As we get further in to the rebuild the numbers are becoming more definite. There is $100 million being spent weekly, every week, on the rebuild at present. That shows in every aspect of the city’s economy.
There is no doubt now that we are looking at, at least $40 billion total cost. Maybe more in repairs when cost escalation and betterment are taken into account. $20 billion of that is attributed to housing, $10 billion to commercial rebuilds, $7 billion to civil construction and $3 billion to infrastructure.
When everything is averaged out it looks as if we are about 25% into the rebuild. Horizontal infrastructure repairs are leading the way with probably 60 % of repairs completed. Housing is advancing rapidly with around 30% of repairs completed and commercial rebuild is now well under way with approximately 15% over all now completed. The major projects in our central city are advancing and it was a real pleasure to attend the opening on the Hagley Cricket Oval, the first of the Key Projects to be completed.
We are going somewhere really exciting and I have no doubt that we are on track to realise the dream of being the most liveable city in Australasia. Go to www.futurechristchurch.co.nz for a preview of some of the major central city builds.