FX.co ★ New Zealand Building Permits Rise in May

In May 2025, New Zealand witnessed a 10.4% increase in the number of building consents issued for new dwellings compared to the previous month, resulting in a seasonally adjusted total of 3,151 units. This figure encompasses 1,464 stand-alone houses, 1,320 townhouses, flats, and units, 211 retirement village units, and 156 apartments. For the year ending in May 2025, a total of 33,530 new dwellings received consent, reflecting a 3.8% decrease from the prior year. Additionally, the annual value of non-residential building work consented diminished by 2.3%, totaling $9.0 billion. The rate of new dwellings consented was 6.3 per 1,000 residents, down from 6.6 the year before and significantly lower than the record high of 13.4 recorded in December 1973. These statistics indicate an ongoing slowdown in New Zealand's residential construction sector.