Auckland apartments drive consent growth

Several large apartment projects in Auckland drove a 15% increase in the seasonally adjusted number of new dwelling consents

A total of 2,926 new dwellings were consented in March, including 1,753 stand-alone houses and 492 apartments.

“About three-quarters of the new apartments consented were in Auckland, boosted by three large projects,” said Construction Statistics Manager Melissa McKenzie. “National new-home numbers continue to fluctuate month to month due to apartments and other large projects.”

While stand-alone houses accounted for 60% of total new dwelling consents, in seasonally adjusted terms they only increased 0.1% compared to the 15% seasonally adjusted increase for all new dwelling consents.

In the year ended March 2018, a total of 31,392 new dwellings were consented – up 2.5% on the previous corresponding period. Over the same period, the number of apartments (+28%) and townhouses, flats and units (+15%) consented also increased, while stand-alone houses (-2.6%) and retirement village units (-5.1%) fell.

In the regions

Eight out of the 16 regions consented more new dwellings in March this year, compared to March 2017, led by Auckland (up 140 to 1,082; +15%), Wellington (up 126 to 286; +79%) and Manawatu-Wanganui (up 62 to 137; +83%). Hawke’s Bay, Marlborough, Southland, Tasman and Waikato also consented more new dwellings.

Otago (down 86 to 124; -41%), Canterbury (down 56 to 435; -11%) and Northland (down 27 to 108; -20%) recorded the biggest month-on-month decreases. Bay of Plenty, Nelson, Taranaki and West Coast were the other regions to consent fewer new dwellings in March 2018 compared to March 2017.

Gisborne consents remained unchanged on six.

Non-residential consents valued at $6.6bn

In the year ended March 2018, non-residential building consents totalled $6.63bn – up 2.6% from the previous 12-month period.

Combined, the Auckland ($2.6bn; +17%) and Canterbury ($1.5bn; -7.2%) regions contributed over 60% of the total value of non-residential building consents.