There’s positive news for New Zealand in terms of new home building consents, with dwelling numbers growing by 14%. This represents the first time double digit growth has been achieved since June 2016 according to Statistics New Zealand and a recent story in the NZ Herald.
While that may be good news in the overall NZ market, the numbers for Canterbury are less inspiring. The reduction in new home building consents continues to decrease to 361 in February comparable to 525 in February 2016.
According to commentators the Kiwi new housing market still remains a challenge for the government and those making policy. Much of the blame is still being leveled at the planning process of local authorities which they say is affecting supply. This causes a logjam which drives prices up in an environment where net migration continues to rise.
Consents in Canterbury continued to taper off as the residential reconstruction effort slows, with 361 new permits issued in February, down from 525 a year earlier.
In Auckland the bottleneck is felt more acutely according to the story. Seasonally adjusted dwelling consents rose 14 per cent to 2,605 in February, posting its first double-digit growth since June last year, with new housing permits also gaining 14 per cent to 1,858, Statistics New Zealand said. Annual residential permits rose 8.7 per cent to 30,162 in the year through February 28, and new house consents gained 9.1 per cent to 21,326.
If you are looking for a Canterbury builder and are researching the new home building market currently, then consider Build7 Christchurch as your building partner. We have a growing range of Christchurch house and land packages available now. Some are priced especially for first home buyers.
If you want to partner with a new home building company you can trust, go ahead and take the first step. Get in touch now. We’d love to hear about your situation and help you with the process.