A look at the latest building consents data released by Stats NZ on 1 November shows both commercial and residential consents remaining at record highs with medium density consents, particularly in Auckland, leading residential growth. 

Residential consents summary:

• Residential building consents have cracked $20.5B for the first time — up 46% compared to 2019, with over 50k consents issued in the 12 months to September. At 20,779 consents, townhouse/flats have doubled compared to 2019
• Renovations and alterations hit $2.5B for the first time — up 32% compared to 2019
• In Auckland:
  • Multi-unit dwellings represent 75% of new consents in last year (average 1,486/month in last 6 months)
  • Stand alone houses continue to decline, averaging 395/month over last 6 months, down 24% compared to last year
  • Almost more detached homes were consented in Canterbury (5,132) in the last 12 months than Auckland (5,222)

Commercial consents summary: 

• Record $9.4B of commercial work was consented over last 12 months, led by continued strength in education, health and warehousing, with recent growth in office/admin buildings
• Nearly 30% of the value of commercial consents relates to new warehouses and factories
• Part of the 19% increase in consent values over the last 12 months can be attributed to the 11% increase in commercial construction costs in the year to June 22

View the full consents release on the Stats NZ website

Image: Stats NZ