The Labour Party has described the latest building consent figures for Auckland tragic.
Its housing spokesperson, Phil Twyford, says data issued by Statistics New Zealand shows Auckland building consents have declined for two months in a row.
He said the number granted in January was less than half the number in November, dropping from 967 to 482.
"When you put these numbers together with the fact that we have record immigration at the moment, banks are falling over themselves to offer mortgage finance and we've got rampant property speculation.
"What it means is that under National's policies Auckland property prices are going to continue to go up and up."
Mr Twyford said new home building in Auckland had not only stalled but was going backwards.
But the Minister for Building and Housing, Nick Smith, said the claim did not take into account holidays and other factors.
He said the January consent figures were the highest in seven years.
"Everybody knows that there's a week's holiday in December, a couple of weeks' holiday in January.
"Every year since the last 50 there have been a decline in the number of consents in January. What's more important is to compare January with the previous years."
He said the January consent figures were the highest in seven years.
