Global Economic News

New Zealand Building Permits Jump 16.3% In June

The total number or building permits in New Zealand issued in June surged a seasonally adjusted 16.3 percent on month, Statistics New Zealand said on Friday - coming in at 2,752.

That follows the 0.9 percent decline in May.

Individually, permits were issued for 1,863 houses, 364 townhouses, flats, and units, 289 retirement village units and 236 apartments.

The actual value of building work consented in June was NZ$1.8 billion. Residential work was up NZ$249 million (30 percent) to NZ$1.1 billion, while non-residential work was up NZ$285 million (63 percent) to NZ$739 million.

"Auckland and surrounding regions were the main contributors to this growth. Canterbury's total decreased over the year, but remains at a historically high level," business indicators manager Clara Eatherley said.

There were 9,651 homes consented in Auckland in the latest June year, up 16 percent on the 2015 year.

The value of non-residential building consents rose 15 percent to reach NZ$6.1 billion in the June 2016 year. Auckland was the largest driver of this increase, followed by Canterbury.

by RTTNews Staff Writer

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