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NZ New Dwelling Consent Numbers Trumble In March

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Contributor:
Fuseworks Media
Fuseworks Media

Wellington, April 30 NZPA - Building consent numbers tumbled by
nearly a third last month compared to March 2007, figures published
today by Statistics New Zealand (SNZ) show.

In March this year, consents were authorised for 1567 new units,
a decrease of 702 units, or 31 percent, compared to a year earlier.

Apartment consents fell sharply from 190 in March 2007 to 50 last
month, making their contribution to the total last month just 3
percent, compared with a monthly average of 9 percent for the
previous 12 months.

Excluding apartments, 562 fewer new dwellings were authorised
last month, a fall of 27 percent compared with March 2007.

Seasonally adjusted new dwelling authorisations fell 9.1 percent
last month compared with February.

The trend series for authorised new dwellings
has declined since last June.

The two fewer working days due to Easter last month may have
contributed to the decrease this March, but it was not possible to
quantify the impact, SNZ said.

For the year to the end of March the number of authorised new
dwellings fell 4.9 percent, compared to the previous March year.

The value of authorised residential building consents was $541
million last month, down $169 million or 24 percent compared to
March 2007. The trend series showed decreases for the past nine
months.

Non-residential building consents issued last month were valued
at $354m, a fall of $59m or 14 percent from a year earlier.

For the year to the end of March the value of non-residential
building consents was up 7.4 percent from the previous year to $4.26
billion.

The trend for the value of non-residential building consents
showed a recent decline, although that apparent change in direction
could not be confirmed yet, SNZ said.

All consents issued last month were valued at $896m, down $228m
or 20 percent from March 2007. For the year the total value was
$11.88b, up $494m or 4.3 percent.

In Auckland, the 338 dwelling consents last month was at least
110 consents lower than for any month during the previous year, and
almost 200 lower than February.

The value of new dwelling consents in Auckland last month was
$113m, also lower than at any other time in the previous year,
although only $9m down on the values for December and January.

The Wellington region saw the value of its new dwelling consents
halve to $28m in March from February.

The 245 dwelling consents in Canterbury last month were the
second lowest in the 13-month period, and the value of $67m the
third lowest.

In Waikato the 206 dwelling consents last month were the second
lowest in the 13 months, while the value of $52m was the lowest.

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