A HUGE DROP

Evening Post, Volume CXV, Issue 69, 23 March 1933, Page 12

A HUGE DROP

DECLINE IN BUILDING

STARTLING FIGURES

Hpw the building industry has been hit by the depression is graphically set out in the annual report or the New Zealand Federated Builders' and Contractors' Industrial Association o£ Employers, which held its annual meeting today under the presidency of Mr. J. W: Graham (Ckristehurch).

Prior to moving the adoption of the annual report, Mr. Graham said that there was no industry in New Zealand of any magnitude that could show such a drop. The-figures showed that even to the end of March last year there had been a drop of 75 per cent, in five years. '"Unfortunately, when figures are next available the drop will be shown to be even yet more alarming." The report, in dealing with building figures, remarks: —"The executive is only too well aware of the difficulties experienced by those engaged in the building industry during the past year, and it will avail little to dwell on the troubles that are past; suffice it to say that of alt the industrial activities of the Dominion there has been none harder hit by the effects ot the economic conditions than the building industry. No-surer index can be taken than the annual value of building permits since 1921-22, which is as follows: — . , Total, all buildings. Year. £ 1921-22 .-5.283 0.12 1922-23 7.101.651 .1023-24 9,146,47!) 1924-25 9,304,160 1925-26 ■; 10,169,530 1926-27 11.019,359 ■1927-28 :.. 9:665,210 . 1925-29 9,054,421 1929-30 ...:..: 9,959,877 1930-31 5,473,395 1931-32 ~ 2,728,480 "The foregoing figures disclose a serious drop in the annual value of building permits over tjhe past two years and that for the year ended March 31, 1932 the figures dropped to an astonishing deTee. Although the figures for the year ending March 31, 1933, will not be available for some time, unfortunately there is every indication that a further, drop will be shown compared with the previous year "In view of the fact that the bnildin" industry is a 'key* industry,'and that upon its activity so many people are largely dependent, it is sincerely hoped that building activity has reached its lowest possible ebb, and that a marked improvement will be apparent in the near future"