Multi-unit homes buck downward trend

While consents for new homes saw a decrease for the year ended March 2023, the trend in multi-unit home consents moved in the opposite direction

In the year ended March 2023, 27,256 multi-unit homes were consented, up 6.6% over the same period last year. However, there was a 23% drop in the number of stand-alone homes consented, down to 19,668, during the same 12-month period.   

Overall, there was a 7.9% reduction in the number of new homes consented (46,924) compared with the year ended March 2022. 

“The decreasing number of stand-alone houses consented has been largely offset by the growing number of multi-unit homes for most of 2022,” said Construction and Property Statistics Manager Michael Heslop. 

“However, slower growth in the number of multi-unit homes consented in 2023 has contributed to the overall annual decrease.” 

For the month of March 2023, there were 3,970 new homes consented – a drop of 25% compared with the month of March 2022.  

However, the number of homes consented in the month of March 2022 was the highest on record, and the number of homes consented in March 2023 is still the third highest ever for a March month. 

Out of the 3,970 new homes consented in March 2023, there were 1,586 stand-alone houses, 1,820 townhouses, flats and units, 327 apartments and 237 retirement village units.  

The seasonally adjusted number of new homes in March 2023 was up 7% after falling by 9.2% in February 2023.  

More snakes than ladders

Every statistical region in New Zealand experienced a decline in consents. Auckland (-5.4% to 20,312), Canterbury (-4.5% to 8,171) and the rest of the North Island (-17% to 6,275) consented the most new homes.  

Waikato (-14% to 4,511) experienced the greatest drop in consents. 

Canterbury consented the highest number of homes per 1,000 residents for the year ended March 2023 with 12.5 (down from 13.1 in the year ended March 2022). 

Auckland (12; – 0.7) consented the second-highest number of homes, while Tasman (11; +1.6) – which is included in ‘the rest of the South Island statistical region’ – consented the third most. 

West Coast (7.5; +0.5) and Marlborough (5.9; +1.5) – also grouped in with Tasman – both experienced gains. 

Gisborne (3.3), Southland (3.9) and Hawke’s Bay (4.3) consented the least.

Non-residential rises

In the year ended March 2023, non-residential building consents totalled $9.6bn, an increase of 11% compared to the year ended March 2022. The building types with the highest value were: 

• Offices, administration and public transport buildings – $1.7bn (+53% compared to the year ended March 2021). 
• Storage buildings – $1.5bn (+20%)  
• Education buildings – $1.5bn (-3.8%).