Council says the city is in a good place for economic recovery
With New Zealand having switched from COVID-19 alert level 4 to alert level 3 lockdown, the Palmerston North City Council expects more activity in the construction sector over the following months due to a record value of building consents lodged in March.
The Palmerston North City Council confirmed that it received building consent applications totalling $95 million in March, which is the highest value the council received in one month. Meanwhile, the applications lodged in April totalled approximately $41 million.
Palmerston North City Mayor Grant Smith commented that the value of consents had given them the confidence that the city is “in a good place for economic recovery following the COVID-19 lockdown.”
“[The consents] reflect businesses and individuals, making a considerable investment in our city. These will sit alongside the city's Shovel Ready projects that align with regional development and government-funded key projects such as the regional freight ring road and KiwiRail's central North Island freight hub,” Smith said.
Read more: Home consents hit 45-year high in February
The building consent applications in March followed a record month in February when the council approved consents totalling $46.7 million, thanks to the city’s positive economic trajectory before the pandemic.
“The value of these multi-million-dollar projects seeking consent and ready to get underway reassures us that the city's recovery should be fast and able to support the region's recovery,” Smith said.
“[Aside from] these significant projects, it is encouraging to see three other smaller multi-unit housing consents amongst the applicants. This type of development is well-needed in the city and will hopefully encourage other developers to develop housing models that meet the market's demand.”
