Housing consents decline in August

The seasonally adjusted number of new housing units authorised, excluding apartments, fell 8.9 percent in August 2010, to the lowest number for more than a year. This follows a fall of 6.0 percent the month before, Statistics New Zealand said today.

"Looking at the longer-term trend, the number of new homes consented, excluding apartments, has been falling since March this year," business statistics manager Louise Holmes-Oliver said. "This follows increases that began in April 2009, after the recent economic downturn."

When the volatile apartment category is included, the seasonally adjusted number of new housing units authorised fell 18 percent, following a 2.4 percent rise in July 2010. Latest figures indicate the trend has fallen for the last four months.

In August 2010, without adjusting for seasonal effects, consents were issued for:

1,229 new housing units, including apartments

1,193 new housing units, excluding apartments

36 new apartment units.

The value of consents issued for residential buildings was $473 million in August 2010, up 7.6 percent compared with August 2009. In contrast, the value of non-residential buildings was $296 million, down 23 percent. Consent values remain at low levels.

Data for building consents is obtained each month from all territorial authorities. This release covers consents authorised in the month of August, before the earthquake in Canterbury on 4 September 2010.