NZ building consents rise 1.9 percent in August, third straight gain

Friday 28th September 2012

New Zealand consents to build new homes rose for a third straight month in August, driven by rebuilding activity in Christchurch.

Consents rose 1.9 percent in August, seasonally adjusted, from the previous month and were up 1.8 percent compared to August 2011, according to Statistics New Zealand.

The building consents add to evidence the rebuild of Christchurch after its series of earthquakes is starting to stoke economic activity.

Compared to the same month last year, the total number of new dwellings consented rose by 121 to 629 in the South Island while those in the North Island dropped 116 to 884.

Consents in Canterbury deemed to be earthquake related were valued at $47 million last month, of which $24 million were residential. That's down from $59 million in July but still one of the largest months this year.

Including apartments, consents for new dwellings rose 0.3 percent to 1,513 from the same month last year. Excluding apartments, the gain was 3.2 percent to 1,373. Apartments fell to 140 from 179.

Total residential consents rose 13 percent to $548 million in August from a year earlier. Non-residential consents rose 24 percent to $343 million.

The value of all building work for the year ended Aug. 31 rose 10 percent to $9.47 billion.

BusinessDesk.co.nz

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