Financial News: New Zealand Building Consents Climb 9.6% In March

New Zealand Building Consents Climb 9.6% In March

05/01/2025 - 18:54:00 (RTTNews)

(RTTNews) - The total number of building permits issued in New Zealand was up a seasonally adjusted 9.6 percent on month in March, Statistics New Zealand said on Friday - up sharply from the 0.7 percent increase in February.

In March 2025, there were 3,398 new dwellings consented, comprising: 1,452 townhouses, flats, and units; 1,374 stand-alone houses; 495 apartments; and 77 retirement village units.

In the year ending March 2025, the actual number of new dwellings consented was 34,062, down an annual 3.3 percent. The annual value of non-residential building work consented was NZ$8.9 billion, down 7.2 percent from the year ended March 2024.

In the March 2025 quarter, the seasonally adjusted number of new homes consented rose 3.3 percent, after falling 3.3 percent in the December 2024 quarter.

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