TWO YEAR HIGH FOR NEW ZEALAND BUILDING CONSENTS

 

Growing demand for new housing in Auckland and Christchurch has helped residential building consents in New Zealand rise to its highest monthly level in two years. The month of March saw building consents rise by 43% to 1,394, worth $415 million, with Auckland’s increase the most significant at 511 compared to a lowly 298 a year earlier. Canterbury, now getting its rebuild underway, saw its three-month figures rise to an annual level of 3000 new dwellings. The data noted earthquake-related consents totalled $28 million in March, with $9 million of this for residential buildings and the remaining $19 million for non-residential buildings. Since February 2012, WOR has followed 1026 residential projects ($400,000+) that have gone under construction, while many projects that have been on hold (particularly due to the Earthquake and re-zoning) are underway again – backing up the signs of an industry revival.

Source: New Zealand Herald, 30 April 2012 (BL & AL)

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