New Zealand building consents issued by local councils for new homes rose 11 per cent in November, boosted by apartment developments.

New dwelling consents, including apartments, rose to a seasonally adjusted 2267 in November from 1891 in October, according to Statistics New Zealand. Excluding apartments, seasonally adjusted consents fell 0.5 per cent. Last month, New Zealand’s Reserve Bank exempted new home building from lending restrictions on low-equity mortgages introduced in October…