FX.co ★ New Zealand Building Permits Slip 2.2% In May

The total number of building permits issued in New Zealand in May was down a seasonally adjusted 2.2 percent on month in May, Statistics New Zealand said on Monday - following the 2.6 percent drop in April.

In May, there were 3,725 new dwellings consented, including: 1,732 townhouses, flats, and units; 1,643 stand-alone houses; 225 apartments; and 125 retirement village units.

In the year ended May 2023, the actual number of new dwellings consented was 45,159, down 11 percent from the year ended May 2022.

The annual value of non-residential building work consented was NZ$9.9 billion, up 10 percent from the year ended May 2022.