Home consents down 25%, off record highs

A sizeable downturn in building activity is expected this year. (Image: BusinessDesk)

Fri, 02 Feb 2024

Home consents worth $1.1 billion were granted in December. The 2,487 home consents took the annual total to 37,239, down a quarter on the record 49,538 granted in 2022.Statistics New Zealand said that also reflected an annual drop of 43% in apartment consents at 2,518, the lowest level in seven years. Stats NZ said 15,675 stand-alone houses (down 27%), 16,779 multi-unit homes (down 19%) and 2,267 retirement village units (down 23%) were signed off for the year.Construction and property statistics manager Michael Heslop said it was the firs...

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