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Estimate of New Dwelling Units: April 2000

Estimate of New Dwelling Units: April 2000

Continuing Fall in New Housing Consents

An estimated 1,423 new dwelling units were authorised in April 2000, the lowest monthly total since January 1994 according to Statistics New Zealand. The underlying trend decreased for the ninth consecutive month. Prior to the decreases there were 11-months of increases.

Most territorial authorities recorded significantly fewer new housing approvals. Auckland and Christchurch totals were well below most other months throughout the previous year.

A number of factors may be having a negative impact on new dwellings authorised. Net outward migration, rising interest rates and a possible oversupply of houses following the building boom may all be affecting the total.

Ian Ewing Deputy Government Statistician

END

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