Housing consents dip
Housing consents plummeted a seasonally adjusted 27% in November from October, but practically all the decline represented the return to more normal monthly levels of consents for new apartments.
Monday, January 13th 2003, 9:51PM
by Jenny Ruth
There were 2,428 homes worth $393.6 million approved in November compared to 3412 worth $457.7 million in October which was the highest monthly level of consents since March 1976.
November apartment approvals fell to 572 in November from 1,526 in October.
The total November consents compared with 2,148 worth $298.4 million in November 2001. There were 501 apartments approved in November 2001.
Statistics New Zealand says the trend in consents has been increasing steadily since November 2000.
It notes that apartment consents in the year ended November were up 82% on the previous year.
The Auckland housing market overall continues to be buoyant, accounting for 39% of all consents in November.
In the year ended November, consents rose to 26,169 worth $4.23 billion from 20,327 worth $3.05 billion in the previous year.
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