- Prior month 2.6% revised to 2.4%
- New Zealand October Building consents -5.2%
Details
Key Facts
- Seasonal Trends: New dwellings consented decreased by 5.2% in October 2024 (seasonally adjusted), following a 2.4% rise in September 2024.
- Annual Totals:
- 33,467 new dwellings consented in the year ended October 2024, a 16% decrease from the year ended October 2023.
- The annual value of non-residential building work consented was $9.3 billion, a 3.5% decrease from the previous year.
- Dwellings per Capita:
- 6.3 new dwellings per 1,000 residents were consented in the year ended October 2024, compared to 7.6 per 1,000 in October 2023.
New Dwellings Consented in October 2024
A total of 2,850 new dwellings were consented, comprising:
- 1,363 stand-alone houses
- 1,174 townhouses, flats, and units
- 183 apartments
- 130 retirement village units
Monthly Variability
- The number of dwellings consented can fluctuate significantly each month due to the timing of large multi-dwelling projects, such as townhouses and apartment buildings.
New Dwellings Consented Per 1,000 Residents
- 2024 vs. 2023:
- 6.3 dwellings per 1,000 residents in the year ended October 2024, compared to 7.6 per 1,000 in October 2023.
- Historical Context:
- The record high was 13.4 dwellings per 1,000 residents in the year ended December 1973.
Non-Residential Building Consents
- Annual Value:
- Non-residential building consents totaled $9.3 billion in the year ended October 2024, a 3.5% decrease from October 2023.
- This decrease was partly influenced by rising non-residential construction prices, which were up 3.2% in the year ended September 2024 (as per the capital goods price index).
- Top Non-Residential Building Types (2024):
- Offices, Administration, and Public Transport Buildings:
- Valued at $1.8 billion, an increase of 26%.
- Hospitals, Nursing Homes, and Health Buildings:
- Valued at $1.4 billion, a decline of 6.8%.
- Storage Buildings:
- Valued at $1.3 billion, a decline of 13%.
- Offices, Administration, and Public Transport Buildings:
In New Zealand, a building consent is an official approval granted by a Building Consent Authority (BCA), typically a local council, allowing specific building work to proceed on a designated site. This consent ensures that the proposed construction complies with the Building Code, confirming that the completed work will be safe, durable, and not pose health risks to occupants