APRIL STATS SHOW RESIDENTIAL CONSENTS "EASING"

By NZHJ May 31, 2016 Industry news

Above: the value of residential building consents, May 2014 to Apr 2016 ($ millions).

Stats NZ's figures for April 2016 show dwellings growth easing due to lull in apartment consents.

Statistics NZ says the actual value of building work consented in April 2016 was $1.4 billion. For April 2016 compared with April 2015:

  • Residential work: $948 million (+25%).
  • Non-residential work: $459 million (+9.4%).

In April 2016, building consents were issued for 2,361 new dwellings, comprising:

  • 1,742 houses.
  • 335 townhouses, flats & units.
  • 259 retirement village units.
  • 25 apartments (the lowest number since March 2013).

Canterbury, Bay of Plenty and Northland all saw big growth in dwellings, but the region with the largest decrease was Auckland (-23%), due to a decrease in apartments.

Despite the softening of growth highlighted by Stats NZ, our year to date (Jan-April) figures still show improved dwellings growth over the same period in 2015:

            Volume                Value ($ millions)
2007   8,023
2008   7,557   -5.8%
2009   3,971   -47.5%
2010   5,318   +33.9%
2011   3,854   -27.5%        1,472
2012   5,091   +32.1%       1,831   +24.4%
2013   6,084   +19.5%       2,316   +26.5%
2014   7,489   +23.1%       2,907   +25.5%
2015   7,844   +4.7%         3,096   +6.5%
2016   8,750   +11.6%       3,802   +22.8%

For the 12 months ended April 2016, compared with the year ended April 2015, the value of buildings consented increased for:

  • All buildings:  $17 billion (+14%).
  • Residential buildings: $11 billion (+16).
  • Non-residential buildings: $5.9 billion (+11%).

The chart below shows the value of non-residential building consents, May 2014 to Apr 2016 ($ millions):

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