Auckland still in the driving seat

Residential construction in Auckland and Canterbury accounted for more than half the national total in the December 2014 quarter

According to the latest figures from Statistics New Zealand, 1,703 new dwellings, including apartments, were consented in January compared to 1,644 in January 2014.

Seasonally adjusted, it represents a 3.8% decrease, following a 2.3% decrease in December 2014. But the trend for the number of new dwellings consented is continuing to rise, and is at its highest levels since July 2007.

Of the 1,703 new dwelling consents issued, 314 were for apartments (including 84 retirement village units). Excluding apartments, the seasonally adjusted number of new consents fell 7.5%, following a 1% increase in December.

Consents up in 10 of 16 regions

Ten of the 16 regions consented more new dwellings in January compared to the same month last year. The
largest increases were in Auckland (up 49 to 482, +11%), Waikato (up 43 to 180, +31%) and Bay of Plenty (up 37 to 139, +36%). Other regions to record an increase were Gisborne, Manawatu-Wanganui, Otago, Taranaki, Tasman, Southland and the West Coast.

The biggest decreases were in Canterbury (down 53 to 467, -10%), Northland (down 20 to 42, -32%) and Nelson (down 18 to 6, -75%). Hawke’s Bay and Wellington also recorded decreases, while there was no month-on-month change in Marlborough.

Month Total value nears $1bn

The total value of building consents issued in January was $996m, comprising $645m residential work
and $351m non-residential.

For the year ended January 2015, compared to the year ended January 2014, the value of all building
consents rose 19% to $14.7bn.

Building activity increases for 11th straight quarter

Building activity increased by 0.3% in the December 2014 quarter, the 11th consecutive gain. The unadjusted value of all building work was $3.9bn, up 22% compared to previous corresponding period.

The areas that contributed the most were:

• Northland and Central Auckland – $1.5bn, up 26%.
• Canterbury – $1.1bn, up 30%.
• South Auckland and Bay of Plenty – $487m, up 16%.

In current prices, residential building work increased a seasonally adjusted 6.2% this quarter. Unadjusted, the residential value of building work was $2.53bn. Auckland ($978m) accounted for 39% of the total and, despite falling new dwelling consents in January, Canterbury ($674m) accounted 27% of the total.

Following four quarters of growth, the seasonally adjusted value of non-residential building work fell 4.1% in the December 2014 quarter. Unadjusted, $1.47bn of non-residential work was completed, up 19% compared to previous corresponding period.