NZ Urban Development news from the media | 21 February 2023 | Red-zoned Christchurch land could soon have houses again


Hi *|FNAME|*, Please find below Urban Development News from the media from the week of 21 February 2023.

Provided by Rockhopper Development Management & Advisory, a member of:                             

Red-zoned Christchurch land could soon have houses again

A North Canterbury trust hopes that by mid-year leases will be signed for the first homes to go back into land red-zoned after the February 2011 earthquakes.

Te Kōhaka o Tūhaitara, which oversees the Tūhaitara Coastal Park in North Canterbury, has been gifted neighbouring red-zoned land at Kairaki by the Crown.

Te Kōhaka o Tūhaitara Trust general manager Greg Byrne said, after the land was red-zoned, Waimakariri District Council undertook work to fix the infrastructure heading into the Kairaki campground, and this meant that services are also available to the areas that were red-zoned.

Fletcher Building's shareprice tumbles as half-year profit forecast drops significantly

Fletcher Building has warned of a significant drop in its expected half-year profit, just two days before it is due to report formally.

The company's shareprice tumbled nearly 5 percent in early trading, as it said it expected a half-year net profit of about $92 million compared with the previous year's $171m, and well short of analyst expectations of about $126m.

It also warned that its full-year result would be hit by significant costs incurred by the recent upper North Island floods, with its full-year pre-tax earnings now forecast between $800m-$855m, compared with a December forecast of $855m.

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