New Zealand: Number of new dwellings consented rose 11%

"The seasonally adjusted number of new dwellings consented rose 11 percent (after a 10 percent fall in October). For houses only, the seasonally adjusted number fell 1.3 percent (the fourth consecutive fall)," the Statistics New Zealand reported on Friday.

The trend for the number of new dwellings consented is at its highest level since the previous series peak in early 2004.

Including alterations, the value of building work consented in November 2017 was $1.9 billion, comprising $1.3 billion of residential work and $549 million of non-residential work.

In the year ended November 2017, 31,123 new dwellings were consented – up 2.4 percent from the November 2016 year.

In the year ended November 2017, non-residential building consents totalled $6.6 billion – up 11 percent from the November 2016 year.

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