Consents for new homes fall back from February rise

The number of new housing units authorised (excluding apartments) fell 8.3 percent in March 2010 when adjusted for seasonal effects, Statistics New Zealand said today. This follows a 9.8 percent rise in February 2010, and brings the level similar to January 2010.

"Although there have been large seasonally adjusted movements in the last two months, the trend has been levelling off after increasing since March 2009," business statistics manager Louise Holmes-Oliver said.
When the volatile apartment category is included, the number of new housing units authorised fell 0.4 percent when adjusted for seasonal effects, following a 5.8 percent rise in February 2010.

In March 2010, residential building consents were issued for:

• 1,426 new housing units (excluding apartments)
• 75 new apartment units.

In the March 2010 year, there were 15,381 consents issued for new housing units, including apartments, a 5.3 percent decrease from the March 2009 year. "This is the lowest annual total for a March year since 1981," Mrs Holmes-Oliver said.

The value of residential building consents fell 3.9 percent, while the value of non-residential buildings fell 5.1 percent in the March 2010 year compared with the March 2009 year.

Data for building consents is obtained each month from all territorial authorities.
Geoff Bascand 30 April 2010
Government Statistician