Friday, January 28, 2022

NZ builds on record home consents

New figures released today show that more new homes have been consented in the past nine months than ever before.

Minister for Building and Construction, Poto Williams, said consent numbers had more than tripled in the last decade.

“We’re building more houses than any Government since the 1970s… Now, for the ninth month in a row, we have exceeded the previous record for the highest number of homes consented in a year,” said Ms Williams.

Estimates from Statistics New Zealand released today show the number of new homes consented in the year ended November 2021 is at a record high of 48,522 – an increase of 26% from the November 2020 year.

“The sector is outdoing itself to deliver on the homes New Zealanders need,” Minister Williams says.

Forecasts in the National Construction Pipeline Report 2021 estimate an increase in building and construction activity through to the end of the forecast period in 2026. The annual report provides a projection of national building and construction activity based on current settings. It includes national and regional breakdowns of actual and forecast residential building, non-residential building and infrastructure activity. The forecast is for 265,000 new dwellings to be consented through to 2026 at an average of over 44,000 dwellings a year.

“We expect high levels of residential construction in particular to continue for some time.”

“Despite challenges caused by the pandemic, the sector has remained resilient and is now in a good place to keep this momentum going.

“We will continue to work with the sector to help minimise ongoing disruptions from COVID-19.

“We have recently instructed the Commerce Commission to undertake a study into competition in New Zealand’s residential building supplies markets. This study will focus on any factors that may be affecting competition for the supply or acquisition of key building supplies used to build the major components of residential buildings.”

“Ensuring access to fairly priced building materials is a key driving factor in Government’s decision to review this market, and I look forward to the Commerce Commission’s report in December 2022,” the Minister said.

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