Consents rebound in February

Seasonally adjusted, the number of new dwellings consented increased by more than 10% for the first time since April last year

Statistics New Zealand’s latest figures show that 2,418 new dwellings were consented in February – up 1.6% compared to the previous corresponding period.

The total comprised 1,761 houses, 373 townhouses, flats and units, 225 apartments and 59 retirement village units.

Seasonally adjusted, the total number of new dwellings consented rose 14%, following a 2.1% increase in January. For houses only, the seasonally adjusted figure also rose 14%.

Depressed trend continues

The trend for the number of new dwellings consented has fallen 11% since reaching a 12-year-high in mid-2016 and is showing signs of easing or decreasing across all six regions.

However, Statistics New Zealand notes that regional trends are volatile and can be revised each month.

In the regions

Compared to February 2016, the number of new dwellings consented in February this year increased in 13 out of the 16 regions, led by Northland (up 51 to 131; +64%), Manawatu-Wanganui (up 43 to 92; +88%) and Bay of Plenty (up 26 to 226; +13%).

Auckland, Gisborne, Hawke’s Bay, Marlborough, Nelson, Otago, Southland, Waikato, Wellington and West Coast were the other regions to record an increase.

Canterbury (down 164 to 361; -31%), Tasman (down 19 to 23; -45%) and Taranaki (down 13 to 42; -24%) were the only regions to consent less new dwellings in February 2017 compared to February 2016.