New Zealand Building Permits Sink 6.7% In August

(RTTNews) - The total number of building permits issued in New Zealand was down a seasonally adjusted 6.7 percent on month in August, Statistics New Zealand said on Monday - coming in at 3,170.

That followed the downwardly revised 5.4 percent drop in July (originally -5.2 percent) and it included consents for 1,478 townhouses, 1,243 houses, 310 retirement village units and 139 apartments.

In the year ended August 2023, the actual number of new dwellings consented was 42,110, down 17 percent from the year ended August 2022.

The annual value of non-residential building work consented was $9.9 billion, up 8.3 percent from the year ended August 2022.