Tuesday, 12 March 2013

There is a stirring in the suburbs

It is so good to see the geotech work gathering momentum around the city. This, combined with increasing activity from insurance companies accelerating their settlement activity, is a sign of positive resolution to the long list of seriously damaged houses and the TC3 land issues. The flow-on effect of this area of the city’s rebuild will be very significant and we expect this to start to percolate through our regional economy in the first two quarters of this year. To date we have already seen a billion dollars paid out to contractors on the less seriously damaged homes with 30,000 out of 100,000 houses with minor damage repaired. Our regional economy is currently growing at 7.5%. Once the work really cranks up on the seriously damaged houses in Christchurch we had all better hold on to our seat belts. It will be a heady ride with positive economic activity locked in for years to come. And then there is the commercial rebuild !!!!

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