New Zealand Building Permits Sink 8.8% In January

(RTTNews) - The total number of building consents issued in New Zealand was down a seasonally adjusted 8.8 percent on month in January, Statistics New Zealand said on Friday - coming in at 1,991.

That follows the downwardly revised 3.6 percent increase in December (originally 3.7 percent).

Individually, permits were issued for 899 stand-alone houses; 899 townhouses, flats, and units; 123 apartments; and 70 retirement village units.

In the year ended January 2024, the actual number of new dwellings consented was 36,453, down 26 percent from the year ended January 2023.

The annual value of non-residential building work consented was NZ$9.9 billion, up 4.0 percent from the year ended January 2023.