New Dwellings Approvals Remain at Lower Levels

Building Consents Issued: October 2000

New Dwellings Approvals Remain at Lower Levels

There were 1,585 new dwelling units authorised in October 2000, latest Statistics New Zealand figures show. The number of new dwelling units has settled at a lower level since January 2000. Between January and October 2000 the number of dwelling consents has generally ranged between 1,400 and 1,800 per month. By comparison, between March and November 1999 the number of new dwelling units authorised each month was consistently over 2000. In recent months a lower level of activity has also been reported within the residential real estate market.

Lower numbers of new dwelling units authorised have been recorded in the greater Auckland and Wellington regions. The number authorised decreased by 19.6 per cent in the greater Auckland region between September and October 2000. This is similar to the decrease of 19.0 per cent in the greater Wellington region for the same period.

In October 2000 the value of consents issued for non-residential buildings was $217.1 million. Consents for offices and administration buildings contributed $63.5 million of this total. The value of consents issued for non-residential buildings in August 2000 and September 2000 was $273.2 million and $174.4 million respectively. As the monthly value of consents issued for non-residential buildings can be influenced by individual high value projects, caution needs to be exercised when interpreting month on month comparisons.

Ian Ewing DEPUTY GOVERNMENT STATISTICIAN END

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