Our take on the latest Non-residential building consents (Tue 4 Feb 2020)
Value of annual non-res consents
$7,453m
Over 2019
Non-res consents up 5.2%pa over 2019
Public consents up 36%pa over 2019
The key numbers...
- Non-residential consents grew 12%pa in the December month, which helped push the annual value of non-residential consents in 2019 5.2%pa higher than 2018.
- Hostel, boarding house, and prison building contributed almost half of all growth in consents in 2019, with $179m more consents in 2019 than 2018.
- In the December year, public consents grew 36%pa, while over the same period the value of private consents fell 3%.
- Non-residential consents in Otago jumped $50m in the December month, up a staggering 301%pa. This was due to large increases in both retail and accommodation consents, specifically a $26m consent to redevelop O’Connells Shopping Centre in Queenstown.
Value of consents granted
Year-end % change
...and our reaction
- Looking forward, we expect non-residential consents to fall away throughout 2020.
- Softer economic conditions and still soft business investment generally prompted a weaker trend for private sector consents which we expect to continue.
- The New Zealand economy may take a hit from the coronavirus outbreak, which will do no favours to economic activity and underlying sentiment.
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However, upside risks remain to our expectations, with the recent announcement of the government’s infrastructure package. The government has set aside funding for increased education and hospital construction activity, with the potential for more to be announced at Budget 2020.
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