New Zealand Building Consents Break Records

January 11, 2016 New Zealand Taxation

The number of new buildings being built in New Zealand is nearing record levels, while the value of the homes is higher than ever.

For the first time ever, the value of consents granted for residential buildings in New Zealand over the course of 1 month has surpassed NZD 1 billion.

The total number of consents granted for new buildings in November 2015 reached 2 831, an increase of 17 percent over the same month in 2014.

The total value of the residential buildings consented in November was NZD 1.1 billion, while the value of non-residential buildings came to NZD 531 million.

The level of new consents is the highest on record aside from March 2005 when 3 027 buildings were consented.

The seasonally adjusted number of consents granted in November was 1.8 percent higher than in October.

Photo By: Mr Thinktank