Housing consents fall in February

The seasonally adjusted number of new houses authorised in February 2011, excluding apartments, has fallen 7.8 percent from January, Statistics New Zealand said today. This brings the level to the lowest point since February 2009.

Looking at the longer-term trend, the number of new houses authorised, excluding apartments, has continued to decline, and is down almost a third since the recent peak in March 2010. The trend is similar when apartments are included – it has declined 26 percent since April 2010.

In February 2011, without adjusting for seasonal effects, consents were issued for:

973 new houses, including apartments

884 new houses, excluding apartments

89 new apartment units.

The value of consents issued for residential buildings was $389 million in February 2011, down 20 percent compared with February 2010. The value of non-residential buildings also decreased, down by 19 percent to $257 million.

In February 2011, 148 new homes were authorised in Canterbury. This is 101 fewer homes than in February 2010 – the largest fall of any region. It is not possible to say how much of this fall was due to the earthquake on 22 February, but all consents authorised during the month have been included.

In Canterbury, 16 consents relating to the previous earthquakes were identified, including three new dwellings. The total value of these 16 consents was $2.6 million.

Geoff Bascand 30 March 2011

Government Statistician