FX.co ★ New Zealand Building Permits Rebound In November

Statistics New Zealand reported on Monday that building consents issued in New Zealand increased by a seasonally adjusted 5.3 percent in November, effectively reversing the 5.2 percent decline observed in October. In November, the number of new dwellings consented totaled 3,100, comprising 1,437 townhouses, flats, and units; 1,402 stand-alone houses; 186 apartments; and 75 retirement village units. Over the year ending November 2024, the actual number of new dwellings consented was 33,609, reflecting a 12 percent decrease compared to the year ending November 2023. Additionally, the annual value of non-residential building work consented was NZ$9.4 billion, marking a 1.6 percent decline from the previous year ending November 2023.