Opinion

NZ housing consent levels unsustainable, bust signs ahead

Cameron Bagrie
Sat, 02 Jul 2022

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)
Cameron Bagrie
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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