NZ Construction highest in 12 years

By | April 7, 2016

Residential building is booming nationwide with new dwelling consents hitting their highest point in more than a decade.

Statistics NZ figures showed 2379 new dwellings were consented last month, the highest for a February since 2004 and up 35 per cent on the same month a year ago.

Consents were issued for 1712 houses, 341 townhouses, flats, and units, 204 apartments and 122 retirement village units. The busiest areas were Auckland where consents rose 49 per cent, the Bay of Plenty up 98 per cent and Otago, up 136 per cent. In Canterbury, 525 new dwellings were consented, up only 1.5 per cent on February last year.

Nick Smith, Building and Housing Minister, said the latest data confirmed the Government’s housing supply initiatives were working.

“The 27,745 new homes consented in the year to February is the highest in a decade. The interesting feature of these latest figures is that the housing boom that started in Christchurch followed by Auckland is now spreading to other parts of the country like the Waikato, Bay of Plenty, Nelson/Tasman and Queenstown,” Smith said.

“I am particularly encouraged by the February figures for Auckland of 787 for the month, up 50 per cent from 528 in February 2015, and more than three times the low of 220 in 2009. We are maintaining growth of 25 per cent per annum growth in the house build rate since the Housing Accord was signed with Auckland Council, and sustaining the longest and strongest period of growth in the city’s history.

Statistics NZ said Auckland data was particularly strong.

Highest in 12 years

New Zealand construction highest in 12 years

“The trend for the number of new dwellings consented in Auckland recently reached its highest level since late 2004.”

Nationally, the value of consents for non-residential buildings in February was $372 million, down $99 million or 21 per cent from February 2015, mainly due to a decrease in the value of consents for office, administration, and public transport buildings.

In the year to February 2011, 12,460 houses were consented, 11,494 by 2012, 14,257 by 2013, 17,165 by 2014, 18,004 by 2015 and 19,546 in the year to February 2016.

Source: www.stuff.co.nz