Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ building consents fall 5.4% in November, apartments lead

NZ building consents fall 5.4% in November as apartment issuance declines

Jan. 9 (BusinessDesk) - New Zealand building consents fell 5.4 percent in November as the typically volatile demand to build new apartments shrank to its lowest level since April 2011.

The number of new dwellings consented fell to a seasonally adjusted 1,423 in November from 1,505 a month earlier, according to Statistics New Zealand. Stripping out permits to build new apartments, consents rose 4.6 percent to a seasonally adjusted 1,382.

There were just 39 consents issued for new apartments in November, all retirement village units, and 64 percent lower than a year earlier. Still, on an annual basis, apartment consents are up 52 percent to 1,665.

The South Island drove new dwellings growth in the month, with Canterbury consents up 71 percent to 413 from November 2011, and Otago up 65 percent to 124 consents issued. Auckland continued to dominate the total number of consents at 432.

Earthquake-related Canterbury consents totalled $59 million in November, and since the Sept. 4, 2010 temblor there have been almost 3,400 consents worth $749 million issued.

The value of non-residential building consents increased 1.3 percent to $420 million in November from the same month a year earlier, while the value of all building consents climbed 15 percent to $1.05 billion in the month.

The value of commercial consents was up 7.2 percent to $3.9 billion on an annual basis, while all building construction permits climbed 18 percent to $10.03 billion in the year ended Nov. 30.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Food: Govt Obesity Plan - No Tax Or Legislation

Speaking to Q+A’s Corin Dann this morning, health minister Jonathan Coleman said tackling obesity was at the top of the Government’s priority list, but there was “no evidence” a sugar tax worked, and further regulation was unnecessary. More>>

ALSO:

Treasury Docs On LVR Policy: Government Inaction Leads To Blurring Of Roles

The Treasury wouldn’t have had to warn the Reserve Bank to stick to its core functions if the Government had taken prompt and substantial measures to rein in skyrocketing Auckland house prices, Labour’s Finance spokesperson Grant Robertson says. More>>

ALSO:

Final EPA Decision: Tough Bar Set For Ruataniwha Dam

Today’s final decision by the Tukituki Catchment Board of Inquiry is good news for the river and the environment, says Labour’s Water spokesperson Meka Whaitiri. “Setting a strict level of dissolved nitrogen in the catchment’s waters will ensure that the dam has far less of an impact on the Tukituki river." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news