CONSENTS RISE-BUT CAN THE SYSTEM COPE?

Residential building consents jump 20% in July, driven by Auckland intentions.


New Zealand residential building consents jumped by a fifth in July, turning around a decline in June, and spurred by increased construction intentions in Auckland.

Seasonally adjusted consents climbed to 2525 in July, from 2096 a month earlier, according to Statistics New Zealand. Of that, house building consents gained 12% to 1710 in the month.

On an unadjusted basis, new dwelling consents rose 24% to 2824 from July 2014, led by a 54% jump in intentions to build townhouses, flats and units, and a 21% rise in new apartment permits. Dwelling consents were up 8.4% on an annual basis to 25,696.

Auckland accounted for about 40% of all new consents in July, with a total of 1116, up from 849 permits in the same month a year earlier. Canterbury was the next biggest regional contributor with 650 permits, compared to 609 in July 2014.

Link:

http://www.nbr.co.nz/article/residential-building-consents-jump-20-july-driven-auckland-intentions-b-178036

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