Trend In Number of New Dwelling Units Declines

Trend In Number of New Dwelling Units Declines

Building consents issued in May 2004 confirmed a downward trend in the number of new dwelling units since January 2004, according to Statistics New Zealand. This follows a period of steady increases to the trend series which began in May 2003. Consents were issued for 2,544 new dwelling units in the month of May 2004.

The trend series for the number of new dwelling units, excluding apartment units, has been declining since November 2003. Consents were issued for 2,238 new dwelling units, excluding apartment units, in May 2004. Consents for 31,793 new dwelling units were issued in the year ended May 2004, which was 11 percent higher than in the year ended May 2003. The total number of new dwelling units for the year ended May 2004 is the largest total recorded for a May year since 1975.

Nine out of 16 regions recorded more new dwelling units in May 2004 than in May 2003. Waikato (up 33 units) recorded the largest increase when comparing the two May months, followed by Northland (up 20 units) and Taranaki (up 19 units). The Auckland region contributed 835 units (33 percent) to the total number of new dwelling units in May 2004.

The total value of consents issued for non-residential buildings in May 2004 was $243 million. Consents issued for factories and industrial buildings were worth $44 million (18 percent of the total) in May 2004. This was followed by consents issued for shops, restaurants and taverns worth $38 million (16 percent), office and administration buildings worth $37 million (15 percent), and education buildings worth $34 million (14 percent).

The total value of consents issued for all buildings in May 2004 was $830 million, following totals of $774 million in April 2004 and $996 million in March 2004. For the year ended May 2004, the total value of consents for all buildings was $9,854 million, which was an increase of $1,699 million (21 percent) compared with the year ended May 2003.

Brian Pink

Government Statistician

© Scoop Media