29 Jul 2011

Building consents fall in June

12:41 pm on 29 July 2011

The number of building consents issued fell in June, driven mainly by low consent issues in the Canterbury region.

Consents for new dwellings, excluding apartments, fell by a seasonally-adjusted 4.5% in June, the first drop in three months, Statistics New Zealand figures show.

Consents for new homes are almost 30% lower than at the same time last year.

ASB economist Jane Turner says she does not expect a pick up in reconstruction acitivity until the beginning of 2012.

The value of consents issued for residential buildings in June was $360 million, down 29% from a year ago.

The value of non-residential buildings increased about 4% to $237 million.