Podcasts Other The Mike Hosking Breakfast Rick Herd: Naylor Love Chief Executive on the decrease in building activity

Rick Herd: Naylor Love Chief Executive on the decrease in building activity

Published: Dec. 5, 2023, 8:36 p.m.

New data shows building activity is down 2.3% on the last quarter.\xa0

Naylor Love Chief Executive Rick Herd blames the drop on a decrease in commercial property activity due to the high cost of building.\xa0

He told Mike Hosking that a lot of the private development work that was happening previously is on hold, as developers wait for interest rates to drop.\xa0

But the total building value is $9.3 billion, up slightly on the same period last year.\xa0

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