New Zealand Building Permits Slide 4.1% In June

The total number of building permits in New Zealand issued in June declined a seasonally adjusted 4.1 percent on month, Statistics New Zealand said on Thursday – coming in at 2,042.

That follows the flat monthly reading in May, and it also was up 2.0 percent on year.

The actual value of building work consented in June was NZ$1.3 billion.

For June 2015 compared with June 2014, residential work was up NZ$53 million (6.7 percent) to NZ$832 million, while non-residential work was down NZ$37 million (7.5 percent) to NZ$454 million.

By region, permits in Auckland were up 105 (18 percent) to 704. In Canterbury, they were down 79 (13 percent) to 544.

“New dwelling consents growth this month was led by Auckland, which offset the fall in Canterbury,” said business indicators manager Clara Eatherley.

More homes were consented in the first six months of 2015 than a year previously. Between January and June 2015, there were consents for 12,057 new dwellings, worth almost NZ$4 billion.

“The new building consent figures show the total floor area for the dwellings consented was 221 hectares. This means that enough new homes were consented in the first half of 2015 to cover an area twice the size of Wellington Airport,” Eatherley said.

The material has been provided by InstaForex Company –