Trend for housing consents continues to decline

Building consents statistics for February 2008 show a continuing decline in the trend for the number of newhousing units, Statistics New Zealand said today.

This trend has been decreasing since June 2007.

There were 1,874 new housing units authorised in February 2008, 218 units fewer than in February 2007.

Consents for 173 new apartment units were issued, 56 fewer than a year earlier.

In the North Island, 30 fewer new housing units were authorised compared with February 2007, while in the South Island 189 fewer were authorised.

Nine of New Zealand's 16 regions authorised fewer units, with thelargest decreases in Canterbury, down 176 units, and in Waikato, down 101 units.

Residential building consents issued in February 2008 were valued at $615 million, up $18 million fromFebruary 2007.

Non-residential building consents issued in February 2008 were valued at $361 million, up $78 million fromFebruary 2007.