New Zealand Building Permits Tumble 10.7% In October

The total number of building permits issued in New Zealand was down a seasonally adjusted 10.7 percent on month in October, Statistics New Zealand said on Wednesday - standing at 3,568.

That follows the downwardly revised 3.6 percent monthly increase in September (originally 3.8 percent).

Individually, consents were issued last month for 1,649 townhouses, flats, and units; 1,541 stand-alone houses; 239 apartments; and 139 retirement village units.

In the year ended October 2022, the actual number of new dwellings consented was 50,252, up 5.1 percent from the year ended October 2021.

The annual value of non-residential building work consented was NZ$9.4 billion, up 15 percent from the year ended October 2021.

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