Builders in Wellington see surge in inquiries as market conditions shift
Builders in Wellington are experiencing a shift in market conditions as inquiries increased in January 2025. After a tough year marked by declining activity and liquidations, builders are now competing for work, a change from the previous situation where they turned away projects. New home consents fell nearly 10 percent nationwide in 2024, with Wellington seeing a 24 percent drop. Despite this, builders are cautiously optimistic about recovery, with some reporting a surge in inquiries and a more stable environment for securing projects. Industry leaders suggest homeowners take advantage of the current market, where material costs are stabilizing and builders are actively seeking work. This marks a significant change from the previous year, when builders faced intense competition and scarce opportunities.