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Financial News: New Zealand Building Consents Slide 6.9% In March

New Zealand Building Consents Slide 6.9% In March

05/01/2019 - 19:45:00 (RTTNews)

(RTTNews) - The total number of building permits issued in New Zealand fell a seasonally adjusted 6.9 percent on month in March, Statistics New Zealand said on Thursday - standing at 3,180.

That follows the downwardly revised 1.7 percent increase in February (originally 1.9 percent).

In the year ended March 2019, the actual number of new dwellings consented was 34,516, up 10 percent on year.

The annual value of non-residential building work consented was NZ$7.1 billion, up an annual 7.6 percent.

The new dwellings consented in March included 1,949 stand-alone houses; 602 townhouses, flats, and units; 455 apartments; and 174 retirement village units.

For stand-alone houses only, the seasonally adjusted number rose 0.8 percent.

By region, the numbers of new dwellings consented in the year ended March 2019 were: 13,874 in Auckland - up 24 percent; 3,915 in Waikato - up 13 percent; 2,708 in Wellington - up 5.9 percent; 5,491 in rest of North Island - down 5.2 percent; 4,915 in Canterbury - up 0.2 percent; and 3,605 in rest of South Island - up 4.1 percent.

In the March 2019 year, the non-residential building types with the highest values?were: shops, restaurants, and bars?-?NZ$1.1 billion?(up 34?percent); education buildings?-?NZ$1.1 billion?(up 4.8?percent); and storage buildings?-?NZ$968 million?(up 20 percent).

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