Growth of the number of building licenses in New Zealand continued in July. Economists notice that the rising trend, which started in March 2011, continues, but has started to show the signs of decline.
Without taking into consideration seasonal trend, the number of licenses for building residential housing has amounted to 1893, among which 218 apartments and 1675 non-residential objects. Taking into consideration seasonal trend, the total figure will drop by 0.8%, whereas the number of apartments will increase to 3.1%.
Preliminary cost of objects provided with licenses has amounted to 1123 mln. dollars. Annual figure has risen by 20% (to 11238 mln. dollars) in comparison to last year. In this reference the price rise of residential housing has amounted to 26%, having reached 7108 mln. dollars. The cost of approved non-residential housing has increased by 11%, having reached 4130 mln. dollars.
NZDUSD is rising within correction to mid-term down trend. Experts of Masterforex-V Trading System speak about the end of a “bullish” wave А/В, which has reached Н4 point. Further growth with the break of 0.7831 maximal point will start “bullish” wave А/В from at least Н8 point. Resistance is provided by pivot MF 0.7838 and Fibonacci points 0.7857, 0.7873, 0.7889, and 0.7900. “Bearish” wave а(С)/С of Daily3 level will start when minimal point 0.7720 is broken. Key support will be provided by minimal point 0.7682.
