Housing consents trend falls steadily

Building consent statistics for July 2008 show the trend for the number of new housing units has been declining since June 2007, Statistics New Zealand said today. The trend has fallen 35 percent since that month.

The trend for the total value of residential building consents also continues to decline from its peak in June 2007.

There were 1,410 new housing units authorised in July 2008. This is the second-lowest monthly total since February 2001 – the lowest total since then was recorded in June 2008.

Residential building consents issued in July 2008 were valued at $491 million, down $188 million from July 2007. Non-residential building consents were valued at $349 million, down $4 million from July 2007.

For the year ended July 2008, the value of consents issued for residential buildings fell $712 million, while non-residential buildings rose $218 million, compared with the year ended July 2007.