New Zealand Building Consents Jump 8.7% In October

(RTTNews) - The total number of building permits issued in New Zealand was up a seasonally adjusted 8.7 percent on month in October, Statistics New Zealand said on Thursday - coming in at 3,060.

That beat forecasts for an increase of 5.0 percent following the 4.6 percent contraction in September.

In October, permits were issued for 1,380 townhouses, flats and units; 1,255 stand-alone houses; 241 apartments; and 184 retirement villages.

In the year ended October 2023, the actual number of new dwellings consented was 39,900, down 21 percent from the year ended October 2022.

The annual value of non-residential building work consented was $9.7 billion, up 3.0 percent from the year ended October 2022.