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Dwelling Consents Number Continues Volatility

Building Consents Issued: May 2005 — 30 June 2005

Dwelling Consents Number Continues Volatility

The consents series for new dwelling units continues recent volatility, Statistics New Zealand said today. Consents for 1,977 new dwelling units were issued in May 2005, down 567 units (22 percent) compared with May 2004. This follows a surge of consents in March 2005 and a fall in April after the introduction of increased consent fees effective from 31 March 2005. This was a result of an increase in the Department of Building and Housing levy, along with new building requirements through the Building Act 2004.

Consents were issued for 111 new apartment units in May 2005, compared with 154 units in April, 882 units in March, and 327 units in February 2005. Apartment units accounted for 6 percent of all new dwelling units in May 2005, compared with 10 percent in April and 29 percent in March.

The total value of consents issued for residential buildings was $536 million in May 2005, down $50 million from May 2004. The total value of consents issued for non-residential buildings was $337 million in May 2005, up $93 million (38 percent) from May 2004. The largest contributor to this value was offices and administrative buildings, with $72 million.

The total value of consents issued for all buildings in May 2005 was $873 million, up $43 million (5 percent) from May 2004. Residential buildings contributed 61 percent to the total value of all buildings, compared with 71 percent in May 2004. Brian Pink Government Statistician

ENDS

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