New Zealand residential building consents fell in March, reversing gains in February, led by declines in Otago, Tasman and Bay of Plenty.

Seasonally adjusted consents across all dwellings fell 9.8 percent to 2,236 in March from February, when they jumped 10.3 percent, Statistics New Zealand said. For houses alone, the decline was 4.1 percent to 1,643. On an unadjusted basis, new dwelling consents fell to 2,315 in March from 2,379 in February….