Estimate of New Dwelling Units - July 1999
Surge in New Dwelling Units
The estimated number of new dwelling units authorised for construction in July 1999 has risen dramatically compared to
recent months, due to a large number of consents for apartment units. The estimated number of new dwellings authorised
in July was 2,504 and is the highest monthly total since September 1997. Consents for apartment units contributed an
estimated 614 units to the new dwelling total, with a particularly large number issued in Auckland and Manukau.
Queenstown-Lakes District has recorded its highest monthly total since June 1997, with 33 new dwellings authorised in
July. This is in line with a general increase in residential building activity in that region in recent months.
Wellington has also recorded its highest total since July 1998 with 174 new units, mostly due to several consents for
106 apartments. Residential building in Wellington has been flat over the last year, with only three monthly totals over
100 units. Hastings recorded a total of 54 which is the highest monthly total since December 1996.
Investment in residential buildings has been high over the last five months after consistently low monthly totals
throughout 1998. Residential property is traditionally a popular form of investment, and this may well be encouraged by
sustained low interest rates.
Deputy Government Statistician
18 August 1999