Limited Time Offer! Ends Midnight, Sunday 16 February
Save up to $1,286 on New Zealand's Leading Property Investment Software and Data Platform | Join Today
15-Jan-2018 11:35:40 by Real Estate Investar
The number of new homes consented in New Zealand hit a 13-year high in November 2017, boosted by apartments in Auckland.
The figures released by Stats NZ on Friday show a near-record month in Auckland - driven by a spike in apartment consents - lifted consents nationally to 3,262 in November last year.
"In November Auckland home consents reached their second-highest level on record," construction statistics manager Melissa McKenzie said.
"This is beaten only by October 2002 when nearly 2,000 new homes were consented due to a much larger spike in apartments."
November is typically the month with the highest number of new homes consented, as people try to get plans approved before Christmas, she said.
"November's rebound in home consents was driven by apartments, which tend to fluctuate a lot and were particularly low in October," McKenzie said.
However, in November the number of apartment consents hit a 9-year high, and townhouses, flats, and units was the highest on record.
The total number of consents granted for 2017 up to the end of November was up by more than 1000 from the previous 12 months.
There were 3,317 consents issued for apartments in the November 2017 year, compared with 2,692 the previous 12 months.
Join 100,000+ other property investors and subscribe to our blog articles.
Just enter your email address below.
Real Estate Investar helps people create wealth through property investment. We provide everything people need to make successful property investing decisions and grow their portfolios.
Copyright © Real Estate Investar Privacy.