Planning consent for new homes in New Zealand up 24% annually
2015-09-14It was boosted by apartments and town houses, flats, and units and Waikato led the growth with consents up 40% while Auckland saw growth of 31%, well above the national average.
The total value of consents for all buildings in July 2015 was $1.4 billion, with some $976 million for residential buildings and $455 million for non-residential buildings.
The data also shows that over $4 billion worth of building work was put in place in the June 2015 quarter, up nearly 8% on the June 2014 quarter, the highest quarterly value recorded in the 50 years since the series began, and represents almost $900 worth of building work per person.
After removing price changes and seasonal variations, the overall volume of building activity increased 1.6% following a 1.8% increase in the March 2015 quarter. Within this, the volume of non-residential work increased 5.2% while residential work fell 1%.
The volume trend for non-residential building activity reached a new high in the June 2015 quarter, exceeding levels last seen in the March 2006 quarter. Meanwhile, the residential building activity volume trend is still 8% lower than the June 2004 quarter peak.
The overall building activity volume trend grew to a level last seen 10 years ago in the June 2005 quarter, the previous series peak.
Source: http://www.propertywire.com/news/australasia/new-zealand-homes-planning-2015091010969.html
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