Housing consents figures suggest slowdown

The latest housing consents figures contain a few suggestions that the long-awaited slowdown in the housing market may be starting.

Monday, May 31st 2004, 10:39PM

by Jenny Ruth

While the 2,486 consents worth $434.3 million for new homes granted in April were up 11% on April last year, they were well down on the 3,037 worth $562.6 million issued in March. Consents in March were up 19.7% on March last year.

And in seasonally adjusted terms, consents were down 5.5% from March and this was the third successive monthly decline. The March decline was revised to 7.3% from the previously published 6.1% decline.

The annual number of consents for the year ended April reflects the strength of the boom, the 31,677 consents being up 12% on the previous year and the largest total for an April year since 1976.

Consents for apartments remained strong at 588 compared with 548 in March and 447 in April last year.

Of the 16 regions Statistics New Zealand measures, 12 recorded higher consents than in April last year.

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Housing consents figures suggest slowdown

The latest housing consents figures contain a few suggestions that the long-awaited slowdown in the housing market may be starting.

Monday, May 31st 2004, 10:39PM

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