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Financial News: New Zealand November Building Permits Fall 2.0%

New Zealand November Building Permits Fall 2.0%

01/10/2019 - 17:34:00 (RTTNews)

(RTTNews) - The total number of building permits in New Zealand issued in November fell a seasonally adjusted 2.0 percent on month in November, Statistics New Zealand said on Friday - standing at 3,120.

That follows the downwardly revised 1.4 percent increase in October (originally 1.5 percent).

In the year ended November 2018, the actual number of new dwellings consented was 32,783, up 5.3 percent on year.

The annual value of non-residential building work consented was NZ$7.0 billion, up an annual 6.6 percent.

In November, 3,120 new dwellings were consented, including 2,009 stand-alone houses, 670 townhouses, flats, and units, 215 retirement village units and 226 apartments.

For stand-alone houses only, the seasonally adjusted number rose 1.6 percent after rising 6.2 percent in October.

By region, the numbers of new homes consented in the November 2018 year were: 12,800 in Auckland - up 19 percent; 3,692 in Waikato - up 3.9 percent; 2,727 in Wellington - up 21 percent; 5,470 in rest of North Island - down 8.1 percent; 4,668 in Canterbury - down 8.8 percent; and 3,418 in rest of South Island - down 2.5 percent.

In the year ended November 2018, non-residential building consents totaled $7.0 billion, up 6.6 percent on year.

In the November 2018 year, the non-residential building types with the highest values were: shops, restaurants, and bars - NZ$1.1 billion (up 37 percent, from year ended November 2017); education buildings - NZ$1.1 billion (down 3.9 percent); and offices, administration, and public transport buildings - NZ$923 million (down 28 percent).

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