6/02/2011

The number of permits for new houses in New Zealand fell by a third in April from the year before

The number of permits for new houses in New Zealand fell by a third in April from the year before, the government statistics agency announced Friday.
Just 893 new homes, excluding apartments, were authorized, down 32 percent from April last year, said a statement from Statistics New Zealand.
These figures were consistent with the longer-term trend, which showed approvals for new houses had fallen by almost a third since March 2010, but data for recent months showed the rate of decline easing, said the statement.
"While the overall level of consents is low, with many series still decreasing, there are signs that the decline in residential building consents is easing," business statistics manager Kathy Connolly said.
"When the volatile apartment numbers are excluded, and after adjusting for seasonal factors, there have been increases of more than 3 percent in each of the latest two months."
For new homes authorized, including apartments, the picture was similar. In April, 927 new homes were authorized, down 34 percent from April 2010.
The trend had fallen almost one-third since April 2010, to the lowest level since 1982.
The seasonally adjusted number fell 1.6 percent, following a 2 percent rise in March.
The largest fall was in Canterbury, where an earthquake in February killed at least 181 people, with 68 fewer new homes, but similar-sized falls were seen elsewhere.
The value of consents issued for residential buildings was 354 million NZ dollars (288.72 million U.S. dollars) in April, down 26 percent compared with April 2010. The value of non-residential buildings fell 23 percent to 252 million NZ dollars.

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