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C.F. 326
CONFIDENTIAL # 3
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3.
In terms of the usable floor area of
projects, building consents increased by 12% in the
first quarter over the same quarter last year. The
corresponding increase for 1989 as a whole was 3%.
While consents in respect of commercial and industrial
property increased, those in respect of residential
property decreased.
The results of the two Government
land auctions in the first quarter were generally
satisfactory, although developers appeared to have
remained cautious about investment in industrial
sites.
CONFIDENTIAL #