Non-residential building consents

Consents strong in March, but shadow of conflict looms

1 May 2026
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Gareth Kiernan

Our take on the latest Non-residential building consents (Fri 1 May 2026)

Value of non-res consents
Monthly consents
Hostel consents
$862m
15%
$119m
In March 2026
From Mar 2025
From Mar 2025

The key numbers...

  • March was a good month for non-residential building, with the value of consents up 5.6% from February (seasonally adjusted) and 15% from March 2025.
  • Hostels made the largest single contribution to the increase, with $123m of consents representing this building type’s strongest month for almost seven years (in real terms, after adjusting for building cost inflation). Activity was boosted by an $86m consent as part of Precinct Property’s 960-unit purpose-built student accommodation in Auckland, with smaller contributions coming from Ōtorohanga (which is likely to be work at Waikeria Prison) and Christchurch.
  • Other positive contributions to consents came from social building (up $26m from March 2025), farm building (up $24m), hospitals (up $20m), and retail (up $18m).
  • Social building was boosted by consents in Christchurch and Queenstown-Lakes, while the increase in farm building was widespread and took the volume of consents for this building type to a six-year high. Hospital building consents were higher in Waitematā and Christchurch, and Tasman was the major driver of the increase in retail consents.
  • Office consents fell $80m from a relatively high level in March 2025. Declines in Whanganui, Wellington, Franklin, and Ōtara-Papatoetoe made the largest contributions to this drop.
Download chart data

...and our reaction

  • Total non-residential consents for the March quarter were 9.1% higher than the estimate in our recently published forecast. Unlike trends over previous months, private sector work was a key contributor to the stronger result for March.
  • At first glance, today’s data points towards less negative outcomes than we have been forecasting for non-residential work put in place in coming quarters. However, consents issued in March will have been submitted prior to the start of the Iran War, and we expect a renewed weakening in private sector consents to show through in coming months.
  • Yesterday’s ANZ Business Outlook reported a 16-point drop in commercial construction expectations in April (seasonally adjusted), which was the biggest monthly drop in 2½ years. There are also significant risks of rising construction costs, which would reduce the viability for new projects to go ahead.

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 2025
Premium
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 2025
49% Public sector consents from May 2025
Non-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 years