NZ building consents at 6-year high

Friday 2 May 2014

Housing consents in New Zealand hit a six-year high in March, but while construction in Canterbury is steaming away, economists say Auckland is still under-building. Overall residential consents including apartments were up 8.3 per cent on the previous month.

Excluding apartments, dwelling consents were up a more muted 1.3 per cent, although that was still 24 per cent higher than in March last year. Some 1813 houses were given approval, the highest monthly tally since November 2007.

Economists put the rise in consents down to a seasonal lift, helped along by the apartment market which had been a little soft recently. ASB economist Christine Leung said if the volatile apartment market was excluded, dwelling consents had "actually been holding up pretty well".

Source: Fairfax NZ News

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