FX.co ★ New Zealand Building Permits Sink 5.2% In October

Statistics New Zealand reported on Monday that the total number of building permits issued in New Zealand decreased by a seasonally adjusted 5.2% in October, reaching 2,850. This decline follows a 2.4% increase observed in September.

In terms of specifics, permits were granted for 1,363 stand-alone houses; 1,174 townhouses, flats, and units; 183 apartments; and 130 retirement village units.

For the year ending October 2024, the actual number of new dwellings consented totaled 33,467, marking a 16% decline compared to the previous year.

Furthermore, the annual value of non-residential building work consented amounted to NZ$9.3 billion, representing a 3.5% decrease from the year ending October 2023.