City Sales Note Dwelling Consents in Auckland CBD Reached 14-year High in 2018

Last year in the Auckland region, the council consented 12,862 new homes, which is down slightly from the year ended October 2018 when 13,078 homes were consented, the highest since the early 1970s, Stats NZ said, an 18 percent increase.

 

Of total consents, townhouses, flats and units were up 33.1 per cent while apartments - defined as buildings with 10 or more dwellings - lifted 9.6 per cent versus 2017. Townhouses, flats, and units accounted for almost half of the new homes consented to central government in 2018, the majority being in Auckland.

 

For the month of December, a total of 2,382 consents were issued for all types of homes, across the country, up 9.8 per cent versus the same month a year earlier but down 24 per cent from November. Of those, the number of consents for townhouses, flats and units was up 36.7 per cent while the number of apartments rose 13.8 per cent.

 

Scott Dunn of City Sales says, “We’re delighted to see apartment consents increasing as per our expectations. It’s important for people to understand the difference between being consented and progressing through to construction – the numbers are often very different. Auckland continues to hold a drastic shortage of dwellings and we don’t see a change to this in the near future.”

 

Monthly consent numbers are volatile. Historically consents for new homes tended to peak mid-year, for summer construction, but the trend to more apartments and the growth of the retirement home sector has increased the variability in the data.

 

To find out more about real estate agents Auckland, selling a property and property management Auckland please go to http://www.citysales.co.nz .