New Zealand home-building consents fell last month as a drop in approvals for apartments offset gains for other types of dwellings. Auckland and Canterbury continued to account for more than half of all consents.
The number of consents fell 0.4 percent, seasonally adjusted, in January, after gaining 9.4 percent in December, according to Statistics New Zealand. Total consents were up 17.4 percent from the same month last year.
Home-building consents in Auckland jumped 60 percent to 372 in January from a year earlier, reflecting pent-up demand in a city where realty firms are struggling to attract enough listings. In Canterbury, consents fell by one to 378 from a year earlier.
The two regions made up 57 percent of the 1312 national total.
Excluding consents for apartments, which tend to be volatile from month to month, consents rose 9.6 percent, seasonally adjusted, in January. The value of dwelling consents was $517 million, up 34 percent from the same month last year.
The value of non-residential building consents fell 1.4 percent to $223 million in January from a year earlier.
Earthquake-related consents in Canterbury were valued at $60 million in January, of which $28 million was for residential buildings.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- LinkedIn too slow, too vague after hackers put logons up for sale – and you could still be at risk
- Briefcase: Litigation funders and the 23-year-old class action lawyer, the lawyer who embraces social media
- BUDGET 2016: Landbankers choking Auckland's housing supply
- Political week: Political groundwork rather than 'whizz bangs' the hallmark of Budget 2016
- The Budget in 60 seconds: 10 key points
Most listened to
- Budgets are not branches of the entertainment industry says NBR's Rob Hosking
- “In those big markets we’re more of a disrupter” – Don Braid on Mainfreight’s global growth path
- Grant Thornton partner Greg Thompson says the walls of secrecy in the tax system are starting to erode
- Why has the construction industry got it good? Metro Performance Glass's CEO Nigel Rigby explains
- Landbankers choking Auckland's housing supply. JLL capital markets director Justin Kean discusses what can be done