Our take on the latest Residential building consents (Tue 5 May 2020)
Annual dwelling consents
37,606
As of March 2020
Total consents down 8.7% from March 2019
Townhouse consents up 31% from March 2019
The key numbers...
- Stats NZ recorded 2,904 new dwelling consents in March, down 21% (seasonally adjusted) from February’s strong result.
- This monthly drop was the biggest decline since October 2008, and partly reflects the Level 4 lockdown conditions that were in place for the last four working days of March (representing 19% of the month’s weekdays).
- The Ruapehu District and Upper Hutt City Councils were unable to provide full data for the month, but the missing consents are likely to add only about 10 more dwellings to the total when numbers are finalised.
- Apartment and retirement unit consents were significantly weaker, down 36% and 40% respectively from March 2019, but townhouse consents were 31% higher than a year ago, thanks to continued strength in consents in Auckland.
New dwelling consent numbers
Monthly total vs annual trend
...and our reaction
- Apart from retirement units, consent numbers for March have come in higher than we expected given the lockdown that commenced on Thursday 26 March.
- Although the number of consents being submitted by architects and designers is likely to have reduced, many councils have reportedly continued to process and issue consents during lockdown.
- It is therefore likely that our forecast 40%pa drop in consent numbers for the June quarter could be too large.
- Nevertheless, we still expect extreme levels of uncertainty among businesses and households to drive consents lower throughout the rest of 2020 and 2021, and we believe that some confidence effects are already apparent in the March data.
- Building work put in place data will show the true effects of the lockdown on construction activity, although June quarter numbers will not be published until September 4.
- Even with consent numbers, which reflect building intentions, continuing to be issued throughout the Level 4 lockdown, we still expect actual construction activity to shift lower as developers and businesses reassess their positions and decide to pull back from their previous commitments.
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