Our take on the latest Residential building consents (Wed 3 Jun 2026)
Annual consents
April 2026 consents
Multi-unit consents
39,087
11%19%paOver April 2026 year
From March on a seas. adj. basis
Over April 2026 year
The key numbers...
- There were 3,692 residential dwelling consents issued in April 2026, growing 11% from March 2026 (seasonally adjusted). This lift is the strongest monthly growth since May 2025.
- Over the year to April 2026, a total of 39,087 new dwellings were consented, which was 17% higher than the April 2025 year, and the highest annual level since the year to October 2023.
- All dwelling types have grown, though non-house consents are leading, increasing 19%pa in the year to April 2026, ahead of house consent growth of 14%. Townhouse consents rose 19%pa, making up 43% of all dwelling consents in the year to April 2026. Apartment consents rose 27%pa, and retirement village units rose by 13%pa.
- Auckland and Canterbury continue to drive growth, together accounting for 87% of dwelling consent growth in the year to April 2026, increasing 21%pa and 29%pa respectively. Gisborne (18%pa), Southland (33%pa) and Nelson (43%pa) also recorded strong growth, but with lower numbers of consents.
...and our reaction
- After ten months of single-digit monthly growth, residential building consents jumped up by a surprisingly strong 11% in April. Higher materials costs and broader economic uncertainty stemming from the Iran War started to materialise in April. However, we don’t expect these effects to start affecting consenting activity until May at least, due to the timeframes involved in building decisions and consenting.
- There is little impetus for further growth in dwelling consents in the near term. House prices fell 0.9%pa in April 2026, and the Reserve Bank last week signalled its intention to lift the official cash rate to 3.0% by the end of 2026. Cost increases stemming from the Iran War are expected to continue rippling through prices into 2027.
- Strengthening migration (24,000 in the year to March 2026) could add to demand for consents in 2027, particularly if the Iran War reaches a conclusion and economic conditions improve more generally.
Latest updates
Premium
Residential building consents
Residential consents fall 3.6% in June
Mon 3 Aug 2026
Monthly
40,581 Annual consents over the June 2026 year
19% June 2026 consents over the June 2026 year
3.6% June 2026 consents from May on a seas. adj. basisPremium
Residential building consents
Residential consents fall 4.0% in May
Thu 2 Jul 2026
Monthly
39,737 Annual consents over May 2026 year4.0% May 2026 consents from April on a seas. adj. basis22%pa Townhouse consents over May 2026 yearResidential building consents
Residential consent momentum trends sideways
Fri 1 May 2026
Monthly
37,813 Annual consents over March 2026 year
3,300pm Consents trend sideways on a seas. adj. basis14%pa Townhouse consents over March 2026 year