Consumer Confidence Rises in January as NZ Build Market Stabilises
Consumer confidence across the country has risen in January, ending a three-month decline, thanks to the improved economic outlook, better house prices and increasing spending on household items.
The ANZ Roy Morgan consumer confidence index rose to 126.9 in January compared to 121.8 of December. Around 1000 Kiwis responded to the survey consumer confidence doubling compared to December.
Build NZ Housing Market Stabilised due to government policy
The main reason for the positive feedback is due to the stabilizing Build NZ housing market, with new construction taking priority. The government has take charge and are implementing holistic policies to address the housing current housing crisis. In previous years, New Zealand has experienced a continuous increase of property prices with affordability, delays and build costs coming in to question. With the implementation of the Kiwi Build it is hoped that the market will cool down by providing more affordable housing. The government is planning to build at least 100,000 affordable houses in the future and will also implement ways to reduce the impact of foreign buyers.