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Fewer Apartments Authorised in October

30 November 2005

Building Consents Issued: October 2005 —

Fewer Apartments Authorised in October

Consents were issued for 1,901 dwelling units in October 2005, 718 fewer than in October 2004, Statistics New Zealand said today. Dwelling consents for October 2005 included 168 apartment units, whereas consents for October 2004 were bolstered by 708 apartment units.

Consents for new apartments reached high levels during much of 2002 to 2004 but have made a less significant contribution in recent months, with 273 units authorised in September 2005 and 275 in August 2005. Apartment consents are volatile and can vary from month to month.

The trend for the number of new dwelling authorisations has been relatively flat in recent months, after falling from the high points of 2003 and 2004. The value of consents issued for residential buildings in October 2005 is $557 million, $53 million lower than in October 2004.

For non-residential buildings, the value of consents issued in October 2005 is $309 million, $39 million lower than in October 2004. The largest contributor in October 2005 was shops, restaurants and taverns, with a value of $64 million. The trend for the value of non-residential building consents remains at a relatively high level.

For the year ended October 2005, the value of consents for all buildings totalled $10,810 million, up $328 million from the October 2004 year. Residential buildings accounted for 63 percent of all building consent values for the October 2005 year, compared with 67 percent for the previous October year.

Brian Pink

Government Statistician

ENDS

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