More details from Fletcher Building, on the scale of the current building downturn

The construction giant's trying to raise 700-million dollars to improve its balance sheet.

JMI Wealth Director Andrew Kelleher says the company is facing reduced earnings, alongside ongoing uncertainty about bank debt and its Australian pipe business.

He says it used to sell about 20 homes a week -- it's now only selling about 14.

Kelleher says volumes in the materials and distribution business in the past two months have dropped 10 to 15-percent, and there is more pressure on margins.