July 2024 consents up month-on-month
16 Sep 2024, Industry Updates, News
The month of July 2024 saw 3,352 new homes consented, an increase of 9.6% compared with the month of July 2023 and only the second month-on-month increase since September 2022
The 3,352 new homes consented in July 2024 was the largest number of monthly consents since June 2023 (3,402). That total consisted of 1,685 stand-alone houses (up 42.4% compared with July 2023) and 1,667 multi-unit homes (down 11.1% compared with the same period).
Stats NZ Construction and Property Statistics Manager Michael Heslop said that a contributing factor to the increase was that July 2024 had more working days than July 2023, allowing for more time to process consents for new homes (Matariki was observed in July last year and in June this year).
He added that “a large project in the Queenstown-Lakes district contributed to a sharp rise in stand-alone houses consented in July 2024”.
In the period between June 2023 and July 2024, there were six month-to-month rises in consents: July to August 2023 (3,058 to 3,170; +112), September to October 2023 (2,898 to 3,060; +162), February to March 2024 (2,795 to 2,931; +136), April to May 2024 (2,926 to 3,175; +249) and June to July 2024 (2,178 to 3,325; +1,174).
However, when considered on an annual basis, the number of new homes consented in the year ended July 2024 (33,921) decreased by 22% compared with the year ended July 2023.
Of the total, 15,418 stand-alone homes (-14.1%) and 18,503 multi-unit homes (-27.5%) were consented.
Of the multi-unit homes, there were 1,796 apartments, 1,758 retirement village units and 14,949 townhouses, flats and units.
In seasonally adjusted terms, the number of new homes consented in July 2024 rose 26% when compared with June 2024.
Similar regional outlook
No region consented more dwellings in the year ended July 2024 compared to the previous year.
The four regions with the most consents issued were Auckland (13,662; -27.1%), Canterbury (6,762; -11.6%) Waikato (3,022; -26.7%) and Wellington (2,118; -34.9%).
Consents down per 1,000 residents
In terms of dwellings consented per 1,000 residents, the figures for the year ended July 2024 declined compared with the year ended July 2023 (6.4 vs 8.4).
Three regions consented above national levels: Auckland (7.9), Otago (8.3) and Canterbury (10.1).
Non-residential building consents down
In the year ended July 2024, non- residential building consents totalled $8.9bn, down 12% from the year ended July 2023. The building types with the highest value were:
- Offices, administration and public transport buildings – $1.6bn (-0.3%).
- Storage buildings – $1.4bn (-5.3%).
- Hospitals, nursing homes, and health buildings – $1.3bn (-22%)
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