Housing consents on downward trend

Building consents data shows that the trends for both the number of new housing units and the value ofresidential buildings are declining, Statistics New Zealand said today.

Both trends have been decreasingsince June.

There were 1,738 new housing units authorised in December 2007, 145 fewer compared with December2006.

There were 214 new apartment units authorised (following low numbers authorised in September toNovember), which is 101 more new apartments than in December a year earlier.

The decrease in new housing units occurred mostly in the South Island with 125 fewer units authorisedcompared with December 2006.

There were 21 fewer in the North Island. Half of New Zealand's 16 regionsauthorised fewer units, with the largest decrease in Canterbury where 113 fewer units were authorised.

The largest increase was 29 units in Taranaki.

The value of residential building consents authorised in December 2007 was $539 million, down $25 millionfrom December 2006.

There was little change in the value of non-residential building consents, which totalled $331 million inDecember 2007, compared with $333 million in December 2006