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New Zealand building consents rose 5.7% mom in Feb

New Zealand building consents rose 5.7% mom in February verusus 0.0% mom in January.

Key facts from noted in the release:

  • The seasonally adjusted number of new dwellings consented rose 5.7%.
  • In the year ended February 2018, 31,245 new dwellings were consented, up 3.6%.
  • The annual value of building work consented was $20.4 billion, up 9.9% from the February 2017 year.

Regional numbers of new dwellings consented in the February 2018 year were:

  • Auckland – up 10% to 11,052
  • Waikato – down 1.2% to 3,469
  • Wellington – up 20% to 2,432
  • Rest of North Island – up 0.6% to 5,794
  • Canterbury – down 14% to 4,962
  • Rest of South Island – up 17% to 3,532 – driven by Otago

All building consents

Including alterations, the value of all building work consented in the year ended February 2018 was $20.4 billion, comprising $13.7 billion of residential work and $6.8 million of non-residential work. The annual total value rose 9.9 percent when compared with the February 2017 year.

Full release here.

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