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New apartment consents hits record in October


Wednesday 27th November 2002

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Consents issued for new apartments to be built more than doubled to a record 1526 in October, despite concerns about leaky buildings which centred on new apartments.

The work on new apartments was valued at $119.7 million in October, compared with 485 consents for new apartments in September worth $42.1 million, according to Statistics New Zealand.

Eleven consents were issued for new apartment units valued at $3 million each or more in October, contributing 71 percent of the new apartment total value.

For the year ended October, consents were issued for 5048 new apartments, up 2614 or 107 percent compared with the previous October year, Statistics NZ said.

Consents were issued for a total of 3412 new dwelling units in the month, the largest monthly total since March 1976.

Auckland contributed 57 percent of consents issued for new dwelling units in October, mostly apartments, with the numbers of new dwellings increasing steadily since December 2000.

The value of non-residential building consents issued in October totalled $177 million, with consents for shops, restaurants and taverns worth $43 million.

Consents issued for factories and industrial buildings contributed $29 million, or 17 percent, to the total, Statistics NZ said.

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