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Tony Alexander BNZ Economist ‘Weekly Overview Report’ 3rd March 2016

By Julie Halligan

Construction of dwellings in New Zealand is rising with consents for 27,124 dwellings issued in the year to
January ahead 9.9% from a year earlier and 95% higher than in the year to January 2012. But there are big
variations around the country. In Canterbury consents have fallen by 13% this past year to sit at 6,311 from
7,255 a year ago. This is still well above the 23 year average of 3,700 but in the three months to January
numbers were 25% down from a year ago. So things are falling away quite quickly now that a lot of the postearthquake
construction is done.
In Auckland there is in contrast good growth – though not enough to make many people think that the
shortage is going to radically improve let alone disappear in the next few years. In the year to January in
Auckland consents for the construction of 9,275 dwellings were issued. This makes for a 22% rise from a
year before but in the three months to January growth was less than that at 16.4% from a year ago. So
maybe growth is slowing a tad. Average consents issued per annum for the past 23 years total 7,400….”

for the full report from Tony Alexander please follow this link;Tony Alexander 3rd March 2016

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