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Home construction boom continues

Hon Dr Nick Smith

Minister for Building and Construction

30 June 2017

Home construction boom continues

The number and value of homes being constructed across New Zealand is continuing to grow and reach new highs, Building and Construction Minister Dr Nick Smith said today in response to the May statistics on building consents.

“The 2794 building consents issued nationally in May is the highest for this month for more than 40 years, an 11 per cent increase on last May and over double the rate of five years ago. The annual home construction rate is up another 2000 to 30,645 a year, the highest rate for more than a decade. These positive figures show the Government’s efforts to grow housing supply through Housing Accords, Special Housing Areas, RMA reform and increasing Government housing initiatives is continuing to deliver results,” Dr Smith says.

“These figures confirm that New Zealand is experiencing its biggest ever building boom, with a record $19.7 billion level of annual investment. Residential building activity is annually up another 12 per cent to $12.8 billion, and commercial activity is up 9 per cent to $6.9 billion.

“New Zealand has never had six straight years of such strong growth in building activity. This growth is welcomed but we are having to put more effort into ensuring we maintain quality as well as quantity of construction.

“I particularly welcome the ongoing strong growth in Auckland residential construction. These May figures have construction there up 21 per cent on last May. The 10,379 homes consented for the year to May 2017 is the best in more than a decade.

“The Government’s housing programme is pulling every available lever to get more houses built. The resolution of the issues over the Three Kings and Point England developments this month will help maintain this positive momentum. Our ongoing programme of reforms to the Unit Titles Act, Urban Development Authorities and the Building Act, as well as our own ambitious building programme, will ensure this strong momentum is maintained.”

ends

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