Residential building consent values up in May

The value of residential building consents rose in May 2012, compared with May 2011, Statistics New Zealand said today. The total value of residential building consents rose 37 percent to $532 million for May 2012. The value trend has been rising for the past year.

"This is the highest value of residential building consents issued for a May month since 2008," industry and labour statistics manager Blair Cardno said. "The number of new housing approvals also rose this month to its highest level for a May month since 2008."

Housing consent numbers for May 2012, compared with May 2011, were:

• 1,372 new houses, including apartments, up 20 percent
• 1,304 new houses, excluding apartments, up 22 percent
• 68 new apartments, 26 of which were retirement village units, up from 66 apartments.

After removing seasonal fluctuations, there were decreases in the number of new houses, both including and excluding apartments, in May 2012, compared with April 2012. These falls follow decreases in April and large rises in March, and are consistent with the volatile nature of the series. The trends for the number of new houses, both including and excluding apartments, have both been rising over the last year.

Auckland had the largest regional increase in new houses (up 125), including 37 new apartments in May 2012. The Canterbury region also had a significant rise in the number of new houses (up 100), with the majority of consents for houses located outside Christchurch city in the surrounding districts.

In Canterbury, earthquake-related building consents totalled $47 million in May 2012, the second-highest monthly total since the Canterbury earthquakes began in September 2010. Of this, $30 million was for non-residential work and $17 million was for residential work, including 34 new houses.

Data for building consents is obtained from all territorial authorities in New Zealand.

See also:  Building Consents Issued: May 2012  –  Information release