Our take on the latest Residential building consents (Tue 14 Jan 2020)
Annual dwelling consents
37,010
As of November 2019
Total new dwelling consents grew 2.7%pa
Attached dwelling consents grew 10%pa
The key numbers...
- At a total of 3,204, there were 84 more new dwelling consents in November 2019 than in November 2018, equivalent to 2.7%pa growth.
- Canterbury and Wellington contributed most of November’s growth, with consents up 17% and 15%pa respectively.
- Softer consent growth compared with October was primarily due to a 4.4%pa decline for consents in Auckland.
- Standalone house consents fell in November, easing 1.4%pa, leaving modest growth in attached dwellings of 10% to hold the fort.
- Consents for retirement units in Canterbury have more than doubled over the year to November, up 120%pa.
Residential dwelling consents
Annual running total
...and our reaction
- Much of the lacklustre in consent growth in November was due to a weak result in Auckland, in contrast to previous months, when the region has been the biggest source of growth. However, it’s not too helpful to read into one softer month for Auckland.
- Canterbury was the outlying performer in November, bolstered by strength in retirement units. This sustained increase in Canterbury’s retirement units suggests willingness to settle in a previously unstable region.
- Overall residential year-end consent numbers are at their highest level since the mid-1970s. Although a peak in activity might not be far away, persistent strength in net migration has the potential to keep activity at higher levels than we had previously expected.
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Residential building consents
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Mon 3 Aug 2026
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40,581 Annual consents over the June 2026 year
19% June 2026 consents over the June 2026 year
3.6% June 2026 consents from May on a seas. adj. basisPremium
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Wed 3 Jun 2026
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Residential consent momentum trends sideways
Fri 1 May 2026
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37,813 Annual consents over March 2026 year3,300pm Consents trend sideways on a seas. adj. basis14%pa Townhouse consents over March 2026 year