Housing consents drop in May

Building consents statistics show there were 1,653 new housing units authorised in May 2008, a decrease of 669 units compared with May 2007, Statistics New Zealand said today.

There were 105 apartment units authorised, down five units compared with May 2007.

Excluding apartments, there were 1,548 new housing units authorised in May 2008, down 664 units. The trend has been declining since June 2007.

In thirteen of New Zealand's 16 regions, there were fewer new housing units authorised in May 2008 compared with May 2007, with 437 fewer in the North Island, and 232 fewer in the South Island.

Residential building consents issued in May 2008 were valued at $553 million, down $181 million from May 2007.

Non-residential building consents issued in May 2008 were valued at $356 million, down $36 million from May 2007.