Townhouses are the star performer in the number of new building consents issued in NZ for the year to August 2019, with 23% more consents than last year.
The number of building consents issued for townhouses, flats and units in New Zealand reached a record high in the August 2019 year, up 23% on 2018 according to Stats NZ.
Townhouses, flats and units now account for 21% of homes consented in New Zealand. Stand-alone houses now account for 61% of all homes consented in New Zealand.
The total number of building consents issued nationally for all four residential categories was 35,658, up 9% from the August 2018 year. This is still below the record 40,025 new homes consented in the February 1974 year.
Stand-alone houses: 21,883
Townhouses, flats, and units: 7,367
Retirement village units: 2,299
Total Building Consents: 35,658
In Auckland the trend is even more pronounced. Stats NZ construction statistics manager Melissa McKenzie says, “The number of townhouses has been steadily rising in the last few years, now making up a quarter of all new homes consented in the Auckland region.”
The number of apartments consented in Auckland was also relatively high, but still below the peak that occurred in mid-2004.
The greater number of multi-unit homes consented contributed to a record 14,345 residential building consents issued in Auckland in the August 2019 year.
With the shift towards apartments and higher-density housing such as terrace houses since Auckland’s new unitary plan came in, stand-alone houses now account for less than half of all homes consented in Auckland.
This content is provided for general information only and should not be relied upon or used as a basis for making any investment or financial decision. To the extent that any information or recommendations in this content constitute financial advice, they do not take into account any person’s particular financial situation or goals. As individual circumstances differ, we strongly recommend you seek independent legal and/or financial advice prior to acting in relation to any of the matters discussed herein. Neither Newland Burling & Co Ltd nor Provincia Property Fund Management Ltd nor any person involved in this content accepts any liability for any loss or damage whatsoever may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in this content.