Non-residential building consents
Auckland continues to dominate non-res consents
3 May 2022
Our take on the latest Non-residential building consents (Tue 3 May 2022)
Value of non-res consents
$998
In March 2022
Consents grew 30%pa in Mar 2022
Auckland consent values grew 193%pa
The key numbers...
- Total non-residential consents were worth $998m in March, the largest monthly total on record.
- The value of non-residential building consents rose 30%pa in the March month, leaving March quarter consents up 17%pa.
- Non-residential consents have been strong for most build types, with only hotel consents being lower over the last 12 months compared to the previous year.
- Some of the strongest build types in March were education ($188m), warehouses ($162m), and offices ($181m).
- Non-residential consents in Auckland were worth $430m in March and accounted for 99% of annual growth. Non-residential consent growth in Auckland for the March quarter was 60%pa.
Non-res consents
Annual running total, $m
...and our reaction
- March was a strong month for non-residential consents, with Auckland leading the growth, although the rest of New Zealand wasn’t necessarily weak.
- Higher construction costs mean that the real growth in consent volumes will be lower. But with an estimated 8.3%pa cost escalation in the March quarter for non-residential work and nominal consent values rising 30%pa, underlying expected building volumes remain considerably higher than a year ago.
- Businesses will be keenly watching high building costs at the same time as interest rate rises and reflecting on the viability of future projects. The 50-basis point increase in the official cash rate by the Reserve Bank in April, and expectations of continued raises, might limit further investment over the next 1-2 years.
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