KEY POINTS:
The number of consents issued for new houses continues to trend upwards but at a slower pace than earlier this year, Statistics New Zealand (SNZ) says.
Data out today showed 2465 new housing units authorised in August, 28 units more than in August 2006.
Excluding apartments, 2212 new housing units were authorised last month, 41 units more than a year earlier.
In seasonally adjusted terms, the number of new dwelling units was up 5.8 per cent in August, following decreases of 15.5 per cent in July and a rise of 13.7 per cent in June.
The value of consents issued for residential buildings was $753 million, 8.5 per cent higher than in August 2006, SNZ said.
The trend for the number of new housing units had been increasing since January, with that for the value of residential buildings increasing since December. In both cases the trend had slowed in recent months.
The continuing rise in building consents comes despite efforts by the Reserve Bank to slow the economy with four interest rate rises this year, lifting the official cash rate by 1 percentage point in total.
A slowdown in housing market activity has also been reported in recent months.
For the year to August, the number of consents was up 2.9 per cent from a year earlier to 26,581.
The value of consents issued for non-residential buildings in August was $398 million, 8.5 per cent higher than a year ago.
The trend for the value of non-residential building consents remained at a high level, SNZ said.
The value of all consents authorised in August was $1.15 billion up 8.5 per cent from $1.06 billion.
For the year, the total value of consents issued was up 7.5 per cent to $12 billion, with the value of residential consents up 11 per cent to $7.86 billion and that for non-residential consents up 0.9 per cent to $4.13 billion.
In the Auckland region 681 consents were issued in August, the most since last October, excluding June when numbers were affected by builders rushing to get applications through before some territorial authorities increased fees on July 1.
Northland with 148 was at its highest level since November, while both Taranaki and Manawatu-Wanganui had strong months.
- NZPA
