Our take on the latest Non-residential building consents (Wed 2 Mar 2022)
Non-residential consents
$447m
In January 2022
Consents down 7.3%pa in Jan 2022
Sharp drop in education consents
The key numbers...
- The value of non-residential building consents fell 7.3% in January 2022 from a year prior, due to a particularly weak month for education consents.
- Education consents in January fell by 62%pa, or $97m. The drop was centred on Auckland, with the value of education building approvals in the region falling $78m (down 80%pa).
- The next largest declines were in hotel and office buildings, with building consents falling by $33m and $11m respectively.
- Even factory consents, which have been strong throughout the last year, softened, down $10m (or 13%) in January from a year prior.
- However, not all build types had a bad month in January. Warehouses, social buildings, hostels, and retail building all grew, up by $40m, $30m, $23m and $16m respectively.
Non-residential consents
Annual running total, $m
...and our reaction
- Public sector consents have been leading the charge for non-residential consents recently, so the big drop in education consents in January resulted in a sharp drop in overall activity.
- Private sector consents had a relatively strong result in January and helped mitigate the weakness resulting from the poor public sector result.
- Rising interest rates could negatively affect future growth in private sector consents, as the cost of capital for businesses will be rising.
- Non-residential building costs are growing at a fast rate, up by 7.7%pa in December and expected to rise further. Rising costs driven by supply chain issues and labour shortages will make translating building intentions into activity more difficult and less profitable.
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 2025Office 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