Jennian Homes doubles sales in June

Jennian Homes doubles sales in June – building industry starts to stabilise
Comment from Dave Wilson, Business Development Manager, Jennian Homes

“Building consent figures are starting to stabilise and we are seeing this reflected in the level of both enquiries and sales at Jennian.

“June has been our best month this calendar year with more than double the sales we’ve seen in the previous months. Activity has picked up particularly in the regions, with Northland, Waikato, Nelson and Canterbury showing noticeable growth, and the metropolitan areas beginning to follow.

“Now is a good time to consider building a home as interest rates are low and land has become cheaper. We’re seeing a noteworthy increase in enquiries from people who have already purchased land at a good price and are now ready to start designing their dream home.

“This year job security has been a big factor holding people back from making significant financial decisions, but this seems to have settled and more people are prepared to commit to longer-term plans. Our franchisees across the country report that they are seeing less of the wait-and-see attitude of the past few months and more people ready to build now.

“The increase in net migration is also driving activity at Jennian from two perspectives. New Zealanders returning from around the world are increasingly enquiring about building a home in preparation for coming back to settle down. In addition, investors are seeing an opportunity to build rental properties to meet the increased demand for housing. This demand comes from both immigrants and potential first-home buyers who are delaying getting onto the property ladder as they save to meet the increased deposit requirements.

“While Jennian Homes is pleased to see the increase in building activity, we should not forget the difficulties that the industry is still currently experiencing. As we start to come out of this downturn, there is much work to be done by both Government and industry to develop solutions to break the destructive and unsustainable boom and bust cycle of the building sector.”

ENDS

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