Consents for new houses down in July

The seasonally adjusted number of new housing units authorised, excluding apartments, fell 5.3 percent in July 2010, following a 1.1 percent rise in June 2010, Statistics New Zealand said today.

When the volatile apartment category is included, the number of new housing units authorised rose 3.1 percent, following a 3.3 percent rise in June 2010.

In July 2010, consents were issued for:

• 1,473 new housing units, including apartments
• 1,270 new housing units, excluding apartments
• 203 new apartment units.

"This is the highest monthly number of apartment units authorised for more than a year," business statistics manager Louise Holmes-Oliver said, "and over half of these were for retirement units."

The value of consents issued for residential buildings rose $48 million (11 percent) for July 2010 compared with July 2009. In contrast, the value for non-residential buildings fell $78 million (21 percent). Consent values remain at low levels.

Reflecting long-term behaviour, the trend for the total number of new housing units authorised has been increasing since early 2009. However, the level is 49 percent lower than the peak in January 2004.

Excluding apartments, the trend appears to have reached a turning point and has fallen in recent months (following increases that began in April 2009).

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