Residential building consents fall 1.7% in Feb, led by apartments

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

New Zealand building consents for residential housing fell 1.7 percent in February, the second straight monthly decline, as the number of apartments extended their decline from record levels at the end of 2013.

New dwelling consents, including apartments, fell to a seasonally adjusted 1,915 in February from 1,949 in January, according to Statistics New Zealand. Excluding apartments and units, which are typically volatile from month to month, seasonally adjusted consents rose 3 percent to 1,805.

Annual residential issuance rose 14.7 percent from a year earlier, or up 21.6 percent excluding apartments. There were an unadjusted 21,842 consents issued in February. Of that, 19,414 were for new houses and 2,428 for apartments.

New dwelling consents rose to 464 in Auckland in February from 433 the previous month, while in Canterbury they climbed to 530 from 520.

Today's figures show the value of non-residential building consents rose 13 percent to $4.4 billion in the year ended in February while the value for residential buildings gained 27 percent to $8.17 billion. The value of all building consents rose 22 percent to $12.5 billion.

(BusinessDesk)


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

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7463 -0.0034 -0.45%
AUD 0.9416 -0.0034 -0.36%
EUR 0.6678 -0.0026 -0.39%
GBP 0.4921 -0.0021 -0.42%
HKD 5.7855 -0.0264 -0.45%
JPY 89.5460 -0.3820 -0.42%

Commods

Commodity Price Change Time
Gold Index 1193.2 5.120 2015-05-05T00:
Oil Brent 68.9 1.020 2015-05-05T00:
Oil Nymex 60.4 0.220 2015-05-05T00:
Silver Index 16.6 0.140 2015-05-05T00:

Indices

Symbol Open High Last %
NZX 50 5787.8 5795.8 5787.8 -0.20%
NASDAQ 5000.2 5008.3 5016.9 -1.55%
DAX 11576.1 11751.2 11619.9 -2.51%
DJI 18062.5 18086.0 18070.4 -0.79%
FTSE 6985.9 7053.2 6985.9 -0.84%
HKSE 28295.7 28316.6 28123.8 -1.31%
NI225 19510.8 19549.4 19520.0 0.06%