The pace of New Zealand residential building issuance slowed last month, even as demand increased for new housing in the country's biggest city, Auckland.
Building consents excluding volatile apartment figures climbed 22 per cent to 1,092 worth $334 million in April from the same month a year earlier, according to Statistics New Zealand. They were down from 1,394 consents worth $415 million in March.
Including apartments, there were 1,230 new consents worth $364 million in April.
Auckland reported the biggest rate of new issuance, with 360 new dwellings, of which 62 were apartments, compared to 259 a year earlier.
"The underlying trend in dwelling consent issuance remains one of a recovery, albeit at a gradual pace," ASB economist Christina Leung said in a note.