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Trend in the Number of New Dwellings Declines

Trend in the Number of New Dwellings Declines

Consents were issued for 2,232 new dwelling units in April 2003, according to Statistics New Zealand. The trend series for the number of new dwellings has been decreasing since November 2002, following a period of steady increases that began in December 2000. The volatility in the series for the number of new dwellings is due, to some extent, to fluctuations in the number of new apartments, and caution should be taken when interpreting changes to the series. The trend series for new dwelling units, excluding apartments, remains steady.

In April 2003, consents for 447 new apartment units were issued compared with 476 in March 2003, and 54 in February 2003. For the year ended April 2003, there were 5,824 new apartments, up 2,588 or 80 percent, when compared with the year ended April 2002.

The number of new dwelling units issued in the Auckland region in April 2003 was 240 lower than in April 2002. Of the total number of new dwelling units in April 2003, 780 or 35 percent were from the Auckland region. Other regions showing significant changes were Wellington (up 131 units), Canterbury (up 56 units), Nelson (up 44 units) and Waikato (up 40 units).

The total value of non-residential building consents issued in April 2003 was $233 million. This follows totals of $211 million in March 2003, and $206 million in February 2003. Consents issued for shops, restaurants and taverns were worth $41 million, 17 percent of the non-residential buildings total in April 2003. Consents for education buildings contributed $37 million or 16 percent, and factories and industrial buildings contributed $27 million or 12 percent.

The total value of consents issued for all buildings in April 2003 was $707 million. In April 2003 and 2002, residential buildings contributed 67 percent of the total value of all buildings. For the year ended April 2003, the total value of consents for all buildings was $8,153 million, up $1,256 million or 18 percent when compared with the year ended April 2002.

Brian Pink

Government Statistician


END


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