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Financial News: New Zealand Building Permits Climb 1.2% In November

New Zealand Building Permits Climb 1.2% In November

01/13/2021 - 17:15:00 (RTTNews)

(RTTNews) - The number of building permits issued in New Zealand advanced a seasonally adjusted 1.2 percent on month in November, Statistics New Zealand said on Thursday, standing at 3,881.

That follows the upwardly revised 8.9 percent jump in October (originally 8.8 percent).

In the year ended November 2020, the actual number of new dwellings consented was 38,624, up 4.2 percent on year.

The annual value of non-residential building work consented was NZ$7.0 billion, down 6.0 percent from the November 2019 year.

In November, consents were issued for 2,056 stand-alone houses; 1,219 townhouses, flats, and units; 408 apartments; and 198 retirement village units.

By region, the numbers of new dwellings consented in the year ended November 2020 were: 16,293 in Auckland - up 9.6 percent; 4,028 in Waikato - down 3.5 percent; 2,990 in Wellington - down 2.2 percent; 5,999 in rest of North Island - up 2.6 percent; 5,793 in Canterbury - up 9.1 percent; and 3,518 in rest of South Island - down 7.3 percent.

In the year ended November 2020, non-residential building consents totaled NZ$7.0 billion, down 6.0 percent from the November 2019 year.

In the November 2020 year, the non-residential building types with the highest values were: education buildings - NZ$1.1 billion (up 9.3 percent); storage buildings - NZ$1.1 billion (up 20 percent); and offices, administration, and public transport buildings - NZ$967 million (down 1.3 percent).

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