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Jan112018

Auckland 2017 Market Recap

Albert St AKL

2017 – Was quite a year! Last year we all saw some great success and significant change, as we shifted into the new year with a Labour coalition government at the helm.

So how does that reflect on the construction and property sector? 2017 was a strong year with much optimism in infrastructure. We saw new developments in the commercial and residential space, the redevelopment of Auckland airport and the start of the Central Rail Loop taking shape adding to the already abundance of cranes dominating our skylines. There is also a great sense of optimism in both the regions and especially the Wellington commercial market, helped by the need to invest in buildings from the recent earthquake and the government announcing a $10bn plus spend over the next four years. 

That optimism continued right through to the 2017 election where we did see a slight dip in recruitment just due to the uncertainty of where New Zealand was going to end up on the political spectrum. Post-election we saw the slightest of change with the government increasing its investment in the infrastructure and residential for Auckland, more spend towards the regions and tighter restrictions on foreign investment.  AKL CBD

What does this mean for the recruitment industry in 2018? A lot of the focus will be for roles in infrastructure such as rail, roading and water with strong investment in these spaces for the next few years. Residential (home building and land development) will continue with a very optimistic target set by the government and a huge focus on bringing in new talent to cope with the workload. Commercial project work will continue with projects such as the Convention Centre and Commercial Bay already well into construction along with large-scale retail shopping centres in Sylvia Park and Newmarket starting.

In terms of roles, it will be a continuous demand for qualified Carpenters, Engineers, Foreman, Site Managers, Project Managers & Quantity Surveyors. With only so much available in NZ, it will be again the overseas market where business will look to target, especially towards returning kiwis and qualified candidates from Australia, United Kingdom and South Africa.

We are in for another bumper year for 2018. The shape may look different under a new government but there is still a lot of confidence in the market.

What changes and developments did you notice in 2017? Let us know in the comments box below

If you are interested in discussing any architecture, construction, property or infrastructure roles available or any hiring requirements, please contact your nearest Cobalt office.

You may also be interested in:

2017 Industry Wrap Up - Christchurch

Auckland: The Best Man-Made Glories in the City

 

Image sources:

http://truecommercial.nzherald.co.nz/media/95173/true-commercial-albert-st-crl-development-auckland-cbd-photo-colin-taylor.jpg?width=500&height=494.58333333333337

http://gregpresland.com/wordpress/page/5/

 

 

This entry was posted on Thursday, January 11th 2018 and is filed under Employment. You can subscribe to our RSS 2.0 news feed here.

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