Our take on the latest Non-residential building consents (Thu 2 Feb 2023)
Value of non-res consents
$856m
In December 2022
Consents up 13%pa in year to December 2022
Annual hospital consents reach $1.4b
The key numbers...
- Non-residential building consents totalled $856m in December 2022, up 9%pa from December 2021. This result brought total annual consents in 2022 to $9.5b, 13% higher than annual consents in 2021.
- There was $243m worth of hospital consents issued in December 2022, accounting for over a quarter of the total value of December’s non-residential contents. There was also $141m of education consents, $106m of warehouse consents, and $92m of social, cultural, and religious building consents.
- Hospital consents were $137m (130%pa) higher than in December 2021, and social and cultural consents grew by $52m (134%pa). However, factory consent values have continued to decline in December 2022, down $113m (63%pa) from December 2021. There was a $73m fall in consent values in Manawatu-Wanganui from December 2021 and a $26m decline in Auckland. December was another strong month for the Canterbury region, with $113m consented for alterations to Waipapa Christchurch Hospital, and $25m consented for a partial rebuild of Riccarton High School.
Public consents lifting non-res
Annual running total, $m
...and our reaction
- Public consents are an increasing proportion of total non-residential consent values, lifting from 22% in January 2022, to 38% in December 2022. As well as factory consents, retail and farm consents have stalled, falling 34%pa and 42%pa respectively. It appears that high interest rates and recession fears are having an immediate effect dampening private business activity, while large public projects in the hospital and social building space go ahead.
- Momentum in office building consents could also be taking a hit as investment intentions soften across New Zealand. Office building consents were up 65%pa in the three months to December 2022, but this is much lower than the 150%pa increase seen in the three months to October 2022.
- We can expect that high building costs will keep the value of non-residential consents elevated in the near term. However, as central and local government come under funding pressures and embark on a more restrained fiscal programme, further social building plans may be postponed.
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