Building consents fall 0.4% after drop in apartments

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.

(BusinessDesk)

This article is tagged with the following keywords. Find out more about My Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7462 0.0048 0.65%
AUD 0.9416 0.0003 0.03%
EUR 0.6633 -0.0030 -0.45%
GBP 0.4972 0.0029 0.59%
HKD 5.7861 0.0386 0.67%
JPY 88.2020 1.2060 1.39%

Commods

Commodity Price Change Time
Gold Index 1292.6 -7.090 2015-01-23T00:
Oil Brent 49.9 0.320 2015-01-23T00:
Oil Nymex 45.6 -0.820 2015-01-23T00:
Silver Index 18.3 -0.060 2015-01-23T00:

Indices

Symbol Open High Last %
NZX 50 5675.2 5703.0 5675.2 0.41%
NASDAQ 4748.2 4771.2 4750.4 0.16%
DAX 10593.0 10744.6 10649.6 0.62%
DJI 17812.5 17812.5 17814.0 -0.79%
FTSE 6832.8 6841.3 6832.8 -0.28%
HKSE 24907.2 24916.5 24850.5 0.24%
NI225 17285.7 17471.9 17511.8 -0.25%