Our take on the latest Non-residential building consents (Fri 29 Nov 2019)
Value of non-res consents
$621m
In October 2019
Total non-res consents down 0.2%pa
Social, cultural, and religious consents down 79%pa
The key numbers...
- Non-residential consents in October were down 6.7% from September (seasonally adjusted), pushing the value of approvals for the month 0.2%pa lower than a year ago.
- Public sector consents continue to carry non-residential consents, up $78m from last year, while the private sector continues to dwindle, down $80m.
- Social, cultural, and religious (SCR) consents were by far the biggest drag on the numbers, with $121m less consented than a year ago (down 79%pa).
- If SCR consents were excluded, non-residential consent values would have risen 25%pa this month.
- Canterbury felt the decline in SCR building the hardest, with consents in the region $110m less than a year prior (with $99m of this coming from SCR), taking overall consents in the region down 77%pa.
The sectors to watch
Contribution to annual % change, three months ended Oct-19
...and our reaction
- The stark divide between the trajectory of private and public consents speaks volumes about still-weaker business confidence and investment intentions over the past year.
- In recent months, there has been a lot of talk about the government’s failure to get money out of the door and shovels in the ground. Consistent strong growth in public consents could mean government spending is starting to come through.
- We expect non-residential consents to continue to weaken, but renewed business confidence indicators in November could provide more strength in non-residential building activity than anticipated.
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 2025
Office 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