Consents trending down

Statistics New Zealand’s latest data shows that, nationally, the trend for the number of new dwellings consented decreased 15% in the five months to January 2017.

This comes after the consent trend reached a 12-year high in August 2016.

While the seasonally adjusted number of new homes consented rose 0.8% in January this followed falls of 7.9% in December and 8.9% in November 2016.

Statistics New Zealand business indicators senior manager Neil Kelly said the trend excludes monthly volatility to give a clearer picture of underlying changes in home building intentions.