New dwelling consents hit ten-year high

Auckland accounted for 40% of new dwelling consents issued in July

New dwelling consents in July totaled 2,824, up from 2,282 in the previous July to the highest monthly total since March 2005. The number included 1,799 houses and 444 apartments. 

Seasonally adjusted, the number of new dwellings consented was up 20%, following a 3.3% fall in June. For houses only, the seasonally adjusted number was up 12%, following a 0.1% fall in June.

In the regions

Compared to July 2014, new dwelling consents increased in 13 of the 16 regions. The three biggest increases were in Auckland (up 267 to 1,116; +31%), Waikato (up 84 to 296; +40%) and Bay of Plenty (up 56 to 181; + 45%). Other regions to record an increase were Canterbury, Gisborne, Manawatu-Wanganui, Otago, Marlborough, Nelson, Northland, Otago, Taranaki and the West Coast.

Both Tasman (33) and Hawke’s Bay (30) recorded no change as Wellington (down 13 to 106; -11%) was the only region to consent fewer new dwellings in July.

Auckland trend hits 11-year high

Driven by the region’s housing shortage, the trend for the number of new dwellings consented in Auckland rose 5.5% in July to its highest level since November 2004. The 1,116 new dwelling consents issued in Auckland comprised 40% of the national total, and represented 35% by value.

There was $161m of non-residential building work issued in Auckland, again making up 35% of the national total. With the earthquake rebuild ongoing, Canterbury was the next biggest contributor, with $150m of non-residential work consented in the region.

Consents total $1.4 billion

The total value of building work consented in July 2015 was $1.4bn – comprising $976m of residential work, and $455m of non-residential work. For the year ended July 2015, compared with the July 2014 year, the value of building consents increased for:

All buildings –

up $1.5bn (11%) to $15bn

Residential buildings –
up $860m (9.5%) to $9.9bn

Non-residential buildings –
up $626m (13%) to $5.3bn.