Our take on the latest Non-residential building consents (Thu 2 Jul 2026)
Value of non-res consents
Monthly consents
Public sector consents
$789m
19%49%In May 2026
From May 2025
From May 2025
The key numbers...
- The total value of non-residential consents issued in May was down 19%pa from May 2025, though consents did rise 7.9% from April 2026 on a seasonally adjusted basis.
- Public sector work was the key detractor for non-residential consents this month, with public sector consents down 49%pa or $187m in May 2026. Private sector work fell 0.5%pa or $3.0m in May 2026, though it was already weak having fallen 6.0%pa in the year to May 2026, on top of a 5.7%pa decline in the year to May 2025.
- Factory and social building consents were down $141m and 124m respectively in May 2026, falling 17%pa and 21%pa respectively over the year to May 2026. In real terms, factory consents are at their lowest level in five years.
- Auckland consents rose $77m in May 2026 from May 2025, however, this was more than offset by sharp falls in Canterbury ($153m), Wellington ($133m), and Bay of Plenty ($62m). Auckland was buoyed by strong consenting for education ($67m), office and public transport ($76m) and storage ($54m) buildings.
...and our reaction
- May shows further softness in non-residential consents overall, coming down further not only from their 2023 peak, but also edging below volumes last seen in the midst of the COVID-19 lockdown of 2020.
- Regional activity varies widely and doesn’t appear to be correlated to economic performance. Across Canterbury, Otago and Southland – all the strongest growing regions in the March 2026 Quarterly Economic Monitor – non-residential consent values have fallen by at least 12% in the year to May 2026. Bay of Plenty and Waikato have led the North Island’s economic recovery, yet have divergent consenting trends, with 5% growth in Waikato and 8% decline in Bay of Plenty.
- With fuel prices falling and the US-Iran conflict de-escalating, ANZ’s June Business Outlook showed a 27-point jump in business confidence, and more importantly, a 10-point jump in investment intentions. Stronger investment intentions should help boost private sector work in coming months. Private sector work has historically accounted for around three-quarters of non-residential building consents. Notably, investment intentions among manufacturing businesses were flat, so factory consents may remain weak.
- Christchurch Men’s Prison is expected to be consented later in 2026, and with a value of $800m will provide a substantial boost to public sector consents.
Latest updates
Premium
Non-residential building consents
Accommodation and industrial activity bolstered non-res consents in July
Wed 2 Sept 2026
Monthly
$730m Value of non-res consents in July 2026
3.7% Total non-res consents from June 2026 (seas adj)
6.0%pa Total non-res consents in July 2026Premium
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 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 years