The number of building consents issued for new dwellings in New Zealand increased by 1.5 percent month-over-month to a seasonally adjusted 2724 in October of 2018, following a 1.3 percent decline in the September and a 7.0 percent gain in August. Excluding apartments, flats, and retirement village units, the number of consents for new houses went up 6.1 percent (vs +1.2 percent in September). Compared with the same month of the previous year, building consents jumped 8.4 percent after falling by 3.0 percent in September. Building Permits in New Zealand averaged 1967.85 from 1995 until 2018, reaching an all time high of 3391 in June of 2004 and a record low of 992 in January of 2009.
Building Permits in New Zealand is expected to be 2000.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Building Permits in New Zealand to stand at 2300.00 in 12 months time. In the long-term, the New Zealand New Dwellings Building Consents is projected to trend around 2400.00 in 2020, according to our econometric models.