Seasonally adjusted series
Movements in the monthly series for seasonally adjusted dwelling numbers for March to June 2008 should be treated with caution. During this period, these series exhibited greater variability than usual. This was due to the high number of dwellings, particularly apartments, authorised in April 2008, and because of the impact of Easter being in March this year instead of April.
Residential buildings
In October 2008, consents were issued for:
- 1,173 new dwelling units, including apartments, the lowest monthly total since January 1992 (when there were 1,166 new dwellings authorised)
- 1,123 new dwellings, excluding apartments
- 50 new apartment units, and apart from March 2008, this is the lowest monthly total since April 2000 (when there were 40 new apartments authorised).
Apartments contributed 4 percent to the number of new dwellings authorised in October 2008, compared with a monthly average of 11 percent for the previous 12 months.
In October 2008, the seasonally adjusted number of authorised new dwellings excluding apartments fell 7.1 percent. When apartments are included, the number fell 22 percent due to the low number of apartments authorised in October 2008.
For the year ended October 2008 compared with the previous October year, the authorised number of:
- new dwellings, including apartments, fell 22 percent
- new dwellings, excluding apartments, fell 24 percent
- apartments fell 6 percent.
The value of authorised residential building consents was $439 million in October 2008 (a decrease of 32 percent compared with October 2007). The trend has been falling since the peak in June 2007, and is at its lowest level since May 2002.
For the year ended October 2008, residential building consents valued at $6,580 million were issued, a decrease of 15 percent from the October 2007 year.
---PDF BREAK---
Regional residential results
In 15 of New Zealand's 16 regions, fewer new dwelling units were authorised in October 2008 than in October 2007; more new dwellings were authorised in Tasman. Numbers fell by 681 units (47 percent) in the North Island and by 233 units (37 percent) in the South Island.
The largest regional decreases were:
- Auckland, down 256 units or 56 percent
- Canterbury, down 193 units or 49 percent.
Non-residential buildings
The value of authorised non-residential building consents was $348 million in October 2008, a decrease of 14 percent compared with October 2007. Six of the 11 building types recorded decreases in the value of consents compared with October 2007.
For October 2008 compared with October 2007, the largest decreases were:
- hotels and other short-term accommodation, down $54 million
- offices and administration buildings, down $25 million
- storage buildings, down $22 million.
These decreases were partly offset by education buildings, up $32 million, and hospitals and nursing homes, up $25 million.
The two largest contributors to the value of consents authorised in October 2008 were offices and administration buildings, at 21 percent, followed by education buildings, at 17 percent.
For the year ended October 2008, non-residential building consents valued at $4,475 million were issued, an increase of 7.2 percent from the October 2007 year.
All buildings
In October 2008, the value of consents issued for all buildings was $788 million, a decrease of 25 percent compared with October 2007.
Residential buildings contributed 56 percent to the total value of all buildings in October 2008, while non-residential buildings contributed 44 percent. For the previous 12 months, the average monthly contribution of residential buildings was 60 percent.
For the year ended October 2008, the total value of consents issued for all buildings was $11,055 million, down $892 million (7.5 percent) from the October 2007 year. For the latest year, the value of consents issued for residential buildings fell $1,192 million (15 percent), while the value for non-residential buildings rose $301 million (7.2 percent).
For technical information contact:
Tina Waterhouse or Bill Humphrey
Christchurch 03 964 8700
Email: info@stats.govt.nz
Next release ...
Building Consents Issued: November 2008 will be released on 14 January 2009.