Non-residential building consents

All go

11 Jan 2019

Our take on the latest Non-residential building consents (Fri 11 Jan 2019)

Value of non-res consents
$831m
In November 2018
Social, cultural, and religious buildings up $106m from November 2017
Value of consents in Canterbury up $149m from November 2017

The key numbers...

  • Growth in non-residential consents performed much stronger than expected in November, particularly for education and social, cultural and religious buildings.
  • Capacity constraints in Auckland remain a barrier to future growth and beg the question as to whether this recent growth in non-residential consents is sustainable. 

Value of consents granted

Annual total, $ bn
3026

...and our reaction

  • The value of non-residential consents skyrocketed in November, up a whopping 51%pa, with $283m more consents than a year prior. 
  • Social, cultural and religious (SCR) building consents have had stand out performances in the last couple of months, with consent values up 162%pa in the three months to November.
  • Growth in SCR consents was driven by Auckland in November, with SCR consents up $101m from a year earlier in the region.
  • Up $149m from a year prior, Canterbury contributed the majority of growth to the national figure, bolstered by a strong performance in consents for education buildings (up $139m - a whopping 337%pa increase!)