New zealand construction hits seven-year high

Photo: Jaafar Alnasser Photgraphy

Construction of homes in New Zealand has reached a seven-year high, according to the latest official figures. Data from Statistics New Zealand show that building consents for new dwellings totalled 2,420 in November 2014, including 474 apartments.

The seasonally adjusted number of new dwellings consented increased 10 per cent in November - and, excluding apartments, by 2.1 per cent.

The trend has shown little Change in recent months, after generally increasing since the historic low in March 2011. Nonetheless, November's figures mark the highest since August 2007. $1.3 billion of building work was consented – $867 million of residential work and $426 million of non-residential work.

"November is typically a strong month for new dwelling consents," says business indicators manager Clara Eatherley. “Auckland and Canterbury regions contributed the most to this high number.”

Indeed, 967 consents were issued in Auckland, while 726 consents were issued in Canterbury. Together the regions accounted for 70 per cent of building activity.