Housing consents 'defy gravity', top 50,000

Housing consents 'defy gravity', top 50,000
Building pace likely to lag rampant consent levels (Image: BusinessDesk)
Brent Melville
Housing consents hit 50,858 for the 12 months to March, up by almost a quarter on the prior year and the first time New Zealand building permits breached 50,000 in any one-year period.Just under half of those, 24,475, were multi-unit and terrace homes, a 40% jump on the prior year. Stand alone house approvals rose a more sedate 12% to 25,383, Stats NZ data showed.Construction and property statistics manager Michael Heslop said it was the first time terrace and apartment consents surpassed stand alone builds.Of the combined 5,303 new homes conse...

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