Consents for new dwellings, excluding apartments, fell a seasonally adjusted 9.5 percent in May after rising 13.4 percent in April, Statistics New Zealand (SNZ) says.Figures published today show 1360 dwellings were authorised last month, up 9.9 percent fr
Consents for new dwellings, excluding apartments, fell a seasonally adjusted 9.5 percent in May after rising 13.4 percent in April, Statistics New Zealand (SNZ) says.
Figures published today show 1360 dwellings were authorised last month, up 9.9 percent from a year earlier. Last month's total included 27 apartment units.
When those apartments are included in the seasonally adjusted tally, new dwelling consents were down 9.6 percent in May after rising 8.4 percent in April.
The value of residential building consents in May was $481m, 18 percent higher than a year earlier, SNZ said.
Non-residential building consents last month were down 40 percent in value, to $289m, compared to May 2009 which had the second highest monthly value of non-residential building consents on record.
For all buildings, the value of consents last month was $770m, a 13 percent decrease from May 2009.
In the year to May, consents issued for all buildings were worth $9.55 billion, down $386m or 3.9 percent from a year earlier. The value of residential consents rose $416m or 8 percent for the year to $5.61b, while for non-residential consents the value fell $802m or 17 percent to $3.94b.
