Consents for new homes fall back from April rise

The number of new housing units authorised (excluding apartments) fell 9.5 percent in May 2010 when adjusted for seasonal effects, Statistics New Zealand said today. This drop follows a 13.4 percent rise in April 2010. When the volatile apartment category is included, the number of new housing units authorised fell 9.6 percent, following an 8.4 percent rise in April 2010.

"The seasonally adjusted series reflects short-term behaviour and in recent months has been influenced by increased variability, which differs from the normal seasonal pattern," business statistics manager Louise Holmes-Oliver said.

The trend, which reflects long-term behaviour, for the number of new housing units authorised (excluding apartments) has been increasing since early 2009. However, the level is still 30 percent lower than the peak in June 2007.

In May 2010, residential building consents were issued for:

• 1,333 new housing units (excluding apartments)
• 27 new apartment units.

The value of consents issued for residential buildings rose $416 million (8.0 percent), while the value for non-residential buildings fell $802 million (17 percent) for the year ended May 2010, compared with the year ended May 2009.

Data for building consents is obtained each month from all territorial authorities.

Geoff Bascand 29 June 2010

Government Statistician