There was a big jump in the number of new dwelling consents issued in Auckland in November, according to the latest figures from Statistics NZ.
These show that consents were issued for 1156 new homes in Auckland during November, well up on the 792 issued in October and the 966 issued in November 2015.
That helped push the total number of new dwelling consents issued throughout the country in November to 2973, which was an 11 year high.
The biggest increases in November were for apartments and townhouses/home units, with consents issued for 1886 new stand alone houses, 375 new apartments, 205 retirement village units and 507 townhouses/home units.
There were rises in the number of new dwelling consents issued in most parts of the country in November, but Wellington went against the trend, with new consents in the capital dropping to 132 from 303 in October.
Although the increase in consents will be a welcome development in Auckland, it is still falling short of the number of new homes that are needed in the region, where at least 1230 new homes need to be built each month just to keep pace with its migration-fuelled population growth.
In the 12 months to November 30,303 new homes were consented throughout the country, up 13.1% on the previous 12 months.
The total value of new dwellings consented in the 12 months to November was $10.68 billion, with another $1.88 billion of structural additions and alterations consented, taking the total value of residential building work consented $12.56 billion, up 21.5% on the previous 12 months.
However commercial building activity has been growing at a much slower rate, with $411 million of non-residential building work consented in November, taking the total value of non-residential consents to $5.98 billion for the 12 months to November, which was up 3.2% compared to the previous 12 months.
In the 12 months to November consents were issued for 2,726,000 square metres of non-residential buidlings which was down 18.7% on the previous 12 months.
That was mainly due to a decline in the number of industrial buildings such as factories and warehouses that were consented, with the value of such work falling to $456 million in the 12 months to November from $535 million in the previous 12 months.
You can receive all of our property articles automatically by subscribing to our free email Property Newsletter. This will deliver all of our property-related articles, including auction results and interest rate updates, directly to your in-box 3-5 times a week. We don’t share your details with third parties and you can unsubscribe at any time. To subscribe just click on this link, scroll down to “Property email newsletter”and enter your email address.