The trend for the number of new home consents continued to rise in December 2009, Statistics New Zealand said today.
The trend for new housing has been increasing since March 2009, although the level is still lower than it was in mid 2007.
Building consents were issued for 1260 new housing units - excluding apartments - in December 2009. In the same month consents were issued for 93 new apartment units.
Residential building consents were valued at $494 million in December 2009 - an increase of 12 per cent when compared with December 2008.
The value of non-residential building consents was $404 million, an increase of 5.6 per cent on the same month in 2008.
"In 2009, consents were issued for 14,425 new homes, including apartments," said business statistics manager Louise Holmes-Oliver.
"This is the lowest number issued for a calendar year since the series began in 1996 and is due to very low numbers at the beginning of the year."
Some of the largest increases were for social, cultural and religious buildings - up $273 million - and hospitals and nursing homes with an increase of $105 million.
Bernard Doyle, New Zealand strategist for Goldman SachsJB Were, said the data was not painting a picture of vibrant recovery in residential construction.
"Our June 2010 forecast for 18,000 consents now looks hopeful, short of a sharp acceleration in construction occurring over coming months," he said.
Doyle said the non-residential consents - valued at $404 million - were a "respectable result".
"However, floor area of consents issued is still weak - down 22 per cent year-on-year. We expect a generally subdued trend for non-residential construction activity to be ongoing for some time yet," said Doyle.
