Roaring industrial market heats up

The value of storage building consents was up 25.8% in the year to March compared to the March 2020 year.

Consents for work totalling $967.3 million included 427 new storage buildings, with a combined floor area of 748,683m².

In addition a number of existing buildings were consented for alterations costing a total of more than $103 million.

A raft of factories have also been consented for construction. Work totalling $971 million across 438 new industrial buildings is up 23.5% compared to March last year and is at a record high.