FX.co ★ New Zealand Building Permits Rise 3.7% In December

In December, New Zealand saw a month-on-month increase of 3.7 percent in the issuing of building permits, with a total of 2,487 permits issued, as stated by Statistics New Zealand.

The permits were distributed between various types of dwellings, with 1,128 assigned for townhouses, flats, and units, 1,095 for stand-alone houses, 161 for apartments, and 103 for retirement village units.

However, there was a decrease in the number of new dwellings consented over the year. In the year that ended in December 2023, 37,239 new dwellings were consented, marking a 25 percent decrease from the previous year.

The annual value of non-residential building work consented was NZ$9.4 billion, representing a 1.0 percent decrease from the year that ended in December 2022.