Housing consents downward trend continues

Building consent statistics for the month of September 2008 show the trend for the number of new housing units has been falling since mid-2007, Statistics New Zealand said today. The trend has fallen 41 percent since then, and is at its lowest level since January 1983.

There were 1,635 new housing units authorised in September 2008. This includes 366 new apartment units.

In September 2008, the seasonally adjusted number of authorised new housing units excluding apartments fell 0.8 percent compared with August 2008. However, when apartments are included, the number rose 8.4 percent (due to the higher number of apartments authorised in September compared with recent months).

For the year ended September 2008, the value of consents issued for residential buildings fell 13 percent, while the value for non-residential buildings rose 10 percent, compared with the year ended September 2007. For the month of September 2008, the value of consents issued for non-residential buildings was $450 million, the second-highest monthly total since November 2005.