Growth In Number Of New Dwellings Continues
26 April 2002
Building consents for 1,986 new dwelling units were issued in March 2002, worth $333.7 million, according to the latest figures from Statistics New Zealand. The trend in the number of new dwelling units has increased by 23 percent over the 15 months since December 2000. However, the level of the trend is still below the peak reached in July 1999.
For the year ended March 2002, the average number of new dwelling units was 1,775 per month compared with 1,614 per month for the year ended March 2001. This is an increase of 161 units per month or 10.0 percent. The change has mainly been driven by an increase in the average number of dwelling units in the Auckland region, up 100 dwelling units per month on average or 16.2 percent compared with the year ended March 2001. Otago also increased significantly, up 29 dwelling units per month or 49.2 percent. When comparing the same periods, the Wellington region fell by 14 dwelling units per month on average or 7.8 percent, and the Canterbury region rose by 13 dwelling units per month on average or 6.6 percent.
The total value of non-residential building consents in March 2002 was $175.8 million. The trend series for non-residential buildings has been decreasing since July 2001. This series should be treated with caution, as time series analysis shows that observations are required for 11 months before a change in the direction of the trend can be indicated.
Consents issued for offices and administration buildings comprised $49.4 million or 28.1 percent of the non-residential total. Education buildings contributed $22.3 million (12.7 percent), followed by shops, restaurants and taverns with $21.0 million (11.9 percent).
The total value of all building consents issued in March 2002 was $574.9 million.
Brian Pink Government Statistician