Housing trend remains at low level

Embargoed until 10:45am – 29 July 2009

Housing trend remains at low level

In June 2009, the trend for the number of new housing units authorised, excluding apartment units, continued to be at a low level, Statistics New Zealand said today. The trend has flattened in recent months. When apartments are included, the trend for the number of new housing units has increased slightly for the last five months. Apartment numbers can vary considerably from month to month.

The seasonally adjusted number of new housing units authorised, excluding apartments, rose 3.0 percent in June 2009, following a fall of 3.2 percent in May 2009. Including apartments, the seasonally adjusted number of new housing units authorised fell 9.5 percent in the same period, following rises of 3.0 percent in May 2009 and 11 percent in April 2009.

For the year ended June 2009, consents were issued for 14,175 new housing units, including apartments.

This was the lowest annual number for a June year since the series began in April 1965.

For the month of June 2009, the value of non-residential building consents was $307 million, the lowest monthly value since September 2007. April and May 2009 had the two highest monthly values since the series began.

For the June 2009 year, the value of consents issued for residential buildings fell 30 percent, while the value for non-residential buildings rose 8 percent, compared with the June 2008 year.

Cathryn Ashley-Jones
Acting Government Statistician
29 July 2009

ENDS

See also the Hot Off The Press information release Building Consents Issued: June 2009.

BCI_Jun09_all_tables1.xls

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