Sharp drop in apartment consents, standalones & total static

Statistics NZ highlighted a sharp drop in apartment consents yesterday when it issued building consent figures for October, but that’s only a small part of the total market, and a volatile one at that.

Most significantly in a comparison with October last year, consents for standalone homes were static and the total for the October year was also static – still in the range of 30-31,000.

Consents for standalone homes & retirement village units were down slightly for the year, apartments & suburban units were up by about 500 each.

The national 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: 2549 (2575), down 1% ; 30,866 (30,225), up 2.1%
Total values for new homes:  $1.23 billion ($1.14 billion), up 7.7%; $13.36 billion ($12.46 billion), up 7.2%
Standalone homes: 1806 (1802), up 0.2%; 21,194 (21,369), down 0.8%
Apartments: 78 (229), down 65.9%; 3001 (2555), up 26.4%
Retirement village units: 220 (174), up 26.4%; 1902 (2034), down 6.5%
Suburban townhouses & flats: 445 (370), up 20.3%; 4769 (4267), up 11.8%

All construction for October compared to October last year, and the latest 12 months compared to the previous 12 months:
Total: $1.86 billion ($1.74 billion), up 6.6%; $20.2 billion ($19.05 billion), up 6.2%
Non-residential: $584 million ($526 million), up 11.2%; $6.47 billion ($6.1 billion), up 6.1%.

Attribution: Statistics NZ tables & release.

Comments are closed.
WordPress Appliance - Powered by TurnKey Linux