Trends for new home approvals continue to rise

Trends for new home approvals continue to rise

The trends for the number of new homes authorised, both including and excluding apartments, continue to rise after dropping to some of the lowest levels seen since these series began, Statistics New Zealand said today. This is despite seasonally adjusted figures for September showing a large decrease, whether apartment numbers, which tend to be volatile, are included or excluded.

"The large decrease in seasonally adjusted figures for new home approvals in September partly reflects the strength of the increases in the previous two months," industry and labour statistics manager Louise Holmes-Oliver said. "While monthly figures have decreased, the trend for new home approvals continues to rise".

In September 2011, seasonally adjusted figures fell 17 percent, including apartments, and fell 14 percent when apartments are excluded.

In September 2011, compared with September 2010, consents were issued for:  1,246 new homes, including apartments, down 1.3 percent  1,124 new homes, excluding apartments, down 6.5 percent  122 new apartments, including 79 assisted-living units.

In Canterbury, earthquake-related building consents totalled $29 million in September 2011. This comprised $26 million non-residential consents and $3 million in residential consents, including consents for four new dwellings.

Residential consent values totalled $398 million in September 2011, down 12 percent compared with the same month last year, while non-residential consents totalled $320 million, down 13 percent. Consent values for all buildings totalled $717 million, down 12 percent.

Data for building consents is obtained from all territorial authorities. For more information on building consent statistics, see Building Consents Issued: September 2011.

BuildingConsentsIssuedSep11.pdf

Cathryn Ashely-Jones

Acting Government Statistician

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