Housing consents trend slows

Embargoed until 10:45am – 27 September 2007

Housing consents trend slows

In August 2007, there were 2,465 new housing units authorised, 28 units more than in August 2006, Statistics New Zealand said today. The trend for the number of new housing units has been increasing since January 2007, but the rate has been slowing in recent months.

Excluding apartments, 2,212 new housing units were authorised in August 2007, 41 units more than in August 2006 Ten of the 16 regions authorised more new housing units (including apartments) in August 2007 than in August 2006, with the largest increases occurring in Auckland and Canterbury, and the largest decrease occurring in the Bay of Plenty. One less housing unit was authorised in the North Island, and 29 more were authorised in the South Island, when compared with August 2006.

The value of consents issued for residential buildings was $753 million, 8.5 percent higher than in August 2006. The trend for the value of residential buildings has been increasing since December 2006, but at a slower rate in recent months.

The value of consents issued for non-residential buildings was $398 million, 8.5 percent higher than in August 2006. Hostels and boarding houses showed the largest increase, followed by shops, restaurants and taverns. The largest decreases were for storage buildings, and hotels and other short-term accommodation.

Geoff Bascand
Government Statistician
27 September 2007

ENDS

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