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Building consents in New Zealand rose to near decade high during the month of September, snapping two months of continuous decline as a spurt in Wellington apartment permits offset a decline in new house permits.
New Zealand’s seasonally adjusted dwelling consents increased 0.2 percent to 2,618 in September, turning around a 1.5 percent decline in August. Permits for new houses fell 2.5 percent to 1,813, having gained 4.1 percent a month earlier, data released by, Statistics New Zealand showed Monday.
On an annual basis, residential consents rose 14 percent to 29,935, including a 15 percent gain in new housing permits to 21,299, data showed. However, excluding the volatile apartment sector, consents for new houses fell 2.5 percent.
Further, the value of non-residential permits fell 18 percent to USD509 million in September from the same month a year earlier, smaller than the 42 percent decline in floor area to 202,000 square metres. On an annual basis, the value of non-residential work permits rose 6.8 percent to USD6.05 billion, while the floor area shrank 16 percent to 2.83 million square metres.
"All nine North Island regions consented more new dwellings in the latest year ended September than in the previous one," said Neil Kelly, Senior Manager, Business Indicators, Statistics New Zealand.
