NZ January building consents rise 8.3%, led by Christchurch

NZ building consents rise 8.3% in January, driven by activity in Christchurch

Feb. 29 (BusinessDesk) – New Zealand home building consents rose last month, with the biggest increase in Canterbury, reflecting rebuilding efforts in Christchurch after the devastating earthquakes.

Building consents rose 8.3 percent to 1,326, seasonally adjusted and including apartments, according to Statistics New Zealand. Excluding apartments, consents rose 3.7 percent in January, the first gain in three months.

Canterbury’s gains were driven primarily by permits for retirement units, suggesting a build up of demand because of the ongoing aftershocks in the region that have delayed the reconstruction efforts.

Consents in Canterbury jumped to 379 last month, the highest of any region, from 199 in December. In the city of Christchurch alone, there were 209 consents issued, up from 61 in the previous month.

By contrast, new dwellings authorized in the North Island fell 0.8 percent to 595, with those issued in Auckland falling 10 percent to 232.

There were 198 consents issued for apartments, in unadjusted numbers, last month, from 148 in December.

In the year, total home building consents fell 9.1 percent.

Total non-residential consents fell to 655 in January from 814 in December.

(BusinessDesk)

© Scoop Media