Housing consents decline continues

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

The trend has been decreasing since June 2007.There were 1,567 new housing units authorised in March 2008, 702 units fewer than in March 2007.

Consents for 50 new apartment units were issued, 140 fewer than the same month a year earlier.

In the North Island, 479 fewer new housing units were authorised compared with March 2007, while in theSouth Island 223 fewer were authorised.

Thirteen of New Zealand's 16 regions authorised fewer units, with Canterbury and Auckland recording the largest decreases.

Residential building consents issued in March 2008 were valued at $541 million, down $169 million fromMarch 2007.

Non-residential building consents issued in March 2008 were valued at $354 million, down $59 million fromMarch 2007.

Geoff BascandGovernment Statistician

There is a companion Hot Off The Press information release published – Building Consents Issued: March2008.