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Embargoed until 10:45am – 30 June 2006

Embargoed until 10:45am – 30 June 2006

Building Consent Values High

The value of consents issued for all buildings in May 2006 was $1,059 million, $186 million more than in May 2005, Statistics New Zealand said today. Both residential and non-residential buildings recorded their highest values for a May month. The number of building consents issued for May 2005 was lower than usual as a result of changes to the Building Act 2004.

For residential buildings, the value of consents issued in May 2006 was $670 million, $134 million (25 percent) more than in May 2005. Despite the high May 2006 value, the trend for the value of residential buildings has flattened during recent months.

The value of consents issued for non-residential buildings was $388 million, $52 million (15 percent) more than in May 2005. The main contributors to the May 2006 value were shops, restaurants and taverns at $62 million, followed by offices and administration buildings at $47 million.

Consents for 2,111 new dwelling units, excluding apartment units, were issued in May 2006, compared with 1,866 in May 2005. However, the trend for the number of new dwelling units, excluding apartments, is decreasing.

There were 217 apartment unit consents issued in May 2006, compared with 170 units in April 2006, and 220 in March 2006. Apartments accounted for 9 percent of all new dwelling consents issued in May 2006, compared with a monthly average of 13 percent for the 12 months prior to May 2006.

Brian Pink
Government Statistician

ENDS

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