Housing consents bounce
Housing consents bounced back in September, jumping 12.9% to 2,420 worth $386.2 million.
Tuesday, October 29th 2002, 7:20AM
by Jenny Ruth
The increase follows a14.9% decline in August from July.
But in both months the numbers were skewed by volatility in apartment approvals. These have gone from 686 in July, down to just 232 in August and back up to 485 in September.
Statistics New Zealand says the five largest consents for new apartment units accounted for 62% of the total apartments approved in September.
It also says the mean monthly number of apartment approvals was 300 in the year ended September, up from about 195 a month in the previous year.
Darren Gibbs, senior economist at Deutsche Bank, says just under half the latest month’s apartment approvals may have related to a single Auckland project that has been re-filed after the original project fell through.
The government statistician says the trend for all housing consents has been increasing since November 2000.
It says the key Auckland region continues to be the main contributor to housing consents, accounting for 43% in September, up from 40% in August. Compared with September last year, Auckland consents were up 424.
In the year ended September, there were 24,448 dwellings worth $3.98 billion approved, up from 19,533 worth $2.93 billion.
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