FX.co ★ New Zealand Building Consents Sink 5.6% In December

In December, New Zealand experienced a 5.6 percent seasonally adjusted decrease in building permits, totaling 2,478, as reported by Statistics New Zealand on Tuesday. This decline follows a revised increase of 4.9 percent in November, initially reported as 5.3 percent. For the year ending in December, 33,600 new dwellings were approved, marking a 9.8 percent decline compared to the previous year. The annual value of non-residential building consents dropped to NZ$9.3 billion, a 0.9 percent decrease from the previous year. In the December 2024 quarter, the seasonally adjusted number of new home consents fell by 3.5 percent, following a 5.5 percent rise in the September 2024 quarter.