Building consents slump to 20-year low

The number of new homes being authorised has slumped to the lowest level in more than 20 years.

Building statistics released today show there were just 1127 housing units consents last month, the lowest monthly total since January 1987.

There were 126 new apartment units among those.

The number of authorised new housing units had fallen 49 per cent since the June 2007 peak, Statistics New Zealand said.

For the year ended December 2008, there were 18,456 new housing units authorised, down 7134 from the previous year.

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Posted: 30 Jan 2009

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