Building consents flatten, prices rise but construction carries on

Consents fell by 1.6% in August after rising 4.9% in July and monthly numbers have been effectively flat for a year.

There were 4,547 new dwelling consents issued in August – not much different from the 4,508 consented in August last year.

In the August year, new consents were 50,653, up 8.9% from the year ended August 2021.

There is a rotation away from standalone houses and towards medium density developments, such as apartments and townhouses. Just over 1,900 standalone houses were consented, bringing the yearly total to 23,060, down 8.9% compared to the previous 12 months.