BUILDING ACTIVITY

Otago Daily Times, Issue 23515, 1 June 1938, Page 6

BUILDING ACTIVITY

PEAK REACHED LAST YEAR REDUCED PERMITS FOR MAY Undoubtedly one of the most reliable guides to the spending activities of a community is contained in the number and value of building permits issued by the City Council, The May figures for Dtmedin show that while there is a fair amount of work ahead of builders and members of the allied trades, last year appeared to be the peak of spending in this direction in the years immediately following the depression The comparison of May figures over the past seven years makes it clear that there was a great deal of leeway to be made up as soon as the depression lifted. An increase from £5485 in May, 1933, to £58,741 in May of last year speaks for itself, but the meaning of the decrease of nearly £20,000 in the figure for May of this year might be interpreted in more than one way It does not suggest that building is coming to a standstill again There is nothing in the figures to support any such suggestion; but it does indicate that the rush which was the inevitable consequence of increased prosperity is easing for the reason that most of the urgent work has been done. An Otago Daily Times reporter was assured yesterday that no fear of a slump is to be read into the lower figures, but it is more likely that work has settled down to a normal level again.

The figures for the month just ended and comparative totals for previous years are n s follows: — Number of Total

permits value May, 1938 .. 91 £39,846 April 1938 .. 77 35,447 May, 1937 .. 78 58,741 May, 1936 .. 80 57,530 May, 1935 .. 75 28,166 May, 1934 .. 35 13,407 May, 1933 .. 35 5,485 May, 1932 .. 44 7,892