Recently released statistics from New Zealand’s Ministry for Building and Construction show that building consents for new dwellings have reached record-breaking levels.
The number of building consents for new dwellings in 2018 reached 32,996 – of these 21,125 were stand-alone homes, 3,551 were apartments, 1,829 were retirement village units and 6,491 were town houses or home units. Government-related building consents reached 1,999, the highest number since 1978.
“Building consents for new dwellings have reached a 14-year high,” said Minister for Building and Construction, Jenny Salesa. “More is needed, [as] there is still a huge shortfall of housing. We are working with the sector to ensure our building systems support the growth we need.”
In July 2018, the National Construction Pipeline Report showed a slower but longer construction forecast. For the first time since its inception, the report did not forecast a boom followed by a bust. Instead, residential building value is expected to hold steady over the next six years, before increasing to a high of NZ$26.6 billion in 2023. The report shows building consents for new dwellings will increase year-on-year to a high of 43,100 in 2023.