New Zealand building consents rise in May

Building consents in New Zealand rose in May. The seasonally adjusted number of new homes consented were up 7 percent in May after dropping 7.4 percent in April, showed Statistics New Zealand. Nearly 2,800 new homes were consented in May, including more than 2000 stand-alone houses. The balance was made up of townhouses, units, flats, retirement village units and apartments.

“The 2,039 stand-alone houses consented in May was the highest monthly number since June 2004. The trend for new homes is recovering after dipping in late 2016. It's more than double the level of the 2011 low point, and nearly back to the mid-2016 peak", prices, accommodation, and construction senior manager Jason Attewell said.

In the year ended May 2017, 30,645 new homes were consented, and around one-third of these were in Auckland, added Attewell.

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