New Zealand January Building Permits Dip 3.8%

(RTTNews) - The total number of building permits issued in New Zealand fell a seasonally adjusted 3.8 percent on month in January, Statistics New Zealand said on Friday, coming in at 1,703.

That included 314 consents for apartments, plus 1,389 permits for non-apartment dwellings.

The headline figure follows the downwardly revised 2.3 percent decline in December (originally -2.1 percent). Excluding apartments, building permits were down 7.5 percent.

"The trend for new dwellings is rising and is at its highest level since July 2007. Excluding apartments, the trend is flat," business indicators manager Neil Kelly said.

By region, there were 482 permits issued in Auckland, including 112 apartments; 467 for Canterbury, including 42 apartments; and 180 for Waikato, including 72 apartments.

On a yearly basis, building permits were 3.6 percent higher - although excluding apartments, they were down 6.8 percent.

In unadjusted terms, nearly NZ$1 billion of building work was consented in January, the bureau said - NZ$645 million of residential work and NZ$351 million of non-residential work.