Our take on the latest Non-residential building consents (Fri 1 Mar 2019)
Value of non-res consents
$502m
In January 2019
New consents up 44%pa in the 3 months to Jan
Arrow International collapse
The key numbers...
- Non-residential construction was solid in the three months to January, but serious questions remain about future growth.
- The collapse of Arrow International signals further worries about the construction sector, and places increased pressure on future capacity.
- The loss of most of the country's top tier of non-residential construction firms leaves a void in the industry that might be filled by Australian companies entering the New Zealand market, as activity across the Tasman dies up.
- We expect non-residential consents to continue to grow over the coming year, peaking by December and flattening throughout 2020.
The sectors to watch
Contribution to annual % change, three months ended Jan-19
...and our reaction
- Retail consents have continued their good run, with the value of consents up 98% (or $82m) from January 2018.
- The next largest contributor to monthly growth was office consents, with $33m more approvals in January than a year prior.
- After months of underwhelming growth, a positive result for office construction is promising, yet we remain sceptical of its continued success.
- Non-residential consents in Waikato were strong in January, recording 106%pa growth, with $28m more consents than January 2018.
Latest updates
Premium
Non-residential building consents
Warehouses prevent further non-res falls in June
Mon 3 Aug 2026
Monthly
$701m Value of non-res consents in June 2026
7.4% Total non-res consents from May 2026 (seas adj)37%pa Warehouse consents from June 2025Premium
Non-residential building consents
Non-res consents weaker still in May
Thu 2 Jul 2026
Monthly
$789m Value of non-res consents in May 2026
19% Monthly consents from May 202549% Public sector consents from May 2025Non-residential building consents
Non-res consents mostly softer in April
Wed 3 Jun 2026
Monthly
$655m Value of non-res consents in April 2026
15% Monthly consents from April 2025Office and education consents at lowest monthly levels in 5-6 yearsNon-residential building consents
Consents strong in March, but shadow of conflict looms
Fri 1 May 2026
Monthly
$862m Value of non-res consents in March 2026
15% Monthly consents from Mar 2025$119m Hostel consents from Mar 2025