Housing momentum builds

By Phil Boeyen, ShareChat Business News Editor

Tuesday 27th November 2001

The number of residential building consents is continuing to climb and in Auckland has hit the highest level since May last year.

Statistics New Zealand says 1,931 building consents were issued last month for new dwelling units, up from 1,678 the previous month, and the value of the consents was $300 million compared to $286 million in September.

"Following a decline since late 1999, the trend in the number of new dwellings has now been increasing since January 2001, although the number of new dwelling units per month is still significantly lower than in 1999," Statistics NZ says.

"The actual number of new dwellings has mostly ranged between 1,600 and 1,900 units since March 2001, whereas in 1999 the number was regularly over 2,000."

The latest figures show an increase in new dwelling units was recorded in 10 of the 16 regions last month compared with the same time last year and in Auckland 847 new dwelling units were authorised, the highest number since May 2000.

The total value of non-residential building consents is also on the rise, with total consents worth $291 million issued in October.

"This is the second highest value ever recorded, the highest value being in April 1998 at $312.7 million," Statistics NZ says.

The total value of all building consents issued last month was $658.7 million.

Comments from our readers

No comments yet