For the first time in 12 years, the number of new homes consented in Auckland for the year to November topped more than 10,000.
In Auckland, the value of new residential construction is $4.8 billion, up 32%, and all types of construction are worth $7.2 billion, up 30%.
Building minister Nick Smith says the 1156 consents issued in Auckland during November makes it the strongest month for more than ten years.
“It is more than treble the 325 consents issued in Auckland in November 2008, when National became the government, and we need to consistently achieve more than 1000 approvals per month in Auckland to match population growth,” says Smith.
“It’s great to see such strong growth in our area of greatest need, but this isn’t just an Auckland story; 30,303 consents were issued nationally for the year to November 2016 – up 13% on the previous November year and the second consecutive month where we’ve topped 30,000,” he says.
Smith says nationally the value of residential construction increased 23% for the year to $12.45 billion, and all development increased 15% to $19 billion.
“This is the fifth straight year of strong growth in construction, with growth averaging more than 20% per annum. This is as fast as you can practically grow the construction sector without compromising quality,” says Smith.
