News

Canterbury reflections 2 years on

By Tony McPherson

Evidence of a momentum of activity in the Christchurch re-build is now appearing. A disappointing aspect of recent times is the amount of negative media around the recovery. Experts suggest this is a normal part of the cycle after traumatic events, but let’s reflect and focus on the positive.

Some bold decisions have been made at critical times. The red zone decision allowed people to move on with a broader positive effect across the region. The methodology on compensation did create some winners and some losers but what other process could have been achieved in a timely manner! Some people appear to have short memories. Think back on the amazing support from the rest of New Zealand and the government.

The high level of insurance coverage is unusual internationally for this type of event; over 80% compared with eg Japan which has just over 20% and Chile, approximately 10%. This high level of insurance compared with the on-going after shocks has slowed the re-build process. The billions of dollars on this insurance pay out with the majority to be spent again in Canterbury will sustain a level of civil engineering between 10 to 20 times greater than any project in New Zealand’s history. This will carry our local economy through the next few years with the expectation that the world will have regained traction as the          re-build tapers off.

 The reality of the whole recovery is massive, the Geotech drilling and studies to ensure the understanding and requirements for the re-build and the handling of approximately 1 million insurance claims, if you separate each individual EQC claim.

 The CCR Plan is bold, in 10 years time we will have a world class city.

 Let’s focus on the positive, what other country in the world could have come through this event and supported its people better? The Christchurch economy has already surpassed pre-earthquake levels, population has been retained against production. Each week services and entertainment gradually returns, we are fast becoming one of the most exciting places to be.

Up to Date

Latest News

  • Should I Offer Pet-Friendly Rental Accommodation?

    According to a 2016 New Zealand Companion Animal Council Inc report, there are over 4.6m companion animals in New Zealand with 64% of New Zealand households home to at least one companion animal — 44% share their homes with cats and 28% with dogs. Considering this and accounting for the … Read more

    Read Full Post

  • Is it Time to Regulate the Property Management Industry?

    You may have heard the recent news about the government’s decision to undertake a review of the Residential Tenancies Act 1986. Housing Minister Phil Twyford has indicated that the ultimate goal of the review is to improve the life of renters while also protecting landlords’ interests. A significant first step … Read more

    Read Full Post