All regions but Marlborough consented fewer homes
New homes consented in the year ending September dropped by 20% to 40,408, compared to the previous year, according to fresh Stats NZ data.
“The annual number of new homes consented has continued to decrease from its peak of 51,015 in the year ended May 2022,” said Michael Heslop, construction and property statistics manager. “However, the number of new homes consented in the year ended September 2023 is still at a higher level than any 12-month period prior to 2021.”
For the year ending September, 23,789 multi-unit homes were consented, which was a 15% decline compared to the same period in 2022. Of the 23,789 multi-unit homes consented, 17,874 were townhouses, flats, and units (down 14% compared with the year to September 2022), 3,227 were apartments (down 26%), and 2,688 were retirement-village units (down 6.8%).
Over the same period, 16,619 stand-alone houses were consented, down 27% from the previous year.
The Stats NZ data also revealed that 7.8 new homes were consented per 1,000 residents across New Zealand for the year ending September, down from 9.9 in the previous year.
Despite the fall, the figure still surpasses the historical average of 6.7 recorded between 1966 and 2023, Heslop said.
Among the regions, Canterbury had the highest number of new homes consented per 1,000 residents at 10.8, followed by Auckland (9.8), Otago (7.8), and Tasman (7.5).
“The number of new homes consented per 1,000 residents can be higher in popular holiday areas, as holidaymakers and tourists are excluded from the estimated resident population,” Heslop said.
“But some of the places they stay, such as holiday homes, are included in the number of homes consented.”
In terms of regional breakdown, all regions except Marlborough consented fewer new homes in the year ending September compared to the previous year.
Auckland had the highest number of new homes consented at 17,079, albeit with a 22% decrease from the previous year. This was followed by Canterbury with 7,209 (down 17%), Waikato, 3,875 (down 21%), and Wellington, 3,121 (down 18%).
In the September quarter, 9,126 new homes were consented, a decrease of 31% compared to the same quarter in 2022. When adjusted for seasonal factors, new home consents saw a 12% drop compared to the previous quarter. This follows a seasonally adjusted decrease of 3.9% in the June quarter, Stats NZ reported.
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