Building consents top $2 billion for the first time

Published: Fri 28 Apr 2017 10:53 AM
Building consents top $2 billion for the first time
28 April 2017
Building consents reached a record $2 billion in March 2017, boosted by new homes and several big non-residential projects, Stats NZ said today. This was up 37 percent compared with March 2016.
The $2 billion of planned building work comprised:
• $1.2 billion for new homes and residential alterations
• $837 million for offices, hotels, hospitals, shops, and other non-residential buildings.
All three values were record highs, however, these values are not adjusted for inflation.
Home consents down slightly following February surge
In March 2017, the seasonally adjusted number of new homes consented fell 1.8 percent from February, when the number surged 17 percent.
In actual terms, a total of 2,779 new homes were consented, up 20 percent compared with March 2016.
Over the 12 months to March, 30,626 new homes were consented, up 10 percent from the previous March year. This included 10,199 new homes in Auckland.
Non-residential consents hit $837 million
The value of non-residential consents in March was $837 million (up $377 million from March 2016).
“A consent for the Park Hyatt Hotel in Auckland helped boost the value of non-residential consents to its highest-ever level,” business indicators senior manager Neil Kelly said. “This month’s spike in commercial consents shows there’s still quite a bit of building work in the pipeline.”
The $837 million of planned non-residential building work included:
• $191 million for offices, administation, and public transport buildings (up $92 million from March 2016)
• $167 million for hotels, motels, and other short-term accommodation (up $141 million)
• $104 million for hospitals, nursing homes, and other health buildings (up $68 million)
• $102 million for shops, restaurants, and bars (up $61 million).
For more information about these statistics:
• Visit Building Consents Issued: March 2017
• See CSV files for download

Next in Business, Science, and Tech

Time to Double-Down on Cutting CEO Salaries
By: Closing The Gap
Govt raids PGT for $40M top-up to rural broadband roll-out
By: BusinessDesk
Auckland-Chicago named a top 10 ‘most exciting’ new route
By: Air New Zealand
ESR ups its reporting on Meningococcal disease
PGF to improve regional digital connectivity
By: New Zealand Government
PGF investment in Manawatū-Whanganui
By: New Zealand Government
PGF investment in Advanced Aviation Hub in Whanganui
By: New Zealand Government
PGF investing to expand National Driver Training Centre
By: New Zealand Government
PGF investment to fast track regional freight hub
By: New Zealand Government
$48 million Provincial Growth Fund announcements welcomed
By: Horizons Regional Council
High unemployment drives teen to transform his district
By: Horowhenua District Council
Manawatu-Whanganui PGF spending is just picking winners
By: New Zealand Taxpayers' Union
Meningococcal W – Expert Reaction
By: Science Media Centre
Increased vigilance needed for meningococcal disease
By: Ministry of Health
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media