Building work to stay elevated with residential permits at 45-year high

Fri, 30 Aug 2019

By Paul McBeth Aug. 30 (BusinessDesk) - Economists expect construction work will stay elevated over the next year or two as the number of new residential building permits remain at 45-year highs and may get a tailwind from cheaper finance. Some 35,472 residential building consents were issued in the year ended July 31, up 8 percent from a year earlier and the most since February 1974 when a record 40,025 permits were signed off, Stats NZ figures show. Those permits cover 5.8 million square metres at a value of $13.21 billion, up 2.7 perc...

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