By continuing to use the site you agree to our Privacy & Cookies policy

Your browser seems to have cookies disabled. For the best experience of this website, please enable cookies in your browser.


Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.


End of boom? New Zealand housing activity peaks

New Zealand’s housing boom may have reached its peak, according to economics experts in the country

Statistics New Zealand said the trend for the number of new dwelling consents, excluding apartments, ‘appears to be flattening’.

It follows steady growth in the trend figure – which ignores seasonal fluctuations and statistical outliers – for more than two years.

The figures rose by 64 per cent between March 2011 and May 2013 but has since nudged up by just 0.3 per cent in the last three months.

‘Following a sustained rise from 2011 to 2013, the trend for new houses seems to have levelled off,’ industry and labour statistics manager Tehseen Islam said.

Of the 1,760 homes approved for construction in New Zealand, 503 will be in Auckland and 469 in Canterbury.

Earthquake-related building consents in Canterbury were valued at $59 million (£30m) in August, down slightly from $62m in July.

The value of consents for all work on all buildings was $1.0 billion in August – up 14 per cent from the same month the previous year.

AJ reported this summer that home building in New Zealand had seen its biggest quarter of growth in a decade.

The seasonally adjusted value of residential construction work in the first three months of this year was NZ$1.8bn.

Have your say

You must sign in to make a comment.

Related Jobs

Sign in to see the latest jobs relevant to you!

The searchable digital buildings archive with drawings from more than 1,500 projects

AJ newsletters