NZ Residential Building Consents Bounce Back

Friday, November 28th, 2014
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New Zealand Residential building consents have risen at their fastest monthly pace in more than two years, after three months of dwindling issuance in the lead-up to September’s general election.

The number of new permits issued, excluding the volatile apartments series, rose 13 per cent to 1,792 in October, the fastest pace since March 2012, according to Statistics New Zealand.

Including consents for apartments and retirement village units, permits rose 8.8 per cent to 1,990, the fastest pace since November 2013.

On an unadjusted basis, total residential building consents rose 14 per cent to 2,152 in October from the same month a year earlier, while permits excluding apartments were up 12 per cent to 1,973.

Friday’s figures show Auckland’s new issuance in October rose to 591 permits, including 67 apartments, from 476 permits in the same month a year earlier, while Canterbury reported 686 new permits from 572 in October 2013. Wellington issued 108 new permits from 169 a year earlier.

New dwelling issuance was up 22 per cent to 24,363 in the year ended October 30, of which housing permits were up 12 per cent to 21,054.

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