$800m of building consents in October - mostly housing
The construction industry has been given a boost in October with the highest monthly number of building consents issued in nearly a year and a half.
The seasonally adjusted number of new housing units authorised in October (excluding apartments rose 11% from September, according to Statistics New Zealand data released today.
This follows a 3.5% increase in September and brings the number of consents to the highest level since June last year.
Building consents were issued for 1,321 new housing units (excluding apartments) in October and consents were issued for 103 new apartment units.
Nearly three quarters (75) of the new apartment units were assisted-living apartments associated with retirement villages.
The overall value of building consents during the month was $810 million.
The value of residential building consents in October was $481 million, 9.5% higher than in October 2008.
Residential building consents made up 59% of the total value, compared to a monthly average of 52% over the last 12 months.
The trend for the value of residential building consents had increased since April (up 18%), after declining from July 2007.
Of the $329 million of non-residential building consents in October the largest contribution came from the social, cultural and religious buildings category (26%), which was boosted by a number of sports facilities.