Rider Levett Bucknall's April 08 Oceania Construction Cost Commentary confirms there are uncertain times ahead for the Australian and New Zealand construction industry.
Whilst in the United States, the Federal Reserve continues to reduce rates in hopes of invigorating the economy, in Australia the converse has been true, with the Reserve Bank raising interest rates in a bid to control inflation.
In construction markets, the global credit squeeze has affected New Zealand confidence levels to a greater extent than it has in Australia where as Mark Lochran, director of Research at Rider Levett Bucknall states: "Australia-wide, there is an abundance of workload at an all time high, although the latest building Approvals have slipped somewhat."