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Value of Building Consents Increases

The total value of consents issued for all buildings in July 2000 Was $488.8 million, according to Statistics New Zealand.

The underlying trend in the value of all building consents has shown steady growth for the Last four months.

This reflects the increasing trends for the value of both residential and non-residential buildings.

The total value of consents issued for non-residential buildings in July 2000 was $210.4 million.

Boosting this total were consents worth $57.8 million recorded for shops, restaurants and taverns. This, the highest total recorded for this building type since August 1994, includes several multi-million dollar consents for individual projects.

The underlying trend for the value of non-residential buildings has shown slight growth for the last 16 months.

There were 1,688 new dwelling units authorised in July 2000 valued at $226.4 million. Included in the new dwelling total were 344 authorised apartment units valued at $22.7 million, 210 of which were in Auckland City, with the rest being spread over Waitakere City, Wellington and Christchurch.

The underlying trend for the value of residential buildings has been increasing for four months, while the trend for the number of new dwellings has been declining for 12 months now. However, over the last three months the rate of decline has slowed to the point where it is virtually flat.

Ian Ewing Deputy Government Statistician

Ends

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