Home expenditure forecasts for 1986

Press, 3 July 1986, Page 24

Home expenditure forecasts for 1986

Surveys carried out during 1985 and 1986 by New Zealand Trends, Ltd, have led to some interesting predictions as to how New Zealanders will spend their money during 1986. It is forecast that this year New Zealanders will built 16,000 new houses. The average size of each house will be 132 sq m. At .an average price of $553 per sq m, each house will cost an average of $73,000. The total expenditure on new houses will reach SI6BOM. During 1986, we will build 6500 new apartments or flats, at an average size of just under 100 sq m. At $553 per sq m, each unit will cost an average of $55,000.

Additions and alterations to homes (where

building permits are required) are expected to cost New Zealanders S37OM during 1986. Total expenditure on new homes, not including land, will total $2407M. We will spend S7BSM on furniture and furnishings, including floor coverings, for new and existing houses, flats and apartments. Household appliances of all kinds will cost SBSOM. Expenditure on all other home improvements — hardware, bathroom fittings, kitchen and bathroom renovations, paint, wall-coverings, lightings, spas, pools, etc. — will total $225M this year. In total, New Zealanders are expected to spend $4267M on new houses, apartments, flats, additions and other forms

of home improvement during 1986. Home spending is big business in New Zealand and the consumer has a wide range of products to choose from. Interiors ’B6 is designed to bring home-improve-ments products and consumers together in an atmosphere which will be helpful to both the manufacturers and the prospective purchasers. Mr Brendon Luxon, of Spectrum Exhibitions, Ltd, the organiser of Interiors ’B6, says the formula has been a success. "Each year more and more public attend, and our exhibitors are spending more time, money and effort in displaying and demonstrating their products and services in the most imaginative ways,” Mr Luxon says.