NZ housing consent levels unsustainable, bust signs ahead

How many of the record number of new home building consents will actually be built? (Image: Supplied)

Sat, 02 Jul 2022

The 51,051 new home building consents recorded in the year to May set a new record, according to Statistics NZ figures released yesterday, up 17% from the year ended May 2021.But here’s the question: how many of those homes will actually be built?A high attrition rate in association combined with a sharp decline in building consents over the coming months may well be the sector's best chance of having a soft landing, as opposed to the historical play-book of boom to bust.The residential construction sector has just three gears: fifth,...

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