Building consents at four-year high
Home building is surging, with the number of consents issued last month hitting its highest level in more than four years.
Statistics New Zealand industry and labour statistics manager Blair Cardno said 1639 new houses were consented in October, the highest number since May 2008.
"When we compare these figures with the same time last year, the number of new houses in October increased 32 per cent," Cardno said.
"There is a clear trend over the last 19 months, which shows an increase in new houses, both including and excluding apartments."
Excluding apartments, 1471 new houses were consented last month – an increase on October 2011 of 28 per cent.
Statistics said 168 new apartments were approved last month, up from 89 in October last year.
Canterbury led the new homes charge, with consents there up 122 on a year ago. On a seasonally adjusted basis, the number of new houses – including apartments – decreased by 1.5 per cent last month after increasingly moderately in September. Excluding apartments, the seasonally adjusted number of new houses fell by 2 per cent.
The value of earthquake-related building consents in Canterbury last month totalled $52 million.
The value of non-residential building consents last month was $392m, up 42 per cent year-on-year.