Building consents slump, less so in Christchurch

In Christchurch, multi-unit builds like townhouses have become increasingly common. (Image: Brooksfield)

Fri, 12 Jan 2024

Building consents are down nationwide, but one of the three major centres is displaying much more resilience in the face of tougher economic conditions.Statistics NZ released the latest building consent figures on Thursday, revealing 38,209 homes were consented in the year to November 2023, down 24% on the prior year.The downturn in consenting activity, due largely to higher finance and construction costs, coincides with a period of high inward migration, raising concerns that demand will outstrip supply and place upward pressure on house price...

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