The 12-month running total for residential building consents stood at 24,100 in September 2014. Year-on-year, residential building consents were up 14 percent with consents for residential housing in Southland, Auckland, Tasman and Otago leading the way. Annualised totals, as shown in the figure below, indicate that consents could potentially reach the 26,000 mark, last seen in September 2007, and well ahead of the 13,500 consents witnessed in the 12 months to September 2011.
The value of new residential building work put in place also supports the growth in the number of new consents. This data is released quarterly, and if we compare the value of new residential dwellings between the June 2013 and June 2014 quarters then the value of this building work has risen by 33.5 percent. In addition, the value of alternations to residential buildings also increased during this period, by 18 percent, indicating that people are also investing in DIY alterations and additions.
In the 12-months to September 2014, approximately 12,280 non-residential building consents were issued up 1.5 percent on the 12 months earlier. The number of new consents issued for farm buildings was up approximately 15 percent in the 12 months to August, while there was a one percent increase in the number of consents for office buildings. All other buildings witnessed a decrease in consents during this period.
However, over the last three months the number of non-residential consents was up eight percent due to growth in the number hospitals and nursing homes, social buildings, and hotels and other short-term accommodation. Social buildings include community halls, crèches, gyms and fitness centres, and sports facilities.
Over the latest quarter and the 12-month period the value of non-residential building consents has also grown. Social and office buildings have led the way over the last three months and 12 months, indicating that the number and size of these buildings has grown.