Story: Business cycles

Site of apartment development

Site of apartment development

In November 2008 building was scheduled to begin on a $200-million apartment complex on this Wellington site. Eight months later construction had not begun, although the advertising was still there. The project stalled in part because the international banking crisis had stopped an expansion phase and led to a contraction. At least three other apartment projects in the Wellington area were also put on hold.

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Te Ara - The Encyclopedia of New Zealand
Photograph by Jock Phillips

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How to cite this page:

Viv B. Hall, 'Business cycles - What is a business cycle?', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/photograph/24158/site-of-apartment-development (accessed 17 July 2019)

Story by Viv B. Hall, published 11 Mar 2010