Trend for new housing rising from low level

New housing approvals show a gradually rising trend for the eight months to November 2011, Statistics New Zealand said today. However, numbers remain close to the recent historically low levels.

"Although housing trend numbers continue to rise, seasonally adjusted figures are still volatile," industry and labour statistics manager Louise Holmes-Oliver said. "Figures dipped in November, the third change in direction in as many months."

The unadjusted number of new houses approved in November 2011 is down compared with November 2010. The decrease occurred because apartment numbers spiked in November 2010 and fell back to a more typical level this November. Housing approval numbers for November 2011, compared with November 2010, were:

• 1,384 new houses, including apartments, down 5.9 percent
• 1,275 new houses, excluding apartments, up 2.5 percent
• 109 new apartments (all of which are retirement units), down from 226.

Housing numbers rose in Auckland, but fell (mostly due to apartments) in Canterbury, Wellington, and Otago.

Consent values for November 2011, compared with November 2010, were:

• $919 million total building work, down $74 million
• $504 million residential work, down $9 million
• $415 million non-residential work, down $65 million.

In Canterbury, earthquake-related building consents totalled $47 million in November 2011.

This comprised $35 million for non-residential work, $7 million for residential work including 10 new houses, and $5 million for non-building construction.

Data for building consents is obtained from all territorial authorities. For more information on building consent statistics, see Building Consents Issued: November 2011.