New townhouses keep building consents high

The total value of new building work consented for the July year was $31.571 billion, up 16.9% compared to the previous 12 months.

In the July year 50,614 new homes were consented, up 12% from the previous year.

The value of new consented residential building during the July year was $22.585 billion, up 18% on the previous 12 months.

Although figures suggest there is another 18 months to two years of work in the pipeline for builders, there has been a noticeable slow-down in stand-alone houses being built, with buyers opting for townhouses because they are perceived as more affordable.