Housing consents down 12%, as sector faces higher build costs

Wed, 30 Nov 2022

New home consents started to tail off last month, down 12% year-on-year and signalling the first break in a two-year cycle of record growth which, in May, saw annual consents hit more than 51,000 units.Stats NZ said consents for standalone homes were down more than a quarter to 1,541. Apartments, at 239 approvals, were down 28%, and planned retirement village units were down 32% at 139 units. The exception to the downtrend was the continued increase in the number of consented townhouses and units, up 17% to 1,649, bringing the total number...

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