New Zealand Building Permits Slump 9.0% In February

The total number of building consents issued in New Zealand was down a seasonally adjusted 9.0 percent on month in February, Statistics New Zealand said on Thursday - coming in at 2,972.

That follows the downwardly revised 5.2 percent drop in January (originally -1.5 percent).

February's figure included permits for 1,303 stand-alone houses; 1,162 townhouses, flats, and units; 331 retirement village units; and 176 apartments.

In the year ended February 2023, the actual number of new dwellings consented was 48,257, down 3.3 percent from the year ended February 2022.

The annual value of non-residential building work consented was NZ$9.6 billion, up 13 percent from the year ended February 2022.

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