Nationally the construction industry is feeling the impact of recent interest rate rises, but South Canterbury builders are not sharing these concerns.
Sunday, March 20th 2005, 5:15AM
by The Landlord
Registered Master Builders CEO Chris Preston raised his concerns in light of the Reserve Banks decision to increase its official cash rate by a quarter per cent to 6.75 per cent.
"Last year the Reserve Bank raised interest rates six times and this latest increase is putting even further pressure on the building sector.
There seems to be little justification for the most recent rise or awareness from key decision makers of the impact continuous rates rises are having on the industry."
Garry Wilson of Wilson Building Timaru Ltd said he doubted the increases would have any affect on South Canterbury's building boom.
"Everyone here is very positive. Pretty much everyone here is booked up for the year and some into the next."
