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Financial News: New Zealand Building Consents Climb 4.9% In December

New Zealand Building Consents Climb 4.9% In December

02/03/2021 - 17:45:00 (RTTNews)

(RTTNews) - The total number of building permits issued in New Zealand in December advanced a seasonally adjusted 4.9 percent on month in December, Statistics New Zealand said on Thursday - standing at 3,751.

That's up from 2.1 percent in November.

In the year ended December 2020, the actual number of new dwellings consented was 39,420, up 4.8 percent from the December 2019 year.

The annual value of non-residential building work consented was NZ$7.0 billion, down 5.5 percent from the December 2019 year.

In December 2020, 3,751 new dwellings were consented, comprising: 1,917 stand-alone houses; 1,241 townhouses, flats, and units; 443 apartments; and 150 retirement village units.

By region, the numbers of new dwellings consented in the year ended December 2020 (compared with the December 2019 year) were: 16,656 in Auckland - up 9.9 percent; 4,036 in Waikato - down 5.1 percent; 3,057 in Wellington - down 5.1 percent; 6,282 in rest of North Island - up 8.0 percent; 5,896 in Canterbury - up 11 percent; and 3,485 in rest of South Island - down 10 percent.

In the year ended December 2020, non-residential building consents totaled NZ$7.0 billion, down 5.5 percent from the December 2019 year. This series can be influenced by price changes - non-residential construction prices were up 2.4 percent in the September 2020 year.

In the December 2020 year, the non-residential building types with the highest values were: education buildings - NZ$1.2 billion (up 12 percent); storage buildings - NZ$1.2 billion (up 33 percent); and offices, administration, and public transport buildings - NZ$960 million (down 4.2 percent).

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