Consents for new residential buildings are down 11%

The number was number was down from the record high of 51,015 new homes consented in the year ended May, 2022. (Image: BusinessDesk)

Staff reporters

Mon, 03 Jul 2023

The economic downturn is continuing to drive down activity in the residential building sector.Statistics New Zealand said 45,159 new homes were consented in the May year, down 11% year on year.Michael Heslop, construction and property statistics manager, said the latest annual number was down from the record high of 51,015 new homes consented in the year ended May, 2022, but numbers were now at a similar level to the same period in 2021, he noted.The 45,159 new residences comprise standalone and multi-unit and townhouse homes. Drop-off in...

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