Slump in home building consents in November

The value of non-residential building work reached an 18-month high during November, against a slump in activity across the residential sector.

Latest figures from Statistics New Zealand (SNZ) show the value of consents issued for non-residential buildings was $479 million during November, up 23 per cent on the same period in 2009.

The main contributors were education buildings, factories and industrial buildings, SNZ said.

The value of residential buildings fell by 4.4 per cent to $514 million across the same period.

The seasonally adjusted number of new housing units authorised, excluding apartments, fell 2.6 per cent in November 2010, the fifth consecutive monthly fall.

When the volatile apartment category was included, the number of new housing units authorised rose 8.8 per cent, following a 1.8 per cent fall in October 2010.

To read the full NZ Herald article, click here

Posted: 11 Jan 2011

News articles