Story image

NZ building consents fall for a third month in February

31 Mar 2015

New Zealand residential building consents declined for a third month in February, as the pace of new home building slowed.

Seasonally adjusted dwelling consents, including apartments and retirement units, dropped 6.3 percent to 1,953 in February from a month earlier, accelerating from the 5.6 decline in January, according to Statistics New Zealand. Stripping out apartments, housing consents declined for the second consecutive month, down 1.4 percent to 1,685.

On an unadjusted basis, new apartment permits increased 142 percent to 160 from the same month the previous year, while clocking an annual gain of 47 percent to 3,575 approved in the year through to February. Housing consents dropped 6.1 percent to 1,598 from February a year earlier, for an annual increase of 9.1 percent to 21,191.

"The trend for new dwellings has more than doubled since March 2011," business indicators manager Neil Kelly said. "But it is now showing signs of decreasing after generally increasing for almost four years."

Reserve Bank governor Graeme Wheeler last month warned policymakers the nation's biggest city has a shortfall of between 15,000 and 20,000 properties to meet population growth, and the 7,500 annual consents for new building permits is lagging behind the 10,000 it needs to address the shortage. The central bank is concerned that an overheated property market could cause a house price bubble and lead to financial instability.

Today's figures show that Auckland consents rose 14 percent to 528 in February from the same month a year earlier. New consents for Canterbury fell 2.5 percent to 517, as the rebuild of Christchurch shifts its focus to commercial activity.

The value of residential building work permitted rose 19 percent to $769 million in February from the previous month.

Adobe, Microsoft and LinkedIn join forces to accelerate account-based experiences
“With these new account-based capabilities, marketing and sales teams will have increased alignment around the people and accounts they are engaging.” 
Winners of 2019 Adobe Experience Maker and Marketo Revvie Awards announced
The Adobe Experience Maker Awards recognise Adobe Experience Cloud customers and partners.
Adobe opens up marketing opportunities with Roku
Adobe and streaming TV platform Roku are now offering Adobe customers the ability to precisely target consumer audiences moving to over-the-top content (OTT).
Adobe Summit kicks off the future of customer experience in Las Vegas
“Today, at Adobe Summit, we unveiled significant new capabilities in Adobe Experience Cloud, including the introduction of Adobe Commerce Cloud and Marketo Engage, and general availability of Adobe Experience Platform.”
Interview: CloudBNE's world of AR, AI, and geospatial tech
“In New Zealand I used to hear, ‘we are so small; the market isn’t big enough…’ I often hear the same thing in Australia and even through parts of Asia.  Could we have launched CloudBNE in New Zealand? absolutely.”
NZ's aged care population held back by digital divide
Aged care facilities are slow to provide WiFi access for residents, and interviewees said they would like to see aged care operators provide more support.
‘Buy-now-pay-later’ taking consumer markets by storm
A new survey shows that young people are embracing this new method of purchasing, with over 1.5 million users in the last year in Australia alone.
Better data management: Whose job is it?
An Experian executive’s practical advice on how to structure data-management roles within a modern business environment.