New-build consents fall 20%

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Tue, 31 Oct 2023

New home consents fell 20% for the September year to 40,408, down from the peak of 51,015 for the 12 months to May 2022, Statistics New Zealand says.The biggest decline came over the past quarter, when 9,126 new homes were consented, down 31% on the comparable three months last year.While consents have continued to trend downwards, they are still higher than in any 12-month period before 2021, according to Stats NZ construction and property statistics manager Michael Heslop.That's been led by multi-unit home builds, which wer...

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