Unsupported browser

For a better experience please update your browser to its latest version.

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

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

End of boom? New Zealand housing activity peaks

  • Comment

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.

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.