The trend for new dwellings is rising and is at its highest level since July 2007. However, excluding apartments, it was 6.8% lower, the figures from Statistics New Zealand also show.
Also, the seasonally adjusted number of new home consents decreased 3.8% in January 2015 and excluding apartments, this number fell 7.5%.
Business indicators manager Neil Kelly pointed out that in unadjusted terms, nearly $1 billion of building work was consented in January, some $645 million of residential work and $351 million of non-residential work.
More than $15 billion worth of building work was carried out in 2014, some $2.8 billion higher than in 2013, a 23% increase.
Together, Auckland and Canterbury accounted for $9.7 billion worth of the building work in 2014, nearly two thirds of the national total.
After removing price changes and seasonal variations, overall building activity volume edged up 0.3% in the final quarter of 2014. Residential building activity led with 4.3% growth, while non-residential building activity fell by 5%.
‘The trend for residential building activity has grown by two thirds since the September 2011 quarter. However the current level is 7% lower than the series peak more than 10 years ago in the June 2004 quarter,’ added Kelly.
