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.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- MARKET CLOSE: NZ shares drop, Tower and Air NZ fall, Kathmandu gains
- Government lobbies investors for 26 new hotels
- NZ dollar drops as June rate-cut bets fade, RBA to stick with inflation target
- Weldon, Clear's former owners had 'battle of wills' after acquisition, witness says
- Tower shares sink to two-month low
Most listened to
- Niall Ferguson rips into the TPP - and Trade Minister Todd McClay responds
- Why China is key to Vista's growth: CEO Murray Holdaway
- In his Editor’s Insight, Nevil Gibson examines the role of controversial biotech crops in an industry mega-takeover
- NBR's Rob Hosking "the election campaign has started"
- Publisher Philip Macalister discusses the increasing importance of mortgage brokers to banks