construction sector. Building activity has softened, with consents for the year to September totalling 3,649 and valued at $6.5 billion—a 10% decline compared to 2023. That said, the rate of decline appears to be stabilising, with June and September figures showing similar levels.
While the data offers some cause for optimism, it doesn’t always capture the full picture. I remain cautious, as the numbers can be skewed by a single large project rather than signalling a sustained upward trend. In such times, managing volatility is as much about managing relationships as it is about managing risk. Whether you’re a client, main contractor, or subcontractor, building trust and ensuring all parties have the confidence to proceed with a project is critical.
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