Our take on the latest Residential building consents (Wed 4 Mar 2020)
Annual dwelling consents
37,606
As of January 2020
Total new dwelling consents up 2.7%pa in January
Townhouse consents up 47%pa in January
The key numbers...
- Residential consent growth in January eased from previous rates, with only an additional 68 consents granted compared with January 2019.
- Nevertheless, the three-month average percentage change for total consents remains healthy at 8.5%.
- Townhouse consents in Auckland grew 93%pa January, a lift that was almost solely responsible for the national growth of 47%pa in townhouse consents.
- However, apartment and retirement consents didn’t have the same vigour, down 29% and 42%pa respectively. Auckland recorded a 68%pa decline in apartment consents.
- Canterbury was the overachiever in January, with 155 more dwelling consents compared to January 2019.
Consents by dwelling type
Annual running total
...and our reaction
- The drop in apartment consents is in line with our expectations, particularly in Auckland, where there has been strong growth over the previous four years.
- However, the number of new dwelling consents can vary considerably month-to-month as multi-unit dwellings consents from large projects sway the data. This is particularly true for apartments and retirement homes.
- Although consent growth was soft for January, the underlying conditions that are driving consent growth remain relatively unchanged.
- House price growth has ticked up in recent months and could encourage more sustained strength in residential development than we have been forecasting for 2020.
Latest updates
Premium
Residential building consents
Residential consents fall 3.6% in June
Mon 3 Aug 2026
Monthly
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
Residential building consents
Residential consents fall 4.0% in May
Thu 2 Jul 2026
Monthly
39,737 Annual consents over May 2026 year4.0% May 2026 consents from April on a seas. adj. basis22%pa Townhouse consents over May 2026 yearResidential building consents
Residential consents jump up 11% in April
Wed 3 Jun 2026
Monthly
39,087 Annual consents over April 2026 year11% April 2026 consents from March on a seas. adj. basis19%pa Multi-unit consents over April 2026 yearResidential building consents
Residential consent momentum trends sideways
Fri 1 May 2026
Monthly
37,813 Annual consents over March 2026 year
3,300pm Consents trend sideways on a seas. adj. basis14%pa Townhouse consents over March 2026 year