The value of new building work being consented continued to decline in January, both on a monthly and annual basis.
According to Statistics NZ, the total value of all building work, both residential and non-residential, consented in January this year was $1.772 billion. That's down 12.1% compared to January last year.
In the 12 months to the end of January this year $26.662 billion of building work was consented, down 6.7% from $28.577 billion in the January 2024 year
And over the two years to January 2025, the value of building work consented annually has declined by $5.577 billion from $32.2 billion in the year to January 2023.
On the residential building front, 33,812 new dwellings were consented in the 12 months to January 2025. That's down from 36,453 in the 12 months to January 2024, and from 49,480 in the 12 months to January 2023.
On an annual basis 15,668 fewer homes were consented in the year to January 2025 compared to the same period two years previously.
On the non-residential front, 2.231 million square metres of new non-residential building space was consented in the 12 months to January 2025. That's down from 2.637 million square metres in the 12 months to January 2024, and down from 3.011 million square metres in the 12 months to January 2023.
Non-residential space includes commercial buildings such as shops, offices and warehouses as well as public buildings such as schools and hospitals.
Building consents - type
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3 Comments
Here's an idea:
Let's have a state housing agency that will build, own, and manage 100,000 homes for secure, lifetime, income-moderated rent by all who want them.
That might spark up the economy.
Is that you, Jacinda ?
This has fallen below the 35,000 per annum that HUD previously advised the Minister was the risk level for maintaining building activity during the downturn.
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