Our take on the latest Non-residential building consents (Fri 1 Aug 2025)
Value of non-res consents
$583m
In June 2025
Public sector consents down to $113m
Warehouse consents up to $157m
The key numbers...
- After a more solid few months, the value of non-residential consents in June was down 3.7% from a year ago, and the monthly total of consents was the lowest this year (seasonally adjusted).
- The annual fall was primarily a public sector story, with social consents down $110m from last year (due to a $99m decline in Canterbury) and hospital consents dropping by $46m (due to a $50m fall in Rodney).
- Although private sector consents were up 11% from a year ago, June’s result was still relatively weak, being 13% below the average total over the last 12 months.
- The brightest spot among consents was warehouse building, which recorded its second-strongest month since January 2024, totalling $157m. Christchurch, Franklin, Henderson, Upper Harbour, Howick, and Western Bay of Plenty all recorded increases of over $10m in storage consents from June 2024.
Consents continue to drift lower
Annual running total of non-res consents, $b
...and our reaction
- June’s weak result, after several less negative months, left total non-residential consents 11% below the quarterly estimate included in our recently published forecasts.
- Warehouse and accommodation building came in higher than estimated, with the latter boosted by a $10m project in Taupō. All other building types were weaker than expected, with social and hospital building work particularly failing to maintain the strength shown over the previous few months.
- We continue to expect consent growth to remain soft throughout the next year, given the patchy nature of the economic recovery to date. As consents track sideways, work put in place will continue to ease, reflecting the decline in consents that has been ongoing since mid-2023.
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