NZ home building consents fall 0.6 percent in Oct in first month of loan restrictions

Thu, 28 Nov 2013

By Paul McBeth Nov. 29 (BusinessDesk) – The appetite for building new homes slowed in October, the first month the Reserve Bank’s restrictions on low deposit mortgage lending kicked in. New dwelling consents, including apartments, fell to a seasonally adjusted 1,751 in October from 1,762 a month earlier, according to Statistics New Zealand. Stripping out apartments, which can cause monthly volatility, consents fell 2.3 percent to 1,588 from September. That’s the biggest monthly decline since July last year. Unadjusted, residential building...

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