Reece Group Announces HY26 Results Amid Challenging Market Conditions Australia: Reece Group has reported its results for the first half of the 2026 financial year, reflecting housing market conditions across its operating regions. Group sales revenue increased by 6 per cent to AUD 4,648 million (USD 3,068 million), compared with AUD 4,402 million (USD 2,905 million) in the corresponding period of the previous year, supported by network expansion. On a like-for-like basis, sa

Daikin New Zealand To Open Christchurch Warehouse and Distribution Centre New Zealand: Daikin New Zealand is nearing completion of its second purpose-built facility in the country, with the new Daikin Park Christchurch warehouse and distribution centre intended to meet customer demand across the South Island. The facility will consolidate two existing Christchurch locations on a 7,870 square metre site in Hornby and will become a dedicated Heating, Ventilation and Air Conditi

Xiaomi Sets Sights on Australia’s US$3.7bn Air-Conditioning Market AUSTRALIA: Xiaomi is preparing a major push into Australia’s home appliance sector, targeting the fast-growing air-conditioning market valued at about US$3.7 billion in 2025. Backed by multi-million-dollar investments in its own manufacturing facilities, the company is shifting from an outsourced production model toward greater in-house control, with plans to internalise around 20% of air-conditioner manufactu

Australia Extends Apprenticeship Support for Refrigeration and Air Conditioning Trades Australia: The Australian government has extended financial support for employers and apprentices in priority and clean energy occupations, including refrigeration and air conditioning, under the Key Apprenticeship Program. The updated measures will continue incentive payments through December 2026, with the programme supporting New Energy Apprenticeships and targeting workforce development

RICS Survey Signals Improved Construction Sentiment in Australia Australia: The Royal Institution of Chartered Surveyors (RICS) has reported improving conditions in Australia’s construction industry in 2025, led by private non-residential work and infrastructure and public projects. The latest Global Construction Monitor showed the Construction Sentiment Index rising to plus 21 from plus 15, returning to levels last seen in 2023. Infrastructure performance remained supported

South Australia and Federal Government Commit Funding for New Housing Programme Australia: The South Australian and federal governments have announced a joint housing programme valued at AUD 800 million (USD 530 million, EUR 490 million), which aims to deliver around 17,000 new homes across the state. Of this total, close to 7,000 homes are intended for first-home buyers. The initiative forms part of a wider federal commitment to increase housing supply nationally and include

Australia sees rise in dwelling construction activity Australia: Data released by the Australian Bureau of Statistics shows that construction activity for new dwellings increased over the past year, though it remains below levels required to meet government housing targets. Dwelling commencements in the twelve months to September 2025 rose by 11.2 percent. The data indicates that housing demand continues to outpace supply, with delivery constraints identified as a key factor

Pre sale Finance Guarantee program Australia: The New South Wales Labor government has activated its US$ 685 million Pre sale Finance Guarantee program by supporting a 225 apartment mixed-use development in Rozelle, in Sydney's inner west. The US$ 195 million Rozelle Village redevelopment, located on the former Balmain Leagues Club site on Victoria Road, is the first project to receive backing under the scheme. The programme allows the state government to commit to presales f

Housing Project Australia: Construction has commenced on an US$ 85 million build to rent housing development in Eastwood, located just outside the Adelaide central business district. The Wirra Mikangka project will deliver 151 apartments across two buildings of nine and five storeys, with ground floor retail and hospitality space and shared gardens overlooking the city's southeastern parklands. Of the total apartments, 121 are allocated for people on low and moderate incomes,

Australia Construction Sector Australia: Global construction market intelligence firm Hubexo has released its 2026 Construction Outlook Report, outlining a period of recalibration for the Australian construction industry following several years of volatility, cost pressures, and capacity constraints. According to the report, the sector is entering 2026 in a reset phase, characterised by more disciplined project sequencing and a stronger focus on capacity management rather tha

Copeland to Acquire Bueno Analytics to Strengthen AI-Driven Building Solutions AUSTRALIA: Copeland has signed an agreement to acquire Australia-based Bueno Analytics, a provider of SaaS platforms using embedded AI and machine learning for building analytics, energy management and cold-chain operations. The acquisition will enhance Copeland’s digital and aftermarket portfolio by adding advanced capabilities such as predictive maintenance, energy optimization, leak detection an

Construction cost pressures delay projects in Western Australia Australia: Perth developments are facing delays as construction cost pressures continue to rise, according to Western Australia’s peak property industry body. Expectations that cost increases might stabilise have eased following new data indicating that pressures may intensify, contributing to a growing number of major projects being placed on hold. Industry representatives note that elevated input prices and lab

New Zealand residential construction rises in third quarter New Zealand: New Zealand’s residential building activity increased in the third quarter, indicating early signs of economic recovery following monetary stimulus by the Reserve Bank of New Zealand. Statistics New Zealand reported that the volume of residential building work rose 2.8 percent from the previous quarter, reversing a 3.3 percent decline. Activity has begun to edge higher from the four-year low recorded at

Australian building permits decline in October amid sector uncertainty Australia: The Australian Bureau of Statistics reported a fall in building permits in October, with year-on-year growth shifting from 15.3 percent to minus 1.8 percent. The data points to a potential slowdown in the construction sector, raising concerns for developers and builders. Analysts note that the decline may reflect rising costs, supply chain constraints or shifts in consumer demand, and they are e

National Construction Code AUSTRALIA: Australia building ministers have agreed to pause major changes to the National Construction Code (NCC) until mid-2029, with only essential quality and safety measures taking effect. The measures include improved water management in commercial and apartment buildings, enhanced carpark fire safety standards, commercial energy efficiency reforms, and condensation mitigation. Planned requirements for home EV chargers and new residential ener

New South Wales Government AUSTRALIA: The New South Wales (NSW) Government has extended the closing date for the US$1 million Heat Pump Feasibility Grant to November 24, allowing businesses additional time to apply. The grant provides up to US$30,000 to cover 75% of project costs for feasibility studies that assess the potential for switching to heat pump technology. These studies include site screening, heat pump design options based on energy data, and detailed analysis to

New Zealand Residential Construction Costs Show Sustained Slowdown in September Quarter New Zealand: New Zealand’s residential construction costs rose only marginally in the September quarter, signalling a continued slowdown as the housing market stabilises and lending conditions ease ahead of 2026. The Cordell Construction Cost Index (CCCI) showed the cost to build a standard single-storey brick and tile home increased 0.4%, down from 0.6% in Q2 and well below the long-term

New Zealand Sees 1.3% Rise in Annual Home Consents Driven by Multi-Unit Developments New Zealand: New Zealand recorded 34,078 new homes consented in the year ended August 2025, marking a 1.3 per cent increase compared with the previous year. The rise was supported by growth in both stand-alone homes, which increased by 1 per cent to 15,775 units, and multi-unit dwellings, up 1.6 per cent to 18,323 units. The increase was largely driven by apartment and townhouse developments