Economists flag building slowdown due to Auckland’s residential building consents that are not on track.
- Economists have expressed concern about the latest building consent figures which indicate building work is stalling.
- Statistics NZ says new home consents rose a modest 0.8% in January & 11% annually, but the trend had declined by 15% in the 5 months to January.
- The biggest fall-off was in Canterbury, where the housing market is now back in balance, while building consents in Wellington did not fall.
- There were gains in both residential & non-residential building activity, particularly in Auckland & Wellington while Canterbury eased back.
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