Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Investment in Commercial Buildings Higher

Building Consents Issued: December 1999

Investment in Commercial Buildings Higher

The level of investment in commercial buildings continued to rise in December 1999 according to the latest release from Statistics New Zealand. The underlying trend for the value of consents issued for non-residential building projects increased almost 2 per cent. Commercial building consents were $231.7 million, following November's total of $273.1 million. With the exception of one other month, totals throughout 1999 were below $200 million.

A number of large consents influenced the high total. Making up the greatest portion of the non-residential total were social, cultural and religious buildings. The total for this building type was boosted by large consents issued for upgrades to public recreational facilities. Shops, restaurants and taverns have recorded a higher than usual total for the second month in a row, largely influenced by alterations and additions to existing shopping malls.

There were 1,979 new dwellings authorised in December. These were valued at $268.8 million. The underlying trend for the number and value of new dwellings is declining and has been for five months. Uncertainty about rising interest rates may be affecting the level of new housing applications. The number of apartment units authorised in December was 325, with over half being in Auckland. Consents for apartment units have risen substantially over the last year, and despite reports of saturation in the apartment market, monthly totals do not yet appear to be seriously affected.

Ian Ewing Deputy Government Statistician

© Scoop Media

Business Headlines | Sci-Tech Headlines


Tax Bill Passes, Drops: “An End To Unnecessary Secondary Tax”

“The changes mean Inland Revenue will more closely monitor the tax paid by wage and salary earners through the year. If it appears the worker is being over taxed, Inland Revenue will suggest a more suitable PAYE tax code tailored to that worker.” More>>


Ethiopian Airline Crash: Boeing 737 Max Aircraft Operations Temporarily Suspended

New Zealand’s Civil Aviation Authority has suspended the operation of Boeing 737 MAX aircraft to or from New Zealand. Currently this affects only one operator, Fiji Airways. There are no other airlines that fly this aircraft type to New Zealand. More>>


Sorting Out DNA: Crime-Busting Software Wins Top Science Prize

Software developed in New Zealand that has contributed to identifying suspects in tens of thousands of criminal cases around the world has won the 2018 Prime Minister’s $500,000 Science Prize. More>>


In The High Court: IRD Wins Tax Avoidance Case

Inland Revenue has won a High Court case against Eric Watson’s Cullen Group over a nearly $52 million tax debt. More>>


Insurers Withdraw From Market: Plea For EQC Rethink

A consumer watchdog wants the government to rethink the Earthquake Commission (EQC) as more people are pushed out of getting property and contents insurance. More>>


Women's Day: New Zealand Rated Third Best In OECD For Working Women

New Zealand has been rated among the top countries in the world for working women. The Women in Work Index rated New Zealand third in the OECD and it was the only country outside Europe to make the top 10. More>>