New Zealand Building Permits Sink 7.2% In December

The total number of building permits issued in New Zealand was down a seasonally adjusted 7.2 percent on month in December, Statistics New Zealand said on Thursday - coming in at 3,457.

Individually, permits were issued for 1,382 townhouses, flats, and units; 1,378 stand-alone houses; 460 apartments; and 237 retirement village units.

The seasonally adjusted number of new stand-alone houses consented fell 5.3 percent, after rising 4.7 percent in November 2022.

In the December 2022 quarter, the seasonally adjusted number of new homes consented fell 8.5 percent, after rising 0.9 percent in the September 2022 quarter.

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