Building consents surged 26% in July 2024 on a monthly basis in New Zealand coming in at 3,352, according to figures released by Stats NZ today. This follows a downwardly revised 17.0 percent contraction in June 2024 (originally a 13.8 percent decline). Consents were issued for 1,685 stand-alone houses, 1,333 townhouses, flats, and units, 234 retirement village units and 100 apartments.
The number of homes consented each month can vary significantly due to the timing of large projects.
In the year ended July 2024, there were 33,921 new homes consented, down 22 percent from the year ended July 2023. “The number of homes consented was down 22 percent on an annual basis, despite an increase in the July 2024 month,” construction and property statistics manager Michael Heslop said.
Individually, consents were issued for 18,503 multi-unit homes, down 28 percent compared with the year ended July 2023. There were 15,418 stand-alone houses consented, down 14 percent over the same period. Multi-unit homes include townhouses, apartments, retirement village units, and flats.
In the year ended July 2024, all regions consented fewer new homes compared with the year ended July 2023. The four regions with the highest number of new homes consented in the year ended July 2024 were: Auckland with 13,662 (down 27 percent compared with the year ended July 2023), Canterbury with 6,762 (down 12 percent), Waikato with 3,022 (down 27 percent) and Wellington with 2,118 (down 35 percent).
There were 23 working days in July 2024 compared with 20 in July 2023. More working days in a month means more time for building consent authorities to issue consents for new homes.
Building Permits in New Zealand averaged 2254.01 Units from 1995 until 2024, reaching an all time high of 4519.00 Units in March of 2022 and a record low of 992.00 Units in January of 2009.
The annual value of non-residential building work consented was NZ$8.9 billion, down 12 percent from the year ended July 2023.
