7th month of 1000-plus consents for Auckland just like the early 1970s – for twice the population

Consents for new homes in Auckland have topped 1000 for the 7th time in 8 months and taken the region’s annual consent rate over 13,000 for the first time since the early 1970s, when the population was half the 1.696 million now.

The region’s share of national consents was steady at 37% for October, and jumped to nearly 40% for the year.

Consents rose 14% in Auckland for the month, 15% nationally. For the year, Auckland’s consents are up 25% but nationally the rise is less than 7%.

Standalones’ share up near 70% again

Standalone homes’ share of the market nationally jumped in September and again in October after a sharp decline in March was followed by another 5 months of a low share.

Standalones, at 2032 consents, topped 2000 for only the fourth month in 2 years. Consents for apartments, on the other hand, at 88 for the month, dropped below 100 for only the second time over those 2 years.

The standalone share was at 70.9% a year ago and reached 72% in January, but fell to 59.9% in March & 59.1% in April, then recovered to be above 60% over the next 6 months, reaching 65.4% in September & 69.4% in October.

Statistics NZ acting construction statistics manager Dave Adair said yesterday standalones represented 48% of Auckland consents for the year, but 74% over the rest of the country.

Although the number of consents nationally for standalones in October was 12.5% up on a year earlier at 2032 (1806), the annual consent rate for them has dropped in both the last 2 years, from 21,369 in the October 2016 year to 21,194 in the next 12 months and to 20,918 in the latest 12 months.

Apartment consents have risen every year since that sector of the market started to climb out of the global financial crisis doldrums in 2013. In the 12 months to October 2013, 943 apartment consents were issued, rising to 1916, then to 2337, to 2555, to 3001 and in the last 12 months to 3835.

Throughout those 6 years, consents for suburban units & townhouses have stayed well ahead of apartments: 1506 in the October 2013 year, then 2596, up to 3565 in 2015, then to 4267 & 4769, and to 6277 in the latest 12 months.

The national residential consent numbers for October and the year to October, compared to October last year, and the latest 12 months compared to the previous 12 months:

Total consents for new homes: 2926 (2549), up 14.8%; 32,925 (30,866), up 6.7%
Total value for new homes, plus alterations & additions: $1.298 billion ($1.227 billion), up 5.8%; $14.137 billion ($13.355 billion), up 5.9%
Alterations & additions, $165 million ($204 million), down 19.1%; $2.041 billion ($1.964 billion), up 3.9%
Standalone homes: 2032 (1806), up 12.5%; 20,918 (21,194), down 1.3%
Apartments: 88 (78), up 12.8%; 3835 (3001), up 27.8%
Retirement village units: 143 (220), down 35%; 1895 (1902), down 0.4%
Suburban townhouses & flats: 663 (445), up 49%; 6277 (4769), up 31.6%
Standalone share of consents:  69.4% for the month (70.9%); 63.5% for the year (68.7%).

All construction for October compared to October last year, and the latest 12 months compared to the previous 12 months:
Total: $1.96 billion ($1.68 billion), up 5.7%; $21.29 billion ($20.22 billion), up 5.3%
Non-residential: $622 million ($584 million), up 6.5%; $6.76 billion ($6.47 billion), up 4.5%.

The Auckland picture:

Around Auckland, residential consents were up in 9 wards and down in 4 for the month. For the year, they were up in 11 wards, down in 2.

Auckland residential consents, for October & year to October compared to October last year and the previous 12 months:

Region: 1077 (944), up 14.1% from last October, 36.8% of national total (37% last October); 13,078 (10,469), up 24.9%, 39.7% of national total for 12 months (33.9%)
Rodney: 86 (65), 791 (1022)
Albany: 203 (253), 2527 (2497)
North Shore: 39 (83), 857 (485)
Waitakere: 156 (29), 849 (555)
Waitemata & Gulf: 17 (14), 1184 (1132)
Whau: 50 (17), 593 (297)
Albert-Eden-Roskill: 96 (37), 914 (771)
Orakei: 24 (13), 440 (236)
Maungakiekie-Tamaki: 40 (36), 673 (629)
Howick: 56 (107), 866 (492)
Manukau: 79 (90), 1105 (490)
Manurewa-Papakura: 162 (152), 1596 (980)
Franklin: 69 (48), 682 (883)

Attribution: Statistics NZ.

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