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Financial News: New Zealand Building Permits Fall For Second Month

New Zealand Building Permits Fall For Second Month

02/08/2017 - 23:19:00 (RTTNews)

(RTTNews) - The total number of building permits issued in New Zealand decreased for the second successive month in December, figures from Statistics New Zealand showed Thursday.

The number of new dwellings consented declined a seasonally adjusted 7.2 percent monthly in December, slower than the 9.6 percent fall in November.

Including alterations, the value of building work consented in December was $1.6 billion.

The trend reached a 12-year high in July 2016, but has decreased 12 percent since then. Canterbury was the main driver of the decreasing trend, the agency said.

The number of new homes permitted fell 7 percent in December, mainly due to a drop in apartment consents.

In the year ended December 2016, 29,970 new dwellings were consented, up 10 percent from 2015.

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