New building consents fall slightly in New Zealand, but detached homes rise
Building consents for new homes in New Zealand fell slightly in July, down 0.7% compared with a year ago and following a 1.3% in June, the latest data shows.
The fall was driven by the number of consented apartments, townhouses, and retirement units, according to the figures published by Statistics New Zealand and a fall for multi-unit dwellings was partly offset by an increase for detached houses.
Indeed the number of building consents for detached homes increased by 8.5% in July which more than reversed a 4% fall in June.
The larges fall overall was in the Auckland region with 313 fewer new homes consented compared with July 2016, a decline of 29% and this was driven by decreases in apartments and townhouses.
The report points out that Auckland’s numbers are quite volatile because almost half the homes consented are in multi-unit projects. On average, the region currently consents over 800 new homes a month.
Otago region had the largest rise from July 2016, with 114 more homes consented, up 68% t to 282 in July 2017, driven by a spike for apartments in Queenstown.
Meanwhile, regulations governing the education and training of real estate agents in New Zealand have been updated to reflect new qualifications aimed at providing more consistent training and education for agents.
There have also been improved licensing introduced and a better complaints procedure with all the changes coming into force from 15 September 2017.
‘The regulations governing real estate agents need to keep pace with changes in industry training and education. These changes will ensure that the graduates of the new qualifications will be able to apply to the Real Estate Agents Authority for a real estate agent’s licence,’ said Associate Justice Minister Mark Mitchell.